CryptoUK, a self-regulatory trade association for the United Kingdom’s crypto industry, has released a comprehensive guide to help navigate the complexities of complying with the U.K.’s crypto Travel Rule.
This rule is designed to enhance transparency in crypto transfers.
The CryptoUK Travel Rule Working Group has issued a detailed 36-page guide aimed at assisting crypto businesses in understanding and complying with the U.K.’s Travel Rule.
This effort was led by Elliptic’s senior policy adviser, Mark Aruliah, and Notabene’s regulatory and compliance senior associate, Catarina Veloso.
They collaborated with key stakeholders to provide insights on compliance challenges faced by the industry.
Implemented on September 1, 2023, the U.K.’s Travel Rule mandates that virtual asset service providers (VASPs) collect, verify, and share information regarding crypto transfers.
VASPs are also required to conduct risk-based assessments before making cryptocurrency available to the recipient.
A spokesperson from CryptoUK told Cointelegraph that the guide is intended to help VASPs, crypto businesses, and other market participants understand how to apply the rule within the United Kingdom.
While CryptoUK has worked with regulators to clarify the rules for businesses, challenges remain in navigating these regulations.
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As CryptoUK noted, “there are still complications for organizations in the multi-jurisdictional approach of the Travel Rule and as such, we produced this guide to help share some best practices with organizations in terms of how to navigate the U.K. environment.”
Consequently, the guide includes insights into the compliance approaches of member companies in its Travel Rule Working Group.
Regarding compliance, the spokesperson highlighted that the rule applies to companies registered with the Financial Conduct Authority (FCA) and involves unhosted wallet transfers and inter-crypto asset transactions between U.K.-based firms.
These businesses must collect, verify, and share information about the source of funds and the beneficiary when transferring digital assets.
The spokesperson added that the specifics of the transfer will determine the level of information required to be collected, verified, and transmitted.
CryptoUK believes that the U.K. is making significant progress in crypto regulation.
“The U.K. has been making progress in its approach to regulatory clarity with many inroads being made in the past few years,” the spokesperson stated.
Despite potential delays due to upcoming elections, CryptoUK aims to continue driving discussions with the new government to ensure the U.K. remains at the forefront of crypto regulation.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Don’t Stop Daddy (DSDCOIN) presents a similar opportunity for a limited time.
Don’t Stop Daddy (DSDCOIN), a newly launched Solana memecoin, is poised to explode over 17,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
DSDCOIN will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Don’t Stop Daddy.
Currently, Don’t Stop Daddy can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy DSDCOIN on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Don’t Stop Daddy by entering its contract address – GqtsBS3rK2hw5CUPumQBxGVdTkttmPL94npHDY3euqZq – in the receiving field.
DSDCOIN currently has a market cap of just under $16,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Pink Pepe (PINKPEPE) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Pink Pepe (PINKPEPE), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Pink Pepe presents a similar opportunity.
Pink Pepe has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Pink Pepe could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Pink Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Pink Pepe on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pink Pepe by entering its contract address – 3CHkxCxLnDs8otVeGrn64JEcde5QcQKSxY4Y9QaUAU7F – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PINKPEPE.
United States-based spot Bitcoin exchange-traded funds (ETFs) experienced significant inflows of $488.1 million on June 5.
However, data from Google indicates that public interest in these ETFs remains low compared to the 2021 bull run, suggesting that retail investors have yet to re-enter the market.
On June 4, the ETFs saw their second-highest inflow day, totaling $886.6 million.
The following day, inflows were approximately half that amount, with the Fidelity Wise Origin Bitcoin Fund contributing the largest portion at $220.6 million, according to Farside Investors data.
BlackRock’s iShares Bitcoin Trust followed with $155.4 million, and the Grayscale Bitcoin Trust, despite net outflows exceeding $17.8 billion since January, recorded $14.6 million in net inflows.
Despite the robust inflows and Bitcoin’s surge past $71,000, Google Trends data shows minimal search activity related to Bitcoin and Bitcoin ETFs in the U.S. compared to 2021.
On June 5, searches for “Bitcoin” scored 31 out of 100, while “Bitcoin ETF” scored only 1.
Other terms like “Bitcoin price” and “crypto” scored 18 and 13, respectively, but these numbers are still significantly lower than those during the 2021 bull run.
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Interest in crypto-related searches has diminished over the past year, with notable spikes on January 11, when the U.S. approved 10 spot Bitcoin ETFs, and on March 5, when Bitcoin surpassed $69,000 for the first time since 2021.
Search interest for “Bitcoin” peaked in May 2021. This was shortly after Bitcoin first surpassed $50,000, eventually reaching its all-time high of nearly $69,000 in November 2021.
Crypto analyst Miles Deutscher highlighted in a June 6 X post that viewership of crypto-related YouTube channels has significantly declined from 2021 levels, despite Bitcoin achieving new highs.
In 2021, crypto YouTube viewership was around four million daily views, but it dropped to about 800,000 views per day in 2024.
“Retail isn’t back yet,” Deutscher asserted.
“There is no indicator in the world that sums up the current state of the market better than crypto [YouTube] views.”
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Donald Humps could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Donald Humps (DONHUMPS), a new Solana memecoin that was launched this week, is poised to explode over 14,000% in price in the coming days.
This is because DONHUMPS has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Donald Humps can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Donald Humps could become the next viral memecoin.
Donald Humps launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Donald Humps on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Donald Humps by entering its contract address – Bomc2UuYYDUXDY9WKk7SBQSRTx1orjGex6XsYY7FGJsu – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DONHUMPS.
Bitcoin is poised to extend its current bull run, fueled by a record high in global liquidity.
On June 5, Philip Swift, the creator of the on-chain data platform LookIntoBitcoin, published an analysis revealing that worldwide liquidity is approaching $100 trillion.
This surge in liquidity is significant for Bitcoin and crypto markets, which are highly sensitive to global liquidity trends.
According to Swift, 2024 presents ideal conditions for a BTC price increase.
Swift’s platform monitors the global M2 money supply and its correlation with Bitcoin’s price behavior.
In terms of U.S. dollars, M2 has reached $94 trillion, surpassing previous levels by $3 trillion since Bitcoin’s peak at $69,000 in late 2021.
After dipping to $85 trillion in late 2022, during the depths of the crypto bear market, M2 has rebounded by 10%.
“The most important chart for this bull run has just made a new all-time high,” Swift commented on X. “Are you ready?”
This data aligns with other recent findings that also predict a bullish trajectory for Bitcoin.
Notably, Bitcoin’s performance against the U.S. M1 money supply is breaking out from a seven-year consolidation period, the longest in its history, which suggests significant upside potential.
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As financial conditions ease, additional analysis indicates growing interest in crypto and risk assets among institutional investors.
The on-chain analytics platform CryptoQuant, in its latest “Weekly Report” shared with Cointelegraph, drew parallels to investor behavior in 2020.
It noted, “Indeed, large investors are adding about $1B into Bitcoin, paralleling 2020 before the rally from $10K to $70K.
Back in 2020, Bitcoin hovered around $10k for 6 months with high on-chain activity, later revealed as OTC deals.”
CryptoQuant’s report further emphasized that despite low price volatility, on-chain activity remains high, with $1 billion added daily by new whale wallets, likely in the form of Bitcoin purchases from institutional investors moving into custody wallets.
An accompanying chart from CryptoQuant compares the aggregate cost basis, or realized price, of new whales from 2020 to 2024.
Additionally, CryptoQuant highlighted the increasing inflows to U.S. spot Bitcoin exchange-traded funds (ETFs), which saw their second-highest net inflows on June 4.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Donkey Coin (DONKCOIN) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Donkey Coin (DONKCOIN), a Solana memecoin that was launched this week, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Donkey Coin presents a similar opportunity.
Donkey Coin has a market cap below $12,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Donkey Coin could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Donkey Coin can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Donkey Coin on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Donkey Coin by entering its contract address – 44Xxbp2Z1c9puZUrqmxUoCUGBVEckAfQPPnHukG8vKFC – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like Donkey Coin.
Be cautious if an employer asks you to send cryptocurrency to start your dream work-from-home job. The United States Federal Bureau of Investigation (FBI) warns that it’s likely a scam.
In a statement on June 4, the FBI highlighted a rise in work-from-home job advertisement scams.
Scammers contact potential victims with unsolicited calls or messages, offering simple jobs like rating restaurants or “optimizing” a service by clicking a button repeatedly.
Victims may believe they’re earning money as scammers direct them to a fake interface showing earnings, which can never be cashed out.
The scam intensifies when victims are asked to make cryptocurrency payments to the fake employer to “unlock” more work, with the payments going directly to the scammer.
“You are directed to make cryptocurrency payments to your employer as part of a job,” the FBI noted.
Red flags that may indicate a scam include job descriptions that excessively use the word “optimization” and those that do not require references during recruitment.
With the increasing popularity of the work-from-home lifestyle, more people are falling for these traps. According to Statista data, remote workers globally rose to 28% by the end of 2023.
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Remote workers also enjoy the freedom to choose their base locations.
In an interview with Cointelegraph Magazine, Dominic Frei, a crypto consultant based in Canggu, shared that he moved his family from Switzerland to Bali for a better lifestyle and climate.
This warning comes just months after the FBI released alarming statistics about crypto-related fraud in 2023.
On March 9, Cointelegraph reported that investment losses involving crypto rose from $2.57 billion in 2022 to around $3.94 billion in 2023, a 53% increase.
One of the most common crypto scams is the romance scam.
Here, a criminal adopts a fake online identity to gain a victim’s affection and trust before persuading them to send crypto, only to disappear afterward.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Millionaire Cat (MILICAT), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
Currently, Millionaire Cat can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Millionaire Cat could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Millionaire Cat launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Millionaire Cat on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Millionaire Cat by entering its contract address – 6BkC9BeoBpxDJEw7n5g9hvN1BP8xoLuvtFc4SGrxeVp3 – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MILICAT.
DMM Bitcoin, a Japanese cryptocurrency exchange, recently suffered a hack resulting in the loss of $320 million worth of Bitcoin.
To address this breach, the company plans to raise 50 billion yen ($320 million) to compensate affected users.
In a statement issued on June 5, DMM Bitcoin detailed its plan to recover the stolen funds by acquiring an equivalent amount of Bitcoin from its parent company, DMM.com.
The exchange reassured users that it would “take care” to minimize the market impact of these purchases.
The company is conducting an ongoing investigation into the “unauthorized outflow” of 4,503 BTC that occurred on May 31.
DMM Bitcoin “deeply” apologized for the incident and its repercussions on its customers, pledging to “continue to investigate the cause of the unauthorized outflow.”
They also committed to keeping the public informed of any new developments as they arise.
To fund the compensation for its customers, DMM Bitcoin secured a loan of five billion yen ($32 million) on June 3.
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Further financial measures include a planned capital increase of 48 billion yen ($308 million) scheduled for June 7, and an additional two billion yen ($12.8 million) through subordinated debt financing on June 10.
This financial support from DMM.com is intended to ensure that the exchange has the necessary funds to “guarantee customers’ Bitcoin holdings.”
The DMM Bitcoin hack is ranked as the eighth-largest cryptocurrency hack in history, making it one of the top 10 biggest crypto exchange hacks of all time.
The largest hack to date occurred in March 2022, when the Ronin Network’s validator nodes were exploited, resulting in the theft of $620 million.
In response, Ronin significantly enhanced their security measures, introduced $1 million bug bounties, and doubled their validator nodes to prevent future incidents.
DMM Bitcoin’s proactive steps in securing funds and ongoing investigation aim to restore user trust and ensure the stability of their platform amidst the aftermath of this significant security breach.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.