Philippine authorities received a request from regulatory authorities to ban Binance

Cryptocurrency News

The Infrawatch PH Public Policy Center has sent a letter to the Philippine Department of Trade and Industry asking them to initiate an investigation into the illegal marketing campaigns of the Binance crypto exchange. According to Terry Ridon, coordinator of the Infrawatch PH public policy think tank, advertisements for the Binance cryptocurrency exchange aimed at local consumers regularly appear on various social networks in the Philippines. Thus, Ridon said, the exchange is ignoring local regulations…

People’s Court of China banned the payment of wages in cryptocurrency

Cryptocurrency News

The People’s Court of China has ruled that stablecoins such as USDT cannot be used by employers for wages and any rewards. Despite the fact that all types of cryptocurrency transactions are illegal in China, some national companies still use virtual currencies to pay their employees. The reason for the legal proceedings was the appeal of an employee of the blockchain company, who accused his employer of refusing to pay wages in fiat yuan. According…

Belgian Supervisory Authority proposed to regulate cryptocurrencies as securities

Cryptocurrency News

The Belgian Financial Services and Markets Authority believes that issuers are required to know when cryptoassets are considered securities. Despite the fact that the law on cryptocurrencies in the EU is not yet in force. The FSMA has announced that digital assets that are limited in supply or can be traded for profit can be considered securities. Representatives of the regulator state that the European Union is now finalizing the Crypto Asset Markets Regulation (MiCA),…

Samsung has developed new chips for ASIC miners

Cryptocurrency News

South Korean electronics giant Samsung is finishing testing and starting test production of 3nm chips. The new chips are compatible with ASICs designed for ASIC miners. The technological novelty from Samsung is designed to solve a number of critical problems associated with bitcoin mining, for example, it will reduce power consumption by 30%. In addition, the use of new chips can increase the mining speed by about 15%, as well as increase the density of…

Jordan Belfort: “Over time, bitcoin will be traded as a store of value”

Cryptocurrency News

Former stockbroker Jordan Belfort believes that investing in bitcoin in the long run can protect investors’ funds from inflation. Previously, Jordan Belfort was convicted of fraud related to the securities market. His memoir inspired director Martin Scorsese to create the famous film The Wolf of Wall Street. In a recent interview, Belfort recommended that investors buy bitcoin not for short-term market manipulation, but for long-term storage. According to him, there will come a time when…

US Department of Justice accuses four cryptocurrency platforms of fraud

Cryptocurrency News

The US Department of Justice has filed charges against the creators of the cryptocurrency projects Baller Ape Club NFT, EmpiresX, Circle Society and Titanium Blockchain Infrastructure Services, accusing them of stealing investors’ funds. Le Anh Tuan, a 26-year-old Vietnamese national, is charged with conspiracy to commit wire fraud, according to a statement released by the US Department of Justice. The attackers organized the Baller Ape Club project, selling non-fungible tokens (NFT) in the form of…

Police return 40,000 euros worth of bitcoins paid to hackers to university

Cryptocurrency News

Maastricht University has returned bitcoins given to unknown attackers in 2019 for unlocking data. Hackers used ransomware to block teachers and 25,000 students from accessing personal data, academic papers and the library. This prevented students from taking tests and completing assignments. To restore access to data, cybercriminals demanded a ransom in bitcoins in the amount of 200,000 euros (about $208,000). The university was only able to pay 40,000 euros. During the investigation, the Dutch police…

China accelerates the development of the blockchain market

Cryptocurrency News

Despite the ban on cryptocurrencies in China, the pace of certification of new blockchain services is accelerating in the country. According to a review of government documents and interviews with industry insiders, the growth of the Chinese blockchain market has noticeably accelerated in 2022. The total number of blockchain services registered by the country’s Internet regulator, the Cyberspace Administration of China (CAC), has reached 1,821. The pace of certification of new blockchain services began to…

Meta shuts down Novi crypto wallet launched six months ago

Cryptocurrency News

Mark Zuckerberg’s company Meta (formerly Facebook), due to numerous problems, including with regulators, decided to stop supporting its own crypto wallet. On the official website of the Novi wallet, a message appeared stating that the wallet “will no longer be available for use after September 1st.” The Novi team warns users to withdraw all their assets stored on the platform before this date, as they will then be unavailable. Several Meta executives pitched the idea…

Singapore authorities accused Three Arrows Capital of providing false data

Cryptocurrency News

The Monetary and Financial Authority of Singapore (MAS) announced that the Three Arrows Capital cryptocurrency fund, which was on the verge of bankruptcy, was engaged in direct deception of the regulator. In 2013, the regulator granted Three Arrows Capital the status of a registered investment fund, provided that the amount of assets under its management does not exceed $250 million. According to the MAS, the amount of funds exceeded the maximum amount allowed between July…