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Finding Life Purpose in Turning Vision Into Reality | Maryland Smith – Robert H. Smith School of Business

This Q&A has been edited and condensed.

What is your job title and where do you work?

I am Principal Product Manager at Opendoor, which buys and sells homes and makes instant cash offers online. I work at the headquarters in San Francisco.

What does a day in your role look like and how do you approach new projects?

On a day-to-day basis, I work with a diverse group of stakeholders to execute the product vision Ive developed to further the companys growth. My responsibilities include identifying new opportunities aimed at driving profitability and growth, making sure stakeholders are aligned on product vision, working with design and engineering teams to plan and deliver initiatives, partnering with analytics/data science teams to measure impact and presenting the projects outcomes and long-term mission to leadership.

I approach new projects by first understanding the problem space, customer needs, and why the project matters to Opendoor. Once I build a good understanding, I then start writing product memos, plan the kick-off of the project and perform the pre-mortems.

Is there something about your professional journey that people would find surprising?

I have been a product manager since day one of my career and have been building products for over a decade. Building consumer products in different industries has left me with a unique edge that allows me to quickly connect the dots and ship products quickly. I have always found new ways to improve myself and have been open to feedback. Learning and trying new technologies (for example, currently working on an AI project leveraging GPT3) has enabled me to keep improving at my craft.

Tell us about your path from graduation to your current job.

Immediately after graduating from Smith, I joined Home Depot as a product manager and shipped highly impactful products that brought in record revenue and that got me promoted to senior product manager. In that role, I managed two product areas. One of them was risk and fraud. I gained vast expertise in product strategy and combating bad actors in the digital world. To gain more knowledge in my field, I decided to take a job as payment and risk product manager at Eventbrite, where I was responsible for creating products that reduced risk and fraud-related losses and along the way I started building monetization products. After success at Eventbrite, I was offered a job at Opendoor. I accepted because it was a chance to leverage my years of product management experience with solving complex problems, enabling me to make a difference for millions of homebuyers and sellers in the U.S.

Are you where you thought you would be in your career? What are your goals?

Yes, Im where I thought I would be. At this stage of my career, I wanted to directly impact critical outcomes for a business and be at the forefront of solving complex problems that sit at the intersection of technology, data science and user experience. My goal is to create solutions and products that make a meaningful difference in peoples lives at Opendoor and that is what we are doing.

What Smith resources or relationships did you leverage for your career?

The Smith School curriculum is very well designed and that enriched my learning experience. I was able to build a deep connection with some of the faculty who mentored me and were always open to discussing ideas. These relationships helped me secure funding for startups I co-founded, helped me hire students to assist with research projects and provided recommendations for career opportunities.

How has your Smith education helped with your career? Were there specific classes, experiential projects, team projects or internships that have been especially helpful to you?

Ive seen great value in applying concepts in the real world that I learned from my coursework at Smith. At different times in my career, Ive gone back to the slides taught by Professor Siva Viswanathan when I needed to brush up on theories and fundamentals applicable to driving profitability and growth to consumer and marketplace technology companies. Also, getting to run two startups while I was at Smith set me off on a successful path.

Why did you decide to get a business degree and why did you choose Smith?

I decided to earn a Master of Science in Information Systems degree from Smith because the coursework sharpened my skills in digital strategy, data science, and business strategy. These are all critical for my career.

What about your personal journey has led to your success?

I have always been a curious person who liked helping people. As a kid, I used to love the Captain Planet character in a cartoon I watched (Captain Planet and the Planeteers). He was responsible for saving the world. I have always wanted to use my skills to make the lives of people around me better, whether it was helping someone with their studies, career coaching or creating products that make a meaningful difference in peoples lives.

Is there anything else you would like to add?

Everyone has something they can bring to the table due to the unique experiences they had growing up. I would say from my experience and echoing the University of Marylands brand tagline Fearlessly Forward, one should try to discover their Ikigai (life purpose) and spend the rest of their lives perfecting that which will make this world a little better for their being in it.

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New podcast explores whether data can solve big problems – MIT Sloan News

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From sports betting to policing to the dark side of the data economy, data and society intersect at many points. The new podcast Data Nation, from the MIT Institute for Data, Systems, and Society, takes a closer look at these intersections, including whether data can be used to solve societal problems and answer difficult questions.

Hosted by Liberty Vittert, SB 10, a data science professor at Washington University in St. Louis, and MIT professor Munther Dahleh, the director of the Institute for Data, Systems, and Society, the podcast examines a wide range of issues, from misinformation to credit scores. Season 2 launched in March with a look at how brain data can shed light on sleep and anesthesia.

Guests include MIT professors, journalists, and experts in the field. Heres a look at some highlights from Season 1.

The digital economy is fueled by data, which companies can use to reach users more effectively and develop products.

A vast amount of that data flows to platforms like Facebook for free. These platforms dont buy or sell customer data; users willingly share it with them, thus allowing the companies to run more-targeted ads.

While those big companies deserve scrutiny, people should also look at more obscure data brokers companies that exclusively buy and sell consumer information, according to MIT Sloan professorDean Eckles.There [are]a lot of ways that data is flowing around, often involving the companies that you havent necessarily heard of, he said. This is happening a little bit more behind the scenes. Eckles contends that there should be more regulatory scrutiny for these data brokers, which often dont have a direct relationship with consumers.

People should be conscious of their data footprint and know the basics of how online advertising works, and maybe take some steps to preserve [their] privacy, he said, noting that actions like turning off app tracking and using encrypted messaging services work well.

The sports industry has been an early adopter of data and analytics, with teams and players using them to gain a competitive edge. With sports betting now legal in a majority of states, sports analytics can be used by people off the field, too.

Anette (Peko) Hosoi, a mechanical engineering professor at MIT who studies sports data and technology, said people placing bets on sports should consider the extent to which the outcome is skill-based, as the rules of some sports reward skill more than others. Hosois research has found that basketball and baseball are more skill-based compared with hockey and football.

Any activity that you do is going to have some elements of skill and some elements of luck, Hosoi said. Youre really asking, where does it sit on this spectrum? ... When youre betting on sports, having those statistical algorithms and having that statistical knowledge makes a difference.

Bettors should keep in mind the intended outcome when they decide how to place bets. For instance, if your aim is to have fun with your family, something relatively random, like football, would fit the bill. But if youre trying to make money, go for something more deterministic, like basketball, Hosoi said. People can make more informed bets by focusing on high-skill sports that generate a lot of data.

Opioid use is aleading cause of injury-related deaths in the U.S., and opioid-related deaths reached a record high in 2022.

Businesses can play a role in addressing this epidemic, according to MIT Sloan professorAndrew Lo.

Because opioids are addictive, theyve generated lots of revenue for companies a business incentive that ultimately caused the crisis, Lo said. In 2022, drug distributors and wholesalers finalized an opioid settlement that is now up to $32 billion a figure that only hints at how much money was generated in revenue during the years leading up to the crisis, he said.

The key now is incentivizing companies to develop nonaddictive pain medicines. Companies need to understand that they will be financially rewarded and earn goodwill if theyre able to do so, Lo said. If you do that at a large enough scale, the chances are youre going to hit one or two or three different really successful, really powerful drugs that can deal with both the crisis as well as with pain management, he said.

With massive amounts of historic and location-specific data available, police are able to analyze when and where various types of crime have taken place, for example, and allocate resources accordingly.

But there is reason to be wary of these approaches, said S. Craig Watkins, the Martin Luther King Jr. visiting professor at MIT, particularly among communities of color and many working-class or poor individuals

For the communities who bear the brunt of these systems, who are disproportionately profiled and surveilled as a result of these systems, theres just no possible way that they could see these technologies as a net benefit in any way, shape, form, or fashion, he said. Its going to require a strategic effort in terms of convincing them that these systems can lead to sort of a net benefit.

For positive impacts to come to fruition, there need to be clear procedures, policies, and practices for data-informed profiling and policing, Watkins said, and organizations should be intentional about their adoption and deployment of these systems. We cant assume that just by virtue of them existing and by virtue of us adopting and deploying them, they will generate these net benefits, he said.

Read next: Data literacy for leaders

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What Is the Role of Data Governance in Healthcare? – HealthTech Magazine

How Does Data Governance Impact Healthcare Organizations?

Data is omnipresent in healthcare organizations. The more accessible and reliable it is, the more likely you are to develop insights from it, says Jonathan Shannon, associate vice president of healthcare strategy at LexisNexis. On the other hand, he adds, your entire business suffers in various ways when data governance policies are poor.

Krishnan describes three telltale signs of poor governance:

Its one thing if a patient gets the same marketing materials twice, she says. (That can happen if, say, there are records for Sam Smith and Sam S. Smith at the same mailing address.) But I dont want my diagnosis to be wrong because physicians dont have access to all of my records.

More broadly, poor data governance in healthcare can have significant business implications. Shannon points to the referral process. There are multiple benefits to referring patients to in-network providers: Patients avoid the high cost of seeing physicians not covered by their insurance plan, and organizations keep patient defections to a minimum.

If provider directories are inaccurate and data from the Centers for Medicare and Medicaid Services indicates that 49 percent of them are then its that much harder to make in-network referrals, he says. Very important procedures may be sent up the road and out of the network because someone didnt know.

Finally, poor governance poses security and regulatory risks. The 21st Century CURES Act requires organizations to make data available to other healthcare stakeholders, including patients. This requires a delicate balance between security and availability, Shannon says.

Now, theres more pressure to make data more accessible, he says, primarily with open application programming interfaces. Without data governance, you cant support open access with APIs.

DISCOVER: How Community Medical Centers powers operations with data.

When it comes to addressing data governance, healthcare organizations tend to fall into one of three buckets, Krishnan says. Some are just getting started and need help putting a general framework in place. Others have a framework but also have many data silos; this is especially tricky when data is on-premises and in both public and private cloud environments.

Still others have made progress but worry about the implications of duplicate records within newly unified data sets, whether its difficulty with regulatory compliance or a lag time to get business-ready data to the teams that need it. These organizations want help to scale for new applications, Krishnan says. They want to be enterprise-ready and future-proof.

A common starting point is what Shannon refers to as a one-time cleanup of the organizations data repository.

By definition, data grows and changes over time. If your organization has been in business for decades, youve been accumulating data for decades, he says.

When technology upgrades are on the horizon, its both expensive and counterproductive to move millions of unnecessary records those that are duplicates, incomplete, from deceased patients, and so on. Through a combination of referential and probabilistic modeling methods, Shannon says a repository with data from 7 million patients could be trimmed to 1 million patient records. As a result, the repository is more accurate, less expensive to maintain, and well suited for use with next-generation applications for decision support, population health management, and predictive analytics and modeling.

For Money, addressing organizational culture is fundamental to improving data governance.

You cant buy data governance off the shelf, she says. It has to be understood from the highest level of the organization to the bottom. It should be invisible. No matter the organization, what youre doing is producing quality, usable, effective products, and data governance is a tool to make that happen.

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Dubai regulator demands Binance provide info on ownership, governance: Report – Cointelegraph

The Virtual Assets Regulatory Authority (VARA), the entity that oversees crypto activities in Dubai, has asked Binance to provide more information about its business requirements in its efforts to tighten regulatory guardrails in the emirate, Bloomberg reported.

Citing three anonymous sources, Bloomberg reported on April 5 thatthe regulator had asked Binance to submit more information about the exchanges ownership structure, governance and auditing processes. The people close to the matter said VARA has requested the same details from global crypto players looking to be licensed in Dubai.

VARA officials have also required Binance to provide similar information, on top of board procedures, at its global group level, with queries taking longer to address given the exchanges size and complexity, two of the sources said.

The increased scrutiny over virtual assets service providers (VASPs) in Dubai adds to Binances woes as it faces more pressure from regulators in the United States.

Last week, the United States Commodity Futures Trading Commissionfiled a lawsuit against Binance and its CEO, Changpeng Zhao, alleging that the exchange engaged in improper compliance procedures and trading.

Zhao has since rejected the claims, calling them an incomplete recitation of facts and saying that Binance does not trade for profit or manipulate the market.

Binance received a preparatory minimal viable product (MVP) license from VARA in September last year. The permit allows the platform to set up an office in the United Arab Emirates and provide digital asset exchange services to pre-qualified investors. However, the company cant yet offer locally regulated digital asset services in the emirate.

The largest crypto exchange by trading volume would need to submit the necessary requirements to VARA to upgrade to an operational MVP license, which would allow it to offer its services to qualified individual and institutional investors, before securing a full market product permit.

Related: Groceries to luxury cars: The state of crypto adoption in Dubai

Currently, only digital asset custodian Hex Trust has secured an operational MVP license from the Dubai regulator.

According to VARAs website, VASPs already providing their services must comply with their requirements before the end of June.

Magazine: Best and worst countries for crypto taxes Plus crypto tax tips

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Binance and Coinbases Market Share Slumped in Q1 As Regulators Targeted Crypto Giants: New Report – The Daily Hodl

Top crypto exchange Binance has seen its market share plunge in recent weeks amid regulatory issues in the United States, according to crypto data provider Kaiko.

Kaiko notes in a recent newsletter that Binance lost 16% of its market share in just the past two weeks.

The firm notes that the decline occurred in part due to the recent news that the Commodities Future Trading Commission (CFTC) charged the exchange, its CEO Changpeng Zhao, and the companys former chief compliance officer Samuel Lim with a long list of regulatory violations.

However, Kaiko attributes the majority of the lost market share to Binance ending its no-fee trading promotion for 13 BTC spot trading pairs.

Binance lost 16% market share of spot volume in just two weeks after the CFTC lawsuit and end of zero-fee trading. But the trend is quite different when looking at derivatives volumes: Binance only lost about 2% of market share for perpetual futures trade volume. This suggests that the majority of market share was lost purely due to the end of zero-fee spot trading, rather than trepidations around a lawsuit.

The data provider notes that Binance remains the largest exchange in the world with 54% dominance over the global market.

Kaiko also reports that top US crypto exchange Coinbase lost a significant chunk of its domestic market share.

Even Coinbase, which has historically made very strong efforts with regulators, received a Wells Notice focused on its staking service while Kraken was forced to shut down its service earlier this year. Throughout Q1, Coinbases [US] market share dropped from a weekly average of 60% to just 49%.

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Binance to Temporarily Suspend Ethereum (ETH) Deposits on This Date – U.Today

Tomiwabold Olajide

Deposits and withdrawals on Ethereum network (ERC20) will be suspended on this date

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Top crypto exchange Binance has said it will temporarily suspend Ethereum (ETH) deposits and withdrawals for a few hours on April 6.

Binance says it will perform wallet maintenance for the Ethereum network (ERC20) on April 6 at 7:00 a.m. UTC. It says the maintenance will take about two hours. To that end, deposits and withdrawals on the Ethereum network (ERC20) will be suspended starting from April 6 at 6:55 a.m. (UTC).

However, the trading of tokens on the Ethereum network (ERC20) will not be affected during wallet maintenance. It will reopen deposits and withdrawals after the maintenance is complete but will not notify users with a further announcement.

In a separate announcement, Binance says it will support the Ethereum (ETH) network's Shapella upgrade.

Staked ETH withdrawals will be made possible by the Shanghai upgrade, also known as "Shapella," which completes Ethereum's entire transition to a proof-of-stake (PoS) network. The long-awaited Shanghai hard fork has an April 12 target date, according to Ethereum developers.

Binance offers the expected schedule of the Ethereum (ETH) network's Shapella upgrade as epoch 194,048; it is estimated to occur on April 12 at 10:27 p.m. (UTC).

Deposits and withdrawals for ETH, OP, ARB and ERC-20 tokens via the Ethereum (ETH), Optimism (OP) and Arbitrum (ARB) networks will be suspended approximately starting from April 12 at 10:20 p.m. (UTC).

In other improvements, Binance says it will be increasing the minimum unlock count of deposits on the Ethereum (ETH) network from the current 12 blocks to 64 blocks following the Shapella upgrade.

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Cardano: Crypto Community on Twitter Tells Binance.US That … – CryptoGlobe

The cryptocurrency community has voted on the smart contract platform Cardano ($ADA) seeing its logo on Twitters pages in a new poll headed by the U.S. arm of leading cryptocurrency exchange Binance.

In a poll that received over 26,000 votes from the cryptocurrency community, Binance.US asked its followers and the wider public which cryptocurrency the microblogging platform should change its logo to next, with the majority of respondents that chose one asset pointing to Cardano.

Most votes, 39.2%, went to the other category, and led to a diverse set of responses pointing to multiple digital assets. The single cryptocurrency with the most votes was Cardano at 34.6%, followed by Bitcoin at 21.6%, and Ethereum at 4.7%.

The poll comes shortly after Twitter changed its icon to the symbol of the popular meme-inspired cryptocurrency Dogecoin (DOGE) in a move that had been teased by its current CEO Elon Musk years ago. The price of DOGE has increased sharply as a result.

The icon change was platform-wide and is currently still visible to the social media giants estimated 360 million monthly active users, as well as other users visiting the platform. Shortly after making the change, Musk tweeted a meme implying the change isnt going to be brief.

As CryptoGlobe reported, the cryptocurrency community is expecting the price ofCardano to drop during the month of April, even as its adoption keeps on growing and whales accumulate the networks native token.

According to respondents on CoinMarketCaps cryptocurrency price estimates, on average, predictions pointed to ADA finishing the month of April trading at $0.37 per token, down around 7% from the tokens current price of around $0.3969.

The negative outlook comes even at a time in which Cardano is seeing asurge in buying activity from large investors, colloquially referred to as whales. These large token holders have added a total of 150 million tokens over the past month.

According to data shared by crypto analyst Ali Martinez from IntoTheBlock, a blockchain analytics platform, Cardano whales holding between 1 million and 10 million ADA have been on a buying spree, collecting over $57 million worth of the smart contract platforms native token in a few weeks.

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Half Billion Dogecoin Moved by Binance in Wake of Positive DOGE News – U.Today

Yuri Molchan

Binance has shoveled several hundred billion DOGE after coin's trading volume surged 671%

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According to a few recent tweets posted by the @DogeWhaleAlert, over the past 24 hours, the biggest crypto exchange by trading volume, Binance, has transferred more than 400 million DOGE among its internal wallets.

The two enormous transactions carried 301,667,311 DOGE and 100,906,386 DOGE evaluated at $29,677,728 and $9,927,069.

This was likely to do with redistributing funds between local wallets of the exchange. Overall, after yesterday's news about Elon Musk, Twitter and Dogecoin, the price of the latter surged by 30% within one hour and is now trading at the $0.01009 level, according to CoinMarketCap.

As the price surged, the meme coin's market cap increased by nearly 29%, hitting $13,972,987,874, and the trading volume of DOGE went up by 671%, reaching $5,125,163,854 in the last 24 hours.

Aside from Dogecoin itself, CoinGecko reports that all Doge-related meme coins are on the rise today, too.

As reported by U.Today earlier, on April 3, Twitters usual logo depicting a blue bird was changed for a Dogecoin logo. This pushed the price of the meme coin way up, adding more than 30% overall.

Still, the meme coin is now trading more than 86% below the all-time high of $0.7376 reached in May 2021 after Elon Musk shilled DOGE during his debut on Saturday Night Live.

Still, it seems that after the price surge, many whales began to sell, moving profits off the table. Today Whale Alert spotted transfers of 650 million and 300 million Dogecoin. The first one was made by the fifth largest DOGE holder as he likely moved his meme coins to be sold.

Prominent economist and trader Alex Kruger has tweeted that after the surge of Dogecoin, he believes things on the market are making way for "a massive dog run" that may happen later this year.

He suggested looking back at May 2021 (when Dogecoin hit its historic peak), and November 2021, a little after SHIB surged to an all-time high. His bets among meme tokens are SHIB and SOV.

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Price Predictions For Helium (HNT) and Binance (BNB) Is Reasonable, While Collateral Network (COLT) 3500% – Bitcoinist

While most cryptocurrencies are trying to convince investors, Helium (HNT), Binance (BNB) and Collateral Network (COLT) have taken the center stage. But investors are more convinced with the Collateral Network (COLT) presale growth projection of 3500% than any other cryptocurrency.

>>BUY COLT TOKENS NOW<<

Helium (HNT) has been one of the most talked-about cryptos in 2023. Helium (HNT) recently announced that it would fully migrate to Solana (SOL) by March 27th. Helium (HNT) was launched to build hotspots for connecting IoT devices. The Helium (HNT) hotspots help users connect to a larger internet network. Since the number of Internet of Things (IoT) gadgets has increased in recent times, the demand for Helium (HNT) is also expected to increase.

However, the price of Helium (HNT) has declined by 19% in the last week. On the monthly chart, Helium (HNT) has plummeted by 18%. Currently, Helium (HNT) is being traded at $1.35, which is 97.55% below its all-time high of $55.22.

>>BUY COLT TOKENS NOW<<

The Binance (BNB) arm, Binance.US, has received the courts approval to buy bankrupt crypto lender, Voyager. However, US Justice Dept. has appealed the decision that favors the Binance (BNB) expansion in the country.

Recently, a report by CryptoCompare revealed that the Binance (BNB) market share has continuously been increasing since the collapse of the FTX Exchange. At present, Binance (BNB) is ranked 4th by market capitalization. However, the price movement of Binance (BNB) has been downward for the past many weeks.

Consequently, the price of Binance (BNB) has fallen by 11% in the last 30 days. Currently, Binance (BNB) trades at $316.85, which is 54.14% below its all-time high of $690.93.

Collateral Network (COLT) is a decentralized crowdlending platform where real-world art and other tangible assets can be used as collateral to obtain a loan. This cross-chain network follows a hybrid infrastructure model that bridges the gap created by traditional financial institutions, including pawnbrokers.

Banks do not provide loans against non-traditional assets like artwork, wines, vintage cars and others. Although pawnbrokers provide funds in lieu of such assets, they have an outdated business structure and a bad reputation. Moreover, negotiating the value of your physical assets with pawnbrokers is embarrassing.

Collateral Network (COLT) brings the professionalism of banks and flexibility of pawnbrokers under one roof. Collateral Network (COLT) grants anyone loans by minting fractionalised NFTs against real-world physical assets once they have been authenticated. The network makes these NFTs available to lenders for a small amount at a fixed interest rate and time scale. These NFTs enable lenders to assist in raising funds for loans for borrowers at the required amount, with the intention of the loan being paid back by the borrowers once raised fully. The success of this will result in the asset being returned to the borrower and the NFT being burned, or if unsuccessful, the asset will be sold at auction which will be open to all COLT holders at a lower market price.

The more Collateral Network (COLT) tokens borrowers hold, the lesser their EMIs for loans will be. So, if you join Collateral Network (COLT) in the early phase, you can gain more benefits. The presale value of COLT tokens is $0.01. A 50% bonus offer is also available in the Beta stage. The market value of Collateral Network (COLT) is expected to surge to $0.35 in the upcoming months. Only presale COLT holders will get access to the VIP members club, and a discount on transaction fees.

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/Presale: https://app.collateralnetwork.io/registerTelegram: https://t.me/collateralnwkTwitter: https://twitter.com/Collateralnwk

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Japan targets Binance, 4 other crypto exchanges as Bittrex bows out … – Kitco NEWS

(Kitco News)-The global crypto clampdown continues to unfold as Japan has become the latest country to take action against its growing cryptocurrency industry by issuing warning letters to several foreign crypto exchanges informing them that they have been operating in the country without the proper registration.

On Friday, Japans financial regulator, the Financial Service Agency (FSA), sent letters to multiple exchanges including Binance, MEXC Global, Bybit, Bitforex and Bitget warning them that their operations are violating the nations fund settlement regulations by facilitating the exchange of crypto assets without first completing the registration process.

The regulator also said the five exchanges are not the only firms that are non-compliant, and their action does not necessarily indicate the current state of unregistered business.

The regulations in question were first introduced in 2020 and require all cryptocurrency exchanges to register with the agency and obtain a license in order to operate in Japan.

Thus far, Japan has not been as heavy-handed as some other countries when it comes to regulating its crypto industry, but that appears to be changing amid a global push by governments around the world to limit illicit cryptocurrency use and establish a clear regulatory framework for individuals and companies.

For example, the FSA issued its first formal warning letter to Binance and Bybit for operating without the necessary permissions back in 2021, but the exchanges have yet to see any serious consequences for continuing to operate.

The warning from Japan is just the latest in a growing list of Binances woes after authorities in the U.S. sued the exchange and its founder Changpeng CZ Zhao for violating U.S. securities laws.

All exchanges that do not comply with the FSAs regulations and continue to operate without the proper registrations face fines and legal action. This warning highlights the steadily increasing regulator scrutiny that crypto exchanges and companies face in Japan and around the world.

Concerns of illegal activities such as money laundering, fraud, tax evasion and market manipulation have risen amid a growing global banking crisis, and regulators are working to plug any capital outflow loopholes and put a halt to other illicit activities.

While many exchanges have chosen to work with regulators in an effort to continue providing services in certain jurisdictions, others have opted to close up shop and focus on more welcoming governments. Both Coinbase and Kraken, two of the largest exchanges in the U.S., have closed their operations in Japan due to challenging market conditions and the need to cut expenses and refocus their efforts.

On Friday, the cryptocurrency exchange Bittrex announced that it would be exiting the U.S. market after nine years of operation as its just not economically viable for [them] to continue to operate in the current U.S. regulatory and economic environment.

After discussing the nine-year journey, Richie Lai, the CEO and co-founder of Bittrex, said Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape Operating in the U.S. is no longer feasible and Bill, Rami and I will focus on helping Bittrex Global succeed outside the U.S.

The withdrawal of Bittrex from the U.S. market follows the countrys crackdown on crypto banking providers in the wake of the collapse of Silvergate Bank, Silicon Valley Bank and Signature Bank.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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