Day: August 30, 2023

EOS secures regulatory approval in Japan, will trade against yen

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The EOS token has been granted whitelist approval by Japan’s crypto regulator, paving the way for the token to be traded against the Japanese yen on regulated exchanges in the country.  In an announcement sent to Cointelegraph, the EOS Network Foundation (ENF), which currently supports the development of EOS, announced that the token has received whitelist approval from the Japanese Virtual and Crypto Asset Exchange Association. Here live at @WebX_Asia and @JPN_PMO Fumio Kishida just stated that Web3 is “the new form of capitalism”. While the West continues to antagonize blockchain…

DOJ moves to disqualify expert witnesses in Bankman-Fried trial

The U.S. Department of Justice has filed motions to disqualify all seven expert witnesses put forward by former FTX CEO Sam Bankman-Fried for his forthcoming October trial, citing various inadequacies in their qualifications and methodologies. The U.S. Department of Justice (DOJ) submitted filings on Aug. 29 to preclude all seven expert witnesses put forward by Sam Bankman-Fried, the founder and former CEO of FTX, in his forthcoming trial scheduled for October. In the legal documents, the DOJ argues that the defense’s roster of experts is rife with inadequacies that should…

British MPs call on government to scrap AI exemptions that hurt artists

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A British parliamentary committee is pressuring the government to axe plans that would allow artificial intelligence developers to freely train their systems on existing works of music, literature and art.  In an Aug. 30 report, the Culture, Media and Sport Committee warned the government’s original plan to exempt text and data mining by AI from copyright protections “risks reducing arts and cultural production to mere ‘inputs’ in AI development,” and shows a “clear lack of understanding” for the needs of the United Kingdom’s creators. The report claimed the U.K. government…

Dogecoin Price (DOGE) Holds Strong – Why Bulls Could Aim Rally To $0.078

Dogecoin is showing positive signs above the $0.0642 level against the US Dollar. DOGE could continue to rise if it stays above the $0.0606 support. DOGE started a decent increase above the $0.0642 resistance against the US dollar. The price is trading above the $0.065 level and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $0.0630 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price could correct lower, but dips might be attractive…

Wall Street grapples with losses in August, with crypto leading the line

Wall Street saw a $5.5 trillion market dip in August, while cryptocurrencies faced significant losses, challenging investor optimism. According to Bloomberg, August dealt Wall Street a bruising blow as the markets faced a challenging landscape—underscored by hawkish signals from global central banks that unnerved investors, catalyzing a drastic $5.5 trillion depletion in global stock valuations.  The repercussions were felt more sharply in the crypto industry. Digital assets, which had been poised for a revival in investor sentiment following industry-wide uncertainties post-FTX, instead found themselves mired in a deteriorating situation. Bitcoin…

Ethereum Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support

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Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains. Ethereum gained momentum above the $1,660 and $1,670 levels. The price is trading above $1,700 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now correcting gains from the $1,750 resistance. Ethereum Price Rally Stalls Ethereum’s price was able to start a decent increase from the…

SEC’s first deadlines to approve 7 Bitcoin ETFs coming over the next week

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The United States Securities and Exchange Commission is facing its first deadlines to decide on seven new Bitcoin (BTC) spot exchange-traded fund applications with the latest being Sept. 4 amid its defeat to Grayscale Investments in a U.S. federal appeals court. Investment firm Bitwise will learn if its ETF will win the SEC’s approval on Sept. 1 while BlackRock, VanEck, Fidelity, Invesco and Wisdomtree will all be awaiting the SEC’s decision for their funds by Sept. 2, according to several SEC filings. Meanwhile, Valkyrie is set to hear back from…

Bitcoin Price Starts Correction Post Rally, Why Dips Could Be Attractive

Bitcoin price rallied above $26,500 and $27,000. BTC tested the $28,000 resistance zone and is currently correcting lower toward $27,000. Bitcoin jumped and cleared the $26,500 resistance zone. The price is trading above $26,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance near $26,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is correcting gains, but it might find bids near $27,000 or $26,700. Bitcoin Price Regains Strength Bitcoin price started a decent…

Former SEC official hints at criminal probe in sealed Binance case

The SEC has requested permission to submit undisclosed documents under seal in its civil lawsuit against Binance, Binance.US, and CEO Changpeng Zhao. The U.S. Securities and Exchange Commission (SEC) submitted a request to the U.S. District Court for the District of Columbia, asking for permission to file certain documents under seal in its civil case against Binance, its U.S. subsidiary Binance.US, and the CEO, Changpeng Zhao (CZ). The content of the SEC’s motion itself is sealed, sparking speculation around the possibility of sensitive or potentially incriminating details. Former SEC official…