Firms – The Pro Coin

Is the Ukraine war intensifying regulatory pressure on crypto firms?

March 11, 2022March 14, 2022

[ad_1] Whose side are you on? The Ukraine-Russia war is forcing people to answer that question. For some in the crypto community, this can be uncomfortable because if an individual or project stands with the West against Russia, it also means it abides by sanctions. This can be tough to square with crypto/blockchain’s supposed decentralized system and its claims on being borderless, censorship-free and distributed. Take OpenSea, the NFT marketplace, which really isn’t a decentralized project but is often described as such. “OpenSea is a decentralized peer-to-peer marketplace for buying,…

Coinbase and 17 Other Crypto Firms Launch ‘Travel Rule Universal Solution Technology’ – Regulation Bitcoin News

February 17, 2022

[ad_1] On Wednesday, the publicly-listed cryptocurrency firm Coinbase announced the launch of a collaborative effort called TRUST, which stands for “Travel Rule Universal Solution Technology.” The plan is described as an “industry-driven solution” developed to comply with the Financial Action Task Force (FATF) Travel Rule. There are currently 18 crypto firms that have joined TRUST so far, and the collaborative effort is welcoming other companies to join the initiative. 18 VASPs Launch TRUST in Order to Comply With FATF’s Travel Rule For quite some time now, FATF’s Travel Rule has…

Oman Invites Bids From Firms Interested in Creating Regulatory Framework for Virtual Assets – Regulation Bitcoin News

January 25, 2022 sysadmin

[ad_1] Authorities in the Middle Eastern state of Oman have asked specialized companies, interested in helping the country set up a regulatory framework for virtual assets, to submit their proposals. Interested companies need to submit their proposals no later than March 23, 2022. Process Divided Into Two Phases The Oman financial regulator, the Capital Markets Authority (CMA), recently invited companies interested in helping it set up a regulatory framework for virtual assets to participate in a tender process. According to a report by Unlock Media, this process of creating the…

Auditing Firms Claim Crypto.com Lost $15 Million in Incident as Users Report Suspicious Activity – Bitcoin News

January 18, 2022 sysadmin

[ad_1] Crypto.com, a leading cryptocurrency exchange, experienced an incident on January 17 when some of its users reported strange activity in their accounts. The exchange acknowledged the event, and conducted an investigation immediately after, declaring that all funds were safe. However, reports from security and blockchain auditing firms Certik and Peckshield indicate that some funds were removed from exchange wallets. Crypto.com Suspends Withdrawals After Suspicious Activity Reported Crypto.com, a cryptocurrency exchange, suspended normal withdrawal operations after customers reported having experienced suspicious activity regarding their accounts. In its first…

Two firms account for the majority of Tether received: Report

November 12, 2021 sysadmin

[ad_1] Tether (USDT) has gone from being a renegade cryptocurrency to becoming the industry’s primary crutch during the last seven years, according to a new report. Essentially, USDT is a bridge between traditional currencies like the United States dollar and decentralized digital currencies operating on open blockchain networks. Independent crypto outlet Protos provided an in-depth insight into the most common stablecoin and the liquidity providers who supply it to cryptocurrency platforms. According to the report, issued USDT is primarily acquired by just two market makers. Between 2014 and October 2021, Alameda Research and…

Bank of Russia asks stock exchanges to not list crypto-related firms

July 22, 2021 sysadmin

[ad_1] As global cryptocurrency companies increasingly consider going public, the Russian central bank has officially recommended local exchanges to avoid crypto-related listings. The Bank of Russia issued an information letter on July 19, asking Russian stock exchanges to stay away from listings of foreign and local companies involved in a broad range of crypto services. The central bank elaborated that local exchanges should not list stocks issued by companies whose business relies on crypto market prices, including digital financial assets issued outside Russia, crypto-tracking indexes, as well as crypto derivatives…

UFC Partners With Crypto.com — Sources Say $175 Million Deal Is MMA Firm’s Largest Sponsorship – Bitcoin News

July 7, 2021 sysadmin

[ad_1] The cryptocurrency exchange Crypto.com has revealed the company has entered a partnership with Ultimate Fighting Championship (UFC) as the firm’s global fight kit partner. Reports stemming from people familiar with the matter say the partnership is a ten-year deal worth $175 million and the UFC’s largest sponsorship deal to date. UFC Names Crypto.com First-Ever Global Fight Kit Partner The digital currency firm Crypto.com has partnered with the UFC and will be the mixed martial arts (MMA) organization’s global fight kit partner. This means the Crypto.com brand will be featured…

Remittance firms hesitant to support BTC despite legal tender law in El Salvador

June 14, 2021 sysadmin

[ad_1] Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin and other crypto assets until prompted to do so by customer demand, likely creating a stalemate for the local payments industry. “For Western Union and some of the other remittance providers, keep in mind that most of the volume in the remittance industry is going from developed markets to…