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Binance faced more regulatory challenges worldwide, particularly in the UK and Belgium, which increased the scrutiny on the exchange. Despite the ongoing regulatory issues in the crypto industry, there was a significant increase in institutional adoption of cryptocurrencies during the week as Mastercard and J.P. Morgan expanded their involvement in
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“Almost three quarters of jurisdictions are only partially compliant or not compliant with the FATF’s requirements” for virtual assets, according to a statement issued following a regular plenary meeting of the watchdog, chaired by Singapore's T. Raja Kumar. Original Source
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The suit was filed at the United States Bankruptcy Court for the District of Delaware. Bankrupt FTX exchange has filed a lawsuit against K5 Global – an investment firm owned by a former aide to Hillary Clinton. According to a Reuters report, the suit was filed at the United States Bankruptcy
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Since the regulatory issues have been covered and the law only permits trusted companies to issue the tokens, the move can help restore confidence in stablecoins and cryptocurrencies. Mitsubishi UFJ Financial Group (MUFG) is interested in using its Progmat blockchain platform for minting stablecoins and has been meeting with domestic and
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BRICS is an acronym that represents an alliance of five major emerging economies: Brazil, Russia, India, China and South Africa. Jim O’Neill, an economist at Goldman Sachs, coined the phrase in 2001 to emphasize the combined potential of these countries in the global economy. BRICS is an informal alliance that strives
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The United States Securities and Exchange Commission filed a lawsuit against Binance along with its U.S. platform and CEO Changpeng Zhao on June 5 in a Washington, D.C. federal district court for allegedly violating securities laws and offering unregistered securities. The U.S. regulator has accused the crypto exchange of offering unregistered
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance limits its services in unfavorable jurisdictions as regulatory authorities worldwide tighten their scrutiny. Binance UK is canceling its registration with banking regulators. On June 7, Binance UK requested to cancel its registration from the Financial Conduct
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“I think the actual choice of technology will really have to be decided for that particular use case,” Shin said at a Monday press briefing on the report. “It could be decentralized, like in a permissioned blockchain, but it doesn't have to be. It could be a centralized system as
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The IMF project on the global CBDC platform is aimed at enhancing the efficacy of payment systems. The International Monetary Fund (IMF) has started working on a global CBDC platform as different countries race to create their central bank digital currencies. IMF Managing Director Kristalina Georgieva revealed the matter, noting the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied International Monetary Fund (IMF) managing director Kristalina Georgieva revealed that the IMF is actively developing a platform dedicated to facilitating transactions between countries via central bank digital currencies (CBDCs). This move reflects the IMF’s commitment to fostering
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