The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses. Along with illegal forex dealers and financial pyramids, the regulator has also listed crypto exchangers as suspicious entities. New AML Recommendations by Bank of Russia Target Cryptocurrency Exchangers Russia’s central bank has …
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ZPAE Solves World Retail Challenges Using FinTech at Sharjah Research Technology and Innovation Park
press release PRESS RELEASE. Sharjah, September 2021 – The Sharjah Research Technology and Innovation Park (SRTIP) issued its third Distributed Ledger Technologies license (DLT) to ZelaaPayAE. Focusing on numerous areas related to the exchange of value, ZelaaPayAE works strongly to advance tokenisation and through its multiple arms and divisions promotes non-fungible tokens (NFTs), payments infrastructures …
New York Fed’s Consumer Inflation Report Expects US Inflation to Hit 5.2% by Next Year
Americans are still very concerned about inflation as the latest Survey of Consumer Expectations (SCE) report from August indicates that U.S. consumers expect inflation to be 5.2% a year from now. The SCE response data hasn’t been this high since 2013, and it’s increased since the month prior, when U.S. residents expected 4.9% at the …
Gary Gensler urges crypto exchanges to register with SEC. Says investors ‘will be protected’
In a new press statement, the United States Securities and Exchange Commission boss Gary Gensler has begged crypto exchanges operating under his radar and within the country’s shores to ensure the safety of the investments of their investors by registering with the SEC. Gensler calls on exchanges to register Gensler made the plea as part …
42 altcoins face crisis as Korea set to close 75% of all its crypto exchanges
Extensive investor losses are expected as roughly two thirds of South Korean crypto exchanges struggle to meet toughened registration rules. On September 6, the Korea Financial Intelligence Unit and the Financial Supervisory Service held a virtual meeting with virtual asset service providers (VASPs) about their business registration requirements. Mass shut down Approaching the September 24 …
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Nigeria’s CBDC ‘a Safer Option’ Than Privately Issued Cryptocurrencies: Central Bank Official
As part of the Central Bank of Nigeria (CBN)’s digital currency charm offensive, Folashodun Shonubi, the institution’s deputy governor, has claimed that the country’s upcoming central bank digital currency (CBDC) will be a “safer option from privately issued cryptocurrency.” Payment System Stability In addition, the CBN’s digital currency — also known as the e-naira — …
Hedge Fund Brevan Howard Expands Crypto Business — Expert Hired to Lead New Digital Asset Unit
Brevan Howard, a European hedge fund management company, has said it will be expanding its crypto business. BH Digital, which is the hedge fund’s recently created unit, is expected to “manage its cryptocurrency and digital assets.” Growing Interest in Crypto From Hedge Funds In addition to creating BH Digital, Brevan Howard, according to a Reuters …
FSC Regulatory Overhaul Expected to Shut Down 40 Crypto Exchanges in South Korea
A new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are being proposed by the Financial Services Commission (FSC). This action might also affect holders of locally used “kimchi” coins, that won’t be able to trade …
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El Salvador reportedly grants tax exemptions for Bitcoin (BTC) investors
In a move aimed towards attracting investors, authorities in El Salvador are reportedly set to exempt them from all forms of capital gains and income tax related to Bitcoin. Indications regarding this move began to gain wave following an announcement by one of the country’s Presidential Legal Counsel. Tax exemptions for Bitcoin investments According to …
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Cardano (ADA) welcomes much-awaited smart contracts with launch of Alonzo
Cardano (ADA) welcomes much-awaited smart contracts with launch of Alonzo | CryptoSlate Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Start Earning Interest Cardano › DeFi The latest upgrade has finally brough smart contract functionality to the ambitious network. Andjela Radmilac · September 14, 2021 at 2:00 am UTC …
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FUFU Raises $1.7m From Major Investors to Develop the Next Generation Content Marketing Platform
sponsored UwUFUFU.com, a content marketing platform, has successfully raised $1.7 million USD from early investors. Adopting the play-to-earn mechanism in the form of viral quizzes, anyone can create, play, share quizzes and earn NFTs through FUFU’s reward system. NFTs on FUFU function as a collectible and a potential membership to gain access for future events, …
Shark Tank Star Kevin O’Leary Expects a ‘Trillion Dollars’ Flowing Into Bitcoin
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, expects a “trillion dollars” more to flow into bitcoin in the next couple of years. He also sees cryptocurrencies becoming an institutional asset class. “We don’t know when but it is definitely going to come. It’s not going away,” he said. Kevin O’Leary Sees Trillion-Dollar Opportunity in …
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Singapore’s Largest Bank DBS Sees Rapid Growth in Crypto Business, Robust Demand From Investors
DBS Group Holdings, the largest bank in Singapore and Southeast Asia, says its crypto business is “growing very rapidly.” The bank’s digital asset trading platform expects to double the number of members by year-end. Singapore’s DBS Expects Substantial Growth in Crypto Business DBS’s senior executives said in an interview, published by Reuters Monday, that the …
Avalanche (AVAX) chain’s Zabu Finance sees a $3.2 million exploit
Zabu Finance, a decentralized finance (DeFi) protocol on Avalanche (AVAX) has recently been exploited for roughly $3.2 million worth of crypto tokens. The exploited protocol confirmed the attack on Twitter, clarifying that the funds were stolen from its SPORE pool. What happened? “Zabu Team Wallet has not sold a single Zabu. We’re under an exploit, …
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NBA legend Shaq is wary of crypto. Says it’s “too good to be true”
Former pro basketball player, now NBA analyst Shaquille O’Neal told CNBC that he’s wary of crypto. While he’s not averse to overnight success, as is the case for some investors, he said the entire premise of cryptocurrency seems too good to be true. “Every time somebody tells me one of those great stories, I like …
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