Month: June 2023

KuCoin to Require KYC Verification for All Users Starting from July

KuCoin CEO noted that the increased adoption of cryptocurrency has pushed the number of related security issues higher. Leading cryptocurrency exchange KuCoin has introduced additional checks to its KYC verification process. In a bid to comply with global anti-money laundering regulations, the firm announced the KYC system upgrade on June 28. As part of the upgrade, all new users will have to complete mandatory identity checks from July 15. Without this, such users will not have access to the firm’s suite of products. In the same manner, existing users will…

MicroStrategy boosts bitcoin portfolio with additional $347m investment

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MicroStrategy has announced the acquisition of an additional 12,333 bitcoins, investing roughly $347 million, thereby solidifying its position as a significant player in the crypto landscape. As per a recent Securities and Exchange Commission (SEC) filing, MicroStrategy, under the helm of Michael Saylor, has expanded its bitcoin portfolio with an additional investment of $347 million. The purchase, executed between April 29 and June 27, added 12,333 bitcoins to the company’s digital asset inventory, bought at an…

Payment-Centric Fintech Startup Innoviti Sets Eyes on $25M Funding to Promote Business 

Innoviti processes over $10 billion in transactions annually across more than 2,000 cities in India.  Innoviti Technologies, an Indian fintech startup, is exploring a fresh funding round that could potentially value the company at approximately $350 million, Bloomberg reported on June 28, citing people familiar with the matter. According to the report, the company seeks to raise around $25 million in the financing round to boost its business offerings and increase its market dominance. The startup, backed by renowned venture capitalists including Catamaran Ventures, the investment arm of Infosys Ltd,…

3-point plan for success – Cointelegraph Magazine

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Back in 1984, a U.K. television advertisement for Kit Kat chocolate bars was set in a music label’s office where a keen young band played their demo for a bored music executive. Afterward, they were served the famous chocolate bars and the manager said: “You can’t sing, you can’t play, you look awful… you’ll go far.” This is as close as I can get to explaining the appeal of memecoins to sensible, smart and intelligent people. But don’t be fooled: Smart people are making a lot of money out of…

Tencent and Ant Group Open Up Mobile Payments to Foreigners in China

The latest announcement means that Tencent and Ant want to allow visitors to make payments with different vendors in China. Foreigners can now easily pay for goods and services in China as payment giants Tencent and Ant Group said users can directly link international credit cards to their platforms. Therefore, tourists can connect their pay via the two dominant mobile pay apps- Tencent’s WeChat Pay and Ant Group’s Alipay. Over the years, China’s payment system has kept credit cards out of use, and this has been affecting foreign visitors. The…

Google Cloud Reveals ‘Productive Conversations’ with Authorities in EU on AI Regulation

The head of Google’s cloud division has said the company’s discussions with the EU will help create a “path forward” for AI development. Google is currently in productive talks with authorities in the European Union (EU) about artificial intelligence (AI) regulations. The company and EU regulators are having early discussions about designing safe AI technology. Google Cloud CEO Thomas Kurian told CNBC that the conversations are for the progress of the technology. Kurian also noted that the aim is to maximize AI opportunities despite its inherent risks: “We’re having productive…

BlackRock Has 50% Chance of Getting SEC’s Spot Bitcoin ETF Approval

The SEC may prefer to give BlackRock the approval because of its reputation. According to some Bloomberg analysts, BlackRock has a 50% chance of getting approval for its spot Bitcoin Exchange Traded Fund (ETF) from the Securities and Exchange Commission (SEC). On the other hand, they also speculated that Grayscale has a 70% chance of winning its ongoing legal case against the regulator. Eric Balchunas made the comment about the two companies in a tweet after Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, made some comments about them.…

UK Law Commission Proposes Building Rules for Governing Digital Assets

The UK Law Commission has submitted its proposal to the government to provide a comprehensive legal foundation for digital assets. As crypto adoption grows in the UK, lawmakers have started demanding a proper law base governing digital assets. The UK Law Commission has proposed having proper crypto rules to make the country a global hub for digital assets and non-fungible tokens. In a report on Wednesday, June 28, the independent panel of the Law Commission noted that the long-awaited recommendations “aim to provide a comprehensive legal foundation for digital assets,…

Buzzword or real security for crypto wallets?

Last month, hardware crypto wallet manufacturer Ledger announced its “Ledger Recover” program designed to allow customers to back up their seed phrases to the cloud and link it with their real-world identity. The announcement was met with heavy pushback from the crypto community, as many saw it as opposing the ideals of blockchain security and the decade-old mantra of keeping custody over one’s own keys. Ledger responded swiftly, assuring customers that their seed phrases were safe and that the Ledger Recover program was opt-in. But the entire saga has led…