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Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence

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According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange…

Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in Siberia

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Growing electricity consumption in the crypto mining sector may require the construction of new power generation facilities in Siberia, the energy minister of Russia has acknowledged. Demand continues to increase in residential areas as well, after regional authorities abandoned a proposal…

Full Ban on Crypto in Russia Would Be Counterproductive, Rosfinmonitoring Says

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Russian citizens and businesses already own cryptocurrencies, which is why a complete crypto ban would be counterproductive, according to a top executive of Rosfinmonitoring, Russia’s financial intelligence agency. At the same time, the regulator supports prohibiting payments with digital coins and…

Crypto Exchange Bitfront Shuts Down Amid Industry Challenges

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Cryptocurrency exchange Bitfront has announced its intention to cease operations in the coming months, citing challenges facing the industry. The U.S. trading platform, backed by Japan’s social media giant Line, indicated the decision is unrelated to the collapse of FTX. Line-Supported…

Square Enix Announces Symbiogenesis, a Story-Driven NFT Interactive Experience

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Square Enix, the Japanese AAA game developer and publisher, announced the launch of a new NFT-based gaming franchise, titled Symbiogenesis. The experience, which will be built on top of Ethereum, will leverage the use of NFTs (non-fungible tokens) as art that…

Singapore Seeks to Reduce Risks for Retail Crypto Investors With Restrictive Rules

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Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares…

Binance Licensed in Kazakhstan as Provider of Crypto Exchange and Custody Services

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Authorities in Kazakhstan have granted Binance a license to operate as a digital asset platform and provide an array of relevant services. While working out of the nation’s financial hub in the capital Nur-Sultan, the crypto exchange will offer registration to…

Erdogan Suggests Turkish-Russian Payment System, Local Media Reports

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Turkish President Recep Tayyip Erdogan is reportedly pushing for Turkey and Russia to establish a new payment system between them. The initiative comes amid U.S. pressure against the use of the Russian Mir cards in Turkey. Some Turkish banks have been…

Luna Founder Do Kwon Isn’t in Singapore, Police Say After South Korean Court Issues His Arrest Warrant

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Terraform Labs founder Do Kwon is not in Singapore, local police say. Accused of fraud after the collapse of cryptocurrencies luna and terrausd, he is wanted in South Korea after a court issued an arrest warrant for him. However, Kwon insists…