SEC Shares Update on Binance App Ban Request to Google and Apple | Key Points | July 30, 2024
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s recap: SEC said they are optimistic about their ban request vs Binance!
Here are the latest crypto news stories in the last 24 hours.
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $66,814.93, down 3.1% over the last 24 hours.
- Ethereum (ETH): $3,330.94 up 1.0% over the last 24 hours.
- Solana (SOL): $183.29, down 3.1% vs the previous day.
Trending Coins Update
- CyberDEX: $0.0603, up 76.3% vs the previous day.
- AIT Protocol: $0.1303, up 32.5% over the last 24 hours.
- Notcoin: $0.0130, down 3.6% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature: SEC Optimistic About Binance App Ban in PH
The Philippine SEC remains optimistic that its call for the removal of Binance apps from Google and Apple marketplaces will be heeded.
What’s the significance: The SEC has been on a crusade since November last year to eliminate the global crypto exchange from the PH internet.
- It issued an advisory and explained the reasoning behind the (upcoming) ban.
- It delayed the ban but managed to get approval from the National Telecommunications Commission (NTC) to order internet providers to block Binance.
- The Binance app is still available, but SEC mentioned multiple times (here, here, and here) that they are working to have the app removed on the mobile app stores.
- Binance did send an email to their customers in the Philippines, stating that the restrictions are just temporary.
Details:
- SEC Commissioner’s Statement: McJill Bryant Fernandez told The STAR that discussions with Google have been positive. “I think they (Google) are just asking for some documentation but I don’t think it is really a reservation for them to block. On Apple, I have no update,” he said.
- Letters Sent: Last April, the SEC sent separate letters to Google and Apple, requesting the removal of Binance apps to prevent further illegal activities and protect the investing public.
SEC Director Oliver Leonardo noted, “Filipinos have ways to still access if they want,” indicating the challenges in completely restricting access to the platform.
What’s next: The SEC is developing a regulatory framework for digital assets and service providers to ensure better compliance and protection for investors.
Philippine Crypto News 🇵🇭
- BreederDAO announced that $BREED holders on Ethereum can claim a 10% multiplier and bonus points in Sipher’s Play to Airdrop Event.
- Coins.ph partnered with open financial infrastructure PlatON.
- ETH63 collaborates with Coinfest Asia to offer discounted festival tickets.
Educational Corner 🎓
Check out our latest features:
It’s not just in Telegram.
There are several web3 games that allow players to earn rewards—this time in Bitcoin.
Check out which games will let you earn Bitcoin while playing.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Tron founder Justin Sun urged China to reconsider its strict cryptocurrency policies in response to former President Donald Trump’s advocacy for Bitcoin.
- Venezuela‘s election authority announced Nicolas Maduro’s reelection as President, highlighting the nation’s reliance on crypto due to economic crises, international sanctions, and significant emigration.
- Johnny Ng, a Hong Kong lawmaker, proposed discussions on including bitcoin in the region’s financial reserves following former U.S. President Donald Trump’s promise to create a “strategic bitcoin reserve” if re-elected.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Why Monad ecosystem is gaining VC interest.
- Ordinals bleed as BTC touchs $70,000.
- ArcadeXYZ collateralizes $450,000 of Ringers NFTs.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Telegra game Catizen delays airdrop.
- Animoca Brands unveils Crazy Rush Heroes on Telegram.
- Draper Goren Blockchain Studio announces strategic investment in Turf Gaming.
Event Announcements 📅
- PBWx Davao: July 30, 2024
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Hong Kong police arrested four people, including a 14-year-old, for allegedly using fake banknotes to swindle HK$11 million ($1.4 million) from cryptocurrency owners since October 2023.
- A North Korean national, Rim Jong Hyok, has been indicted by a U.S. grand jury for ransomware attacks on hospitals, with charges including hacking, extortion, and money laundering.
- HSBC Australia restricted payments to cryptocurrency exchanges due to increasing concerns about scams, following similar measures by other major Australian banks.
- WazirX, facing backlash over a $230 million hack, proposed a fund recovery strategy allowing users to access 55% of their tokens while converting the remaining 45% into stablecoins.
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This article is published on BitPinas: SEC Shares Update on Binance App Ban Request to Google and Apple | Key Points | July 30, 2024
