Blockchain
CrossTower launches G-Coin® Digital Gold in the US
CrossTower Inc. (“CrossTower”), one of the world’s fastest-growing crypto and digital asset exchanges, has introduced the G-Coin digital gold token (GCOIN) for its U.S. customers. Unlike cryptocurrencies, the G-Coin token is a digital title of ownership to 99.99% pure physical gold that is stored in secured vaults. All tokens thus give buyers ownership of the underlying physical gold, rather than exposure to gold’s price. Tokens combine the best qualities of traditional gold – stability, security, and value – with the benefits of digital innovation. Following its launch in the U.S. in 2019 through G-Coin’s proprietary G-Wallet, GCOIN is now available for trade on the CrossTower platform in the United States, along with cryptocurrencies such as Bitcoin, Ethereum and USD Coin.
2021 marked a year of unprecedented inflation for the US dollar, causing more and more consumers to seek out alternative forms of wealth preservation, including cryptocurrencies and gold. GCOIN is thus a timely product for the market. Customers can buy and sell GCOIN online safely, securely, and seamlessly. Tokenization enables users to purchase a digital title of ownership to gold conveniently and in smaller quantities than is typical in the physical gold market. GCOIN can be bought and sold with and for BTC, ETH and USD.
Moreover, the physical gold – Responsible Gold™ – is produced by miners and refiners who conform to the highest environmental, social, and governance standards. Tracked from mine to vault on blockchain technology, Responsible Gold™ provides the ultimate assurances of provenance, chain of custody, and 99.99% purity.
Kapil Rathi, Chief Executive Officer and Co-Founder of CrossTower said, “Millennials and youth are tapping into the crypto sector and demand, education, and interest in this sector is on the rise. To boost this, CrossTower is adding this unique option to buy and trade GCOIN. In addition, G-Coin provides transparent information to the buyer on where the underlying gold is mined, its ESG principles, and where GCOIN is stored. CrossTower is proud to take on the opportunity to enable every individual to own this popular, traditional asset in a new digital and ESG compliant form.”
“To own GCOIN is to own gold,” said Brent de Jong, Chairman and Founder of G-Coin. “Our partnership with CrossTower, a global leader in digital asset trading, will enable traders keen to manage cryptocurrency volatility and avoid the burden of physical storage, to purchase GCOIN as a natural hedge for their portfolios. Blending asset classes to maximize return and minimize volatility is critical and GCOIN provides an alternative to enhance portfolio performance through stability, liquidity, and effective diversification. We see gold as a powerful wealth protector and creator, and we’ve made it our mission to make it accessible as a savings tool and also to give it additional utility as a medium of exchange”.
With the G-Wallet, users can unlock G-Coin’s full functionality to send or gift gold to friends, family, and other G-Wallet holders instantaneously and at zero cost. A G-Coin debit card will allow users to spend GCOIN for merchant transactions.
CrossTower is a global thought-leader and a participant of the Internet and Mobile Association of India (IAMAI), Blockchain and Crypto Assets Council (BACC), Global Digital Asset and Currency Association (Global-DCA) and the Digital Asset Regulatory Legal Alliance (DARLA). Through these organizations, CrossTower facilitates policy that will enhance the development and innovation of finance while emphasizing the protection and safety of customers’ assets.
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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