- Ex-Genesis CEO Michael Moro to Head Crypto Derivatives Exchange Startup
Michael Moro, the former CEO of Genesis Trading, is taking the helm of a new cryptocurrency derivatives exchange called Ankex, which was incubated within crypto custody tech firm Qredo.
Ankex, which enters alpha testing this week, will begin with perpetual futures contracts in markets outside the U.S. The platform will allow users to keep custody of their assets in a decentralized manner while providing elements familiar to professional traders such as a central limit order book.
Following the collapse of FTX and other centralized crypto-trading platforms, a knee-jerk reaction was to espouse the benefits of decentralized finance (DeFi). But the trading experience in DeFi is not ideal for many institutions, who are used to a low latency, high speed matching environment, Moro said.
- Bitcoin-Friendly Damus Will Remain on Apple App Store—With ‘Core Feature’ Removed
Bitcoin-friendly social media app Damus has scored a partial win in its two-week battle to remain on tech giant Apple’s App Store.
Damus, a decentralized social media platform running on the Nostr protocol, was warned by Apple on June 13 that it faced expulsion from the App Store if it persisted in facilitating the acceptance of “zaps,” tips using Bitcoin’s Lightning Network, on content posts—circumventing Apple Pay.
In order to comply with Apple’s strict in-app purchase guidelines, Damus has been forced to make some concessions. While Damus users can still engage in zap transactions at the profile level, allowing for peer-to-peer transfers, the latest version of the app will no longer support zaps on posts, as Apple considered this feature akin to selling digital content.
- SEC Has No Jurisdiction Over Cryptos on Coinbase’s Platform, Exchange Claims in Response to Regulator’s Lawsuit
U.S. crypto exchange Coinbase claimed that digital assets listed on its platform fall outside the U.S. Securities and Exchange Commission’s (SEC) purview in its first legal response to the regulator’s lawsuit.
The SEC sued Coinbase at the beginning of June, alleging that a dozen of the cryptocurrencies offered through its wallet or trading platforms were unregistered securities. In its answer, filed early Thursday, Coinbase claimed that these cryptos are not investment contracts and therefore are not securities.
It’s an argument Coinbase has advanced before in public statements like tweets and blog posts, but Thursday’s filing goes into further detail explaining the company’s position: cryptos on the exchange’s secondary market platform are not part of any arrangements where a promoter is selling an asset tied to a contract, the company claimed, basically spelling out the Supreme Court’s Howey case as an example.
https://www.binance.com/en/feed/post/712675
- Canadian committee proposes measures to support blockchain, crypto
Canadian lawmakers have shown their support for blockchain technology and cryptocurrencies in a report released by the Parliamentary Standing Committee on Industry and Technology (INDU) of the Canadian House of Commons.
The report which consists of 16 separate proposals, highlights the advantages and potential of blockchain technology in various sectors. As a result of the INDU’s deliberations, the committee made recommendations that they included in the reports for the consideration of the House of Commons or the government.
As part of the recommendations stated in the report, the Government of Canada should recognize blockchain as an emerging industry with significant long-term economic and job creation opportunities. It should prioritize protecting individuals’ right to self-custody and promoting safe and reliable access to digital assets.
https://cointelegraph.com/news/canadian-committee-proposes-measures-support-blockchain-crypto
- Biggest Movers: SHIB, MATIC Fall 5% Lower on Wednesday, Hitting 1-Week Low
Shiba inu (SHIB) fell by nearly 5% in today’s session, as traders reacted to several points of macro-economic news.
After surging to a peak of $0.000007668 on Tuesday, SHIB/USD dropped to an intraday bottom at $0.000007261 earlier in the day.
This drop saw bearish sentiment marginally increase, with short sellers now seemingly targeting a floor at $0.00000640.
Overall, SHIB has fallen for three of the last six days, pushing its relative strength index (RSI) to a current low at 41.89.
As a result of this, the index fell below a support point at 46.00, and now seems to be heading for a lower floor at 40.00.
Should it reach this point, there is a good chance that the meme coin will be trading under the $0.00000700 mark.
https://news.bitcoin.com/biggest-movers-shib-matic-fall-5-lower-on-wednesday-hitting-1-week-low/
- Binance Crypto Custody License Application Denied by German Regulator BaFin: Report
Germany’s financial watchdog has decided not to grant crypto exchange Binance a custody license, news publication Finance Forward reported on Thursday, citing people familiar with the matter.
The report added that it’s unclear if the denial was a formal decision from the Federal Financial Supervisory Authority (BaFin) or an intention expressed in ongoing discussions.
“While we are unable to share details of conversations with regulators, we continue to work to comply with BaFin‘s requirements. As expected, this is a detailed and ongoing process. We are confident that we have the right team and measures in place to continue our discussions with regulators in Germany,” a Binance spokesperson said in an emailed statement to CoinDesk.
- Binance Loses European Banking Partner Paysafe
Binance is on the lookout for a new European banking partner after Paysafe Payment Solutions, a global payment service provider that offers a range of payment solutions for businesses and consumers, announced that it would withdraw support for the crypto exchange.
“Following a strategic review, we have taken the decision to cease offering our embedded wallet solution to Binance across the EEA region,” Paysafe told Decrypt in an emailed statement. “Paysafe and Binance are now working to mutually implement an orderly and fair process to terminate this service over the next few months.”
Binance confirmed the development, saying that Paysafe will no longer be providing EUR deposits and withdrawals via Bank Transfer (SEPA) to Binance users from September 25, 2023.
https://decrypt.co/146681/binance-loses-european-banking-partner-paysafe
- North Carolina House Passes Bill to Commission Study on Holding Bitcoin
A bill that would see North Carolina’s Department of State Treasurer study the feasibility and benefits of the state holding Bitcoin (BTC) has passed the lower house of the General Assembly.
On June 28, the North Carolina House of Representatives passed the bill which would commission a $50,000 study to examine “acquiring, securely storing, insuring, and liquidating” both gold bullion and “virtual currency […] such as Bitcoin.”
The study would investigate what impact gold and cryptocurrency holdings would have if North Carolina held part of its funds in crypto and gold.
Specifically, it would research if such holdings would hedge against inflation and “systemic credit risks,” and if gold and crypto could reduce volatility, increasing the state’s portfolio returns.
https://www.binance.com/en/feed/post/712897
- Crypto debanking could drive industry underground: Australian Treasury
On June 28, the Australian Department of the Treasury published an official statement addressing potential policy responses to debanking in Australia. Debanking occurs when a bank declines to provide services to a customer, citing issues like Anti-Money Laundering (AML), sanctions compliance, reputational risk considerations and others, the authority noted.
According to the Treasury, there is a clear lack of data on debanking practices in Australia, which makes it challenging to devise effective policy responses. “The Government acknowledges the importance of insightful data to monitor any potential policy responses to de-banking,” the statement reads. The authority added:
“The Government recognises the seriousness of de-banking and understands that inaction on the issue will stifle competition and innovation in the financial services sector and may drive businesses underground and to operate exclusively in cash.”
https://cointelegraph.com/news/crypto-debanking-could-drive-industry-underground-australia-treasury
- Sharia-Compliant Islamic Coin Secures $200 Million in Funding From ABO Digital
Islamic coin, the “Sharia-compliant” digital asset, has secured $200 million from ABO Digital, the digital asset investment arm of the ABO group. The latest raise brings to $400 million the total funding the crypto project has received.
According to a press release, ABO Digital’s capital injection is expected to give crypto-asset access to funding of up to $200 million as well as to ensure that the coin “has a long and stable runway.” Remarking on ABO Digital’s decision to partner with Islamic Coin, Amine Nedjai, the CEO of the digital asset investment firm, said:
ABO Digital is thrilled to collaborate with Islamic Coin as an alternative finance provider. This ambitious project, supported by a stellar team, is revolutionizing the Shariah-compliant market by introducing digitization. We are honoured to have been selected as a partner.
