The biggest news in the cryptoverse for Oct. 18 includes Japan seeking to amend KYC rules for cryptocurrencies, Binance CEO Changpeng Zhao’s post about the company’s recent dealings with a Reuters reporter, and the Texas investigation into FTX US and Sam Bankman-Fried for allegedly offering securities.

Japan Seeks To Amend Crypto KYC Rules

The Japanese government said it has passed six foreign exchange laws that will make crypto exchanges compliant to combat money laundering in the region.

Once the laws are enforced, cryptocurrency exchanges will be required to put their customers through strict KYC processes to confirm their identities.

Quant rises over $200 after rising 100% in 30 days

Over the past 30 days, Quant Network’s QNT token has emerged as an outlier in a bear market after its value surged over 100% to trade above $216.

The growing interest in the network is closely linked to the launch of its tokenization mechanism “tokenize”which allows users to create interoperable QRC20 and non-fungible tokens.

Hoskinson Says Banks Are Trading Crypto With Their Stocks After Kanye West and JP Morgan Fallout

Popular American rapper Kanye West cut ties with JP Morgan after the bank asked him to withdraw his assets worth $140 million. In response to the unfair treatment, the rapper wore a Satoshi Nakamoto hat to show his support for the bitcoin revolution.

Cardano founder Charles Hoskinson said that JP Morgan’s mistreatment of Kanye West is drawing more marketing attention to the crypto space.

Binance’s CZ Criticizes Reuters Reporter For Trying To Report On His Children

A Reuters reporter had contacted Binance with questions aimed at revealing details about CZ’s sons.

The Binance founder, who seeks to protect the identity of his children, refused to respond to such queries, calling it “unprincipled and intolerable.”

Bitcoin Association Files Criminal Charges Against Miners Mining Empty Blocks

A miner on the BSV blockchain has been accused of allegedly producing empty blocks and launching a coordinated Distributed Denial of Service (DDoS) attack on the network.

The Bitcoin Association has moved to take legal action against the miner and freeze his block rewards.

Texas is investigating FTX US, Sam Bankman-Fried for unregistered securities offerings

The Texas State Securities Board (TSSB) has launched an investigation against FTX.US and Sam Bankman-Fried for allegedly offering unregistered securities.

The regulator has urged the relevant authorities to stop FTX.US from buying Voyager’s assets for violating securities law.

Australian Regulator Suspends Holon Investments Bitcoin, Ethereum and Filecoin Funds

Holon Investment has filed an application with the Australian Securities and Investments Commission (ASIC) to offer Bitcoin, Ethereum, and Filecoin crypto funds to retail investors.

ASIC said Holon’s request was vague as it failed to capture the risk profile of its target market. As a result, Holon has been ordered to stop offering its crypto funds for the next 21 days, while it reviews the filing it made.

North Korea’s Lazarus Group Targets Japanese Crypto Firms

According to the Japan Police Agency, North Korea’s Lazarus Group has been identified as the perpetrator of several cyberattacks launched against Japanese crypto exchanges.

The hacking group reportedly stole around $45 million (¥6.7 billion) from crypto exchange Zaif in 2018 and another $24 million (¥3.5 billion) from Bitcoin Japan in 2019.

Featured Research

On-chain metrics show peak performance of Ethereum network after merger

A month after the highly anticipated Ethereum merger, on-chain data reveals that the network is running efficiently.

CryptoSlate analysis shows that after the merger, Ethereum’s participation rate increased above the average level of 99%.

More insights into the ETH 2.0 total value staked metrics confirmed that there is growing conviction among ETH holders. At press time, the total amount of ETH staked has risen to an all-time high of 14 million.

News from around the Cryptoverse

US regulators investigate Three Arrows Capital

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have launched an investigation against bankrupt crypto hedge fund Three Arrows Capital.

Regulators said 3AC failed to register with the relevant US agencies and allegedly misled investors by inflating its balance sheet.

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Bitcoin (BTC) rose 1.11% to trade at $19,519 in the last 24 hours, while Ethereum (ETH) posted a 1.46% increase to trade at $1,328.

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This post Binance’s CZ lashes out at Reuters reporter; Ethereum network at maximum performance

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