News Headlines (29th November 2023)

Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory continuing to aim for new 18-month highs.

After matching current highs the day prior, the largest cryptocurrency surprised by keeping a grip on higher levels as futures markets hit $39,000.

Already a topic of debate, the excitement on derivatives led some to caution that large-volume traders could still leave late long positions stranded at the top.

In commentary overnight, Keith Alan, co-founder of monitoring resource Material Indicators, told traders to be wary of these “whale games.”

“Earlier today, some ask liquidity at $38k was pulled to open the door to $38.5k. Don’t allow yourself to think that was a friendly whale giving you boost. That was a Killer Whale trying to FOMO you in,” he wrote about the initial trip past $38,000.

A planned moon mission funded by dogecoin (DOGE) took a step closer to launch following a key regulatory approval from the National Telecommunications and Information Administration (NTIA), which forms a precursor to the final Federal Communications Commission (FCC) license.

The DOGE-1 satellite is being developed by space technology firm Geometric Energy Corporation, which announced the project in May 2021. The satellite will be launched aboard a SpaceX Falcon 9 rocket.*197pk60*_up*MQ..*_ga*OTE1ODIxMzgzLjE3MDEyNjA2ODk.*_ga_VM3STRYVN8*MTcwMTI2MDY4OC4xLjEuMTcwMTI2MDg3Ny4wLjAuMA..

MANILA, Nov 29 (Reuters) – The Philippines’ Securities and Exchange Commission has begun the process of blocking access to the world’s largest crypto exchange Binance, whose chief last week stepped down and pleaded guilty to breaking U.S. anti-money laundering laws.

The SEC said the operator of Binance was not a registered corporation in the Philippines, and was operating without the necessary licence and authority to sell or offer any form of securities.

The removal of access in the Philippines, the SEC said in a statement, will take effect within three months of the issuance of its advisory on Nov. 28 to give Filipino users time to pull out investments from the crypto exchange.

Circle, a U.S.-based payment services provider, and SBI Holdings, a financial services company with more than $160 billion in assets, have partnered to promote and facilitate the usage of USDC, a dollar-pegged stablecoin, in Japan.

The partnership, which involved signing a memorandum of understanding between the two companies, encompasses introducing and promoting USDC as a regulated stablecoin in Japan under the Revised Payment Services Act and the commitment to follow Japanese rules for the distribution and management of the stablecoin.

Binance announced its plans to cease supporting BUSD products and commence conversions to FDUSD starting December 15, 2023. The move follows the decision by Paxos, the issuer of BUSD, to halt the minting of new BUSD.

Despite this, BUSD holders have been assured by Paxos that the stablecoin will remain backed 1:1 by USD and can be redeemed through Paxos’ platform until at least February 2024.

From December 31st, 2023, customers will be unable to withdraw their BUSD. However, with exceptions in Japan, France, Italy, Poland, and Kazakhstan, any remaining BUSD balances will automatically convert to FDUSD at a 1:1 rate.

Cryptocurrency mining firm Phoenix Group is preparing for its public trading launch after seeing a significant oversubscription during the pre-market sale on Nov. 21.

Phoenix’s public trading launch will be delayed as the firm has revised the date for its forthcoming initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX).

According to an announcement on Nov. 28, the crypto mining firm expects to list its shares on Dec. 5 instead of Dec. 4, 2023, due to public holidays declared for the United Arab Emirates National Day.

Celebrated on Dec. 2, the UAE National Day commemorates the formation of the UAE. The Ministry of Human Resources and Emiratization marks Dec. 2, 3 and 4 as public holidays for the private sector.

The Philippines Securities and Exchange Commission is warning users in the country that it may soon block access to Binance as the exchange is operating without a license in the country.

In a notice, the regulator said that Binance is not authorized to sell or offer securities to the public.

The regulator also said Binance is actively promoting crypto trading to Filipinos on social media, an offense in the country that may have criminal liability for the promoter.*197pk60*_up*MQ..*_ga*OTE1ODIxMzgzLjE3MDEyNjA2ODk.*_ga_VM3STRYVN8*MTcwMTI2MDY4OC4xLjEuMTcwMTI2MDg3Ny4wLjAuMA..

Hut 8 is on track to complete its merger with US Bitcoin Corp this week.

This development is expected to initiate a new phase of geographic diversity and increased revenue streams for the company.

Labeled by executives as a “merger of equals,” the deal was first announced in February. USBTC stockholders voted in favor of the combination, the companies said last week — a key step to finalizing a deal expected to close by Nov. 30.

Hut 8 Mining CEO Jaime Leverton noted during the company’s earnings call earlier this month that USBTC’s US operations — featuring campuses in New York, Nebraska and Texas — are set to complement Hut 8’s current Canadian footprint.

Alchemy Pay, a crypto on-ramp and payment gateway, recently said it has been granted the money services license by the U.S. state of Iowa’s banking division. In a statement, the Singapore-based payment gateway said it secured the Iowa license just a few months after obtaining the money transmitter license (MTL) in the state of Arkansas.

According to the gateway’s Nov. 23 statement, obtaining both licenses puts Alchemy in the same league with key players in the U.S. crypto market such as Coinbase, X (formerly Twitter), and Moonpay. Robert McCracken, the ecosystem lead at Alchemy, said the license acquisitions demonstrate his firm’s desire to remain compliant whilst improving user experience.

According to Yahoo News, Spanish inflation experienced an unexpected slowdown, marking the first decline since June, primarily due to decreases in fuel and tourism costs. Consumer prices increased by 3.2% year-on-year in November, compared to 3.5% in the previous month, defying economists’ median estimate of a 3.7% acceleration in a Bloomberg survey. An underlying pressure gauge, excluding energy and fresh food, fell to 4.5%, a more significant decrease than anticipated.

These figures, the first for November from a major euro-zone economy, provide insight into inflation trends as European Central Bank (ECB) interest rates remain on hold after a series of unprecedented hikes. Germany, Europe’s largest economy, is expected to release data later in the day, revealing a slowdown to 2.5%