Indonesia Approves List of 501 Legal Cryptocurrencies, Brazil Develops Regulatory Framework for Crypto Securities
June 18 (Cointime) - While the SEC's lawsuits against Binance and Coinbase have created uncertainty in the US crypto sector, other countries are clarifying the regulatory status of various crypto assets. The SEC's actions have caused major exchanges to halt USD deposits and remove tokens mentioned in the lawsuits.
Crypto Industry Experiences Regulatory Crackdowns and Hack Attempts, While Platforms Make Progress with New Licenses and Partnerships
June 18 (Cointime) - This week in the crypto industry, regulatory agencies are cracking down on top exchanges while hackers are targeting them. The Lazarus Group of North Korea has allegedly stolen over $100 million in crypto, adding to their list of cyber-attacks. Meanwhile, Polygon has partnered with Flipkart and Hang to launch an exclusive loyalty project focused on integrating Web3 and NFT technologies.
Binance CEO expresses relief as SEC dispute is resolved
June 18 (Cointime) - Binance CEO Changpeng Zhao expressed relief as the company's dispute with the SEC has been resolved, allowing him to focus on the future.
On-chain data monitoring platform Lookonchain: Institutions are accumulating $ARB. Offchain Labs has accumulated a value of $7.18 million worth of 7.22 million $ARB tokens from Binance across multiple addresses in the past 7 days.
Cointime news on June 18: According to on-chain data monitoring platform Lookonchain, institutions are accumulating $ARB. Offchain Labs has accumulated a total of 7.22 million $ARB, valued at $7.18 million, over the past 7 days through multiple addresses on Binance.
Binance CEO Expresses Relief as SEC Dispute Resolved and Agreement Reached
June 17 (Cointime) - Binance CEO Changpeng Zhao expressed relief that the dispute with the SEC has been resolved, allowing the company to focus on the future. The US District Court has approved the "Proposed Stipulation and Consent Order" agreed upon by Binance, Binance.US, and the SEC. The agreement requires Binance to repatriate all fiat currency and crypto assets related to Binance.US and limits access for Binance Global officials to ensure customer funds are independently managed and safeguarded. Despite regulatory obstacles, Binance remains committed to continuing operations and prioritizing the safety and security of user funds.
Chainlink Protocol Moves $111 Million Worth of LINK Tokens to Boost Usage of Oracles
June 17 (Cointime) - Chainlink is using its treasury to promote the use of its oracles by contributing LINK tokens. Recently, 21 million LINK tokens worth around $111 million were transferred from Chainlink's official wallets.
Binance Enables Further Adoption for Floki Inu Through Inclusion in Metaverse and Gaming Categories
June 17 (Cointime) - Binance, a major cryptocurrency exchange, has added Floki Inu to its Metaverse and Gaming categories, allowing millions of users to trade the meme coin alongside other prominent cryptocurrencies.
Binance and US SEC reach proposed agreement, pending federal judge approval
June 17 (Cointime) - Binance, the world's largest cryptocurrency exchange, and its subsidiary Binance.US have proposed an agreement with the US Securities and Exchange Commission (SEC), subject to approval from a federal judge. Under the proposed agreement, only Binance.US employees will be able to access customer funds on the US-based exchange, while Binance Global officials will be restricted from accessing private keys of all wallets, including cold and hot wallets, and Binance.US's internal systems and controls. The move comes after the judge asked the SEC and Binance.US to reach an agreement rather than approve a restraining order to freeze assets of Binance's US-based arm.
Crypto industry experiences $417M outflow, Binance diversifies, eToro halts purchases, and UK secures early access to AI models from Google DeepMind, OpenAI, and Anthropic
June 16 (Cointime) - The crypto industry has seen a $417 million outflow in the past eight weeks due to strict regulations and rising interest rates in the US, resulting in a prolonged crypto winter with trading halts and liquidity draining. Crypto companies are adapting their business strategies, with Binance launching a subscription-based cloud mining product for Bitcoin and Andreessen Horowitz opening its first office outside the US in London. CoinShares' latest report shows that cryptocurrency investment products have experienced outflows of $88 million last week, marking the eighth consecutive week of outflows totaling $417 million. Meanwhile, during a speech at London Tech Week, British Prime Minister Rishi Sunak announced that the UK has secured early access to AI models from Google DeepMind, OpenAI, and Anthropic, but it is unclear whether this commitment applies to the general public or only government and priority researchers.
SEC official defends cryptocurrency crackdown, accuses sector of violating securities laws
June 16 (Cointime) - The U.S. Securities and Exchange Commission (SEC) has faced criticism for its crackdown on the cryptocurrency industry, but enforcement director Gurbir Grewal defended the regulator's actions, citing the industry's failure to comply with regulations. The SEC has been targeting initial coin sales as unregistered securities offerings, as well as crypto firms acting as unregistered exchanges and broker-dealers. Binance and Coinbase, two of the world's largest crypto exchanges, were sued by the SEC last week for allegedly breaking its rules. The crypto sector has called for new rules, but Grewal questioned whether they would be effective in an industry built around noncompliance.
