Binance and Kraken May Be Operating Unlawfully in New York 1586

New York State Attorney General Barbara Underwood has referred three major cryptocurrency exchanges to the state’s Department of Financial Services (NYDFS) for potential violation of New York’s virtual currency regulations. The exchanges referred are Binance, Gate.io and Kraken. This was revealed in the Virtual Markets Integrity Initiative Report released earlier today by the Office of the New York State Attorney General (OAG).

The report details the concerns initially raised by the OAG about the operations of cryptocurrency exchange platforms, especially regarding security, internal controls, market surveillance protocols, and other relevant consumer and investor protections.

Following the letter, Kraken CEO Jeff Powell responded with strong words, stating that the OAG’s demands showed “disrespect” and “entitlement,” and that the letter showed Kraken made the right call to “get the hell out of New York three years ago.” According to the OAG report, Binance, Huobi, and Gate.io also declined to participate in the initiative, stating that they do not allow trading from New York.

Per the report, the OAG then investigated whether in actual fact these platforms accept no trades from New York State, and based on the results of the investigation, it made the recommendation to forward Kraken, Binance, and Gate.io to the Department of Financial Services for a thorough investigation on possible flouting of the state’s virtual currency laws.

In the document, the OAG bemoans the lack of regulation and supervision within the crypto exchange ecosystem, singling out Kraken for its “alarming” response to the initial letter.

An excerpt from the report reads:

“The OAG could not review the practices and procedures of non-participating platforms (Binance, Gate.io, Huobi, and Kraken) concerning manipulative or abusive trading. However, the Kraken platform’s public response is alarming. In announcing the company’s decision not to participate in the Initiative, Kraken declared that market manipulation “doesn’t matter to most crypto traders,” even while admitting that “scams are rampant” in the industry.”

In another significant move, the report also issued a direct warning to customers trading on the four non-participating exchanges, stating that the platforms may have received payment in exchange for listing digital assets, which should inform customers’ decisions to interact with them in any way.

Previous ArticleNext Article

Leave a Reply

Gate.io Marks 9th Birthday With New Brand Identity 4358

Gate.io, one of the world’s earliest cryptocurrency exchanges and a leader among digital asset platforms, is celebrating its 9th birthday starting today. The company has also announced a brand refresh to better reflect its values and commitments to its users. As part of the revamped brand identity, Gate.io is unveiling a new slogan, color scheme, and logo.

“Gate.io continuously seeks breakthroughs and advancements while remaining steadfast in its determination to help develop and drive progress in the crypto industry. We believe that the new logo and color scheme reflect the lessons we have learned in nearly a decade of service to our users, as we continue striving to create an innovative brand that is open and accessible to everyone around the world.”

Gate.io’s New Brand Identity

Gate.io’s new slogan is “Gateway to Crypto.” One of Gate.io’s X-factors is its diverse range of altcoin options. This slogan, followed by the sentence “Trade over 1,400 cryptocurrencies safely, quickly, and easily”, encapsulates Gate.io’s key features – Gate.io is a global multi-currency platform that anyone in the world can easily access to invest in a myriad of cryptocurrencies. This messaging positions Gate.io as a formidable presence in key new and emerging markets.

Gate.io’s new logo features a 3/4 circle to represent the company’s inclusivity, security, and stability. The logo also has a “block” element, symbolizing blockchains. Together, the circle and block form the letter “G” for Gate.io, showcasing Gate.io’s commitment to embrace the booming blockchain era to create a digital world that combines innovation, reliability, and security.

Moving forward, Gate.io is adopting a new color scheme of blue and green, which portray Gate.io as an inclusive and mature brand with a platform that is equally accessible to everyone.

Gate.io Lite App and Mini App launch

Gate.io is also launching a notable update to its mobile app that allows users to opt for a “Lite App” version within its flagship app, offering streamlined and simplified in-app transactions for crypto trading. Through the Lite App, users can access a suite of essential, basic functions for different crypto assets on the go, such as viewing the market sentiment through easily understandable trend lines, the fiat currency deposit, currency exchange and basic account settings, etc.

The exchange is also launching a Mini App to allow users to navigate third-party crypto applications. The mobile Mini App is now live, while the web version is being fine-tuned. As Gate.io’s range of third-party crypto app partners expands, different categories like online shopping, travel, gift cards, and ticketing can be accessed through the Mini App. This allows users to access multiple services without having to sign up for a third-party merchant account. One of the channels that is already live in the Mini App is the GameFi Centre, where users can enjoy GameBox, a collection of independent games.

Dvision Network Announces Binance Custody as its Custodian with DVI Token Supported 5199

Dvision

In another groundbreaking achievement, the blockchain-based metaverse platform Dvision Network has just announced its official onboarding on Binance Custody. As such, Binance’s custody services arm will support deposits and withdrawals of Dvision’s native token, DVI, on its platform. The support for DVI token on Binance Custody will be provided in a cross-chain manner, adding support for both ERC-20 and BEP-20 versions of the Dvision’s native token.

What is there to know?

Through the Binance Custody’s official Twitter account, it has been announced that it is currently accepting DVI token deposits and withdrawals for Dvision Network on its custody service. Binance Custody’s platform is undergoing an independent SOC 2 audit to validate its operational security. With that in mind, Binance employs safe MPC (multi party computation) to disperse control over client funds, thereby significantly reducing the dangers associated with centralization.

Moreover, Dvision Network has established itself as an initiative that values security and transparency in token administration, having previously offered cold storage services using Coinbase Custody early last year. With the latest announcement concerning Binance Custody, the network looks to expand its global influence and continue to offer safe and exciting products, features, and services.

What benefits do DVI holders get?

Thanks to the aforementioned onboarding, DVI token holders may now safely store their DVI tokens in Binance Custody’s offline, cold storage facility. Furthermore, Binance Custody provides institutional investors with the capability to run a completely compatible storage service that can safely store virtual currencies through the use of cutting-edge technology, security breakthroughs, and innovative procedures.

In addition, Binance Custody announced it had secured cold storage insurance in March. This insurance protects cryptocurrency stored in cold storage against named peril. It is underwritten by Arch Syndicate 2012 at Lloyd’s of London and brokered by the world’s largest independent insurance brokerage Lockton Companies’ specialist team LEAP (Lockton’s Emerging Asset Protection)

About Dvision

Based on blockchain technology, Dvision Network is an NFT metaverse network that aspires to be the greatest in the entire industry. Dvision Network uses its own virtual reality technology to build a cutting-edge metaverse environment, decreasing entry barriers for all types of users globally. As a result, designers, companies, and general users may partake in a truly dynamic and memorable metaverse experience. Visit Dvision’s website, Telegram, Medium, and Twitter channels for additional information and frequent updates.

Popular BTM Operator: Bitcoin of America Welcomes Shiba Inu Coin to Its Bitcoin ATMs 5668

Bitcoin of America has officially announced the newest addition to their Bitcoin ATMs (BTMs). Shiba Inu coin is now available at Bitcoin of America ATM locations. Bitcoin of America has more than 1800 BTMs across 31 states. They recognized the growing popularity of Shiba Inu and decided it was time to include it in their BTMs. Bitcoin of America also offers Bitcoin, Litecoin, and Ethereum options. This news comes after their recent addition of Dogecoin in March of this year.

Bitcoin of America is a popular virtual currency exchange registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). They are known for their top-of-the-line customer support while also providing a fast and hassle-free transaction.

Bitcoin of America makes it easy for everyday businesses to get their hands on a Bitcoin ATM and for customers to buy Bitcoin. They take care of their host locations by providing passive income, increased foot traffic, and marketing. They even handle customer support and any maintenance/installation services.

The popular operator has made many updates to its BTMs and services over the past year. They launched their universal kiosks, which operate as a traditional ATM combined with BTM functions. Bitcoin of America has created a point-of-sale system for their tablet program, which has allowed businesses to accept cryptocurrency as a new form of payment. Bitcoin of America is constantly expanding and improving its services.

Data Mynt Payment Processing Platform Now Supports Bitcoin Payments 5658

Data Mynt, a leading provider of simple, stable cryptocurrency payment products, now enables payments over the Bitcoin network, which already supports roughly 225,000 transactions per day and $30 billion USD dollar equivalent volume per day worldwide (as of publishing).

Data Mynt merchants and partners join the 15,000 retailers that accept Bitcoin today, making it the world’s most widely used digital asset for payments. Retailers include Twitter, Whole Foods and Overstock.com.

Now the Data Mynt payment processing platform enables payments from any wallet and asset across the $2 trillion combined market cap (as of publishing) available to make a payment over the Bitcoin, Ethereum Mainnet and Polygon networks.

The Data Mynt payment processing solution enables merchants and enterprises to expand their payment options for their customers and partners. At the same time, it reduces payment processing costs and eliminates frictions such as chargebacks and crypto price volatility.

“As a payment processor, it only makes sense for us to enable our merchants and partners to accept what the world already accepts—the biggest cryptocurrency,” noted Data Mynt CEO Alex Christian. “Almost one-quarter of the US population owns Bitcoin. Many other countries such as Brazil, Indonesia, UAE, Singapore, Israel, India, Mexico, and South Africa have even higher adoption rates. Data Mynt merchants can feel good knowing they offer these Bitcoin owners another payment option.”

The dedicated Data Mynt global sales team began rolling out its payment platform in Q1 of 2022.

About Data Mynt

Data Mynt is a leading crypto payment processor. Its wallet, asset and blockchain-agnostic suite of solutions offer partners and merchants an omnichannel approach to accepting on-chain crypto payments free from volatility and the risks and costs of traditional payment methods. The Data Mynt payment platform is also designed to streamline implementation delivering a seamless customer experience. DataMynt.com

NEXT SHIB: Next generation MEME token about to go public! 6635

Next shib

DeFi’s newest cutest meme token announces the launch of its public sale. The mascot of the new, ultra-fast ultra-cheap NEXT Smart Chain has arrived.

Deflationary on every transaction (5%) and with no other tax, no team tokens, and starting with a very low market cap, this meme token is lifting off to visit its Nextronaught NFT siblings in orbit (#Nextronaughts are coming down to play in the #Nextverse very soon!).

In recent years meme tokens have emerged to become more popular than many mainstream cryptocurrencies, thanks to their unique mass appeal. NEXT SHIB is the newest entrant into the meme coin space so far ruled by DOGE and Shiba Inu. The tokenomics and the underlying operations of NEXT SHIB, however, differ vastly from the rest of the meme coins, powering NEXT SHIB with rocket fuel. The token follows a deflationary model where the total supply of 100 billion tokens deflates every time a transfer is made, but with no other reservation of tokens for any purpose other than to permanently lock its liquidity (yes permanently!). It also has a low initial market cap of less than $500K.

This ensures a steady growth in value and wealth accumulation possibility for early adopters. The private presale was a success and the public sale opened today, until the end of January. NEXT SHIB token is available on the Ethereum Network (ETH), Binance Smart Chain (BSC), and on its own native NEXT Smart Chain (NSC).

The blockchain built for scalability

The NEXT Smart Chain is a third-generation blockchain network that has clear advantages over Ethereum and Binance Smart Chain. With a clever combination of Directed Acyclic Graphs (DAG) and Byzantine Fault Tolerance (BFT) technologies, the network manages to achieve a speed of 300000 transactions per second (yes 300K tps) and a persistently low transaction cost of circa $0.0001 per transaction – the lowest fees in the current market.

NEXT Smart Chain is fully compatible with the Ethereum Virtual Machine (EVM), so all ERC-20 tokens and decentralized applications can function on the NEXT Smart Chain (yes – all DAPPS will just work). Just like NEXT SHIB, the NEXT Smart Chain (ticker: NEXT) has a very low market cap of less than $1 million and a fixed token supply of 30.3 million NEXT, while its competitors reach over $1 billion in market cap.

The unmatched scalability and transaction speeds offered on this blockchain make it the ideal network to deploy the next generation of NFT and NEXT Metaverse projects. With NFT gaming and trading within the Metaverse becoming the highly anticipated products of Web3, projects using NEXT Smart Chain will be poised to uniquely benefit from its robust underlying architecture to provide a healthy user experience to early adopters. The smart chain will launch with over 200 independent validators, making it a very decentralized and secure blockchain.

With the launch of the NEXT SHIB once the public sale completes, NEXT Smart Chain will transform the market as a center of excellence for metaverse innovations & crypto projects.

The future is bright – come and see what’s NEXT !!

Website | Twitter | Discord | Telegram

Popular BTM Operator Bitcoin of America Wins Silver in 11th Annual Best in Biz Awards 7915

Bitcoin of America has been named a silver winner in the Company of the Year – Midwest category in Best in Biz Awards, the only independent business awards program judged each year by prominent editors and reporters from top-tier publications in North America. Bitcoin of America is a popular virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). Apart from ensuring a fast and hassle-free transaction, their customer support makes them the best in the industry.

Bitcoin of America has demonstrated rapid growth. In June of this year, Bitcoin of America’s Chief Financial Officer reported record company growth. In January, the company had a total of 630 Bitcoin ATMs. To date, they have seen a 138.095% increase in their number of locations. They even hit a major achievement of 1500 plus BTMs. Bitcoin of America has also seen enormous growth in their number of employees. In just one year their team grew over 32 percent.

Bitcoin of America also added new products, services, and even updates to their BTMS. In May, they announced the launch of their new universal kiosk. The kiosk combines the capabilities of a traditional ATM with a Bitcoin ATM. The universal kiosk is known to offer 3 different functions. The first is the traditional ATM feature where customers can dispense cash from a debit card. The second function is being able to buy bitcoin or other cryptocurrencies with cash. The last is that customers can sell crypto in return for cash. This is huge for business owners. These universal kiosks are bringing stores additional revenue streams, while also saving floor space. They also announced that Ethereum would be available for customers to purchase from any of their locations.

Besides offering cryptocurrency services to customers, Bitcoin of America has helped hundreds of businesses across the United States. Bitcoin of America offers a host program for store owners who are interested in cryptocurrency or are just looking to earn extra income. They take care of their host locations by providing them with passive income, increased foot traffic, and marketing. They even handle customer support and any maintenance/installation services.