Connect with us
https://tickernews.co/wp-content/uploads/2023/09/FOR-THE-NEXT-GEN.jpg

Crypto

Regulation warning for all crypto investors

Published

on

Cryptocurrency is gaining popularity with nations like El Salvador embracing digital coins

However, the sector remains mostly unregulated, and there’s a new warning for those wanting to invest.

In a world turning to digitalisation, cryptocurrencies are on the trend. They’re volatile, and just a single tweet by Elon Musk can see them rise or fall.

As more people start investing there remains plenty of talk around risks associated with cypto – and how regulated it really is. 

Nations around the world are working through regulatory framework, including in most recent weeks, The European Union

The EU’s framework for regulating crypto is one step closer to ratification.

Last week the European Council, which sets the EU’s political agenda, adopted its position on the Markets in Crypto Assets framework, according to a statement on its website. 

This means that the Council and the European Parliament can now enter into negotiations on the proposal for regulation before it is formally adopted as law. 

But in most recent weeks the spotlight’s been on Australia – after the countries biggest bank made a bold move. 

As more younger Australians choose cryptocurrency investments to fast-track their savings, The Commonwealth Bank, now wants a slice of the pie.

CBA’s head of retail banking, Angus Sullivan, says the bank is now setting up its own pilot platform to buy, sell and hold cryptocurrencies.

So – as popularity grows – could we see more banks around the world like HSBC, CITIBANK OR ANZ join the party? 

Within Australia,  legal framework for cryptocurrency investments appears to be in the works

The industry made hundreds of submission to a Senate Select Committee chaired by Liberal MP Andrew Bragg looking into how to tighten up the industry, however while players in the cryptocurrency industry say they want more regulation, history shows investors respond poorly to new rules.

In November 2019, the price of Bitcoin crashed when China accelerated a crackdown on cryptocurrency businesses.

In most recent weeks India now plans to join China – proposing a ban on private cryptocurrencies. 

It follows – just months ago – a major scam linked to the popular Netflix series Squid game – where someone on the internet created SQUID COIN and soon later took off with millions of dollars from those that invested in it. 

Cryptocurrencies are known for their wildly unpredictable price fluctuations, damage to the environment and use by criminals to try to disguise illegal activities, such as money laundering.

The boss of the CBA says One of the biggest risks banks face when it comes to cryptocurrencies is being left out of the market altogether.

You can learn more about the world of cryptocurrencies on our episode of Turning Point tonight as Ahron Young speaks to top executives from Crypto.com

Tune in for that episode – at 6:30 PM AEDT right here on ticker news or catch up on Turning Point with Ahron Young on demand here

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

Continue Reading

Crypto

Why is the world’s largest crypto exchange battling U.S. regulators?

Published

on

U.S. regulators have filed charges against Binance, the world’s largest crypt exchange

Is the idea of a financial world that operates outside of the global banking system and eludes the reach of regulations a possibility or a pipe dream?

The Securities and Exchange Commission has filed 13 charges against the Bianace, world’s largest crypt exchange and its billionaire founder, Changpeng Zhao.

The SEC alleges that the crypto exchange worked to attract U.S. customers to its unregulated international exchange, commingled investor funds with their own and violated securities laws.

In addition, the SEC is also alleging that Binance and Zhao used market-making companies—that they controlled—to inflate trading prices and profit from of their customers.

Zhao has publicly dismissed the allegations.

Stefan Rust, the former CEO of Bitcoin.com joins us to discuss. #crypto #cryptocurrency #StefanRust #veronicadudo #Binance #ChangpengZhao

Continue Reading

Crypto

Is the metaverse the future of social network?

Published

on

U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.

 
#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto

Continue Reading

Crypto

Who will win the global metaverse race?

Published

on

China is looking to invest in the metaverse market as numerous cities rollout policy proposals.

Technology continues to change our lives forever.

As new advancements are released to the public—safety continues to be a major concern.

People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.

While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.

Analysts say it’s the next evolution in social connection and the successor to the mobile internet.

According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.

China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.

This comes after tense year of regulatory scrutiny on the countries tech sector.

The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.

The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.

So, is the metaverse taking the world by storm?

Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now

Copyright © 2023 The Ticker Company