Crypto Regulation: Himalaya Exchange leading the way
Crypto News Talk is a bilingual series of programs produced by Himalaya Australia Digital Soldier H-Pay Promotion Group, aiming to promote H-coin, Himalaya Exchange, H-Pay, knowledge and changes in the crypto market industry. The slogan of the program is Wealth Pulse, Commercial Opportunities, Strategic Outlook, Crypto News Talk.
What are Crypto trading platforms? What is a broker in trading?
SEC have rules to protect the investors against fraud and manipulation. Crypto platforms are like stock markets buying and selling on the platform without going through a broker. SEC wants them to register as securities.
A broker is an individual or firm that acts as an intermediary between an investor and a security exchange.
Crypto Exchange is a platform for buying and selling cryptocurrencies, as well as storage for crypto known as hot wallet which is connected to internet at all time.
The most secure type of storage is a cold crypto storage known as hardware wallet.
Senate Bill would hand Bitcoin, Ether oversight to Commodities Regulator
A new bill in the US Senate would make the Commodity Futures Trading Commission (CFTC) the direct regulator of the TWO biggest cryptocurrencies Bitcoin and Ether.
It would also require such companies providing crypto platforms to register with the CFTC, including brokers and exchanges.
That registration would come with requirements to maintain fair pricing, prevent market manipulation, avoid conflicts of interest and maintain “adequate financial resources.
It would provide much needed regulatory clarity to the crypto market by placing a major portion of its policing under a single regulator.
The bill is not intended to cover the entire cryptocurrency market, or undermine the ability of the SEC to police crypto products that function more like securities.
Senators insisted they wanted to move ahead with the legislation as quickly as possible.
India freezes assets of Binance-linked WazirX
India’s financial crime-fighting agency said it had frozen the assets of WazirX, linked to the world’s largest digital currency exchange Binance, as part of its investigation into suspected violation of foreign exchange regulations.
The agency said its action was related to suspected role in assisting instant loan app companies in money-laundering by converting them into cryptocurrencies on its platform.
The searches were conducted on one of the directors of Zanmai Lab, which owns WazirX.
The agency found that large amounts of funds were diverted by Fintech companies to purchase crypto assets and then launder them aboard. The amximum amount of funds were diverted to WazirX Exchange and the Crypto assets have been diverted to unknown foreign wallets.
A lot of these fintech companies dealing in illegal lending practices were backed by Chinese funds.
Binance CEO Changpeng Zhao tweeted on Friday that the company does not own shares in Zanmai Labs which owns WazirX.
Binance only provides wallet services for WazirX as a tech solution
In 2021, during the course of an investigation to a money-laundering online gambling app, ED found the Chinese-owned app had converted a total of 570 million Rupees of criminal proceeds into cryptocurrency through Binance platform.
Mr. Guo's 2021 video - Cryptocurrency will definitely have a supervisory mechanism
Last year, Mr. Guo pointed out many times that the era of cryptocurrency is coming, and it is a general trend that cannot be resisted, and governments can only follow the world trend and increase supervision so that digital and fiat currencies can coexist.
Now it has been fully confirmed, This means that a year ago, Mr. Guo’s views on things and his ability to obtain information were very admirable.
The most important thing is the advanced deployment of the digital currency by Mr. Guo, which makes people more confident and hopeful about the future of Himalaya Exchange. Let’s take a look at the video of Mr. Guo.
Mr. Guo's video in 2022 - Four types of licenses
Mr. Guo is well aware of the importance of all legal compliance. We believe that the Himalaya Exchange has been planning to obtain these four licenses for a long time. Regardless of technical or legal issues, Himalaya Exchange must be the best player in the digital currency field. We are looking forward to it!
The above is a summary of the sixth episode of the Crypto News Talk. For more content, please find the video on Gettr or Youtube.
Editor: SteveT#8369 還政於民#4508 Eddy#3853 灭共小猫咪#7782
Publisher: Himalaya Australia Digital Soldier H-Pay Promotion Group
Video link:
https://gettr.com/streaming/p1jmcat5ed1
Sources:
Disclaimer:
The content of this article represents only the personal views of the author. The platform assumes no legal responsibility.
