Blockchain Press Releases
INAUGURAL MALAYSIA BLOCKCHAIN WEEK MYBW TO KICK OFF IN KUALA LUMPUR IN JULY 2024
KUALA LUMPUR, Malaysia, June 27, 2024 /PRNewswire/ — Malaysia is officially stepping foot into the Web3 blockchain industry with the inaugural Malaysia Blockchain Week (MYBW), in partnership with the Malaysia Digital Economy Corporation (MDEC). Minister of Digital, YB Tuan Gobind Singh Deo is expected to attend the week-long on-ground event which aims to explore the future of Web3 in Malaysia.
Web3 and blockchain technology took the entire world by storm in just a short few years, including Malaysia. While initially full of speculation, the industry is quickly ripening into one with tangible, real-world impact.
“The Malaysian government has backed blockchain technology in the country with supportive government policies, regulations, and initiatives to foster blockchain development.” – Noelle Lee, Lydian Labs.
As corporate and government bodies express interest in the endless possibilities of Web3, MYBW aims to facilitate conversation and discussion between such parties and around the industry as a whole, bringing together the brightest and most influential parties in Malaysia via speakers, demos, and more, creating a value chain which benefits every stakeholder in the ecosystem that ultimately exponentiates the tech growth of Malaysia via the blockchain.
“Malaysia boasts a rapidly growing tech ecosystem with a strong emphasis on digital transformation. In line with our national strategic initiative, Malaysia Digital, MDEC aims to provide the best resources towards nurturing this ecosystem for tech entrepreneurs and support for the numerous tech startups, incubators, and accelerators breaking ground on blockchain innovation. MDEC is committed to fostering effective collaborations to establish Malaysia as ASEAN’s digital hub” – Ts. Mahadhir Aziz, CEO of MDEC.
Major panel discussions and more than 20 keynote speakers will open the curtain on important blockchain topics such as regulatory issues, the decentralised finance & syariah digital economy, blockchain traceability, NFTs & Web3 Gaming, and the impacts of Artificial Intelligence (AI) on the Malaysian landscape.
Local industry giants Matthew Tan, CEO of Etherscan, and Bobby Ong, co-founder and COO of CoinGecko, will also be sharing their expertise with fellow Malaysians, offering attendees a rare chance to meet them in person.
Catch Malaysians who have gained a name for themselves in the digital sphere such as Siong, co-founder of Jupiter; TN, co-founder of Pendle Finance; Shawn Chong, co-founder of Salus; Dr Ian Tan, COO of Lydian Labs; Nicole Yap, Founder of 8SIAN NFT and more, while also keeping an eye for international names such as Chess, CEO of GM Network; Dr Kang Li, CSO of CertiK; Victor Ji, Co-Founder of Manta Network and many more.
Malaysian Blockchain Week will have side-events, such as the Growth Charger Hackathon, Offchain Global Conference leading up to the main event to be held in the Malaysian landmark World Trade Centre Kuala Lumpur (WTCKL).
Tickets for MYBW are already available on the official website.
Date: 31 July – 1 August 2024 | 10am – 6pm
Location: World Trade Centre Kuala Lumpur (WTCKL)
Website details: https://myblockchainweek.com/
Lydian Labs is a full stack Web3 solutions provider focused on the APAC region and China, providing 3 main pillars of services: Advisory, Tech, and Marketing.
To know more about Lydian Labs, visit https://bit.ly/LydianLabs or find them on X (formerly known as Twitter).
Media Contact Info
Organisation: Lydian Labs
Website: www.lydianlabs.io
Telegram: @yichingnonolee or @doctoringaming
View original content:https://www.prnewswire.co.uk/news-releases/inaugural-malaysia-blockchain-week-mybw-to-kick-off-in-kuala-lumpur-in-july-2024-302184528.html
The U.S. branch of Binance, a leading global cryptocurrency exchange, is bracing for the next stage in its legal battle with the Securities and Exchange Commission (SEC). The clash centers on allegations of securities law violations, which Binance.US staunchly denies.
In June 2023, the SEC initiated legal proceedings against Binance Holdings Ltd., BAM Trading Services, BAM Management U.S., and CEO Changpeng Zhao. The SEC claims that these entities mishandled customer assets, violating U.S. securities laws. In response, Binance.US asserts it has operated within the limited guidance provided by the SEC, maintaining compliance with regulations. The company highlights its commitment to customer safety, maintaining a 1:1 reserve for all customer assets, and implementing stringent compliance and risk management measures.
However, Binance.US criticizes the SEC for “regulation by enforcement,” particularly under the leadership of Chairman Gary Gensler. Despite the allegations, Binance.US remains confident in its defense, challenging the SEC’s evidence and legal basis for the action. The company expects the Court to support its position, dismissing the SEC’s claims as legally and factually unfounded. Binance.US reassures its users of normal operations and the continuation of scheduled feature releases despite the ongoing legal proceedings.
This dispute between Binance.US and the SEC highlights broader regulatory tensions within the U.S. cryptocurrency market. Recent crackdowns by the SEC have intensified these frictions, leading to significant legal confrontations between regulatory bodies and crypto exchanges. As Binance.US prepares for its legal confrontation with the SEC, the outcome of this case could have substantial implications for the cryptocurrency industry in the U.S. The company’s strong defense and commitment to compliance may set a precedent for how crypto exchanges navigate regulatory challenges in the future.
Source: cryptotimes.io
The post Binance.US Prepares for Legal Fight with SEC Over Compliance appeared first on HIPTHER Alerts.
The Digital Asset Alliance, representing crypto companies in South Korea, announced that it will conduct a comprehensive review of 1,333 altcoins over the next six months. This initiative comes as the South Korean government prepares to implement the Virtual Asset User Protection Law on July 19, aimed at safeguarding investors.
Virtual Asset User Protection Law
- Implementation Date: July 19
- Objective: Protect investors and enhance regulatory oversight in the cryptocurrency market
- Impact on Altcoins: Potential effects on altcoin trading due to increased scrutiny and compliance requirements
South Korea’s Crypto Landscape
- Trading Focus: South Korea’s trading activity emphasizes smaller cryptocurrencies over Bitcoin
- Currency Dominance: The Korean won surpassed the US dollar as the most used currency for trading cryptocurrency in the first quarter of this year
Digital Asset Alliance’s Review Process
- Scope: Reviewing 1,333 altcoins for compliance with the new regulation
- Evaluation Period: Six months
- Compliance Criteria: Tokens will be assessed based on the Virtual Asset User Protection Law, focusing on reliability, security standards, and regulatory compliance
Response to Regulation
- Gradual Implementation: The Alliance indicated that tokens are unlikely to be mass-removed abruptly, opting for a gradual implementation of the regulations
- New Tokens: Any new tokens will be assessed under the new law before being listed
Challenges and Implications
- Balancing Safety and Trading: Exchanges must comply with basic rules for token listing and conduct regular reassessments every six months, including reliability tests on issuing entities
- Penalties: Non-compliance could result in severe penalties, including a minimum of one year in jail or fines
- Historical Context: The regulation is partly a response to the collapse of Luna and TerraUSD tokens, which resulted in significant financial losses
Importance for Crypto Development
- Government Oversight: The new regulation will increase government scrutiny of virtual asset providers
- Investor Vigilance: Crypto investors in South Korea are advised to stay informed and verify changes in token availability before investing
The proactive approach by the Digital Asset Alliance aims to ensure a smooth transition to the new regulatory environment, mitigating the risk of market disruption and fostering a safer investment landscape.
Source: coinspeaker.com
The post South Korea’s Crypto Exchanges Prepare for New Investor Protection Rules appeared first on HIPTHER Alerts.
Circle, a prominent cryptocurrency firm known for its USD Coin (USDC) stablecoin, announced on Monday that it has registered as an electronic money institution (EMI) in France. This registration grants Circle a key license to become a compliant stablecoin issuer under the European Union’s stringent crypto regulations.
Key Points
- EMI License: Circle received the e-money license from France’s banking regulator, Autorite de Controle Prudentiel et de Resolution (ACPR).
- MiCA Compliance: This license makes Circle the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulatory framework.
- Stablecoin Issuance: Both USDC and Euro Coin (EURC) are now issued in the EU in compliance with MiCA’s regulations.
- Circle Mint in France: Circle is also launching Circle Mint in France, enabling businesses to mint and redeem Circle stablecoins.
Regulatory Milestone
Jeremy Allaire, co-founder and CEO of Circle, emphasized the significance of this achievement, highlighting that adherence to MiCA represents a major step in bringing digital currency into mainstream acceptance and scale.
EU’s MiCA Framework
- Comprehensive Regulation: MiCA, which became law in May 2023, is the world’s first comprehensive regulatory framework for cryptocurrencies.
- Stablecoin Rules: Provisions for stablecoins, approved last week, impose strict limitations on non-euro-denominated stablecoins used as a “means of exchange” if they exceed specified transaction thresholds.
- Passporting Services: As a France-registered EMI, Circle can offer its services across the entire EU, leveraging the “passporting” rights within the bloc.
Compliance Timeline
- MiCA Implementation: Full compliance for crypto asset service providers under MiCA is required by December 30, 2024.
- Transition Period: Companies will have until July 2026 to fully comply with all MiCA regulations.
Circle’s Market Position
Launched in September 2018 by Circle and crypto exchange Coinbase, USDC is the second-largest stablecoin globally, with $32.4 billion in circulation, according to CoinGecko. It follows Tether’s USDT, the largest stablecoin with $112.7 billion in circulation.
Circle’s registration as an EMI in France and compliance with the MiCA framework mark significant advancements for the firm. This move not only enhances Circle’s regulatory standing but also positions it to better serve its users by integrating traditional financial standards with the innovative capabilities of blockchain technology.
Source: cnbc.com
The post Crypto firm Circle gets approval to issue stablecoin in EU under bloc’s strict rules appeared first on HIPTHER Alerts.
-
Blockchain Press Releases6 days agoBitget and Foresight Ventures Launch $20 Million TON Ecosystem Fund Amid TON Surpassing Ethereum in Daily Active Addresses
-
Blockchain7 days ago$313,090,000 in Liquidations Hits Crypto Markets As Bitcoin Touches $59,000 Following Mt. Gox Statement
-
Blockchain Press Releases6 days agoJanOne Appoints Vay Tham as its Chief Revenue Officer and President of its Fintech Subsidiary, ALT5 Sigma
-
Blockchain Press Releases6 days agoBybit Web3 Presents: Grow Your Ethereum Portfolio Masterclass Livestream and YieldNest Giveaway
-
Blockchain5 days ago
If Bitcoin Plunges Below $57,000, Here Are 3 Possible Outcomes, Ethereum ETF Approval May Be Imminent as VanEck Steps in: Crypto News Digest by U.Today
-
Blockchain Press Releases4 days agoBitget Wallet Announces Investment in New Asset Trading Platform Tomarket, Targeting Trillion-Dollar Markets Beyond DEXs
-
Blockchain4 days ago
Algorand celebrates 5th anniversary with 2 billion transactions and record adoption of real-world use cases at annual Decipher conference
-
Blockchain5 days ago
Metallicus and Bonifii Partner to Revolutionize Blockchain in Financial Services
