Binance has registered with FIU in India
Binance, the world’s largest cryptocurrency exchange, has registered with the Financial Intelligence Unit (FIU) in India. The move comes after Binance was banned in December for violating local legislation. The FIU requires virtual digital asset service providers to register and adhere to anti-money laundering regulations. Binance cannot restart operations until it pays a fine for…
Gold soar high, India demands slip low
India’s demand for physical gold was significantly lower during Akshaya Tritiya, the second-largest festival for buying gold after Dhanteras. Dealers offered discounts to prevent retail consumers from purchasing at nearly record-high prices. Over 21% of prices have increased since the previous Akshaya Tritiya festival. Indian dealers were offering discounts of up to $7 per ounce…
Binance sued $4.38 million for money laundering violation
Binance, a cryptocurrency exchange, was fined over C$6 million ($4.38 million) by Canada’s anti-money laundering agency for violating money laundering and terrorism funding laws. The company failed to register as a foreign money services business and failed to disclose receiving virtual currency valued at C$10,000 or more on 5,902 consecutive occasions between June and July…
No rates cut needed in short term, Holzmann said
Austrian central bank governor Robert Holzmann emphasized that the European Central Bank should not rapidly or sharply lower interest rates, citing the influence of the US Federal Reserve.
China’s premium EV will launch less than $30,000
China’s premium electric vehicle manufacturer Nio plans to launch a new mass-market model and a smaller EV in Europe for less than $30,000. The Onvo brand, which is currently known as “Alps,” will launch its new L60 model by the end of this month. The Firefly brand, codenamed “Alps,” will create smaller EVs for city…
Trump will support Taiwan if he won again
Former US ambassador to Taiwan, James Gilmore, believes Trump would endorse Taiwan again if he were to retake the White House. Despite Taipei’s objections, China claims Taiwan as its own territory. Trump’s administration from 2017 to 2021 provided substantial support for Taiwan, including weaponry deliveries. Gilmore, who was not an isolationist but advocated for American…
Canada’s services sector PMI rose to 49.3
S&P Global Canada’s services PMI data shows that while businesses saw some sales and increased hiring in April, the services sector grew slowly overall. Rising wages contributed to inflationary pressures. The headline business activity indicator reached a record point since June, rising to 49.3, the longest period in three years. The new business index improved…
South Korea aware for terrorism attack
South Korea’s foreign ministry has increased the terrorism alert level for five of its diplomatic missions in the region, including Seoul’s consulates in Vladivostok, Russia, Shenyang, Cambodia, Laos, and Vietnam. The National Intelligence Service (NIS) has stated that North Korea is preparing to carry out terrorist attacks against diplomatic officers and citizens. The North Korean…