Riding The Wave News Summary 178
Crypto Suddenly Braced For A Game-Changing China Earthquake That Could Hit The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin Price, & more.
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Table of Contents
Tweets
UK’s Travel Rule comes into effect, could halt certain crypto transfers
Traders Are Paying 2,000% to Buy CYBER as Social Network's Tokens Soar
GTA owner joins Web3, Bitcoin casino, Sunflower Land review: Web3 Gamer
Tweets
https://twitter.com/rovercrc/status/1698337802054984164
https://twitter.com/KobeissiLetter/status/1698415271289978964
https://twitter.com/askslim/status/1698142420188176812
https://twitter.com/GameofTrades_/status/1698319936035459505
https://twitter.com/heresyfinancial/status/1698001981628096578
https://twitter.com/intocryptoverse/status/1698143892451770533
https://twitter.com/GameofTrades_/status/1698044368358351110
Crypto Suddenly Braced For A Game-Changing China Earthquake That Could Hit The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin Price
Now, a top court in China, which has recently moved to open up bitcoin and crypto trading to the mass market in Hong Kong, has written a report declaring crypto is "legal property and protected by law," according to local media reports.
“Virtual currency is not classified as an illegal item. Therefore, under the current legal policy framework, the virtual currency held by relevant entities in our country is still legal property and protected by law," the People’s Court of China wrote in a report titled "Identification of the Property Attributes of Virtual Currency and Disposal of Property Involved in the Case," according to a local news site ODaily.
"At some point the strategic embrace of crypto technology by the PRC [People's Republic of China] will catch the attention of U.S. policymakers," Faryar Shirzad, chief policy officer at bitcoin and crypto exchange Coinbase, posted to X (Twitter). "Chinese courts don’t create a legal framework around anything without the blessing of central authorities."
UK’s Travel Rule comes into effect, could halt certain crypto transfers
Crypto asset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect on Sept. 1.
The rules targeting virtual asset service providers were first introduced by the Financial Conduct Authority on Aug. 17, requiring that VASPs based in the U.K. “collect, verify and share information” relating to crypto-asset transfers.
If an inbound payment is received from a person or entity from an overseas jurisdiction that hasn’t implemented the Travel Rule, the VASP must make a “risk-based assessment” as to “whether to make the cryptoassets available to the beneficiary.”
The same rule would also apply to Brits looking to send payments outside of the U.K.
Traders Are Paying 2,000% to Buy CYBER as Social Network's Tokens Soar
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