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🚀 Tether's $18.75M Boost for XREX: A Leap Forward in Financial Inclusion and Cross-Border Payments!

💰 Tether, the world's leading stablecoin, is making a big move towards financial inclusion and seamless cross-border transactions with its $18.75 million investment in XREX Group.

🌍 This strategic partnership aims to empower emerging markets by introducing innovative financial solutions and improving the efficiency of international payments.

🟢 XREX Group, a fully regulated blockchain-based financial institution, has garnered support from an impressive lineup of investors, including the Taiwanese Government National Development Fund and SBI Holdings.

🌐 Tether's investment aligns with its vision to revolutionize the global payment landscape, especially in facilitating USDT-based cross-border transactions and driving advancements in regulatory technology.

🤝 Paolo Ardoino, CEO of Tether, emphasizes their commitment to financial inclusion, stating that this collaboration will strengthen the infrastructure for international payments.

💼 With this injection of funds, XREX is set to enhance its capabilities in facilitating compliant B2B cross-border payments, offering businesses greater ease and potentially lower costs.

💡 But that's not all! XREX has even more ambitious plans in store. They're teaming up with the Unitas Foundation to launch XAU1, a USD-pegged stablecoin backed by Tether Gold (XAUt), providing customers with stability and protection against inflation.

🔒 The collaboration also focuses on Regulatory Technology (RegTech), ensuring secure transactions by enhancing solutions to detect and prevent illicit use of stablecoins.

🌟 Wayne Huang, CEO of XREX Group, highlights their successful collaboration with Tether in assisting law enforcement agencies—a testament to their commitment to a safe financial ecosystem.

🌐 As XREX continues to expand its reach, securing the Monetary Authority of Singapore's Major Payment Institution license, this investment will further support their talent acquisition and contribute to a more inclusive global financial system.
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🟥 YouTube Flooded with Over 35 Deepfake Videos of Elon Musk & Fake SpaceX Crypto Giveaways During SpaceX Launch

📣 On June 6, a cybersecurity report revealed that over 35 YouTube channels live-streamed a deepfake video of Elon Musk, promising to double crypto deposits. The scammers targeted space enthusiasts eager to watch the SpaceX starship rocket launch. Cybersecurity experts from Avast Threat Labs revealed on X that scammers hijacked over 35 YouTube pages.

⤵️ Investigators found that one of the dubious YouTube channels that mimicked the live-streamed SpaceX launch had 2.9 million subscribers but lacked a verification check mark. This was in contrast with the real SpaceX YouTube channel, which boasts 6.65 million subscribers and a verified check mark.

‼️ These fake SpaceX livestreams featured wide-angle shots of Musk speaking at an outdoor event, with some of the footage blurred to make them seem authentic. However, the AI-generated Elon Musk voice sounded convincing with phrases like “You have a chance to see your crypto propel exponentially as our rocket propels toward the stars” were said.

🟠 Mimicked vocal patterns of Musk, such as stutters, pauses, and words like “Umm” were also used at human-like intervals.

📌 The video went on to explain the benefits of investing in Bitcoin and the potential profits available to savvy investors. Thereafter, the deepfake video directed viewers to scan a QR code and send cryptocurrencies to an address controlled by the thieves. The QR code remained on the screen for the entirety of the livestream.

➡️ This is not the first time Elon Musk will be targeted by bad actors who use his image to scam unsuspecting crypto users. In October 2023, an Elon Musk crypto scam deepfake promised 30% returns on deposits as users were encouraged to invest in the BitVex trading platform.

➡️ Also, on May 13, 2024, the Hong Kong Securities and Futures Commission issued a warning against a crypto exchange using Elon Musk’s deepfake to promote him as the lead developer. Quantum AI allegedly used Musk’s deepfake videos of Musk to deceive people into believing he is the brain behind the platform.
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🚨 Chinese Criminal Gang Sentenced for Laundering Money with Digital Yuan

💰 In a groundbreaking case, a criminal gang in China has been sentenced for their involvement in an international money laundering scheme. But what sets this case apart is the use of digital yuan as their preferred tool for illicit transactions.

🔒 The People’s Procuratorate of Yuecheng District, Shaoxing, cracked down on this operation, bringing to justice three individuals: Yuan, Zhang, and Kou. Their crime? Using digital yuan accounts to cash out and conceal the proceeds of their illegal activities.

💸 The modus operandi was as clever as it was audacious. It all started when Yuan responded to a part-time job ad on social media. Little did he know that this seemingly innocent gig would lead him down a dark path of financial wrongdoing.

📲 Tasked with cashing out vendors' digital yuan wallets, Yuan would receive a commission of 0.8%. To facilitate the process, he would purchase cryptocurrency, acting as a middleman between the digital and physical worlds of money.

💼 As the operation gained momentum, Yuan realized he needed help to scale things up. Enter Zhang and Kou, enticed by promises of extra cash for their involvement. Together, they formed a tight-knit gang ready to exploit the loopholes in the system.

🌐 To avoid detection, the gang went international, using unregulated messaging apps from overseas to communicate with their mysterious employer. This cat-and-mouse game allowed them to continue their fraudulent activities across different cities in Zhejiang province.
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🔒 Trezor Safe 5: The Ultimate Crypto Storage Solution is Here!

🚀 Trezor, the leading name in crypto hardware wallets, has just dropped a bombshell with the release of their latest flagship device, the Trezor Safe 5 (TS5). This sleek and secure wallet is a game-changer for anyone serious about protecting their digital assets.

💰 Priced at just $169, the TS5 comes in a Bitcoin-only version and packs a punch with its upgraded security features. With a vibrant haptic colour touchscreen and improved backup options, this wallet is as user-friendly as it gets.

🎉 Trezor CEO Matěj Žák stole the show at BTC Prague, unveiling not only the TS5 but also an exciting new service called Trezor Expert. This platform aims to guide newcomers through the sometimes daunting world of self-custody, offering personalized advice from a trusted brand.

🌐 As the crypto landscape continues to evolve, it's crucial to stay ahead of the game. That's why Trezor remains a top pick among savvy investors. In fact, it's listed as one of the best crypto wallets in June 2024, securing its spot at number 10.

🔐 With advanced security features like secure element protection and support for multi-factor authentication, Trezor keeps your digital fortune locked up tight. Plus, with support for over 1,800 cryptocurrencies and a robust suite of management tools, it's a one-stop-shop for all your crypto needs.

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South Korea Invests $14.5M in Blockchain Revolution

➡️ South Korea is taking a giant leap into the future with its $14.5 million blockchain support program. Led by the Ministry of Science and ICT and KISA, this initiative aims to boost innovation in both the public and private sectors.

🌐 The public sector will witness groundbreaking projects like CBDC-based digital vouchers and streamlined online referendums. Imagine having your government-issued vouchers on your phone, making payments a breeze!

💼 Meanwhile, the private sector is not lagging behind. Companies like CP Labs and Oasis Business are set to develop cutting-edge platforms for blockchain support and financial management, respectively.

🌍 "We're not just thinking local," says Eom Yeol from the Ministry of Science and ICT. "We want to introduce these innovative services to the global market." From mobile IDs to ticket scalping prevention, South Korea is embracing blockchain's potential across industries.
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🔍 SPOTLIGHT ON $ZYPTO TOKEN

Zypto.com recently launched their innovative user-friendly wallet and payments app. Their payment gateway and crypto card offerings continue to grow.

Zypto also provide white label crypto cards and payment gateway solutions to many well-known crypto projects.

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Zypto offers secure, scalable products to buy, sell, trade and spend cryptocurrencies. All Zypto products and services are designed to work towards mass adoption of crypto for day-to-day payments. Zypto's All-in-One Wallet is available on Google Play and iOS now!

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The business is led by a powerhouse team of blockchain entrepreneurs with high level connections across the crypto space as well as the traditional finance and payments industry. The community-led $Zypto Token provides support to the company in exchange for a % of the company's revenue.

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Zypto has already publicly announced partnerships with companies such as Gate Pay (Gate.io's payment gateway), ChangeNow an Onramper. However, it has already acknowledged that there will soon be announcements of much bigger partnerships!

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$Zypto is used within the Zypto ecosystem to distribute rewards (distributed daily in the app), to qualify for cashback boosts on purchases, swaps, etc. and other perks. $ZYPTO will also be used for governance (details TBA soon).

📈 Favorable Market Trends
Crypto payments is a sector with massive upside potential. You are invited to join one of the world's fastest-growing ecosystems focused on taking crypto into billions of people's daily lives.

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The Zyptonian community is vibrant, enthusiastic and supportive. The $ZYPTO community loves to welcome new members and will always help both newcomers to crypto and seasoned veterans alike.

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🚨 Bitcoin ATM Scammer Imitating Chase Bank Caught Red-Handed! Elderly Woman Rescued!

👮‍♂️ In a heroic act, a Texas police officer thwarted a Bitcoin ATM scam targeting an unsuspecting senior citizen. The scammer, posing as Chase Bank, convinced the woman to deposit a whopping $40,000 into the machine.

👌 Thanks to an alert citizen who sensed trouble and reported it, the White Settlement Police Department sprang into action. Chief Christopher Cook praised the vigilant individual for spotting the danger signs.

🚔 The officer arrived just in time to catch the scammer in action. Threatening arrest if she didn't comply, the imposter had already coerced the victim into withdrawing cash from a local Chase Bank before leading her to the Bitcoin ATM.

📌 Dashcam footage captured the intense moment when the officer intervened, disrupting the scammer's plans. However, not all was saved – $23,900 had already been deposited into the deceptive machine.

💼 While efforts are underway to recover and return the funds, it serves as a reminder to stay cautious in this digital age of financial fraud.

📈 On another note, after a brief setback in May, Bitcoin ATMs are making a comeback. With 93 new installations across the US alone, these convenient crypto kiosks are once again on the rise!
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👀 Consensys Pleads for Breathing Room: IRS Crypto Reporting Regulations Under Scrutiny

🟥 In a formal plea to the U.S. Internal Revenue Service (IRS) on June 21, Consensys, a leading blockchain development firm, urged for a delay in the implementation of proposed tax regulations that would burden cryptocurrency brokers and exchanges with reporting digital asset transactions.

📝 The Proposed IRS Crypto Regulation and Form 1099-DA
Consensys' letter highlights concerns over the August 2023 proposal, which aims to treat crypto brokers like their traditional counterparts. The hitch? Entities not accustomed to reporting obligations would now have to file Form 1099-DA for specific crypto dealings.

🔍 A Murky Definition of "Broker"
April 2024 saw the release of another draft form that raised eyebrows in the industry. Its broad definition of a "broker" encompassed not just exchanges but also kiosk operators and wallet providers, both hosted and unhosted.

🤔 Clear Instructions Needed, Parties at Risk
Consensys criticized the draft form's lack of clarity, warning that it could lead to duplicate reporting. Ji Kim from the Crypto Council for Innovation echoed these concerns, labeling the inclusion of unhosted wallet providers as "unfortunate."

Privacy Concerns and Compliance Crunch
Time is ticking, and Consensys points out that the tight compliance window before the upcoming tax filing deadline coupled with privacy worries could spell trouble for blockchain developers. They fear that being classified as brokers might force them to manually complete forms and even threaten U.S. companies providing blockchain user interfaces.

💡 A Shift Towards Stricter Reporting?
While no high-profile legal battles between crypto exchanges and the IRS have made headlines so far, these proposed regulations suggest an increased focus on ensuring proper reporting of taxable crypto activities.
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🚀 Former DOJ Attorney: SEC v. Coinbase Could Redefine US Crypto Regulation

💼 The U.S. Securities and Exchange Commission (SEC) has taken legal action against Coinbase, alleging the exchange's involvement in unregistered securities trading. This lawsuit carries significant implications for the future of cryptocurrency regulation in the United States.

🔍 In an exclusive interview with Cryptonewscom, former Department of Justice Attorney Seth Goertz delved into the potential consequences of the SEC v. Coinbase case. He stressed that this legal battle has the power to reshape crypto regulations across the board, impacting not just Coinbase but also other exchanges and the wider market.

📉 The SEC's argument centers around certain cryptocurrencies listed on Coinbase, which they claim should have been registered as securities under existing laws. This move by the Commission aims to establish a firmer regulatory grip on a market that has often operated in a legal gray area.

👌 Recent developments have seen Coinbase's attempt to dismiss the case rejected, signaling that there may be enough substance to the SEC's allegations to warrant further examination.

🗣 Goertz shed light on the opposing legal arguments. The SEC contends that assets traded on Coinbase fall within the purview of the Howey Test, a benchmark for determining whether something qualifies as a security. Conversely, Coinbase maintains that these assets do not meet the criteria and should not be subject to SEC oversight.

💡 As this high-stakes legal battle unfolds, its impact on the broader digital asset industry cannot be understated. A ruling favoring the SEC could usher in heightened regulatory scrutiny and compliance obligations for crypto exchanges, potentially reshaping market dynamics.
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