Crypto Cynic Becomes Singapore’s New President
Singapore elects Tharman Shanmugaratnam as its new president, previously known for skepticism toward cryptocurrencies, now emphasizing “ultra clarity” and a balanced regulatory approach. Key Points Singapore recently elected Tharman Shanmugaratnam as its 9th president, succeeding Halimah Yacob. While Shanmugaratnam had previously referred to cryptocurrencies as “inherently purely speculative and slightly crazy,” the role of the President in Singapore is mostly …
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PBOC Official Stresses Importance of Digital Yuan
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Cary
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September 4, 2023
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Cryptonews, Crypto, News
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China’s Digital Currency Research Institute head highlights the need for digital yuan in all retail payments, and proposes unified QR code standards. Key Points The head of the Digital Currency Research Institute at the People’s Bank of China (PBOC), Changchun Mu, emphasized the necessity of making the digital yuan available for all retail payment scenarios at a trade forum in …
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South Korea Crack Down on Crypto Drug Trafficking
South Korean police arrest 312 individuals involved in a cryptocurrency-facilitated drug trafficking network operating on dark web platforms. Key Points South Korean police have intensified their efforts to combat drug trafficking facilitated by cryptocurrencies, resulting in the arrest of 312 individuals involved in a major narcotics bust. The arrests were made by the Seoul Metropolitan Police Agency’s Drug Crime Investigation, …
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Bittrex Agrees to Pay $24 Million Fine to SEC
Bittrex faces a $24 million fine for alleged unregistered securities exchange operation amid the SEC’s intensified crackdown on the crypto industry. Key Points The United States Securities and Exchange Commission (SEC) continues its enforcement action to bring the crypto industry into regulatory compliance. The latest target of the SEC is bankrupt crypto exchange Bittrex, which has agreed to pay a …
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Russian Banks Demand Answers on Digital Ruble
Russian banks seek clarity from the Central Bank on the digital ruble, raising questions about its implementation and impact. Key Points Russia’s Association of Russian Banks (ARB) has sent a letter to the Central Bank of Russia, requesting clarification on the country’s plans for a Central Bank Digital Currency (CBDC) known as the digital ruble. The ARB expressed concern over …
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Suspected Bot-Driven Price Surge on FTX for Alameda Coins
Tokens tied to Alameda Research experience price surges after being listed on FTX, fueled by alleged inauthentic Twitter activity. Key Points Several digital tokens that were associated with Sam Bankman-Fried’s trading firm, Alameda Research, experienced a significant price increase after being listed on the now-bankrupt cryptocurrency exchange FTX. This information comes from a report released by the Network Contagion Research …
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Airdrop Announced by Environmentally-Friendly Cryptocurrency
Chimpzee, an eco-crypto initiative, combines blockchain and environmentalism, attracting eco-conscious investors and contributing to conservation efforts Key Points Climate change is no longer a distant, future threat; it is here, altering our world with rising sea levels, catastrophic wildfires, and record-breaking heatwaves. The urgency of this crisis calls for more than just acknowledgment—it demands robust climate activism. This pressing need …
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HAIRY Coin Joins BALD Coin in Coinbase’s Layer 2 Blockchain
The meme coin BALD on Coinbase Layer 2 Blockchain experiences a massive price surge, and its new partner, HAIRY coin, shows significant growth potential. Key Points The BALD coin price has skyrocketed, making it the first meme coin on the Coinbase Layer 2 Blockchain to go viral. And now, it has found a partner in the form of HAIRY coin. …
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Wall Street Grapples with Crypto Custody
Nasdaq’s shelving of crypto custody plans leads US firms to reconsider crypto push, while Societe Generale receives a crypto custody license. Key Points A decision by the Nasdaq stock exchange to shelf its plans to launch a crypto custody service has led other US firms to also reconsider their planned push into crypto. Following the Nasdaq news, major investment bank …
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Twitter Owner Elon Musk Reveals Rebranding Plans for Social Media Platform
Elon Musk plans to rebrand Twitter as a new super-app called “X” with a global marketplace and potential cryptocurrency integration. Key Points Twitter owner Elon Musk has announced plans to rebrand the social media platform as a new super-app called “X.” The rebranding aims to create a global marketplace for ideas, goods, services, and opportunities, with a focus on unlimited …
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