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Chainlink and XRP Investors Turn to This $0.0015 Token Poised for 20,000% Returns in 2025
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You can also read this news on COINTURK NEWS: Beware of Crypto Scams Targeting Trusting Users The world of cryptocurrency is increasingly plagued by scams targeting participants. Recently, a common tactic has emerged in YouTube comments featuring messages about possessing “Tether” (USDT) and asking how to transfer funds to another wallet. Such messages are designed to lure victims into purchasing “Tron” (TRX) and transferring these assets elsewhere. Details of the Deception According to Kaspersky, a cybersecurity company based in Russia, this scam method is cleverly designed. The messages explicitly share recovery phrases, prompting some readers to use them in attempts to access their wallets. However, while USDT may be present, TRX is typically missing. To transfer USDT, a small amount of TRX must be sent first.
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China’s Central Bank Highlights Cryptocurrency Regulation in Financial Stability Report In its recently released 2024 Financial Stability report, the People's Bank of China (PBOC) underscored the importance of regulating crypto activities amidst ongoing global efforts. The report, published on Friday, included a section specifically addressing the regulatory landscape for cryptocurrencies and detailed Hong Kong's burgeoning crypto licensing regime. The PBOC noted that 51 jurisdictions worldwide have imposed bans or restrictions on cryptocurrency assets. This includes mainland China, where a blanket ban on all crypto trading and mining was implemented in September 2021. In contrast, Hong Kong has adopted a different approach, actively welcoming crypto firms. As of June 2023, the region has officially launched a licensing regime for crypto trading platforms, permitting licensed exchanges to provide retail trading services. The report also highlighted that major financial institutions, including HSBC and Standard Chartered Bank, are now required to monitor crypto transactions as part of their standard customer supervision protocols. This move signifies a shift in regulatory practices within Hong Kong, which aims to integrate cryptocurrencies into the existing financial framework. Additionally, the PBOC is committed to enhancing an international regulatory framework for crypto assets, as suggested by the Financial Stability Board. While the central bank acknowledged that the connections between crypto activities and systemically important financial institutions may be limited, it warned that crypto could pose risks in certain economies, particularly as their use in payment systems and retail investments expands.
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