Day: July 26, 2022

SEC Philippines to investigate Binance over alleged illegal operations

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Philippines’ think tank Infrawatch PH continues efforts to ban Binance in the country by asking more regulators to investigate the cryptocurrency exchange over alleged illegal operations. Infrawatch PH on Monday filed a twelve-page complaint calling on the Philippines’ Securities and Exchange Commission (SEC) to crack down on Binance’s activities in the Philippines. According to the think tank, Binance has been operating in the Philippines for several years without approval by appropriate authorities. Terry Ridon, the convenor for Infrawatch PH, claimed that Binance has no office in Manila and only uses…

Tether Finds Stable Dollar Peg After Terra’s Collapse

In other words, tether has passed the market’s stress test, withstanding redemptions in volatile conditions and eventually reclaiming the peg. “The past two months have definitely been a stress test for stablecoins following the collapse of UST and sharp contraction in USDT’s market cap,” Clara Medalie, research director at Kaiko, said. “Tether proved it’s ability to process billions in redemptions, despite lingering questions over the makeup of its reserves.” Source

Japan Ministry of Economy launches Web3 policy office

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The new body will bring together the financial regulators and creative industries to formulate the policies in the Metaverse. In an important landmark for the buzzword, The Ministry of Economy, Trade and Industry (METI) of Japan opens its own Web3 Policy Office in the Minister’s Secretariat. The new entity commits to bringing together the departments responsible for industrial finance, taxation, corporate system and those that deal with media and content, sports, fashion and the other entertainment industries.  The July 15 announcement specifies the mission of the new office would be to strengthen…

Crypto Mining Firm EZ Blockchain Launches Low-Emission Custody Hosting Service

Crypto miner EZ Blockchain will promote its low-emission custody all-inclusive hosting service at the Mining Disrupt conference in Miami from July 26-28. Currently, the hosting service will serve cryptocurrency mining investors in four states, including Kansas, Texas, Colorado, and South Carolina. EZ Blockchain is committed to solving the global problem of wasting energy and connecting the blockchain ecosystem with sustainable energy. The company also said it would be working on a 1.5mW mobile submerged mining vessel solution shortly. The product has already started mass production and is expected to be…

Titanium Blockchain’s CEO Pleas Guilty of ICO Fraud worth $21m

Michael Alan Stollery, CEO of Titanium Blockchain Infrastructure Services Inc. (TBIS), has admitted of involving multiple fraudulent accounts in a 2018 initial coin offering (ICO). In May 2018, Stollery and his company were charged by the U.S. Securities and Exchange Commission (SEC) with conspiracy to defraud investors. Stollery admitted that he had conspired to defraud millions of cryptocurrency investors through ICOs. And by forging the white paper of TBIS’s ICO, implanted false customer recommendations to create ICO’s planned marketing activities and legitimacy and publishing misleading and false information with development…

NFT Market Projected to Reach $200 Billion in 2030 – Bitcoin News

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A new report is predicting that the total value of the NFT market will reach $200 billion in 2030. The report, issued by Grand View Research, a multinational market insights company, found that the rising demand for this kind of instrument — due to its growing number of applications — will fuel growth of the market. NFT Market to Reach $200 Billion, Fueled by Growing Demand Non-fungible tokens (NFTs) are becoming more popular due to their wide array of applications in different industries. A recent report issued by…

US Senators Push Bill to Make Small Crypto Transactions Tax-Free

“This would foster use of crypto for retail payments, subscription services, and micro transactions,” said Jerry Brito, executive director of Coin Center, a crypto policy think tank in Washington. “More importantly, it would foster the development of decentralized blockchain infrastructure generally because networks depend on small transaction fees that today saddle users with compliance friction.” Source

Breaking: SEC Confirms Bitcoin Is Not A Security!

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