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House Approves Amendment to Limit SEC's Crypto Enforcement Authority
The U.S. House of Representatives has approved an amendment to the Financial Services and General Government Appropriations Act that limits the authority of the U.S. Securities and Exchange Commission (SEC) to carry out enforcement actions against the crypto industry.
Emmer’s amendment “Ensures none of the funds made available by this Act may be used by the Securities and Exchange Commission to carry out an enforcement action related to a crypto asset transaction.”
Two other crypto-related amendments to the Financial Services and General Government Appropriations Act of 2024 were also adopted - that “No funds may be used by the Department of the Treasury to design or develop a central bank digital currency, or establish a United States central bank digital currency as legal tender.” The other amendment “Prohibits funding for the CBDC (Central Bank Digital Currency) Working Group led by the Department of Treasury.”
Ransomware Attack Against ICBC Disrupts U.S. Treasury Market
ICBC Financial Services, the US arm of the world's largest bank by assets, Industrial and Commercial Bank of China (ICBC), was hit by a ransomware attack that reportedly resulted in the disruption of certain internal systems.
The bank said the impacted systems were immediately disconnected and isolated, and law enforcement was notified. However, it was reported that some U.S. Treasury transactions failed to clear because of the disruption, and traders had been asked to reroute their deals.
ICBC said its head office was not affected, nor were other domestic and overseas branches, including its New York branch. The cybercrime gang Lockbit is suspected...
Allianz Retains Full-Year Outlook Despite 30% Slump in Q3 Profit
Germany's Allianz (ALVG.DE), one of Europe's largest financial services groups posted a 30% fall in its third-quarter net profit, dragged down by claims from natural catastrophes, although the financial services company maintained its full-year profit outlook.
Net profit attributable to shareholders of 2.021 billion euros ($2.16 billion) in the three-month period ended September, compared with 2.866 billion euros a year earlier. The figure surpassed a 1.989-billion-euro consensus forecast. The company described the level of claims as "exceptionally high".
Still, the company stuck to its target of 2023 operating profit between 13.2 billion and 15.2 billion euros.
BlackRock’s Spot Ethereum ETF Plan Confirmed After Nasdaq Filing
Blackrock’s plans for a spot Ethereum exchange-traded fund (ETF) has now been confirmed, per a 19b-4 form filing on behalf of the $9 trillion asset management firm for a proposed ETF called the "iShares Ethereum Trust" submitted to the United States Securities and Exchange Commission on November 9.
The move signals BlackRock’s intention to expand beyond Bitcoin with its ETF aspirations.
CME Topples Binance as Top Bitcoin Futures Exchange as Crypto ETF Excitement Soars
For the first time in two years, Binance has been dethroned from the top spot on the list of biggest Bitcoin Futures Exchanges after the regulated Chicago Mercantile Exchange (CME) topped the list.
Per CoinGlass data, CME ranked first among futures and perpetual futures exchanges with an open interest (OI) of roughly $4.07 billion, up some 4% in the past 24 hours and representing a 24.7% market share.
Meanwhile, OI on Binance stood at $3.8 billion, down 7.8% during the same period.
Circle Revamps Stablecoins USDC, EURC With Upgrade Focused on Gas and Security
Circle has announced a new v2.2 upgrade for its digital stablecoins, touting six key changes coming to the USD coin (USDC) and Euro coin (EURC) smart contracts.
The upgrades will roll out through early 2024 across major blockchains like Ethereum, Avalanche, and Polygon that support USDC and EURC. The changes aim to significantly reduce gas costs, enable new use cases, and bolster security.
LeoGlossary: Leading The Way To Future Ad Revenue
LeoGlossary is a very important project for LEO, especially in light of what is happening with the platform and the addition of revenue streams.
One of the most anticipated features was the development of LeoAds which went live on November 1st. TM shared that LeoGlossary seeks to help increase the revenues from the ads.
A Look at the Top Hive Frontends | November 2023
Hive offers multiple frontends for its social apps and users to interact with. This gives the users the freedom to choose their favorite one. Some of them filter out the content and focus just on a specific content.
In his article, Dalz shared an overview of how the top 5 frontends are performing in terms of daily posts and comments.
INLEO is a blockchain-based social media platform for Crypto, Finance, and general content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.