The cryptocurrency exchange, Binance, would be operating in the Philippines without having the required permits. This was reported by the country’s SEC.
One of the main cryptocurrency exchanges in the world, Binance, would be operating irregularly in the Philippines. The country’s Securities and Exchange Commission (SEC) issued a warning on Nov. 28, noting that Binance has been conducting operations without the authorization required to sell securities in the Philippines.
The SEC stressed the obligation of exchanges, such as Binance, to apply for registration and provide detailed information about the securities they offer to the public. Aspects such as the issue price and the nature of the securities must be transparent, according to the Philippine Securities Regulation Code (SRC).
In addition to the lack of a license, the SEC accused Binance of illegally promoting its services in the country. The regulator warned that those involved in promoting or trading on Binance could face legal consequences, according to Section 28 of the SRC.
Jack Dorsey Supports Bitcoin Mining Decentralization with New “Ocean” Pool
Jack Dorsey, co-founder of Twitter and prominent Bitcoin advocate, is taking a bold step towards decentralization in the world of cryptocurrencies. Dorsey led a $6.2 million seed funding round for Mummolin, the parent company of the revolutionary Bitcoin mining pool called “Ocean.” According to an announcement made on November 29.
The initial investment supports the launch of Ocean, a platform designed to decentralize and transform the Bitcoin mining process. The main objective of the new pool is to provide transparency to the mining process. Allowing miners to receive block rewards directly from the Bitcoin network, rather than relying on mining pools.
SEC Delays Approval of Bitcoin ETF and Seeks Public Opinions
The anticipated green light for Franklin Templeton Digital Holdings’ Bitcoin spot ETF has suffered a setback with the US Securities and Exchange Commission’s (SEC) decision to postpone its approval. Despite Franklin Templeton’s declaration of intent to list its Bitcoin ETF on the stock exchange, the SEC has opted for a pause, asking for public participation before making a decision on this and other similar products.
In its filing, Franklin Templeton Digital Holdings details its proposal to list and trade the Fund Shares under BZX Rule 14.11(e)(4), which regulates the listing and trading of commodity-based Trust shares on the Exchange.
Instead of a direct yes or no, the SEC seeks input from “commentators,” the general public, to better understand the risks associated with the Franklin Templeton Bitcoin ETF. The commission invites opinions on the product and specific considerations regarding Bitcoin market manipulation.
Amazon Drives Business Innovation with Amazon Q, its New Generative AI Assistant
Amazon has announced the launch of Amazon Q, an assistant powered by generative artificial intelligence. This new resource is specifically designed for enterprise applications. Marking another milestone in Amazon’s broader strategy to integrate generative AI into its ecosystem. Covering both the consumer field and the private sector.
Amazon Q aims to offer employees immediate and relevant tools to streamline tasks, accelerate decision-making, and foster creativity and innovation in the work environment. This AI assistant can be used for various functions, from conversations to problem solving, generating content, obtaining information and taking action, connecting to a company’s repositories of information, code, data and business systems.
By Leonardo Perez
