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Blockchain

Binance Announces Global Advisory Board

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Binance, the world’s largest cryptocurrency exchange by trading volume, is pleased to announce the creation of its new Global Advisory Board (GAB), comprised of distinguished experts in public policy, government, finance, economics, and corporate governance.

The Global Advisory Board, chaired by former US Senator and Ambassador to ChinaMax Baucus, recently convened in Paris, France. The board’s purpose is to advise Binance on some of the most complex regulatory, political, and social issues the entire crypto industry faces as it grows and evolves at a fast pace.

“For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3,” said Binance founder and CEO Changpeng Zhao. “In that time, we’ve tackled complex issues no one even knew existed. We’ve maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users, while keeping a brisk pace of socially-beneficial innovation. The GAB represents the next big step forward in our journey to share the benefits of modern finance and the blockchain with the entire world.”

“Of all the technologies with the potential to create positive disruption, the world of crypto, blockchain, and Web3 is among the most exciting and the most promising,” Baucus said. “That’s why it is a great pleasure to participate in setting up the Binance Global Advisory Board, and bringing the group’s unrivaled collective expertise to bear in solving complex problems with a socially positive outcome.”

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Binance is harnessing the GAB’s unrivaled collective experience and expertise to benefit the sustainable development of the industry as a whole, by weighing in on the toughest and most sensitive regulatory and compliance issues facing crypto, blockchain, and Web3.

“We always put our users first, and that’s served as a very effective North Star for us over the past five years of unprecedented, exciting growth,” Zhao said. “With the GAB, we’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available anywhere in the world. This collaboration between Binance and the leading experts of the GAB is a testament to our focus on compliance, transparency and ensuring a collaborative relationship with the world’s regulators as they develop sensible regulations worldwide.”

The GAB’s roster includes:

Max Baucus

USA

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Former U.S. Ambassador to the People’s Republic of China; Former U.S. Senator Montana; Former Chairman of Senate Committee on Finance

Ibukun Awosika Nigeria

First Female Chairman, First Bank of Nigeria; Founder, The Chair Centre group; Chairman, Nigerian Advisory Board, for Impact Investing and Convention on Business Integrity; Member G7 International Task Force for impact investing; Author of several books

HyungRin Bang Korea

Advisor of the Korea Presidential Committee;  PR/Communications Advisor of Yoon Seuk-Yul’s 2022 Presidential Campaign; Former CEO, SoftForum Inc.; Former Executive Director, Hyundai; Former Executive Director, Samsung;

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Bruno Bézard France

Managing partner of Cathay Capital; Former Economic Advisor to the French Prime Minister; Former Head of the French Treasury; Former CEO of the French Government Shareholding Agency

Leslie Maasdorp South Africa

Vice President and Chief Financial Officer of the New Development Bank. Former MD and President for Southern Africa at Bank of America Merrill Lynch. Former Vice Chairman of Barclays Capital. Former International Adviser to Goldman Sachs.

Henrique de Campos Meirelles
Brazil

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Former Minister of the Economy, Former President of the Central Bank of Brazil, Former Chair of J&F’s board of directors, Former Member of the Board of Directors of Azul Brazilian Airlines, Former President, Bank Boston; Former President of Global Banking, Fleetboston Financial;  Former Board member, Raytheon Corporation, Bestfoods and Champion International. Former Member of the Council of Lloyd’s of London; Former Chairman of Lazard Americas.

Adalberto Palma

Mexico

Honorary Board Member of The Aspen Institute Mexico; Former Senior Advisor at the Chief of Staff Office to the President of Mexico; Director of Business Development at BEworksMX Consulting; Former President of the CNBV; Founding Chairman of The Center for Excellency in Corporate Governance. Independent Director of the Institute for Savings Protection; President of Bankers Trust Mêxico, Colombia and Venezuela; Managing Director of Citibank Mexico.

David Plouffe

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USA

Business, Non-Profit and Political strategist; Author, Member of Various Boards of Directors; Former Campaign Manager Senior Advisor to President Obama in the White House

 Christin Schäfer

Germany

Founder and Managing Director of acs plus; Former Group Risk Operating Officer, Erste Group Bank; Former Global Head of Quantitative Solutions, Deutsche Bank, Member of the Data Ethics Commission, German Federal Government

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Lord Vaizey

UK

Member of the House of Lords; Former Minister and Member of Parliament

David Wright

Europe

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Chair, EUROFI; Former Secretary General, IOSCO, Former European Commission; Deputy Director General Financial markets, European Commission

Blockchain

XChain, VARA’s Exclusive Transaction Monitoring Partner, Readies Rollout for Regional and Global VASPs

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Global digital assets risk monitoring provider XChain, which has been working with Dubai’s VARA since 2022 as its exclusive forensic transaction monitoring partner, has announced the rollout of its services for institutional and retail Virtual Asset Service Providers (VASPs) in the region. The public launch of XChain’s transaction monitoring services will benefit VASPs, and eventually traditional financial institutions venturing into digital assets, offering much needed lifecycle support in areas of crypto oversight, compliance frameworks and transaction monitoring forensics.

By providing the region’s VASPs full visibility on the necessary regulatory and compliance frameworks, XChain aims to solve for key risk factors in on-chain transactions, enabling service providers to ultimately gain real-time insights into their risk metrics. XChain’s early intervention efforts will further establish a reliable and transparent monitoring foundation for VASPs, preparing them for proactive risk management as it relates to their different business models.

Haydn Jones, the newly appointed Managing Director of XChain, said: “With an increasing number of companies looking to tap into UAE’s digital assets industry, we are privileged to continue our work streamlining access to on-chain transaction risk-based analytics. It is therefore imperative for the compliance functions within VASPs to have access to the latest thinking, and we are proud to be at the forefront of blockchain forensics and asset monitoring to build a trusted and reliable framework that offers end-to-end support.”

Matthew White, CEO of VARA commented: “At VARA, we are committed to fostering innovation while ensuring robust regulatory standards for the virtual asset ecosystem. XChain’s rollout of its transaction monitoring services represents a significant step forward in enabling VASPs to operate with enhanced transparency and confidence. We are pleased to collaborate with XChain in setting new benchmarks for regulatory technology, which will not only benefit the digital asset sector but also build bridges with traditional financial institutions exploring this space.”

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Building the Gold Standard in Forensic Transaction Monitoring

VARA and XChain are also working on a regulatory dashboard tool to advance the existing on-chain transaction monitoring standards for the region’s digital assets ecosystem. The dashboard, expected to be launched in beta later this year, will offer real-time on-chain data and open-source intelligence derived from VASPs, enabling such institutions, as well as TradFi and professional services companies dealing with digital assets, to integrate a unified risk monitoring tool that adheres to the gold standard in Virtual Assets Regulatory Technology.

The post XChain, VARA’s Exclusive Transaction Monitoring Partner, Readies Rollout for Regional and Global VASPs appeared first on News, Events, Advertising Options.

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Blocks & Headlines: Today in Blockchain (Chainlink Labs, BlackRock, Fidelity, Dynamite Blockchain)

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Exploring the Frontlines of Blockchain Innovation and Adoption

The blockchain industry continues to shape the future of finance, governance, and technology. Today’s briefing covers a range of key developments, from Australia’s crypto crackdown to Chainlink Labs’ expansion, Nevada’s innovative blockchain-driven electoral security, and updates on institutional Bitcoin adoption.


Australia’s Crypto Shakeup: A Looming Exodus for Blockchain Startups?

Australia’s blockchain and crypto sectors face a tumultuous period as nearly 30% of the country’s crypto-related businesses are projected to close operations by 2024. This decline follows increased regulatory scrutiny and diminishing investor confidence, as outlined in a report by KPMG.

The tightening regulatory environment has fueled debates about whether these measures protect consumers or hinder innovation. Advocates argue that clear regulations are crucial for building trust and stability in blockchain ecosystems, while critics fear they might stifle entrepreneurial spirit in the country.

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This development could serve as a cautionary tale for other nations walking the fine line between fostering innovation and enforcing compliance.

Source: Cointelegraph


Breaking Down Institutional Bitcoin Adoption

Institutional adoption of Bitcoin is on the rise, marking a significant milestone for blockchain’s integration into mainstream finance. A new report reveals how companies are leveraging Bitcoin as a reserve asset, while financial giants explore Bitcoin-backed investment products to attract both retail and institutional clients.

While adoption is accelerating, barriers remain. Regulatory uncertainty, volatility, and infrastructure gaps hinder broader integration. However, with asset managers like BlackRock and Fidelity increasingly embracing Bitcoin ETFs, institutional interest appears to be solidifying the cryptocurrency’s position as “digital gold.”

This trend signifies blockchain technology’s growing legitimacy in traditional financial systems, offering a pathway for further innovation and integration.

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Source: Bitcoinist


Nevada Implements Blockchain for Election Security

In a pioneering move, Nevada has integrated blockchain technology to enhance electoral security and prevent fraud. This development comes in response to a 2020 incident involving fraudulent electors, with blockchain now being used to verify the authenticity of electoral certificates and records.

The immutable and transparent nature of blockchain ensures tamper-proof data integrity, making it an ideal solution for secure electoral processes. Nevada’s initiative could serve as a model for other states and countries grappling with election integrity issues.

By leveraging blockchain for governance, Nevada showcases how this technology can go beyond finance to address critical societal challenges.

Source: 8 News Now

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Dynamite Blockchain Rebrands and Charts a New Path

Dynamite Blockchain has announced a strategic rebranding initiative to align its corporate vision with emerging trends in decentralized finance (DeFi), non-fungible tokens (NFTs), and enterprise solutions. The rebranding effort includes an updated logo, a new corporate mission, and a pivot toward offering scalable blockchain solutions for businesses.

The company’s refreshed focus aims to position Dynamite Blockchain as a leader in enterprise blockchain adoption, helping organizations integrate decentralized solutions seamlessly into their existing frameworks.

This rebranding underscores the importance of adaptability in the rapidly evolving blockchain space, where staying relevant often means redefining one’s identity.

Source: GlobeNewswire


Chainlink Labs Expands to Abu Dhabi Global Market (ADGM)

Chainlink Labs, the developer of the blockchain oracle network Chainlink, has established a new presence in the Abu Dhabi Global Market (ADGM). This strategic expansion aims to tap into the Middle East’s growing blockchain ecosystem and foster collaborations with financial institutions in the region.

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By entering ADGM, Chainlink Labs signals its intent to advance blockchain-powered financial solutions, with a focus on enhancing smart contract utility and adoption. The move also underscores the region’s increasing role as a hub for blockchain innovation.

This expansion reinforces Chainlink’s position as a key player in bridging on-chain and off-chain systems, further enabling the growth of decentralized applications worldwide.

Source: PR Newswire


Emerging Trends and Insights

  1. Regulatory Challenges: Australia’s crypto downturn reflects the broader tension between innovation and regulation, offering lessons for global blockchain players.
  2. Institutional Momentum: The rising adoption of Bitcoin by financial giants suggests a pivotal shift in the role of cryptocurrencies in traditional markets.
  3. Blockchain Beyond Finance: Nevada’s electoral security innovation highlights blockchain’s potential to address societal issues beyond financial services.
  4. Corporate Evolution: Dynamite Blockchain’s rebranding illustrates the industry’s emphasis on staying agile and forward-looking.
  5. Global Expansion: Chainlink Labs’ move into ADGM underscores the Middle East’s emergence as a critical blockchain innovation hub.

Key Takeaways

  • Blockchain’s application in governance and security, as seen in Nevada, demonstrates its potential for societal transformation.
  • Institutional adoption of Bitcoin is solidifying its status as a mainstream financial asset, even amid regulatory hurdles.
  • Strategic rebranding efforts, such as Dynamite Blockchain’s, reflect the dynamic nature of the blockchain industry.
  • Expansions into regions like the Middle East signal blockchain companies’ focus on tapping into emerging markets.

 

The post Blocks & Headlines: Today in Blockchain (Chainlink Labs, BlackRock, Fidelity, Dynamite Blockchain) appeared first on News, Events, Advertising Options.

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Bitget Wallet Partners with YouHodler to Launch Exclusive YHDL Token Airdrop Campaign

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Bitget Wallet Partners with YouHodler to Launch Exclusive YHDL Token Airdrop Campaign

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