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As crypto adoption grows, central banks around the world are adopting new anti-money laundering and counter-terrorism financing guidelines for financial institutions. advertisement New crypto and NFT guidelines in UAE The new guidelines set by the UAE’s central bank will come into effect within a month. These guidelines will be applicable to all licensed financial institutions, including banks, finance companies, exchange houses, payment service providers, registered hawala providers, insurance companies, agents, and brokers. Central bank’s guidelines discuss risks while dealing with crypto currencies and crypto service providers and signifies the effective implementation of legal obligations for licensed financial firms. In addition, the central bank also provides clear definitions of virtual assets, virtual asset service providers, and their business models. UAE continues to strengthen crypto regulations The Governor of the UAE C...

The open-source blockchain protocol XDC Network has announced its partnership with the SBI Group’s crypto exchange SBI VC Trade Co. Ltd, in an attempt to establish itself as a global leader in blockchain solutions by bringing digital transformation in the finance sector. Atul Khekade, the co-founder of XDC Network, shared his ecstasy in collaborating with SBI, commenting on the vast opportunities in Japan. He quoted: Japan is a crucial hub for international trade, and our blockchain platform aims to streamline this sector by improving transparency, traceability, and reducing costs. Through our collaboration with SBI VC Trade, we look forward to empowering businesses and financial institutions in Japan with the benefits of the XDC Network. XDC Network has been invested in developing its ecosystem since its beginning. Its partnerships and developments have been demonstrative of its enthusiasm for building a robust network. Recently, the XDC Network announced the launch ...

Join Our Telegram channel to stay up to date on breaking news coverage The Securities and Futures Commission (SFC) of Hong Kong has finalized rules to allow retail trading of crypto beginning June 1. The regulator made this announcement on May 29, paving the way for a much-anticipated step in the city’s push to become a virtual assets hub. According to a report on its consultation on policy recommendations released Tuesday, the SFC has agreed to allow licensed virtual asset providers to serve retail investors, provided that operators assess their understanding of the risks involved. In February, the SFC solicited public feedback on its initial policy recommendations. Hong Kong Crypto Security Regulations Currently, no security regulation bodies exist for cryptocurrency in Hong Kong. Still, the country has put in place three financial governing bodies to take charge of the regulation: The Securities and Futures Commission The Hong Kong Monetary Authority (HKMA) The In...

The Graph price prediction shows that GRT moves to the upside as any close above the $0.130 price mark is expected. The Graph Prediction Statistics Data: The Graph price now – $0.126 The Graph market cap – $1.1 trillion The Graph circulating supply – 8.9 trillion The Graph total supply – 10.6 trillion The Graph Coinmarketcap ranking – #41 GRT/USD Market Key Levels: Resistance levels: $0.160, $0.170, $0.180 Support levels: $0.090, $0.080, $0.070 GRTUSD – Daily Chart GRT/USD is seen trading at $0.126 after recording an intraday high at $0.129 during the European session today. Looking at the daily chart, The Graph (GRT) is heading toward the upside as the coin trades bullishly. GRT/USD is trading above the 9-day and 21-day moving averages after the beginning of today’s trade at $0.123. The Graph Price Prediction: GRT May Price Spike to the Upside Since the beginning of this month, the Graph price has been ranging within the channel...

The popular social platform is about to hit a big milestone in terms of collectible avatar holders after launching "Reddit NFTs" in July 2022. Social platform Reddit is close to breaching 10 million holders of its collectible avatars, or “Reddit NFTs,” nearly 11 months after its launch in July 2022.  According to Dune Analytics, there are currently a total of 9,909,465 million Reddit collectible avatar holders. Around 7.7 million of these are identified as single collective avatar holders, or those that do not have multiple wallets. Reddit Collectible Avatars - Source: Reddit Reddit launched a collectible avatar marketplace on the Ethereum scaling network Polygon in July 2022. NFTs in the customizable collection have been designed by independent artists and Reddit content creators. Avatar holders surged following the collection’s launch but reached a plateau at around 3 million in November. However, there has been a big growth spurt in 2023 with the number of wallets tr...

Valuations & Investor Sentiment Raise Concerns Hussman relies on two critical indicators to gauge stock market direction: valuations and investor sentiment and both factors are currently alarming, according to his Analysis . Using his preferred valuation measure, which compares the market cap of nonfinancial stocks to gross value added, Hussman asserts that the market is even more overvalued than during the dot-com bubble and the 2008 financial crisis. advertisement Read More: Binance CEO Reacts To China Releasing Web 3.0 White Paper Amid Hong Kong Crypto Push Investor sentiment also worries the 60-year-old economist, as he points to the poor market breadth and a cautious approach adopted by traders due to prevailing uncertainties. Unresolved debt-ceiling negotiations and the Federal Reserve’s uncertain rate policy contribute to the cautious sentiment. With ongoing “no deal” negotiations and the potential for the United States to default, ma...

This NFT data analytics platform harnesses the power of decentralization and active user participation to improve the NFT space. In a digital world, companies, organizations and influencers are leveraging the latest technologies and practices to get closer to their communities in a more direct way. Digital tokens and nonfungible tokens (NFTs) bring even more Features to make this happen. Blockchain-based tokens, especially NFTs, can be used to create new experiences to drive community engagement in Web3 and develop a sense of belonging. This can be a game-changer for brand managers, digital artists, influencers and any entity with an online presence. Previously, initial coin offerings (ICOs) were the first choice to build communities around blockchain projects. However, the high prevalence of scams has compromised this fundraising approach. To avoid a similar fate, the NFTs space needs to stay away from scams and price manipulation. With specialized services like bitsCrunch, NFTs ar...

On-chain data provider Santiment shows that traders’ enthusiasm for Buy the Dips has waned amid dip opportunities becoming more realistic. It noted: advertisement We are seeing the common paradox of traders buying short-term, small #crypto price dips, but scared to buy the longer-term bigger ones. Mentions of #buythedip or #boughtthedip are dormant. Historically, this kind of #FUD has been good to capitalize on. Courtesy: Santiment On the other hand, it seems that Bitcoin miners have continued to add throughout the month of May. Data from Glassnode shows that post the implosion of the FTX crypto exchange, miners have expanded their balance sheet by 8,200 Bitcoins with their total holdings now moving closer to 80K BTC. Also, during the month of May, Bitcoin miners raked in a total of 12.9 BTC in mining rewards per block. Only for the fifth time in history, the Bitcoin miner fee revenue has surpassed the subsidies. Recommended Arti...