TL;DR Breakdown U.S. Rep. French Hill and Rep. Dusty Johnson have written a letter to SEC Chairman Gary Gensler about crypto. The lawmakers criticize the SEC’s approach to ‘regulate by enforcement’, stating it causes confusion and doesn’t adequately protect the public. The letter highlights their efforts to close regulatory gaps through bills such as the Clarity for Digital Tokens Act and the Digital Commodity Exchange Act. Description In an effort to smooth out the path for cryptocurrency regulation, U.S. Rep. French Hill, Vice-Chairman of the House Committee on Financial Services Republicans and Subcommittee Chairman, has penned a letter to Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC). This is in line with the rising trend of lawmakers keen on … Read more In an effort to smooth out the path for cryptocurrency regulation, U.S. Rep. French Hill, Vice-Chairman of the House Committee on Financial Services Republicans and Subcommittee Chairman, has penned a letter to Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC). This is in line with the rising trend of lawmakers keen on…

TL;DR Breakdown Reddit’s Moons token has registered a massive increase in two days after listing on Crypto.com. Users believe the token will become a growing force. Description The native token of cryptocurrency enthusiasts on Reddit, known as Moons, has witnessed a dramatic surge in price following its listing on Crypto.com. The token’s value has soared for two consecutive days, with an impressive 141% increase in a single day, reaching a trading price of $0.41. Moons had already experienced significant gains earlier when … Read more The native token of cryptocurrency enthusiasts on Reddit, known as Moons, has witnessed a dramatic surge in price following its listing on Crypto.com. The token’s value has soared for two consecutive days, with an impressive 141% increase in a single day, reaching a trading price of $0.41. Moons had already experienced significant gains earlier when news of a potential listing on the Kraken crypto exchange surfaced. Moons token registers a 141% increase in one day Crypto.com’s decision to support Moons adds yet another prominent exchange to the list, alongside MEXC, Gate.io, SushiSwap, and RCP Swap….

TL;DR Breakdown Meta and Microsoft have teamed up to launch Llama 2, an open-source language model. Analysts discuss the challenges and opportunities in the AI space. Description Big Tech companies Meta and Microsoft have joined forces to unveil Llama 2, a cutting-edge open-source large language model (LLM) developed by Meta. The announcement, made on July 18, revealed that Llama 2 is set to be integrated into Microsoft’s Windows operating system and cloud computing platform, Azure. This collaboration aims to empower businesses and … Read more Big Tech companies Meta and Microsoft have joined forces to unveil Llama 2, a cutting-edge open-source large language model (LLM) developed by Meta. The announcement, made on July 18, revealed that Llama 2 is set to be integrated into Microsoft’s Windows operating system and cloud computing platform, Azure. This collaboration aims to empower businesses and researchers to build innovative applications leveraging Meta’s AI technology stack, while also optimizing Llama 2 for seamless compatibility with Windows. Meta cites improvement in Llama 2 compared to its predecessor Meta, formerly known as Facebook, disclosed that Llama 2 has…

TL;DR Breakdown Russia is initiating a digital Ruble pilot, despite economic challenges and international isolation from the Ukraine conflict. The Federation Council has passed legislation approving the digital Ruble. Tests may begin next month. The digital Ruble could ease cross-border payments and increase internal transaction transparency. Description As the global economy steers towards digitization, Russia propels its own monetary evolution by piloting the digital Ruble, an innovation maneuvered in the midst of formidable economic obstacles. Overcoming international isolation due to the Ukraine conflict, Russia’s journey into the digital currency realm manifests the nation’s resilience and strategic foresight. The launch of Russia’s digital … Read more As the global economy steers towards digitization, Russia propels its own monetary evolution by piloting the digital Ruble, an innovation maneuvered in the midst of formidable economic obstacles. Overcoming international isolation due to the Ukraine conflict, Russia’s journey into the digital currency realm manifests the nation’s resilience and strategic foresight. The launch of Russia’s digital ruble The blueprint for Russia’s digital currency received a green light from the Federation Council, Russia’s upper house of parliament….

TL;DR Breakdown Forge, a subsidiary of Société Générale, has become the first fully-licensed crypto provider in France. The company can now custody digital assets, trade them, and sell them for legal tender. Société Générale has been active in crypto, issuing bonds on blockchain and launching a euro-pegged stablecoin. Description France’s cryptocurrency scene is undergoing a significant transformation. The powerhouse banking entity, Société Générale, has propelled its subsidiary, Forge, to a pioneering status in the crypto landscape. Forge recently became the first-ever company in France to receive the highest access license for offering cryptocurrency services, a crucial development in the country’s digital asset industry. Navigating … Read more France’s cryptocurrency scene is undergoing a significant transformation. The powerhouse banking entity, Société Générale, has propelled its subsidiary, Forge, to a pioneering status in the crypto landscape. Forge recently became the first-ever company in France to receive the highest access license for offering cryptocurrency services, a crucial development in the country’s digital asset industry. Navigating the crypto frontier in France Forge’s groundbreaking achievement has elevated it to the upper echelons of the cryptocurrency…

TL;DR Breakdown The UK’s FCA stands firm on crypto regulation, unswayed by company size. FCA warns crypto firms of strict action for non-compliance with new promotion rules. Description The UK’s Financial Conduct Authority (FCA) has sent a clear message to the cryptocurrency industry: meeting anti-money laundering requirements is mandatory, irrespective of a company’s size or market share. In a recent Treasury Select Committee hearing, FCA CEO Nikhil Rathi emphasized that the organization remains unbiased in granting regulatory approvals to crypto firms. The firm’s … Read more The UK’s Financial Conduct Authority (FCA) has sent a clear message to the cryptocurrency industry: meeting anti-money laundering requirements is mandatory, irrespective of a company’s size or market share. In a recent Treasury Select Committee hearing, FCA CEO Nikhil Rathi emphasized that the organization remains unbiased in granting regulatory approvals to crypto firms. The firm’s size or influence in the crypto market does not guarantee them an automatic ticket to operation. Over the past two years, the FCA has received over 300 applications from cryptocurrency firms wishing to operate in the country. Despite the…

TL;DR Breakdown Ubisoft has announced the addition of Cronos blockchain as a validator to expand its gaming presence. The platform continues to grow rapidly in the gaming sector. Description Video game behemoth Ubisoft is making significant strides in the flourishing NFT gaming space, adding yet another blockchain network to its roster as a validator. In an announcement, the firm revealed its support for the Cronos network, where it will operate a node on the open-source blockchain that is interoperable with Ethereum and Cosmos. Ubisoft … Read more Video game behemoth Ubisoft is making significant strides in the flourishing NFT gaming space, adding yet another blockchain network to its roster as a validator. In an announcement, the firm revealed its support for the Cronos network, where it will operate a node on the open-source blockchain that is interoperable with Ethereum and Cosmos. Ubisoft will play a new role on the Cronos network As the creator of iconic gaming franchises like Assassin’s Creed and Just Dance, the firm will play a crucial role in producing and confirming new blocks on the Cronos…

TL;DR Breakdown The U.S. Senate’s new bill aims to impose strict anti-money laundering rules on DeFi protocols. Those who control or invest significantly in DeFi protocols must implement bank-like controls and report suspicious activities. The bill proposes greater Treasury Department oversight over crypto transactions, potentially ending an era of unregulated crypto activities. Description The U.S. Senate is preparing to reshape the landscape of the crypto industry with a proposed bill, the Crypto-Asset National Security Enhancement Act of 2023. This bill will primarily impose stringent anti-money laundering (AML) requirements on decentralized finance (DeFi) protocols, which are financial applications that enable borrowing, lending, and trading of cryptocurrency via smart contracts. … Read more The U.S. Senate is preparing to reshape the landscape of the crypto industry with a proposed bill, the Crypto-Asset National Security Enhancement Act of 2023. This bill will primarily impose stringent anti-money laundering (AML) requirements on decentralized finance (DeFi) protocols, which are financial applications that enable borrowing, lending, and trading of cryptocurrency via smart contracts. These applications, which exist on permissionless blockchains, have been historically challenging to regulate due…

TL;DR Breakdown Binance completes its 24th quarterly burn of BNB tokens, destroying 1.99 million tokens worth $44.61 million. The burn aims to reduce the overall circulating quantity of BNB tokens and increase their potential value. Binance aims to reach 100,000,000 BNB tokens by implementing deflationary measures. Description Binance, one of the leading cryptocurrency exchanges, has completed its 24th quarterly burn of its native BNB coins. This strategic move was executed through the BNB Automatic Burn mechanism, aimed at reducing the overall circulating quantity of BNB tokens and increasing their potential value. The burn event witnessed the permanent destruction of 1.99 million BNB … Read more Binance, one of the leading cryptocurrency exchanges, has completed its 24th quarterly burn of its native BNB coins. This strategic move was executed through the BNB Automatic Burn mechanism, aimed at reducing the overall circulating quantity of BNB tokens and increasing their potential value. The burn event witnessed the permanent destruction of 1.99 million BNB tokens, equivalent to approximately $44.61 million, at an average price of $310.99 per token. This latest burn demonstrates Binance‘s ongoing…

TL;DR Breakdown Telegram CEO Pavel Durov reveals personal investments in Bitcoin and Toncoin. Telegram boasts over 800 million monthly active users and 2.5 million daily sign-ups. Telegram issues $270 million in bonds to expedite development and achieve profitability. Description Telegram CEO Pavel Durov, in a recent interview, revealed his investments in the cryptocurrency market, including Bitcoin (BTC) and Toncoin (TON), alongside significant developments within his company. As the CEO expressed his enthusiasm for Telegram’s growth and financial prospects, he also disclosed his purchase of 25% of freshly issued Telegram bonds, further solidifying his commitment … Read more Telegram CEO Pavel Durov, in a recent interview, revealed his investments in the cryptocurrency market, including Bitcoin (BTC) and Toncoin (TON), alongside significant developments within his company. As the CEO expressed his enthusiasm for Telegram’s growth and financial prospects, he also disclosed his purchase of 25% of freshly issued Telegram bonds, further solidifying his commitment to the company’s progress. Durov’s message on the official Telegram channel on Tuesday highlighted the remarkable success of the instant messaging service, with a staggering user base of…