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In a move aimed at strengthening its regulatory framework, the UAE Central Bank has released new guidelines for handling virtual assets, including cryptocurrencies and non-fungible tokens (NFTs). The guidance, announced on Wednesday, focuses on anti-money laundering (AML) and counter-terrorism financing (CTF) measures for financial institutions operating in the country. The #UAE Central Bank has announced new guidance for financial institutions regarding anti-money laundering and counter-terrorism financing measures when dealing with virtual assets, including #cryptocurrencies and #NFTs. #CoinEdition #CentralBank #Cryptocurrency — Coin Edition (@CoinEdition) May 31, 2023 The UAE Central Bank recognized the potential risks associated with virtual assets and virtual asset service providers. It emphasized the importance of due diligence for licensed financial institutions when dealing with customers and counterparties involved in such transactions. The new guidance i

Michael Kanovitz, a lawyer threatening to file a class action against Ben.eth, says the PSYOP scheme bear similarities to cases that have seen SEC enforcement. Ben.eth, the pseudo-anonymous memecoin creator behind at least three controversial token launches in recent weeks could fall under the crosshair of United States regulators, crypto lawyers suggest. A previously little-known personality in the crypto community, Ben.eth has seen his Twitter following blow up nearly five-fold in May. The influencer has launched at least three memecoins in recent weeks — Ben Coin (BEN), PSYOP, and LOYAL. Pre-sales of these memecoins — which require Ether (ETH) to be sent directly to the creator himself — have allowed Ben.eth to gather thousands of ETH. Currently, his wallet holds 10,946 ETH, equivalent to $20.8 million. The ETH balance of the ben.eth wallet is nearing $21 million worth. Source: Etherscan While Ben.eth’s supporters have defended the legitimacy of the token sales, others warn that

We are delighted to announce that @Marlowe_io has been audited both internally and externally by @tweagio, and is now available for developers to run on Cardano mainnet! advertisement Marlowe is a set of tools that enables the development, integration, and deployment of #smartcontracts on… https://t.co/M5dMygDf7J — Input Output (@InputOutputHK) May 30, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] Must Read Crypto Te

As of Monday, Richard Teng has assumed a new position in Binance that extends beyond his previous responsibilities overseeing Asia, Europe, the Middle East, and North Africa, as stated by a spokesperson from the company. Bloomberg reported that Binance has appointed Teng to lead its regional markets worldwide, excluding the United States. This promotion demonstrates the rapid and consistent rise of the executive, who became part of the largest cryptocurrency exchange globally less than two years ago. Binance taps Richard Teng to head all its regional markets outside of the US https://t.co/dVwdYnvNgL — Bloomberg (@business) May 29, 2023 Teng initially joined Binance in August 2021 as the Chief Executive Officer of Singapore and has swiftly advanced within the organization during a period of significant turbulence in the digital assets industry. His increased scope of responsibilities coincides with a challenging period for Binance, as it faces scrutiny from US authorit

The rise of play-to-earn games in the cryptocurrency industry has sparked a question: “Can crypto really provide a platform where people can play games and earn rewards?” This question gained significant attention, particularly with the emergence of Axie Infinity in 2020. Axie Infinity became a sensation among gamers and investors, offering the opportunity to earn substantial profits through its native token, AXS. The game’s success and the financial gains it brought to many individuals captured the attention of the crypto community. However, as time PR ogresses, the landscape of GameFi evolves. The days of Axie Infinity’s dominance have passed, and now a new memecoin is capturing the attention of crypto legends and gamers. That memecoin is Pikamoon. With its unique gameplay, immersive experience, and potential for financial rewards, Pikamoon aims to surpass the achievements of any previous play-to-earn game. As crypto legends shift their focus to Pikamoon, it is evident th

Cointelegraph Accelerator, Animoca Brands, Cipholio and Brinc will host a Demo Day to introduce seven promising Web3 projects to investors. As numerous Web3 events have reiterated since early 2022, bear markets are ideal times for building. Triggered by the Terra ecosystem crash in May 2022 and aptly named as “crypto winter” following the FTX collapse in November, the current bear market saw the crypto market cap shrinking from $3 trillion to below $1 trillion. While the year-long bear market tore off a good chunk of the market cap, it also presented an opportunity for new ideas to flourish as the industry’s focus shifted from price volatility to innovation . Unfazed by the market conditions, the Web3 ecosystem has continued to build around fresh concepts to prevent the same crashes from happening again and also to find new ways for users to interact with decentralized digital realities. Monthly active developer count since Bitcoin was launched compared to when Ethereum and its smart

Join Our Telegram channel to stay up to date on breaking news coverage Cardano’s price, since mid-April, has been on a downtrend, just as other cryptocurrencies have been. As such, most of altcoin’s recovery depends on broader market cues. Cardano (ADA), currently trading at $0.3577, a 0.06% decrease in the last 24 hours, hit a monthly low but is still far from its March low of $0.304. Cardano Tradingview One thing that has kept ADA from falling excessively is its high correlation with Bitcoin. However, it may seem likely that ADA has also found support from its investor base. Cardano whales have been highly active in the past week, with their transaction volume reaching a yearly high of $16 billion. Although their activity has increased since Q1 and throughout April, the sudden rise might be a bullish sign for the altcoin. Cardano’s Recovery Hinged on Its Investors Cardano’s performance is intrinsically linked to the overall conditions of the crypto market. Despite the dow

Join Our Telegram channel to stay up to date on breaking news coverage Ava Labs, the company behind Avalanche, a layer 1 blockchain, has recently launched AvaCloud. It will be a launchpad designed to assist businesses in constructing fully managed blockchain ecosystems without the need for coding.   AvaCloud will include four key components: an automated blockchain builder, managed validators, comprehensive data tools, and chain interoperability. Ava Labs’ AvaCloud To Help Build Custom Blockchains with Ease The automated block chain builder empowers companies with a no-code block chain portal, complemented by round-the-clock technical support and a dedicated infrastructure team. This facilitates efficient management of a customized network, as each block chain deployed through AvaCloud incorporates precompiled smart contracts that can be tailored to meet specific requirements. Managed validators offer automated installation and updates, while the comprehensive data tools

Also Read: Ripple Counsel Withdraws From Case; US SEC To Gain Upper Hand? advertisement Hinman Docs Is The Key In Ripple Lawsuit? Speaking at the event, Ripple CEO stated that in terms of where things stand today in the legal battle against the US SEC, he is confident of receiving a judgment this year. He added this might happen in weeks and not even months. Garlinghouse highlighted the recent court ruling where the judge declined the US SEC’s motion to redact certain information from the infamous Hinman Ethereum Speech. As Coingape reported, the court believes that the speech memos are Judicial documents and should go in public. However, the global crypto industry will have to wait to gain access to the Hinman speech docs as U.S. SEC and Ripple in a joint request asked the court for one week extension. The controversial speech linked memos are expected to be released on June 13th, 2023. Read More XRP News Here… Recommended Artic

At the start of the day, the bears had the upper hand in the Kava (KAVA) market, successfully lowering the price to a 24-hour low of $1.17 (support). After establishing support, the bulls swept the KAVA bears under the rug, sending the price to a 24-hour high of $1.27. The bullish momentum was strong, with bulls maintaining market control as of press time, resulting in a 0.24% increase to $1.20. KAVA’s market capitalization increased by 2.02% to $638,249,499 during the bull-bear battle, while 24-hour trading volume decreased by 9.57% to $178,190,221. This decrease in trading volume suggests that investors are cautious in the market, taking profits in anticipation of a reversal. KAVA/USD 24-hour price chart (source: CoinMarketCap) On the KAVA/USD price chart, the Aroon up reading is 50.00%, while the Aroon down reading is 7.14%, indicating that the bulls’ power is greater than the bears’, indicating a potential upward trend soon. However, because the Aroon level

The move comes as Reuters once again accused the world’s largest crypto exchange of commingling user funds in accounts held at Silvergate Bank. However, Binance executives completely denied the report claiming the story to be false and weak. Meanwhile, Binance CEO “CZ” completely ignored the report and kept him busy with Bitcoin Pizza Day. Also Read: Elon Musk Advises “Not To Bet The Farm On Crypto And Dogecoin” Ceffu Never Mix Customer Funds in Cold Wallets Binance’s institutional custody solution Ceffu took to Twitter to clarify its institutional clients that the custody platform operates on segregated account and wallet systems. Thus, clients’ assets deposited in cold wallets are never commingled. Ceffu goes on to explain how its off-exchange settlement solution Mirror is completely secure and safe. After i nstitutional clients lock their digital assets in Ceffu cold wallet, the wallet credits the amount of the digital assets to their Binance  exchange account at a 1:1 ratio