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New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine are going to restrict European crypto services for Russians. Reports about the tightening have come after earlier this year the Union banned only “high-value” crypto-asset services to Russian residents and companies. EU Expected to Target Crypto Services for Russians in New Round of Sanctions Over Ukraine The European Union is preparing to punish Russia with more sanctions over its decision to announce partial mobilization as part of its escalating military intervention in Ukraine and moves to annex occupied Ukrainian territories through what are seen as sham referendums. The package will hit trade in the first place, with European Commission President Ursula von der Leyen announcing intentions to impose a new ban on Russian imports as well as the export of technologies that could be employed by the Russian military. A price cap for Russian oil is planned, too. The new measures would...

Binance has officially launched a cryptocurrency exchange in New Zealand after successfully registering with the country’s financial regulator. “We see significant value in having a serious New Zealand presence,” said Binance CEO Changpeng Zhao (CZ). Binance Launches Crypto Trading Platform in New Zealand Global crypto exchange Binance announced Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation and Employment (MBIE). The crypto exchange also announced the official launch of Binance New Zealand (Binance NZ). Noting that the registration was actually effective on Sept. 10, the company detailed: This registration allows Binance NZ to offer a range of financial services, including spot trading, staking, NFTs and more. Binance CEO Changpeng Zhao (CZ) commented: “A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see sign...

Several U.S. lawmakers have introduced the Retirement Savings Modernization Act to provide 401(k) retirement savers access to a wide range of investments, including crypto assets. “With inflation at record highs, a stock market downturn, and a potential recession on the horizon, many Americans are rightfully concerned about their financial future,” said U.S. Senator Pat Toomey. Retirement Savings Modernization Act Introduced The U.S. Senate Committee on Banking, Housing, and Urban Affairs announced Thursday that Senators Pat Toomey (R-PA) and Tim Scott (R-SC) and Representative Peter Meijer (R-MI) have introduced a bill called the Retirement Savings Modernization Act. The bill aims “to bolster Americans’ retirement savings by allowing workers to diversify assets included in defined contribution plans, such as 401(k) plans,” the announcement details. “This legislation will amend the Employee Retirement Income Security Act of 1974 (ERISA) to clarify that private sector retirement pl...

The Delaware Department of Justice’s Investor Protection Unit has issued a cease and desist order against 23 entities and individuals involved in a popular cryptocurrency scam known as “pig butchering.” The order also freezes the accounts allegedly holding cryptocurrencies belonging to the victims. Delaware Cracks Down on Pig Butchering Crypto Scam The attorney general of the U.S. state of Delaware, Kathy Jennings, announced Wednesday that the Investor Protection Unit of the state’s Department of Justice (DOJ) has “issued a summary order to cease and desist against 23 entities and individuals involved in a cryptocurrency scam known as the ‘pig butchering scam.'” Pig butchering crypto scams have recently become alarmingly popular . Victims of this type of scam “are groomed over time to make investments using cryptocurrency, only to find that what they thought was a safe investment was a scam,” the Delaware DOJ detailed. “The moniker stems from the scammers’ practice of ‘fattenin...

Workers and executives in Latam are open to trying metaverse tools in conjunction with their traditional work, according to a study commissioned by Ciena, a software, networks, and services company. The study, which surveyed 15,000 business workers from all around the world, found that there is optimism about the implementation of these technologies. Latam Office Workers Consider Metaverse-Based Tools Useful After the Covid-19 pandemic, more and more companies have changed their working requirements, with the rise of remote work being a consequence of this. According to a recent study presented by Ciena, a networks software company, Latam office workers are especially open to including these technologies at work. The study, which surveyed 15,000 business professionals in 15 different regions including Colombia, Brazil, and Mexico, found that almost 60% would consider working from a virtual metaverse platform. In the same way, more than 50% believe that collaboration is achieved in...

According to a recent Chainalysis report, although Sub-Saharan Africa is believed to account for as little as 2% of global transaction activity, the area “contains some of the most well-developed cryptocurrency markets of any region.” Additionally, Sub-Saharan Africa’s “retail market and outsized usage of P2P platforms make it unique compared to other regions.” Sub-Saharan Africa’s ‘Outsized Usage of P2P Platforms’ According to a new report by blockchain intelligence firm Chainalysis, Sub-Saharan Africa’s total crypto transaction volumes of $100.6 billion seen between July 2021 and June 2022 are the least of any region that has been surveyed. While the on-chain volumes during this period are 16% higher than the preceding period, the report nevertheless states that Sub-Saharan Africa only accounts for 2% of the global crypto activity. Still, according to the blockchain analysis firm’s findings, Sub-Saharan Africa likely has some of the most developed cryptocurrency markets global...

The Brazilian Securities and Exchange Commission (CVM) has sent a subpoena to Mercado Bitcoin, one of the biggest exchanges in the country, to inquire about the services the company lends regarding cryptocurrency-related fixed return investments. The company will have to disclose the details of these investments and if they plan to maintain them as available to the general public. Mercado Bitcoin Subpoenaed on Fixed Income Token Investments Cryptocurrency exchanges are becoming more than just that, and in regions like Latam, where there are countries with high inflation numbers, some offer bank-like products to entice customers to enter the crypto market. Mercado Bitcoin, one of the biggest cryptocurrency exchanges in Brazil, has been subpoenaed by the Brazilian Securities and Exchange Commission (CVM) on the services that it offers customers via its platform. The subpoena inquires about the services offered via the Tokens section on the web page of Mercado Bitcoin, which, accordi...

On Thursday, at the Converge22 event in San Francisco, Circle announced the acquisition of the payment orchestration company Elements. Circle explained that the acquisition includes plans to “quickly scale payment offerings.” Circle says the new service will make it easier for merchants to integrate their existing points of contact with Circle’s crypto solutions. Circle Reveals New Permissionless Cross-Chain Transfer Protocol at Converge22 This week Circle and a number of other crypto industry heavyweights attended the Converge22 event in San Francisco. During the conference, Circle has made a number of announcements like usd coin (USDC) support being added to Robinhood Markets’ offerings. In addition to partnering with Robinhood, Circle also announced the firm’s new “cross-chain transfer protocol to support USDC interoperability for developers [and] their users.” “Cross-Chain Transfer Protocol is permissionless and enables USDC to be sent natively across ecosystems, improving l...

PRESS RELEASE. The Rugby League World Cup 2021 (RLWC2021) has announced CoinEx as its official cryptocurrency trading platform partner. Founded in 2017, CoinEx is a professional global cryptocurrency exchange. Dedicated to ‘making crypto trading easier’, CoinEx provides a highly secure, stable and efficient service for its three million global users. It’s a first for the World Cup to be in a position to follow other sports in having a cryptocurrency company as a partner, and CoinEx is honoured to have the opportunity to establish a partnership with RLWC2021. CoinEx CEO Haipo Yang said, “We genuinely admire what the RLWC2021 represents. The tournament is set to trail blaze a way to reach new audiences for the sport, and we are excited to be a part of that through our partnership. “This will be the first major sponsorship activity we have undertaken, and we look forward to working together to make it a success for both parties.” Jon Dutton, RLWC2021 ‘s Chief Executive, said: ...

India’s Enforcement Directorate (ED) says it has frozen more than 77.6 bitcoins that were transferred to Binance from Indian crypto exchange Wazirx. The freeze is part of a money laundering investigation into a mobile gaming application. Indian Authority Freezes Bitcoin Held at Crypto Exchange Binance India’s Directorate of Enforcement (ED) announced Wednesday that it has frozen 77.62710139 bitcoins under the country’s Prevention of Money Laundering Act (PMLA). The ED is the Indian government’s law enforcement and economic intelligence agency. The freeze is part of the ED’s investigation into a mobile gaming application called E-nuggets. According to the announcement, the cryptocurrency was transferred from Wazirx, a popular Indian exchange, to Binance. The ED also tweeted a summary of its action. The law enforcement agency explained that “Aamir Khan, S/o Nesar Ahmed Khan launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding [the...

Renowned billionaire hedge fund manager Stanley Druckenmiller says he could see cryptocurrency “having a big role in a Renaissance because people just aren’t going to trust the central banks.” He added that he will be “stunned” if the U.S. isn’t in a recession next year. Stanley Druckenmiller: People Just Aren’t Going to Trust Central Banks Billionaire investor Stanley Druckenmiller discussed the U.S. economy and cryptocurrency in an interview at the CNBC Delivering Alpha conference Wednesday. Druckenmiller is the chairman and CEO of Duquesne Family Office LLC. He was previously a managing director at Soros Fund Management where he had overall responsibility for funds with a peak asset value of $22 billion. According to Forbes’ list of billionaires, his personal net worth is currently $6.4 billion. Referencing the news of the Bank of England buying 65 billion pounds of U.K. bonds, he said “if things get really bad” and other central banks take similar action in the next two or thr...

Cryptocurrency mining should be allowed in areas with excess energy and prohibited in those that experience deficits, according to Russian officials preparing to legalize it. An expert from the crypto industry has recently marked the regions where Moscow is likely to authorize mining and the ones where it will probably ban the extraction of digital currencies. Expert Lists Russian Regions Most Suitable for Crypto Mining and Those Expecting Ban The Central Bank of Russia and the Ministry of Finance recently agreed on legislation designed to regulate the mining of cryptocurrency that should be adopted by the end of this year. Lawmakers working to finalize it have indicated that the industrial activity should be permitted only in parts of the vast country that can produce more electricity than they need. One of them, the Chairman of the parliamentary Financial Market Committee Anatoly Aksakov, also said that the energy-intensive process should be banned in other areas facing power sho...

PRESS RELEASE. Bitcoin.com , a digital ecosystem and secure self-custody platform where users can accessibly and safely interact with cryptocurrencies and digital assets , is launching the Verse Development Fund, an initiative to accelerate growth and innovation in Bitcoin.com ’s Verse ecosystem. In addition, the fund will empower projects that embody Bitcoin.com ’s ethos of economic freedom and democratized finance. “Since 2015, Bitcoin.com has been a leader in introducing newcomers to crypto and guiding them along their digital asset investing journeys,” said Bitcoin.com CEO Dennis Jarvis. “So far, we’ve built an incredible portfolio of products and services used by over 4 million individuals monthly. The Verse Development Fund will be the instrument by which we leverage this diverse and passionate community’s energy into building an even stronger ecosystem with even more popular appeal.” The fund, which will start accepting grant applications from developers and other ecos...

After Robinhood Markets launched the company’s beta Web3 wallet on Tuesday and listed the stablecoin usd coin on the exchange platform Robinhood Crypto last week, the company announced a strategic partnership with Circle Financial. The deal revealed on Wednesday will provide Robinhood Crypto and Robinhood Wallet users with the ability to purchase and sell usd coin, and access “exclusive in-app educational modules to earn USDC rewards.” Robinhood and Circle Partner to Offer USDC Accessibility On Wednesday, Robinhood Markets (Nasdaq: HOOD ) published an “Under the Hood” blog post that explains the California-based financial services company has joined forces with Circle . Robinhood details that the stablecoin usd coin (USDC) is the “first stablecoin available to buy and sell on Robinhood Crypto and on the new Robinhood Wallet (currently in beta).” “USDC will play a crucial role in helping our customers get their dollars into Web3 through a trusted and transparent source,” Johann K...

On Wednesday, the decentralized oracle network platform, Chainlink, announced the launch of a market-wide interest rate product for Web3 protocols and the decentralized finance (defi) economy, called the CF Bitcoin Interest Rate Curve (CF BIRC). Chainlink revealed the new product at Smartcon 2022 in New York City, and the newly launched CF BIRC product aims to provide “a reliable and transparent base rate” for Web3 market participants. Chainlink and CF Benchmarks Launch Manipulation-Resistant Base Rate CF BIRC Chainlink has made a number of announcements during the Smartcon 2022 event in New York City. For instance, on Wednesday the smart contract and oracle network project revealed a program called the Sustainable Chainlink Access for Layer 1 & 2 Enablement otherwise known as SCALE. “SCALE is a holistic and win-win economic model for both blockchains and the Chainlink Network,” Chainlink tweeted on September 28. “As [layer one and layer two] userbases expand, fees from [de...

Humans have sought to preserve memories since prehistoric times, etching images into cave walls and tying knots into a crudely fashioned cord. Tribes and clans gave birth to language that could preserve the past in words, and words found their way into print forms, thereby conceiving history. In the information age, the Internet has become the carrier of historical records, which achieved an almost geological level of permanence through the power of immutable “blocks” recorded on blockchains. Blockchain was a timely development–a solution, in fact, to certain curses of history. What are the curses of history? Centralized historical records: From ancient times to the present, the power to record history has been in the hands of centralized entities. Unofficial history and folk records may be available but are obscured by media nobility. Yet, despite the “information age,” this situation remains unbroken and arguably worse, as powerful centralized media accumulate more power than e...

The governor of France’s central bank, François Villeroy de Galhau, has urged EU regulators to “avoid adopting diverging or contradictory regulations, or regulating too late.” He warned that “To do so would be to create an uneven playing field, risking arbitrage and cherry picking.” French Central Bank Governor Warns About Adopting ‘Unduly Complex’ Crypto Regulations Banque de France Governor François Villeroy de Galhau talked about cryptocurrency regulation at a conference on digital finance in Paris Tuesday. The French central banker stressed: We should be extremely mindful to avoid adopting diverging or contradictory regulations, or regulating too late. To do so would be to create an uneven playing field, risking arbitrage and cherry picking. Villeroy de Galhau added that “unduly complex” crypto regulations could fall short of investor protection and money laundering prevention. The European Commission introduced the Markets in Crypto Assets Regulation (MiCA) bill in Septemb...

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve Chairman Jerome Powell provided an update of the central bank’s digital dollar work Tuesday during a panel discussion on digital finance hosted by Banque of France. “Cash is not disappearing here in the United States. We still use cash quite a lot,” he began. However, the central banker noted: “It is declining, not in absolute terms but compared to non-cash payments, it’s declining.” Powell explained that the Federal Reserve is looking very closely at “the potential costs and benefits” of issuing a central bank digital currency (CBDC) in the U.S. He detailed: We are looking at it very carefully. We are evaluating both the policy issues and the technolog...

PRESS RELEASE. InVar Finance has recently built InVaria2222 , the RWA tokenization world, which is currently in its first stage. InVar intends to create hybrid financial services by bridging the crypto sector with the real economy, such as TradFi with DeFi and RWA tokenization, which pertains to real-world assets. It all began in the RWA tokenization world when InVaria2222 leveraged traditional real estate investment to provide transparency, accessibility with low frictions, and higher composability. What’s there to know? The team cultivates strong relationships with regulators, real estate developers, and critical strategic financial institutions to foster the new paradigm of RWA investment innovation and broader crypto adoption. Regarding the potential of RWA tokenization, the real estate industry alone can generate significant funds flown into the crypto space. Moreover, with a global real estate market worth over a whopping $300 trillion, tokenizing just 1% of the market woul...