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Cambodia crackdown locks out 16 crypto exchanges

  • Cambodia has intensified its digital assets regulatory measures.
  • It has placed a ban on 16 popular cryptocurrency exchange platforms.

Cambodia has reportedly blocked websites of 16 crypto exchanges amid regulatory efforts to combat potential crypto related crime.  Among those blocked are Binance and Coinbase.

Binance is the world’s largest cryptocurrency exchange by trading volume and global user count, while Coinbase is the largest US-based crypto exchange.

Cambodia’s crackdown on unregistered exchanges

In a move to regulate the crypto space, the Cambodian government requires the exchanges to obtain a legal licence from the country’s Security and Exchange Regulator and the said exchanges failed to do so.

The Cambodian Telecommunication Regulator cited that the 102 sites banned were linked to online gambling. Shockingly, Binance which had signed a partnership with the Cambodian authorities in 2022, is among those whose sites are inaccessible following the TRC ban.

However, despite this ban, most of the banned exchanges’ mobile apps remain functional.

The National Bank of Cambodia banned the use of cryptocurrency in 2017 though citizens continued to gamble and do online exchanges of the said digital assets. The recent ban, as Nikkei Asia reported, is because the exchanges lack the licenses as required by TRC.

Despite the unfolding development, exchanges and other platforms play a huge role in the development of the country’s growing digital assets economy

Binance presence in Cambodia

In 2022, Binance signed an agreement with SERC to support Cambodia’s digital assets. The exchange went further to cement its presence in the country with a partnership with the conglomerate Royal Group.

Binance is among multiple exchanges that also faced a similar scenario to that reported in Cambodia earlier this year.

In January 2024, Indian authorities banned several platforms for failing to register.

This came a few days after India’s Financial Intelligence Unit pushed for the removal of exchange apps of several crypto exchanges from the Apple App Store and Google Play Store. It wasn’t until August 2024 that Binance officially reentered the Indian market, paying a $2 million penalty in the process.

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Michael Saylor urges Microsoft to adopt Bitcoin, says it represents digital capital

  • Michael Saylor said Bitcoin represents the “greatest digital transformation of the 21st century”
  • Saylor believes it “makes sense” for Microsoft to buy and hold Bitcoin rather than buy stock back or hold bonds
  • Over the past five years, Saylor said that Microsoft has surrendered hundreds of billions of dollars of capital

Michael Saylor has told Microsoft that Bitcoin is the best asset a company should own, claiming it represents the “greatest digital transformation of the 21st century.”

Taking to X, Saylor, CEO of MicroStrategy, posted a three-minute video tagging Satya Nadella, Microsoft’s chair and CEO, and its board of directors. In the video, Saylor said:

“Microsoft can’t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.”

Talking about long-term capital, Saylor noted that risk – including general taxes, politics, recession, regulation, war, and the weather – is destroying over $10 trillion in capital each year.

Because of this, investors are turning their attention to digital capital, such as Bitcoin, to avoid these risks. In Saylor’s view, “it makes sense” for Microsoft to buy and hold Bitcoin rather than buy back stock or hold bonds.

“If you’re going to outperform, you’re going to need Bitcoin,” Saylor said. “You’ve surrendered hundreds of billions of dollars of capital over the past five years, and you’ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you’re going to need an asset without counterparty risk.”

In Saylor’s opinion, that lies with Bitcoin.

MicroStrategy is fully behind Bitcoin

Since August 2020, MicroStrategy has been buying Bitcoin. Since then, the company now holds 402,100 Bitcoin, valued at more than $38.4 billion, according to MSTR-Tracker.

Earlier this month, MicroStrategy purchased an extra 51,780 Bitcoin, valued at $4.6 billion. In a post on X yesterday, Saylor posted that the company had bought an extra 15,400 Bitcoin at $95,976 per Bitcoin.

The post Michael Saylor urges Microsoft to adopt Bitcoin, says it represents digital capital appeared first on CoinJournal.

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Coinbase partners with Apple Pay for fiat-to-crypto purchases

  • Coinbase has added Apple Pay for fiat-to-crypto purchases via its Coinbase Onramp.
  • The integration brings a tool for building onramps into users’ existing products.

Coinbase has announced the integration of Apple Pay for its fiat-to-crypto on-ramping.

The Apple Pay partnership will see users benefit from easy fiat-to-crypto purchases via the crypto exchange’s Coinbase Onramp, a tool that allows users to build onramps into their existing products.

Get on-chain easily with Coinbase Onramp

With onboarding to crypto largely complex for many platforms and users, made even more unwelcoming with the back and forth of KYC, Coinbase says its tool removes all these.

“Coinbase Onramp takes the hassle out of fiat-to-crypto conversions with lightweight KYC for eligible purchases, free USDC on and off-ramping, and access to the most popular payment methods. With Apple Pay, getting onchain only takes seconds,” the exchange wrote in a blog post.

Adding Apple Pay as a payment method means users will enjoy faster onboarding. The end-to-end experience will only take seconds for users to convert their fiat to crypto. Coinbase Onramp also means businesses can access more than 60 million Apple Pay users in the US.

The integration also means free on and off-ramping with USDC.

In April this year, Coinbase announced support for Apple Pay for its users in the UK, adding the capacity to buy Bitcoin, Ethereum and other digital assets with the payment option.

The post Coinbase partners with Apple Pay for fiat-to-crypto purchases appeared first on CoinJournal.

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5 top altcoins to watch and buy before Christmas 2024

As the bull market picks up speed, the crypto market is humming with activity as 2024 draws to an end, and investors are preparing for what might be a turning point. This is a critical period to find companies with strong foundations and creative ideas for individuals trying to diversify their portfolios and profit from interesting altcoins. Among these, Rexas Finance (RXS) and four other outstanding ventures are gaining growing interest from investors and analysts alike. Every one of these tokens has special qualities that could help them to expand steadily as we enter the next year.

Rexas Finance (RXS): Transforming Real-World Asset Tokenization

Leading real-world asset (RWA) tokenizing innovator Rexas Finance is creating waves. Rexas Finance uses blockchain technology to enable the fractional ownership of usually illiquid assets such as real estate, commodities, and collectibles. This creative strategy democratizes access to valuable markets, therefore increasing their availability to regular investors. Rexas Finance is in Stage 8 of its presale right now; tokens run $0.10. With almost 251 million tokens sold out of the 290 million allowed for this stage, the presale already raised an amazing $16.9 million. Rexas Finance has chosen a community-driven presale model rather than many blockchain initiatives depending on venture capital funding. This choice guarantees a more fair token distribution and so helps to match the interests of the project with those of its early sponsors.

Recent CoinMarketCap (CMC) and CoinGecko listings for the project have raised its profile and helped investors monitor its development and market performance. Furthermore improving investor confidence is a thorough CertiK assessment, which emphasizes the security and openness of the platform.

Novel Ecosystem Tools

Rexas Finance is an ecosystem not only a token. Important elements comprise:

  • Rexas Quick Mint Bot allows non-technical users to access the tokenizing process by streamlining it on Telegram and Discord.
  • Rexas Estate is a committed platform for tokenized real estate assets offering unheard-of property market liquidity.
  • Rexas AI Generator allows intelligent customizing tools to create automatic asset tokens.
  • Rexas Finance is a must-watch altcoin for 2024 with a defined path map and a complete toolkit.

Solana (SOL): Core Speed and Scalability

Among developers for distributed apps (dApps), DeFi, and NFTs Solana is still one of the most scalable and efficient blockchains, so it is a preferred one. Its low costs and fast transaction speeds provide a clear advantage over rivals; recent changes in its ecosystem have helped to support its dominance.

Why Solana?

The emphasis of the blockchain on user experience and ecosystem development has drawn big companies and initiatives. Solana stays a major contender for exponential expansion as we enter 2025 with more acceptance and alliances.

Chainlink (LINK)—The Essential Blockchain Oracle

A pillar of the blockchain universe, Chainlink offers distributed oracles bridging smart contracts with actual facts. Chainlink’s products have become absolutely essential as DeFi, gaming, and enterprise blockchain applications expand.

What Distinguishes Chainlink?

From price feeds for DeFi systems to weather prediction for insurance, Chainlink’s oracles find use in many fields. Future developments including Chainlink Staking 2.0 are meant to confirm its market leadership even more.

Immutable X (IMX)—the Blockchain Gaming Leader

Providing a Layer 2 solution with low gas fees and rapid transaction processing, Immutable X is transforming the NFT and gaming environments. Its relationships with big gaming companies have helped it to become a hotspot for digital collectibles and blockchain-based games.

Why Purchase Immutable X Today?

Immutable X is ideally positioned to gain from the growing embrace of blockchain by the gaming sector. Its focus on scalability and user-friendly solutions makes it an interesting investment; its ecosystem is fast-growing.

Stacks (STX) — Bringing Bitcoin Smart Contracts

Stacks enable smart contracts, DeFi, and NFTs using Bitcoin’s security and immutability. Building on Bitcoin’s blockchain, Stacks presents a novel way of combining the dependability of Bitcoin with Ethereum-like capability.

Unique Value Proposition of Stacks

Stacks is positioned to gain from the rising interest in Bitcoin-layered solutions as the story of Bitcoin develops transcends mere currency. Its ecology is growing steadily as more developers investigate its possibilities.

Why These Altcoins Could Represent a Buying Opportunity Right Before Christmas

Now could be the moment to set yourself up for possible exponential returns as the bull market picks up traction. Supported by a great presale performance and complete ecosystem tools, Rexas Finance (RXS) distinguishes itself for its creative approach to real-world asset tokenization.

One of the most intriguing initiatives to follow is CMC and CoinGecko listings together with a CertiK audit. Solana, Chainlink, Immutable X, and Stacks each add special value from scalability and necessary infrastructure to gaming and Bitcoin integration.

These cryptocurrencies have chances for both long-term development and quick profits, thereby reflecting the variety and possibilities of the cryptocurrency market. Use these interesting initiatives as the Christmas season gets ready to create a portfolio poised to profit from the next surge in crypto market expansion. These altcoins could be your pass to a rich 2025 regardless of your level of experience with investing or newness in this field.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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