The SEC v. Coinbase case has been transferred to Judge Katherine Polk Failla. The new judge presided over a separate cryptocurrency case involving Tether and Bitfinex. Less than 10 days after the SEC first filed claims, the judge presiding over the lawsuit between the SEC and Coinbase has been replaced. Coinbase and Binance, two of the major cryptocurrency exchanges, were sued by the cryptocurrency regulator. It has been alleged that top US exchange Coinbase ran an unregistered security offering. In order to operate its staking-as-a-service business. In the meanwhile, the cryptocurrency market showed surprisingly little negative reaction to the back-to-back lawsuits. Despite a protracted decrease in asset values after fears of a US regional financial crisis. Previous Crypto Exposure The SEC v. Coinbase case has been transferred to Judge Katherine Polk Failla, who ruled over a separate cryptocurrency case involving Tether and Bitfinex. However, according to MetaLawMan, the replacement of the Judge was not necessary. The new judge has apparently worked with crypto before, giving her some background knowledge in the field. Tweeted the MetaLawMan account: On the other hand, Binance, the largest cryptocurrency exchange, is being subjected to more regulation and new challenges. After being sued in the US and having its license refused in the Netherlands, the exchange is now being investigated by French authorities for “aggravated money laundering.” Binance CEO Changpeng Zhao dismissed the allegation as “FUD” and said that unannounced on-site inspections of regulated businesses are commonplace in France. Next, he emphasized that the same is true with other crypto trading platforms. Recommended For You: Binance Flexible Loan Announces the Delisting of PEPE as a Borrowable Asset

Baby Doge Coin price surged over 6% in the last 24 hours. BabyDoge trending on Twitter with over 1.3m tweets. Significant things are happening in the meme coin realm and cryptocurrency market while the industry faces major challenges from regulators. A popular meme token, Baby Doge Coin (BabyDoge), is trending over “Crypto Twitter” with a notable price rally. BabyDoge was inspired by its renowned counterpart, Dogecoin, which witnessed a remarkable 6% price surge today. This surge comes as the latest development in a series of positive trends that have propelled the token to new heights in recent weeks. At the time of writing, BabyDoge price had climbed about 5% to $0.000000001439 with a 24-hour trading volume of over $3 million, which soared about 26.5%. Baby Doge Coin surged by 6.5% in a week and has a market cap of over $217 million. In addition, the meme token RSI indicates that BABYDOGE is in an extremely overbought stage, which means it may have a correction in its price. Baby Doge Coin (BABYDOGE) Price Chart (Source: CoinGecko) Further, BABYDOGE recently made headlines with a “historic burn of 206 quadrillion tokens” valued at around 294 million. Despite the burn, there is still a sizable supply of 152 quadrillion BabyDoge tokens in use. The rise of BabyDoge resulted in its emergence as a prominent player in this flourishing landscape. Moreover, social media platforms have played a pivotal role in catapulting Baby Doge Coin’s popularity. Also, the recent surge in price reflects the community’s optimism and confidence in Baby Doge Coin’s long-term prospects. Recommended for you Baby Doge Coin (BABYDOGE) Price Prediction 2023

The firm cited problems from the crypto winter rather than regulatory concerns. Wyre restricted client withdrawals to 90%, however on January 13 they lifted the limit. After almost a decade in business, San Francisco’s Wyre, a cryptocurrency payments startup, has announced shutdown, citing the problems of the crypto winter rather than any strong “regulatory agency direction” in the U.S. On June 16th, the firm said it will be shutting down in order to “protect the best interest of our key stakeholders and customers.” The company stated: Struggling for a While By stating that interested parties may buy Wyre’s or its subsidiaries’ assets by contacting 88 Partners, Wyre’s team further hinted that the firm was selling its assets. Since September 2022, when the one-click checkout startup Bolt backed out of plans to acquire Wyre for $1.5 billion, the company has reportedly been in a tough phase. Juno, a provider of a fiat-to-crypto on-ramp solution, advised its clients to self-custody their crypto assets on January 4th, 2023, rather than leaving them on the Juno platform due to “uncertainty” surrounding its custodial partner Wyre. In a similar move the following day, MetaMask no longer supported Wyre’s crypto payment services. A few days later, Wyre restricted client withdrawals to 90%, however on January 13 they lifted the limit after receiving funding from an unnamed strategic partner. Wyre is the latest crypto and blockchain company to shut down as a consequence of the ongoing bear market. In May alone, the crypto winter caused the closure of several crypto fintech firms, in addition to mass layoffs.

BlackRock and Coinbase collaborate on a Bitcoin spot ETF application. Prior attempts for a Bitcoin spot ETF faced SEC rejection. BlackRock’s application may reshape the Bitcoin ETF landscape. In an audacious stride, BlackRock, the titan of global asset management, is on course to initiate a Bitcoin spot ETF. On Thursday, the firm formally lodged an application with the US SEC. This move follows rumors sparked by a CoinDesk report suggesting an imminent filing. Teaming up with Coinbase, the leading US crypto exchange, BlackRock is venturing to shape a novel financial product. With a staggering $9.5 trillion in assets as of Q1 2023, BlackRock’s bold moves in the financial sphere are not new. Moreover, as per reports, this ETF will utilize Coinbase Custody and its spot market data for pricing, while BNY Mellon safeguards the cash assets. Previous Collaborations and Potential Obstacles Ahead According to sources, BlackRock shook hands with Coinbase last August, allowing its Aladdin investment management platform users to own and trade in digital currencies. Consequently, this partnership provided BlackRock clients comprehensive access to Coinbase’s services, including trading, custody, prime brokerage, and reporting. However, the road to a spot in Bitcoin ETF has been fraught with difficulties. Despite the SEC giving the green light to four Bitcoin futures ETFs, no spot market ETF has yet seen the light of day. The concerns stem from potential fraud and manipulation of the unregulated and fragmented spot market. Besides the pushback from the SEC, previous attempts at a Bitcoin spot ETF have also met resistance. In June 2022, Grayscale, a leading asset manager, saw its application for a Bitcoin spot market ETF rejected by the SEC. The subsequent lawsuit saw Grayscale arguing that the risks associated with both spot and futures ETFs were equivalent. However, the SEC distinguished the regulated futures market from the unregulated spot market. On the contrary, as the world waits with bated breath, BlackRock’s application may prove to be a turning point in the landscape of Bitcoin ETFs.

ZachXBT received a lawsuit for his article published on June 2022. Jeffrey Huang claims that his reputation is been damaged. Earlier Today, Machi Big Brother (known as Jeffrey Huang), a web3 pseudonym filed a lawsuit against ZachXBT (known for Zachary), an internet on-chain sleuth. The reason for the lawsuit is defamation in an article written by Zachary on June 2022. However, the lawsuit claimed from the U.S. District Court for the Western District of Texas, as a plaintiff by Jeffrey Huang and the as a defendant for Zachary. Jeffrey Huang mentioned that Zachary has defamed him and his article is false. The attorneys of the plaintiff raised a complaint of allegations and the malicious promotion of their plaintiff. Jeffery deteriorated and his reputation is been damaged, he added. What Did ZachXBT Reply? ZachXBT wrote on his Twitter that this lawsuit seems baseless and adds ‘I intend to fight back & defend free speech.’ He has disclosed a copy of his article for the public’s reading and consideration. The address on which he created the donation with legal costs is around $1M USD. ZachXBT adds his donation wallet address which is ETH: 0x6eA158145907a1fAc74016087611913A96d96624 where ‘all the EVM chains are accepted and stablecoins are preferred’. However, ZachXBT assures that the leftover funds from the donation will be transferred to the investors on a pro-rata basis. Additionally, he feels bad that this was expected as people would dislike certain things. Alongside, he adds that his historical record would speak rather than anything else. Disclaimer: The opinions expressed in this article are solely those of the writer and not of this platform. The data in the article is based on reports that we do not warrant, endorse, or assume liability for.

Ukrainian regulators have announced their plans to raise taxes on crypto gains. The draft law makes it possible to work according to EU rules. Ukrainian regulators have announced their plans to raise taxes on crypto gains starting in 2024. Both individuals and businesses involved in cryptocurrency transactions would be subject to an 18% tax on their profits under the proposed plan. The National Commission for Securities and the Stock Market plans to charge a flat-rate tax of 18% on revenue from cryptocurrency investments. The announcement sparked mixed responses from the Ukrainian crypto community. Moreover, military service will be subject to a tax rate of 1.5%. Ukraine’s Efforts to Establish Regulations for Crypto According to the report, the National Commission for Securities and the Stock Market will present the draft law to parliament during the next session. Moreover, the crypto exchanges and brokerages operating in Ukraine need to get operating permits from the commission under the drafted law. The Ukrainian Commission wants to develop itself and the Central Bank with regulations over the crypto sector. This move follows Ukraine’s recent effort to align its crypto regulations with the European Union’s Markets in Crypto-Assets (MiCA) legislation. Yuriy Boyko, the commission member, stated Moreover, Boyko added that the draft law makes it possible to work according to EU rules. If an exchange or a crypto trader wants to operate in the market, they must comply with these rules. The proposed tax rate of 18% on crypto gains signals the government’s intention to regulate the crypto market within the country. Moreover, this decision highlights Ukraine’s initiatives to adapt to the shifting financial landscape and make sure the nation gains from the rising popularity of digital assets.

The recent update from Quant resulted in a massive surge in its trading price. QNT rocketed to the top of the list of top performers on the crypto market. The crypto market experienced a downtrend after the SEC continuously filed charges against the leading crypto exchanges. However, the cryptocurrency Quant (QNT) has shown an extraordinary surge in its trading price. The sudden price surge captured the attention of investors in the crypto market. On June 16, Quant, the London-based blockchain solutions provider, announced its partnership with the Bank of England and the Bank for International Settlements (BIS) in their joint venture, the Rosalind project. The project Rosalind aims to build API prototypes for retail CBDC ecosystem innovation. Quant’s Update Sparks the Trading Price Project Rosalind, directed by the BIS Innovation Hub London Centre, has been experimenting with APIs that may help with retail payments in CBDCs. It enables the exploration of innovative CBDC use cases. Another significant result was innovation through use case exploration, which examined CBDCs may serve a future economy that is more digitalized. The recent update from Quant resulted in a massive surge in its trading price. QNT has witnessed an increase of 15.53% in the last 24 hours. The significant surge in the trading price of QNT suggests that the recent update has resonated positively with the crypto market. Moreover, with the substantial increase, QNT rocketed to the top of the list of top performers in the crypto market. At the time of writing, the trading price of the Quant is around $112.38, with an increase of 15.53% in the last 24 hours. Moreover, the trading volume has witnessed a massive increase of 316%, according to CoinMarketCap.

Binance delists PEPE, signaling a strategic asset management shift. PEPE loans need clearing before June 21, 2023, to avoid liquidation. Same-crypto repayment policy upheld, emphasizing the platform’s currency stability. In a notable shift, Binance has opted to delist PEPE as a borrowable asset. Consequently, this change in Binance’s Flexible Loan offerings signals an intriguing shift in the platform’s asset management strategy. As per Binance’s announcement, this strategic decision will culminate on June 21, 2023, at 08:00 (UTC). Hence, users currently with outstanding PEPE loans are now on the clock as they must settle their unpaid loan positions before the deadline mentioned above. Moreover, Binance has clarified that failure to repay in time will result in potential liquidation. Specifically, a 2% liquidation fee will apply to those affected. Besides the liquidation fee, this recent development underlines a dynamic shift in Binance’s loan offering. Additionally, the platform continues to rely on its flexible loan FAQ and Terms and Conditions to provide comprehensive information about this process. Binance Insists on Same-Crypto Repayments Significantly, Binance Flexible Loan’s repayment policy remains unchanged. It continues to mandate repayments in the same cryptocurrency initially borrowed by the user. Thus, any borrower who initially took out a loan in PEPE must also return it in PEPE. This policy is designed to maintain the platform’s currency stability, even amidst these alterations. Consequently, users with PEPE loans must make a note of this upcoming deadline. Additionally, they must take proactive steps to ensure their loans are cleared on time to avoid any potential liquidation. In conclusion, Binance’s delisting of PEPE as a borrowable asset is a reflection of the evolving dynamics within the crypto lending world. As this landscape continues to grow, it’s critical for users to stay abreast of changes to protect their investments.

The director of SEC enforcement action denies the crypto criticism. After SEC’s action against Coinbase and Binance, the crypto market has fallen down. As per the Reuters, it is said the United States Securities and Exchange Commission (U.S. SEC) has refused the crypto breakdown criticism and condemned the securities laws which are breached, on Friday. In New York, Gubir Grewal, the chief director of SEC enforcement stated that this criticism is imposed as the failure of crypto firms are scrutinized without following the regulations. He also added: It is noted that the Securities Exchange Commission claimed that the scrutinized crypto firms are unregistered securities with illegal brokerage and exchanges. Reason Behind The Criticism Crypto companies such as Coinbase and Binance have been sued due to their activities of holding unregistered securities laws. Correspondingly, the crypto market has fallen due to SEC’s action against the crypto exchanges. However, these firms proclaimed that these allegations are contradicting and they are not acceptable with the new rulemaking processes. Also, the crypto firms claim that the SEC sets inappropriate regulations and prefers new rulemaking policies often. Grewal said at an event, Furthermore, the crypto firms bring forth a constraint that the SEC is becoming unwilling to cooperate with the crypto industry. Additionally, it connects that once the FTX collapse occurred, the Securities Exchange Commission kept hardening the rules and regulations for cracking the whole crypto market. Currently, the global crypto market is increased by 2.04% compared to the last 24 hours. And, it is expected that the crypto market needs stability as the majority of crypto investors support Binance and Coinbase although it got sued by the SEC. Recommended For You: SEC Puts Crypto in Crosshairs: Decoding The Crypto Wars Escalation

IVG Capital is proud to announce the introduction of its new facility for trading Cryptocurrencies with leverage. IVG Capital is the trading name for IVG Partners Group Ltd, authorised under IBC No. 2023-00063. The company provides a wide range of financial instruments to traders in CFDs, such as forex, commodities, oil, pure metal, and indices. IVG Capital is committed to client satisfaction, which is why it is introducing the latest offering that will revolutionize Crypto trading. The company’s Crypto offering provides traders with a seamless and simple trading process that offers leverage trading up to 100x. It is available on the leading Cryptocurrencies, including Bitcoin, Etheruem, Litecoin, and more. The CEO of IVG Capital, John Doe, expressed his delight on the company’s new product stating, “We are proud to introduce this new Crypto offering, which will deliver an unrivaled user experience to our clients. As always, we are committed to providing top-notch trading solutions that meet our clients’ needs. Our new Crypto offering complements our existing trading solutions, and traders can now diversify their portfolio by trading on Cryptocurrencies.” The IVG Capital Crypto trading platform features an intuitive user interface and is built on a robust infrastructure that delivers fast execution, despite market volatility. The platform is accompanied by comprehensive educational resources that traders can use to learn more about trading Cryptocurrencies and leverage trading. IVG Capital provides a safe and secure trading environment for its clients. It is a pure STP brokerage with no dealing desk. Ensuring that clients can trade in a conflict-free environment, with spreads starting from as low as 0.5 pips. Leverage trading is a powerful tool that offers traders the possibility of gaining significant profits, even with small amounts of capital. However, traders must exercise caution when deploying leveraged trading. Therefore, IVG Capital has implemented a range of risk management tools such as stop-loss and take-profit orders to help guide traders in managing their risk exposure. IVG Capital’s platform is available 24/7, and traders can access its Crypto trading platform with ease. The registration process is straightforward as traders can complete it within minutes and start trading immediately. IVG Capital is a global financial services provider that prides itself on offering clients unparalleled support. The company’s support staff is available 24/7 to assist with account setup, inquiries, and technical support. IVG Capital believes in putting its clients first, and as such, its support team is incredibly responsive and attentive, ensuring that clients’ concerns are addressed immediately. In summary, IVG Capital is proud to introduce its latest offering, the Crypto trading platform with leverage trading up to 100x. This new product is in line with the company’s commitment to providing traders with sophisticated trading solutions that are both simple and suitable for all levels of traders. Clients looking to diversify their portfolio can take advantage of this new offering and trade Cryptocurrencies with ease. IVG Capital’s Crypto trading solution is accompanied by educational resources and offers traders a conflict-free environment. The platform is accessible 24/7 with excellent support. For more information about IVG Capital’s Crypto offering, please visit their website https://www.ivgcapital.com Contact Name: James Freedman Email: [email protected] SOURCE: IVG Capital Disclaimer : This post was authored by an external contributor and does not represent TheNewsCrypto’s opinions. This content is for informational purposes only and not intended to be investing advice.

Shytoshi Kusama has announced the upcoming update for the SHIB metaverse. Shiba Inu holders can now register for VIP Metaverse access. Shytoshi Kusama, the creator of the popular memecoin, has announced the upcoming update for the SHIB metaverse. The announcement sparked excitement in the Shiba Inu community. Shytoshi Kusama stated that something physical is coming very soon. Investors thus anticipate some major releases from Shiba Inu coming very soon. While the physical update remains a mystery, the anticipation for it is high around the SHIB community. Moreover, the update mentioned that the holders of SHIB, BONE, LEASE, and other Shiba Inu tokens will now have a chance to claim the rewards and register for VIP metaverse access. The anticipation for the upcoming update results in a surge in the Shiba Inu trading price. At the time of writing, the trading price of the Shiba Inu is around $0.000006814, with an increase of 1.17% in the last 24 hours. Moreover, the trading volume of the SHIB has witnessed a decrease of 21.78%, according to CoinMarketCap.

Jump. trade’s significant growth exemplifies the rising popularity of NFTs. Increased user base across platforms indicates mainstream acceptance of NFTs. In the relentless and dynamic world of NFT marketplaces, claiming a position of dominance is a remarkable achievement. Significantly, one platform that has spectacularly outpaced its rivals is Jump.trade. Indeed, this platform has carved out a strong niche and ascended to the top, demonstrating staggering user growth. Founded by Kameshwaran Elangovan, Jump. trade’s recent leap to the peak of CryptoRank’s ‘Top 10 NFT Marketplaces by User Growth’ chart is an accomplishment beyond words. In this ranking, Jump.trade recorded an incredible surge of 721% in user growth. Undeniably, this feat testifies to the platform’s growing popularity and commitment to continuous innovation. However, it isn’t merely technology and foresight that have thrust Jump.trade into the limelight. Behind this success is a community of dedicated individuals who have poured their hearts and soul into this enterprise. Hence, Elangovan’s post expressed heartfelt gratitude towards this resilient community, highlighting its significant role in reaching this notable milestone. The Underdogs Outperform Moreover, the second position was not too far behind in growth. Manifold, the marketplace known for its wide-ranging digital art collection, witnessed a 568% user growth, reaching a hefty count of 66.6K users. The platform is significantly changing the landscape of NFT trading with its unique offerings. Based on Cryptrank’s data, the third spot was further grabbed by NFPrompt, displaying a commendable 200% increase. Additionally, Element saw a decent 180% growth, while OpneBisea experienced a 136% rise in its user base. Both platforms served as a testament to the rapid growth of NFT trading platforms, regardless of their size or popularity. Furthermore, this race included other platforms like NeftyBlocks, Unick, NFTHive, Rarible, and BitKeep NFT Market. These platforms saw an increase in their users between 7.22% and 61.3%, respectively. This consistent upward trajectory among all top ten platforms depicts digital asset enthusiasts’ burgeoning interest in NFTs. Overall, the market’s dynamism presents new and exciting opportunities for traders and investors. It is evident that NFTs are no longer a niche market but are making significant strides in mainstream acceptance. As we witness this wave of growth, the question remains, “Which NFT marketplace will take the lead next?”

The BOE and the Bank for International Settlements (BIS) collaborated on a project. The Bank of England’s first results provide credence to the institution’s decision. After a year-long examination, the Bank of England (BOE) has come to the conclusion that blockchain technology might enable a “diverse range” of new monetary applications, bringing the BOE one step closer to introducing its own digital currency. The BOE and the Bank for International Settlements (BIS) collaborated on a project called Rosalind to investigate the viability and possible advantages of a CBDC. Moreover, the BIS recently issued a paper detailing the results of the first stage of the trial, which found that a CBDC might facilitate faster and easier P2P payments, allow for the development of novel financial products, and minimize fraud. The term “programmability” may likewise be used to currency as a result. Banking on Project Rosalind Furthermore, the Bank of England’s (BOE) first results provide credence to the institution’s decision to introduce its own CBDC, colloquially dubbed “Britcoin.” The BOE has signaled that a CBDC will be required at some point. With the UK Treasury’s approval, the decision will go forward when the technological consultation concludes at the end of June. In response to those who worry that central banks and governments may have too much access to personal financial data via CBDCs, Verdian claimed that such fears are unfounded, pointing to the success of Project Rosalind as proof. The head of the BIS Innovation Hub in London, Francesca Hopwood Road, believes that Rosalind will have a major impact on the future of CBDC in retail. The Bank of England has taken heat for pushing towards a digital version of the pound without providing sufficient justification for doing so. Lord Mervyn King, a former governor of the Bank of England, called it a “solution without a problem.” Prior to Project Rosalind, Verdian observed that conversations on digital currencies tended to focus on theory and policy. CBDCs are not new; several have been tried elsewhere, with mixed results.

SEC intensifies actions against major US crypto exchanges. Coinbase argues crypto tokens shed securities status on the platform. SEC to follow Congress directives on crypto regulation. In a surprising twist of events, the Securities and Exchange Commission (SEC) has stepped up its game against major crypto exchanges in the U.S. After years of encouraging registration, the regulatory body is now throwing down the gauntlet. However, this is targeting the key players offering unregistered crypto trading to retail investors. From the SEC’s viewpoint, most crypto tokens qualify as securities. Hence, companies wanting to trade these tokens must register with the SEC. They may act as an exchange, broker-dealer, or clearing agency. A Crucial Tug of War Between Innovation and Regulation At first glance, the SEC avoided litigation to protect the U.S. crypto industry and its investors. However, their recent actions suggest an underlying belief that compliance with the Securities Exchange Act might be an insurmountable challenge for crypto intermediaries. In light of this, the SEC has adopted a more direct strategy. As per reports, they aim to limit retail crypto trading by targeting exchanges instead of individually identifying unregistered tokens or vaporware projects. Albeit regretful, this move is designed to prevent future violations and another FTX-like incident. While this approach may stifle innovation, the SEC believes it’s necessary for the greater good. In response, Coinbase presents an intriguing argument. It posits that although crypto tokens may have originated from a securities offering, they become mere utility instruments on Coinbase’s platform, shedding their securities status. Whether this argument holds water in court remains to be seen. Future of Crypto Regulation is in the Balance According to news, SEC Chairman Gensler asserts that the SEC would adhere to any clear directives from Congress concerning crypto oversight. Specifically, if Congress stated the SEC had no jurisdiction over crypto or implemented cryptocurrency-specific laws, the SEC would comply accordingly. Meanwhile, without clear instruction from Congress, the SEC is obligated to apply the existing Howey test framework to tokens and crypto perceived as securities. Contrarily, Crypto exchanges, and other defendants may need to bide their time. Moreover, it is hoping for Congress to establish new regulations or offer a compliance roadmap. The crypto wars have indeed escalated, and as they continue, we must keep a keen eye on these unfolding developments.

Bakkt decided to delist three cryptocurrencies due to regulatory uncertainties. Robinhood was the first exchange to say it would stop supporting all three cryptocurrencies. Following the United States Securities and Exchange Commission’s (SEC) designation of several cryptocurrencies as investment contracts earlier this week, digital currency trading platform Bakkt Inc will delist Cardano (ADA), Solana (SOL), and Polygon (MATIC). The crypto exchange based in Georgia, USA, decided to delist three cryptocurrencies due to regulatory uncertainties. Marc D’Annunzio, the company’s general counsel, told that this move was being made “until there is further clarity on how to compliantly offer a more extensive list of coins.” Concerns Over Liquidity Rises Due to the SEC’s lawsuit against Bittrex, Bakkt, which is known to offer fewer digital currencies than the industry standard, delisted Algorand (ALGO) and Decentraland (MANA) a few months ago. Bakkt has decided to err on the side of caution in light of the increasing scope of industry crackdowns and to efficiently handle the limited number of assets present on its platform. Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), USD Coin (USDC), and Shiba Inu (SHIB) are the only cryptocurrencies that may be traded on Bakkt at the moment. Delisting of the designated digital currencies by the SEC is quickly becoming a significant trend, and experts in the field have raised concerns that this may reduce the liquidity of the tokens in question. Robinhood was the first exchange to say it would stop supporting all three cryptocurrencies. Its delisting cannot be considered less damaging than Bakkt’s since, unlike Bakkt, it allowed users the ability to trade the three impacted tokens until the 27 of this month. Following Robinhood’s lead, eToro said that its American clients would no longer be able to trade in any of the three cryptocurrencies until further clarification was provided by regulators. As the trend of delisting grows, experts in the field are curious as to which service will be the next to follow suit. Recommended For You: Robinhood Delists Solana (SOL), Polygon (MATIC) and Cardano (ADA)

Lucie discussed @shibcals, the real-world part of the Shiba Inu ecosphere. Shytoshi Kusama, lead dev of the Shiba Inu hinted recently of something physical coming. Twitter user @LucieSHIB, a content marketer for the Shiba Inu ecosystem, has posted a long teaser for a forthcoming SHIB feature dubbed the IRL component to the SHIB army. She spoke on the enormous potential that the actual world has for SHIB’s physical integration, going “beyond the digital realm.” Lucie discussed @shibcals, the real-world part of the Shiba Inu ecosphere. She believes this will connect the SHIB community in the virtual world with those in the real world via shared experiences. SHIB Army Excited Over Physical Connection According to Lucie, the IRL aspect will facilitate “exciting collaborations with brands, influencers, and organizations” that further the goals and ideals of SHIB. The SHIB community may also get together for conferences, meetings, and other gatherings where members may mingle with other Shiba enthusiasts and users. Lucie also said on Twitter that @shibcals may be used to create resin and vinyl toys, headphones, chess and checker sets, plush animals, and more. Shytoshi Kusama, lead dev of the Shiba Inu, recently shared a mysterious video on Twitter with the interesting caption, “Something physical is coming.” After a brief moment of blackness, the Shiba Inu emblem appears in close-up and the video begins. In an instant, the logo compresses and brightens to full visibility. The logo fades to a crisp white as it disappears. The logo, which is normally white, becomes black at regular intervals throughout the fade, creating a tense visual pattern. At the video’s conclusion, the logo transforms into a message reading, “Something physical is coming.” In the final image, the Shiba Inu emblem is shown in black and white next to the full sentence. The memecoin has been trading in the red for quite some time now and the community is eagerly awaiting any exciting updates. At the time of writing the price of SHIB is up 2.33% and it trading at $0.000006725 as per data from CMC.

Binance is being investigated for illegal aggravated money laundering and client solicitation. According to CZ, numerous cryptocurrency exchanges in Paris were also investigated. Binance, the biggest cryptocurrency exchange in the world, is now experiencing regulatory uncertainties and legal problems on a global scale. Lately, the Paris prosecutor’s office has allegedly opened an inquiry into the cryptocurrency exchange, prompting a response from the exchange. The Paris prosecutor’s office has announced that Binance is being investigated for illegal aggravated money laundering and client solicitation. The largest cryptocurrency exchanges have reported that officials from the French government have visited their facilities. Binance said that the appropriate French authorities visited their offices last week. It seems the cryptocurrency trading platform cooperated with regulators and did everything by the book. It was also noted that to maintain quality standards, their staff will collaborate closely with French authorities. Referred Rumor as FUD The world’s biggest cryptocurrency exchange has said that they are unable to comment more on the investigation that is currently being carried out by legal authorities at this time. Nevertheless, it emphasized that any requested access to the personal information of its customers will be allowed. The Chief Executive Officer of Binance, Changpeng Zhao, referred to the rumor as “FUD” and said that unannounced on-site inspections of regulated businesses in France are considered to be regular procedures. After that, he made it clear that this is equally applicable to platforms for trading cryptocurrencies as well. He said that a few weeks ago, Binance France was the beneficiary of an unexpected in-person visit and that the interaction was more than accommodating. According to CZ, numerous large cryptocurrency exchanges in Paris were investigated throughout the last week as well. Recommended For You: Binance is Under Money Laundering Probe by French Authorities

KuCoin (KCS) is currently consolidating within a Descending Channel Pattern Price action analysis suggests the possibility of a breakout above the 7.460 level KuCoin (KCS) has been experiencing a downtrend since April 2022, but recent price movements suggest the possibility of a breakout. Despite the overall downward trend, KCSUSDT has shown temporary reversals and consolidation phases, indicating potential bullish momentum. More so, the breakout above the current consolidation level could lead to a target price of 12.336, with a suggested stop loss at 6.530 to manage risk. KCS Price Analysis: Current Consolidation and Descending Channel Pattern KCSUSDT is currently consolidating within a Descending Channel Pattern, indicating a period of reassessment by market participants. KCS Price Chart (Source: TradingView) Moreover, the price is approaching a previous low associated with bullish momentum observed in mid-November 2022. This consolidation phase suggests increased trading activity as traders analyze the market dynamics. KCS Price Analysis: Expectations of a Breakout Price action analysis suggests the possibility of a breakout above the 7.460 level. If this breakout occurs, it could trigger a significant price surge in KCSUSDT. Traders can anticipate a target price of 12.336, which may be reached within a maximum of three weeks following the breakout. It is important to note that the timeframe for reaching the target price may vary depending on market conditions and subsequent price movements. To manage risk effectively, it is advisable to set a stop loss at 6.530. This ensures a balanced risk-reward ratio throughout the trading period and helps protect against unexpected price fluctuations. Traders should closely monitor the market and adjust their strategies accordingly to capitalize on potential opportunities arising from the anticipated breakout. All-in-all, the KuCoin has shown signs of bullish momentum and a potential breakout in the short-term outlook. The current consolidation within a Descending Channel Pattern indicates increased trading activity and market reassessment. Furthermore, traders can consider a breakout above 7.460 as a potential trigger for a significant price surge, with a target price of 12.336. Implementing a stop loss at 6.530 is advisable to manage risk effectively. By closely monitoring the market and adjusting strategies accordingly, traders can make informed decisions. In order to capitalize on potential opportunities presented by the anticipated breakout.

BCCI restricts crypto and certain platforms for sponsoring cricket teams. Crypto market fall might continue following this crypto barring by BCCI. For the upcoming National Cricket Team’s sponsorship, the Board of Control for Cricket in India (BCCI) has banned certain platforms for its lead. Such platforms include cryptocurrency, betting platforms, tobacco, real-money gaming, and other alcohol brands. For a couple of years, the BCCI has barred crypto sponsorships. Back in 2021, the reports states that the BCCI has asked the Indian Premier League (IPL) teams and media partners to avoid sponsorships from any of the crypto firms. As of today, the BCCI has restricted the tender for the fore-mentioned categories including athleisure wear. The recent press release from the BCCI noted that the tender applications will be considered from platforms like BYJUS, an Ed-Tech which has already participated. Reason Behind The Crypto Barring According to Jay Shah, the Secretary of BCCI, Meanwhile, the prolonged hitch of crypto acceptance keeps continuing since the government isn’t willing to promote crypto investments. Apparently, the alcohol prohibition is never surprising yet the crypto add-on stunts the crypto enthusiasts. Over the last week, the global crypto market is under fall and the crypto firms are struggling on one side. However, this gets added up just like fire fuel. The BCCI authorities opt to consider barring crypto as the FTX and Vauld faced a sudden downfall. Though the Reserve Bank of India prefers to face a concerted strategy on crypto, this decision from the BCCI turns controversial. Hence, the crypto startups stood with pressures geared up for them as the challenges came up. On the other hand, the crypto industry is trembling with a bearish market and after days, the current global crypto market is slightly high by 2.22% comparatively. Recommended For You: Indian Banks Encouraged to Adopt AI and Blockchain for Future

PIMCO to pay a fine of $9 million for disclosure of policy and procedure violations. The investment management firm has agreed to pay a combined fine of $9 million. The U.S. Securities and Exchange Commission has continuously taken action against the rapidly evolving crypto industry. Recently, the SEC’s lawsuit against the leading crypto exchanges raised the question among the crypto community of whether the SEC had decided to put an end to the crypto industry in the United States. The SEC’s intensified crackdown on crypto exchanges had an impact on the crypto industry. In the past, the SEC has encouraged industry participants to register their operations, urging compliance and regulation. However, in recent days, the SEC has been totally against the crypto industry. SEC’s Shift Towards Stock Market Sector After filing a lawsuit against the major players in the crypto industry, the SEC is now set to target the stock market sector. Pacific Investment and Management Company (PIMCO) was ordered to pay the SEC $9 million to settle two enforcement actions. On June 16, the SEC ordered PIMCO to pay a fine of $9 million. It is for disclosure of policy and procedure violations involving two funds. In the first enforcement action, the SEC found that from September 2014 to August 2016, the investment management firm PIMCO failed to disclose material information to investors, regarding the use by one of its funds of interest rate swaps and the impact they had on the fund’s dividend. In the second enforcement action, it found that PIMCO failed to waive about $27 million in advisory fees between April 2011 and November 2017. As required by its agreement with the PIMCO All Asset All Authority Fund. PIMCO did not admit or deny the SEC’s findings. Moreover, the investment management firm has agreed to pay a combined fine of $9 million for the two enforcement actions. The SEC continues to identify unregistered tokens or fraudulent vaporware projects one by one. Moreover, it seems to have lost patience and decided that the simpler path is to go after the exchanges and limit retail crypto trading. On the other hand, BRICS nations started implementing crypto adoption.