Crypto Power - Shilling

2023-04-02 16:04:32 ​Terra co-founder Daniel Shin’s arrest denied by court, citing low flight risk.

Shin currently faces multiple fraud charges, specifically concerning allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs.

A local court in South Korea denied the prosecutor’s request to issue an arrest warrant for Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin. This was the second attempt made by South Korean authorities to reign in Shin following the recent arrest of Do Kwon — Terra’s other co-founder.

On March 23, Kwon was arrested at Podgorica airport in Montenegro while attempting to use fake documents to fly abroad. The Seoul Southern District Prosecutors Office took advantage of this situation and, on March 27, requested an arrest warrant for Shin, citing his involvement in cashing in illicit profits from Terra (LUNA) and TerraUSD (UST) sales.

However, the Seoul Southern District Court denied the request while citing unconfirmed allegations and the unlikeliness of Shin being a flight risk or destroying evidence, according to local media Yonhap.

Shin currently faces multiple fraud charges, specifically in relation to allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs.

Following Kwon’s arrest in Montenegro, authorities from both the United States and South Korea have tried to extradite the entrepreneur.

As Cointelegraph reported, Montenegrin Justice Minister Marko Kovač said the U.S. made diplomatic efforts to ask for Kwon to be handed over, while South Korean officials have requested extradition.

“In the case when we receive several extradition requests, I would like to say that determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors,” said Kovač through an interpreter. Open / Comment

2023-03-20 00:31:16 Arbitrum to conduct $ARB airdrop and launch self-executing DAO next week

https://www.theblock.co/post/220486/arbitrums-long-awaited-airdrop-to-go-live-next-week-with-self-executing-dao

https://arbitrum.foundation/

Arbitrum Airdrop Open / Comment

2023-03-11 02:32:32 ​S Korean Regulator Launches Crypto Trading Platform Probe

South Korea’s top financial regulator, the Financial Services Commission (FSC), has begun a “comprehensive inspection” of the nation’s crypto exchanges.

Per Decenter, Financial Services Commission (FSC) specifically wants to probe the 20 trading platforms that do not have licenses to trade fiat KRW. The media outlet noted that this is “the first time” the FSC has conducted a “comprehensive inspection” of exchanges that do not operate in the fiat markets.

The outlet said it expected that the inspection will focus on anti-money laundering protocols.

Under South Korean law, exchanges can offer crypto-to-crypto trading services, provided they meet certain criteria. To obtain fiat-trading licenses, however, they must form partnerships with commercial banks.

These banks must provide all exchange users with real name-, social security number-verified accounts linked to their crypto wallets. Open / Comment

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2023-03-05 04:12:27 Sakai Vault

Sakai Vault has $600K HC in Pinksale public presale. This is a really high HC, but they managed to raised $200K.$SAKAI has potential to revolutionize the Decentralised Finance space. Sakai Vault is a decentralized, perpetual exchange with low swapping fees & zero price impact trades on their multi-asset pool system. They're also offering 146% APR staking, a DEX swap, AI prediction tools & a tiered referral reward program to incentivise users. They do have a Certik audit in progress, current at 73%.Team is KYC’d & audited (and will also be getting a 2nd audit, by CertiK). Tax: 3%/ 3%.Sakai Vault is officially on Coinmarketcap and Coingecko

Pinksale Link : https://www.pinksale.finance/launchpad/0xa4Fc235CA67f1bF208f0EBbdd6E28C05251C3Cf7?chain=BSC

Website | Twitter | Whitepaper | Telegram | Discord | Github | Medium Dyor, Nfa Open / Comment

2023-03-01 04:19:44 Korea’s Act Review Committee Neglects “Digital Property Law” – Again!

The National Assembly of Korea held a subcommittee to consider the first bill this morning but continued not to discuss the “Digital Asset Basics Act.”. Although South Korean politicians expressed hope to develop the “Basic Law on Digital Assets” by 2022, it has been continuously ignored.

According to the report, although South Korean politicians expressed hope to develop a “Basic Law on Digital Assets” by 2022, the Bill Review Committee paused discussion on the bill last month. Therefore, the prescribed vacancy period is expected to be extended further. Unlike the country’s rapid release of ST0 regulatory guidelines in the past, this is due to the lack of smooth political consultations. Although 17 bills related to virtual assets were submitted that day, the discussions failed as they were pushed to a lower priority due to the amended Capital Markets Act. Open / Comment

2023-02-28 00:23:19 Crypto Power pinned a photo Open / Comment

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2023-02-24 03:27:04 Bankman-Fried searching for tech expert to advise on bail dispute, lawyers say

Sam Bankman-Fried’s lawyers are searching for a tech expert to advise the court on his bail dispute, they told a federal judge in a letter on Tuesday. Bankman-Fried’s bail dispute has stretched for weeks. He’s temporarily barred from using encrypted apps like Signal or a VPN.

Bankman-Fried’s bail terms have been in contention for weeks, after prosecutors accused him of contacting a potential witness on Signal and using a virtual private network to shield his internet use. Prosecutors asked the judge to tighten Bankman-Fried’s bail terms, suggesting the court should seriously curtail Bankman-Fried’s internet access. Judge Lewis Kaplan suggested Bankman-Fried bring in a technical expert to advise on issues around his bail during a court proceeding last week. Open / Comment

2023-02-22 06:06:43 Hong Kong’s Ambition To Be A Crypto Hub Quietly Backed By The Beijing

The mainland government in Beijing may be covertly encouraging the idea as Hong Kong gets ready for a consultation process that might eventually authorize a type of retail crypto trading in the territory, according to Bloomberg.

Representatives from China’s Liaison Office and other officials have been frequent guests at the city’s crypto gatherings over the past months, exchanging business cards and WeChat details which are familiar with the company. In this matter, the person asked to remain anonymous to discuss personal information. Hong Kong rolled out the red carpet for crypto businesses to help revive the struggling financial hub. Signs are emerging that the push has implicit backing from Beijing, giving mainland Chinese companies an incentive to return. Open / Comment