News

European Banking Authority Releases Review of Law on Crypto Assets

Avrupa Bankacılık Otoritesi, Kripto Varlıklarıyla İlgili Yasa Değerlendirmesini Yayınladı

European Banking Authority, crypto issued a law review on its assets and urged the entire European Commission to adopt new rules to enhance consumer protection.

European union Laws Triggering Manipulation, Says EBA

The European Union, called for stricter regulations in the industry, as the Union's main banking regulator the following year cryptocurrency units may be applying a new set of laws.

The European Banking Authority (EBA) has published its assessment of the feasibility and relevance of long-awaited EU law to crypto assets. The report, published on 9 January 2018, analyzed crypto assets and their use in the EU as well as the laws governing them.

According to the report, the crypto currencies are not currently regulated by the EBA, ie consumers in the EU are more prone to manipulation and fraud activities that have shaken the industry since its establishment.

Adam Farkas, general manager of EBA said:

Ere EBA's warnings about virtual currencies continue to apply to consumers and organizations. The EBA calls on the European Commission to assess whether regulatory action is necessary to achieve a common EU approach to crypto assets. E

EuropeanBanking Authority Want More Rules

The EBA is the Union's main banking authority and is responsible for ensuring the implementation of banking and other financial regulations in all EU member states. The European Commission, which constitutes all the EU legislation, will have a difficult year if it intends to comply with all the recommendations of the EBA.

In order to determine the action process that should be done at EU level, the EBA asked for a comprehensive cost-benefit analysis by the EBA.

The EBA report comes at a difficult time for the crypto industry, because it has also added EU pressure to the increasing state pressure on digital assets across the globe. According to the Financial Times, anti-money laundering task forces have long benefited from lack of inability to collect criminals.

In October 2018, the Financial Action Task Force (FATF) said it was the first priority of those aiming to launder money laundering in the crypto industry. The FATF also called on EU countries to increase their controls for crypto-currency exchanges and ICOs, as they are often high-crime areas.

The EBA called for a move by the European Commission to consider the FATF, which could have a significant impact on the sector as a whole. The massive sales, which started the current bear market, were triggered by concerns over increased regulatory scrutiny and the EBA report blockchain and questions about the impact on the crypto currency emerged.

Source: Cryptoslate

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Industry News

SEC Accuses 5 Insiders of BitConnect for Illegal Promotion

SEC, Yasadışı Tanıtım’dan BitConnect İçerisinden 5 Kişiyi Suçladı

About the five people at BitConnect SECIt said it “violated Federal Securities laws.”

The SEC's complaint is that “persons who support the BitConnect Program are sold without registering the Securities with the Commission and registering as a broker-dealer with the Commission as required by law.” BitConnect's lending program is said to encourage people to invest in potential investors, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble, by creating promotional-style videos and posting them on YouTube. It is also claimed that some YouTube channels that make promotions are paid on a commission basis in return for their promotional efforts.

Shortly after his release, Trevon Brown (better known as Trevon James) posted a tweet saying he didn't deny the charges and said the community would "rally" around him.

Real crypto OG's will rally around me.

The real ones that know the truth, and what happened from day 1.

Talk to you guys soon.⏳#FreeTrevon

— Trevon James, Founder of our.glass Crypto (@BitcoinTre) May 28, 2021

Lara Shalov Mehraban, Deputy Regional Director of the SEC's New York Regional Office,

“We will try to hold accountable those who make illegal profits by taking advantage of the public's interest in digital assets”

said.

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Bitcoin News

Who Has The Most Bitcoin (BTC) Savings?

Bitcoin Analizi, Bitcoin 5.700 Doları Geçti!

According to the research result, the Winklevoss twins own 150,000 BTC, but there are names that own more Bitcoin than them…

Blockchain Center, which investigates who owns the largest amount of Bitcoin (BTC); From Winklevoss twins to scammers, from hackers to "zombie coins", he laid out all the data.

On the other hand, the most famous hacking case of the cryptocurrency world, Mt. Gox incident allegedly owned 166,000 BTC.

It is claimed that 30,000 BTC seized from the Silk Road scandal is in the hands of Tim Draper.

Plus Token scammers were said to have 200,000 BTC.

On the other hand, “Zombie coins” are surprisingly plentiful. These tokens we are talking about consist of 1.5 million BTC, which will never be used and will not be spent by anyone forever.

Grayscale's Bitcoin Trust is known as the largest institutional Bitcoin investment vehicle and currently holds over 400,000 BTC of liquidity. Lightning Network only holds 1,000 BTC, while Ethereum (ETH) has another 80,000 BTC locked.

Another 2.5 million Bitcoins are expected to enter circulation over time. Time will tell which other names will be included in this list.

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Blockchain News

National Fisheries Institute and IBM's Blockchain Tracking System Food Trust

Ulusal Balıkçılık Enstitüsü ve IBM’in Blockchain Takibi Sistemi Food Trust

The United States seafood trade association, the National Fisheries Institute (NFI), is working with Food Trust, IBM's blockchain supply chain solution, to monitor FoodOnline's reports on June 11 seafood and food-related news.

In the report, they mentioned the new system for monitoring the type of seafood jointly carried out by multiple companies. In addition, NFI members representing harvesters, importers, cold storage, food service restaurants and retail sales were also included in the program.

IBM's Blockchain Tracking System Food TrustSIRF President's Statement

The project is funded by the Seafood Industry Research Fund (SIRF), whose chairman Sean O'Scannlain said in a statement on developments:

“The tracking system is nothing new to the seafood industry, but we'll test how blockchain is a new concept, with IBM's Food Tracking system, helping seafood businesses earn revenue and reduce costs to customers from harvest to distribution.”

The system also states who can access and how long companies can control data, and who will retain control after the chain is loaded. Raj Rao, IBM Food Trust general manager Food Food Trust can change any sector, especially when we have large ecosystems, businesses and organizations ” He said.

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Source: Cointelegraph