Day: November 1, 2023

ShareRing certified in the UK as a trusted digital identity services provider

Melbourne, Australia, November 1st, 2023, Chainwire

ShareRing, a true self-sovereign digital identity blockchain Australian company, proudly announces its achievement as one of the first in the industry to be accredited under the “Digital Identities and Attributes Trust Framework” (DIATF) in the United Kingdom. This accomplishment marks a significant advancement in ShareRing’s technology and reaffirms the company’s commitment to reusable digital identity authentication in a secure and private environment.

By securing the accreditation, ShareRing can now offer its digital identity solution for digital ID authentication, with the addition of ID verification for land registry purposes in the UK.

ShareRing’s digital identity technology gives businesses an end-to-end solution to prove their customers’ identities across many different industries, whether it’s for financial KYC and customer due diligence (CDD), age and ID verification, venue and guest management, or corporate identity management. Businesses would manage their digital identity needs through a web-based platform, whilst their customers create and control their reusable digital ID through the Identifi Me app, where they have complete sovereignty over their personal information.

The DIATF is overseen by UK government authorities and is a comprehensive framework for establishing trusted and secure digital identity ecosystems. It defines robust standards, principles, and requirements that accredited companies, like ShareRing, must meet to guarantee the integrity, privacy, and reliability of user data, while minimizing the risk of identity fraud and cyber threats.

“Digital identities are pivotal to removing friction from our everyday lives, and drastically improve operational efficiency across all businesses,” said Tim Bos, Founder of ShareRing. “The UK leads the way in digital ID regulation, and with the accreditation, ShareRing can confidently partner with public and private sectors in Australia and the UK.”

ShareRing’s self-sovereign identity solution is built with blockchain technology (Tendermint PoS and Cosmos SDK) and establishes a tamper-proof ecosystem for businesses and individuals. Unlike traditional identity systems vulnerable to breaches and fraud, ShareRing’s solution ensures that personal data is verified and remains under the user’s control, only shared with third parties when necessary and with explicit consent.

Over the past year, ShareRing has partnered with multiple private sector businesses in Australia and overseas, replacing conventional KYC and customer authentication processes with reusable digital identities. ShareRing will continue to establish partnerships with Australian and UK investment funds, nightlife and F&B venues, and hotels, to help safeguard these businesses from identity fraud whilst improving operational processes and lowering costs.

To learn more about ShareRing and its digital identity solution, please visit https://sharering.network/blog/sharering-achieves-accreditation-under-the-uk-digital-identities-and-attributes-trust-framework-diatf

About ShareRing (AUS)

ShareRing, founded in 2019, is a blockchain technology company in the digital identity industry. Our mission is to remove friction from conventional business operations and individual user digital experiences, through the use of verified digital IDs. By creating truly self-sovereign environments, our solution significantly reduces business risks associated with cyber threats and protects individuals against the misuse of their personal information. ShareRing is accredited under the UK’s digital identity trust framework to provide digital ID services.

For more information please visit ShareRing’s:

Official Website
Twitter
Discord

 

Contact

VP of Marketing
Jonathon Liu
ShareRing
jonathon.l@sharering.network

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SafeMoon founders arrested on wire fraud and money laundering charges

SafeMoon founders arrested; Kyle Nagy at large.
The charges include wire fraud and money laundering.
There are also accusations of misappropriation and investor deception.

In a significant development, the founders of SafeMoon, a decentralized finance digital asset, are facing criminal charges in the United States.

Braden John Karony and Thomas Smith have been arrested, while Kyle Nagy remains at large. The US Attorney’s Office for the Eastern District of New York has charged them with conspiracy to commit wire fraud and money laundering.

The arrests and allegations

Braden John Karony and Thomas Smith, two of the individuals behind SafeMoon LLC, were apprehended in Provo, Utah, and Bethlehem, New Hampshire, respectively. They are accused of participating in a scheme to defraud investors in SafeMoon. This cryptocurrency, issued by SafeMoon LLC, gained immense popularity, with its market capitalization exceeding $8 billion.

The charges revolve around allegations that the defendants misled SafeMoon investors. They misrepresented the accessibility of “locked” liquidity, which was supposedly beyond their reach. Furthermore, they are accused of diverting and misappropriating millions of dollars from the liquidity pool for personal gain.

A background on SafeMoon

SafeMoon tokens (SFM) were introduced in March 2021 by SafeMoon LLC on a public blockchain.

A unique feature of SFM transactions was the imposition of a 10% tax, with 5% allocated to benefit SFM holders and the other 5% to designated liquidity pools.

The larger the liquidity pool, the greater the liquidity in the market for SFM. It quickly gained more than one million holders and a market capitalization of over $8 billion.

SafeMoon founders’ fraudulent scheme

The indictment as per the United States Attorney’s Office Eastern District of New York, alleges that the defendants made false representations to investors, including the use of “locked” liquidity pools to prevent rug-pulling.

They also claimed that tokens in the liquidity pool wouldn’t be used for personal enrichment. However, it is alleged that the defendants maintained access to the liquidity pools and intentionally diverted and misappropriated millions of dollars’ worth of tokens for their personal benefit.

Moreover, they are accused of engaging in SFM trading for their own gain, even at the peak of SFM’s market price, resulting in substantial profits. The defendants concealed the movement of these funds through various methods, including private un-hosted crypto wallets and pseudonymous centralized exchange accounts. The misappropriated funds were allegedly used to purchase luxury vehicles and real estate in different states.

The charges in the indictment are allegations, and the defendants are presumed innocent until proven guilty in a court of law. The case is being handled by the US Attorney’s Office’s Business and Securities Fraud Section.

This case highlights the importance of regulatory oversight in the cryptocurrency industry to protect investors and maintain trust in digital assets. As the legal proceedings unfold, more details will emerge, and the accused individuals will have their day in court to address these serious allegations.

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Turkey eyes new law on crypto assets: report

Turkey is preparing a new law on crypto regulation, according to Finance Minister Mehmet Simsek.
The legislation looks to toughen approach to money laundering and terrorism financing to bring Turkey into compliance with Financial Action Task Force (FATF) requirements.

Turkey is looking to toughen its approach to cryptocurrency regulation, according to a statement made by the country’s finance minister.

Reuters reported on Wednesday, November 1 that Turkey’s quest for new legislation aims at clear regulation for crypto-assets as a route to getting an upgrade in its money laundering and terrorist financing outlook.

Turkey seeks to comply with FATF requirements

Specifically, Turkey hopes the new law will persuade the Financial Action Task Force (FATF) to remove the country from a “grey list” that includes countries whose anti-money laundering (AML) and terrorism financing crackdown is insufficient. 

The global watchdog added Turkey to this list of countries in 2021.

Turkey’s Finance Minister Mehmet Simsek, in an address delivered to a parliamentary commission on October 31, noted that the country was nearing full technical compliance with FATF’s 40 standards. “Work related to crypto assets” was the only issue now.

According to Simsek, the ministry is set to submit to parliament a crypto asset law proposal. Legislative approval of this proposal should see Turkey removed from the “grey list”, unless there are issues – like political considerations.

Reuters says Simsek did not give any other details regarding the expected regulatory step.

The Turkish government’s quest to align with FATF requirements around money laundering and terrorism financing comes amid a wider global push to regulate cryptocurrencies.

That has seen the likes of the EU enacting the Markets in CryptoAsset (MiCA) law and the UK passing into law its Financial Services and Markets Act (FSMA). The comprehensive legislations are expected to bring more clarity to crypto regulation, including stablecoins

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Memeinator presale stage 5 raises over $1 million in days

Memeinator’s Stage 5 presale surpasses $1 million, making a remarkable impact.
Memeinator’s unique blend of AI, viral marketing, and utility sets it apart in the meme coin arena.
One MMTR token is going for $0.0125 in the current stage and is expected to rise to $0.0133 in the next stage.

In the world of cryptocurrency, where trends rise and fall with lightning speed, there’s a new player on the scene that’s making waves and dominating the meme coin market – Memeinator.

This innovative project, returning from the future with a mission to eradicate subpar memes, has garnered over $1 million in just a matter of days during its Stage 5 presale.

What is Memeinator?

Memeinator is not your run-of-the-mill meme coin. It’s a cryptocurrency project that leverages cutting-edge AI technology, viral marketing strategies, and a resolute mission to reach a $1 billion market cap. Unlike the dogs and frogs that have had their moment in the crypto limelight, Memeinator is poised to become the ultimate meme coin that rules them all.

The project’s core objective is clear: eliminate lesser memes and secure its position as a dominant player in the meme coin space. Memeinator takes the meme coin concept to a whole new level by combining it with innovative product launches, a powerful marketing strategy, and the development of an action-packed Memeinator Game. This unique approach sets its native token, MMTR, apart from the myriad of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) that have come before it.

How is Memeinator different from other meme coins?

Meme coins have been a staple of the cryptocurrency world, often characterized by their quirky and humorous themes. However, Memeinator sets itself apart through several key differentiators.

Memeinator leverages advanced AI insights, giving it a significant edge in meme evaluation and selection. This technology helps the project identify and support the most promising memes, ensuring that its value continues to grow.

The team knows how to get people talking. With a powerful marketing strategy, they have created a buzz that’s driving investment and interest in the project. This level of exposure is crucial for a meme coin’s success.

Memeinator (MMTR) doesn’t stop at being just a meme coin; it aims to offer genuine utility. The project’s products, such as the Memescanner and the Memeinator Game, provide additional value to token holders and contribute to its long-term success.

The project has been audited by Solid Proof, ensuring transparency and trustworthiness. This audit provides peace of mind to investors and demonstrates the project’s commitment to security and reliability.

Lastly, Memeinator has already completed several phases, including team formation, blockchain development, and community building. It’s now moving into more exciting phases, including partnerships with influencers, the launch of exclusive NFTs, and the development of innovative products like the Memescanner and Memeinator Game.

Is Memeinator a good investment?

The question on every crypto investor’s mind before investing in any crypto project is whether the project is a good investment or not.

While no investment is risk-free, especially with cryptocurrencies which are known to be very volatile, Memeinator’s unique approach, innovative products, and AI technology set it apart from many meme coins in the market.

In addition, Memeinator has been successful in building a strong and engaged community. The support from the community can play a significant role in the project’s success. Also, the fact that Memeinator has been audited by Solid Proof adds an extra layer of credibility to the project. It suggests a commitment to transparency and security.

Memeinator also goes beyond the typical meme coin by offering utility in the form of the Memescanner and the Memeinator Game. This could attract users looking for more than just memes.

However, it’s important to note that the cryptocurrency market is highly volatile, and meme coins like the MMTR token can be particularly unpredictable. Potential investors should conduct thorough research, assess their risk tolerance, and consider the long-term potential of the project before making any investment decisions.

Conclusion

Memeinator’s Stage 5 presale has taken the cryptocurrency world by storm, raising over $1 million in a matter of days. The project’s unique approach, powered by AI technology, viral marketing, and a commitment to eliminating subpar memes, sets it apart from the crowded meme coin space.

While investing in meme coins can be speculative, Memeinator’s innovative products and audited projects offer a compelling case for those looking to diversify their cryptocurrency portfolios. However, as with any investment, it’s crucial to conduct your due diligence and consider your own risk tolerance before diving into the world of meme coins.

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Flare partners with Elliptic for crypto risk management

Flare partners with Elliptic to enhance blockchain security and compliance.
Integration offers real-time wallet and transaction screening for Flare’s decentralized applications.
Elliptic’s risk management tools will now support FLR, aiding the identification of illicit crypto activities.

In a strategic move to bolster security and regulatory compliance within the blockchain space, Flare, the innovative blockchain platform for data, has announced a partnership with Elliptic, a global leader in crypto asset risk management. This partnership comes barely three days after the Flare team unveiled a public staking service for FLR token holders, aligning with its transition to a proof-of-stake consensus model 

This collaboration aims to integrate Elliptic’s advanced transaction and wallet screening tools into the Flare network, offering crucial benefits to organizations building decentralized applications (dApps) on the platform.

Strengthening security with Elliptic integration

Flare’s integration with Elliptic marks a significant step forward in enhancing the security of dApps operating on the Flare blockchain. By leveraging Elliptic’s expertise, Flare provides its users with access to real-time wallet and transaction screening tools that can uncover any connections to illicit actors operating in the crypto space.

Elliptic’s wallet screening solution empowers users with precise due diligence capabilities to assess crypto wallets before transactions occur. This tool helps organizations thwart money laundering, comply with sanctions, and combat fraudulent activities, reinforcing the integrity of crypto transactions on the Flare network.

The partnership also introduces Elliptic’s automated transaction screening tool to the Flare ecosystem. This real-time monitoring solution traces the movement of crypto funds across different blockchains and assets, identifying links to activities such as terrorist financing, sanctioned entities, and other illicit behaviour. For dApp developers and users, this integration equips them with a robust defence against crypto-related financial crimes.

Elliptic’s crypto risk management tools

Elliptic, known as a global leader in crypto asset risk management, covers 99% of crypto assets by market capitalization and has amassed over 100 billion data points. This wealth of data allows Elliptic to provide accurate and actionable insights, enabling users to mitigate risks and maintain compliance with regulatory requirements.

The integration also extends to support Flare’s native asset, FLR, offering financial institutions, businesses, and regulators the tools necessary to identify a broad spectrum of illicit activities. These activities range from small-scale fraud schemes to more severe threats like money laundering, sanctions evasion, and terrorist financing.

With this partnership, Flare is making a clear statement about its commitment to secure and regulated dApp development. By providing enhanced security measures through Elliptic’s world-class screening tools, Flare aims to boost confidence, credibility, and user engagement within the Flare community, while ensuring that its blockchain remains a trusted platform for data-driven innovation.

In a world where the intersection of blockchain technology and regulatory compliance is vital, this partnership between Flare and Elliptic brings robust solutions to the table, ultimately making the crypto space safer and more transparent for all stakeholders involved.

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Bitget celebrates the 100th Republic Day of Turkey with ₺1 million TL scholarships and activities

Victoria, Seychelles, November 1st, 2023, Chainwire

Bitget, the leading cryptocurrency derivatives and copy trading platform, has announced an array of exciting activities with its Turkey-based users in celebration of the 100th Republic Day of Turkey, including a ₺1 million TL scholarship, Bitget blue scooters, and enticing airdrops.

In support of the youth of Turkey, Bitget will distribute the funds for its younger userbase to claim up to ₺1 million (TL) Fund. Bitget will start an initial fund of 500 thousand TL at the start of the event, and eventually aims to top up the scholarship fund to 1 million TL by adding new funds for each new valid user signup during the period.

The scholarship fund worth ₺1,000,000 ($35,000 approx.), as part of the company’s Blockchain4Youth CSR program, is for underprivileged students in Turkey. After each new user signs up and completes their KYC on the Turkish website, Bitget will contribute ₺150 towards the scholarship fund, on top of the initial ₺500,000. Users do not require any payment or individual contribution, any new signups would result in higher scholarship fund allocation from the platform. To participate, please visit – here.

“The Republic of Turkey has been at the forefront of crypto adoption. The rising interest in the region comes from younger generations and we’re enabling easy access to learn the complexities. Bitget’s scholarship fund is an example of the commitment paved to grow Turkey’s crypto landscape,” said Gracy Chen, Managing Director at Bitget.

Bitget is extending the Republic Day rewards offer to new users with remarkable incentives, including limited-edition NFT airdrops and a 1 Bitcoin (BTC) prize pool to share. The first 300 individuals to register an account on Bitget Turkey and successfully complete the mandatory KYC process will be awarded ₺140 (5 USDT), adding a boost to their initial trading journey at Bitget.

Bitget encourages all users to engage actively in trading activities. By depositing and trading a minimum equivalent of 60 USDT in TL, the platform is poised to deliver an additional 15 USDT reward to the first 100 users who fulfill this criterion. As an extra incentive, participants who finish special quests stand a chance to win from a pool of 1 BTC (₺973,640 approx.).

According to recent research conducted by Bitget, Millennials account for 46% of crypto enthusiasts and are more familiar with the internet and digital technologies than their more mature counterparts. The platform believes the Gen Z and younger crypto users, who grow up with the increasing adoption of crypto, will play a vital role in promoting crypto adoption, and therefore, aims to encourage and inspire the backbone of the future world, to join and follow the wave of crypto early.

The Bitget Builders Program is part of the broader Blockchain4Youth initiative, which Bitget launched in May 2023. This initiative has committed $10 million in funds over the next 5 years to empower young individuals to embrace blockchain through a series of educational activities tailored for youth, including campus lectures, U30 hackathons, blockchain online courses, certifications, and scholarships.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

 

Contact

Simran Alphonso
Bitget
media@bitget.com

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