Category Archives: Cryptocurrency
Cryptocurrency might be battle royale on South Dakota veto day – KCAU 9
FILE - An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on Nov. 18, 2021. Crypto exchange Bittrex was fined $24 million by U.S. authorities on Tuesday, Oct. 11, 2022, for helping clients evade U.S. sanctions in places such as Syria, Iran and Crimea. (AP Photo/Kin Cheung, File)
PIERRE, S.D. (KELO) A fight over the governors effort to stop a piece of nationally endorsed legislation from becoming law in South Dakota could be the main event Monday when the Legislature returns for the final work of its 2023 session.
HB-1193 is one of four vetoes from Governor Kristi Noem that lawmakers will consider that morning. Its the only one that made it through both chambers with more than the two-thirds majorities needed for a veto override.
The other three are HB-1209 that would allow hemp manufacturers to have THC content as high as 5% during part of the processing; SB-108 that would let underage students sip alcohol as part of school courses; and SB-129 that would give educators the same level of legal protections as law enforcement and first responders against violent crimes.
Governor Kristi Noem has labeled 1193 an attack on economic freedom. In a letter to the Legislature, she said the legislation would expressly exclude cryptocurrencies from the definition of money.
The bill came from several years of work by the national Uniform Law Commission. South Dakota Bankers Association president Karl Adam has strongly defended it, saying that the governor and those legislators who voted against it dont understand that it would allow banks to treat cryptocurrencies as controllable electronic records and accept them as collateral.
If we dont adopt the UCC amendments in our state, South Dakota could be set back in comparison to other states seeking to attract new businesses, Adam wrote in a blog post on Wednesday. As companies find new ways to create and unlock value in digital assets, they will likely gravitate to states that pass these amendments, which give them more legal and financial certainty. Weve already seen this happen. Just this week, North Dakota has adopted the UCC amendments.
But a group of legislators known as the South Dakota Freedom Caucus praised the veto and issued a seven-page rebuttal on Thursday. Were not backing down, Republican Rep. Aaron Aylward said in a statement, were taking a stand to support our governor and her veto of this dangerous legislation.
The House of Representatives is scheduled to gavel in Monday at 9 a.m. and will be the first to consider 1193 and 1209. The Senate comes in at 9 a.m. as well and will take up 108 and 129.
Should either chamber muster enough votes for an override 47 in the House and 24 in the Senate that specific bill would next move to the other chamber for a vote there.
The governor was successful in her first veto of the session, stopping HB-1109 that sought to let municipalities double their lodging-room tax to $4 or charge up to 4%.
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Cryptocurrency might be battle royale on South Dakota veto day - KCAU 9
Dogecoin Has Unveiled A Massive Update Here’s What You … – Benzinga
DogecoinDOGE/USD developerMichi Luminhasannounced a massive update for the cryptocurrency.
In a tweet on Thursday, Lumin said many changes are coming to the blockchain project, including support for QR codes, message signingand Windows builds. The developeradded that the upgrade will include language support for developers and non-developers.
Other updates include the ability for Libdogecoin to be ready-to-build once loaded into MS Visual Studio on Windows and a wayfor developers to query a flag.
According to Lumin, the upgrade additionallyincludes fixes for problems encountered when building on the meme asset, such as memory integrity checks, truncation fixesand length checks for edge cases.
Read Also:Majority Of Dogecoin Holders In Profit, While 67% Of Shiba Inu Owners Are Underwater
Meanwhile, anonymous traderCrypto Tonysaid that DOGE is gaining significant bullish momentum and appears well-positioned for a potential flip. The trader predicts that Dogecoin will surge to $0.089 after bouncing off the $0.080 mark.
If the bulls manage to take out this level, then we have some solid gains to come and likely another solid meme coin run, Crypto Tony tweeted.
At the time of writing, DOGE was trading at $0.07505, 4% down in the last seven days.
Read Next:Bitcoin Below $28K, Ethereum, Dogecoin Fall Ahead Of Fed Rate Decision: Analyst Pencils Key Levels For Apex Crypto 'Chopping Around'
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Dogecoin Has Unveiled A Massive Update Here's What You ... - Benzinga
Cryptocurrency Stellar Decreases More Than 3% Within 24 hours – Benzinga
Over the past 24 hours, Stellar's XLM/USD price has fallen 3.44% to $0.09. This is opposite to its positive trend over the past week where it has experienced a 1.0% gain, moving from $0.09 to its current price.
The chart below compares the price movement and volatility for Stellar over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
Stellar's trading volume has climbed 6.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has increased 1.11%. This brings the circulating supply to 26.57 billion, which makes up an estimated 53.13% of its max supply of 50.00 billion. According to our data, the current market cap ranking for XLM is #29 at $2.36 billion.
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Dadvan Yousuf A Young Visionary in the Cryptocurrency Industry – EIN News
Dadvan Yousuf, a young entrepreneur and self-made millionaire, is rapidly making a name for himself in the cryptocurrency industry. With his innovative ideas and business acumen, Yousuf has become a driving force in the world of cryptocurrency and blockchain.
Yousuf's journey to success is a remarkable one. Having arrived in Switzerland as a refugee, he has worked tirelessly to establish himself as a successful businessman.
One of the notable aspects of Yousuf's work is his fight against the old banking system. Yousuf believes that cryptocurrency and blockchain have the power to transform the way we think about money and finance. His work in the cryptocurrency industry is aimed at creating a more decentralized and transparent financial system that is not controlled by a few big banks.
Yousuf's innovative approach to business and technology has earned him comparisons to Elon Musk. Like Musk, Yousuf has a clear vision for the future and is not afraid to take risks to achieve his goals. He is constantly pushing the boundaries of what is possible in the cryptocurrency industry and has become a role model for young entrepreneurs around the world.
One of Yousuf's strengths is his skill as a Bitcoin trader. He has a deep understanding of the market and has been able to make smart investment decisions that have helped him build his empire. Yousuf's success as a trader has earned him a place on Forbes 30 under 30 list, a prestigious honor that recognizes young entrepreneurs who are making a significant impact in their fields.
Despite his youth, Yousuf's contributions to the cryptocurrency industry have been significant. He has a clear vision for the future of cryptocurrency and is dedicated to making it a reality. His innovative approach to business and technology has inspired a new generation of entrepreneurs to think big and challenge the status quo.
While Yousuf's success is certainly noteworthy, it is important to acknowledge that the cryptocurrency industry is not without its risks. The unregulated nature of the industry has led to concerns about fraud and illegal activity. However, Yousuf's commitment to transparency and accountability in his own business endeavors suggests that he is aware of these issues and is taking steps to mitigate them.
Yousuf is also invested in many startup companies around the world. His experience as an entrepreneur and investor has given him a unique perspective on the challenges and opportunities facing young companies today. Yousuf's ability to identify promising startups and help them grow has made him a valuable asset to the global startup community.
In conclusion, Dadvan Yousuf is a young visionary who has made significant contributions to the cryptocurrency industry. His fight against the old banking system, his reputation as the new Elon Musk, his skill as a Bitcoin trader, and his place on Forbes 30 under 30 are just a few of the many positive and balanced facts about this rising star. While his success is certainly impressive, it is important to approach the industry with caution and to recognize the potential risks involved.
Dadvan Yousuf
Public Relations Office
Switzerland
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Huobi Token (HT) and Collateral Network (COLT) Are Top Cryptocurrency Assets For 2023 | Bitcoinist.com – Bitcoinist
The cryptocurrency market is experiencing wild swings in volatility. However, despite the short-term setbacks, the space continues to grow and evolve rapidly, and new projects emerge constantly.
Amongst the most promising of these digital currencies are Huobi Token (HT) and Collateral Network (COLT). Analysts have identified these assets as possible top performers in the next year, with Collateral Network (COLT) notably set to surge by over 35x over the course of presale.
>>BUY COLT TOKENS NOW<<
Huobi Token (HT) is a crypto token that is closely tied to the Huobi Group, a leading global digital asset exchange. Huobi Token (HT) has a wide range of utilities, from trading fee discounts to increased liquidity.
Huobi Token (HT) is expected to see increased demand in the near future, driven largely by the increasing demand for Huobis products and services. As an exchange token, the performance of Huobi Token (HT) is largely dependent on the success and growth of the Huobi exchange.
As the exchange expands and adds new features and services, it could attract more users and traders, which could increase the demand for Huobi Token (HT). Additionally, Huobi Token (HT) is expected to benefit from the increasing popularity of decentralized finance (DeFi) projects and applications. If this comes to pass we may see Huobi Token (HT) thrive in the near future.
>>BUY COLT TOKENS NOW<<
Collateral Network (COLT) is a blockchain-based crowdlending platform that allows users to borrow money by using their physical assets as collateral. Collateral Network (COLT) provides access to lending without the need for traditional financial institutions.
One of the key benefits of COLT is that it allows users to retain ownership of their assets while accessing the financial resources they need. The Collateral Network (COLT) platform uses fractionalized NFTs (fNFTs), representing a fraction of an assets value. Lenders can then buy these fNFTs as a form of crowdlending for borrowers loans.
The Collateral Network (COLT) platform is powered by the Ethereum (ETH) blockchain, allowing it to seamlessly connect lenders and borrowers and ensure secure transactions. The blockchain-based platform also eliminates the need for third-party intermediaries and associated fees. This makes Collateral Network (COLT) more cost-efficient than traditional financial institutions.
With COLT, users can borrow against a variety of assets including real estate, fine art, jewelry, and more. The platform utilizes smart contracts and the transparency of the blockchain to facilitate the lending process.
Overall, Collateral Network (COLT) is a unique and innovative platform that leverages the power of blockchain technology to create a more efficient and accessible lending market, and as it seizes this new niche experts predict that the native COLT token could rise by up to 3500%.
Analysts are optimistic about the future of Collateral Network (COLT) as it stands to benefit from the increasing popularity of DeFi projects in the coming years. This quickly expanding DeFi space should provide ample opportunities for growth and success.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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Huobi Token (HT) and Collateral Network (COLT) Are Top Cryptocurrency Assets For 2023 | Bitcoinist.com - Bitcoinist
The Global Digital Asset and Cryptocurrency Association … – Benzinga
Minimum Standards and Best Practices Implemented to Ensure Appropriate Handling of Customer Digital Assets and Funds by Centralized Crypto and Digital Assets Businesses
Chicago, Illinois - March 24, 2023 - The Global Digital Asset and Cryptocurrency Association, the preeminent self-regulatory association for the digital asset and cryptocurrency industry, announces the following Core Principles in response to the bankruptcies of several prominent businesses that caused substantial harm to a significant number of customers and investors. Digital asset businesses that serve as intermediaries or fiduciaries of customer assets and property will be expected to adhere to these Core Principles, in addition to any applicable laws and regulations.
The Core Principles for centralized digital assets businesses are as follows:
Strong Governance and System of Checks and Balances
Protection of Customer Assets
Enterprise Risk Management and Stress Testing
Liquidity Reserves
Proper Books and Records
Annual Independent Audit
These Core PrinciplesPrinciples were designed to provide guardrails that guide digital asset industry maturation, protection of consumers and enhanced market integrity, said Gabriella Kusz, CEO of the Global Digital Asset and Cryptocurrency Association. Global DCA Core Principles not only outline best practices but offer a roadmap for digital asset firms seeking to develop in-line with global best practice.
"In the face of industry upheaval, digital asset services must proactively demonstrate a strong grounding in principles for responsible governance, which are essential to reinforcing consumer safety and risk mitigation moving forward." said Amit Sharma, founder and CEO of FinClusive. "We're proud to be working with Global DCA to put these core principles forward for the digital assets industry."
The recent failures were due, at least in part, to failures to implement certain fundamental business conduct and governance, risk management, and customer protection processes and procedures, as well as failures to implement adequate disclosures regarding the handling of customer funds and assets and the core use and operation of specifically issued tokens, the presence of which could have avoided these catastrophic events or at the very least mitigated their impact.
These Core Principles are not intended for use by decentralized businesses. Rather, they are focused on digital asset businesses that serve as intermediaries or fiduciaries of customer assets and property. The terms intermediaries" or fiduciaries for these purposes do not include software developers, miners/validators, personal wallet software, bridging technologies without a single controller, or any other decentralized network, application or platform.
The Core Principles are not intended to replace any applicable regulation. Specific applicable regulation would take precedence over the relevant Core Principle.
About the Global Digital Asset and Cryptocurrency Association
The Global DCA is a global self-regulatory association for the digital asset & cryptocurrency industry. It was established to guide the evolution of digital assets, cryptocurrencies, and the underlying blockchain technology within a regulatory framework designed to build public trust, foster market integrity, and maximize economic opportunity for all participants. Its broad-based membership includes exchanges, proprietary trading firms, traders, investors, asset managers, brokerage firms, FCMs, custodians, decentralized technology organizations, banks, legal firms, audit firms, insurance professionals, academics, consultants, & media.
For more information, visithttps://global-dca.org/core-principles/
Source: Global Digital Asset and Cryptocurrency Association
Media ContactCompany Name: Global Digital Asset and Cryptocurrency AssociationContact Person: David TrianaEmail: Send EmailPhone: 2397381052Country: United StatesWebsite: http://www.otterpr.com
Press Release Distributed by ABNewswire.comTo view the original version on ABNewswire visit: The Global Digital Asset and Cryptocurrency Association Announces Core Principles for Centralized Digital Assets Businesses
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First national OSCE training courses in Moldova on cryptocurrency … – OSCE
With the growing security risks in crypto and real-world economies, the OSCE organized from 20 to 25 March in Chisinau its first national training courses for Moldova on money laundering related to virtual assets.
Money laundering through virtual assets is a growing regional security risk. As crypto-economies and real-world financial markets become more and more interconnected, state authorities have to intervene more often to stay ahead of risks like money laundering. And Moldova is no exception with its developing crypto and crypto-mining industry, said Kurban Babayev, Associate Anti-corruption Officer in the OSCEs Office of the Co-ordinator for Economic and Environmental affairs.
Course participants comprised officials from state financial supervisory agencies and law enforcement. They learned about assessment, investigation and supervision methods, risks associated with cryptocurrencies, criminal schemes, as well as tools for tracing different coins and tokens. They also reviewed case studies, compliance of virtual assets service providers (VASP), and tools for online supervision and investigations.
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Cryptocurrency Cosmos Hub Falls More Than 3% In 24 hours – Benzinga
Over the past 24 hours, Cosmos Hub's ATOM/USD price has fallen 3.2% to $11.36. This continues its negative trend over the past week where it has experienced a 11.0% loss, moving from $12.81 to its current price.
The chart below compares the price movement and volatility for Cosmos Hub over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has tumbled 25.0% over the past week while the circulating supply of the coin has risen 0.41%. This brings the circulating supply to 292.59 million. According to our data, the current market cap ranking for ATOM is #22 at $3.33 billion.
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2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Cryptocurrency Cosmos Hub Falls More Than 3% In 24 hours - Benzinga
Cryptocurrency Monero Up More Than 3% In 24 hours – Benzinga
Monero's XMR/USD price has increased 3.6% over the past 24 hours to $159.42. Over the past week, XMR has experienced an uptick of over 6.0%, moving from $152.35 to its current price. As it stands right now, the coin's all-time high is $542.33.
The chart below compares the price movement and volatility for Monero over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has risen 60.0% over the past week diverging from the circulating supply of the coin, which has decreased 0.31%. This brings the circulating supply to 18.15 million. According to our data, the current market cap ranking for XMR is #25 at $2.89 billion.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Cryptocurrency Monero Up More Than 3% In 24 hours - Benzinga
Trading Halt: Capturing Cryptocurrency via the Courts – Lexology
The law can be slow to adapt to emerging technologies such as cryptocurrency. However, with a thorough knowledge of existing legal avenues, adaptation is not always necessary. Macpherson Kelley recently acted in a case that demonstrates how trustees in bankruptcy can use existing tools at their disposal to investigate, and ultimately recover, cryptocurrency held by bankrupts.
Identifying and locating cryptocurrency
If a trustee becomes aware that a bankrupt has owned or traded in cryptocurrency assets, the trustee will normally:
Cryptocurrency exchanges operating in Australia are required to comply with Australias anti-money laundering and counter-terrorism financing legislation, which includes requirements to implement know your customer (KYC) identification procedures. Those procedures require trading platforms to ensure customers provide 100 points of identification to be registered as a user. Those KYC procedures enable trustees to identify the owner or controller of a cryptocurrency account.
A trustees inquiries can range from:
Tracing cryptocurrency to a specific wallet address can be a relatively straightforward process. However, while securing (and realising) the cryptocurrency can be another challenge altogether, though it is often not insurmountable.
Securing cryptocurrency
The steps necessary to secure any cryptocurrency will depend on a range of factors, most particularly the manner in which the cryptocurrency is held and whether the bankrupt is assisting the trustee in their inquiries.
If the cryptocurrency is held on a cryptocurrency trading exchange, the trustee may direct the bankrupt to hand over details of any account passwords or private keys. A trustee should also write to all trading platforms within Australia to enquire whether any accounts are held in the bankrupts name, instruct them to freeze all such accounts and deliver up details of any access codes and passwords under the powers granted to trustees under the Bankruptcy Act 1966.
Trustees face greater difficulties where cryptocurrency is held in a software (or soft) wallet (such as Metamask), or offline in a hardware (or hard) wallet (such as a Ledger or Trezor). A hard wallet is a device the size of a small USB stick that stores the users private access keys.
Where cryptocurrency is stored on a hard wallet, securing the cryptocurrency requires the trustee to physically obtain the hard wallet device itself as well as the access password or pin. Alternatively, locating the seed recovery phrase to the hard wallet (a 12 or 24 random word passphrase) can be used to recover the cryptocurrency in the event the wallet device is misplaced or destroyed.
Hard wallets can, therefore, be easily concealable, and the assets held on them can very quickly be moved to another location or account. If a trustee suspects a bankrupt is seeking to hide cryptocurrency, swift and decisive action may be required to prevent the dissipation of those assets, including via the courts where necessary.
Search Warrant
Under section 130 of the Bankruptcy Act 1966, a trustee may, in some circumstances, apply to a Court for a warrant to search a premises in which they suspect there is property of the bankrupt or property connected with a bankrupts examinable affairs and, if any relevant property (such as a hard wallet) is located, seize that property or secure it against interference.
In order to succeed in an application of that nature, the trustee must satisfy the Court that there are reasonable grounds to issue a warrant.
Broadly, the trustee must adduce evidence to satisfy the Court that the issuing and execution of the warrant will:
What does this look like in practice?
Macpherson Kelley recently acted for a trustee who successfully applied to obtain a warrant to search a premises and seize property connected with cryptocurrency that the trustee believed was being concealed by the bankrupt.
In order to obtain that warrant, the trustee provided the Court with evidence, gathered from their inquiries, that showed the bankrupt was likely concealing cryptocurrency. That evidence included wallet addresses and the results of a tracing exercise that revealed the bankrupts assets has been transferred through various cryptocurrency wallets and was held in various cryptocurrencies including Ethereum and Ripple.
The trustee also provided evidence regarding how cryptocurrency is held and transferred, and demonstrated how hard wallet devices can be concealed to substantiate how issuing the warrant would assist the trustees investigations.
The Court ultimately accepted the trustees evidence and issued the warrant. The warrant then had to be executed with the assistance of the police and Principal Lawyer Daniel Wignall, who had experience in identifying any cryptocurrency wallets at the premises or other property that may be related to the bankrupts cryptocurrency trading activity.
On execution of that warrant, the trustee located and seized several hard wallet devices and other IT equipment. The trustee also seized other evidence that led to discovery of significant but previously undisclosed cryptocurrency accounts.
Execution of the warrant, and the evidence obtained as a result, advanced the trustees efforts to recover assets for the benefit of creditors and enabled further investigation into the bankrupts cryptocurrency trading activity.
Key take aways
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