MELEGA

<p>Bitcoin (BTC) tumbles in a pre-halving correction, but whales like Michael Saylor see an opportunity. His company, MicroStrategy, just gobbled up another $600 million worth, adding to their already massive Bitcoin stash.</p>
<p>This aggressive move mirrors a bullish undercurrent—qualified institutional buyers are chomping at the bit, as evidenced by MicroStrategy's convertible note offering. But that's not all!</p>
<p>This week's crypto news is packed with game-changing developments, from the SEC grappling with Ether ETFs to the EU cracking down on anonymous transactions. Follow along as we unpack the latest events shaping the future of crypto.</p>
<p>For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to <a href="https://melega.finance/" rel="noopener noreferrer nofollow">visit our website</a> and follow Melega Finance (<a href="https://twitter.com/melega_swap" rel="noopener noreferrer nofollow">@melega_swap</a>) on Twitter for more on all things cryptocurrency.</p>
<h2 id="header-0">TOP CRYPTO NEWS RECAP (March 17–23, 2024)</h2>
<p>● Genesis Settles SEC Case with $21M Penalty</p>
<p>● EU Moves to Ban Anonymous Crypto Transactions in AML Clampdown</p>
<p>● SEC Delays Decision on Ether ETFs Amid Waning Approval Prospects</p>
<p>● SEC Investigates Efforts to Label Ether as Security</p>
<p>● Judge Advances Class-Action Lawsuit Against Silvergate Bank Over FTX Fraud Allegations</p>
<p>● BlackRock Ventures into Tokenization with New Digital Fund</p>
<h3 id="genesis-settles-sec-case-with-21m-penalty">Genesis Settles SEC Case with $21M Penalty</h3>
<p>Genesis Global Capital <a href="https://www.sec.gov/news/press-release/2024-37" rel="noopener noreferrer nofollow">agrees to pay</a> a $21 million civil penalty, settling charges over the Gemini Earn lending program. The SEC accused Genesis and Gemini of unregistered securities offerings, emphasizing the necessity for compliance with securities laws. The settlement, subject to bankruptcy proceedings, follows Gemini's $37 million penalty for compliance failures, aiming to return over $1.8 billion in cryptocurrency assets to users.</p>
<h3 id="eu-moves-to-ban-anonymous-crypto-transactions-in-aml-clampdown">EU Moves to Ban Anonymous Crypto Transactions in AML Clampdown</h3>
<p>The European Parliament's committees have <a href="https://www.consilium.europa.eu/en/press/press-releases/2024/01/18/anti-money-laundering-council-and-parliament-strike-deal-on-stricter-rules/" rel="noopener noreferrer nofollow">endorsed </a>new Anti-Money Laundering regulations that include a ban on anonymous cryptocurrency transactions through hosted wallets. This decision, part of broader efforts to tackle money laundering and terrorist financing, mandates the identification of parties in all crypto transactions, regardless of their value. Critics, including Patrick Breyer of the Pirate Party, argue this undermines financial privacy and economic independence, fearing it could limit the fundamental principles of cryptocurrency and its use within the EU.</p>
<h3 id="sec-delays-decision-on-ether-etfs-amid-waning-approval-prospects">SEC Delays Decision on Ether ETFs Amid Waning Approval Prospects</h3>
<p>The SEC <a href="https://www.sec.gov/files/rules/sro/nasdaq/2024/34-99771.pdf" rel="noopener noreferrer nofollow">postpones </a>verdicts on Hashdex and ARK 21Shares Ether ETFs, signaling dwindling hopes for approval. Analysts grow pessimistic, with odds dropping to 32%. Grayscale is considering adding staking to its ETF proposal, aiming to mitigate inflationary pressures. With Ethereum's price volatility, public sentiment declines, contrasting with the reverse scenario observed during Bitcoin's ETF race.</p>
<h3 id="sec-investigates-efforts-to-label-ether-as-security">SEC Investigates Efforts to Label Ether as Security</h3>
<p>The U.S. Securities and Exchange Commission (SEC) has <a href="https://fortune.com/crypto/2024/03/20/sec-gary-gensler-ethereum-security-commodity-crypto-foundation/" rel="noopener noreferrer nofollow">reportedly issued</a> subpoenas to U.S. companies involved in efforts to classify Ether as a security. This investigation follows the Ethereum Foundation's suggestion of being under state scrutiny, potentially leading to regulatory classification of Ether. While the SEC has approved Ether futures-based ETFs, it's yet to decide on spot ETH ETFs. The move signals growing regulatory scrutiny over cryptocurrency classifications, sparking concerns and calls for regulatory clarity.</p>
<h3 id="judge-advances-class-action-lawsuit-against-silvergate-bank-over-ftx-fraud-allegations">Judge Advances Class-Action Lawsuit Against Silvergate Bank Over FTX Fraud Allegations</h3>
<p>A federal judge in San Diego has <a href="https://www.courtlistener.com/docket/67659723/25/bhatia-v-silvergate-bank/" rel="noopener noreferrer nofollow">ruled </a>that Silvergate Bank must face a class-action lawsuit for allegedly aiding fraud at cryptocurrency exchange FTX and Alameda Research. The court dismissed Silvergate's bid to dismiss the lawsuit, finding sufficient allegations that the bank was complicit in FTX's fraud, enriching itself at the expense of FTX customers. Despite Silvergate's denials, the lawsuit claims the bank processed and accepted transfers that facilitated the misuse of customer funds, significantly boosting its income. This ruling comes after Silvergate's collapse in March 2023, following the downfall of FTX in November 2022.</p>
<h3 id="blackrock-ventures-into-tokenization-with-new-digital-fund">BlackRock Ventures into Tokenization with New Digital Fund</h3>
<p>BlackRock, the globe's leading asset manager, has initiated its journey into <a href="https://twitter.com/rleshner/status/1770151746129563777" rel="noopener noreferrer nofollow">asset tokenization </a>by filing for the BlackRock USD Institutional Digital Liquidity Fund with the SEC. This innovative move, marking the company's entry into tokenized asset funds, aims to revolutionize financial asset management with benefits such as instant settlement and enhanced security.</p>
<p>With a $100,000 minimum investment, the fund will leverage the Ethereum blockchain for its operations, highlighting BlackRock's commitment to integrating blockchain technology into traditional finance.</p>
<h2 id="header-1">NEWS FROM MELEGA ECOSYSTEM</h2>
<h3 id="a-href-https-xex-exchange-rel-noopener-noreferrer-nofollow-xex-xex-farm-pool-listed-on-melegaswap-a"><a href="https://xex.exchange/" rel="noopener noreferrer nofollow">XEX (XEX) Farm &amp; Pool Listed on MelegaSwap</a></h3>
<p><a href="https://t.me/melegachannel/458" rel="noopener noreferrer nofollow">The</a><a href="https://t.me/melegachannel/458" rel="noopener noreferrer nofollow"> XEX token</a> is the native crypto asset of the XEX Exchange, now available on Melegaswap AMM, a renowned decentralized crypto exchange. XEX is designed to provide users with a seamless and intuitive trading experience, making it an ideal choice for both novice and seasoned traders. To celebrate the listing, users will receive a substantial 100% deposit bonus when depositing funds into the exchange. This exciting development follows the successful fair launch of the XEX token on GemPad.</p>
<h3 id="a-href-https-taskon-xyz-campaign-detail-40055-rel-noopener-noreferrer-nofollow-exciting-news-melega-announces-marco-tokens-giveaway-a"><a href="https://taskon.xyz/campaign/detail/40055" rel="noopener noreferrer nofollow">Exciting News: Melega Announces MARCO Tokens Giveaway</a></h3>
<p>We have launched a giveaway where 1,000 $MARCO tokens, our flagship cryptocurrency, will be distributed to 10 lucky winners. Participants can enter by completing simple social tasks such as following us on Twitter and retweeting our posts. Each winner will receive 100 MARCO tokens. Don't miss out on this opportunity to get your hands on our valuable cryptocurrency asset! Learn more: <a href="https://taskon.xyz/campaign/detail/40055" rel="noopener noreferrer nofollow">https://taskon.xyz/campaign/detail/40055</a></p>
<h3 id="">•••</h3>
<p><em><strong>Risk warning: </strong>Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.</em></p>
<h3 id="trade-with-the-best-decentralized-amm-cryptocurrency-exchange">Trade with the best decentralized AMM cryptocurrency exchange</h3>
<p>Do you want to buy, sell, and invest in cryptocurrencies while still having 100% control of your crypto assets? If yes, then Melega Finance is for you. MelegaSwap is a leading automated market maker (AMM) decentralized exchange that offers users various options to trade and earn free tokens at high-interest rates and low charges.</p>
<p>At Melega, nobody manages your funds for you because you manage them directly from your wallet, while smart contracts transparently take care of everything else.</p>
<p><strong>Learn More About the Melega Ecosystem</strong></p>
<p>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p>
<p>Website:<a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow"> https://melegaswap.finance</a></p>
<p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</a></p>
<p>Telegram: <a href="https://t.me/melegacommunity" rel="noopener noreferrer nofollow">https://t.me/melegacommunity</a></p>
<p><a href="" rel="noopener noreferrer nofollow">Twitter</a>: <a href="https://twitter.com/meleganza" rel="noopener noreferrer nofollow">https://twitter.com/meleganza</a></p>
<p>Binance Feed Page: <a href="https://www.binance.com/en/feed/profile/212703589" rel="noopener noreferrer nofollow">https://www.binance.com/en/feed/profile/212703589</a></p>
<p>Instagram: <a href="https://www.instagram.com/melega.finance/" rel="noopener noreferrer nofollow">https://www.instagram.com/melega.finance/</a></p>
<p>YouTube:<a href="https://www.youtube.com/channel/UC_kjHoXOkPSSB4HeHNZMq-Q" rel="noopener noreferrer nofollow"> Melega Finance Official</a></p>

Crypto Weekly Recap: EU Bans Anon Crypto Transactions; SEC to Classify Ether as Security; Silvergate Bank Sued; SEC Delays Ether ETFs; and More (March 17–23, 2024)

Crypto Weekly Recap: EU Bans Anon Crypto Transactions; SEC to Classify Ether as Security; Silvergate Bank Sued; SEC Delays Ether ETFs; and More (March 17–23, 2024)

Table of Contents

Melega Labs

Other articles published on Mar 25, 2024

Fezoo presale enters stage one, Ethereum, Solana holders participate

Ripple Takes Next Step in Legal Battle with SEC

GT Protocol Joins ChainGPT's $1,000,000 Grant Program as Awardee

Polygon zkEVM Suffered a 10 Hours Outage

Last Call for $GFOX Presale; The Next 500X Meme Coin Sensation

Kevin Hart’s NFT Investment Plummets as Market Dips

Join our free newsletter for daily crypto updates!