Crypto News Daily: The US Securities and Exchange Commission has already been gearing up on Crypto platforms and crypto firms for regulation enforcement. After adding 34 names of Crypto and Forex exchanges and platforms to the RED list, SEC looks forward to regulating crypto in the US.
- The US Treasury has submitted the draft of Crypto Regulations to US President Joe Biden.
- SEC Chairman discusses the outline of responsibilities it will gain and whom the crypto regulations affect or benefit.
» SEC Chairman: Crypto Regulations Benefit Investors & Customers!
The SEC is already involved in a class action lawsuit case versus Ripple, whose final verdict might date to Dec 2022. In the meantime, SEC also faces lawsuits from Crypto Firms regarding not offering proper guidelines. However, it’s soon to change.
- SEC Chairman Gary Gensler mentions anticipating increased responsibility of SEC in talks with Yahoo Finance.
- SEC Crypto regulations will focus on key areas: exchanges, brokerage, and lending – crypto news source.
- The Chairman adds having special powers from Congress to protect investors, which might entail full token disclosure.
- SEC crypto regulations enforcement will oversee tokens, stablecoins, and unstable coins, thereby contacting banking regulators and CFTC.
→ Cops Send Notice to Singapore-Based Bibox in Rs 2.57 Crypto Fraud!
An incident in the India Crypto market concerns an NRI losing access to his $323,000 worth of crypto investments. The victim, Srinivas, having US citizenship, had invested the sum in Bibox, a crypto exchange platform.
After seeing his balance holdings as a null value and repeatedly communicating with the firm with no solution, he registered a case with the cyber crime branch.
- The Police allege the culprits of the Crypto fraud belong to or are believed to be Nigerians.
- The cybercrime division has also sent a notice to the Singapore-based firm Bilbox, hoping to acquire the IP address and other details of the crypto transfer.
→ Indian Crypto Firms Consider Creating a New Crypto Association!
After the IAMAI dissolved the BACC organization, which ended affiliations on both sides, the Indian crypto players reaffirmed the need for a central association. A crypto exchange executive claims the firms were only made aware of the BACC dissolution after the IAMAI announced it.
- The IAMAI and BACC differences were plenty since the latter alleges the former to be leaning to support the CDBC initiatives.
- In contrast, IAMAI holds both BACC and Crypto FIrms accountable for not taking measures to comply with government regulations.
- The BACC funding was provided by the top 5 Crypto firms of the nation, which accepted its benefits, and ROI didn’t meet the cost.
- Against the state of the Indian Crypto Market and Ambiguous regulations, the Crypto firms believe they can still create safe ecosystems.
→ Northern Data, Largest EU Crypto Miner, Sells Most Cryptos Daily!
The largest crypto mining company in Europe, Northern Data, reportedly used 223,000 GPUs to mine 4,331 ETH in June. The crypto news report mentions the miners being affected by the market after the mining profitability takes a >75% hit from the rising energy prices.
- The Northern Data mining computer currently mines approximately 3.5 EH/s.
- A Glassnode report statistics show Crypto Mining companies selling between 3K-4K crypto coins monthly. Their prediction reports the sale might soon surpass 8K Crypto coins.
→ Gift Card Platform ‘GiftChill’ Announces Accepting CRON Payments!
The globally known Gift Card platform announced on Monday about accepting Cronos Payments, growing its list of accepted cryptos.
- Gift Card Platform already accepts top cryptos like Bitcoin, DogeCoin, Litecoin, Binance coin, Kisha Inu and Shiba Inu, etc.
- Cronos is built on the Ethermint, an EVM sidechain of the Crypto.Org Chain, supporting dapps and smart contracts porting from Ethereum.
Crypto Sale Today – July 18th, 2022
On the global crypto market, the top cryptocurrency prices appear to favor crypto today. The following figures reflect their positions:
- (BTC) Bitcoin
- Average Price: $22,234.75
- 24h: + 2.08% ↑
- (ETH) Ethereum
- Average Price: $1,453.67
- 24h: + 1.45% ↑
- (BNB) Binance Coin
- Average Price: $261.03
- 24h: + 1.23% ↑
- (XRP) Ripple
- Average Price: $0.3648
- 24h: + 0.14% ↑
- (ADA) Cardano
- Average Price: $0.4447
- 24h: + 0.86% ↑
- (SOL) Solana
- Average Price: $42.31
- 24h: + 0.92% ↑