Binance, the world’s largest cryptocurrency exchange, has registered with India’s Financial Intelligence Unit (FIU), a senior FIU official said. The exchange was previously barred from operating in India for non-compliance with local regulations. In order to resume operations, Binance must pay a penalty for previous non-compliances. KuCoin, another offshore crypto exchange, has also registered with the FIU and resumed operations after paying a fine.
US stocks remained unchanged on Monday as investors awaited inflation data and the start of the first-quarter earnings season. The distraction of a solar eclipse and the potential delay of an interest rate cut by the Federal Reserve affected market sentiment. The Labor Department’s CPI report is expected to show a slight cooldown in price growth. The first-quarter reporting season will begin with numbers from major US banks on Friday. Tesla Inc shares received a boost after CEO Elon Musk announced the company’s plans to unveil its Robotaxi on August 8.
A timeline of events leading up to the sentencing of 32-year-old former billionaire Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, who has been sentenced to 25 years in prison. This article provides a brief overview of the key events leading to his conviction.
Bankman-Fried’s rapid ascent in the cryptocurrency world, followed by a dramatic downfall as he was found guilty on seven counts of fraud and conspiracy.
The cryptocurrency market has grown significantly in recent years, attracting attention from investors worldwide. However, alongside its potential, cryptocurrencies also come with risks and vulnerabilities. This article explores why crypto is considered unsafe today, including its regulatory uncertainty, volatility, security concerns, lack of transparency, and market manipulation. Additionally, it highlights several altcoins that have the potential to outperform despite these risks. Savvy investors can navigate the crypto landscape by conducting thorough research, exercising caution, and diversifying their portfolios.
A federal judge in Washington, D.C. questions Binance’s request for dismissal in a high-profile case brought against it by the SEC. Binance is asking the judge to toss out the lawsuit alleging rule-breaking and fraud. This lawsuit is one of Binance’s final legal challenges in the U.S.
Venezuela is shutting down the petro cryptocurrency, launched by President Maduro to bypass US sanctions, due to its failure and involvement in a graft scandal. The cryptocurrency struggled to gain traction and faced criticism as a scam. The corruption scandal led to resignations and arrests of government officials. Bitcoin remains popular in Venezuela as a safeguard against hyperinflation.
According to a senior politician in India, the country is unlikely to bring a crypto or Web3-specific legislative bill in the near future. Jayant Sinha, Chair of the Standing Committee on Finance, highlighted the need to strike a balance between innovation and safety. Factors such as evolving use cases, global standards, and regulatory actions against major crypto companies are delaying the introduction of a bill. Instead, India may opt for policy decisions and align with international recommendations.
Bitcoin maintains stability within a trading range despite regulatory uncertainty in the United States. The approval of a spot Bitcoin ETF may be delayed until 2024. Bitcoin’s price is at $37,400, reflecting a 3% weekly increase and a 125% surge year-to-date. Ethereum consolidates gains above $2,000. Alchemy Pay expands into the US, and the Bitcoin hash rate reaches an all-time high. The Monetary Authority of Singapore releases regulations for crypto service providers, and the Bank of Korea plans to pilot a central bank digital currency.
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