The Crypto regulation Bill becomes law in UK After the approval of King Charles III, the Financial Services and Markets Act 2023 has become law in the United Kingdom, and crypto will now be considered a currency in the UK. **The New Law and Crypto** The Financial Services and Markets Bill was a government bill introduced in July 2022, the main objective of which was to adapt the regulatory framework for the UK market. The UK's crypto-friendly Prime Minister, Rishi Sunak, did…
@Yugocean in July 2023
Situation of crypto industry in the US Crypto is the economic revolution of the digital age; it cannot be stopped, but the crypto industry in the US has come under threat from the ravages of the authorities and Wall Street. **US industries may leave the country** US Industries are constantly keeping an eye on the economic policies of the world; they start the process of getting established there, wherever there is a hint of appropriate policies. For example, California-based…
What are the main reasons for not completing KYC on KuCoin? Ever since KuCoin announced it would make KYC mandatory, there has been a problem. For many reasons, people do not want to do KYC, which is a valid reason in itself. The main reasons are: **Privacy Problem** Some people do not want to do KYC for their own privacy. Personal privacy has been a very sensitive issue in the online space since its inception. People of this ideology do not want to do KYC due to the…
Poly Network Exploit 2.0 Shocks the Crypto World The cross-chain protocol Poly network has been hacked once again, and fake mining has put the crypto world's security measures to the test. **HACKING MINING SCAM** The attackers mined $42 billion worth of tokens by abusing a smart contract function of Polynetwork's bridge tool. This includes BUSD and BNB on the Metis blockchain; SHIB on the Heko blockchain; and many other tokens on Avalanche, Polygon, and BSC Networks.…
Vitalik Buterin claims risks in Ethereum Staking Ethereum co-founder Vitalik Buterin shocked everyone by announcing that he does not take all of his ETH due to the risks involved. **STAKING PROBLEM** When staking ETH, the keys to access it become public on the online subsystem, and multisig is necessary for security. Vitalik Buterin believes that multisig is too complicated and difficult to set up. Sriram Kannan, founder of retaking platform Eigenlayer, has also admitted the…
Twitter competitor App Threads by Meta is set to launch Ever since Elon Musk bought Twitter, he has become the biggest rival of social media king Mark Zuckerberg. Now a new app called Threads is being released by Zuckerberg's company, Meta, to give direct competition to Twitter. **Possibility for Threads** Since Threads is a Meta product, it will get support from other Meta platforms like Facebook, Instagram, and WhatsApp. At this time, Elon Musk has set a limit on Twitter…
Binance suspends support for multiple Multichain-Bridged Tokens Binance has indefinitely suspended support for several multichain-bridged tokens. This will be effective on July 7. They will no longer be able to deposit or withdraw on the Binance platform. **Reason For Binance** Some cross-chain routes of the Multichain Protocol became unavailable due to force majeure, with an unknown timing of service restoration. This is not the first time this has happened. On May 24,…
Twitter challenges competition by entering the Money Transaction Business Twitter has obtained a license to conduct money transactions in Missouri, Michigan, and New Hampshire. Along with this, Twitter has presented a big challenge in the competition. **Twitter landed on a money transaction** Elon Musk founded X dot com, an online bank, in 1999, which merged with Confinity, an online wallet company, to form the world's largest payment processor, PayPal. Now Musk has started…
Elon Musk vs. Mark Zuckerberg: A Strong Competition There is a cold war situation between Elon Musk and Mark Zuckerberg regarding Twitter and Threads. But the comparative situation of both is different. **Comparative Elements of Competition and Productivity** Thread's founder, Mark Zuckerberg, has a strong hold on social media. From his experience, MySpace, Orkut, and Google Plus have not been able to stand before him. On the other hand, Elon Musk, the owner of Twitter, is…
Nigeria is leading Africa in the crypto sector Popular digital currency data aggregator, analyst, and ranking system Coingeco has analyzed crypto interest in 2023 on a year-to-date (YTD) basis, with Nigeria leading the way so far. **Nigeria is leading** Only 15 countries account for 97.5% of crypto interest on the continent of Africa so far, with Nigeria leading the way as the single country with the highest level of 66.78%. In the crypto sector, Nigeria has overtaken South…
Standard Chartered predicts Bitcoin bull run Recently British multinational bank Standard Chartered has announced nice growth on the value of bitcoin which is giving more significance to the bulls. **Asia and Africa Effect** The UK, US, and EU account for a very small portion of Standard Chartered's overall business; Asia and Africa account for 90% of its total revenue. Accordingly, Standard Chartered's Bitcoin value forecast is affected more by the state of bitcoin in Asia…
CMC Reports Binance in Top Exchange The research report on the H1 2023 State of the Exchanges has been published by Coin Market Cap (CMC). It includes both CeFi and DeFi. **Binance is on Top** CMC claims that Binance holds the top position with a 59.99% share of the total spot trading volume. Binance continues to dominate liquidity in the large-cap sector, Binance's new listings focus on high-quality mainstream coins. Binance also has the largest Proof of Reserve at $50…
KuCoin Annouce Reward for Completing KYC KuCoin has announced 5USDT rewards for completing its controversial and mandatory KYC (step1). Now who will do KYC for the prize? **KYC Of The Prize** No KYC No service—this is a threat. Most Kucoiners are privacy-focused and have felt uneasy ever since KuCoin made KYC mandatory. Many users have withdrawn their investments, and many are holding on until July 14 (like me). Kucoin seems to have sensed this, so it has announced rewards…
Happy Birthday Binance on 6th Establishment Day 14 July 2023, Binance has completed six years, and during this time it has established itself as the largest crypto exchange in the world. Although Binance also has a number of drawbacks, such as the lack of a Lightning feature that reduces withdrawal fees, the existing features are at the forefront. C**Z's Diplomacy Popularised Binance** CEO CZ avoids getting caught up in any controversy and travels around the world promoting…
AMPL issue and KuCoin alternatives Kucoin's problem starts today. I'm still not ready to give up on privacy, plus some AMPL problems have to be sorted out. **AMPL Deposit and Trade problems** AMPL is an important currency for many authors; it is easily deposited into KuCoin and can also be traded with USDT, which is tradable with any other crypto on any platform. Now, for non-KYC (irrespective of seniority), the deposit route is closed. So we have to adopt a new route.…
SEC is preparing to Overturn Ripple Case Gary led US Securities and Exchange Commission (SEC) is not ready to accept the defeat in Ripple case. The defeat in Ripple case might end the arbitrariness of SEC in crypto sector, so SEC is trying to reverse the decision of Ripple case. **SEC to Reappeal for small-scale Investors?** The SEC will have to appeal to the second circuit to reverse the court's decision, but it cannot simply appeal without a strong reason. Former SEC…
Binance 6YA Rewards are still available Binance is still celebrating its 6-year anniversary, and there are multiple reward offers and competitions. You guys should join in and try to win a gift. **Participation is Simple** It is not difficult to participate in the 6YA; there are some simple quiz or tasks to complete. But one has to go to the respective contest and register for it (just click to activate your participation). At the end, only verified users will be able to…
Bitcoin Beauty and Bear Attack The bears have attacked the crypto world again, which has turned the market red again. But it seems that the bulls are also ready, with signs of greenery. **Some Frustration with Bitcoin** The crypto-king bitcoin price dropped below 30k and was struggling to rise again; now its price stability is struggling to stay at 29k. Many analysts are of the view that the price may fall further, which means that the bear attack may intensify. **The bulls…
All About Litecoin Halving The Litecoin halving cycle is pre-set in the LTC protocol to keep mining in check; it occurs on a schedule every 840,000 blocks. Now we are going for the third halving. **HISTORY OF LTC HALVING** Litecoin mining initially started on the Genesis Block on October 7, 2011 at 7:31:05 AM GMT with a 50 LTC Block Reward. **The first halving** occurred at Block 840,000 on August 25, 2015, at 10:58:50 PM GMT, and the mining reward was decreased to 25 LTC…
US court dismisses human rights abuse case against Bitcoin country El Salvador The hatred of a section of the population against the crypto world is such that El Salvador was sued in a New York court on the pretext of crimes against humanity just after it made Bitcoin legal tender. Recently, the court dismissed that case. **Human Rights Issue** El Salvador has been cracking down on armed rebels and miscreants, arresting members of all the country's criminal gangs, and as…
Roar of gag order in court against SBF and FTX witnesses New York District Judge Lewis Kaplan's court is considering a gag order on SBF and other witnesses in the ongoing FTX trail, which will bar them from commenting on a witness to third parties. Request for gag order on Carolyn Ellison's infamy The Department of Justice (DOJ), a federal agency of the US government, has accused SBF, the mastermind of the devastating FTX empire scam, of attempting to discredit Carolyn…
Dogefather declares Twitter is X Twitter owner Elon Musk has "X"ed Twitter; now the new Twitter can be reached directly by opening X.com. Apart from this, Musk has also DOGE the Twitter Empire. **THE RETURN OF X CORP** Elon Musk founded X dot com, an online bank, in 1999, which merged with Confinity, an online wallet company, to form the world's largest payment processor, PayPal. Now Musk has brought X back. Elon Musk has bought Twitter for a heavy price of $44 billion, so…
KuCoin lays off 30% staff Kucoin is a big player in the crypto world, but it seems that its market is starting to collapse, due to which it has had to cut 30% of its staff. **CEO Johnny describes layoffs as evaluations** KuCoin CEO Johnny Lyu has denied the layoff and described it as a regular evaluation based on employee performance and company growth. As such, Johnny has not explicitly ruled out layoffs but has linked the fired employees to not being a good fit for the…
Importance Of Stablecoins A stablecoin, true to the name, is a stablecoin; it is based on the mirror image of a real-world fiat currency. **Stable With Fiat** Most of the stablecoins are based on United States Dollar (USD), like USDT, USDC, DAI, USDP. Even multiple exchange platforms have USD based native stable currencies, for example BUSD (Binance), GUSD (Gemini) etc. There are multiple other stablecoins too, which are based on fiat currencies other than USD; for examples…
Who the hell is Saratoshi Nagamoto? US Congressman Brad Sherman, while giving a speech, gave this great quotation: "I don't believe that Saratoshi Nagamoto was innovative." And become a laughing stock. **Who is Saratoshi Nagamoto?** By Saratoshi Nagamoto, Sherman was mentioning Bitcoin and Blockchain founder Satoshi Nakamoto, but due to not being able to take care of the pronunciation, Sherman misspoke, and has also become a laughing stock in the crypto world. The…
Start Making Money on X Twitter Elon Musk had made a promise to start a revenue share program that would help Content creators earn, and today Musk has made this announcement on X a reality. **Minimum Eligibility** : Varified account with 500 followers, 15m impression (from varified users) in last 3 months. Payments will be sent via **Stripe**. **X Provides a BIG Opportunity for Content Creators** There are many part-time or full-time online freelance earners who have been…