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Crypto News Today – SC Malaysia lists Huobi Global on Alert List!

Crypto News: The Malaysian Securities Commission Board has placed the crypto exchange Huobi Global on its investor alert list. Malaysia SC ruled the decision after it found the firm to run unregistered digital asset exchange (DAX) servicers in the nation.

  • In Nov 2020, Huobi Global vaguely announced it had secured a license from the Malaysian authorities to offer safe and regulated crypto trade services.
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» Huobi Global Pending DAX Registration in Malaysia!

A regulator has clarified that the previously acquired registration to the Huobi Global company only allowed it to operate within Labuan.

  • The DAX will require obtaining additional approval for carrying out crypto-regulated activities like crypto exchange to the Malaysian public.
  • Previously in recent weeks, Huobi Global was under the spotlight for having its operations license canceled by Thailand Securities Commission.
  • Several months before, the firm announced that it was withdrawing its operations from the Singapore region.
  • The firm has laid off 30% of its workforce so far within the same month.

» More Crypto News Today!

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→ MetaBlox to Launch Miner-Pegged NFTs on Binance NFT!

The miner-pegged NFTs will possess cloud capabilities and will be pre-launched on August 24th, 2022. MetaBlox is among the leading projects within the Decentralized Wireless Network (DWN) and Decentralized ID (DID) sectors.

  • MetaBlox NFT, linked to a miner, will allow the public free WiFi access., as demonstrated during the NFT NYC event.
  • The miners will generate a passive economy of MBLX tokens for the NFT owners.
  • The NFTs connected to a miner will solve cloud-mining utility while offering digital ownership of an asset.
  • Earning crypto from cloud-mining will begin on December 12th, 2022, while staking it will also be possible.

Also Read: Web3 Decentralized Education Programmes (Ed3) For Future Learning!

→ Thai SEC Warns Investors Against  DeFi Investments!

The Thailand Securities and Exchange Commission has dubbed DeFi transactions risky and thereby warns the citizens about the same. Citing concerns about dealing with overcrowded collateral conditions of DeFi ecosystems and their ability to deal with volatility and rug pull cases, the warning is issued publicly.

  • DeFi protocols performing lending or debit-taking activities against crypto and other assets are considered risky by Thailand SEC.
  • DeFi programs and protocols generally do not have an entity looking after the procedures, where everything is automated.
    • Hence, taking control of the system via illicit means can lead to significant losses and fraudulent activities.

→ DBS Digital Exchange Report Reflects Positive Investor Sentiment!

The DDEx trades report shows doubled trading activity by its users in June compared to the April reports. The activity resembled 90% of buy orders among the users during June, a positive sign of growth.

  • Among the 90% of buy orders, 65% of orders belonged to purchasing the Ethereum crypto tokens.
  • Bitcoin purchases for the month of June quadrupled, resembling recovering investor sentiments after the Crypto Winter.
  • Meanwhile, since April, the DBS bank has not made a statement about its crypto retail investment plans.

→ IMF Calls for Framework over Rising Asian Crypto Trade!

The IMF report states that crypto and digital asset investments can risk the financial stability and other issues globally. It also mentions concern over Asian regions adopting cryptos, such as India, Vietnam, and Thailand.

  • IMF highlights that the said regions’ equity markets are now prone to instability due to crypto investments from 2020.
  • Large losses can lead investors to rebalance their portfolios, possibly defaulting on liabilities or causing financial volatility.
  • Additionally, the organization suggests that while crypto regulations are already underway in those regions, they must also be clean, fully effective, and inform investors regarding the risks beforehand.
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→ Crypto Miners on Vigilance by Thailand SEC & SET!

The Economic Crime Suppression Division (ECD) is closely monitoring 10 cryptocurrency exchanges listed on the SET. Simultaneously, the authorities suspect some platforms to be participating in illegal share manipulation activities.

  • The Stock Exchange and Trading commission in Thailand are watching 10 crypto exchange companies running Crypto Mining operations.
  • Per reports, the authorities believe that some companies are only a front for running crypto mining operations, besides spreading false claims of growing share values on social media.

Crypto Sale Today – August 23rd, 2022

The top cryptocurrency prices in the global crypto market continue to show slower gains. The following figures per crypto news reflect their individual positions from today, as shown below:

crypto news
  • (BTC) Bitcoin
    • Average Price: $20,996.98
    • 24h: – 2.16% ↓
  • (ETH) Ethereum
    • Average Price: $1,574.36
    • 24h: – 1.97% ↓
  • (BNB) Binance Coin
    • Average Price: $294.56
    • 24h: – 1.08% ↓
  • (XRP) Ripple
    • Average Price: $0.3346
    • 24h: – 1.98% ↓
  • (ADA) Cardano
    • Average Price: $0.4481
    • 24h: – 2.13% ↓
  • (SOL) Solana
    • Average Price: $34.36
    • 24h: – 5.03% ↓

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