Episode Details

06th March- Crypto & Coffee at 8
🔴BRICS nations Blockchain payment system 🚨SEC vs Binance USA, ShapeShift Settles SEC Charges 💡Coachella to release NFT 

🔴 Kremlin announces creation of blockchain-based payment system in BRICS
- The BRICS nations, comprising Brazil, Russia, India, China, and South Africa, are collaborating on a blockchain-based payment system to reduce reliance on the US dollar. The system, as per Kremlin aide Yury Ushakov, aims to facilitate cost-effective and politically neutral payments for governments and individuals. By promoting settlements in national currencies and enhancing correspondent banking networks, the initiative seeks to bolster the role of BRICS countries in the global financial system and reduce dependence on the dollar for international transactions. Info via TASS here https://lnkd.in/dJEaszhC

- Details of the payment system, such as whether BRICS will develop its blockchain or use an existing platform, were not disclosed by the Kremlin.

- U.S. Securities and Exchange Commission 🆚 Binance.US
Binance.US, is facing scrutiny from the U.S. Securities and Exchange Commission (SEC) over its handling of customer assets and other critical aspects of an ongoing investigation. The SEC claims that Binance.US, operated by BAM Trading Services, has failed to provide adequate responses to requests for information regarding customer asset custody. In a joint status report filed on March 5, the SEC requested court intervention to expedite the discovery process. Info United States District Court for the Southern District of California here https://lnkd.in/dA5JZsv7

- Central to the SEC’s investigation is whether employees of the non-U.S. arm of Binance maintained access to Binance.US customer assets. The SEC claimed Binance.US has failed to prove that it didn’t have access to private keys or other forms of access to customer assets.

🔵 ShapeShift 🆚 SEC Settlement
❗ In a filing on Tuesday, the SEC indicated acceptance of a settlement offer from ShapeShift, including a $275,000 fine and an agreement to comply with the Securities Exchange Act moving forward. ShapeShift had offered approximately 79 crypto assets to customers, including those considered investment contracts, though specific digital assets were not named in the filing. Filings here https://lnkd.in/dpk__yyA

🚨Coachella and OpenSea launch NFTs with music festival utility and keepsakes. The NFTs can be turned into real-life VIP experiences, exclusive merchandise and digital collectables. They will have three unique NFT collections serving as all-access passes to some of the festival’s most exclusive on-site experiences and merchandise.

🟠 Two UAE news (See slides)
⚡ Nexo Secures Initial Approval to Offer Digital Asset Services in