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UAE Agriculture Authority Prohibits Crypto Mining on Farms
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UAE Agriculture Authority Prohibits Crypto Mining on Farms

The Abu Dhabi Agriculture and Food Safety Authority has issued a directive prohibiting the use of farms for cryptocurrency mining activities. This advisory emphasizes that utilizing farms for crypto mining constitutes a “misuse of the farm for purposes other than its intended use.” Violations of this regulation could result in penalties of up to 10,000...

Florida State Appeals Court Reverses Binance US Suspension
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Florida State Appeals Court Reverses Binance US Suspension

Binance US has been granted permission to continue operations in Florida following a decision by the First District Court of Appeal. The court overturned an emergency order issued by Florida’s Office of Financial Regulation (OFR) that had suspended Binance US’s money transmitter license. The First District Court of Appeal ruled unanimously in favor of Binance...

Hong Kong Orders Worldcoin to Halt Iris Biometric Data Collection
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Hong Kong Orders Worldcoin to Halt Iris Biometric Data Collection

Hong Kong’s privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), has ordered Worldcoin to cease collecting biometric data within the city. The enforcement notice, issued on May 22, directs Worldcoin Foundation to stop scanning and collecting iris and face images from the public. The PCPD has been scrutinizing Worldcoin due to...

Tokenization Could Unlock $5 Trillion Market, Driven by Stablecoins and CBDCs: Bernstein Report
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Tokenization Could Unlock $5 Trillion Market, Driven by Stablecoins and CBDCs: Bernstein Report

Tokenization, the process of transforming real-world assets into blockchain-based tokens, has the potential to unlock a market worth approximately $5 trillion within the next five years, according to a new report by Bernstein. The report, released on Tuesday, highlights that this significant growth could be led by stablecoins, central bank digital currencies (CBDCs), securities, private...

Hong Kong Expands Cross-Border Digital Yuan Trial with E-CNY Wallets for Residents
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Hong Kong Expands Cross-Border Digital Yuan Trial with E-CNY Wallets for Residents

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have expanded their cross-border digital yuan pilot, allowing Hong Kong residents to use e-CNY wallets. This initiative aims to facilitate retail payments without enabling person-to-person transfers. The digital yuan, or e-CNY, is China’s central bank digital currency (CBDC), which has been in...

Spot Bitcoin ETFs reach $303M in Net Inflows
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Spot Bitcoin ETFs reach $303M in Net Inflows

US spot Bitcoin ETFs attracted a combined $303 million in net inflows on May 15, signaling growing institutional interest in Bitcoin. Leading this surge was Fidelity’s ETF, which secured $131 million in net inflows, according to SoSo Value data. Bitwise and Grayscale followed with $86.26 million and $27.05 million, respectively. Surprisingly, the iShares Bitcoin Trust...

Bitcoin Surpasses $66,000 amid CPI Data Release
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Bitcoin Surpasses $66,000 amid CPI Data Release

Bitcoin (BTC) has surged over 6%, surpassing $66,000 following the release of the US Consumer Price Index (CPI) data on May 15. Currently, BTC is trading at $65,780 with a market cap of $1.295 trillion. This price increase is seen as a significant breakout above the $64,000 resistance level, potentially setting the stage for further...

OKX Launches Full Crypto Trading Services in Australia
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OKX Launches Full Crypto Trading Services in Australia

OKX, a major cryptocurrency exchange, has announced the launch of its comprehensive trading services in Australia through a locally regulated entity. This strategic move aims to expand OKX’s presence in the Asia-Pacific region and tap into Australia’s advanced and diverse investor base. At a media event in Sydney on May 14, Oscar Piastri, a McLaren...

Congress Advances FIT21 Bill to Clarify Crypto Regulations
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Congress Advances FIT21 Bill to Clarify Crypto Regulations

The United States House Financial Services Committee is advancing the Financial Innovation and Technology to the 21st Century Act, or FIT21, which aims to clarify the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in digital asset regulation. The bill, initially proposed in July 2023, will soon be...

German State-Owned Bank to Launch Blockchain-Based Digital Bonds
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German State-Owned Bank to Launch Blockchain-Based Digital Bonds

The German state-owned bank, Kreditanstalt für Wiederaufbau (KfW), has announced its plans to issue its first blockchain-based digital bonds by summer 2024. These bonds will be managed using blockchain technology to ensure secure and transparent transactions and are classified as crypto securities under the German Electronic Securities Act (eWpG). KfW has partnered with major financial...