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🚨 Hong Kong Authorities Officially Prohibit Unlicensed Crypto Exchanges 🇭🇰 Hong Kong regulators have formally prohibited the operation of unlicensed cryptocurrency exchanges within the region. This action is intended to improve regulatory supervision and safeguard investors by mandating that all functioning exchanges comply with strict licensing standards. Stay tuned for further updates on this important regulatory change. #HongKong #Crypto #Regulation #Blockchain #btc $BTC

🚨 Hong Kong Authorities Officially Prohibit Unlicensed Crypto Exchanges

🇭🇰 Hong Kong regulators have formally prohibited the operation of unlicensed cryptocurrency exchanges within the region. This action is intended to improve regulatory supervision and safeguard investors by mandating that all functioning exchanges comply with strict licensing standards. Stay tuned for further updates on this important regulatory change. #HongKong #Crypto #Regulation #Blockchain #btc $BTC

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🔥🔥🔥🔥Terraform Labs🔥🔥🔥 🔴Terraform Labs and its co-founder, Do Kwon, have reached a 'settlement in principle' with the U.S. Securities and Exchange Commission (SEC), according to a recent court entry. ⛔ 🔴This marks a pivotal moment in their legal battle with the SEC. A Thursday filing revealed that a Wednesday telephone conference, which was not recorded, led to the cancellation of a previously scheduled oral argument set for May 29. ‼ 🔴The filing stated, "The oral argument previously set for 5/29/2024 has been cancelled because the parties have informed the Court that they reached a settlement in principle. The parties must file, by 6/12/2024, papers in support of a proposed final judgment consistent with the settlement."🏘 🔴The SEC charged Terraform and Kwon in February 2023 over the collapse of the algorithmic stablecoin Terra USD (UST) a year earlier. Recently, the parties had been disputing the fine amounts, with Terraform and Kwon's lawyers arguing for fines closer to $1 million, while the SEC proposed a significantly higher fine of $5.3 billion.💰 🔴The trial against Terraform began in late March without Kwon, who was absent. In April, a jury found both Terraform and Kwon liable for civil fraud, concluding they had misled investors and violated federal securities laws through fraudulent activities associated with Terraform securities.🔐 🔴Meanwhile, Kwon remains involved in legal proceedings concerning his extradition to the U.S. or South Korea. He was arrested in Montenegro in March 2023 for using a counterfeit passport while trying to leave the country.$LUNA $LUNC $USTC #LUNA🔥🔥🔥 #LUNC✅ #USTC #TerraLabs #TerraClassic
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💥💥Terra Luna Classic💥💥 👉Binance has recently burned over 59 billion Terra Luna Classic (LUNC) tokens as part of its ongoing support for the Terra Luna community. According to Lunc Burn Tracker, the latest burn operation has pushed the total number of LUNC tokens burned by Binance to over 59 billion. 👉Typically, Binance performs these burns on the first day of each month, but they have recently conducted an additional burn. Despite a noticeable drop in trading volume in May, which has affected burn expectations for June, Binance remains committed to these monthly burns as a vital part of its support for the Terra Luna Classic ecosystem. 👉In addition to the scheduled monthly burns, Binance also conducts occasional surprise burns of LUNC tokens. This process of sending LUNC tokens to the burn wallet 🌰helps reduce the circulating supply, which is a significant effort by Binance to stabilize and rejuvenate the Terra Luna Classic ecosystem.⚜ 👉Earlier in May, Binance burned 1.4 billion LUNC tokens in its 21st burn batch since the initiative started. The most recent burn of 29,828 LUNC tokens brings the total to 59.07 billion. Binance is responsible for 50% of all $LUNC tokens burned, highlighting its crucial role in the Terra Luna revival efforts.🧬 👉The Terra Luna community has collectively burned a total of 113.71 billion LUNC tokens. Since 2022, Binance has been steadfast in its support through these monthly burns, which are central to the community's efforts to enhance LUNC’s price value and stability within the ecosystem.#EarnFreeCrypto2024
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