Polygons Discord channel hacked, team works to regain control

As the value and popularity of digital assets continue to rise, cybercriminals are incentivized to exploit any vulnerabilities they can find.

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French regulator accepting CASP applications ahead of MiCA rollout

The AMF is giving firms registered under its current DASP rules ample time to transition, too.

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Coinbase finds flawed analysis in SEC's proposed exchange definition

In its third letter to the SEC, the crypto exchange said it would withdraw the proposal, which was first released in 2022, and start over again.

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SEC and Ideanomics settle crypto revenue reporting fraud charges

According to the report, all parties involved have agreed to settle the charges without admitting or denying the SECs findings

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Nigerias SEC advised to regulate Bitcoin, Ether as commodities

By treating Bitcoin and Ether as commodities, Nigerian regulators can establish a more tailored regulatory framework that reflects the unique characteristics of these digital assets.

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Nigerias SEC urged to regulate Bitcoin, Ether as commodities

By treating Bitcoin and Ether as commodities, Nigerian regulators can establish a more tailored regulatory framework that reflects the unique characteristics of the digital assets.

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Crypto enthusiasts warn against naira trade ban on exchanges

Due to the rapid decline of the naira and the resulting almost three-decade-high inflation rate of 29.9%, the Nigerian government has turned its focus to platforms providing cryptocurrency services.

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SFC Sounds Alarm on 3 Unlicensed VATPs in Hong Kong

The Securities and Futures Commission (SFC) issued a warningtoday (Friday) about several entities suspected of engaging in fraudulent virtualasset-related activities. These entities are also purportedly operating virtualasset trading platforms (VATPs) in Hong Kong without the required licenses.

SFC Flags Fraudulent Platforms

Under the Anti-Money Laundering and Counter-TerroristFinancing Ordinance, any provision or active marketing of virtual assetservices to Hong Kong investors without a licence is strictly prohibited. Theentities identified in this regard are:

Tokencan: This platform claims to provide cryptocurrencytrading services in Hong Kong without a licence. Tokencan uses social media todirect investors to its websites for cryptocurrency investments. The SFC notedthat Tokencan provided false information, falsely claimed to have filed alicence application with the SFC, and has had investor reports of frozenaccounts and withdrawal issues.

VBIT Exchange: This entity is suspected of marketing itspurported VATP services to Hong Kong investors without a licence. It falselyclaimed to be regulated by authorities in various jurisdictions on its website.

HKD.com Corporation: This entity uses a name and logo verysimilar to another VATP it is not associated with. Investors were asked todeposit funds into designated bank accounts for investment purposes.Subsequently, investors reported difficulties in withdrawing funds.

Verify VATP Licensing Status

In response to the SFC's request, the Hong Kong Police havetaken steps to block access to the relevant websites and social media pages.However, the public should remain cautious as scammers may continue to createwebsites with similar domain names.

Online investment scams can involve any type of asset andare often conducted through various channels, leading to significant losses forinvestors. The SFC advises the public to stay vigilant and be aware ofpotential fraud when making investment decisions.

Investors may risk losing their entire investment held onthe platform if it ceases operation, collapses, is hacked or otherwise suffersfrom any misappropriation of assets. If in doubt about the licensing status ofa VATP, please refer to the SFCs List of licensed virtual asset tradingplatforms, the authority stated.

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Paradigm calls on European markets regulator to show nuance regarding MEV

The venture capitalist firm said ESMAs approach to crypto market abuse could be a disaster for the industry without suggesting any better ideas.

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MiCA laws come into effect in Europe Heres what you need to know

The EUs Markets in Crypto-Assets Regulation introduces new rules for the cryptocurrency industry, which will affect stablecoins and crypto asset service providers.

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Is Avalanche (AVAX) Nearing Collapse? Analyst Predict Further 60% Correction Heres Why

In recent trading sessions, Avalanche (AVAX) has seen a significant drop in its market value, with its price tumbling to a six-month low. Over the past month, AVAX has plummeted by 25%, with a 14.7% drop in just the past week and a further 0.3% decrease in the last 24 hours, bringing its current trading [...]

The post Is Avalanche (AVAX) Nearing Collapse? Analyst Predict Further 60% Correction Heres Why appeared first on Crypto Breaking News.

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FCA busts suspects in $1.2B illegal crypto asset business

FCA arrests two suspects involved in a $1.2 billion illegal crypto asset exchange, highlighting the agencys efforts to combat financial crime.

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Cryptocurrency Industry to Self-Regulate, by IAMAI Board

The IAMAI's Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage....

BuyUcoin Blog | By BuyUcoin

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Crypto chief bids SEC farewell after 9 years of service

David Hirsch has worked as an enforcement attorney for the SEC since 2015 and started his post as the chief of the crypto asset division in 2022.

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MetaMask enables pooled staking for Ethereum holders

MetaMask said that 99% of ETH holders do not have the required 32 ETH to participate in Ethereum staking.

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Why XRP Could Hit $7.5 Sooner Than You Think: Expert Insights Unveiled

The digital currency XRP, one of the major altcoins in the crypto market, is currently showing signs that may excite investors and traders. Recent analyses indicate the potential for significant price movement. According to Egrag Crypto, a prominent cryptocurrency analyst, the altcoin’s price could ascend to ambitious new heights in the coming months based on technical patterns and market trends. Related Reading: Crypto Analyst Predicts XRP At $0.75 In July Despite Year-Long Slump Technical Indicators Pointing Upwards XRP has so far emerged as a focal point for potential bullish activity. Notably, the asset has recently broken out of a week-long downtrend, recording a 1.6% uptick in the last 24 hours, with its price now hovering around $0.5032. This shift comes as the market is closely watching several key indicators that could predict further gains. According to the technical analysis done by Egrag, there is currently a preliminary target for XRP at $7.5, known as the Atlas Line target. Egrag Crypto also expresses a strong confidence that XRP will break through the White Triangle patterna technical configuration seen as a critical indicator of future price movementin the chart he shared (below). Breaking this pattern could set the stage for reaching and surpassing a “measured move at $1.5” levels, according to the analyst. Further technical analysis identifies the Fibonacci 1.618 zone, stretching from $6.5 to $7.5, as a critical region for potential profit-taking should the token’s price ascend to these levels. Achieving a weekly close above this range could set XRP toward mid-double-digit prices, approaching the Fib levels of 2.414 and 2.618. Such movements would underscore a strong bullish trend, provided the current market momentum continues. #XRP ATLAS LINE – $7.5 is Target Number 1 (UPDATE): A) With high conviction, I can say that #XRP will break the White Triangle and hit the measured move at $1.5. B) Moreover, the Fib 1.618 zone ($6.5-$7.5) is critical, and taking profits will happen here. C) pic.twitter.com/MyKqoczSa3 EGRAG CRYPTO (@egragcrypto) June 10, 2024 XRP Market Sentiment And Analyst Perspectives Adding to the optimism, another analyst known as “Jack The Rippler” recently pointed out a bullish triangle pattern forming on the daily chart for the token. If this pattern successfully breaks above the $0.600 level, it could trigger an exceptionally bullish trend. However, despite these optimistic technical forecasts, the reality of reaching such high figures remains speculative, with significant resistance levels that must be overcome in the short term. Related Reading: XRP Price Faces Hurdles: Will It Overcome the Obstacles? Meanwhile, Egrag Crypto highlights the potential for rotational profits from other altcoins to bolster XRP’s market position. The analyst concluded his analysis: “The rotational profits will pour 100% into XRP because it is the BLACKHORSE which all my bets are on.” Featured image created with DALL-E, Chart from TradingView

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EU seeks stakeholder opinions on adding crypto to 12T euro investment market

If approved, the EUs UCITS funds would make way for crypto assets to gain exposure to a 12 trillion euro investment product market.

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Ethereum Burn Rate Hits Yearly Low: What This Means For ETHs Future

In recent weeks, Ethereum has displayed subtle signs of recovery amidst a generally bearish crypto market, with the altcoin mimicking Bitcoins modest uptrend. Despite Ethereums price increasing slightly by 0.2% over the last 24 hours, a parallel trend that might significantly affect Ethereums economic model has been unfolding beneath the surface. Decline In Network Activity [...]

The post Ethereum Burn Rate Hits Yearly Low: What This Means For ETHs Future appeared first on Crypto Breaking News.

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Losses due to crypto hacks fall 67%, Bitcoin DeFi interest rises: Finance Redefined

The amount stolen through crypto hacks and the number of successful attacks sharply declined in April.

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Bybit CEO refutes insolvency rumors, shares proof-of-reserves

Ben Zhou shared a post on X, clarifying that none of the rumors have any real facts supporting them.

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