InvestmentTradingUpdates

2022-10-02 11:42:02 Latest EU Sanctions to Restrict Russians’ Access to Crypto Services in Europe, Report Unveils

New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine are going to restrict European crypto services for Russians. Reports about the tightening have come after earlier this year the Union banned only “high-value” crypto-asset services to Russian residents and companies.

The European Union is preparing to punish Russia with more sanctions over its decision to announce partial mobilization as part of its escalating military intervention in Ukraine and moves to annex occupied Ukrainian territories through what are seen as sham referendums. The package will hit trade in the first place, with European Commission President Ursula von der Leyen announcing intentions to impose a new ban on Russian imports.

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2022-10-01 05:13:02 Binance Global Expansion Continues with Move Down Under

In an address to the Binance community, company founder Changpeng Zhao (CZ) has announced that the world’s biggest exchange will now expand into New Zealand. In a short video released on the Binance Twitter page on Thursday, CZ expressed excitement at the prospect of furthering the crypto industry in the country.

The arrival of Binance in New Zealand marks another chapter in the rapid growth of the financial goliath. In recent months the company has made moves to become a registered player in a number of regions including France, Italy and Spain. New Zealand marks another success story for the exchange which is seeking to legitimize itself after years of operating in regulatory gray zones. Kiwis will be able to access Binance services including spot trading, staking and NFTs.

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2022-09-30 12:14:02 Ooki DAO moves to raise funds to defend against CFTC lawsuit

Ooki DAO community members have commenced discussions to explore possible fundraising options to defend their case against the CFTC. The Commodity Futures Trading Commission (CFTC) had on Sept. 27 filed a lawsuit claiming that Ooki DAO’s leverage and margin trading services were illegal.

Consequently, voting members of the DAO are considered liable to face sanctions for allegedly violating the provisions of the Commodities Exchange Act (CEA). Ongoing discussions in the Ooki DAO forum have outlined three action plans to help the community raise funds to respond to the CFTC’s complaint. To bootstrap internally, DAO members could approve the withdrawal of funds from the Ooki treasury. The funds will be used to hire legal counsels that will represent accused Ooki DAO members.

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2022-09-29 15:43:02 1 MORE DAY TO @AffynOfficial BIG UNVEILS!!! This is one of the most severely undervalued projects that I believe will become the Number 1 blockchain Metaverse in the entire industry.

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2022-09-29 11:14:02 Japan to tighten laws to prevent money laundering via crypto by May 2023

The government of Japan is looking to introduce cryptocurrency transfer rules in May 2023 to track money transfers by criminals, according to a Nikkei Asia report on Sept. 27. The government will amend the Act on Prevention of Transfer of Criminal Proceeds to crack down on money.

As per the draft, in the case of exchange-to-exchange crypto transfers, exchange operators will be required to share customer information, including names and addresses, with each other. The idea is to track money transfers of criminals to determine when and where they send cryptocurrencies, according to the Nikkei Asia report. Exchange operators will receive administrative guidance and corrective orders in case of non-compliance with the new rules. Violating the corrective orders may lead to criminal penalties, as per the report.

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2022-09-28 05:10:10 Crypto Advocates Cheer California Governor’s Veto of Regulatory Bill

California Governor Gavin Newsom has vetoed a statewide bill that would have established a regulatory framework for cryptocurrency regulation—and crypto proponents are thrilled. In a Friday memo detailing the veto decision, Newsom called Assembly Bill 2269 “premature”.

The veto came despite strong support in the state legislature, where the bill secured 71 “yes” votes, 0 “no” votes, and nine abstentions. In his veto message, Newsom also cited the substantial cost of implementing the bill, sharing that the passage of AB2269 would require a loan in “the tens of millions of dollars” for the state. crypto firms would have been required to acquire a state-approved license to operate in California.

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2022-09-27 05:15:07 Going Public ‘Put Us on the Main Stage’: Coinbase CEO

Coinbase stock is down 84% since its all-time high price of $381 on its listing day in April 2021, but CEO Brian Armstrong still says going public has had huge benefits for the crypto company. Going public "has put us on the main stage, where we're able to get deals done with BlackRock and companies like Meta.

Armstrong told Messari CEO Ryan Selkis onstage at Messari's Mainnet conference in New York this past week. "Now we're the first Fortune 500 company doing crypto, and so we can go do deal with other Fortune 500 companies now, and they treat us more as a more legitimate force out there.". Before taking Coinbase public, Armstrong said, he spoke with several CEOs who had decided to stay private on the pros and cons.

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2022-09-26 09:55:03 CoinFlex creditors overwhelmingly back restructuring plan in early voting

CoinFlex's creditors have overwhelmingly backed the Seychelles-based crypto exchange's restructuring plans in the early hours of voting on the proposals. After almost five hours of voting today, tokens representing more than 99% of creditor assets had agreed to the proposed restructuring deal, according to a poll on Snapshot.

CoinFlex was founded in 2019 as a platform for physically delivered futures, before pivoting its focus to build a repo market for crypto. The exchange halted client withdrawals in June after a counterparty failed to pay a margin call. CoinFlex identified this counterparty as noted crypto investor Roger Ver — although Ver denied this and said he is the one owed money. CoinFlex went on to lay off staff in an effort to reduce costs.

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2022-09-25 05:10:10 Framework to ban members of Congress and SCOTUS from trading stocks includes crypto provision

A bill based on the proposed framework banning crypto investments could help to "restore the public's faith and trust in their public officials," according to Zoe Lofgren. Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should a bill get enough votes.

According to a framework released on Thursday, chair Zoe Lofgren of the Committee on House Administration — responsible for the day-to-day operations of the House — said she had a “meaningful and effective plan to combat financial conflicts of interest” in the U.S. Congress by restricting the financial activities of lawmakers and SCOTUS justices, as well as those of their spouses and children. The bill, if passed according to the framework, would suggest a change in policy following the 2012.

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2022-09-24 05:39:02 Harmony Publishes Revamped Horizon Bridge Recovery Plan

The team behind the Harmony protocol have presented a fresh proposal for the recovery of assets lost in the $100 million hacking attack on the Horizon Bridge in June this year. Harmony initially proposed to reimburse the hack victims with the protocol’s native token called ONE.

However, after an overwhelmingly negative reaction from the community, the Harmony team withdrew the plan and tabled an alternative way of compensating the users that would see it use the foundation treasury instead. According to the team, after “listening to our validators and community,” the goal is now to preserve the foundation of the Harmony blockchain “with 0% minting.”.

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