Altcoin Holder

2022-10-27 12:39:16 ​​S. Korean watchdog goes after crypto whales to ensure AML compliance.

The South Korean regulator noted that popular stablecoins used by the public might become a primary tool for money laundering using digital assets.

South Korea’s financial watchdog, the Financial Services Commission (FSC), will monitor crypto whales with assets of over 100 million won ($70,000) to prevent money laundering efforts using digital assets.

The FSC noted that having a larger proportion of digital assets and stablecoins equates to a higher money laundering risk. Thus, special focus should be placed on monitoring crypto whales with significant digital-asset and stablecoin holdings under the new Anti-Money Laundering guidelines, reported local media.

The report also noted that stablecoins, especially those commonly used by the public, are more likely to be used as a means of crime. The report reads:

“In the case of an independently listed virtual asset, it is possible that it did not meet the listing criteria of other virtual asset operators, and it can be evaluated that the risk of money laundering of virtual asset operators with a high proportion of the virtual asset is high.”

Apart from monitoring crypto whales and their activities, the report also advocates for keeping an eye on retail customers making high-value deposits. Those customers should be monitored for any significant change in holdings every quarter.

“Customers with large virtual asset holdings are at higher risk of money laundering.”

South Korea is known for its strict implementation of crypto-related policies, especially in the wake of the collapse of the Terra ecosystem. Its financial regulators have doubled down on their efforts to ensure investor protection and bring crypto legislation by early 2024.

In August, the chair of FSC said the regulator plans to expedite its review of 13 bills related to digital assets pending in the country’s National Assembly. The aim of the review is to make institutional supplements that will take a balanced approach to blockchain development, investor protection and market stability. Open / Comment

2022-10-25 14:00:07 ​Craig Wright Defeated in Lawsuit Against Hodlonaut.

Australian computer scientist and self-proclaimed Satoshi Nakamoto, Craig Wright, has been defeated in a defamation case in Norway against the popular Bitcoin (BTC) influencer Hodlonaut.

The win for Hodlonaut came after a seven-day trial in Oslo, Norway in September. The trial came about after Hodlonaut sued Wright in Norway in an attempt to avoid another lawsuit that was brought against him in the UK by Wright.

Central to the case was whether Hodlonaut, an outspoken critic of Wright and his Bitcoin SV (BSV) cryptocurrency, was justified in calling Wright a liar and a fraud in 2019.

According to a transcript of the ruling, “the prevailing opinion in the media” has been, and still is, that “Wright is unlikely to be Satoshi Nakamoto.” Open / Comment

2022-10-23 21:14:57 ​​ Billionaire Ray Dalio predicted the collapse of cryptocurrencies

Billionaire and founder of Bridgewater Associates Ray Dalio assured that in the next 5 years, traditional financial markets will collapse and this may have a critical impact on the cryptocurrency industry. The head of one of the largest investment companies is not yet sure about the prospects of this technology industry. One of the scenarios could be detrimental to it.

Ray Dalio stressed that all financial markets will be in bad shape in the coming years, given everything that is happening in the world, including the tightening of U.S. monetary policy and the global global economic crisis. Unfortunately, the cryptocurrency market will not be spared.

The expert recommended to pay attention to the fact that since 2009, we can note a bullish mood in all financial markets. Most stock and investment instruments in many industries have only grown in value, including cryptocurrencies.

Despite the global correction seen in 2014, 2017 and 2022, digital currencies remain among the most profitable assets in the market with returns of up to 10,000% over the past decade. However, a spike in inflation rates and the dire state of many economies have triggered a cycle of rate hikes by the Federal Reserve (Fed).

As monetary policy tightens, institutional investors regularly withdraw their funds from high-risk assets, such as bitcoin (BTC) and other cryptocurrencies.

Dalio suggested that this trend could continue in the coming years. The entrepreneur noted: his forecast is not accurate, as there are some signs of an impending reversal in the rates of key exchange-traded and virtual assets. Open / Comment

2022-10-21 14:35:18 ​Japanese Yen Plunges to 32-Year Low Against US Dollar — Another Intervention by Authorities Expected

The Japanese yen’s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years — 147.66 JPY per dollar. The yen’s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since 1998.

The Japanese yen fell to a rate of 147.66 per dollar, its lowest exchange rate versus the U.S. dollar in 32 years, a report has said. The yen’s latest record-breaking fall came after official figures from the United States showed that prices had gone up faster than anticipated. The U.S. Federal Reserve has been using rate hikes to tame inflation but these have in turn caused the dollar to strengthen against other global currencies.

However, unlike other central banks that have followed in the footsteps of the U.S. Federal Reserve and raised interest rates, the Bank of Japan (BOJ) is said to have maintained an “ultraloose monetary policy.” Investors have in turn responded to the resulting gap between U.S. Treasuries and Japanese government bonds by selling the yen. Open / Comment

2022-10-19 19:14:50 ​Ethereum Wallet Metamask Adds Bank-to-Crypto Transfers via Sardine

According to a Consensys blog post published on October 11, the Ethereum-based wallet Metamask has added instant bank-to-crypto transfers via the automated clearing house (ACH) settlement merchant Sardine.

On Tuesday, the crypto firm Consensys published an announcement that explains the ETH wallet Metamask has added bank-to-crypto transfers through the ACH company Sardine. “With Sardine’s new instant ACH integration, you can buy crypto instantly with no settlement delays,” Consensys explains in the recently published blog post. The crypto firm added:

Instant ACH allows orders to complete in minutes instead of days like a standard ACH order, and works on holidays, unlike regular ACH.

The newly added feature via Sardine allows Metamask users to transfer their fiat for cryptocurrencies with a maximum limit of $3K per day. Users can also spend up to $5K per week or $25K per month in order to purchase more than 30 crypto assets. Consensys’s blog post says that not only does Sardine offer quick ACH services it also provides “robust compliance and fraud prevention infrastructure.” Open / Comment

2022-10-18 10:49:38 Fashion TV and FTVIO released their official Token called STYL and it gained over +150% before getting listed in Gate.io

You can buy STYL on pancakeswap and uniswap

Join our community to get more information
https://t.me/stylike_io_official

The coin is officially listed in CMC and Coingecko

Visit our website to learn more and get started NOW! Open / Comment

2022-10-17 19:19:51 ​​ Co-owner of a Binance subsidiary accused the exchange of filing inaccurate reports

Partners of Binance on the British market accused subsidiaries of the exchange in the submission of highly inaccurate reports, the media found out

The co-owner of a Binance subsidiary accused the exchange of submitting "highly inaccurate" annual report. It writes the Financial Times, citing the heads of the firm Dimplx.

According to the firm's executives, the financial statements of Binance Digital, a subsidiary of Binance, "do not accurately reflect" the nature of the business, turnover, assets and liabilities, "including potential tax liabilities" for 2020.

UK firm Dimplx was set up as a joint venture with Binance in the U.K. in 2019, but relations between the parties have since soured, the publication wrote. Binance Digital is controlled by Binance founder Changpeng Zhao. Another 20% is owned by Dimplx, created by two South African entrepreneurs.

In Binance co-owner Binance UK has already called the "minority shareholder" who is disappointed that the joint venture with the exchange has not brought results.

One of Dimplx's claims concerns the capital of Binance Digital. At the end of 2020, a subsidiary of Binance claimed that it had about £100 million in the form of "cash and/or accounts in bank accounts" and that the same amount belonged to "creditors".

Dimplx believes the £100 million represents balances held "on behalf of Binance Digital customers who visited binance.cöm. They also noted that customers making transactions on binance.cõm would have to "pay transaction fees".

At the same time, Dimplx found that Binance Digital's financial statements recorded "zero turnover or fees for any transactions made with any customer during the fiscal year." Binance Digital's 2020 report does not show any trading volumes or taxes paid. The Financial Times notes that Dimplx intends to sue Binance, but details of the claims remain undisclosed. Open / Comment

2022-10-15 21:02:42 Bestarz is an NFT play-to-earn fantasy football platform based on the real-world results, in which players create a team, collect unique player cards, and participate in weekly matches concurrent to weekly football events.

STARZ is a BEP-20 governance token in the BESTARZ universe.Users of applications on the BESTARZ platform can receive STARZ tokens as special rewards. Pre-sale will start soon.

Join their community to get more information
https://t.me/bestarzio

Visit their website to learn more and get started NOW! Open / Comment

2022-10-14 20:00:07 ​​ Decentralized exchanges are already replacing centralized

Citi Group experts assured that tighter regulation of cryptocurrencies could lead users to the use of decentralized trading platforms (DEX).

They gradually began to displace centralized exchanges (CEX). Analysts noted that the growth of the former was much faster over the past 2 years. Such data was provided in the company's report on the sector.

According to experts, users have already gradually started to leave centralized platforms to avoid cumbersome KYC (know your customer) identity verification procedures.

The report says that, among other things, DEXs provide distributed income, such as dividends to token holders and the ability to independently hold funds. In addition, such platforms offer significantly lower fees than platforms such as Coinbase Pro or Binance.

According to bank experts, one of the main differences between DEX and CEX is the way funds are stored. On decentralized platforms, there is no risk involved.

The collapse of credit platform Celsius Networks and broker Voyager Digital were cited as examples .

One potential driver of DEX volume growth in the near term will be increased oversight of the cryptocurrency industry. As more and more reporting on trading platforms begins to be required, users will switch to DEX to protect the privacy of their own data.

As of October 3, 2022, decentralized platforms accounted for 18.2% of total spot trading volume. The Uniswap exchange dominated. Open / Comment

2022-10-12 20:00:08 Aequinox Dex is a community-driven decentralized exchange that supports multi-token and weighted pools, automated portfolio management and liquidity deepening. Aequinox aims to become the predominant decentralized exchange on Binance Smart Chain that can support large swaps for stablecoins and commonly traded pairs with very low slippage and fees.

Join the project's IEO on P2PB2B: https://p2pb2b.com/token-sale/

More info: www.aequinox.io/
Twitter: twitter.com/Aequinox_Dex
Telegram: t.me/aalto_protocol Open / Comment