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The U.S. Securities and Exchange Commission (SEC) has sued Hex and its founder Richard Schueler aka Richard Heart . The SEC charged the Hex founder with misappropriating millions of dollars of investors’ funds from unregistered cryptocurrency assets. According to the filing, the SEC claims that Hex is a security and unlawfully raised more than $1 billion through offerings. Also Read: 74 Countries Ready To Attend BRICS Summit In August Heart is also the founder of PulseChain (PLS) and PulseX which was launched on May 15, 2023. The founder had asked investors to sacrifice their cryptocurrencies in exchange for PLS and PLSX tokens. Source: sec.gov/news/ The lawsuit alleges that Heart attempted to evade securities laws by calling on investors to “sacrifice” (instead of “invest”) their cryptocurrency assets to receive PLS and PLSX tokens. The SEC lawsuit alleges that Heart defrauded investors by spending their “sacrificed” cryptocurrencies on exorbitant luxury goods. The co

Binance is now officially allowed to offer crypto services to institutional and qualified retail investors in Dubai. Major cryptocurrency exchange Binance has reached another milestone in relationships with regulators in the United Arab Emirates by winning a new license in Dubai. Binance’s Dubai-based subsidiary, Binance FZE, has obtained the Operational Minimum Viable Product (MVP) license from Dubai's Virtual Asset Regulatory Authority (VARA), the firm announced on July 31. The new license officially allows Binance to operate two activities, including cryptocurrency exchange services and virtual asset broker-dealer services. The services enabled by the license are currently limited to institutional and qualified retail investors in Dubai, Binance noted. Eligible investors in Dubai will now be able to access authorized services like crypto-to-fiat exchange compliant with the intergovernmental Financial Action Task Force (FATF). “Institutions and residents that qualify to use the

What Are NFT Royalties? A Game-Changer for Digital Artists and Content Creators  In the age of Web 3.0, the world of art and content creation is undergoing a transformative change. NFTs empower artists to monetize their talents. Discover NFT royalties, central to this digital revolution. Creators benefit globally from “NFT royalties,” a game-changer in this innovative ecosystem. Discover its crucial Features . Also read: What Are Blue-Chip NFTs? Source: Investopedia Understanding NFTs and Their Significance for Creators NFTs, or non-fungible tokens, represent unique digital assets stored on a blockchain. Additionally, NFTs stand out and cannot be exchanged like crypto currencies. Unlike Bitcoin or Ethereum, each NFT is unique. Furthermore, NFTs’ uniqueness suits rare items and intellectual property representation, like art, music, virtual real estate, and more. NFTs enable artists to showcase work globally, reach wider audiences, and earn fair compensation for their cr

DragonMaster Web3 Wallet launching has been announced. DragonMaster Web3 Wallet (hereinafter referred to as “DM Wallet”) is a hosted and decentralized multi-chain wallet. Built-in multi-chain, cross-chain, DEX, a one-stop investment tool focused on Web3 games. All crypto assets and smart contracts of DragonMaster can be easily accessed through the DM Wallet. The advantages of using DM Wallet are: No need to remember seed phrases and private keys, but still have ownership of assets. Compared with non-hosted wallets, users are easier to use and can better focus on Web3 game content. Support multi-chain network, which can easily manage the crypto assets of Polygon and Meter main network that have been deployed. Supported iOS, Android, and web browsers. Here’s how to join DM Web3 Wallet: Register to own — Registering for a DragonMaster account means owning a DragonMaster Web3 Wallet Bind DM game account — DM Wallet is a multi-chain decentralized wallet. Task operations such as transfers,

The Asian crypto market is thriving. This region is home to 35% of the global crypto workforce. The two most populous nations, India and China, are currently in the lead, followed by Singapore. These three Asian nations roughly employ around 29,400 people out of a total of 65,900. Hong Kong, South Korea, and Indonesia stood right behind, accounting for 5%-10% each. The UAE, Australia, Turkey, and Thailand were at the bottom of the ladder. The remaining countries, together, accounted for 21%. Binance, OKX, and Crypto.com emerged as the top employing organizations. Collectively, their workforce consisted of around 8,300 Asian employees. Source: K33 Research Also Read: India: BlackRock, Jio to Launch Digital Asset Venture Making a Case for Singapore Several nations from the list are deemed to be crypto hubs in the global economy. Take the example of Singapore. Right from Ripple to Crypto.com, a host of prominent companies have been receiving licenses from the Monetary Autho

A key congressional committee will vote on bills establishing crypto regulations this week. U.S. House Republicans introduced a bill for a regulatory framework on crypto exchanges. Bipartisan bill aims to strengthen KYC and AML regulations for DeFi with sanctions requirements. On July 26, Reuters reported that this week, a significant congressional committee is scheduled to vote on several bills aimed at establishing a regulatory structure for crypto. Through this voting, Capitol Hill is taking a significant step to establish federal oversight of the digital asset industry. On Thursday, U.S. House Republicans presented a bill focused on overseeing digital assets, with the primary objective of setting up a regulatory structure to safeguard investors within the crypto sector. The bill, which was initially drafted in early June, seeks to establish a clear regulatory framework for crypto exchanges. Its primary objective is to facilitate the registration process f

This week, the principal congressional committee reviews multiple bills as they seek to establish a comprehensive regulatory framework for the crypto industry. The occasion marks a pivotal turning point for federal engagement in digital asset regulation, building upon previous endeavors led by the House Financial Services Committee. Drafting of crypto regulation is partly driven by recent losses suffered by investors due to the abrupt downfall of several companies, including Voyager Digital, Celsius Network, and FTX. This underscores the urgency for legislative intervention.  You might also like: US SEC may appeal XRP ruling, Kuwait bans crypto as FTX saga unfolds| Weekly recap Proposed bills aim to create a dichotomy for categorizing a crypto asset as a security or a commodity while also outlining a supervisory mechanism for stablecoins—digital tokens typically anchored to traditional assets like the US dollar. NEWS – The House will begin the markup on 2 digital asset b

Ahead of the launch, Binance said it would offer zero maker fees for all FDUSD trading pairs. The recently introduced stablecoin , FDUSD, which was scheduled to be listed on Binance on July 26, 2023, at 08:00 (UTC), enabling trading for FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs has now been postponed to restart at 2023-07-26 14:00 (UTC) due to FDUSD pairs’ liquidity providers experiencing technical issues . Binance released a statement that it will halt trading for First Digital USD (FDUSD) on 2023-07-26 09:45 (UTC) and cancel all pending FDUSD orders, to ensure its users' protection. First Digital Group announced the launch of the First Digital USD United States dollar-pegged stablecoin on June 1. First Digital Group, comprising First Digital Trust, a custodian and trust firm based in Hong Kong said the upcoming debut and listing of its stablecoin, First Digital USD (FDUSD), issued by FD121, would be on Binance. The announcement was made on July 26, 2023. Screens

The Ducati and Ripple Partnership As announced by Ducati, it will be leveraging the powers of Ripple’s XRPL technology to deploy some of the projects it is currently incubating. The NFTs will be released in partnership with NFT PRO™ as it seeks to expand the scope of its engagement with its fans around the world. advertisement While the NFT collection remains the most important highlight of the Ducati Web3 campaign, it will also be complemented by the series of events developed through the creation of new digital aggregation spaces and other relevant engagements in the Web3.0 space. As a major tech giant, the embrace of the XRP Ledger takes precedence based on the fact that the blockchain protocol is highly energy efficient as it is designed to be Carbon-neutral. As the company revealed, some of the pieces of its history that will be implanted on the XRPL include its “first digital era are the sale of the first motorcycle online on January 1, 2000.”

XRP’s price surged after a U.S. judge ruled in favor of Ripple Labs, stating no violation of securities law. The ruling boosted the altcoin market, easing regulatory concerns about token classification. The overall crypto market is currently experiencing a decline, with XRP also losing value recently. XRP experienced a significant price increase following a US judge’s ruling on July 13. The ruling stated that Ripple Labs’ sales of the token on public exchanges did not violate securities law. Following this, XRP’s market cap rose from $25 billion to $36 billion, and its crypto market share increased from 2% to 3.5%, according to CoinMarketCap. This ruling had broader implications for the altcoin market, which includes cryptocurrencies other than Bitcoin. The victory for Ripple provided some relief to the altcoin sector, as many tokens were under regulatory scrutiny to determine if they should be classified as more tightly-regulated securities. Analysts, su

Shiba Inu (SHIB) has launched a new YouTube channel dedicated to its layer-2 network, Shibarium. The channel is called “Shibarium Tech” and has three videos so far. All three videos were uploaded just a few hours ago, and each has a different animation. According to SHIB influencer “LUCIE,” the team is “cooking something.” We are cooking something…. follow on youtube …. https://t.co/uDAwKvy1nj#SummerOfShibarium pic.twitter.com/GzQ3QtMgsW — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 24, 2023 Also Read: Shiba Inu: Shibarium Undergoing Final Updates Before Launch The first clip is an 8-second video featuring the shib arium logo with a green tint. The video ends with the words “Shibarium Technology” and “L2 WITH $BONE AS GAS FEE TOKEN.” The second video is a 5-second clip with the Shibarium logo. The video ends with the words “Burn $SHIB on Every Transaction.” Shibarium is said to bring in a new burn mechanism for Shiba Inu (SHIB). There have been rumors that the new network will burn tril

Jul 23, 2023 at 17:56 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, the price of Quant (QNT) has been trading within a range after the bearish plunge on June 10. Quant long-term price forecast: fluctuation zone The initial attempt of buyers to break through the resistance at $120 led to a fluctuating movement of the cryptocurrency. Over the past month, QNT has been moving between $95 and $120. At the time of writing, the altcoin is trading at $102.43. On the upside, further upward movement of the altcoin is being held back by the movi

John Deaton critiques SEC’s view on common enterprise factors in the XRP case. SEC argues Judge Torres made an error in her XRP ruling. Deaton believes the common enterprise factor is even more challenging for the SEC to establish. In response to the recent US regulator filing in the Do Kwon lawsuit, John Deaton, a pro-XRP lawyer, critiqued the agency’s stance on the common enterprise factor in the XRP case, hinting at a potential appeal. The Securities and Exchange Commission (SEC) argued that Judge Analisa Torres made an error in her XRP ruling and expressed the likelihood of appealing the decision. According to Deaton, the common enterprise factor is even more challenging for the SEC to establish than the third factor of the Howey test, which has been a crucial element in determining whether an investment qualifies as a security. READ FOOTNOTE 13 PEOPLE: “The Court holds only that a common enterprise existed between Ripple and the Institutional Buyers. The

Also Read: Ethereum Price Dump Incoming? ETH CEXs Inflows Hits 2-Month High advertisement Tesla Chooses DOGE Over Bitcoin Wu Colin earlier reported that there were several rumors in the crypto community about Tesla adding Bitcoin and Dogecoin to its main source code of payment page. A verification suggested that both BTC and DOGE were present in the payment page source code since January 2023. He mentioned that the electric automobile giant hadn’t removed the code carrying Bitcoin and Dogecoin when it earlier discontinued the service to pay with BTC. However, he added that at present it seems like Tesla has decided to retain just Dogecoin over BTC for this service. This might come as a surprise for the crypto community as Tesla decided to ditch Bitcoin and choose DOGE. However, Tesla hasn’t made any official announcement regarding this move. Elon Musk, CEO of Tesla has been a big fan of DOGE already. He has been caught promoting the biggest memecoin