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BTC Faucets and Cryptocurrency Regulations: What You Need to Know

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BTC faucets have been around for a while, allowing users to earn bitcoin rewards through micro-earnings. 

As interest in Bitcoin and other cryptocurrencies grows, it becomes increasingly important to understand how these faucets work within the larger framework of cryptocurrency legislation. 

This post provides an overview of Bitcoin faucets and the regulatory landscape that surrounds them.

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From Data to Discovery: BNB Chain’s Fascinating Insights

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Cryptocurrency enthusiasts and investors are constantly seeking new ways to understand and engage with blockchain networks. One such blockchain network that has garnered significant attention is BNB Chain. This article delves into the fascinating insights that BNB Chain explorer offers, providing you with a comprehensive view of its capabilities, utility, and the broader blockchain ecosystem it operates within.

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SEC “X” Account Hacked Briefly Before Bitcoin EFT Approval

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the staff of the Ridgewood blog

Ridgewood NJ, The U.S. Securities and Exchange Commission (SEC) confirmed that its X account, responsible for deciding on the approval of bitcoin ETFs, experienced a compromise, as reported to CoinDesk by Nikhilesh De and Krisztian Sandor. The SEC clarified that it had not granted approval for bitcoin ETF applications, contradicting a brief statement posted on its compromised X (formerly Twitter) account.

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Entering the World of Cryptocurrency: Here’s How to Prepare

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Are you ready to dive into the exciting world of cryptocurrency? As digital currency continues to gain popularity, now is the perfect time to learn about this ever-evolving market. Whether you’re a curious beginner or an experienced trader, there’s no denying the potential of cryptocurrencies like Bitcoin and Ethereum. But before you jump in headfirst, it’s important to understand the basics and have a solid strategy in place.

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United States Seized and Files Forfeiture Action to Recover over $54 Million of Cryptocurrency From New Jersey Internet Drug Ring

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the staff of the Ridgewood blog

Lake Hopatcong NJ,  the U.S. Attorney’s Office filed a civil forfeiture action today to recover $54 million of cryptocurrency that it previously seized and is traceable to the proceeds of an illegal narcotics distribution scheme operating in and around New Jersey, U.S. Attorney Philip R. Sellinger announced.

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Cryptocurrency Scammer and Democrat Megadonor Sam Bankman-Fried Guilty on All Seven Counts

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the staff of the Ridgewood blog

Ridgewood NJ, jury finds disgraced cryptocurrency scammer and Democrat megadonor Sam Bankman-Fried guilty of fraud-related charges on Thursday.

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MeWe Doubles-down on its Privacy-first Values Integrating to a Groundbreaking Decentralized Blockchain Technology

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the staff of the Ridgewood blog

Ridgewood NJ, in September of 2022 MeWe announced plans to become the world’s largest decentralized social media platform. MeWe, a 20-million-user global social network, is doubling down on its values of privacy and putting control in the hands of its users by integrating groundbreaking decentralized technology.

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Congress Puts SEC Chair Gary Gensler Under the Gun

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the staff of the Ridgewood blog

Ridgewood NJ, SEC Chair Gary Gensler faced criticism from lawmakers regarding his crypto regulation approach during a House hearing. He was questioned about the classification of bitcoin, how that compared to other assets like Pokemon cards, and the approval of bitcoin ETFs. Lawmakers also expressed concerns over Gensler’s transparency with Congress, especially regarding interactions with crypto exchange FTX.

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How Blockchain Technology is Transforming the Betting Industry

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Blockchain technology is gaining popularity in every industry. This has significantly changed how companies interact and run in numerous ways, and the betting industry tops the list regarding this game-changing technology. The issues that have existed for years are taking on new forms as a result of the revolutionary force. Bettors can now enjoy more anonymity while trying their luck at crypto betting sites. Here is how blockchain’s arrival has favored the betting industry.

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Federal Judge Rules in Favor of Grayscale against the U.S. Securities and Exchange Commission

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the staff of the Ridgewood blog

Ridgewood NJ, a US federal court ruled that the SEC acted unfairly in denying Grayscale’s request to turn its Grayscale Bitcoin Trust product into an ETF. The long-awaited decision gave a big boost to prices across the board in the crypto market and even to crypto-related public equities like Coinbase. While the ruling was favorable, it still doesn’t guarantee immediate ETF approvals. Not only does this help Grayscale’s case as it tries to launch an ETF, but it also likely increases the chances that the spot BTF applications from TradFi giants like Blackrock and Fidelity will go through as well.

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NJ Corrections Officer Charged with Cryptocurrency Fraud, Targeting First Responders

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the staff of the Ridgewood blog

Newark NJ, a former New Jersey corrections officer was arrested today for orchestrating two different fraud schemes, including a cryptocurrency scheme that resulted in losses of more than $600,000, U.S. Attorney Philip R. Sellinger announced.

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“This is a big deal”, Ripple Labs notches landmark win in SEC case over XRP

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the staff of the Ridgewood blog

Ridgewood NJ, in a significant breakthrough, Ripple won a longstanding dispute with the SEC, with a US judge ruling that Ripple didn’t breach federal securities law by trading its XRP token on public platforms. However, the SEC claimed a small victory, as Ripple’s XRP sales to institutional investors were considered unregistered security sales. Ripple’s CEO deemed the ruling to be a considerable win for the broader industry. The ruling sparked a wave of green in the crypto market, with crypto prices rocketing up.

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NJ Bureau of Securities Issues Order to Halt Sales of Unregistered Interest-Bearing Crypto Accounts

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the staff of the Ridgewood blog

Trenton NJ, Attorney General Matthew J. Platkin and the Division of Consumer Affairs today announced action taken by the Bureau of Securities to stop Abra, a California-based crypto company, and its associated entities from violating New Jersey’s Uniform Securities Law in connection with the sale of interest-bearing crypto accounts that have raised over $116 million nationwide, including from investors with nearly 300 New Jersey-based accounts.

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SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency

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Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program

the staff of the Ridgewood blog

Washington D.C., June 6, 2023 —The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service program.

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SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao

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Charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities.

the staff of the Ridgewood blog

Washington D.C., June 5, 2023 —The Securities and Exchange Commission today charged Binance Holdings Ltd. (“Binance”), which operates the largest crypto asset trading platform in the world, Binance.com; U.S.-based affiliate, BAM Trading Services Inc. (“BAM Trading”), which, together with Binance, operates the crypto asset trading platform, Binance.US; and their founder, Changpeng Zhao, with a variety of securities law violations.

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