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South Korea’s National Assembly has officially approved new legislation to safeguard users of virtual assets and amend the country’s capital market law. It prohibits unjust trading practices and provides user protection.  The “Capital Market and Financial Investment Business Act” has also been revised to impose penalties of up to double the profits from unfair trading, such as stock price manipulation. South Korea approved its first standalone digital-asset bill to boost investor protection just over a year after the implosion of tokens created by countryman Do Kwon exacerbated a $2 trillion crypto -market rout https://t.co/VWUMz5eaW6 — Bloomberg Crypto (@crypto) June 30, 2023 This is the first time specific measures have been introduced to address crypto currencies following the enactment of the Specific Financial Transaction Information Act. The Virtual Asset User Protection Act aims to establish a framework for imposing fines and liability for un...

With a market cap of $5.71 billion, Bitcoin Cash ( BCH ) is now the 14th largest cryptocurrency. Over the last 10 days since June 20, the BCH price has gained by a staggering 200%. advertisement As per data on Coinglass, the open interest for BCH contracts surged to $562 million, reaching its highest level since May 12, 2021. Trading volume for BCH contracts has seen a remarkable increase of over 10 times since June 22, with a 24-hour trading volume reaching as high as 4.427 billion. Moreover, BCH has witnessed an impressive price rise of nearly 100% in the past week. The major reason behind the Bitcoin Cash ( BCH ) price rally has been the launch of the EDX Markets crypto exchange on June 20. EDX Markets is backed by some of the biggest institutional players in the market such as Fidelity and Citadel. Thus, with them listing BCH , along with three other cryptocurrencies, analysts are confident that BCH would rather stay as a commodity and not a secur...

Former SEC Chairman Jay Clayton recently highlighted the misconduct by the securities regulator.  Clayton believes that federal agencies should only initiate cases that will win based on merit.  Crypto lawyer John Deaton pointed out that the judge overseeing SEC v Ripple expressed similar concerns. Jay Clayton, former Chairman of the U.S. Securities and Exchange Commission (SEC), recently accused the securities regulator of engaging in questionable conduct that according to him goes against the ethos of federal agencies. Clayton’s comments came during an interview with CNBC’S Squawk Box.  A must watch. Former SEC Chairman Jay Clayton describes the new and deeply un-American ethos of the @SECGov under @GaryGensler — if we're not losing cases, we aren't suing enough businesses. This is a total abuse of power. pic.twitter.com/G0HxL4s8Y1 — Cameron Winklevoss (@cameron) June 28, 2023 Gemini co-founder Cameron Winklevoss took to Twitte...

On June 28, the European Commission unveiled its proposed legislative plan for a digital euro, with the intention of establishing it as a widely embraced and readily available payment method. The announcement emphasized the importance of enabling individuals to acquire digital euros through their banks upon request, ensuring convenient access and safeguarding against the risk of exclusion for citizens. Share customer data The European Commission published its legislative plans to underpin a digital, saying it would ensure Europeans can pay digitally for free across the currency zone. As part of a distinct proposal , the commission has put forward a suggestion wherein banks, insurers, and funds would be required to share customer data with fintech firms in exchange for compensation in a bid to foster the advancement of digital finance.  You might also like: FTX engages in talks to bring back international crypto exchange The proposal further encompasses key provisions su...

Sui was accused of dumping locked and non-circulating staked SUI tokens on Binance. Sui Foundation — the team behind the Sui network and its native SUI token — has denied allegations that the firm un locked SUI staking rewards and “dumped” them on cryptocurrency exchange Binance . The Foundation knocked back the claim in a five-part Twitter thread on June 27, stating that none of the locked or non-circulating tokens, including SUI staking rewards had been sold: "Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise." "All insider token allocations remain subject to and compliant with their lock ups and other restrictions on transfer,” the foundation added. The purpose of this communication is to share information regarding the tokenomics of the Sui Network including the SUI token supply and certain distributions of SUI tokens. Here’s what you need to know: — Sui Foundation (@SuiFoundation...

Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services. Cryptocurrency exchange Bybit already operates out of Dubai, but its current licensing doesn’t allow the firm to serve all customers, according to its CEO. On June 27, Bybit FinTech FZE, a subsidiary of the global exchange Bybit, announced it received the Minimum Viable Product (MVP) preparatory license from Dubai’s Virtual Assets Regulatory Authority (VARA). Speaking to Cointelegraph, Bybit CEO Ben Zhou said the exchange is working hard to acquire a full market product license in Dubai, which will allow the exchange to operate for a full spectrum of customers in the United Arab Emirates. “Bybit already operates out of Dubai; the MVP license only allows Bybit to service a very restricted set of accredited investors,” Zhou said. “I feel positive about our progress as VARA demonstrates an interest and passion for innovation and entrepreneurship,” he...

Join Our Telegram channel to stay up to date on breaking news coverage Delta Ex change , a cryptocurrency derivatives ex change , has announced a fresh funding round that will fund its expansion to India.  The ex change made the announcement  that it had gotten backing from blockchain venture capitalist firm CoinFund. The investment marks the first in a series of CoinFund’s moves geared towards capitalizing on India’s fledgling market. A Perfect Market to Launch Alex Felix, the managing partner at CoinFund, also spoke with industry news source Cointelegraph on the company’s decision. He explained that the firm had seen a significant opportunity to move into India, thanks in no small part to the recent lifting of the Reserve Bank’s crypto ban. He added that thanks to increasing local interest and Bitcoin’s growth, India has become a significant market for the crypto industry. CoinFund is hoping to capitalize on that, and the Delta Exchange investment is a part of the firm’s pl...

Jun 26, 2023 at 12:00 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, Ethereum price (ETH) is trading above the moving average lines but below the $1,900 resistance level. Long-term analysis of the Ethereum price: bullish It is difficult for buyers to advance to the recent high since the June 21 bounce. Price action has stalled near the $1,900 high. At the time of writing, Ether is trading at $1,879.80. The largest altcoin is trading in a narrow range between $1,800 and $1,920. The price movement has been limited to a smal...

Join Our Telegram channel to stay up to date on breaking news coverage Despite escalating regulatory scrutiny in the U.S., major financial players are stepping up their engagement with cryptocurrencies, thus injecting a fresh wave of competition and energy into a burgeoning industry. Companies such as BlackRock (BLK), the world’s premier money manager, have plans underway to launch an exchange-traded fund with bitcoin as its underlying asset. Alongside this, Charles Schwab (SCHW) and Fidelity Investments, both substantial money management firms, are backing a novel cryptocurrency exchange with the support of Citadel Securities. Furthermore, Deutsche Bank, a global lending giant, has expressed interest in operating a crypto custody enterprise that would maintain digital assets on behalf of its clientele. The active participation of these Wall Street veterans in the crypto market has had a positive impact on the value of cryptocurrencies, notably Bitcoin (BTC). Bitcoin, the ...

SEC Chair Gary Gensler defended his agency’s recent enforcement actions against Binance and Coinbase and issued a stark warning to any other businesses operating in the space: Comply, or you can expect a lawsuit, too.  Gensler did not mince his words during a virtual appearance at the 2023 Global Exchange and Fintech Conference Thursday, demanding that crypto firms follow existing laws. There is no need for further congressional action, as many in the space have called for, he said.  “It’s the law of the land,” he said, defending the SEC’s ability to oversee crypto markets.  Crypto companies have no excuse to not be operating within the rules, Gensler added, dismissing any claims that companies are unable to comply under existing laws.  “We’ve issued a reopening release that reiterated the applicability of existing rules to platforms that trade crypto assets securities, including so-called DeFi systems, that’s already the law. That’s already the rules,” Gensler said. “Not liking ...

DeFi margin trading platform Ooki DAO lost its suit with the CFTC earlier this month after opting to not fight back. The default judgment has limited power to establish precedent, but other DAOs and their members should still take note, legal experts say.  The CFTC won its case against Ooki DAO in a June 8 default judgment. The court moved ahead with a default judgment because Ooki DAO refused to offer any defense or plea.  “Appearing before the court to defend Ooki DAO would establish someone as a member of the DAO, which might imbue that person with personal liability for the DAO’s activities,” Jason Civalleri product counsel at Grayscale, said. “Apparently the DAO’s members did not want to take on this risk.”  The CFTC filed its suit against Ooki DAO in federal court in California last September, alleging the DAO was operating an illegal trading platform by offering “leveraged and margined” commodities.  As part of the default judgment, Ooki DAO has been ordered to cease all op...

Join Our Telegram channel to stay up to date on breaking news coverage Known for its influential presence in crypto-centric fashion, Gmoney, through his luxury brand 9dcc launched in August 2022, has skillfully integrated high-end physical fashion with Web3, setting a new standard for the industry. During Paris Men’s Fashion Week, Gmoney announced an exclusive limited-edition collaboration with streetwear trailblazer Jeff Staple, who also holds a stake in the digital world with Stapleverse. The 250 unique 9dcc x Stapleverse baseball caps, each corresponding to an NFT, sport the Stapleverse signature pigeon emblem delicately embroidered on the front and side metal logos of both brands. The caps, despite their minimalist design, incorporate a humorous detail on the brim resembling pigeon droppings. According to Staple, these are no ordinary hats; they encapsulate a wealth of technology inside. Using 9dcc’s Networked Product technology, an integrated NFC chip provides...

Instability Surrounding TrueUSD TUSD today reasoned for the sudden spike in numbers stating that TrueUSD (TUSD) utilizes multiple USD rails to facilitate the minting and redemption processes of its stablecoin. advertisement TrueUSD ( TUSD ) maintains multiple USD rails for both minting and redemption. This means that alternative TUSD minting and redemption processes are live and available on these USD rails. However, failing to gain trust, it faced critical backlashes. Still offering that $1k bounty for anyone who can intro me to a desk who can do this right now at scale. So far despite their claims, no one seems to be able to. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must R...

In the ever-evolving world of cryptocurrencies, Luna (LUNA) has emerged as one of the most promising digital assets. With its innovative blockchain protocol and robust ecosystem, Luna has gained significant attention from investors and technology enthusiasts. In this article, we will delve into the price prediction for Luna in June 2023, considering both short-term and long-term factors that may impact its value. We will analyze historical data, expert forecasts, and market trends to provide you with a comprehensive understanding of Luna’s potential. Source: zipmex.com Terra Luna Overview Before diving into Luna’s price prediction, let’s take a moment to understand the Terra ecosystem and its significance in the crypto market. Terra is an open-source blockchain protocol developed by Terraform Labs in 2018. It aims to combine the best Features of fiat currencies and Bitcoin to create a stablecoin that can be used for everyday transactions. Terra’s blockchain utilizes a proof-of-stake c...