🚀 Binance to Support Viction (VIC) Network Upgrade and Hard Fork
#Binance #Viction #VIC #networkupgrade #hardfork #tokensupply #cryptocurrency #trading #riskwarning
Binance has announced its support for the upcoming Viction (VIC) network upgrade and hard fork. To ensure a seamless user experience, Binance will temporarily suspend deposits and withdrawals of VIC tokens starting from 07:00 UTC on October 29, 2024.Key Details of the Upgrade:Upgrade Timing: The upgrade and hard fork will occur at block height 86,158,494, expected around 08:00 UTC on October 29, 2024.Tokenomics Changes:Total Supply Increase: The total supply of VIC tokens will rise from 100,000,000 to 210,000,000.Circulating Supply Boost: An additional 20,000,000 tokens will be added to the circulating supply immediately following the upgrade.Risk Warning for Traders: Before trading VIC, users will see a risk warning banner and pop-up notification.#Binance #Viction #VIC #networkupgrade #hardfork #tokensupply #cryptocurrency #trading #riskwarning
🚀 Chinese Associations Warn Against Illegal Activities Involving Virtual Currencies
#ChinaInternetFinanceAssociation #NFTs #VirtualCurrencies #RiskWarning #IllegalActivities #FinancialRisks #TokenIssuance #Securities #PreciousMetals #ICO
According to Foresight News, the China Internet Finance Association, along with six other associations, issued a joint risk warning today regarding illegal activities related to virtual currencies. Previously, on April 13, 2022, the China Internet Finance Association had released an initiative to prevent financial risks associated with NFTs, emphasizing the need to curb the financialization and securitization of NFTs and to strictly guard against illegal financial activities.
The associations urged their member units not to invest directly or indirectly in NFTs and to refrain from providing financing support for NFT investments. They also advised against using methods such as fractional ownership or mass creation to undermine the non-fungible characteristics of NFTs, which could lead to disguised token issuance financing (ICO). Furthermore, they cautioned against including financial assets such as securities, insurance, credit, or precious metals in the underlying goods of NFTs, which could result in the issuance and trading of financial products in disguise.#ChinaInternetFinanceAssociation #NFTs #VirtualCurrencies #RiskWarning #IllegalActivities #FinancialRisks #TokenIssuance #Securities #PreciousMetals #ICO
🚀 China's Financial Associations Issue Warning Against Virtual Currency and RWA Token Activities
#China #financialassociations #virtualcurrency #RWA #token #riskwarning #regulation #HongKong #consultationdrop #stockdecline #RDA
According to ChainCatcher, seven financial industry associations in China have jointly issued a risk warning, explicitly prohibiting domestic participation in virtual currency and Real World Asset (RWA) token issuance and trading activities. Following this regulatory stance, mainland companies have seen a significant cooling in their RWA business ventures in Hong Kong. Industry insiders report a dramatic drop of over 90% in consultation inquiries, with many ongoing projects being asked to pause. Consequently, related concept stocks have experienced a decline, with companies like Langxin Group and GCL Energy Technology seeing their stock values halved from recent highs. In response, some enterprises are now exploring Real Data Asset (RDA) as an alternative direction.#China #financialassociations #virtualcurrency #RWA #token #riskwarning #regulation #HongKong #consultationdrop #stockdecline #RDA
🚀 Jiangsu Securities Bureau Warns Against Hong Kong 'Pseudo-Exchanges'
#JiangsuSecuritiesBureau #HongKongPseudoExchanges #RiskWarning #IllegalFundraising #StockCodes #EquityMarketing #FakeCeremonies
The Jiangsu Securities Regulatory Bureau has issued a risk warning regarding 'pseudo-exchanges' in Hong Kong that offer listing and bell-ringing services in exchange for payment. According to NS3.AI, the bureau highlighted that certain intermediaries are providing fake stock codes, website promotions, and fabricated ceremonies. These activities are being used by some companies to market equity and 'original shares' to the public, raising concerns about illegal fundraising practices.#JiangsuSecuritiesBureau #HongKongPseudoExchanges #RiskWarning #IllegalFundraising #StockCodes #EquityMarketing #FakeCeremonies