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It's unreal! Making money from intelligence? 🕐 A project that is developing potentially the most useful GameFi app ever has appeared online! The team revealed some details on social media. 🚀 Using a unique approach and their own vision on the possibility of using new technologies, the team is building a project that will allow to earn money on solving familiar puzzles and tasks. 🧠 Such an algorithm is called «Proof of Brains». It means that only intelligence can determine the level of income: the smarter you are, the more you can earn. 💸 There will be no donation systems or other purchases for money in the app: only brains, only hardcore. This is really inspiring and demonstrates that blockchain can be used even for good causes. ⏰ Judging by the timer on the website, the release will be this month, but social media keeps hinting at something, maybe we can see the app sooner. You can follow the official Telegram channel for all announcements: 🕑 BrainsCoin Subscribe, use Brain and Gain!

🚀 South Korean Crypto Exchanges Take a Deep Dive: 1,300 Tokens Under Review! 💡 In a bid to safeguard investors, South Korean crypto exchanges are teaming up with the Digital Asset Exchange Alliance (DAXA) to introduce comprehensive guidelines for evaluating listed cryptocurrencies. 👌 Mark your calendars for July 19, as this move coincides with the launch of South Korea's first-ever crypto investor protection framework. 🔴 Developed by 20 exchanges, these self-regulatory standards will subject a whopping 1,333 tokens to a thorough re-examination over the next six months. 🔍 But don't fret just yet! DAXA is optimistic about avoiding mass delistings, citing the industry's existing adherence to similar rules. 📝 The new guidelines emphasize both formal and qualitative requirements, covering everything from issuer credibility and investor safeguards to security and compliance. 🌐 To ensure fairness, exchanges must establish independent decision-making bodies for token listings, with all major decisions documented and preserved for 15 years. ➡️ This move carries weight on the global stage, given South Korea's prominent position in the crypto market. Just ask Kaiko – they'll tell you that the South Korean Won ruled Q1 2024 as the most-used fiat currency for crypto trading!

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🔒 Coinbase Takes Legal Action Against SEC and FDIC Over FOIA Request 💼 Coinbase, the popular cryptocurrency exchange, is not backing down in its ongoing battle with regulatory agencies. In a bold move, it has filed lawsuits against both the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) for allegedly obstructing its access to government records. 📌 The legal documents name History Associates, a records management company hired by Coinbase, as the plaintiff. This action stems from Coinbase's attempt to obtain federal records related to the SEC's classification of Ethereum in July 2023 using the Freedom of Information Act (FOIA). 🚫 Despite multiple attempts, the SEC denied Coinbase's request, claiming that the requested documents were either missing or unidentifiable. This prompted History Associates to appeal, only to face another roadblock from the SEC, which cited "protection" as the reason for withholding the records. 🟢 Interestingly, Coinbase's legal complaint also mentions seeking "pause letters" from the FDIC. These letters would have urged banks offering crypto services to halt their digital asset activities temporarily. ✅ The lawsuit doesn't exist in isolation; it adds to an already turbulent relationship between Coinbase and the SEC. The exchange previously sued the regulatory agency in 2022 for clearer regulations and is now facing its own lawsuit from the SEC for alleged securities law violations. 🗣 Paul Grewal, Coinbase's Chief Legal Officer, didn't mince words on social media platform X when he criticized what he called the SEC's "unlawful" approach to regulating cryptocurrencies. He accused financial regulators of attempting to stifle innovation and create uncertainty within the industry. ❗️ As of now, there has been no public response from the SEC regarding these latest legal actions by Coinbase. The battle between the crypto exchange and the regulatory watchdog continues, leaving the future of digital asset businesses in a state of uncertainty.

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🔥 Delio CEO Confesses: Investor Deposits Not 'Principal Protected' Amid $181M Collapse 💥 In a stunning revelation, Delio's CEO Jeong Sang-ho admitted during his second criminal trial that the investors' deposits were never "principal protected." This bombshell has sent shockwaves through the South Korean crypto community. 💣 The trial focused on the $180 million embezzlement allegations against Delio, with investors accusing the company of guaranteeing their principal. However, Jeong vehemently denied this, stating that Delio always operated within the guidelines set by the Financial Intelligence Unit. 📉 The controversy surrounding Delio's principal guarantee has left investors fuming. They had been lured in by promises of 10% annual returns on their cryptocurrency deposits. But when Delio abruptly halted its services without warning, suspicions of fraud and embezzlement arose. 🔍 As the prosecution grilled Jeong, he stood firm, declaring, "We never made any promises about guaranteeing the principal." He emphasized that Delio had diligently followed regulatory protocols since becoming a registered virtual asset business operator. ‼️ The courtroom drama escalated as creditors challenged Jeong's claims, questioning why their deposits were treated as investments. They argued that protecting the principal was a basic duty owed to them. 🔔 Jeong's lawyer attempted to clarify matters, explaining that the principal guarantee only applied to specific incidents like hacking. They dismissed the prosecution's and creditors' allegations as "factually incorrect," pointing out that operational issues accounted for just a fraction of Delio's assets. ➡️ With emotions running high, creditors accused Jeong of deception and demanded answers about how their hard-earned funds ended up being treated as mere investments.

🔒 Man Behind Bars: Crypto Fraud Lands Australian in Jail for 2 Years 🚨 An Australian man has been handed a two-year prison sentence for his involvement in cyber-enabled identity fraud. His crime? Creating phony online cryptocurrency accounts using counterfeit documents. 📣 On June 21, the Australian Federal Police (AFP) announced that the 31-year-old Aussie had been sentenced by the Melbourne County Court. 🔍 It all started when a victim from New South Wales reported an unauthorized bank account creation to Report Cyber, a Commonwealth Government site dedicated to tackling cybercrime. 📸 Digging deeper, the AFP discovered that the culprit had been using fake driver's licenses, complete with innocent victims' details and his own photo, to set up shop on not one, but two crypto exchanges. 💻 This arrest is just one piece of the puzzle in a much larger operation. Dubbed "Operation Stonefish," it's part of an international crackdown on cybercrime networks that have been wreaking havoc worldwide. 💰 The investigation began in August 2022, following leads from a UK probe into a website peddling tools for fraudsters. This shady online marketplace offered services like robo-calling and PIN spoofing for as little as $25. 🌐 Australia emerged as a hotbed for these illicit activities, prompting collaboration between authorities across borders. In fact, this joint effort led to the arrest of two more individuals involved in the same scheme. 🔒 AFP Constable Josh Simpson has sounded the alarm on the rise of "Cybercrime-as-a-service." With criminal tools just a few clicks away, it's crucial that those involved in cryptocurrency stay vigilant and educated about potential scams.

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🔒 Binance Slapped with $2.25M Fine in India for AML Slip-ups 💰 India's FIU has come down hard on Binance, the world's top crypto exchange, with a record-breaking penalty of 188.2 million rupees ($2.25 million). The reason? AML non-compliance – a serious offense in the eyes of Indian regulators. 📝 Indian law requires virtual asset service providers (yes, that includes crypto exchanges) to register with the FIU and play by its AML rules. Binance's failure to do so has cost them dearly, and they're keeping mum about it for now. 📌 After receiving a stern show-cause notice, Binance scrambled to get on the right side of the law by registering with the FIU in May. But it seems like that wasn't enough to escape the regulator's watchful eye. 🌍 This isn't Binance's first dance with regulatory trouble. They've been hit with fines in Canada and even had their former CEO facing jail time in the US. It's clear that AML vigilance is a global priority.

🚀 BIS Expands Reach with Toronto Innovation Hub, Boosting Financial Tech in the Americas 🤝 The Bank for International Settlements (BIS) has set its sights on Canada, launching the Toronto Innovation Hub in collaboration with the Bank of Canada. This move marks a significant step forward for financial innovation in North America and beyond. 💡 Led by Miguel Diaz, the Toronto hub will be at the forefront of exploring cutting-edge technologies to enhance financial market infrastructures. With a focus on inclusivity and efficiency, this initiative aims to shape the future of finance in Canada, Latin America, and the Caribbean. 🌐 But that's not all! The BIS Innovation Hub has big plans on its agenda. It will also delve into suptech solutions for regulatory purposes and spearhead advancements in open finance concepts. In short, it's all about embracing the digital revolution and making finance work better for everyone. 🗣 Agustín Carstens, General Manager of the BIS, couldn't contain his excitement about this new chapter: "The Toronto Innovation Centre is a proud moment for us. Together with our partners in the region, we're building a more modern and inclusive financial system." 🌍 The BIS has been busy expanding its network of innovation hubs worldwide since 2019. By fostering collaboration among central banks, it's creating a global community of experts dedicated to staying ahead of the fintech curve. With hubs already established in Switzerland and Europe, adding Toronto to the mix is a testament to Canada's growing importance in this space.

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🔍 Sen. Durbin Raises Concerns Over CFTC's Crypto Regulatory Capacity Post-FIT21 🚨 Regulatory Red Flags for Crypto Sector Growth? Senator Dick Durbin of Illinois didn't hold back during a recent Senate Appropriations subcommittee hearing. With the passage of the Financial Innovation and Technology for the 21st Century Act (FIT21), which expands the CFTC's jurisdiction over "digital commodities," Durbin questioned the agency's readiness to tackle the fast-paced world of crypto. ❓ "Can CFTC Keep Up?" Asks Durbin Addressing CFTC Chair Rostin Behnam and SEC Chair Gary Gensler, Durbin expressed doubts about the CFTC's ability to effectively regulate this ever-evolving industry. He challenged Behnam, asking if they could truly keep pace with this "capacious" market. 💼 More Power, More Resources Needed Behnam admitted that while the CFTC has taken action against crypto entities in the past, expanding their regulatory reach would require a beefed-up budget. He emphasized the need for additional resources to effectively oversee these markets. ⭐️ Different Markets, Different Rules Gensler, drawing on his experience as former CFTC Chair, highlighted the disparities between traditional derivatives markets and the unique challenges posed by cryptocurrencies. It's not a one-size-fits-all approach when it comes to regulation. 🔖 FIT21: A Balancing Act? The FIT21 bill aims to clarify regulatory responsibilities between the CFTC and SEC, but not everyone is convinced it strikes the right balance. Ranking Democrat Maxine Waters has concerns that stretching the CFTC too thin could weaken its enforcement capabilities. ⚖️ Regulatory Certainty or Offshore Exodus? While some argue that regulatory uncertainty drives crypto exchanges away from US shores, Gensler fired back, suggesting that compliance evasion is the real issue. The debate continues on how to strike the right balance between oversight and innovation in this rapidly expanding sector.

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Today Forta expands its reach to a 10th blockchain, adding Base as a supported network! 🌐 💼 Backed by Coinbase Ventures, a16z, Blockchain Capital, OpenZeppelin, and many others. 🔒Trusted by projects like Lido, Compound, MakerDAO, Metamask, Phantom and others. Forta is the leading Security Project with the FORT token as the backbone of a large decentralized network of nodes and AI-powered bots designed to analyze ALL transactions on the most important blockchains to detect and prevent attacks, scams, and exploits. For more info: 📱 Twitter 🌐 Website 📈 FORT Token

🔒 Hackers Strike Again: OKX Users Fall Victim to SIM Swap Attack 💸 In yet another blow to the cryptocurrency community, two OKX users have been left reeling after falling prey to a SIM swap hack. On June 9, an undisclosed sum was stolen in a cunning move that exploited a deceptive SMS notification, seemingly from the exchange itself. 📌 This incident comes hot on the heels of last week's deepfake debacle, where cybercriminals employed AI videos to outsmart OKX's security measures. It seems that these hackers are becoming increasingly audacious and tech-savvy. 📲 The founder of blockchain security firm SlowMist, Yu Xian, shed light on the matter, pointing out that this theft was no ordinary breach. It was a meticulously planned SMS attack, with the fraudsters masquerading as Hong Kong-based entities to dupe their victims into generating new API keys – complete with withdrawal and trading permissions. 🟢 Interestingly, Xian also drew attention to the uncanny resemblance between this incident and the previous deepfake ploy. Could it be that we're dealing with the same group of cunning culprits? 🔍 As investigations continue, OKX has responded swiftly with an official statement promising a thorough probe into the matter. "We take this situation very seriously," they declared, vowing to assume responsibility if any lapses on their part are uncovered. ⏳ The details surrounding this latest SIM swap attack remain shrouded in mystery for now. However, members of the crypto community are speculating that this could indeed be another case of identity theft through SIM swapping – a technique where hackers manipulate mobile carriers to gain control over victims' phone numbers.