Crypto Land

2023-07-29 17:02:08 US Senate Passes National Defense Bill: Here’s How It Affects Crypto

The bill's implication on the industry is far-reaching as it affects privacy coins, crypto mixers, and several digital asset exchanges. The United States Senate has passed the National Defense Authorization Act (NDAA), a law that sets the agenda and funding standards for the Department of Defense.

The bill sets the federal government’s defense funding at $886 billion with a 5.2% pay rise for service members. While funding was a major issue, the law affects several industries including the digital asset ecosystem.

Specifically, it targets crypto mixers alongside privacy coins that mask the identity of users making it difficult for authorities to trace blockchain transactions.

The cryptocurrency amendment in the bill was pushed by several senators including Elizabeth Warren, Roger Marshall, Cynthia Lummis, and Kirsten Gillibrand as they try to reduce the prevalence of crypto-related fraud among users. Open / Comment

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2023-07-26 16:30:31 Binance's New Platform in Japan to Provide Full Services from August

Binance revealed that it is finally ready to roll out its full services on its recently-launched subsidiary platform in Japan. The confirmation came from the exchange’s founder, Changpeng Zhao, during a conference in Tokyo earlier today, which he attended via video.

Zhao said that the services will become available in full starting in August 2023. In late May 2023, Binance announced a new platform in Japan.The platform was compliant with the local regulations and designed to provide services to Japanese users.

However, the exchange also said that it would take some time before it can launch its full services in the country. The company was able to enter the Japanese market thanks to its purchase of Sakura Exchange BitCoin in November 2022.

Acquisitions such as this one have been a common practice for companies to enter new markets. Sakura Exchange BitCoin provided Binance with an entry point into the market, and the exchange took it. Open / Comment

2023-07-23 19:02:29 China's Digital Yuan Hits $250 Billion Transaction Volume, Central Bank Governor Reports

The People’s Bank of China (PBoC) revealed that $250 billion worth of transactions have taken place using the country’s central bank-backed digital currency (CBDC) digital yuan in 18 months since the start of its pilot.

Speaking at a conference in Singapore, China’s central bank governor Yi Gang said that the central bank has transacted 1.8 trillion yuan as of the end of June.

The governor claimed that since the initial rollout of the digital yuan in January last year, there have been approximately 950 million transactions made from approximately 120 million wallets with an average transaction amount of roughly $260.

He further claimed that around 16.5 billion digital yuan was in circulation at the end of June, representing only 0.16% of China’s monetary supply. The digital yuan transactions amounting to $250 billion represent a growth of over 70% compared to the figure cited by the central bank in August 2022. Open / Comment

2023-07-20 18:02:06 Deltec Bank's Funds Seized by U.S. Secret Service in Money Laundering and Fraud Probe

The U.S. Secret Service seized multiple corporate accounts last month controlled by Deltec Bank, a Bahamian bank with ties to crypto-related firms.

New documents unsealed in a federal court on Monday reveal that the secret service seized several U.S bank accounts controlled by Deltec last month. As per the documents, the amount seized by the U.S authorities is above $58 million.

The seizures were made amid an investigation into organized, international criminal money laundering syndicates operating cryptocurrency investment and other wire fraud scams.

The bank accounts that were seized by the secret service were custodial accounts with Mitsubushi Bank UFJ Trust in New York, opened by Deltec on behalf of corporate clients.

U.S authorities linked certain Bahamian bank’s customers to shell firms involved in a cross border scheme. The scheme allegedly involves creating fake crypto websites to dupe victims into depositing their assets or cash. Open / Comment

2023-07-19 22:30:00 Get ready for the referral race!

PassimPay is launching contests for the most active users. Invite your friends, acquaintances, neighbors, and followers. Whoever gets the most referrals from 30.06 to 31.07 will receive pleasant bonuses.

Here are the details:

Starting from 30.06 and up to 31.07, invite users using your original referral link.
On 31.07, the contest will end, and we will choose three winners with the most referrals.
The top three winners will receive prizes of $150, $100, and $50.
4. Referrals taken into account are the ones who have completed at least one transaction.

Good luck to everyone! To take part - click here

Dont forget to follow us on Instagram and Reddit Open / Comment

2023-07-19 19:00:05 Are you in search of projects with real life use cases?

You definitely should check Silent Notary!

Imagine that you have access to a notary service that's always with you. A legal companion in your pocket with a testimony that everyone trusts. The days of a person in power needed to notarize legal evidence are now gone. Silent Notary has replaced this outdated process with an algorithm on your own smartphone

This is Silent Notary. See their website and socials to know more!

Website | Telegram Open / Comment

2023-07-19 16:00:09 Join our Exclusive Crypto Telegram Community!

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2023-07-17 20:59:08 SEC acknowledges Fidelity, VanEck, WisdomTree, and Invesco Spot Bitcoin ETF applications

On July 14, the Securities and Exchange Commission (SEC) acknowledged the spot Bitcoin ETF applications submitted by Fidelity, VanEck, WisdomTree, and Invesco.

This acknowledgment, published on the SEC's website, represents a significant milestone in the cryptocurrency industry's pursuit of spot Bitcoin Exchange Traded Fund (ETF) approval.

Furthermore, similar acknowledgments were reported today for BlackRock, while companies like ARK Investment and BitWise had received acknowledgments from the regulator before that.

It's important to understand that this acknowledgment only guarantees the immediate approval or rejection of the applications.

However, it does signify progress in the application process and a positive step forward. The SEC will now enter a period of deliberation, which is estimated to last around 240 days.

During this time, the regulatory body holds the authority to make decisions on the funds, including approving, denying, or postponing a decision, as suggested by analysts. Open / Comment

2023-07-01 17:00:38 Mind Network Secures $2.5M Seed Funding from Binance Labs, Other VCs

Web3 data security and privacy platform Mind Network has closed a $2.5 million seed round that attracted many key investors, including Binance Labs, the venture capital and incubation arm of Binance.

Mind Network provides users with end-to-end encryption and gives full control over personal data and financial transactions. Recently, Mind Network joined the Chainlink BUILD Program and participated in the Binance Incubation Program Season 5.

The funding round saw investments from Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and others, a company release noted.

Mason, CEO of Mind Network, expressed gratitude for the support and confidence from investors.

“This funding will enable us to further advance our groundbreaking technology and expedite the adoption of our platform across various industries, ensuring global data privacy and ownership for our users.”

The protocol established strategic partnerships with Chainlink, Consensys, Arweave, and other protocols to lay the foundation for the platform's growth. The collaborations have enabled the company to gain early supporters, including global banks, insurance companies, and dApps. Open / Comment