Binance.US CEO Brian Brooks has announced his resignation from the company, citing "strategic differences" as a main reason for stepping down.

This marks an abrupt change of plans after just weeks ago he had been promoted to co-CEO alongside Binance's current CEO Changpeng Zhao; something that was hailed by many in the industry and seen as refreshing at this time when there is talk about cryptocurrency exchanges experiencing low volumes like never before due to increased regulatory scrutiny around crypto trading on platforms across America and Europe alike.

In a recent tweet, Brock Brooks confirmed that his account was not hacked and cited “differences over strategic direction” between him and his colleagues. This is an interesting turn of events for the U.S arm of Binance global crypto exchange as he previously helmed the Office of The Comptroller Of The Currency (OCC), which regulates national banks under President Donald Trump since November 2017.

Greetings #crypto community. Letting you all know that I have resigned as CEO of ⁦⁦⁦@BinanceUS⁩ . Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!

— Brian Brooks (@BrianBrooksUS) August 6, 2021

It seemed like a corporate move by Binance to recruit well-regarded former regulators from around the world. Then, Brooks’ abrupt departure in now raises questions as regulatory scrutiny of the largest crypto exchange has only intensified this year with different countries including Japan and U.K taking action against Binance; causing an uproar on social media platforms such as Facebook where people are raising their eyebrows at how so many high executives keep quitting within 6 months or less after being hired into positions that once looked certain for them.

Binance.US CEO, Changpeng “CZ” Zhao (Binance US' chairman), said in a statement that he is confident with Binance's business and its commitment to serve customers well. Brooks', the former BNBU CEO, departure will not affect any of these customer relationships; CZ had no word on who would fill this vacancy either as there was no successor or interim replacement named yet.

Binance.US’s CEO Zhao Binxin has expressed his gratitude for Brian Brooks, the former Chief Operating Officer of Binance US and global experience head at BlockchainLabs in a recent statement issued:

“Brian's work for Binance.US has been invaluable and we hope he will continue to be an integral part of crypto industry growth advocating regulations that move our industry forward."

In his time as acting comptroller of the currency, Brooks pursued an aggressively crypto-friendly reform agenda and met often with members of digital asset industry – from corporate CEOs to bleeding-edge entrepreneurs in decentralized finance space.

What's your view on this news? Would the change in Binance Management bring a good move for the company? Share your thoughts in the comments section below.

The crypto-specific provision that would raise $28 billion for the trillion dollar infrastructure package before Congress were so contentious it briefly held up the entire legislation.

The inclusion of a small tax on cryptocurrency transactions was just enough to hold up an important piece of much needed legislation from passing in Washington, DC.

Crypto advocates push for lawmakers to clarify the definition of "broker" and highlight how this provision could lead to stricter rules on transactions.

Bit of History

Initially, policymakers proposed a provision that would impose strict reporting requirements on digital assets in order fund the $1 trillion bipartisan infrastructure bill which is meant as an emergency measure until Congress can agree upon long-term funding solutions.

But crypto enthusiasts pushed back against these proposals citing they are unnecessary when cryptocurrency trading volume has been steadily decreasing over recent years due largely because major exchanges like Coinbase have implemented mechanisms such as KYC/AML policies requiring identification verification before opening accounts or cashing out funds from their exchange wallets into bank accounts so there is very little anonymity left with regards to using cryptocurrencies today.

The current status of Bill defines that,

Anyone who regularly provides services for transferring digital assets on behalf another person as a “broker,” which includes miners and developers—even if they don't charge fees or get paid with anything but cryptocurrency themselves.

The Amendments

Firstly, Senators Ron Wyden (D-Ore.), Pat Toomey (R-Pa.) and Cynthia Lummis D-Wyo., have submitted an amendment to exclude these groups from this legislation's broad scope by explicitly stating that mining and development does not fall under the category "brokers."

However on Thursday  Senators Rob Portman (R-Ohio) and Kyrsten Sinema's amendment to H 2118D which was submitted last week may not be enough of a change to make crypto investors feel more protected. This is because their proposal only changes the “broker” definition slightly while those within the space are demanding much stricter regulations with regard to cryptocurrency trading platforms like Coinbase or Poloniex who offer this type of service.

The essence of Second Amendment

Cryptocurrencies operate on different methods to validate transactions. One method is PoW, where miners solve complex puzzles in order for their transaction to be validated and enter the ledger system.  

Another alternative cryptocurrency model attempts solving this problem by using proof-of-stake (PoS). The PoS relies upon how much coin you hold instead of processing power like mining does thus requiring less electricity or computing resources when verifying transactions across the network than other models such as Bitcoin's Proof-Of Work algorithm which validates blocks through costly computations .

New legislation just passed by the senate is less friendly for PoS software developers, operators etc., and would require any entity that handles more than $10,000 worth of digital currency to report it.

This could force many developers out of the U.S., Blockchain Association executive director Kristin Smith said in a statement. That means less innovation for crypto and an increased chance for investors to get hit hard with unforeseeable events like hacks or government regulations.

Conclusion

After the Senate adjourned, lawmakers will vote on amendments that could be made to the infrastructure bill. The passage of this legislation would then have a chance at being voted on by House members before it is finalized for committee review and debate.

India’s Enforcement Directorate is seeking answers from Binance after investigators found that betting apps collected more than 10 billion rupees ($134 million) over the past ten months, and allegedly laundered a portion of it through WazirX.

The Enforcement Directorate summoned Binance executives for questioning earlier this month to find out if they had any involvement in laundering money using their cryptocurrency exchange platform. The company denied all accusations but has not yet responded as authorities await its response before making moves forward with an investigation against them or legal proceedings.

Recently, Binance has been in the news for while, when its software was hacked and millions of dollars was stolen from users account and also to add that the company is facing regulatory crackdown. This comes in light as company is suspected that cryptocurrencies are being used to conceal proceeds of money laundering, drug dealing and terrorism.

The enforcement directorate has already issued a show-cause notice to WazirX over alleged contravention of foreign exchange management rules in transactions involving cryptocurrencies worth 27.9 billion rupees, according to the people with knowledge of the matter that were asked not to be identified as they aren’t authorized by their employers to speak publicly about this issue yet.

The operators would use wallets on WazirX for buying and converting money into Binance's wallet while using its app; however, it is unclear how long these agents have been doing so without detection or if they will continue after receiving an official warning from authorities.

Wazirx was founded back in 2017 when cryptocurrency trading had just gained popularity across India; since then, the company has witnessed lot of highs and low. Wazirx was acquired by Binance in 2019 and allegedly has been source of money laundering schemes.

The Indian agency found that the Binance exchange is failing to enforce anti-money laundering laws in most of its transactions with clients, according to sources. The company also failed to follow guidelines set by global watchdog FATF for virtual currencies like Bitcoin and Ethereum - making it a hotbed for illegal activity.

Also, it has recently discovered some troubling violations occurring at cryptocurrency exchanges all over India, including those operated by leading companies such as Binance. Sources say that this investigation shows how these major players are not enforcing international standards on money laundering or following rules put forth by authorities such as Financial Action Task Force (FATF). This poses serious risks because experts have shown time and again how cryptocurrencies can serve as vehicles for fraudsters looking exploit unsuspecting victims.

Although, trading cryptocurrencies offers tons of benefits, but it does comes at its  own cost. What do you think folks, is Binance involved in these money laundering schemes? Share your thoughts in comment section below

Amazon has not been one to shy away from innovation, as they have recently hinted that cryptocurrencies may soon be accepted. The company is looking to expand their payment options by allowing Bitcoin for purchases, as they are hiring a digital currency and blockchain product lead

This move will appeal to an ever-increasing number of internet users who have turned away from traditional banking methods in favor of cryptocurrencies like Bitcoin.

The tech giant Amazon is seeking an experienced product leader to develop its Digital Currency and Blockchain strategy. The candidate will leverage their expertise in cryptocurrencies, blockchain technology, distributed ledger technologies (DLTs), central bank digital currencies, as well as a deep understanding of currency markets from around the world.

This person will be responsible for driving overall vision and product strategy while developing innovative solutions to help speed up business processes across Amazon's transactional platforms that allow payments acceptance & experience teams make faster decisions than ever before!

One of the ads posted on LinkedIn reads that,

"You will leverage your domain expertise in Blockchain-, Distributed Ledger-Central Bank Digital Currencies- Cryptocurrency-"to develop the case for capabilities which should be developed," drive overall vision & products strategies at Amazon Payments

Amazon has announced that it is developing a new customer experience initiative. The product lead will work closely with teams across Amazon, including AWS to develop the roadmap and launch strategy for this project.

A spokesperson from amazon said "We are always looking at ways we can improve our customers' shopping experiences and make it easier".

Also, Amazon Web Services (AWS), the Cloud arm of Amazon, currently offers a managed blockchain service. In order to keep up with this demand and innovate in new areas, they are hiring for their next digital currency and blockchain product lead who will need "to operate with high level autonomy". This person would be responsible for using customer data insights to build innovative solutions that have not been seen before.

Other Companies in Silicon Valley show keen interest in Cryptocurrencies  

Apple has also recently posted an ad looking specifically at business development managers working on alternative payment providers such as cryptocurrencies or Bitcoin-related products like wallets or peer-to-peer lending services - so it seems there is plenty of work out there!

Elon Musk is confident that Tesla will resume Bitcoin payments in the near future.
Furthermore,  the CEO of electric car company Tesla and space exploration firm SpaceX has confirmed what many bitcoiners have long been waiting for – more acceptance from mainstream companies who are now taking a keen interest in cryptocurrencies as an alternative payment method. He stated on twitter: “We’ll continue to monitor developments with regards to cryptocurrency regulation at both state & federal levels before we can start accepting them again, but it looks like things [are] starting"

On the similar lines,  Jack Dorsey  Twitter CEO is in opinion that - online world needs a global currency, and our focus is on Bitcoin because with this cryptocurrency, we can reach every single person on the planet.

Do you think, this initiative by Amazon catalyze other tech companies to see the brighter side of Cryptocurrenices ? Share your thoughts in the comments section below

The recent hype in crypto ads has made the Advertising and Self-Regulating Body ASCI to flag it as "emerging area of concern" and planning to form guidelines for cryptocurrency exchanges.

The organization currently does not have any specific codes regulating this type of advertisement and reports having received complaints about deceptive practices related to cryptocurrencies.

The Advertising Standards Council of India has announced that it will be looking for new ways to protect consumers after the recent request by the Income Tax Department.

The Indian government's previous ruling on cryptocurrencies made trading in this currency illegal, but per Manisha Kapoor, Secretary General at ASCI and head of self-regulatory body said they are working with different stakeholders about fresh guidelines necessary to protect consumer interests as well.

The ASCI has released new guidelines to make advertisements more truthful and informative. Also the existing guidelines stipulates advertisers not be misleading or give false information, but fresh guidelines are being formulated for the same as well.

ASCI Guidelines were created back in 2003 by a group of stakeholders from different sectors: Department Consumer Affairs Ministry; Food Safety Standard Authority of India (FSSAI); AYUSH ministry and Information & Broadcasting( I&B) ministries. These Guidelines go on about how ads shouldn't mislead consumers into buying something they don't need like an expensive product when there is another option available at cheaper price - which is what most people have been doing with their money all these years!

India has recently seen a large number of cryptocurrency exchanges opening up since the country's regulators didn't have any laws in place to govern them. Now, after being summoned by Delhi High Court India is trying to regulate these new markets and make them safer for all investors through advertising guidelines without running standard disclaimers which are otherwise required on most financial products.

The IT department of the country demands trade details from all crypto exchanges. Also they have sent notices to three cryptocurrency exchanges, enquiring about the ledger entries for profits made during this bull run and how many digital coins were sold by these entities.

This isn't the first time that India's government has asked such information - in 2017 they also requested similar data when Bitcoin hit an all-time high of $19,000 USD per coin!

What do you think of this initiative by ASCI? Share your thoughts in the comments section below.

Mastercard is helping its partners convert money to fiat currency more efficiently with digital cryptocurrency wallets and exchanges by streamlining the process. The company plans on piloting this new feature in partnership with Circle, Paxos Trust Company, and Evolve Bank &Trust following a Tuesday announcement (July 20).

The credit card networks are ramping up their crypto offerings to catch the attention of consumers. Visa announced this month they had processed a billion dollars in just six months on its network through US dollar transactions, and now Mastercard is enhancing its own cards for cryptocurrency buyers.

Neither company made any mention about how much money was flowing into cryptocurrencies instead of traditional payment systems, but it's likely that increased interest from retailers will only help drive more spending as Bitcoin becomes accepted at an increasing number of merchants around the world - including some major U.S.-based ones like Microsoft who started accepting BTC back in 2014 with limited success; Starbucks has been testing out bitcoin payments since 2016 without offering them to all customers.

Circle and Paxos will team up to create a new type of currency that would be stable when compared with volatile cryptocurrencies. The two companies announced their partnership recently, which is being called the “Clover program”.

They plan to make it easier for banks and crypto partners like Circle Pay or Coinbase Wallet users to purchase cash-backed digital currencies in order provide consumers with more freedom over how they buy goods, pay taxes and take care of other transactions without having worry about market fluctuations happening all too often nowadays within financial circles such as bitcoin's recent price plummeting due to Google banning cryptocurrency adverts from its search engine.

On the similar lines, Raj Dhamodharan, executive vice president of digital asset and blockchain products & partnerships at Mastercard quoted that,

Today not all crypto companies have the foundational infrastructure to convert cryptocurrency to traditional fiat currency, and we’re making it easier.

Furthermore, he added which companies are playing pivotal role in making this idea reality,

Through our engagement with Evolve, Paxos, Circle and the larger digital assets community, Mastercard expects to deliver on our promise of consumer choice to provide options to people around the world on how and when to pay.

The company is in talks with three banks including Metropolitan Commercial Bank and Evolve Banks and Trust to provide services. They are also negotiating partnerships with BitPay, Uphold, i2c Inc., Galileo Financial Technologies for processing or program management.

The Mastercard Company announced that they were looking into partnering up with a few banks as well as the payment processors such as Bitpay by developing co-branded cards. These new features would allow customers to have an easy way of buying Bitcoin just like any other form of currency but at lower rates than usual on credit card purchases over time based off their monthly income range which could be set beforehand before applying for this type of account service from one's bank branch locally or through online banking channels depending where you are applying.

Digital currency is revolutionizing the world, and it only seems like things are going to get bigger in 2021. All kinds of individuals have thoughts about digital money; for example one might want their business's profits paid out in cash instead of bitcoin while another individual would be content with just selling his or her house bitcoins as a form of payment rather than traditional currencies.

To conclude, this initiative by Mastercard will open different avenue for individual to spend their crypto assets.

What do you think on this story? Share this article on our social platforms and do let us know your thoughts in comments section below.

The United States of America has been the second-biggest mining destination on Earth for a long time now, and even before Beijing’s sudden crackdown China knew that its grip was slipping. Fred Thiel of Marathon Digital expects most new miners to relocate north of our border in search of renewables or gas supplemented by renewable energy credits.

China has had a big impact on the bitcoin mining industry. As of April 2021, China is only responsible for 17% of all bitcoin miners in the world and it was once home to more than half that share just 5 years ago.

It's not surprising though considering they have been fast becoming one of the most strict countries when it comes to cryptocurrency regulation with Beijing instituting bans from things like ICOs or crypto exchanges as well as outlawing any trading between currencies pegged at different rates (that includes cryptocurrencies).

With such heavy restrictions put into place, many Chinese Bitcoin Miners are fleeing their homeland looking for greener pastures elsewhere. Some think this could be because new data shows American cities now account for some 151% increase in these numbers over.

Darin Feinstein, founder of Blockcap and Core Scientific has noticed an uptick in mining operations looking to relocate from other countries such as China or Russia due to the recent growth in infrastructure for North America which now includes Canada and Mexico.

The Chinese crypto mining ban has been a focal point of the Bitcoin industry. The Cambridge dataset revealed that before China's decision to halt large-scale bitcoin mining, it accounted for 46% of total world hashrate at its peak in April 2019 - but by September 2019 just months later this percentage had declined sharply from 75%. With many miners now packing up their bags and leaving town as we speak, there remains no telling how much lower those numbers are today.

America's Rising Dominance in Mining Area

The U.S has quietly been building up its hosting capacity for years and it appears to be paying off as many bitcoin miners are coming over from other countries looking for cheaper electricity costs than what they had back home - just one of the reasons why American dominance is inevitable.

However, the big mining operators found themselves being forced to liquidate their equipment at rock-bottom prices. As cryptocurrencies crashed in late 2017 and entered a multiyear crypto winter, there was little demand for bitcoin farms - U.S.-based miners saw an opportunity and took advantage of cheap money from investors by building up the industry on home turf.

“The large publicly traded companies were able to raise capital go make big purchases," said Mike Colyer CEO of digital currency company Foundry which helped bring over 300 million dollars worth of mining hardware into North America."

Impact on Environment

In midst of all this, Thiel expects most new miners relocating to North America to be powered by renewables, or gas that is offset by renewable energy credits

With miners moving to the U.S., Canada, and Russia in droves recently with bitcoin’s price going down a bit, it will mean much lower carbon intensity for cryptocurrency as well.

Nic Carter of Castle Island Ventures points out that while some US mining isn't wholly renewable yet there are things like solar panels on-site at many facilities which demonstrates they're making strides towards becoming so over time"

So folks, what's your take on America's Crypto mining dominance? Share your thoughts in comments section below

Square is looking to create a new business dedicated to DeFi  aka "decentralized finance" applications.

The projects will rely on smart contracts that are executed without the need for third parties like banks or other financial entities in order to conduct transactions of any kind, including lending and borrowing money from peers instead of traditional lenders such as credit card companies.

Square CEO Jack Dorsey is focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.

One way that Square will be achieving this end would be through its newly created development unit which includes Seller (a peer-to-peer payment app) as well as Cash App - which recently acquired Tidal.

DeFi's  Explained

To combat the high fees charged by centralized entities, a new wave of decentralized finance apps (or DeFi applications) are building off blockchain-based smart contracts. Most are being built on Ethereum’s platform in order to provide cheaper and more efficient transactions for its users.

DeFi applications have been a boon for the world's unbanked population and yield seekers alike. They make it easy to send or receive money from any person in the world, no matter their status as an individual with access to banks or not. The flexibility of DeFi has allowed those who can't obtain loans from traditional financial institutions like banks take part in fair lending practices that are both efficient and relatively low cost (between 15% - 30%).

John Todaro has a new report out about DeFi, or decentralized finance. He predicts that these platforms could pose the next disruptive force in banking. In fact, he believes they're already having an effect by offering higher yields than traditional financial products and satisfying demand from yield-starved investors today.

With that said, cryptocurrencies values can change rapidly depending on what happens with trading so an asset put up as collateral might quickly decline in value if things go south meaning positions may be liquidated to cover losses. Errors found by programmers during audits for smart contracts have been known to lead to users losing their money without recourse because they weren't expecting errors were possible at all when writing them initially

In a recent interview, Dorsey discussed the team's commitment to building an open-source platform that is transparent and inclusive of all.

According to DeFi Pulse, there are currently estimated funds locked into around $55 billion worth of deals made via decentralized financings (DeFi). In his latest Twitter thread discussing this data point with those interested in how it may impact global wealth distribution over time, Jack Dorsey said he wants everyone involved in building these systems for creating new economic opportunities on blockchains.

The team has committed itself towards being as transparent as possible through "an open roadmap" and participating openly in development while also making sure code remains free for anyone who wishes to use or build off from its work.

Mike Brock, who leads strategic initiatives for Square’s cash app and will now be in charge of the new business. He tweeted that technology has been a story about decentralization from printing presses to internet browsers to bitcoin- with the power of distributing information or resources more widely than ever before. This is what he said “the next step."

The comments from Jack Doresy proves that the DeFi will be game changer. What do you think about this? Let us know your thoughts in comments section below.

Apple has been in the news lately for being a huge tech company that’s always innovating, but they just did something you might not expect: buying Bitcoin. Rumors are swirling about how much Apple actually spent on these new assets, and it’s reported to be over $2 billion USD total! This isn't the first time we've heard of companies investing into cryptocurrencies- many other giants like Tesla have begun dipping their toes as well.

Reportedly, Apple is making news by purchasing close to three percent worth or all world's bitcoins at an estimated price tag between $1-$3 billion dollars (reports vary).

The thirst for Bitcoin is unquenchable, with the need to know who has the most coins leading investors on a treasure hunt. Some of them have found it in MicroStrategy and Tesla, two giants in their respective industries that boast over $7 billion worth of BTC between just these two companies alone; they are followed by Galaxy Digital Holdings ($521 million), Voyager Digital ($389 million) and Square (255).

Apple is taking over the cryptocurrency space. One of its founders, Steve Wozniak, already has quite a Bitcoin fanboy reputation and it was just announced that Apple would be hiring someone to lead their "alternative payments partnerships" with experience in alternative payment providers including cryptocurrency.

Now there are rumors about an upcoming announcement from Apple concerning something involving Bitcoins worth billions of dollars! This rumor mill got heated up this week on Twitter as people discussed what may happen next for cryptocurrencies if indeed such a purchase occurred or will occur soon enough.

Rumors that #Apple have purchased more than $2B in #Bitcoin 😳

— GalaxyTrading🅡 (@GalaxyTraging) July 12, 2021

Cryptocurrency enthusiasts were skeptical of the news that Apple might be exploring Bitcoin. However, there has been no official comment from either party to confirm or deny this claim. Nonetheless, markets have not yet reacted in a significant way as it seems many traders are taking the reports with a pinch of salt - despite dips on Monday and Wednesday morning after some tweets about these rumors went out.

It should come as no surprise that the biggest public companies in terms of their Bitcoin holdings were MicroStrategy, Tesla, Galaxy Digital Holdings and Voyager Digital. With a combined total worth of 589 million dollars at time when this article was written these four hold more than any other company on earth! Only one dollar behind is Square with 255 million dollars to its name according to research done by Bitcointreasuries.org

If the alleged rumour is true then Apple would be the second-biggest company with a large number of Bitcoins on hand!

What do you think about these rumors on Apple? Let us know your thoughts in comment section below.

Binance, a cryptocurrency exchange used by people worldwide to trade digital coins for fiat dollars and other cryptocurrencies, was hacked on July 6th. For over an hour during the hack Binance froze while some of their customers’ money vanished into thin air — leading many traders who leveraged bets against bitcoin and other cryptos to sue them now that they want what is owed back.

The issue here is that there are no regulations in place at all from any governing body .This means these aggrieved parties can't know whom it would be best petitioning or how much time has already passed before filing suit might make sense again - meanwhile we're talking about 700 individual cases just as French lawyers have stepped up this week with reports coming out recently.

"We took immediate steps to take care of our clients that were affected by the outage. We are sorry for any inconvenience this may have caused," said a spokesperson in an interview with WSJ

Also adding "we remain happy to speak with anyone who has concerns about the issue."

Binance published an open letter where chairperson Changpeng Zhao called on companies and organizations alike to ditch having headquarters all together as outdated. He also specified within his new letter how they aim at complying with their local laws while still providing assurance that Binance is dedicated towards taking care of its customers first and foremost

This year has seen the volatility of bitcoin and other cryptos on full display, with prices going high early in the year. Binance was responsible for a large portion of transactions at that time but when there were issues loading up security protocols as trading volume increased, flaws became apparent quickly.

Authorities from Japan and Cayman Islands issued statements to say they would not be issuing licenses for any crypto exchanges operating within their borders after it came out that Binance doesn't have one either- although this is disputed by some authorities who claim they do indeed hold an international license or two somewhere.

Binance continues to come under fire recently because companies like OKEx stated publicly that it will no longer support customers buying/selling ERC20 tokens through its platform.

What do you feel about this glitch faced by Binance users? Let us know your thoughts in comment section below

TikTok has announced that there are new guidelines in place for the type of content allowed on their platform. Starting now, users will not be able to post any promotional posts about financial products even if they live outside the US.

The article from FT Adviser states that TikTok's branded content policy had already prohibited promotion of all financial services and products but was updated this week specifically targeting crypto-based promotions as well because it is such a hot topic right now with many companies looking into blockchain technology as an avenue for potential revenue streams or cutting costs while still being compliant."

Tik Tok recently made changes to its rules prohibiting certain types of ads including those promoting finance related topics regardless if they're inside or out side America.

TikTok was a hotbed for Dogecoin (DOGE) hype in 2020, when users shared related videos in an effort to get more folks to jump on the bandwagon. Other social media sites have also hosted notable financial markets discussion in recent months, with stock discussions on Reddit becoming prominent as well.

The company announced they were clamping down on “directly or indirectly sponsored content” which led some commenters at FT Adviser to speculate that it would lead people away from trading platforms and instead focus their finances elsewhere—likely due to concerns about how TikTok will handle paid posts after these changes take effect.

Effects on Influencers

Influencers are using TikTok to advertise their coins, exchanges and dApps. However, they're not allowed from advertising digital assets and cryptos on the platform. This is because influencer ads for these products can be targeted at people under 18 years of age in some countries like Japan where children cannot legally trade stocks or cryptocurrencies until they turn 20-years old.

The ability to advertise on TikTok is still an option for some companies as the real issue lies with influencers themselves - Influencers are generally paid a flat fee or commission per endorsement related product such as cryptocurrency wallets that allow access to buy various crypto currencies through devices mobile phones (Tik Tok). The ad policy states that financial services companies are allowed target specific users over eighteen, but ads for digital assets and cryptos are already prohibited from buying ads on the platform.

Cause for TikTok Crypto Ban

The main cause for this  ban is irresponsibly allowing misleading financial advice to be distributed. Young investors who don't know any better can get caught up in these get-rich quick types of schemes and end up in serious debt.

A few posts by TikTok influencers are seemingly harmless; one suggested buying a stock as it's rising then selling when they begin to dip while others promise that you'll make $1M within 30 days or sell online investment courses for tens of thousands of dollars without explaining how this would work out financially on your part first - which is wrong since investing isn't guaranteed nor easy money!

With this move TikTok joins tech gaints like Google who has banned crypto advertisements in 2018, although it did remove part of that ban this year for some entities, pending certain requirements.

The crypto world continues to face lot of backlash and this ban from TikTok is yet another example of that. If you think there are better ways to regulate Crypto Ads, share your thoughts in comments section below.

Binance, one of the largest digital asset exchanges in the world, has temporarily stopped accepting payments from SEPA-enabled bank accounts.

Cryptocurrency exchange Binance has announced they will be suspending euro bank deposits from one of Europe's key payments networks for an unknown amount of time.

They claim this is due to events beyond their control, but it may also stem from the recent concerns with security and money laundering that many banks are now facing.

Cryptocurrency exchanges have been trying out new methods to deposit funds in order make up for what seems like a lack-luster response by European financial institutions after reports on cryptocurrency surged earlier last year; however, these SEPA restrictions could not come at worse timing as customers still struggle with issues surrounding safety and privacy when dealing online and huge issue given the fact cybercrime rates around the world just reached record highs.

In an email statement company reported that,

Deposits via Sepa will be returned within 7 working days

However, the company claims that, this will not affect Sepa withdrawals.

Binance has faced a string of crackdowns on the platform by regulators globally. Recently, Thailand's financial watchdog filed a criminal complaint against Binance for operating without being licensed and Britain's regulatory body barred them from carrying out regulated activities in their country.

The network aims to harmonize euro payments across the European Union region but often faces challenges with authorities all over Europe because they are still trying to figure it out themselves or some don't believe that crypto should be considered money at all while others think regulation is necessary before things go too far off track. One thing people agree on though is how important this service will be once we have true globalization of our currency system which would make sending funds around so much easier!

Japan’s Financial Service Agency (FSA) issued a statement last month declaring Binance as violating their laws on cryptocurrency exchange platforms by not registering with the agency before starting operations in September 2017 .

The FSA also noted that they would continue investigations into other exchanges who are running without an adequate license from them or any form of registration at all, but had yet to name specific companies - only mentioning "foreign" entities such as BTC China Beijing P2P Exchange Co., Ltd., OKCoin Korea Corporation Limited , BITPoint Japan KK Incorporated  NOA

What do you think of Payments issues with Binance exchange? Let us know your thoughts in comment section below.

Blockstream proposes a US Dollar Backed Token Issued on the Bitcoin Cash Network for El Salvador with an initial value of $5 Million.

Blockstream Corp, a blockchain technology company headquartered in Canada, recently proposed the issuance of a digital US dollar-denominated bond to El Salvador’s government as part of their efforts to make Bitcoin legal tender.

Primarily, the Blockstream  is a company with the world's leading provider of blockchain solutions for financial and legal transactions. The company folks met with government officials in El Salvador to pitch its innovative idea: issuing U.S Dollar bonds that pay out regular coupons via digital tokens on Blockstream Amp (a platform used by Blockstream as well as other companies). We are looking forward to hearing more from this Central American country about their decision!

Blockstream Chief Strategy Officer, Samson Mow mentioned that the tokenized securities have a lot of potential to be more liquid than traditional ones after being traded on cryptocurrency platforms. The platform is open 24/7 and doesn't close for bank holidays or weekends, which can make it easier for investors.

Also key point to remember, that investors don’t need to take their investments out all day long just so they could trade them later in the week when banks are opened again. Mow adds that these tokens also reduce costs imposed by issuers since transactions fees would only come from traders instead of several parties involved with an equity investment such as brokers and dealers.

The comments from Samson Mow clearly  indicates,

“It would be groundbreaking if this were a path they were to pursue.”

The company has been working closely with the country since last year and they have recently signed an agreement that will allow them to provide access for all of their citizens without any cost or restrictions on bandwidth, according to CEO David Mow. This would be groundbreaking if it were pursued by other countries also struggling under economic hardships such as Venezuela where high inflation rates are making life difficult for residents there.

To conclude, this proposal aims to provide low-income people with access to digital currency as an investment vehicle and adds more legitimacy for Bitcoin in general. It will not only help them participate in global finance but also enable them to store their wealth safely outside of the fragile local financial system.

We hope you find this article interesting and informational. If so, share your thoughts in the comments section below.

ZebPay, a cryptocurrency exchange in India, is now offering its customers the opportunity to earn returns from their crypto holdings.

The new feature will start by supporting earnings on bitcoin (BTC), ether (ETH), tether (USDT), polygon (MATIC) binance coin(BNB). Users can choose how much they want to save and make money off of their coins with Zebpay Earn at an interest rates ranging between 7.5% for USDT; 2%, 1.5% respectively for DAI and ETH ;1%.

ZebPay offers users the ability to take advantage of earning rewards. Interestingly this new "Earn" function offered by exchanges like them are typically reserved only for traditional currencies such as US dollars.

You can earn returns on your crypto balances just by storing them at the Zebpay exchange. There’s no minimum requirements, and you don’t need to take any action whatsoever—just hold onto your cryptos for as long as possible in either a spot or trading wallet!

How can you start earning?

According to the company, you'll be paid by a whole month's worth of earnings in one payment at the beginning of each new cycle. Earnings are credited monthly with payments on or before 7th day.

The monthly earnings will be credited by the 7th of the month, so all your hard work can pay off. The smallest unit is 1 satoshi (0.00000001 BTC), which was named after bitcoin founder Satoshi Nakamoto.

Earlier in the month of May, the company had launched Lending Platform, which allows users to lend their crypto to ZebPay and earn returns based on the coin and its lending period.  This Earn allows users to continue trading their coins, whereas users cannot trade the coins lent with the ZebPay Lending Platform before maturity.

Furthermore, the CEO of ZebPay Avinash Shekar, emphasized on the benefits of the Earn feature and quoted that,

With Earn, we are removing the threshold of having to lend one’s crypto for a certain amount of time. We are now enabling ZebPay users to not only continue holding but also continue trading while earning returns on their balance.

The idea here is to let the customer's coins earn for them in more than one way as they sit in their wallets. Along with this every customer HODLing their coins for long-term returns as well as those short-term customers trading on exchange.

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In an effort to cut down on overseas trading delays, some of the biggest banks in India have partnered up with Infosys Finacle Connect. With this system based off blockchain technology the team is planning to enable digitisation and automation trade-related finance processes.

Indian Banks' Blockchain Infrastructure Company Private Limited (IBBIC) is a coalition of 15 participating banking institutions including ICICI Bank, HDFC Bank, RBL Bank SBI as well as Canara bank who are looking forward to joining forces for their customers’ benefit.

These Banks in India are coming together to use blockchain technology to create a more efficient banking system. Traditional banks have an issue with processing Letters of Credit, GST invoices, and e-way bills which causes long wait times for transactions while also leaving the data vulnerable.

The new platform will allow traditional bank employees who specialize in these issues as well as those from small businesses (MSMEs) can process their documents electronically without waiting or risking security breaches. This is expected to reduce transaction time substantially while providing a secure environment that benefits everyone involved!

Letter of Credit

To understand what an LC(Letter of Credit) is - it is an letter from the bank that guarantees payment. A buyer can use one to show they are able and willing to pay for something at the time of purchase, but there's no guarantee they'll actually do it until two months later. Not only does issuing an LC take some human oversight (to prevent fraud), you also have to authenticate transactions in order for them count as valid on both sides of the ledger.

This process takes much more effort than using blockchain technology could ever require with its incorruptible data storage system - no matter how many copies get out into circulation!

On similar lines, Varun Bakshi, head of products and transaction banking at RBL Bank quoted that,

Disbursements on domestic LCs, which used to take four to five days, can be done in four hours.

Each bank has a stake of 6.66% in the new system which will be live within the year, and it’ll also have an open design that makes for easy integration with other banks at any time in future plans.

Benefits for MSMEs

Nanopayments have finally made it to the world of invoices. With this new technology, sensitive data is removed and converted into a token that can be used for settlement purposes--for example in an invoice transaction, payments overheads will also be settled with these tokens.

For MSMEs (medium-sized or small enterprises), having such capabilities means their approval processes would become more streamlined through all transactions involving assets, liabilities, disbursement processing etc., which could result in higher efficiency rates and better productivity as well. And most importantly minimal chance of fraud

More on IBBIC..

The incorporation of IBBIC is similar to that of the National Payments Corporation of India (NPCI), which handles critical real-time products like RuPay, UPI, and FASTag.

With blockchain adoption in banks across the globe as they collaborate at an unprecedented scale for betterment from their individual ambitions too; this cooperative model has been widely acclaimed worldwide.

As industry benefits with each bank having something to gain individually also - through competition or collaboration between themselves – it's evident how all these entities will take a giant leap forward by collaborating together yet again under one organization called International Blockchain Bank Consortium Incorporation Company (IBBIC).

Finally, I would like to say, blockchain tech has penetrated various arena in our society and life. And association  like IBBIC are more likely to form. With Crypto world witnessing exponentially growth in past year, financial intuitions are yet to take advantage of it.

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