Do you think Binance listing will push TON price up?
Anonymous Poll
72%
Yes
19%
It's already growing
10%
I don't think so
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🇮🇳 India will release new crypto regulation proposal in September
🥻 This country has already overtaken China in terms of population (1,417 bln people). Cryptocurrencies are legal here and there is a procedure for VASP registration - more than 30 companies registered.
🧾 Probably the most unpleasant part of regulation for local exchanges, which holds back their development is the tax on any crypto transactions (TDS) - 1%. Local exchanges, including the three largest (CoinDCX, WazirX and CoinSwitch) suggested the government in July to abolish this tax, but it remained unchanged.
📝 Instead, local regulators are preparing joint crypto regulation report to be released in September. I wrote more about this topic in the article published on Hackernoon.
🥻 This country has already overtaken China in terms of population (1,417 bln people). Cryptocurrencies are legal here and there is a procedure for VASP registration - more than 30 companies registered.
🧾 Probably the most unpleasant part of regulation for local exchanges, which holds back their development is the tax on any crypto transactions (TDS) - 1%. Local exchanges, including the three largest (CoinDCX, WazirX and CoinSwitch) suggested the government in July to abolish this tax, but it remained unchanged.
📝 Instead, local regulators are preparing joint crypto regulation report to be released in September. I wrote more about this topic in the article published on Hackernoon.
Hackernoon
India: the Biggest Crypto Market Enables New Regulations Soon
With more than 1.4 billion citizens, India is the country with the biggest population, where crypto regulation and rules for VASPs already exist.
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🇪🇺 Is EU losing Tether?
💵 Tether CEO Paolo Ardoino claimed recently that MiCA regulation causes a "systemic risk”. Ardoino considers the EU requirement to hold up to 60% of stablecoin reserves in local banks dangerous, citing the bankruptcy of Silicon Valley Bank, which caused USDC to depeg, as an example of the risk involved. In the EU, this risk is amplified since banks only guarantee deposits of up to €100,000 - a ridiculously low figure for Tether's reserves.
🧮 In addition to tightening crypto regulations in Europe, there is a trend of raising taxes that affect foreign investors. Switzerland is introducing a 50% inheritance tax, Italy is increasing a flat fee for foreign income tax exemption. Portugal abolished its NHR regime last year. This looks like a long-term trend.
💵 Tether CEO Paolo Ardoino claimed recently that MiCA regulation causes a "systemic risk”. Ardoino considers the EU requirement to hold up to 60% of stablecoin reserves in local banks dangerous, citing the bankruptcy of Silicon Valley Bank, which caused USDC to depeg, as an example of the risk involved. In the EU, this risk is amplified since banks only guarantee deposits of up to €100,000 - a ridiculously low figure for Tether's reserves.
🧮 In addition to tightening crypto regulations in Europe, there is a trend of raising taxes that affect foreign investors. Switzerland is introducing a 50% inheritance tax, Italy is increasing a flat fee for foreign income tax exemption. Portugal abolished its NHR regime last year. This looks like a long-term trend.
YouTube
Are Exchanges Delisting USDT? | Tether CEO Interview
Paolo Ardoino, the CEO of Tether, discusses the latest global market turmoil and explains how Tether can offer protection to the global middle class. He also criticizes the MiCA regulation for stablecoins and shares his views on Trump’s plan to create a Bitcoin…
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🇹🇷 Türkiye softens visa procedures for real estate owners
🏡 Owners of any real estate in Türkiye can now get a tourist residence permit via a program that officially existed for several years, but was practically stopped in 2023. This type of residence permit gives tax benefits in the country.
💻 Türkiye has also launched a digital nomad visa program and has an investment citizenship procedure for purchase of real estate worth more than $400,000.
📝 Recently, Türkiye adopted new crypto regulations. 47 legal entities have already applied for a license. Crypto exchange stays legal and foreign entities will continue to operate in the country.
✈️ Last but not least, Türkiye has a large Telegram community - about 10 million users - and a high level of crypto adoption, from 20% to 40% of the local population.
🏡 Owners of any real estate in Türkiye can now get a tourist residence permit via a program that officially existed for several years, but was practically stopped in 2023. This type of residence permit gives tax benefits in the country.
💻 Türkiye has also launched a digital nomad visa program and has an investment citizenship procedure for purchase of real estate worth more than $400,000.
📝 Recently, Türkiye adopted new crypto regulations. 47 legal entities have already applied for a license. Crypto exchange stays legal and foreign entities will continue to operate in the country.
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🇺🇸 Will the Fed cut rate after US inflation drop?
📢 Yesterday, the market saw new data about decreasing US inflation, down to 2,9% for the last 12 months (to the end of July).
💼 Some analysts perceive this information as a reason for the Fed to cut rates in September.
🌐 Moreover, as Arthur Hayes (exBitMEX) suggested, the election and fear of global recession will force the government to increase liquidity in the market, part of which will, of course, go to the global crypto market.
📢 Yesterday, the market saw new data about decreasing US inflation, down to 2,9% for the last 12 months (to the end of July).
💼 Some analysts perceive this information as a reason for the Fed to cut rates in September.
🌐 Moreover, as Arthur Hayes (exBitMEX) suggested, the election and fear of global recession will force the government to increase liquidity in the market, part of which will, of course, go to the global crypto market.
Yahoo Finance
Mild inflation reading offers Fed a 'green light' to cut rates in September
Another mild inflation reading released Wednesday removes one of the last hurdles the Federal Reserve needed to clear before cutting rates in September.
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Are you waiting for the Fed rate cut?
Anonymous Poll
50%
Yes, indeed. This means a new bull run in crypto.
27%
I'm waiting for rate cuts and a new dip to buy.
15%
The Fed will probably wait and keep rates at the same level.
9%
The Fed decision will not influence the crypto market.
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🇦🇪 UAE State Bank to Launch Its Own Crypto Exchange?
🚀 Cointelegraph reported that a UAE owned bank (RAKBANK) will launch a state crypto exchange. This is big news, but is not entirely accurate.
🏛 RAKBANK is a private organization. The UAE government does not directly own it, though 57% of the bank's shares are owned by Ras Al Khaimah, one of the seven Emirates. The two most famous Emirates are Dubai and Abu Dhabi.
♨️ However, 20% of the bank's shares are owned by foreign shareholders and another 20% by members of the royal family and UAE private investors. And RAKBANK's partner is Bitpanda (Austria), a large European crypto broker - one of the few crypto exchanges that has a broker license in the EU.
🚀 Cointelegraph reported that a UAE owned bank (RAKBANK) will launch a state crypto exchange. This is big news, but is not entirely accurate.
🏛 RAKBANK is a private organization. The UAE government does not directly own it, though 57% of the bank's shares are owned by Ras Al Khaimah, one of the seven Emirates. The two most famous Emirates are Dubai and Abu Dhabi.
♨️ However, 20% of the bank's shares are owned by foreign shareholders and another 20% by members of the royal family and UAE private investors. And RAKBANK's partner is Bitpanda (Austria), a large European crypto broker - one of the few crypto exchanges that has a broker license in the EU.
Cointelegraph
UAE’s RAKBANK teams up with Bitpanda on digital asset platform for residents
RAKBANK partners with Bitpanda to create a regulated digital asset management platform for UAE residents.
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Which emirate is not in the UAE?
Anonymous Quiz
39%
Umm Al Quwain
19%
Sharjah
20%
Musandam
9%
Fujairah
13%
Ajman
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🇨🇳 China to continue crypto ban
🧑⚖️ Chinese Supreme People's Court and Supreme People’s Procuratorate have jointly decided to extend AML laws, in effect since 2007, to crypto. Money laundering with virtual assets is punishable by a fine of up to $28,000 or a prison term of up to 10 years.
⛏ Meanwhile, the market situation remains tense. The rise in gold prices - over to $2,500 (a new high) due to record purchases by central banks - is not influencing Bitcoin. The crypto market continues to move sideways and BTC ETFs showed insignificant inflow of funds last week - $32.4 million according to Farside Investors. BTC is at $60,700, ETH at $2,650 and TON at $6.85.
🧑⚖️ Chinese Supreme People's Court and Supreme People’s Procuratorate have jointly decided to extend AML laws, in effect since 2007, to crypto. Money laundering with virtual assets is punishable by a fine of up to $28,000 or a prison term of up to 10 years.
⛏ Meanwhile, the market situation remains tense. The rise in gold prices - over to $2,500 (a new high) due to record purchases by central banks - is not influencing Bitcoin. The crypto market continues to move sideways and BTC ETFs showed insignificant inflow of funds last week - $32.4 million according to Farside Investors. BTC is at $60,700, ETH at $2,650 and TON at $6.85.
Decrypt
China Classifies Crypto Transactions as Money Laundering in Update to AML Law - Decrypt
The measures, expected to take effect on Tuesday, are part of broader efforts aimed at tightening anti-money laundering laws in China.
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👮 Lawyers try to accuse Binance of racketeering
🧑⚖️ American lawyer Bill Hughes reported a new class action lawsuit against Binance. The plaintiffs are customers of other exchanges and wallets, who have been victims of hacker attacks.
📝 They are using a legal trick related to the US Criminal Organizations Act (RICO) to accuse Binance of being complicit in the actions of hackers who laundered funds stolen from customers there. The plaintiffs' logic: if Binance's business had not allowed laundering, customer funds would not have been lost.
🤑 Professional attorneys are behind the lawsuit. Bill Hughes believes that most likely the lawsuit will not reach the court and Binance will regulate the issue in the pre-court order.
🧑⚖️ American lawyer Bill Hughes reported a new class action lawsuit against Binance. The plaintiffs are customers of other exchanges and wallets, who have been victims of hacker attacks.
📝 They are using a legal trick related to the US Criminal Organizations Act (RICO) to accuse Binance of being complicit in the actions of hackers who laundered funds stolen from customers there. The plaintiffs' logic: if Binance's business had not allowed laundering, customer funds would not have been lost.
🤑 Professional attorneys are behind the lawsuit. Bill Hughes believes that most likely the lawsuit will not reach the court and Binance will regulate the issue in the pre-court order.
X (formerly Twitter)
Bill Hughes 🦊 (@BillHughesDC) on X
👀🚨👀🚨 @binance and @cz_binance were sued last Friday by class plaintiffs in Seattle federal court. An interesting class action brought by top class action lawyers alleging consumer harm as a result of Binance's money laundering. And the natural, predictable…
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🇺🇸 The Fed is going to act
📣 Jerome Powell, the Fed chair, claimed today that the regulator is going to change its monetary policy and do everything possible for labor market support.
📈 Rate cuts will start soon. The crypto market has already reacted with BTC reaching $62,000.
📣 Jerome Powell, the Fed chair, claimed today that the regulator is going to change its monetary policy and do everything possible for labor market support.
📈 Rate cuts will start soon. The crypto market has already reacted with BTC reaching $62,000.
CNBC
Watch live: Fed Chair Jerome Powell speaks from Jackson Hole conference
Federal Reserve Chair Jerome Powell delivers his keynote speech at 10 a.m. on Friday for the central bank's annual retreat in Jackson Hole, Wyoming.
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Pavel Durov was arrested in France. Information to be updated.
https://www.tf1info.fr/justice-faits-divers/info-tf1-lci-le-fondateur-et-pdg-de-la-messagerie-cryptee-telegram-interpelle-en-france-2316072.html
https://www.tf1info.fr/justice-faits-divers/info-tf1-lci-le-fondateur-et-pdg-de-la-messagerie-cryptee-telegram-interpelle-en-france-2316072.html
TF1 INFO
INFO TF1-LCI - Le fondateur et PDG de la messagerie Telegram interpellé en France | TF1 Info
[VIDÉO] Selon nos informations, le fondateur et PDG de la messagerie sécurisée Telegram a été interpellé ce samedi soir à l'aéroport du Bourget. Pavel Durov, franco-russe de 39 ans, était accompagné de son garde du corps et d'une femme. - INFO TF1-LCI - Le…
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🇫🇷 About Durov's arrest
⏰ The period of his detention was extended to at least 48 hours. And it was reported that the girl and guard who were with him during his detention were released.
📝 At the moment, Durov is being interrogated as a suspect on 12 charges in the case against an unidentified person. The decision to open an investigation was prepared in early July. The attached document (in French) is a press release with the list of charges.
⚠️ The accusations are primarily that Telegram, being encrypted, enables crimes including sharing child pornography, selling drugs, scamming, money laundering and so on, which makes him "complicit" in those crimes - and that he refuses to provide information and documents needed for "interceptions" (i.e. invasions of privacy) where authorised by French law.
⏰ The period of his detention was extended to at least 48 hours. And it was reported that the girl and guard who were with him during his detention were released.
📝 At the moment, Durov is being interrogated as a suspect on 12 charges in the case against an unidentified person. The decision to open an investigation was prepared in early July. The attached document (in French) is a press release with the list of charges.
⚠️ The accusations are primarily that Telegram, being encrypted, enables crimes including sharing child pornography, selling drugs, scamming, money laundering and so on, which makes him "complicit" in those crimes - and that he refuses to provide information and documents needed for "interceptions" (i.e. invasions of privacy) where authorised by French law.
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TON Society has launched #FreeDurov initiative. Let's sign this open letter and join it together! ⚡️
https://t.me/tgresistancebot/letter
https://t.me/tgresistancebot/letter
Telegram
Digital Resistance
We strongly condemn the arrest of Mr. Pavel Durov by the French authorities, a blatant attack on the freedom of expression and the right to private life.
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🇫🇷 Politico: France is trying to arrest Nikolay Durov
🚓 Arrest warrant for Pavel and his brother Nikolay (CTO Telegram) was issued in March 2024 by French authorities.
🧑⚖️ Today the judge will make a decision about Pavel Durov's future status in the criminal case.
🍷And six years ago, according to WSJ, Pavel Durov had a dinner with President Macron, which called him to move Telegram’s office in France.
🚓 Arrest warrant for Pavel and his brother Nikolay (CTO Telegram) was issued in March 2024 by French authorities.
🧑⚖️ Today the judge will make a decision about Pavel Durov's future status in the criminal case.
🍷And six years ago, according to WSJ, Pavel Durov had a dinner with President Macron, which called him to move Telegram’s office in France.
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Waiting for the court decision on Durov's case..🙈
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😄 Pavel Durov is free. He needs to pay 5 mln euro as bail and can't leave France until finishing of court case. But this is much better than it could be.
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Are you glad that Durov is free on bail?
Anonymous Poll
57%
Yes, it's a good final.
26%
Yes, but I'm still worried about his future.
16%
No, he is innocent and doesn't need any bails
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