Layer-1 proof-of-stake blockchain Concordium launched a mobile app that allows users to verify their age without disclosing their identity. According to a Tuesday announcement shared with Cointelegraph, the new solution — available as a mobile application for iOS and Android — uses zero-knowledge proofs (ZK-proofs) to allow users to prove their age without revealing their…
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CMB International Securities Limited, a subsidiary of the China Merchants Bank (CMB) — one of China’s top banks — launched a cryptocurrency exchange in Hong Kong. According to a Monday CMB WeChat announcement, the bank has started offering virtual asset trading services. The launch comes after the Hong Kong Securities and Futures Commission approved the…
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A Hong Kong Securities and Futures Commission (SFC) official has warned that the introduction of the new local stablecoin regulatory framework has increased the risk of fraud. According to an Aug. 18 report by Chinese financial news outlet Zhitongcaijing, Ye Zhiheng, executive director of the intermediaries division at the SFC, said that fraud risks have…
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Taiwan’s first publicly traded corporate Bitcoin treasury, Top Win International, raised $10 million to kickstart its BTC accumulation efforts. The luxury watchmaker-turned-Bitcoin treasury announced Friday it raised $10 million from a group of investors led by zipper producer and software company WiseLink. The raise was accompanied by private investments from Chad Koehn, founder and CEO…
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The Bank for International Settlements (BIS) has proposed a provenance-based risk score system for crypto-to-fiat off-ramps. In its Wednesday BIS Bulletin, the institution outlined “an approach to anti-money laundering compliance for cryptoassets,” recommending that a compliance score be assigned to crypto holdings before they are exchanged for fiat currency. “An AML compliance score based on…
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The Hong Kong Securities and Futures Commission (SFC) issued immediately effective guidance on cryptocurrency custody standards, introducing sweeping security requirements and a ban on smart contracts in cold wallet implementations. In a circular released on Friday, the regulator outlined prescriptive controls for licensed custodians of virtual assets. They include requiring a certified hardware security module,…
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Vietnamese state-controlled bank Military Bank (MB) plans to launch a regulated crypto exchange in partnership with Dunamu, the parent company of South Korean crypto exchange Upbit. According to a Wednesday announcement from Dunamu, the company has signed a memorandum of understanding with Military Bank. In a Facebook post, Military Bank said Dunamu will support it…
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Tether and Rumble have announced a proposal for the joint acquisition of all Northern Data shares, taking full control of the artificial intelligence infrastructure company. According to a Monday Rumble announcement, the deal would build on Northern Data’s existing AI and high-performance computing (HPC) operations. Tether, the issuer of the USDt (USDT) stablecoin and already…
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Chinese authorities told local firms to stop publishing research or holding seminars related to stablecoins, according to a Friday report from Bloomberg. Chinese financial regulators reportedly instructed local brokers and other entities to cancel seminars and halt the promotion of research on stablecoins. Citing people familiar with the matter, Bloomberg said the authorities were concerned…
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The European Banking Authority (EBA) has finalized rules requiring banks to hold significantly more capital against so-called “unbacked” cryptocurrencies like Bitcoin and Ether. In its final draft of regulatory technical standards released on Tuesday, the EBA said the rules aim to “address implementation aspects and will ensure harmonisation of the capital requirements on crypto-asset exposures…
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