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Tag Archives: AA News

Australia’s Largest Bank to Temporarily Cease ‘Certain’ Payments to Crypto Exchanges 

Commonwealth Bank of Australia (CBA), the largest bank in Australia, announced a temporary decline in “certain” payments to cryptocurrency exchanges as part of newly introduced measures to battle scams in the country. According to an official release, the CBA will decline or hold crypto payments for 24 hours or more. As part of the scam risk measures, the bank will also place a A$10,000 ($6,650) limit on the payments made to exchanges in the coming months. CBA to Pause...

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Binance Unveils New Cloud Mining Products Amidst Regulatory Turmoil

Binance announced the launch of a new batch of Cloud Mining products for BTC mining in a statement on Wednesday. The exchange’s cloud mining service was released last November and enabled users without mining equipment to earn mining rewards from Binance Pool. Subscriptions, on the other hand, are required to buy hash rates and Bitcoin mining on Binance’s cloud. According to the official blog post, the subscription of the new batch will begin on June 8 and will follow a...

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US Government Objects to Bittrex’s Customer-Repayment Proposal

Bittrex’s attempt to return customer funds has met with a significant roadblock from the United States, sparking concerns about the proposed resolution for the crypto exchange’s bankruptcy case. The firm filed for Chapter 11 bankruptcy protection in Delaware in May, less than a month after the US Securities and Exchange Commission (SEC) charged it with operating an unregistered exchange. Two other divisions – Bittrex Malta Ltd. and Bittrex Malta Holdings Ltd. – also filed for...

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What Ethereum Needs to Rise Above $2000: Bloomberg Analyst

Ethereum (ETH) appears trapped under $2000 after a stock rally has failed to push it past the price point, according to Mike McGlone, Senior Macro Strategist for Bloomberg Intelligence. Here’s what the analyst believes Ethereum needs to break the 12-month-long resistance level.  Ethereum’s Major Resistance In a tweet on Thursday, McGlone said that $2000 looks like a “resistance ceiling” given that ETH has failed to sustain itself above that, despite the NASDAQ 100 stock index...

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Bitcoin Investors Remain Resilient Despite Blow on Coinbase, Binance: Data

The overall market cap fell to $1.07 trillion – a level last seen three months ago – before a modest recovery to the press time figure of $1.1 trillion. Bitcoin, for one, dumped close to a two-month-low after weeks of trading largely rangebound in recent months. Several top altcoins posted higher losses prompting concerns about additional market stress. Despite this, on-chain data reflected a bullish picture as investors remained resilient in the face of severe regulatory...

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Ripple v. SEC: The Case So Far and What’s Next for the XRP Price?

During the winter of 2020, the United States Securities and Exchange Commission fired the first bullet in what would eventually become a dragged-out legal battle against the entire cryptocurrency industry. On December 22nd, 2020, the SEC charged Ripple with conducting a $1.3 billion unregistered security offering, essentially alleging that their native cryptocurrency – XRP – is a security. Two and a half years later, the battle is still raging on, but the proportions are now...

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Is Cardano Next on SEC’s Radar? Here is Why ADA is a Security, According to the SEC

The United States Securities and Exchange Commission has filed a 101-page lawsuit against the leading US-based cryptocurrency exchange – Coinbase. The claim is that the firm has been violating securities regulations. The move came just a day after the SEC also filed against Binance. In the complaint against Coinbase, however, the Commission has made strong claims, classifying a list of 13 cryptocurrencies as securities. One of them is Cardano’s ADA, so let’s have a look at...

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UK Adviser Calls for Regulation as AI Could Threaten Humanity in 2 Years

As Artificial Intelligence (AI) continues to attain breakthroughs in what’s possible, there is a growing concern about whether these innovations may become more powerful than their creators. Matt Clifford, chairman of the UK’s Advanced Research and Invention Agency (ARIA), stressed this in a recent interview with a local news outlet. AI Needs Regulation Within 2 Years Clifford emphasized that AI needs to be regulated soon to curb the risk of becoming “very powerful” within...

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Binance CEO Summoned By U.S. District Court

Binance CEO Changpeng Zhao (CZ) has been issued a summons by the U.S. District Court for the District of Columbia following a lawsuit against himself and his exchange on Monday.  The CEO must respond to the summons within 21 days, but is not required to appear in person.  Other entities named in the lawsuit, including Binance and Binance US, must also answer the summons.  “If you fail to respond, judgment by default will be entered against you for the relief demanded in the...

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Decentralized App Sweat Economy Unveils Governance Vote to Decide the Fate of 2B SWEAT Tokens

Sweat Economy – a fitness-focused decentralized application –  announced the launch of a new governance vote on June 7th in the Sweat Wallet application. The move would enable the community to decide the fate of 2 billion idle SWEAT tokens in inactive user accounts. According to the official press release shared with CryptoPotato, users will be given two options. They can either vote in favor of having the 2 billion idle SWEAT tokens recovered and transferred back to the...

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