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2022-11-28 03:03:00 Putin calls for blockchain-based international payment system

The Russian President criticized Western's sanctions and urged for a system "independent of external interference". Russian President Vladimir Putin criticized monopoly in global financial payment systems and called for an independent and blockchain-based settlement network on Nov 24. Putin also noted that global payments and nations are at risk due to tense relations between Russia and the West following Ukraine's invasion, labeling sanctions imposed by countries as "illegitimate restrictions". Another recent development, a bill was introduced into the Russian State Duma, the lower house of parliament, on Nov. 17 legalizing cryptocurrency mining and the sale of the cryptocurrency mined , laying down a legal framework for a national exchange.

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2022-11-27 21:14:00 El Salvador President Bukele Launches Special Agency to Handle All Things Bitcoin

El Salvador has become the global face of Bitcoin adoption. It has been over a year since the Central American country adopted Bitcoin as a legal tender. The country has been buying one Bitcoin per day since Nov. 18. On Wednesday, El Salvador introduced a digital asset issuance bill for crypto adoption. According to a LinkedIn post by Torres Legal, the government of El Salvador created the National Bitcoin Office (ONBTC) to manage all things related to cryptocurrency. Torres Legal is a group of lawyers with business and financial trading operating in El Salvador. The President of El Salvador and the Ministry of Tourism signed the creation of the entity through Decree No. 49, published in the Official Gazette of Nov. 17.

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2022-11-27 17:14:02 Turkey to Confiscate ‘Suspicious’ Assets Related to FTX: Report

Turkey’s MASAK is willing to seize assets associated with FTX and launch an investigation against SBF. The Financial Crimes Investigation Board of Turkey (MASAK) seeks to seize “suspicious” assets linked to the battered cryptocurrency exchange FTX. The Turkish agency sought a greenglight from the Istanbul Chief Public Prosecutor’s Office to launch a thorough inspection on FTX and its dubious activities over the years. The entity vowed to confiscate “suspicious” assets related to the platform should the regulators give their approval. MASAK is also willing to examine the actions of Bankman-Fried and determine his role.

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2022-11-27 13:25:02 MakerDAO Disposes of renBTC as Stablecoin Collateral

MakerDAO – the issuer of the decentralized stablecoin DAI – unanimously passed a proposal this week to remove renBTC as a form of reserve collateral. The Bitcoin-pegged token was deemed too risky to hold exposure to in light of its connections to the now-bankrupt trading desk Alameda Research. As announced by MakerDAO over Twitter on Thursday, Maker’s governance voted to offboard the RENBTC-A Vault type in a governance poll that opened on Monday.“Considering the acquisition of the Ren project by Alameda Research and the recent bankruptcy of the latter, the Ren development team disabled the Ren network mints,” said Maker. Ren 1.0 network, it said, will shut down within 30 days after November 18th.

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2022-11-27 03:14:01 Binance’s Zhao says industry is ‘healthier’ after a ‘nasty’ year

Binance CEO Chanpeng Zhao said the industry is in a "healthier" place after a "nasty" 2022, and he expects better things in 2023. He declined, however, to make any specific predictions. "The trick for us is to monitor the industry and then whatever is trending we try to support it," Zhao said. The CEO, who launched a recovery fund for troubled crypto companies in the wake of FTX's collapse, did not mince words when it came to his former competitor. Binance earlier today released its proof-of-reserves system, starting with bitcoin, in order to show that the exchange is healthy and solvent. For bitcoin, Binance has provided a snapshot of account balances and the exchange's bitcoin reserves

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2022-11-26 21:14:02 Binance clarifies initial $1 billion recovery fund deposit came from own assets

Crypto exchange Binance clarified that an initial $1 billion deposit to its crypto industry recovery fund came from its own assets after details of the transferring wallet raised questions among some commentators on Twitter. On-chain transactions show the funds came from one of Binance's cold wallets for BUSD, the exchange's dollar-pegged stablecoin. This wallet was recently listed in Binance's proof of funds documentation, which shows all the cold and hot wallets the exchange owns as part of a transparency push following this month's collapse of rival crypto exchange FTX.

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2022-11-26 15:14:02 Justin Sun, Tron DAO line up to contribute to Binance recovery fund: Exclusive

Blockchain operator Tron DAO and Justin Sun, its billionaire founder, have applied to contribute capital to Binance’s industry recovery fund. The application comes after seven crypto industry heavyweights were unveiled as its initial contributors yesterday. Binance published details of the fund yesterday after CEO Changpeng Zhao had earlier signaled a plan to launch it. Binance poured an initial $1 billion into the vehicle. Meanwhile, Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos and Brooker Group agreed to an initial aggregate commitment of around $50 million.

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2022-11-26 09:14:01 UK’s 'biggest ever' scam leads to 100 arrests after police track bitcoin records

More than 100 people were arrested in what the London’s Metropolitan Police calls “the UK’s biggest ever fraud operation” after taking down a fraud website called iSpoof used on 200,000 potential victims in Britain alone. Scotland Yard’s Cyber Crime Unit worked in cross-national cooperation, including authorities in the U.S. and Ukraine, to take down the site this week. In a 20-month period, the Met police claims the operation earned the criminals almost £3.2 million ($3.9 million). Tracing bitcoin records, which was used to pay for iSpoof’s services, allowed the Cyber Crime Unit to narrow down suspects.

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2022-11-26 03:14:01 Jump Crypto, Polygon Ventures, GSR contribute to Binance's $1 billion recovery fund

Binance's industry recovery fund, to which it's already contributed $1 billion, has attracted some big names early on including Jump Crypto, Polygon Ventures and market maker GSR. Binance is looking to amass around $1 billion for its “industry recovery fund,”. The fund was announced last week to help mitigate the fallout stemming from FTX's collapse. Binance's initial commitment of 1 billion BUSD can be verified at the following address. The addresses of other participants will be available in the next week. Binance expects more participants to join soon, with over 150 applications already received. Public addresses must be shared for transparency.

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2022-11-25 21:14:00 EU blockchain infrastructure plan proceeds as parliament passes digital policy

The European Parliament passed a vote on the Digital Decade policy program, which will help businesses and public services digitalize their work and promises support for a “pan-European blockchain-based infrastructure.".The plenary meeting vote passed by 529 to 22 on Thursday. The policy file sets ambitions for the European Union to achieve digitization goals for 2030. It outlines large-scale, so-called “multi-country projects” to achieve the targets covering topics such as building common data infrastructure, beefing up on high-performance computing, rolling out 5G internet corridors and investing in blockchain and web3 solutions.

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