Investment Education

BlackRock Denies Reports of SEC Approval for iShares Bitcoin Spot ETF; Application Still Under Review

Contrary to recent media reports, BlackRock has confirmed that its application for the iShares Bitcoin Spot ETF is still under review by the U.S. Securities and Exchange Commission (SEC). The investment management company addressed the rumors, clarifying that no approval has been granted at this time, underscoring the need for accurate information in the rapidly-evolving cryptocurrency market.

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Solana Foundation Aligns with DMCC Crypto Centre as Ecosystem Partner in Dubai to Advance Web3 Innovation

According to Zawya: The reputed Solana Foundation has joined the Dubai Multi Commodities Centre (DMCC) Crypto Centre as an ecosystem partner. This partnership aims to fuel the growth of the Web3 industry in Dubai, a recognized hub for cryptocurrency innovation. The DMCC, a government-funded free zone focused on commodities trade and enterprise, expressed its excitement in welcoming Solana Foundation, an organization committed to promoting the Solana network's decentralization and security. This alliance will strengthen DMCC’s existing services by enabling its members to scale their businesses using Solana, a prominent blockchain platform in the industry. As part of the collaborative venture, the Solana Foundation will provide technical and business development support to DMCC Crypto Centre members. In addition, it will extend its existing grant program to DMCC companies and will join the DMCC Crypto Centre in delivering educational webinars and a range of courses on pertinent Web3 topics. As part of this initiative, Solana will establish a presence at the DMCC Crypto Centre to work closely with its diverse network of technology partners, exchanges, government entities, investors, and other service providers, inviting engagement with over 23,000 companies that currently exist within the DMCC’s business precinct. Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, declared that through this partnership DMCC members can gain access to Solana's world-class blockchain platform and dedicated engineering teams to elevate their businesses, while also providing business licensing and set-up support for Solana ecosystem projects on a complimentary basis. Dan Albert, Executive Director of the Solana Foundation, looks forward to exploring the abundant Web3 value in Dubai, appreciating the high density of crypto firms and the supportive environment that DMCC provides. As a one-stop destination for emerging blockchain and Web3 technology businesses, the DMCC Crypto Centre offers comprehensive support for companies looking to set up and expand their operations. The integration of Solana Foundation sets a positive trajectory for the growth of the Web3 industry, asserting Dubai's position as a global innovation hub.

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Hong Kong Monetary Authority to Enhance Interbank Information Sharing

According to Odaily: Reacting to the rising fraudulent incidences within the financial sector, the Hong Kong Monetary Authority (HKMA) has taken a proactive approach. The regulator noted that it received 954 bank-associated fraud complaints within the first nine months of 2021, significantly outpacing the total of 555 cases filed in the previous year. In the wake of these reportings, the HKMA issued a notice to banks yesterday, mandating the allocation of ample resources and specialized personnel to ensure the implementation of crucial cooperative measures targeting fraud prevention. These measures span three key areas: information sharing, transaction monitoring, and customer warnings. In the coming two months, HKMA plans to integrate warnings within the Faster Payment System (FPS), designed to alert users to the possibilities of transferring funds to precarious accounts. This move underscores HKMA's commitment to bolstering sector-wide security and protecting customers' financial assets.

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Hong Kong Monetary Authority and Central Bank of the UAE Form Joint Venture to Focus on Digital Financial Initiatives

According to Wu Blockchain: The Hong Kong Monetary Authority (HKMA) and the Central Bank of the United Arab Emirates (UAE) have collaborated to form a bilateral working group. This alliance aims to focus on various aspects of digital financial transformation. Among the key areas of cooperation are market interconnection, the development and supervision of central bank digital currencies, and the advancement of financial infrastructures. The partnership will also delve into issues related to central bank digitalization and the development and oversight of virtual assets. This collaboration represents a significant step towards the digitalization of financial systems in both regions. It signifies the commitment of both monetary authorities to capitalize on the potential of digital currencies and virtual assets while establishing robust and efficient financial infrastructures.

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Binance Collaborates with Royal Thai Police to Dismantle High-Value Crypto Scams

According to Binance Blog, Binance has recently joined forces with the Royal Thai Police in cracking down on criminal networks involved in large-scale crypto scams. Two major operations led to the arrest of key criminals and the seizure of significant assets, fortifying Binance’s commitment to global cybersecurity and regulatory compliance. In a particularly noteworthy case, Binance and the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police dismantled a criminal ring behind a "pig butchering" scam, affecting thousands and resulting in seized assets valued at around $277 million. In another operation, Binance aided in capturing suspects across three Thai provinces, leading to the confiscation of 16 luxury residences, 12 top-tier vehicles, and $440,000 in cash. Binance's Investigations team actively supports global law enforcement in the fight against cybercrime by supplying key intelligence and expertise. This collaboration is a key element of Binance's ongoing effort to enhance user security and uphold regulatory compliance in the digital-asset ecosystem.

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