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The United Nations body called on all member states to implement the Travel Rule “without delay” to close “loopholes” not currently protected by regulation. A renewed call from the Financial Action Task Force (FATF) has asked countries to implement the “ travel rule” to combat money laundering and terrorism financing activities enabled by cryptocurrencies. On June 23, the United Nations body — whose role is to promote strategies to combat money laundering and terrorist financing — explained that “many” member states have failed to implement the rule. The call comes after a series of FATF meetings at its headquarters in Paris. The FATF plenary has concluded. Delegates of governments from around the world discussed a range of money laundering and terrorist financing issues. See the outcomes of the plenary here️ https://t.co/s0nmYw1ca6#FATFWeek #moneylaundering #terrorismfinancing #followthemoney pic.twitter.com/DTerSET5QT — FATF (@FATFNews) June 23, 2023 FATF claimed “more than hal...

Osmosis’ community governance has successfully authorized the deployment of supercharged liquidity pools, meant to give liquidity providers the ability to concentrate their liquidity within a specific range of assets. Concentrated liquidity pools can help users specify their positions, giving them the opportunity to gain more rewards. “Incentives are now based on the actual usage of the liquidity rather than spread evenly across all liquidity,” a proposal that outlined the implementation of supercharged liquidity pools wrote.  The proposal passed with over 96% of Osmosis community members voting in favor of implementing the pools , with less than 4% of voters choosing to abstain. As part of the v16 upgrade, the community will deploy a DAI/OSMO supercharged pool linked to the classic Pool 674. The creation of any new pools and existing pools that want to migrate to a supercharged liquidity pool must go through a governance process.  This will be necessary until all classic ...

As one of the largest blockchain ecosystems continues to grow, Ethereum co-founder Vitalik Buterin notes that it will be necessary to adopt the “three transitions ” for Ethereum to be sustainable in the long term.  These transitions , as Buterin explains in his latest blog post are: layer-2 scaling, wallet security and privacy.  “It’s not just Features of the protocol that need to improve; in some cases, the way that we interact with Ethereum needs to change pretty fundamentally, requiring deep changes from applications and wallets,” Buterin wrote. Buterin explains that it will be necessary to build cross-chain solutions of layer-2 blockchains, drawing on examples of how it is difficult now for users to have only one address with the multiple different scaling solutions that exist on top of Ethereum today.  “In an L2 scaling world, users are going to exist on lots of L2s. Are you a member of ExampleDAO, which lives on Optimism? Then you have an account on Optimism! Are you holdi...

Peter Schiff and his New Bear Rationale  In his opinion, “rallies end when the lowest quality stuff finally participates” noting that there’s no lower quality than crypto.”  advertisement Until recently the rally in highly speculative assets excluded # Bitcoin . Now that Bitcoin has finally joined the party, perhaps it's a sign that the party will soon end. Usually rallies end when the lowest quality stuff finally participates. There's no lower quality than #crypto. — Peter Schiff (@PeterSchiff) June 23, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read ...

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against William Koo Ichioka, for de fraud ing around 100 users , including crypto asset holders , of more than $21 million .  The fraudulent scheme According to the CFTC’s report, Ichioka, a resident of New York City, operated a fraudulent scheme from 2018 to November 2021 called the Ichioka Ventures.  During that time, he solicited tens of million s of dollars from individuals, with a promise to trade digital asset commodities such as bitcoin (BTC) and ethereum (ETH), as well as engage in Forex utilizing the Ichioka Ventures commodity interest pool. You might also like: CFTC approves Cboe margin crypto futures The investment was supposed to be short-term, having a 10% return on investment after every 30 days. Participants in Ichioka’s venture pool were also assured that their funds could be withdrawn easily, or reinvested.  However, Ichioka didn’t keep to his promi...

In a recent statement, BitMEX CEO Stephan Lutz expressed his belief that crypto exchanges can operate without internal market makers, citing concerns raised by the revelation that Crypto.com has internal trading teams engaged in crypto trading activities. The disclosure has sparked apprehension regarding a potential conflict of interest at Crypto.com. Growing presence of external liquidity providers According to BitMEX CEO Stephan Lutz, the presence of high-frequency traders (HFTs) and proprietary trading firms in the cryptocurrency industry can effectively replace the role of internal market-making teams. Lutz believes that these external entities are capable of ensuring liquidity and bridging the gap between buyers and sellers during imbalances in the market. Lutz further highlighted that BitMEX itself had previously operated an internal trading entity called Arrakis Capital, serving as a major internal market maker.  You might also like: Raoul Pal predicts ‘exponential ...

Join Our Telegram channel to stay up to date on breaking news coverage Gemini, a US-based crypto platform, has revealed its plans to expand its operations in the Asia-Pacific (APAC) region. This comes after the company’s leadership team recently visited the area on a global mission to drive the adoption of cryptocurrencies outside the United States. Gemini Sets Sight Beyond America Gemini plans to increase its headcount in Singapore to more than 100 employees over the next year. The office will be the company’s central hub for its ramped-up plans to target the Asian market. In an announcement, the company said: Our Singapore office will be a hub for our more extensive APAC operations. We believe that APAC will be a great driver of the next wave of growth for crypto and Gemini. In December 2020, the crypto firm launched support for the Singapore Dollar (SGD), enabling Singapore residents to access cryptocurrencies seamlessly. Additionally, Gemini supports the Hong...

Join Our Telegram channel to stay up to date on breaking news coverage Ripple-SEC XRP lawsuit takes an unexpected turn when undisclosed Hinman emails emerge, injecting a new wave of intrigue.  The unexpected development could dramatically change the legal landscape, presenting new evidence and challenging the established narrative, leaving Ripple and the SEC uncertain. The Ripple-SEC Battle: Hinman Emails and Crypto Regulation Puzzle Ripple Labs and the U.S Securities and Exchange Commission (SEC) agree despite internal divisions within the SEC about the Hinman Emails. These documents have sparked intense debate in the ongoing legal dispute between Ripple and the SEC. SEC emails reveal internal discussions about cryptocurrencies, attracting a lot of attention. Many thought these emails would significantly impact the SEC’s crypto policies, but they might not have as much impact as they thought. The Hinman Emails revealed the SEC had doubts about Ethereum’s (ETH) l...

A Canadian financial regulator has asked citizens to be alert as crypto exchanges claim certification from fake regulatory authorities to “appear legitimate.” Some “purported” crypto currency platforms have fake regulator y approvals from “fictitious” organizations or claim to belong to a dispute resolution organization, according to an investor alert released on June 20 by the Canadian Securities Administrators (CSA).  The regulator noted the websites of such companies lead users to links to fake regulatory bodies or dispute resolution entities, which also have websites that appear legitimate at first glance, with addresses of real locations. However, the CSA stated that a more scrutinized look at these websites shows awkward and unpolished language and grammatical or spelling errors.  You might also like: SEC issues an investment warning on crypto assets The CSA listed 10 regulator y or dispute resolution bodies labeled as “f...

Pepecoin hopped in guns blazing onto the crypto scene not too long ago and quickly reached record heights after getting listed on the Binance exchange. It’s been quite the journey for this coin, and it seems like it’s here to stay. Or is it? Reports are making the rounds that early PEPE investors are jumping on a new meme coin that’s in its first stage of PR esales. Those reports point towards $ANA, the new community meme coin that continues to experience a strong surge in demand. In this article, we’ll be discussing the freshest meme coin, $ANA, and showing you just why PEPE holders are switching sides early in PR esales. BUY $ANA NOW Is this the end of the PEPE craze? Pepecoin kicked off the whole meme coin craze this year, where newly minted tokens stole the show from big shots like Bitcoin and Ethereum. In less than a month, PEPE shot up by an amazing 10,000%, turning a bunch of regular traders into overnight millionaires. Can you believe it? One tra...

Major Financial organization, HSBC has filed for a metaverse and NFT (non-fungible token) trademark application. Among the bank’s trademarks are metaverse banking, consulting, and financial services, along with virtual credit cards. This could mean that the firm is looking to open a branch in the metaverse. Apart from the metaverse-related applications, HSBC has also covered NFTs and NFT-backed media. #HSBC continues its move into the #Metaverse! The company has filed a new trademark application covering: ️ Metaverse banking, consulting, financial services ️ Virtual credit cards ️ NFTs + NFT-backed media … and much, much more!#NFT #Crypto #Web3 #NFTs #DeFi pic.twitter.com/rb6UdA2Iq3 — Mike Kondoudis (@KondoudisLaw) June 19, 2023 HSBC is also applying for patents related to various software. Firstly, they have applied for software for facilitating secure payment transactions by electronic means in the metaverse. Secondly, they have applied for software patens around identity verificatio...

Join Our Telegram channel to stay up to date on breaking news coverage Binance, the global cryptocurrency exchange, has refuted any connection to the entity referred to as Binance Nigeria Limited in the circular released by the Securities and Exchange Commission (SEC) of Nigeria. Binance clarified that it is neither aware of nor affiliated with the mentioned entity . SEC Nigeria’s Circular and Binance’s Response On June 9, the Nigerian SEC issued a circular addressing the activities of Binance Nigeria Limited, highlighting its unregistered and unregulated status. The circular served as a warning to the Nigerian public, cautioning them against engaging with the entity’s crypto asset trading platforms. The SEC’s circular explicitly stated that Binance Nigeria Limited is operating illegally in the West African country. As an unregistered and unregulated entity, it lacks the necessary authorization from the Commission to conduct its operations. The circul...

In 2023, the crypto market has been volatile, characterized by periods of growth , correction, and stagnation in recent weeks. Consequently, there has been an ongoing debate concerning which altcoins offer the most favorable opportunities for investors seeking to diversify their portfolios. Among the tokens frequently attracting attention in these discussions are Chainlink (LINK) and InQubeta (QUBE). Chainlink is an established Oracle network. On the other hand, InQubeta is a cryptocurrency that focuses on artificial intelligence with unique Features and a growing community. To evaluate their growth potential , it is essential to delve into the specifics of these crypto projects. Chainlink Chainlink is a decentralized oracle network that connects smart contracts with real-world data and external APIs. Its goal is to bridge the gap between blockchain technology and real-world applications by providing reliable and secure data feeds.  You might also like: Crypto revolution...

Elon Musk denied the recent accusations regarding his Dogecoin wallets. Musk’s attorney, Alex Spiro asserted that the plaintiff’s claim that Musk is a Dogcoin whale is baseless. The Plaintiff’s lawyer Even Spencer affirmed that the plaintiff strongly believe in the success of the case. Elon Musk, the co-founder and CEO of the American multinational automotive company Tesla denied allegations of owning Dogecoin wallets and being a Dogecoin whale. In a recent letter, Musk’s lawyer, Alex Spiro argued that the accusers have been providing a manipulated picture of Musk while calling him a Dogecoin whale. The crypto analytic platform WhaleChart on Twitter shared a thread asserting, “Elon Musk’s lawyer says the claim that the Tesla CEO is secretly a DOGE whale is ‘without basis’”. JUST IN: Elon Musk’s lawyer says the claim that the Tesla CEO is secretly a DOGE whale is “without basis.” — whalechart (@WhaleChart) June 18, 2023 Recently, the Tesla CEO w...

Binance and Binance.US have reached an agreement with the United States Securities and Exchange Commission (SEC) to secure customer funds and private keys by repatriating all Binance.US users’ funds to the United States, thereby preventing Binance Holdings officials, including Chanpeng Zhao, from accessing them. The development comes in response to the regulator’s request to freeze all of Binance.US’s assets as authorities continue to look into the lawsuit against the company. Binance and SEC ink compromise agreement  The United States web3 regulatory landscape has been quite challenging for market participants. The ongoing legal case between Binance, Binance.US, and the SEC is the latest in a series of enforcement actions against crypto businesses in the country.  The saga began when the SEC filed a lawsuit against Binance and Binance.US, accusing them of trading and offering unregistered securities to United States residents.  The lawsuit also rais...