Meta Ending Crypto Project Novi After Mark Zuckerberg Unveiled Metaverse Digital Wallet

Meta Platforms, formerly Facebook, has announced the end of its crypto project Novi. Users are advised to withdraw funds as soon as possible. The announcement followed the introduction of a digital wallet for the metaverse, announced by Meta CEO Mark Zuckerberg. Crypto Project Novi Ending Facebook owner Meta Platforms Inc. (Nasdaq: META) announced Friday that its crypto project pilot Novi “is ending soon.” According to its website: Novi will no longer be available for use after September 1. In Friday’s announcement, Meta explained that starting July 21, users will no…

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US Regulator Charges South African MTI and Its Operator With $1.7 Billion Fraud Involving Bitcoin

US Regulator Charges South African MTI and Its Operator With $1.7 Billion Fraud Involving Bitcoin

The U.S. Commodity Futures Trading Commission (CFTC) has charged Mirror Trading International (MTI) and its operator with a $1.7 billion fraud involving bitcoin. This action is the regulator’s largest fraud scheme case involving the cryptocurrency. CFTC Takes Action Against MTI The CFTC announced Thursday that it has charged a “South African pool operator and CEO with $1.7 billion fraud involving bitcoin.” The regulator added: This action is CFTC’s largest fraud scheme case involving bitcoin. The derivatives watchdog has filed a civil enforcement action, charging Cornelius Johannes Steynberg and Mirror Trading…

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Argentinian Tax Agency Ramps Up Digital Wallet Seizures

Argentinian Tax Agency Ramps Up Digital Wallet Seizures

The Argentinian Tax Agency, the AFIP, has ramped up the seizures of digital wallets of taxpayers in the country. The institution managed to seize more than 1,200 digital wallets of taxpayers that had debts and didn’t have a bank account, or other properties available to be collected by the courts. While the organization has yet to order crypto-related seizures, this could be possible in the future. Argentinian Tax Agency Seizes More Than 1,200 Digital Wallets Tax regulators around the world are becoming more and more aware of the different ways…

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Can Xchange Monster (MXCH) Become Crypto Giants Like Binance Coin (BNB) and Cardano (ADA)?

Can Xchange Monster (MXCH) Become Crypto Giants Like Binance Coin (BNB) and Cardano (ADA)?

PRESS RELEASE. The cryptocurrency industry has certainly become oversaturated with hundreds of crypto projects being established everyday with many of them failing before ever reaching any significant milestone. The mass success of the industry has led to many believing they can achieve that very same amount of success despite not putting in as much work or providing as many solutions for users in the crypto space. The likes of Binance Coin (BNB) and Cardano (ADA) has long been established as two of the most influential cryptocurrencies and have both reigned…

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Colombia Takes First Steps Toward Regulating Cryptocurrency Exchanges

Colombia Takes First Steps Toward Regulating Cryptocurrency Exchanges

The Congress of Colombia has approved a bill that regulates the behavior of cryptocurrency exchanges in the country in its first discussion, taking the first steps to bring clarity to this issue. One of the creators of the bill, Mauricio Toro, a representative of the Green Party, stated that this bill is needed to protect users from Ponzi schemes, giving them security in the crypto world. Colombia Gets on the Crypto Regulation Road More and more countries in Latam are realizing the growth and influence crypto and crypto-related businesses are…

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KryptoPips Creates the World’s First Multi-Broker Rewards Coin to Reward Various Trading Activities and Deliver Client Value

KryptoPips Creates the World’s First Multi-Broker Rewards Coin to Reward Various Trading Activities and Deliver Client Value

PRESS RELEASE. KryptoPips, the world’s first multi-broker rewards coin, allows brokers to reward their clients for participating in various trading activities. As key drivers of customer loyalty, the rewards coins will enable brokers to acquire new customers and maintain existing ones, thereby growing the brand. The reward coins can help boost business and incentivise trading activity throughout the year. It offers a customisable multiple-level rewards system to deliver a robust client loyalty program for global brokerages. A number of intended partnerships are set to be announced in the coming weeks,…

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Localbitcoins User Pleads Guilty to Running Unlicensed Crypto Business — Faces Up to 5 Years in Prison

Localbitcoins User Pleads Guilty to Running Unlicensed Crypto Business — Faces Up to 5 Years in Prison

A cryptocurrency trader has been convicted in the U.S. for operating an unlicensed money-transmitting business using Localbitcoins and Paxful. He faces up to five years in federal prison and a possible $250,000 maximum fine. Crypto Trader Pleads Guilty The U.S. Department of Justice (DOJ) continues to take action against crypto traders using services such as Localbitcoins and Paxful to buy and sell cryptocurrencies as a business without a license. The latest such case involved Hien Ngoc Vo, a 49-year-old man from Seattle, Washington, who operated an unlicensed crypto business in…

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2TM Group, Parent Company of Mercado Bitcoin, Lays off 90 Workers Amid Market Cool Down

2TM Group, Parent Company of Mercado Bitcoin, Lays off 90 Workers Amid Market Cool Down

2TM Group, a Latam unicorn and parent company of Mercado Bitcoin, a Latam-based cryptocurrency exchange, has announced it will execute a series of layoffs due to the current market cooldown. The company declared that this action was motivated by the recent global financial scenario changes, making it reconsider its position, and reducing its operative expenses. 2TM Group Lays off 90 Employees Several companies at a worldwide level and also in Latam are preparing for the negative changes that several analysts have predicted will happen in the market. 2TM Group, a…

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Veteran Investor Mark Mobius Expects Bitcoin to Fall Further — Cautions Crypto Traders Against Buying the Dip

Veteran Investor Mark Mobius Expects Bitcoin to Fall Further — Cautions Crypto Traders Against Buying the Dip

Veteran investor Mark Mobius, the founder of Mobius Capital, has cautioned cryptocurrency traders against using the “buy the dip strategy.” He expects the price of bitcoin to plunge further with some temporary relief happening at $20K. Mark Mobius’ Warning and His Bitcoin Price Prediction The founder of Mobius Capital Partners, Mark Mobius, warned crypto traders about buying the dip in an interview with Financial News Friday. He also shared his price prediction and future outlook for bitcoin. Prior to starting his own company, Mobius was executive chairman of Templeton Emerging…

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US Banking Giants Goldman Sachs and JPMorgan Wind Down Business in Russia

US Banking Giants Goldman Sachs and JPMorgan Wind Down Business in Russia

Global investment banks Goldman Sachs and JPMorgan Chase are winding down business in the Russian Federation. The move comes as western sanctions against Moscow over its decision to launch a military invasion of Ukraine continue to expand, supported by leading financial institutions. Goldman Sachs and JPMorgan Scale Down Russian Operations Goldman Sachs Group and JPMorgan Chase have become the first major American banks to announce they are leaving Russia, a process that according to industry experts may take months if not years. Their decisions follow the imposing of unprecedented sanctions…

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