India to block URLs of Kraken, Binance, 7 other crypto firms

India’s Financial Intelligence Unit wants the Ministry of Electronics and Information Technology to block the URLs of nine crypto exchanges.

The move will block Binance, Kraken, Huobi, Kucoin, Bittrex, Gate.io, Bitstamp, Bitfinex and MEXC Global after claiming that the virtual asset service providers (VASP) were “operating illegally” and did not comply with the Prevention of Money Laundering Act. 

India has been working to align crypto with its traditional finance sector, having mandated in March that crypto companies must collect know-your-customer (KYC) information. At the same time, it also mandated that crypto firms register with the FIU.

Read more: All crypto companies in…

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LATEST: Indian Government Issues Compliance Notices to Nine Offshore Crypto Exchanges

In a significant move to curb money laundering and ensure regulatory compliance in the cryptocurrency space, the Indian government has issued compliance show cause notices to nine offshore crypto exchanges under its Prevention of Money Laundering Act (PMLA). The Financial Intelligence Unit (FIU) of India’s Finance Ministry has taken action against exchanges like Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.

This development follows the government’s mandate earlier this year, requiring crypto businesses to register with the FIU and adhere to anti-money laundering and counter-financing of terrorism measures. The government has also initiated steps to block the URLs of these exchanges, which continue to operate without compliance in India.

While the consequences and timeframe remain unspecified, this move underscores India’s commitment to bringing transparency and accountability to the crypto market, with a growing number of domestic crypto service providers registering with the FIU.

Hashdex ups marketing efforts ahead of bitcoin ETF decision

Hashdex has put out a new bitcoin ad, marking the latest effort to bring investor eyes to the space ahead of the US Securities and Exchange Commission’s ruling on spot bitcoin ETFs.

It comes nearly two weeks after Bitwise turned heads with a commercial featuring actor Jonathan Goldsmith, perhaps best known for his role as “the most interesting man in the world” in Dos Equis beer ads.

The Brazil-based asset manager is one of more than a dozen fund issuers with filings in front of the regulator. The SEC is expected to rule on a proposal by Ark Invest and 21Shares — as well as potential others — by Jan. 10. 

Read more: As bitcoin ETF saga hits possible homestretch, here’s what…

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A List of Every Wall Street Giant Seeking to Launch a Bitcoin ETF

As soon as January, a Bitcoin spot ETF could be live in the U.S. – but while that much appears likely, it remains to be seen which specific investment vehicles will be approved.

Indeed, in advance of the January 10 deadline, anticipation is high, with over 12 applicants ranging from disruptive Bitcoin companies to some of the most well-known names in global finance.

The prize is the potential to provide investors with a regulated and accessible vehicle to the world’s leading cryptocurrency. 

Unlike traditional investment routes, such as direct ownership or futures trading, a Bitcoin ETF simplifies the process, allowing a broader range of investors, both institutional and retail, to…

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Ark Invest exits GBTC ahead of potential bitcoin ETF

Cathie Wood’s Ark Invest is buying up shares of the ProShares bitcoin strategy ETF (BITO).

ARK’s Next Generation Internet ETF, which previously held a large amount of Grayscale bitcoin trust, also exited out of its position according to its holdings. 

Bloomberg Intelligence analyst Eric Balchunas said that the move is likely because it’s using the money from GBTC as a “[liquid] transition tool to keep beta to [bitcoin] while it legs into ARKW or ARKB.”

Balchunas noted that this move wasn’t a surprise, and in his opinion was “smart.”

“Better to give your own ETF a nice [assets under management] boost,” he said.

The move was addressed by Cathie Wood, CEO of Ark…

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Top 10 Trending Crypto Coins of The Day

  1. Media Licensing Token: Market Cap of $29 Million.
  2. Crypto Asset Governance: Market Cap of $84 Million.
  3. Tectum: Market Cap of $127 Million.
  4. Guacamole: Market Cap of $35 Million.
  5. Chihuahua Chain: Market Cap of $32 Million.
  6. Sun Token: Market Cap of $84 Million.
  7. XDEFI: Market Cap of $17 Million.
  8. Solana: Market Cap of $42.6 Billion.
  9. Bonk: Market Cap of $770 Million.
  10. Metis: Market Cap of $382 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

Meme coins unwind, SOL loses 9% in 24 hours 

In the final days of 2023, Solana ecosystem traders appear to be collecting their profits, pushing the native token and other assets into the red. 

Solana erased gains Thursday morning, dipping close to 10% in 24 hours to just under $100 after nearly hitting $125 earlier in the week. The ecosystem’s native token (SOL) still remains up around 75% since late November and 776% since the start of 2023. 

Solana meme coin BONK, which gained more than 26,000% in November, is now down 58% since its highs earlier this month. 

Read more: BONK’s price pumped harder around Coinbase listing than any other crypto this year

BONK lost 18% in 24 hours Thursday, putting the token down more than…

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BRC20.com Raises $1.5 Million to Provide Infrastructure for Bitcoin Tokens

Newly launched Bitcoin tokens platform BRC20.com has raised $1.5 million in funding led by UTXO Management, the asset management arm of Bitcoin Magazine’s parent company BTC Inc.

The round included support from Zanshin Capital Management, Unbroken Chain, One Block Capital, Sora Ventures, OWL Ventures, Bitcoin Frontier Fund, Hamble and New Tribe Capital.

The investment comes at a time of increased interest in the BRC-20 token standard, created in March 2023 to facilitate the creation and transfer of fungible tokens on Bitcoin through the Ordinals protocol.

“Today’s news is an important milestone in the journey of BRC20.com as we announce some of the most active and strategic investors…

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Taproot Wizards Introduce Script to Counter Ordinals Inscriptions

Since the introduction of Ordinals protocol in January 2023, heated debates has emerged surrounding Ordinals inscriptions within the network. These inscriptions, allowing token and NFT projects on the Bitcoin blockchain, have triggered a clash among Bitcoin enthusiasts.

And now, in latest developments, the Ordinals startup “Taproot Wizards” has introduced an open-source patch that is claimed to block Ordinals inscriptions.

Related reading: Is The Bitcoin Network Under Attack?

Taproot Wizards Introduce a Script

Taproot Wizards, recognized for its art collection etched by Bitcoin Ordinals, made headlines with a solution-oriented approach. Rijndael, the pseudonymous…

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Grayscale Bitcoin ETF Application Update

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