Binance ordered by Belgian regulator to suspend crypto services - cyptoranking.com

2024-04-24

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Investigators also recommended that the San Francisco Fed should have assigned a team to facilitate Silvergate’s transition into a regional bank much sooner. Regional banks are much larger than community banks, the type of financial institution Silvergate was prior to January 2022.Fight for assets begins as ETH futures ETFs debut Source: PixabayBinance has disclosed a collaboration between its Sanctions Investigation Team and Israel’s Ministry of Defense in a counterterrorism operation against Iranian and Hezbollah terrorist groups.A June 29 blog post revealed that this operation aims to track down terrorism financing operations linked to Islamic Revolutionary Guard Corp, Quds Force.This effort demonstrates Binance’s commitment to fostering security in the global crypto and blockchain ecosystem.Binance Sanctions Investigations Team Seize Millions of Dollars Linked to Iran’s Terrorist GroupAccording to the blog post, Binance collaborates with global law enforcement agencies and regulators to fight illicit cyber financial crime and repel bad actors. Through its collaboration with the Israeli defense ministry, Binance aided in seizeing millions of dollars in cryptocurrency stolen by Iran’s Quds Force for terrorism financing. The Binance Sanctions and Counter-Terrorist Financing Investigation team helped identify the terrorist and circumvent their operation.The crypto exchange noted that the team only targets sanctioned entities, not innocent cryptocurrency users. After the recent crackdown, Israel's National Bureau of Counter Terror Financing (NBCTF) and Israeli National Cybercrime Unit commended Binance’s team for contributing to the fight to preserve global security.Also, the Binance team said it is pleased with the successful crackdown against the Iranian Islamic Revolutionary Guard Corps-Quds Force funding. Fight Against Cybercrime and Crypto-related Terror Financing The current cryptocurrency landscape is particularly susceptible to bad actors who hijack innocent user funds for illicit activities.The crime could be partly due to the scanty regulations in the market. However, Binance noted that its team keenly monitors these illicit activities by identifying and flagging operations by sanctioned and suspicious accounts.Keeping the crypto market free from bad players is crucial to facilitating mainstream crypto adoption. According to Binance, “a critical element of keeping the crypto markets open across the globe is ensuring the markets remain clean and free of illicit actors.”This case wasn’t the Binance team's first time working with law enforcement agencies to fight financial crimes. The June 29 blog post revealed that the Binance Investigations team worked on over 47,000 cases with law enforcement agencies. The team disclosed that it has helped freeze and seize over $1 billion in illicit transactions and funds, with $900 million this year alone. To accelerate efforts in mitigating financial and cybercrimes, Binance created a coordinated training program dubbed Law Enforcement Training Program across the globe. The aim is to assist law enforcement agencies and prosecutors in detecting financial crimes and prosecuting bad actors.Cryptocurrency has become a preferred medium used by terrorist groups to launder illicit funds and finance their operations. This is mainly due to the anonymity offered by crypto transactions. A notable example is North Korea's Lazarus Group, a notorious cybercrime organization that steals user funds from crypto firms. So far, Lazarus Group has allegedly stolen billions of dollars in cryptocurrency from different protocols. Law enforcement in various jurisdictions, including the EU, are working to prevent terrorists and criminals from evading anti-money laundering laws using cryptocurrency.Andreessen Horowitz's Crypto Arm to Establish London Office – Next Crypto Hub? Binance ordered by Belgian regulator to suspend crypto servicesThe tweets allege these central players have disguised their pursuit of personal wealth as decentralized progress, selling out integrity for monetary gains. However, such inflammatory accusations remain subjective opinions rather than proven facts. After reaching an all-time high in daily transactions in September, the number of transactions on the Bitcoin network has experienced a sharp drop, revisiting levels not observed since hype took off surrounding Ordinals that can serve as either individual NFTs or fungible BRC-20 tokens.

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Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.Magazine: Blockchain detectives — Mt. Gox collapse saw birth of Chainalysis In February 2023, the standard was publicly proposed to the Ethereum community via an ‘improvement proposal’ (EIP 6551), with the first experiments starting in May. What is the largest cryptocurrency exchange company?Carrica describes a typical experience with stablecoin payments in Argentina. “Let’s say you’re a developer in Argentina,” Carrica explains. “You work for a company from Silicon Valley. You get your salary paid in crypto and you need to pay rent.” While the fate and timeline around US spot bitcoin ETFs remains opaque, the Securities and Exchange Commission appears to have given its blessing to ether futures funds.

The second Bitcoin price peak prediction comes from analyst @seth_fin. In his chart, he uses the famous Pi Cycle indicators – for both market peaks (red) and market lows (green). During Dogecoin’s early days, the community was focused on donating to good and fun causes. Dogecoins would be donated by the Dogecoin community for causes such as providing service dogs to children in need for $25,000, building water wells in Africa for $30,000, and compensating users affected by Dogecoin’s first hack for $13,000. Similarly, the Dogecoin community would donate Dogecoin for fun causes such as helping the Jamaican bobsled team reach the Sochi Winter Olympics for $36,000 and sponsoring a Nascar driver for $55,000. Top 10 Cryptocurrency 2022 -By September, the correlation had flipped to -0.5, indicating a contrast to the movements of the world’s foremost digital asset and traditional equities. The attacker began moving sums of ether (ETH) to new addresses starting on Sept. 30. The majority of these funds have since been used on the cross-blockchain liquidity protocol ThorSwap to exchange native ETH for native bitcoin (BTC).

Bitcoin or any other altcoins are not controlled by any government entities, hence it is decentralized. This makes the coin an independent asset. Transaction verification and impenetrable security are possible since Bitcoin was designed to function freely through a machine-driven ecosystem. Unlike the traditional financial banking system that is mandated by regulators, Bitcoin is strictly run by thousands of trustless nodes. In his interview with The Verge, Zuckerberg insisted that a lot of the work done on AI as part of Meta's products remained "pretty basic," but laid out how he envisioned AI's functionality becoming more adaptive to users over time. Mining Cryptocurrency using Arduino (DuinoCoin)The alert issued by this Binance-associated figure cautioned users against engaging with NFTs that featured CZ’s images and enticing reward giveaways. Scammers enticed users to connect their wallets to the scammer’s websites, promising substantial rewards. However, the outcome was disastrous, as users who fell for the scheme lost all their TrustWallet assets after unwittingly granting permission during the connection process. Solana’s TVL Hits Yearly Highs

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