Bitcoin Daily: Binance Applies For Singapore Crypto License; CFTC Files Charges In Digital Ponzi Scheme


Binance Holdings has applied for an operating license in Singapore under the country’s new payments legislation, which aims to be a comprehensive regulatory agency for digital currencies.

Binance o-founder and CEO “CZ” Zhao Changpeng said they applied “pretty fast” and that the local Singaporean authorities they dealt with were known for being fair.

The law will also grant the Money Authority of Singapore a formal set of powers to tackle cybersecurity issues arising from cryptocurrency, including things like fighting domestic terrorism and money laundering, which have been common for the format.

Blockchain-based social media platform Steemit has partnered with the Tron foundation to bring users to Tron.

Steemit is a platform where users can be paid to curate and create content. By partnering with Tron, they'll ultimately swap their STEEM token for a new Tron-based version, although no set date was available for this as of Sunday.

Steemit melds forums with cryptocurrency to promote adoption of the currency.

The arrival of Google on the governing council of Hedera Hashgraph has caused the network's HBAR token to rise in price above 5 cents for the first time.

The rise in price marks the highest it's been since Hedera Hashgraph launched, and the first time it's been above 2 cents in over a month.

Google's role on the governing council will involve running a node and making an analysis available alongside their other public DLT datasets, according to Google Cloud developer advocate Allen Day in a blog post.

The Commodity Futures Trading Commission has charged a Colorado resident with fraud in an alleged Ponzi scheme.

Defendants Breonna Clark of Denver, Colorado and Venture Capital Investments Ltd are charged with soliciting American citizens to trade foreign currency and Bitcoin using a communal digital pool. By doing so, the defendants allegedly made off with $534,829 from around 72 different people.

The defendants allegedly did not use the money they made to trade. Instead, they were reported to have used it for personal things, such as buying a BMW automobile.



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.