Schlagwort: crypto business

• Philippines’ SEC initiates measures to block access to Binance.
• Former Binance CEO, Changpeng Zhao, recently stepped down and pleaded guilty in the US.
• The Philippines’ SEC advises Filipino users to withdraw investments from Binance within three months.

The Philippines’ Securities and Exchange Commission (SEC) has set in motion measures to restrict access to Binance, the world’s largest cryptocurrency exchange.

This move follows the recent resignation of Binance’s CEO, who pleaded guilty to breaching US anti-money laundering laws. Changpeng Zhao has also resigned from the Binance.US board.

Binance accused of unregistered operations

The Philippines’ SEC asserts that Binance, the crypto giant, is operating without proper registration and lacks the required license to offer securities in the Philippines. The regulatory body has issued an advisory, outlining the removal of access within three months to allow Filipino users ample time to withdraw their investments.

In its advisory, the Philippines’ SEC has urged major online platforms, including Google and Meta, to cease displaying advertisements from Binance within the Philippines. Simultaneously, the SEC warns individuals involved in promoting or convincing others to invest in the platform that they may face criminal liability.

The move by the Philippines’ regulatory body comes days after the former Binance CEO Changpeng Zhao stepped down after pleading guilty to deliberately causing the exchange to fail in maintaining an effective anti-money laundering program.

This development underscores the escalating regulatory scrutiny faced by cryptocurrency exchanges worldwide, as authorities aim to establish robust frameworks to ensure compliance with financial regulations. The SEC’s decisive actions aim to uphold regulatory standards and protect investors within the rapidly evolving landscape of digital assets.

The post Philippines’ SEC to restrict Binance access following CEO’s guilty plea appeared first on CoinJournal.

• IOTA continues strategic expansion with first DLT Foundation in the UAE’
• The IOTA Foundation will allocate $100 million to the initiative.
• IOTA price was rallying after the news, up 50% at the time of writing.

IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE).

The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26.

IOTA Foundation allocates $100 million to initiative

Per today’s announcement, an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protocol.

The funding will also go towards community-driven projects and regulatory synergy, the IOTA Foundation said. Among initiatives to receive greater attention will be those targeted at IOTA and Shimmer, its staging network.

On what this means for IOTA’s push to align with regulatory developments, IOTA co-founder Dominik Schiener, said:

“The IOTA Foundation’s support from ADGM and our partnership with UAE authorities is about more than global expansion. It’s about ushering in a new era of regulatory synergy in the crypto markets. We want to ensure that we take the right steps toward digital autonomy for everyone, and that means making sure a diversity of communities take an active role in shaping the Foundation’s technology and governance.”

IOTA’s partnership with the ADGM comes as the UAE increasingly becomes an important international crypto destination. As a leading financial center, the country has attracted several blockchain and crypto-related companies.

Today, stablecoin issuer Paxos announced it had secured two in-principle approvals from the Financial Services Regulatory Authority (FSRA). The company is now set to issue stablecoins and provide brokerage and custody services in the ADGM.

The post IOTA announces $100 million Ecosystem DLT Foundation in the UAE appeared first on CoinJournal.

• Bonk (BONK) price rising after KuCoin listing.
• Dogecoin’s on-chain activity resurges.
• Additionally, Dogecoin’s DOGE-1 mission to the moon has been approved.

Recent meme coins’ developments have stirred excitement and intrigue among cryptocurrency investors and enthusiasts alike. This news update covers the notable surge in Bonk (BONK) following its listing on KuCoin, the approval of the Dogecoin-funded DOGE-1 Mission to the Moon, and the resurgence of Dogecoin (DOGE) with a surge in on-chain activity.

Additionally, we delve into the ongoing presale of Shiba Memu (SHMU), a unique meme token with self-sufficient marketing capabilities.

Bonk (BONK) soars on exchange listing

Cryptocurrency investors witnessed a remarkable surge in the price of Bonk (BONK) as it jumped following its listing on the crypto exchange KuCoin.

At the time of writing, BONK had risen by 18% in the last 24 hours, reaching $0.00000451.

The KuCoin listing announced through a tweet by Bonk, triggered increased liquidity and accessibility for users and investors. The listing celebration includes a campaign with a BONK prize pool worth $58,000 for qualified users, fostering further engagement within the community.

Dogecoin’s moon mission DOGE-1 gets NTIA approval

In another groundbreaking development for meme coins, the Dogecoin-funded DOGE-1 Mission to the Moon has achieved a significant milestone by receiving approval from the National Telecommunications and Information Administration (NTIA).

This clearance is a crucial precursor to obtaining the final Federal Communications Commission (FCC) license, addressing the X-Band and S-Band communications for the satellite. Set to launch on December 23 as part of Astrobotic’s Peregrine Mission One, the mission marks a collaborative effort with payloads from prestigious entities, including NASA.

Dogecoin’s on-chain activity surge

In addition to the positive news about its moon mission, Dogecoin (DOGE) is also experiencing a resurgence in popularity, marked by a notable increase in on-chain activity.

According to on-chain analytics firm IntoTheBlock, the number of addresses holding Dogecoin has surpassed five million, reaching a new peak of 5.11 million addresses.

The surge is accompanied by a doubling of active addresses, reaching 168,000—the highest since March 2022. Confirmed transactions on the Dogecoin blockchain have spiked, experiencing a remarkable 1,000% increase in the past 10 days. Despite a recent price decline, the heightened on-chain activity indicates growing interest from institutional investors and large holders.

Shiba Memu (SHMU): the new meme coin disrupting the market

Shiba Memu (SHMU), though a new meme coin, stands out with its self-sufficient marketing capabilities powered by AI technology. Currently, in the presale phase, Shiba Memu aims to revolutionize meme token marketing by creating its own strategies and engaging with users directly through an innovative AI dashboard.

The presale is coming to an end in the next 30 days, and potential investors should take note of the unique pricing mechanism – the SHMU token price increases every few hours during this presale period. The project’s whitepaper outlines ambitious plans, including the launch of an AI marketing dashboard, integration with decentralized applications, and continued development for long-term growth.

For more information about the Shiba Memu presale, you can visit their official website here.

The post New altcoin steals the show as Bonk surges on KuCoin listing and Dogecoin’s on-chain rises appeared first on CoinJournal.