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Hong Kong Regulator Takes a Strict Approach With Exchanges Wanting to be Licensed

Hong Kong’s FSC is dissatisfied with the exchange services provided by deemed-to-be-licensed crypto firms. If the exchanges do not adhere to the FSC’s requirements, they will not receive full licenses to operate legally in the jurisdiction. A Bloomberg report revealed that Hong Kong’s Securities and Futures Commission (SFC) is dissatisfied with crypto exchanges in the process of receiving a full operational license. Unnamed sources close to the matter told Bloomberg about on-site visits...

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Layer-2 Meme Coin Pepe Unchained Raises $10M in Presale Event

Berlin, Germany, August 23rd, 2024, Chainwire Pepe Unchained (PEPU), a new meme coin project, has raised over $10 million during its presale event. The project, which is developing a Layer-2 solution on the Ethereum blockchain, has reported significant funding and community interest by promising faster transactions, reduced fees, and staking rewards. Pepe Unchained Passes $10M Presale Milestone Ahead of Planned DEX Listing The presale allows early investors to buy the native PEPU token...

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12,000 Bitcoin Removed from USDD Reserves, Sun Responds

Tron founder Justin Sun has downplayed concerns following the removal of 12,000 Bitcoin, worth over $729 million, from the reserves backing Decentralized USD (USDD), a stablecoin governed by the Tron DAO Reserve. The action was recorded on August 19, when the blockchain observer Blockchair discovered that the Bitcoin was taken out of the address that was linked to the USDD collateral. This led to concerns on the social media platform x (former Twitter), where some of the users said that Sun...

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Colombia Investigates Worldcoin for Data Privacy Violations

Colombia’s consumer protection agency, the Superintendence of Industry and Commerce (SIC), has initiated an investigation into Worldcoin, a biometric cryptocurrency project, and its parent company, Tools for Humanity. The SIC alleges that they breached Colombian personal data protection legislation by gathering biometric data like iris scans without consent. Worldcoin, co-founded by OpenAI CEO Sam Altman, gives out “World IDs” whenever people use an Orb to SCAN their irises. In return for...

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