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CFTC Fines ‘Decentralized’ Prediction Market Platform Polymarket $1.4 Million, Shuts Down Noncompliant Markets

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The U.S. Commodity Futures Trading Commission (CFTC) has ordered a “decentralized” prediction market platform to shut down non-compliant markets and pay a fine of $1.4 million. “Polymarket had been operating an illegal unregistered or non-designated facility for event-based binary options online…

Over 20,000 Bitcoin ATMs Installed in a Year

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The number of cryptocurrency ATMs around the world has grown exponentially in 2021, with over 20,000 new installations made since last December. That’s more than the total of all crypto teller machines put into operation in the previous seven years. Close…

UAE to Jail Promoters of Fraudulent Cryptocurrency Schemes for Five Years, Offenders to Pay Over $270K in Fines

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Fraudsters promoting online cryptocurrency scams in the United Arab Emirates (UAE) now face a possible five-year jail sentence plus a fine of up to $272,000, according to a report. The new measures, which are set to take effect on January 2,…

Jack Dorsey and Elon Musk Raise Concerns Over Web3 as Skepticism About Ownership Grows

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Former Twitter CEO Jack Dorsey has ignited a debate about web3 after Tesla CEO Elon Musk criticized it. Dorsey warned of the risks from centralization, emphasizing that web3 is owned by venture capitalists (VCs), hiding under the premise of decentralization. “I’m…

100 Companies Fail to Obtain Crypto Licenses in Singapore Due to Tough Regulation

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More than 100 companies that applied for a license to offer crypto services in Singapore have either been turned down or withdrawn their applications. “Cryptocurrencies could be abused for money laundering, terrorism financing, or proliferation financing due to the speed and…

Cash2Bitcoin CEO Ayman Rida Explains Why Merchants Set up a Bitcoin ATM, Compliance and Regulation

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Established in 2016, Cash2Bitcoin.com is one of the largest and fastest-growing cryptocurrency ATM deployment services in the United States. Cash2Bitcoin.com manages over 1000 locations throughout the country and is rapidly expanding its reach in the market. Ayman Rida is the CEO…

Leading Mexican Retailer Grupo Elektra Accepts Bitcoin

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Mexico’s Grupo Elektra, a leading retailer in Latin America, is accepting bitcoin for payments. The chain belongs to conglomerate Grupo Salinas, which is owned by Mexico’s third-richest billionaire, the pro-bitcoin Ricardo Salinas Pliego. Ricardo Salinas Pliego’s Retail Chain, Grupo Elektra, Now…

Robinhood Launches Cryptocurrency Gifts Program

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Trading platform Robinhood is launching a cryptocurrency gifts program, allowing users to gift several cryptocurrencies, including bitcoin, dogecoin, ether, bitcoin cash, and litecoin. As with crypto trading, gifts are commission free and users can gift as little as $1 in cryptocurrency….

UK Bans Crypto Ads by Papa John’s Pizza, Coinbase, Etoro, Luno, Kraken

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The U.K. advertising watchdog has banned several cryptocurrency ads, including those by Papa John’s Pizza, Coinbase, Kraken, Etoro, and Luno. The authority says the ads are “misleading” and “irresponsibly taking advantage of consumers’ inexperience.” 7 Crypto Ads Banned by UK Authority…