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Thai Police Corruption Case: Officers Extort Millions from Chinese Resident
In mid-October, six Thai police reportedly broke into a Chinese citizen’s house, Mr. Sai, on the grounds of investigating passport forgery. They threatened to settle the case with 10 million #USDT , having taken phones and computers in an attempt to pressure him. Mr. Sai partially gave in and made the transfers. Later, he went to report the case to higher authorities. Such a case brought 12 arrests, of which 9 were police officers.
This high-profile case has brought to light corruption issues within Thailand’s law enforcement. Mr. Sai took action against intimidation and threats; the case was a bit more than a slip-up but part of deep-seated behavior misconduct. During the investigation, it was learned that the police officers, together with civilian accomplices, fabricated legal claims to extort money from Mr. Sai. Now, Thai police promise to prosecute those responsible for the scheme, according to qq.com.
Thai Police Corruption Case: Officers Extort Millions from Chinese Resident
In mid-October, six Thai police reportedly broke into a Chinese citizen’s house, Mr. Sai, on the grounds of investigating passport forgery. They threatened to settle the case with 10 million #USDT , having taken phones and computers in an attempt to pressure him. Mr. Sai partially gave in and made the transfers. Later, he went to report the case to higher authorities. Such a case brought 12 arrests, of which 9 were police officers.
This high-profile case has brought to light corruption issues within Thailand’s law enforcement. Mr. Sai took action against intimidation and threats; the case was a bit more than a slip-up but part of deep-seated behavior misconduct. During the investigation, it was learned that the police officers, together with civilian accomplices, fabricated legal claims to extort money from Mr. Sai. Now, Thai police promise to prosecute those responsible for the scheme, according to qq.com.
MiCA Stablecoin Rules Are Strictly Followed By Binance With Latest Updates
SOURCE: COINCU Square post
Key Points:
Binance will implement the EU's MiCA stablecoin rules on June 30, 2024, requiring regulated stablecoin issuers.MiCA stablecoin rules aim to enhance market clarity and stability, potentially increasing the adoption of Regulated Stablecoins.
Binance announced its plan to implement the new Markets in Crypto-Assets (MiCA) stablecoin regulations, which will come into effect on June 30, 2024, across the European Economic Area (EEA).
Read more: Understanding Types Of Stablecoins, Their Stability And Value
Binance Adopts EU's MiCA Stablecoin Rules
The significant regulatory framework, developed by the European Union over several years, aims to enhance oversight and consumer protection in the cryptocurrency market.
The MiCA stablecoin rules will mandate that stablecoins be issued and offered to the public only by regulated entities. These will be classified as “Regulated Stablecoins.” Existing stablecoins that do not meet these requirements will be deemed “Unauthorized Stablecoins” and will face certain restrictions.
To comply with these new MiCA stablecoin rules, Binance will implement phased changes to manage the availability of Unauthorized Stablecoins for EEA users, ensuring a smooth transition to Regulated Stablecoins. These changes will commence on June 30, 2024, and will include the following measures:
Binance Convert: The convert function for Unauthorized Stablecoins will switch to a “sell-only” mode. Depending on jurisdictional fiat channel availability, users can sell Unauthorized Stablecoins for other digital assets, Regulated Stablecoins, or fiat currencies. Buying Unauthorized Stablecoins via the Convert function will be disabled.Spot Trading: Trading pairs involving Unauthorized Stablecoins will remain available until further notice. Trading pairs with Unauthorized and Regulated Stablecoins will coexist during the transition period.Wallet Services: Custody and wallet services for Unauthorized Stablecoins will continue, allowing users to deposit or withdraw these stablecoins from their Binance wallets.
MiCA's Impact on Cryptocurrency Market
Unless otherwise noted, Binance will impose general restrictions across its entire product suite, preventing users from engaging in new products or services involving Unauthorized Stablecoins from June 30, 2024.
The regulatory update reflects the EU's efforts to bring more clarity and stability to the cryptocurrency market with the MiCA framework. Binance's measures demonstrate its commitment to compliance and user protection within this evolving regulatory landscape.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
#Binance #COINCU #BTC #altcoins #BinanceLaunchpool
Key Points:
Binance will implement the EU's MiCA stablecoin rules on June 30, 2024, requiring regulated stablecoin issuers.MiCA stablecoin rules aim to enhance market clarity and stability, potentially increasing the adoption of Regulated Stablecoins.
Binance announced its plan to implement the new Markets in Crypto-Assets (MiCA) stablecoin regulations, which will come into effect on June 30, 2024, across the European Economic Area (EEA).
Read more: Understanding Types Of Stablecoins, Their Stability And Value
Binance Adopts EU's MiCA Stablecoin Rules
The significant regulatory framework, developed by the European Union over several years, aims to enhance oversight and consumer protection in the cryptocurrency market.
The MiCA stablecoin rules will mandate that stablecoins be issued and offered to the public only by regulated entities. These will be classified as “Regulated Stablecoins.” Existing stablecoins that do not meet these requirements will be deemed “Unauthorized Stablecoins” and will face certain restrictions.
To comply with these new MiCA stablecoin rules, Binance will implement phased changes to manage the availability of Unauthorized Stablecoins for EEA users, ensuring a smooth transition to Regulated Stablecoins. These changes will commence on June 30, 2024, and will include the following measures:
Binance Convert: The convert function for Unauthorized Stablecoins will switch to a “sell-only” mode. Depending on jurisdictional fiat channel availability, users can sell Unauthorized Stablecoins for other digital assets, Regulated Stablecoins, or fiat currencies. Buying Unauthorized Stablecoins via the Convert function will be disabled.Spot Trading: Trading pairs involving Unauthorized Stablecoins will remain available until further notice. Trading pairs with Unauthorized and Regulated Stablecoins will coexist during the transition period.Wallet Services: Custody and wallet services for Unauthorized Stablecoins will continue, allowing users to deposit or withdraw these stablecoins from their Binance wallets.
MiCA's Impact on Cryptocurrency Market
Unless otherwise noted, Binance will impose general restrictions across its entire product suite, preventing users from engaging in new products or services involving Unauthorized Stablecoins from June 30, 2024.
The regulatory update reflects the EU's efforts to bring more clarity and stability to the cryptocurrency market with the MiCA framework. Binance's measures demonstrate its commitment to compliance and user protection within this evolving regulatory landscape.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
#Binance #COINCU #BTC #altcoins #BinanceLaunchpool