China News by Thebittimes.Com

Chainlink (LINK) co-founder Sergey Nazarov says major financial institutions around the world are primed to start utilizing his project soon. Nazarov notes in a new YouTube video that the decentralized oracle network is arriving at a point where financial institutions have been reaching out for help with various projects. “At this point, I’ve been – between last year and this year so far – almost everywhere. Last year, we covered a lot of Asia, the Middle East, Australia, many of the top environments where cryptocurrencies and blockchains are getting adopted. This year, with the new stance on regulation in the US, we are very heavily covering all of the US institutions in addition to continuing to cover those in Asia and the Middle East. So I can’t mention exact names, because they want to wait to announce, they have all these processes with NDAs (non-disclosure agreements). It’s a very tightly controlled process, but I would say between la...

Japan pushes US tariff reversal with unprecedented urgency right now, and Economic Revitalization Minister Ryosei Akazawa is heading to Washington for his fifth trip focused on resolving these trade disputes. The US tariff negotiations are intensifying ahead of the G-7 trade talks scheduled for mid-June, and the Japan trade policy update is reflecting mounting diplomatic pressure at this time. Market analysts are warning of potential impact on global markets as both nations work against an increasingly tight timeline before the crucial summit. Also Read: Trump’s New Capital Tax Sparks Fears of Global Retaliation Japan’s US Tariff Reversal Push Sparks Market Volatility And Trade Risks Source: Spectrum News Diplomatic Mission Intensifies Trade Pressure Japan pushes US tariff reversal through intensive diplomatic efforts right now, and Akazawa is making his third consecutive weekly trip to Washington. Prime Minister Ishiba Shigeru has instructed his top negotiator to seek common grou...

Saudi Arabia is dipping its toes on both sides of the aisle by blowing hot and cold with the US and BRICS. The Kingdom of Saudi Arabia had paused the BRICS invitation by not providing a straightforward answer about joining the bloc. It is maintaining a friendly stance with both the US and the alliance and leveraging various trade deals to its benefit. The Kingdom wants the help of both to keep its Vision 2030 target afloat. Also Read: BRICS: Only 33% of Trade Settled in US Dollars The nation is diplomatically sitting on the fence and pausing BRICS membership to seal trade deals with the US. The Mohammed bin Salman-led government sees more value in the US but also wants the support of the alliance. They are weighing the pros and cons of the bloc before giving out a final decision and are hedging the invite to their advantage. This gives the kingdom ample room to initiate deals and gain the upper hand in trade policies. Also Read: BRICS Alliance: 2 New Countries Apply to Join Before 2025...

Coinbase as a firm forbids its employees from disc US sing Politics , but this restriction doesn’t apply to the firm itself, which makes a variety of political donation s. Coinbase’s efforts have included expanding its lobbying efforts as well as supporting political action committees like Fairshake.  However, Coinbase has also been donating to organizations formed under Section 527, including both the Republican Governors Association (RGA) and the Democratic Governors Association (DGA).  ProPublica’s 527 Explorer, which uses IRS reporting information, shows that Coinbase donated $50,000 each to the RGA and the DGA in March. This wasn’t the first donation to either organization to come from Coinbase, with the RGA also receiving $500 in December and $50,450 days before FTX declared bankruptcy in November 2022.  Crypto lobbyists are busy preparing for the 2024 election Read more: Binance invested heavily in lobbying before guilty plea Besides these cont...

Coinbase chief Brian Armstrong says the Securities and Exchange Commission (SEC) asked the exchange to cease trading on every asset but bitcoin shortly before it launched a lawsuit against the company for operating an unregistered broker, exchange, and clearing agency. Speaking to the Financial Times (FT), Armstrong claims the SEC told him that it believed every asset other than bitcoin is a SEC urity. According to Armstrong, “We said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.”  Coinbase refused to comply with the SEC’s request, preferring instead to “ find out what the court says .” “We really didn’t have a choice at that point, delisting every asset other than bitcoin, which by the way is not what the law says, would have essentially meant the end of the crypto industry in the US,” Armstrong told FT. “It kind of made it...

Crypto exchange Bittrex pays $53 million in fines to the US Treasury department. The $53 million is to settle the charges against the exchange for its alleged violation of federal sanctions. The settlement of the allegations was announced by the US Treasury department, the federal government’s sanctions officer, Treasury’s money laundering watchdog, and the Financial Crimes Enforcement Network (FinCEN) on Tuesday. However, OFAC also stated that Bittrex has taken measures to rectify the allegations and issues. J US T IN: 🇺🇸 US Treasury fines # crypto exchange Bittrex $53 million for violating federal sanctions . — Watcher.Guru (@WatcherGuru) October 11, 2022 Bittrex allegedly allowed 1800 people in sanctioned areas As per the details from the settlement, Bittrex allegedly allowed 1800 people from sanctioned jurisdictions on the platform. The people hailed from Iran, Cuba, Sudan, Syria, and Crimea. Bittrex allowed these people to condu...