Day: December 13, 2021

UAE Wealth Fund Mubadala Investing in Crypto Ecosystem: CEO

Mubadala Investment Company, one of United Arab Emirates’ sovereign wealth funds, is looking at investments in the ‘crypto ecosystem,’ CEO and Managing Director Khaldoon Al Mubarak said in an interview with CNBC. “I think its (crypto) is real, this is a business that had $200 billion worth of value two years ago, and is $2.5 trillion value today and growing. So while many people are skeptics, I do not fall in that category,” Al Mubarak said. The evolving regulatory environment will help crypto transition into something new, he added. Mubadala…

Crypto Exchange Binance to Withdraw Licensing Efforts in Singapore

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In a recent announcement to Binance.sg users, the crypto exchange mentioned that Binance Asia Services Pte Ltd (BAS) is planning to withdraw its licensing efforts in Singapore. From 13 December 2021, Binance.sg will not accept any new registrations. The digital exchange requested users to withdraw their crypto and fiat assets from Binance.sg. The company will shut down its digital payment token (DPT) services in Singapore by 13 February 2022. The current users of Binance.sg are still allowed to buy and sell crypto through their existing assets until 12 January 2022.…

Russia to Allow Foreign Residents to Own and Use Digital Ruble – Finance Bitcoin News

The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with cryptocurrencies and insists that state-issued digital currencies are safer. Bank of Russia to Give Foreigners Access to Its CBDC The Central Bank of the Russian Federation (CBR) will facilitate the exchange of the digital ruble with foreign currencies and allow users residing outside its jurisdiction…

Bitcoin Touches New Milestone With 90% of Total Supply Mined

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Prices have mirrored the increasing supply as demand for newer bitcoin heats up. The asset exchanged hands for less than $0.10, when 10% of the supply was mined in early 2010, and hovered over $7.50 when 50% of the supply was mined in December 2012. As of press time, it trades over $49,000, having declined 28% from its peak of $69,000 earlier this year, as per data from CoinGecko. Original

Chatex Users Ask US Treasury to Release Crypto Frozen by Sanctions

Chatex says that it had over 370,000 registered users. Among them is Alexander, a 35-year old crypto trader who asked that his surname not be used, (“They don’t like crypto traders here in Russia,” he explained.) Chatex had multiple traders selling and buying crypto peer-to-peer, and a user-friendly interface and API, he said. Chatex also added new coins faster than most exchanges, so “you could change anything for anything,” Alexander added. Source

Threat of Nested Exchanges and What Binance Is Doing to Combat Them – Sponsored Bitcoin News

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sponsored Nested exchanges are becoming a popular tool for money launderers. Learn all about nested exchanges/services and what we’re doing to combat them as well as how to avoid them and why accounts get blocked or frozen because of them. Main Takeaways: A nested exchange provides crypto trading services through an account or wallet on an existing host exchange. Nested exchanges are attractive crypto platforms for money launderers looking to bypass KYC and AML requirements. In this article, you’ll learn how to avoid nested exchanges, the common security issues and…

Korean Officials Quit Jobs to Join Crypto Industry, Lawmaker Reveals – Bitcoin News

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Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media. Former Financial Officials Hired by Major Korean Exchanges A growing number of officials in Seoul are vacating their government posts and moving to the crypto industry, according to Roh Woong-rae, member of the Korean parliament from the ruling Democratic Party. On Sunday, he called for the introduction of stricter rules regarding their employment…