Get the daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the tales flying individually distinct of today’s crypto news.
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Regulation news
- The Financial Authority of Singapore (MAS), the central bank and financial regulator of Singapore, “continues to be carefully thinking about the development of additional consumer protection safeguards” that may include “placing limits on retail participation, and rules on using leverage when transacting in cryptocurrencies,” Tharman Shanmugaratnam, Senior Minister and Minister responsible for MAS, stated inside a answer a parliamentary question. Also, he stressed that “there’s an excuse for regulatory coordination and cooperation globally.” “These problems are now being discussed at various worldwide standard-setting physiques where MAS positively participates,” he added.
- Chinese giants Tencent Holdings, Baidu, JD.com, and Ant Group, amongst others, decided to enforce a “self-discipline initiative” that promises identity checks for users, adherence towards the country’s ban on cryptoassets, along with a promise to not establish secondary marketplaces to battle speculation, per the South China Morning Publish. The agreement, which isn’t legally binding, is definitely an acknowledgment in the industry of rules that already appear in China for blockchain-based assets, it added.
Exchanges news
- KuCoin Chief executive officer Johnny Lyu denied the rumors claiming the exchange has “any contact with LUNA, 3AC, Babel, etc.” – talking about numerous troubled entities. Lyu added that there’s “no “immense suffer” from the “coin collapse,” no intend to halt withdrawal,” which “everything on KuCoin is working well.” Per the information he shared, KuCoin finished a USD 150m fundraiser in a USD 10bn valuation in May, which is still hiring and being active regardless of the bear market.
- Coinbase stated they have been driving a concerted effort to bolster their presence in Europe: they met with policymakers within the United kingdom, established a regional Center of Excellence in Ireland, and strengthened operations in DACH (Germany, Austria, and Europe) using their first hire in Europe, and therefore are expanding their footprint across additional European markets.
Scams news
- A hacker compromised the Twitter and YouTube profiles from the British Army on Sunday “to push people toward cryptocurrency scams,” per CNBC. The Twitter account’s name was altered to “pssssd,” and it is profile and banner pictures were altered to resemble an NFT collection known as The Possessed. Earlier Sunday, the account was renamed Bapesclan — the another NFT collection. The YouTube account name, meanwhile, was altered to Ark Invest, pretending is the investment firm of bitcoin (BTC) bull Cathie Wood. Both accounts have since been came back for their owner.
Wallets news
- Meta, Facebook‘s parent company, will shut lower Novi, their digital wallet payments pilot, on September 1. Users have to withdraw any remaining balance within their Novi accounts before this, by selecting to transfer it for their accounts or withdraw it as being cash where relevant, stated the organization.
Investments news
- DeFi platform WonderFi Technologies has acquired the Canadian Coinberry crypto exchange. 25% (2 of 8) of controlled crypto-buying and selling platforms in Canada are actually underneath the WonderFi umbrella with increased planned acquisitions in the future in Canada and perhaps worldwide, per the emailed announcement. Founded in 2017, Coinberry services over 225,000 Canadian clients, they stated.
- Digital asset investment firm CoinShares announced it has acquired digital asset manager Napoleon Asset Management, licensed underneath the AIFM Directive since March 2019, following receipt of approval in the Autorité plusieurs Marchés Financiers (AMF). The transaction was signed and completed on June 30. The purchase enables CoinShares to provide AIFM-compliant services and products, additionally to the position being an issuer of crypto Exchange Traded Products (ETPs).
Mining news
- An American-owned sources company Black Mountain Energy revealed its intend to use “flared-off” gas from fracking wells to mine cryptocurrency inside a process it states will curb emissions, according to ABC News. The organization is investigating choices to unveil the work at its Valhalla Project fracking site within the Kimberley’s Canning Basin along with Wyoming-based start-up, Highwire Energy.
