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LBank Exchange Will List XRoad Initiative (XRI) on February 22, 2022

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Internet City, Dubai–(Newsfile Corp. – February 18, 2022) – LBank Exchange, a global digital asset trading platform, will list XRoad Initiative (XRI) on February 22, 2022. For all users of LBank Exchange, the XRI/USDT trading pair will be officially available for trading at 14:00 (UTC+8) on February 22, 2022.

Figure 1: LBank Exchange Will List XRoad Initiative (XRI) on February 22, 2022

The need for maintaining individual data integrity and security has become ever more important in recent years. As an intersection for management of user’s data from off-chain to on-chain and back, XRoad believes that blockchain technology presents a decentralized and more democratized alternative where data integrity and security are achieved with self-verifying and self-executing smart contracts. With XRoad Decentralized Storage, XRoad Locker, and Oracle solutions, XRoad empowers individual Internet users to leverage blockchain technology for user-friendly access, protection, and control over their data. Its native XRoad Initiative (XRI) token will be listed on LBank Exchange at 14:00 (UTC+8) on February 22, 2022, to further expand its global reach and help it achieve its vision.

Introducing XRoad

The XRoad Project is here to fulfill the growing demand for bringing off-chain environment data into on-chain environments and the growing demand for storage and user control over their data. It aims to provide individual Internet users with the decentralized infrastructure needed to serve as the intersection between blockchain technology and the world’s data, offering XRoad Oracle, Decentralized storage, and Locker for user-powered interoperability between the off-chain world and smart contracts, as well as for individual data self-sovereignty.

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From websites to databases and beyond, the XRoad Oracles serve as the essential data feed for the decentralized world. It bridges the connectivity gap between the off-chain data and blockchain smart contracts effectively and efficiently, providing the ability for interaction with online sources of information and the ultimate transference of this information to the blockchain.

XRoad’s blockchain-based decentralized storage XRDS is the convergence between multi-cloud decentralized data management philosophy with individual data self-sovereignty. It empowers users to store, secure, verify and authenticate their data with the decentralized approach to data management and provides a network that is highly difficult to attack or censor.

And with XRoad Locker, the user is truly in complete control over the accessibility of their data, their registered information, data disclosing and the value of the disclosed data to providers. In another word, users will own their data and decide how their data is used.

In addition, XRoad users can also easily mint NFTs representing ownership of digital assets stored on XRDS, and XRoad Locker enables control over sales and rentals, revenues generated through NFTs.

About XRI Token

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XRI, the XRoad Initiative token, is used throughout the XRoad platform. Without the usage of XRI, access to the XRoad platform is not possible. XRoad Oracle operators receive XRI when processing correct data, maintaining, and operating their nodes. To access and store data on XRDS, transactions must be paid in XRI. And advertisers looking to target specific demographics need to purchase their traffic using XRI. Whether a user is interested in contributing to the XRoad platform’s operation or benefitting from its services, XRI is critical to the sustainability and success of the platform.

The total supply of XRI tokens is 10 billion (i.e. 10,000,000,000), 55% of it is provided for the ecosystem that is used for the promotion, facilitation, and expansion of the XRoad platform; 5% is used for private and public sales, 5% is provided for liquidity, another 25% is allocated to the team and advisors, and the rest 10% is provided for partnership.

The XRI token will be listed on LBank Exchange at 14:00 (UTC+8) on February 22, 2022, investors who are interested in XRoad investment can easily buy and sell XRI on LBank Exchange by then. The listing of XRI on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.

Learn More about XRI Token:

Official Website: https://exroad.io
Telegram: https://t.me/xroad_initiative
Twitter: https://twitter.com/xri_ltd_info/
Instagram: https://instagram.com/xri_ltd_info_

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About LBank Exchange

LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.

Start Trading Now: lbank.info

Community & Social Media:

l Telegram
l Twitter
l Facebook
l Linkedin

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Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]

PR Contact:
ZEXPRWIRE
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114190

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University

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In an innovative effort to revolutionize digital financial education, a prominent digital currency provider has teamed up with a renowned university in Taiwan. This strategic collaboration aims to equip students with advanced knowledge and practical experience, preparing them for the future of finance.

Empowering Future Financial Professional

The partnership focuses on immersing students in the complex world of digital assets, blockchain technology, and cutting-edge financial instruments. Industry experts will offer invaluable insights and mentorship, enhancing students’ understanding and skills in this rapidly evolving field.

Curriculum Highlights:

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  • Blockchain Principles: Foundational knowledge of blockchain technology.
  • Critical Thinking: Developing analytical skills for problem-solving in digital finance.
  • Risk Assessment: Strategies for identifying and managing financial risks.
  • Legal Compliance: Understanding the regulatory landscape and compliance requirements.
  • Career Insights: Exploring potential career paths in the digital finance industry.

Commitment to Digital Economy Growth

This initiative underscores a commitment to fostering the digital economy’s growth by highlighting the stability of digital assets against traditional currencies. The newly introduced digital token combines traditional asset stability with blockchain security, offering a robust financial instrument for the future.

The digital currency provider has a long-standing history of promoting blockchain education and advocating for financial inclusivity. By facilitating cross-border transactions and investing in emerging markets, the organization continues to play a crucial role in shaping digital finance’s future.

Advancing Financial Literacy and Inclusivity

This collaborative effort represents a significant step towards democratizing financial literacy and empowering individuals worldwide to engage with the evolving digital currency landscape.

Additional Facts:

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  • Taiwan’s Blockchain Hub: Taiwan actively promotes itself as a hub for blockchain and digital currency innovation through various initiatives.
  • Research and Development: The partnership is expected to spur increased R&D activities in digital assets, benefiting both academia and industry.
  • Regulatory Exploration: Taiwan’s government is interested in exploring regulatory frameworks for digital currencies and blockchain technology, creating a supportive environment for such collaborations.

Key Questions Addressed

  1. Impact on Adoption: How will the collaboration between the digital currency provider and the university impact the adoption of digital currencies in Taiwan?
  2. Skills and Knowledge: What specific skills and knowledge will students gain from the curriculum focusing on blockchain technology and digital assets?
  3. Regulatory Compliance: How does the initiative address potential regulatory challenges and compliance issues in the digital currency space?

Advantages and Disadvantages

Advantages:

  • Enhanced Education: Offering students unique educational opportunities in digital finance and blockchain technology.
  • Industry-Academia Bridge: Providing hands-on experience and mentorship to bridge the gap between academia and industry.
  • Economic Growth: Contributing to the growth and development of the digital economy in Taiwan and beyond.

Disadvantages:

  • Curriculum Updates: Potential challenges in keeping the curriculum up-to-date with the rapidly evolving digital currency landscape.
  • Practical Exposure: Ensuring students receive practical, real-world experience to complement theoretical knowledge.
  • Regulatory Balance: Balancing the promotion of digital currencies with the need for regulatory compliance and risk management.

The collaboration between the digital currency provider and the Taiwanese university marks a significant milestone in digital financial education. By integrating industry expertise with academic rigor, this partnership aims to nurture the next generation of financial professionals and foster the growth of the digital economy.

Source: smartphonemagazine.com

The post Digital Currency Initiative Launches in Taiwan by Collaborating with Prestigious University appeared first on HIPTHER Alerts.

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Blockchain

Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator

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In a recent court appeal, Binance argued that it does not specifically target Canadian customers, claiming its activity in Canada is merely a byproduct of its international operations, according to a June 19 report by the Canadian Press. The exchange revealed that although it had previously attempted to establish a Canadian presence, these plans were abandoned. By May 2023, Binance had fully exited the Canadian market, citing new regulations on stablecoins and investor restrictions that made continued operations unfeasible. Despite its departure, Binance acknowledged the sentimental value of Canada, being the home country of its founder.

In May, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a $4.3 million fine on Binance for non-compliance with anti-money laundering (AML) and terrorist financing rules. FINTRAC claimed that between June 2021 and July 2023, Binance failed to report over 5,000 transactions of $10,000 or more. Additionally, despite having multiple opportunities, Binance failed to register as a money services business within the deadlines set by the regulator.

Beyond its issues in Canada, Binance is facing a multitude of legal challenges globally. In April, a class-action lawsuit was filed against the exchange in Canada, accusing it of violating securities laws. The plaintiffs allege that Binance sold crypto derivative products to everyday investors without proper registration, breaching Ontario’s Securities Act and federal regulations. This lawsuit, representing tens of thousands of Canadian investors, seeks compensation and the reversal of unauthorized trades.

Globally, Binance has also faced significant financial penalties. In November, the exchange settled with US authorities, agreeing to a $4 billion fine for violations of anti-money laundering and sanctions laws. Similarly, the Indian Financial Intelligence Unit imposed a $2.24 million fine, the largest ever against a crypto entity in the country, for failing to comply with AML regulations.

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Binance’s regulatory and legal troubles illustrate the significant challenges faced by cryptocurrency exchanges operating across multiple jurisdictions. While the exchange continues to navigate these complexities, its ability to comply with global regulatory standards and address legal disputes will be critical to its long-term viability and reputation in the market.

Source: cryptonews.com

The post Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator appeared first on HIPTHER Alerts.

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Blockchain

Binance.US Dealt Another Blow: North Dakota Revokes License

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Following the lead of states like Florida, Alaska, Oregon, Maine, and North Carolina, North Dakota has moved to block Binance.US from regaining its money transmitter license. This decision by the North Dakota Department of Financial Institutions (DFI) is grounded in a November 2023 guilty plea by Binance founder Changpeng Zhao on anti-money laundering charges, further questioning the exchange’s suitability for operation.

Protecting Public Interest

DFI Commissioner Lise Kruse emphasized the need to protect the public interest in her statement: “The Commissioner finds the Respondent does not continue to meet the qualifications or satisfy requirements that may apply to an applicant for a new money transmitter license.” This decision adds North Dakota to the growing list of states placing Binance.US in regulatory “penalty boxes.”

Global Troubles and US Regulatory Concerns

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The regulatory issues faced by Binance.US in the United States reflect broader global challenges. For instance, a recent regulatory conflict in Nigeria, which resulted in the detention of a Binance executive, raises additional concerns for US regulators, complicating Binance.US’s situation further.

Impact and Outlook for Binance.US

Currently, Binance.US is unable to onboard new users in several regions and is entirely inaccessible in over 10 states. The exchange has until July 17, 2024, to challenge North Dakota’s decision. However, the outlook remains uncertain, given the mounting restrictions and regulatory pressures.

The relatively short prison sentence for Zhao might suggest a potential course correction within Binance. By prioritizing user safety and adhering strictly to US regulations, Binance.US could potentially regain some lost ground. The exchange’s future hinges on its ability to address regulatory compliance issues effectively.

The Broader Implications

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This regulatory crackdown highlights the evolving landscape of cryptocurrency regulation. While the innovative potential of cryptocurrencies is significant, exchanges must operate within established regulatory frameworks to maintain trust and stability in the market. Binance.US’s struggle will be closely watched by the entire cryptocurrency industry, serving as a cautionary tale for exchanges that prioritize growth over compliance.

Source: bitcoinist.com

The post Binance.US Dealt Another Blow: North Dakota Revokes License appeared first on HIPTHER Alerts.

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