urged – Coin Network News https://coinnetworknews.com If it's coin, it's news. Fri, 08 Mar 2024 09:30:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Embattled Binance Discontinues Nigerian Naira Services — Users Urged to Convert NGN Balances https://coinnetworknews.com/embattled-binance-discontinues-nigerian-naira-services-users-urged-to-convert-ngn-balances/ https://coinnetworknews.com/embattled-binance-discontinues-nigerian-naira-services-users-urged-to-convert-ngn-balances/#respond Fri, 08 Mar 2024 09:30:31 +0000 https://coinnetworknews.com/embattled-binance-discontinues-nigerian-naira-services-users-urged-to-convert-ngn-balances/ Binance, one of the leading crypto exchanges, has said it will discontinue all Nigerian naira services on March 8. The crypto exchange’s decision to drop trading pairs that feature the naira follows weeks of attacks and an official crackdown on its Nigerian operations. Crypto experts like Oladotun Wilfred Akangbe believe dropping the naira will temporarily […]

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]]> https://coinnetworknews.com/embattled-binance-discontinues-nigerian-naira-services-users-urged-to-convert-ngn-balances/feed/ 0 US Judge Urged to Approve Binance’s $4.3 Billion Plea Deal https://coinnetworknews.com/us-judge-urged-to-approve-binances-4-3-billion-plea-deal/ https://coinnetworknews.com/us-judge-urged-to-approve-binances-4-3-billion-plea-deal/#respond Wed, 21 Feb 2024 09:19:30 +0000 https://coinnetworknews.com/us-judge-urged-to-approve-binances-4-3-billion-plea-deal/ A U.S. Federal Judge has been urged to accept a plea deal from U.S. authorities with the cryptocurrency exchange, Binance. Prosecutors, in a memorandum, have asserted that the agreed-upon sanctions are commensurate with the extent of Binance’s deliberate law violations. Binance’s Alleged Refusal to Register as a Money Services Business U.S. prosecutors have reportedly urged […]

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]]> https://coinnetworknews.com/us-judge-urged-to-approve-binances-4-3-billion-plea-deal/feed/ 0 SEC Inspector General Urged To Investigate Prometheum SPBD Approval Amidst Crypto Regulatory Scrutiny https://coinnetworknews.com/sec-inspector-general-urged-to-investigate-prometheum-spbd-approval-amidst-crypto-regulatory-scrutiny/ https://coinnetworknews.com/sec-inspector-general-urged-to-investigate-prometheum-spbd-approval-amidst-crypto-regulatory-scrutiny/#respond Wed, 12 Jul 2023 19:37:53 +0000 https://coinnetworknews.com/sec-inspector-general-urged-to-investigate-prometheum-spbd-approval-amidst-crypto-regulatory-scrutiny/

The Blockchain Association, a nonprofit organization advocating for pro-innovation policies in relation to Bitcoin, has called for an investigation into the Securities and Exchange Commission (SEC) and its approval of Prometheum Ember Capital as a Special Purpose Broker Dealer (SPBD). In a letter to the Inspector General of the SEC, the association raises concerns about potential impropriety and ethical issues surrounding the approval process.

The letter highlights the lack of regulatory clarity regarding how U.S. securities laws apply to digital assets and criticizes SEC Chair Gary Gensler, accusing the SEC of overt hostility towards the digital assets industry while citing enforcement actions and proposed rulemaking that have impacted the sector. The approval of Prometheum as an SPBD is seen as concerning, as other companies with what the letter describes as “legitimate business models” have faced denials or delays in obtaining similar licenses.

The letter states Prometheum’s license approval comes at a time when the company has no working product or assets, raising further questions. The association questions whether Prometheum received preferential treatment or leveraged personal connections to gain an unfair advantage. They express concern that SEC Chair Gensler is using Prometheum and the SPBD licensure process to impede congressional efforts towards legislation and promote what it views as a false narrative, that the law is clear regarding digital asset securities. “There’s no question Prometheum is hiding something on its SEC relationship,” said Dan Spuller, head of industry affairs at the Association.

The Blockchain Association has submitted a request to the SEC under the Freedom of Information Act, seeking documents and communications related to the matter. They urge the opening of an investigation to address these concerns and provide clarity. The outcome of the investigation will determine whether there was any impropriety or validate the inferences made by the association.



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]]> https://coinnetworknews.com/sec-inspector-general-urged-to-investigate-prometheum-spbd-approval-amidst-crypto-regulatory-scrutiny/feed/ 0 Meta urged to ban minors from virtual world https://coinnetworknews.com/meta-urged-to-ban-minors-from-virtual-world/ https://coinnetworknews.com/meta-urged-to-ban-minors-from-virtual-world/#respond Fri, 14 Apr 2023 08:31:25 +0000 https://coinnetworknews.com/meta-urged-to-ban-minors-from-virtual-world/

Advocacy organizations and safety groups have urged Mark Zuckerberg’s social media giant Meta to halt plans allowing minors into metaverse.

Online safety groups and experts sent a letter to the Meta CEO on April 14, calling out the firm to scrap its plans to invite teenagers and young adults to join its metaverse app, Horizon Worlds. The letter was signed by major safety groups including airplay, the Center for Countering Digital Hate, Common Sense Media and others, according to a report by Bloomberg.

The activists argued that Meta must first assess potential risks of allowing youth in the metaverse as minors are likely to face harassment and privacy violations on its virtual reality app.

“Meta must wait for more peer-reviewed research on the potential risks of the metaverse to be certain that children and teens would be safe,” the advocates wrote in the letter.

The statement referred to a March report from the Center for Countering Digital Hate that found that users under 18 have already been facing harassment from adults on the app. The study specifically witnessed 19 episodes of of abuse directed at minors by adults, including sexual harassment, during 100 visits to the most popular worlds within Horizon Universe.

The safety experts argued that Meta should create a new path with its metaverse project to protect the youth, stating:

“Should Meta throw open the doors of these worlds to minors rather than pause to protect them, you would, yet again, demonstrate your company to be untrustworthy when it comes to safeguarding young people’s best interests.”

As previously reported, Meta started planning to open up Horizon Worlds to users aged 13 and 17 in February. The company first opened Horizon Worlds to users from 18 years old in 2021 but has since been struggling to keep users coming back to the platform.

Related: France’s metaverse consultation seeks input on alternative to tech ‘giants’

According to Bloomberg, Meta currently doesn’t plan to abandon its plans for miners in the metaverse but prepares to adopt some extra measures to protect such users from any metaverse-related violations, Meta’s Joe Osborne said.

“Before we make Horizon Worlds available to teens, we will have additional protections and tools in place to help provide age-appropriate experiences for them,” Osborne noted, adding:

“Quest headsets are for people 13+ and we encourage parents and caretakers to use our parental supervision tools, including managing access to apps, to help ensure safe experiences.”

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