Press Releases Daily News TheBitTimes.com

The U.S. Securities and Exchange Commission (SEC) said that Binance’s attempts to dismiss the lawsuit against it are invalid. The regulator called the company’s arguments “ absurd .” In its response, the Commission also reiterated that most crypto assets are securities under the Howey test. According to the department, “comparing tokens and, for example, oranges [as a product] is absurd .” “Binance’s Chief Compliance Officer crudely but succinctly summed up this case when he admitted that Binance was ‘operating as a fking unlicensed securities exchange in the USA bro.’ He was right.” SEC filing Binance previously stated that the regulator was violating the Fundamental Issues Doctrine. This is the principle of interpretation of regulations in administrative matters. It introduces strict limits for executive authorities in the interpretation of certain laws. You might also like: Binance and Changpeng Zhao ask court to dismiss SEC suit The conflict ...

Binance, the world’s largest cryptocurrency exchange by client count, has withdraw n its application to BaFin for a crypto license in Germany.  Binance’s decision to withdraw its application for a crypto license in Germany comes in response to the country’s strict regulatory environment, prompting the exchange to reassess its expansion strategy. Earlier, German regulators had informed Binance that they would not issue them a license. Still in pursuit of appropriate licensing On July 26, said this withdraw al is due to significant changes in the global market and regulatory environment.  Although Binance is pulling out, it remains committed to obtaining the necessary license in the country. In the coming days, the exchange will submit a revised application that accurately reflects the current developments. When the exchange exited Cyprus, they said they had plans to fully comply with the European Union’s Markets in Crypto Assets (MiCA) legislation.  ...

Once launched, Indonesia’s national crypto exchange will be the only platform allowing crypto transactions, the local regulator said. The government of Indonesia is moving forward with its plans to launch a national cryptocurrency exchange, and expects to debut the platform in the coming weeks. Indonesia’s Commodity Futures Trading Supervisory Agency (CoFTRA), also known as Bappebti, is planning to launch the national crypto exchange in July 2023, the local news agency Tempo reported on July 14. Bappebti head Didid Noordiatmoko reportedly said all cryptocurrency transactions will be only allowed to take plac using the upcoming national exchange. “Yesterday we agreed on the stock exchange rules,” the official said, adding that the discussions involved regulation of Know Your Customer (KYC) processes. Didid also noted that trading on the exchange will be offered through an integrated application, which CoFTRA has already tested. "Yesterday we conducted system integration tests bet...

In a recent video by Crypto Banter, notable crypto investor Ian Balina expressed apprehension about the future of crypto currency in the US, with the recent regulatory pressures considered a major concern. Balina, along with other key players in the industry, see this development as part of the disruptive evolution of a technology that challenges traditional power structures. They are of the view that, although there may be casualties along the way, the technology will ultimately become so revolutionary that governments will either embrace it or risk falling behind more forward-thinking nations. Regulatory attacks on crypto Regulatory bodies’ recent coordinated efforts against the crypto market have been a cause for alarm among investors and enthusiasts. This is described in the video as part of the natural progression of a disruptive technology that challenges conventional power structures. Peter McCormack, in an episode of his podcast, also voiced concern over the pote...

At a time when USDT is touching new market cap highs, the other stablecoins are struggling to keep their market dominance. Tether-issued USDT (USDT) stablecoin broke past a new all-time-high market cap of over $83 billion as it continues its stablecoin market dominance. The new ATH market cap for the USDT stablecoin comes in a year when other stablecoin issuers are struggling to remain afloat due to regulatory ire. The same was pointed out by cryptocurrency exchange Binance’s CEO Changpang Zhao aka CZ. Tether USDT market cap chart. Source: Coinmarketcap CZ in a quote tweet drew attention towards BUSD, a Binance stablecoin issued by Paxos. The Binance CEO said that “BUSD was a fully regulated stablecoin that was ‘capped’ by NYDFS at a $23 billion and currently sits at a $5 billion market cap and since then USDT has seen tremendous growth.” BUSD, a fully regulated stablecoin, was "capped" (no new minting) by NYDFS at $23b. Now at $5b market cap. Since then, USDT has seen t...

Sabin Dima, the CEO and founder of Humans.Ai, said that with the right implementation, governments could use AI to enhance public services and policies. Artificial intelligence (AI) has been a talking point for governments and thought leaders worldwide since ChatGPT emerged in late November 2022. While some question the ramifications of AI becoming a mainstay in society, others are embracing the technology head-on. Recently, the Romanian government unveiled a new AI chatbot, Ion, create d to ​​source community concerns and opinions to develop policy recommendations based on collected data. Cointelegraph spoke with Sabin Dima, the founder and CEO of Humans.ai — the company behind Ion — to better understand what government integration of AI could mean for the communities it serves. Dima started by highlighting the strength of AI, comparing it with nuclear power in the sense that it can “be either an atomic bomb or a nuclear plant, depending on the framework.” “The potential benefits of ...

The Solana Foundation has launched a real-time carbon emissions tracker to monitor the Solana blockchain. The Solana Foundation, in collaboration with Data platform Try carbon ara, announced the launch of a real-time tracking dashboard to measure carbon emissions on the Solana block chain .  1/ Today, the Solana Foundation is leading the charge in the climate fight by making Solana one of the first blockchains to have its emissions measured in real time, thanks to a new data portal created with TryCarbonara. Learn more: https://t.co/k4QsZmtjHn pic.twitter.com/gqPwpKtv3u — Solana (@solana) April 21, 2023 According to a blog post from the foundation, this represents the first “major smart-contract blockchain” to measure carbon emissions in real-time. The organization hopes this will spur a trend towards carbon emissions transparency in the blockchain ecosystem: “The Solana Foundation hopes to set a new standard for measuring emissions in blockchain by publishing this data.” The n...

If initial tests are successful, the firms will expand their activities into tokenized credit issuance and equities. Financial market firms T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland have joined an Avalanche (AVAX) subnet to test the idea of blockchain-based foreign exchange, according to an announcement from the Avalanche team. The new subnet is called “Spruce,” and is part of Avalanche’s Evergreen Subnet ecosystem. Following last week’s Avalanche Evergreen announcement, today marks the launch of the Spruce Subnet! Institutional partners including @TRowePrice, @WisdomTreeFunds, @Wellington_Mgmt & @CumberlandSays will use Spruce to test public blockchain applications. https://t.co/1KLzxcUCSB pic.twitter.com/xvaUmKO3BV — Avalanche (@Avax) April 12, 2023 According to the announcement, institutions will initially use “valueless tokens” on Spruce to ensure they can conduct foreign exchange, or forex, transactions without losing capital. Inter...

The Bitcoin logo lights up on the European Central Bank building in Frankfurt as Bitcoiners urge bankers to ‘study Bitcoin.’ “The signal goes on, and he shows up. That's the way it's been. That's the way it will be.” Whenever Gotham faces an existential threat, the Bat-Signal lights up the night sky. In the DC Comics universe, Batman always shows up to save the day when he’s called upon. Bitcoiners in Germany employed a similar tactic this week, emblazoning the preeminent crypto currency’s logo with a message to ‘study Bitcoin’ on the side of the European Central Bank building in Frankfurt. The images were shared widely across social media, with notable Bitcoin (BTC) proponents and various company profiles lauding the display. #Bitcoin looks good on the ECB building pic.twitter.com/k8odYEpAZd — Alistair Milne (@alistairmilne) March 30, 2023 A dose of the proverbial ‘Orange Pill’ is particularly pertinent given that the global banking sector has been under the spotlight ...

There is no technical reason preventing Russia from creating its own blockchain-based system, blockchain provider Fuse Network's CEO believes. The adoption of Blockchain is the right direction for Russia to solve its current settlement issues , according to an executive at Russia’s largest bank, Sberbank. Blockchain technology has matured over the past few years to offer new capabilities that potentially enable Russia to create more efficient payment systems, Sberbank’s first deputy chairman Alexander Vedyakhin said. On March 14, Vedyakhin took part in the meeting of Russia’s Federation Council on the budget and financial markets committee, highlighting the promising future of Blockchain in Russia, the local news agency Interfax reported. According to Vedyakhin, the distributed ledger technology (DLT) is a great foundation for a new payment system due to its decentralized nature and privacy-enabling features. He stated: “Because it’s a distributed ledger, there is no single point...

A number of industry pundits believe the U.S. Office of Foreign Assets Control’s threat to impose sanctions has victims thinking twice about paying up. Ransomware victims have seemingly had enough of the extortion, with ransomware revenues for attackers plummeting 40% to $456.8 million in 2022. Blockchain intelligence firm Chainalysis shared the data in a Jan. 19 report, noting that the figures don’t necessarily mean the number of attacks is down from the previous year. Instead, Chainalysis noted that companies have been forced to tighten cybersecurity measures, while ransom victims have been increasingly unwilling to pay attackers their demands. Total value extorted by ransomware attackers between 2017 and 2022. Source: Chainalysis. The findings formed part of Chainalysis’ 2023 Crypto Crime Report. Last year, revenue from Ransomware was a whopping $602 million at the time of the 2022 report, which was later tipped up to $766 million. Chainalysis added that the nature of blockchain m...

Ripple CEO Brad Garlinghouse said the firm's XRP lawsuit could come to an end within "single-digit months." Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year now that both parties have “fully filled and fully briefed” their arguments before the U.S. District Court: “We expect a decision from a judge certainly in 2023. You don’t really have control over when a judge makes their decisions. But I’m optimistic that sometime in the coming single digit months we’ll have closure there.” While Garlinghouse and investors believe the facts, law and the court will ultimately side with Ripple, the Ripple CEO also took the opportunity to ridicule the SEC’s “embarrassing” behav...