The Angry Hanuman design on a sticker on an autorickshaw in Mumbai (photo via Wikimedia Commons)

In the weeks leading up to the inauguration of the Ram Mandir (temple of Ram) in Ayodhya on January 22, saffron flags dotted streets, marketplaces, and private balconies across the north Indian city. They were attached to bikes, cars, and auto-rickshaws, and forcibly hoisted onto a church by a group of men chanting Hindu nationalist slogans. Featuring an image of the Hindu god Ram standing with a bow and arrow in front of the outline of the temple, the bright-orange flags, a color associated with the Hindutva movement, are a sign of celebration the deitys so-called return to his birthplace. The temple was built on contested land where the 16th-century Babri mosque once stood, before being demolished by a Hindu nationalist mob in 1992. The Ram Mandirs inauguration marked a victory for Hindu nationalists and for the Ram Janmabhoomi movement, spearheaded by right-wing politicians in the late 80s, to reclaim Rams birthplace.

When the Ram Janmabhoomi movement picked up, there was this idea that Hindus are victims of historical invaders, and so they needed to have more aggressive, more muscular figures to represent Hinduism, Indian designer and graphic artist Orijit Sen told Hyperallergic. Lord Ram, the hero of the Hindu epic Ramayana, was transformed from a serenely smiling god into a warrior wielding a bow and arrow and sporting a six-pack. Other Hindu gods have also changed in appearance, from the battle-ready Hanuman to the impossibly muscular Shiva. The qualities associated with them have morphed as well, from softer virtues of devotion and humility to a fiery morality. While the idol inside the Ram Mandir in Ayodhya is of an innocent five-year-old Ram who has returned home, the images on the flags, posters, and banners across the country portray him as a fearsome warrior.

Gone are the curved, graceful figures the Hindu iconography of the 21st century, often in digitally rendered images, conveys a hypermasculine, aggressive new Hinduism to galvanize people into action. And it has become a chilling extension, and tool, of the Hindu right in India.

From the 6th-century rock-cutting in the Ellora caves to the miniature paintings from the 19th century, Hindu gods were portrayed as graceful, rounded, serene figures in art and sculpture. Historian and writer Anirudh Kanisetti explained that during the medieval period, artists often cast them as idealized royals to give kings more authority as lieutenants or partners of the gods. They had lithe bodies, heavily bejeweled and wearing the latest fashions. These renderings also reflected distinct cultural understandings of sex, masculinity, and gender, as in the Bhakti poetry praising the beauty and sensuality of the gods. They are depicted as strong and powerful, Kanisetti told Hyperallergic, but always in a way thats effortless. As though their power emerges from their divinity, rather than from going to the gym.

Raja Ravi Varma, one of Indias first modern artists, incorporated Western realism into his paintings of the gods in the 1890s. Using human models to illustrate deities, his works were mass-produced, and public spaces were soon filled with calendar art of humanistic gods from the Ramayana and Mahabharata epics. Religious iconography continued to evolve over the next century within pop culture and Hindu gods were depicted in media from Amar Chithra Katha comics and to the popular 1987 Ramayan TV show.

This evolution can be clearly traced through depictions of Hanuman, a monkey deity. Traditionally portrayed in Pahari paintings from the 17th to 19th centuries as a full-fledged monkey, Hanumans only human elements were a crown and a dhoti (long loincloth). He is devoted to Ram and portrayed as docile and playful, usually shown sitting at the feet of Ram and Sita, his wife.

But the version of Hanuman that is now ubiquitous across India is starkly different. The image dubbed Angry Hanuman shows a dramatically shadowed, frowning face in saffron and black. Created by 25-year-old graphic designer Karan Acharya in 2015, this scowling sketch of Hanuman went viral within a year. It can be found on the windshields of cars and trucks, flags, t-shirts, watches, and even WhatsApp display photos.

The Angry Hanuman seems to signify a muscular, aggressive Hindutva, said Kanisetti. One of the founding myths of Hindutva is that all Hindus were humiliated by Muslim invaders, and that this was because Hinduism wasnt sufficiently aggressive.

Even before the meteoric rise of the Hindu nationalist movement in 2014 following the election of Indian Prime Minister Narendra Modi, the move toward a more contemporary version of Hinduism was already underway. The success of the International Society for Krishna Consciousness (ISKON), also known as the Hare Krishna movement, the Art of Living organization, and figures such as Sadhguru shows that younger generations were open to more modern portrayals of their religion. Images of a muscular Shiva smoking weed became an icon of a new, chill version of Hinduism, showing up on posters in cafes, on t-shirts, and as a common tattoo choice. Theres this image of Indian nationhood thats being created, Kanisetti said. One that is simultaneously traditional, based on an imagined idea of a single Hindu tradition, and one that is contemporary, based on a recent aesthetic of coolness, and it taps into 21st-century anxieties about masculinity and inferiority compared to the West.

Extremist groups and political parties, including the ruling Bharatiya Janata Party (BJP), have harnessed the potential of social media to shape religious messaging. Its a successful strategy given the rise of affordable internet and phones in the country, an unemployment crisis, and a fragile democracy in which religious tension is only growing. The imagery that has occupied public spaces in the past few years shows Hindu gods who match the anger and machismo of nationalist groups, frequently led by men. Kanisetti added that they also tap into the insecurities, anger, and fears that some Hindu Indians harbor. On social media, AI-driven retellings of mythological stories offer visuals of a glorious, imagined past, with gods towering over their subjects, muscles rippling and weapons in hand. Commenting on these AI-based visualizations, Kanisetti noted that while they might be unconvincing to many, younger generations might believe in this depiction of Indias glorious past.

There is a kind of imaginary being created to which these figures belong, and its not really an Indian one, Sen added. Its drawing from Hollywood and superhero comics, from Western popular culture. And the reason were seeing it, absolutely without a doubt, is because the Hindu right is creating and pushing it.

Arvind Rajagopal, Media Studies professor at New York University and author of Politics After Television: Hindu Nationalism and the Reshaping of the Public in India (2009), illuminated the transition from an earlier sense of unchanging values into rapidly changing imagery.

There is now a constant revision of how gods are portrayed, throwing aside traditional texts, but always claiming continuity with tradition, Rajagopal told Hyperallergic. And this is something very different. Its meant to terrorize.

Link:

How Hindu Iconography Became an Extension of Right-Wing Nationalism - Hyperallergic

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails

The Vatican has issued a new document rejecting the concept of changing biological sex.

The doctrine office finally issued Infinite Dignity, a 20-page declaration that has been in the works for five years, on Monday.

After substantial revision in recent months, it was approved by Pope Francis, who ordered its publication.

In its most eagerly anticipated section, the Vatican repeated its rejection of gender theory.

It said God created man and woman as biologically different, separate beings, and said they must not tinker with that plan or try to make oneself God.

The publication is a setback for transgender people who had hoped Pope Francis might be setting the stage for a more welcoming approach from the Catholic Church.

Around the world, major religions have diverse approaches to gender identity, and the inclusion or exclusion of transgender people.

Here are examples from some religions:

The Catholic Churchs disapproving stance toward gender transition is shared by some other denominations. For example, the Southern Baptist Convention - the largest Protestant denomination in the United States - adopted a resolution in 2014 stating that Gods design was the creation of two distinct and complementary sexes, male and female. It asserts that gender identity is determined by biological sex, not by ones self-perception

However, numerous mainline Protestant denominations welcome trans people as members and as clergy. The Evangelical Lutheran Church in America elected an openly transgender man as a bishop in 2021.

In Islam, there isnt a single central religious authority and policies can vary in different regions.

Abbas Shouman, secretary-general of Al-Azhars Council of Senior Scholars in Cairo, said that for us, ... sex conversion is completely rejected.

It is God who has determined the ... sex of the fetus and intervening to change that is a change of Gods creation, which is completely rejected, Shouman added.

In Iran, the Shiite theocracys founder, Ayatollah Ruhollah Khomeini, issued a religious decree, or fatwa, decades ago, opening the way for official support for gender transition surgery.

In Hindu society in South Asia, while traditional roles were and are still prescribed for men and women, people of non-binary gender expression have been recognized for millennia and played important roles in holy texts. Third gender people have been revered throughout South Asian history with many rising to significant positions of power under Hindu and Muslim rulers. One survey in 2014 estimated that around 3 million third gender people live in India alone.

Sanskrit, the ancient language of Hindu scriptures, has the vocabulary to describe three genders - masculine, feminine and gender-neutral.

The most common group of third gender people in India are known as the hijras. While some choose to undergo gender reassignment surgery, others are born intersex. Most consider themselves neither male or female.

Some Hindus believe third gender people have special powers and the ability to bless or curse, which has led to stereotyping causing the community to be feared and marginalized. Many live in poverty without proper access to healthcare, housing and employment.

In 2014, India, Nepal and Bangladesh, which is a Muslim-majority country, officially recognized third gender people as citizens deserving of equal rights. The Supreme Court of India stated that it is the right of every human being to choose their gender, and that recognition of the group is not a social or medical issue, but a human rights issue.

Buddhism has traditionally adhered to binary gender roles, particularly in its monastic traditions where men and women are segregated and assigned specific roles.

These beliefs remain strong in the Theravada tradition, as seen in the attempt of the Thai Sangha Council, the governing Buddhist body in Thailand, to ban ordinations of transgender people. More recently, the Theravada tradition has somewhat eased restrictions against gender nonconforming people by ordaining them in their sex recorded at birth.

However, the Mahayana, and Vajrayana schools of Buddhism have allowed more exceptions while the Jodo Shinshu sect has been even more inclusive in ordaining transgender monks both in Japan and North America. In Tibetan Buddhism, Tashi Choedup, an openly queer monk, was ordained after their teacher refrained from asking about their gender identity as prescribed by Buddhist doctrine. Many Buddhist denominations, particularly in the West, are intentionally inclusive of transgender people in their sanghas or gatherings.

Reform Judaism is accepting of transgender people and allows for the ordination of trans rabbis. According to David J. Meyer, who served for many years as a rabbi in Marblehead, Massachusetts, Jewish traditional wisdom allowed possibilities of gender identity and expression that differed from those typically associated with the sex assigned at birth.

Our mystical texts, the Kabbalah, address the notion of transitioning from one gender to another, he wrote on a Reform-affiliated website.

Its different, for the most part, in Orthodox Judaism. Most transgender people will find Orthodox communities extremely difficult to navigate, says the Human Rights Campaign, a major U.S. LGBTQ-rights advocacy group.

Transgender people are further constrained by Orthodox Judaisms emphasis on binary gender and strict separation between men and women, the HRC says. For example, a transgender person who has not medically transitioned poses a challenge for a rabbi who must decide whether that person will sit with men or women during worship.

Rabbi Avi Shafran, spokesman for the Orthodox Jewish organization Agudath Israel of America, wrote a blog post last year after appearing on an Israeli television panel to discuss transgender-related issues.

There can be no denying that there are people who are deeply conflicted about their gender identities. They deserve to be safe from harm and, facing challenges the rest of us dont, deserve empathy and compassion, Shafran wrote. But the Torah and its extension, halacha, or Jewish religious law, are unequivocal about the fact that being born in a male body requires living the life of a man, and being born female entails living as a woman.

In Judaism, each gender has its particular life-role to play, he added. The bodies God gave us are indications of what we are and what we are not, and of how He wants us to live our lives.

Read this article:

How major religions take very different stances on trans people and gender identity - The Independent

The Gujarat government recently released a circular clarifying that Buddhism is to be considered a separate religion, along with Jainism and Sikhism. Under the provisions of the Gujarat Freedom of Religion Act, 2003, any conversions from Hinduism to these religions now require prior approval from the respective district magistrate.

The circular, signed by Deputy Secretary (Home) Vijay Badheka and issued by the Home department on April 8, addresses concerns about conversions to Buddhism not following the rules. Mass conversions to Buddhism, especially among the Dalit community, have been observed annually during events coinciding with festivals like Dussehra.

Also Read:Great Gamblers of Phalodi: Poll predictions rarely go wrong in this sleepy Rajasthan town

The directive emphasises the need for strict adherence to the Gujarat Freedom of Religion Act, citing instances where district magistrates misinterpreted its provisions. Some offices failed to follow prescribed procedures for conversions from Hinduism to Buddhism and even entertained representations suggesting that such conversions did not require prior permission, Indian Express reported.

In cases where applications are filed seeking prior permission, concerned offices are disposing of such applications while stating that under Article 25(2) of the Constitution, Sikhism, Jainism, and Buddhism are included within Hinduism. It further instructed the district magistrates to decide on applications for religious conversion after a detailed study of the legal provisions and by following instructions issued by the state government from time to time, the circular read.

Also Read:Drunk driver, bus lacked documents: Haryana government orders probe into Mahendragarh school bus accident

A senior official from the Home Department explained that the circular was issued to clear up any confusion regarding the rules for converting from Hinduism to Buddhism. Some district magistrates were misinterpreting the law, so the circular was issued to provide clarification.

In Gujarat, theres a noticeable trend of Dalits converting to Buddhism. The Gujarat Buddhist Academy (GBA) frequently hosts such conversion events. Ramesh Banker, Secretary of GBA, welcomed the circular, stating, We believed from the beginning that Buddhism is not a part of Hinduism, and for conversion to Buddhism, prior permission of the district magistrate is mandatory in a prescribed format. It was our demand (to issue such a clarification), which has been fulfilled.

In our conversion events, we have always followed the procedure, taking prior permission from the concerned district magistrate by filling up a prescribed form, he added.

Also Read:Will not accept CAA, UCC, NRC: Mamata Banerjee targets BJP at Eid rally in West Bengal

The circular seeks to simplify the conversion process by detailing the requirements for obtaining permission. It also warns against providing incorrect responses to conversion applicants, which could lead to legal disputes.

Referring to the Gujarat Freedom of Religion Act, the circular asserts Buddhism as a distinct religion. It mandates prior permission from the district magistrate for conversions from Hinduism to Buddhism/Sikhism/Jainism.

The form has to be submitted to the district magistrate one month before the conversion event by the dharmguru (religious head) under whom the conversion would take place. In the form, details of the person(s) to be converted are to be submitted, including name, address, community, whether they belong to Scheduled Caste or Scheduled Tribe, marital status, occupation, monthly income, the time since when he is following the religion from which he is converting, reasons for conversion, venue and date of the conversion event and the name of the dharmguru who will perform the conversion, among others. So the applicant is not required to take permission for (such) religious conversion, the circular stated, according to The Indian Express report.

It is possible that the replies given to applicants in sensitive subjects like religious conversion without sufficient study of legal provisions can result in judicial litigations, it added.

Read the original:

Buddhism separate religion, Hindus need to seek permission to convert, says Gujarat government - The Financial Express

ANI | Updated: Apr 12, 2024 21:18 IST

New Delhi [India], April 12 (ANI): India on Friday said that it is a "positive development" that the Taliban is restoring property rights for Afghan Hindus and Sikhs in the country. "We have also seen reports. If the Taliban administration has decided to restore property rights to Hindus and Sikhs from Afghanistan...I mean, who are their nationals, it is something which is a positive development. That is how we look at it," the official spokesperson of MEA, Randhir Jaiswal said during a weekly media briefing on Friday.

Jaiswal responded to a question asked about the reports stating that the Taliban justice ministry has come up with some solutions for the property problems that the minorities were facing and that property rights have been restored to the Hindus, and the Sikhs. Notably, the Land-Grabbing Prevention and Restitution Commission has started investigating cases of usurped land belonging to Hindu and Sikh communities across the country, reported Kabul-based Ariana News on March 10. The Ministry of Justice had said in a statement it instructed technical teams in the capital and in provinces to identify usurped land belonging to Hindu and Sikh communities and land at risk of being grabbed. (ANI)

See the article here:

"Positive development": India on Taliban restoring property rights for Afghan Hindus, Sikhs - ANI News

Binances new CEO said the cryptocurrency exchange is a more mature company now.

Speaking with CNBC Tuesday (April 9),Richard Tengacknowledgedconcernsraised by theU.S. Department of Justice which fined Binance $4.3 billion last year over the companys better to ask for forgiveness than permission ethos.

In those very early stages of development Binance was operating in a certain fashion, Teng told CNBCs Arjun Kharpal at the Paris Blockchain Week crypto conference. But we have moved past that. As the company moves into greater maturity, we are looking at sustainability. The direction of travel now is very clear toward much more compliance, which is why were building up a very robust compliance program.

Binance agreed topay the finein November to settle a case brought by the federal government. Former Binance CEOChangpeng Zhaopleaded guilty to failing to establish proper money laundering controls and agreed to resign from the company. He is due to be sentenced in three weeks and could face up to 18 months inprison.

The plea deals marked the conclusion of a lengthy investigation into the worlds largest crypto exchange.

Prosecutors said that Binance under Zhao had prioritized Binances growth over compliance with U.S. law, CNBC reported.

U.S. authorities also accused Binance of permitting transactions between users in the U.S. and those in jurisdictions that were under American sanctions, per the report.

Meanwhile, Binance is contending with legal issues in other countries, such as Nigeria, where its head of financial crime compliance,Tigran Gambaryan, has been charged withtax evasionand money laundering.

Gambaryan, who is a U.S. citizen, has beendetained in Nigeriasince arriving in the country last month after the government said Binance was operating there illegally.

He was taken into custody along with another executive, Nadeem Anjarwalla, a British-Kenyan who is Binances regional manager for Africa. Anjarwallaescaped custodyand fled Nigeria in March. Binance has said Gambaryan was not responsible for any actions by the exchange, as he had no decision-making power in the company.

Both Gambaryan and Anjarwallasuedthe Nigerian government last month, accusing the countrys national security advisor, Nuhu Ribadu, and the Economic Financial Crimes Commission of violating their fundamental human rights. The executives have asked the Federal High Court to order the agencies to release them, return their passports and apologize publicly.

For all PYMNTS crypto coverage, subscribe to the daily Crypto Newsletter.

Continued here:

Binance Is Building 'Robust Compliance Program,' CEO Says - PYMNTS.com

Discover how BlockDAG Coin's trailblazing $2 million giveaway outperforms Ethereum news and Arbitrum (ARB) price in the crypto space.

Recently, on Ethereum news, a surge was forecasted, and the Arbitrum price momentum is capturing the crypto community's attention. Amidst this, BlockDAG emerges as a game-changer, with its presale already generating $16.4 million and a $2 million mega giveaway, signalling a rapid sell-out. The 30,000x ROI potential makes BlockDAG the highest ROI crypto, paving a new path for investors looking for a clear front-runner in the digital finance revolution.

Arbitrum (ARB) has been going through ups and downs in the cryptocurrency market. Recently, its price dropped by 31% over two weeks. But now, there are signs that buyers might be returning, which could lead to a turnaround for ARB. Some indicators show that ARB might be on the rise again. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) show positive signs, suggesting buyers are getting interested again.

However, there are still challenges ahead. To recover fully, ARB needs to surpass certain price levels. If it fails to do so, it might drop further before bouncing back again. For investors, monitoring the market and making informed decisions is essential. While there are promising signs for ARB's comeback, there are also risks. By staying informed and cautious, investors can take advantage of opportunities while navigating the cryptocurrency market's volatility.

Ethereum's price increased by 8% recently, higher than that of other cryptocurrencies like Bitcoin. It is now close to its highest point this year but still lower than its highest ever. Traders are optimistic about Ethereum's future and target higher prices by the end of April.

There's a lot of interest in Ethereum options, where traders bet on its price movements. This suggests that many believe Ethereum's price will increase in the coming weeks. However, only some are so positive. Some experts think that the recent excitement around Ethereum might not last if certain events, like the approval of Ethereum investment funds, don't happen.

BlockDAG's audacious $2 million mega giveaway is becoming a hot talk in crypto community engagement. By requiring participants to hold a minimum of $100 in BDAG and encouraging involvement through a series of tasks, BlockDAG ingeniously boosts brand visibility while deepening its relationship with the community. This increases the coin's user base and elevates its status to potentially the highest ROI crypto, positioning BlockDAG as an attractive investment.

Unlike traditional strategies seen in Ethereum news or the Arbitrum (ARB) price fluctuations, BlockDAGs approach directly rewards community involvement, setting a new benchmark in how crypto projects foster loyalty and excitement. With a promising potential ROI of 30,000x, BlockDAG has captured the attention of investors worldwide.

Its presale, initially slated to last three months, has already soared to $16.4 million in record time. Such overwhelming demand underscores investors' confidence in BlockDAG's prospects. With projections indicating a price of $10 by 2025, BlockDAG offers a glimpse and a tangible pathway toward significant growth and returns in the coming years.

BlockDAG's $2 million mega giveaway stands out as a bold move in the cryptocurrency space, directly engaging with its community in a way that's both impactful and reflective of its innovative spirit.

This approach not only marks a departure from the traditional methods of giants like Ethereum and Arbitrum but also underscores the evolving nature of community engagement strategies within the crypto industry. With an impressive presale that quickly amassed $16.4 million and a vision that promises up to 30,000x ROI, BlockDAG is carving a path for those seeking more than just investment but a revolution in digital finance.

Join BlockDAG Presale Now:

Website | Presale | Telegram | Discord

Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $400. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Read the rest here:

Binance Labs' 52nd Project: What is Omni Network? - BSC NEWS

Binance, a top cryptocurrency by trading volume, is introducing Omni Network (OMNI) as its 52nd Launchpool project, per an update on April 12.

The Launchpool platform has played host to a number of major token launches in recent years, including big names like Pendle Finance (PENDLE).

To participate in the token launches, users must stake BNB or FUSD to farm OMNI coin.

BNB stakers will be able to participate for their share of 2,975,000 OMNI, or 85% of the allocated amount, during this period.

For fairness, a maximum hourly hard cap per user has been set to 3,098.95 OMNI in this pool. Over 60,000 BNB holders have already staked.

Meanwhile, FUSD stakers will share 525,000 OMNI, or 15% of the total supply. A user can receive a maximum of 546.87 OMNI every hour from data, more than 43,000 FUSD holders have staked so far.

875,000 OMNI will be distributed daily for four days starting on April 13. Once this farming period elapses, Binance will list OMNI for trading onApril 17 in a highly anticipated token launch.

However, not everyone can participate. BNB or FUSD holders from the United States, New Zealand, Japan, and five other countries are among those not eligible to farm.

(Popular Binance Launchpool Tokens)

Omni Network developers are opting to use the Binance Launchpool, following the route taken by other successful projects like Sui Network (SUI) with the Launchpool benefiting supporters as follows:

Omni Network is building a layer-1 blockchain similar to Ethereum or Solana. It aims to resolve the challenges faced by leading networks.

The platform offers built-in access to Ethereums vast user base and liquidity while connecting all rollup networks through restaking for higher scalability.

By integrating all roll-ups, Omni prevents fragmentation, considering how quickly layer-2 solutions using rollups are finding adoption.

Omni has over 400,000 users, and more than 30 projects are being built on its rails.

Explore: What Is Saga Crypto? Top Exchange Binance Reveal 51st Launchpool Project Over $2Bn Staked

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital

The rest is here:

Binance Unveils Omni Network (OMNI) as The 52nd Launchpool Project - 99Bitcoins

The European Securities and Markets Authority (ESMA) has issued a warning about the high concentration of trading activity on a limited number of cryptocurrency exchanges.

According to the regulators analysis, a single platform, Binance, controls roughly half of the entire market, while just 10 exchanges handle about 90% of all cryptocurrency trades.

The ESMAs report, released on Wednesday, also highlighted significant variations in market liquidity, with larger exchanges typically exhibiting higher levels of liquidity. While this concentration may offer efficiency benefits due to economies of scale, the regulator expressed considerable concerns about the potential implications of a failure or malfunction at a major asset or exchange for the wider crypto ecosystem.

The ESMAs examination of the fiat currencies used within the crypto market revealed a strong dependence on the US dollar and the South Korean won, with the Euro playing a comparatively minor role, accounting for only about 10% of transactions. The regulator noted that the Markets in Crypto Assets (MiCA) regulation has not yet resulted in any observable increase in the use of the Euro within the cryptocurrency market. However, the ESMA expects that MiCA could potentially catalyze growth upon its implementation in 2024, given its focus on strengthening investor protection within the market.

The regulator also challenged the notion of crypto assets serving as a safe haven during periods of broader market distress. The report identified a degree of co-movement between crypto assets and equities, while also highlighting the absence of a consistent relationship with gold, a traditionally recognized safe-haven asset.

The ESMA emphasized the inherent opacity of crypto transactions, which makes it challenging to pinpoint their origin. However, a significant portion of crypto exchanges are found to be situated in jurisdictions characterized as tax havens. According to the regulator, roughly 55% of transactions are conducted on crypto exchanges licensed under the EUs VASP framework, although a substantial proportion of these transactions likely occur outside the European Union.

The report also found that despite an increase in the number of actively traded crypto assets since 2020, the market remains highly concentrated. As of December 2023, just three cryptocurrencies Bitcoin (BTC), Ether (ETH), and the stablecoin Tether (USDT) comprise a substantial 74% of the total market capitalization and 55% of the annual trading volume.

The report follows Ripple CEO Brad Garlinghouses recent prediction that the total market capitalization of the crypto industry could double to $5 trillion by the end of 2023. In March, Bitcoin hit a new all-time high, surpassing $71,000 for the first time, following the UKs Financial Conduct Authoritys approval of cryptocurrency exchange-traded products.

The upward trend gained momentum in January when the US securities regulator approved spot Bitcoin ETFs, a catalyst for the cryptocurrencys value, which breached $70,000 last week. Ethereum also crossed the $4,000 mark on Monday.

Featured image: Ideogram

Here is the original post:

ESMA warns of crypto trading concentration on Binance - ReadWrite

Dispatch from Paris Blockchain Week

Breaking with its long standing policy of being based nowhere, Binance is in the process of establishing a global headquarters, CEO Richard Teng said Tuesday.

We are speaking to a few jurisdictions, a few are under consideration, Teng said during an on-stage interview at the Paris Blockchain Week conference.

The change comes as Binance, the worlds top crypto exchange, has come under fire in multiple markets for failing to obtain operating licences and comply with regulations.

Earlier this year, the Philippines blocked Binance from operating after the company failed to comply with licencing requirements.

Stay ahead of the game with our weekly newsletters

In March, Nigerian authorities charged Binance with money laundering and tax violations and incarcerated Tigran Gambaryan, a US-based compliance executive, in prison pending his trial.

Binance has protested Gambaryans detainment and called the allegations against him meritless.

Our utmost priority is to do what we can to bring him home as soon as possible, Teng said in Paris on Tuesday. The company is working closely with the Nigerian authorities to resolve the issue, he added.

When pressed for further details on the Nigerian crisis, Teng declined. I think we have really discussed enough of this subject matter. Lets move on, he said.

Join the community to get our latest stories and updates

Establishing a home base has long been a point of contention at Binance, even before Teng took over last November.

In 2019, co-founder and then-CEO Changpeng Zhao said that headquarters and offices were old concepts and that that time is moving on.

At a finance conference in London last fall, Teng bristled at questions about where the company was actually based. Why do you feel so entitled to these answers? he said during a video-linked interview.

Binances disregard for orthodox corporate practices and regulations caught up with it in 2023.

In November, the company pleaded guilty to violating US banking law by facilitating crypto transactions for sanctioned entities such as terrorist organisations and paid a $4.3 billion penalty. Zhao, who also pleaded guilty, resigned as CEO.

Teng, a onetime director of corporate finance at Singapores central bank, has experience in regulatory roles.

At Binance, he has vowed to install proper anti-money laundering and know-your-customer policies and comply with regulations.

Under the terms of Binances settlement with US authorities, an independent, court-approved monitor is scrutinising Binances progress on this front.

Teng appears to be hoping establishing a global HQ will signal that Binance is truly changing its ways.

Yet the details, including the location, remain fuzzy.

Its not so easy to pick one because there are a multitude of factors, said Teng, who is based in Singapore.

That includes how regulations would apply to Binances offerings, tax policies, and the ease of hiring and adding staff.

Liam Kelly is DL News Berlin correspondent. Contact him at liam@dlnews.com.

See the original post here:

Binance will finally establish a global HQ as regulatory pressure mounts, chief Richard Teng says - DLNews

Explore the innovative world of NuggetRush and Binance Coin as they revolutionize gaming and meme coin innovation.

As the highly-anticipated Bitcoin halving event nears, excitement builds in cryptocurrencies, with numerous coins poised for significant growth. Among these, Binance Coin (BNB) and NuggetRush (NUGX) are attracting attention, appearing ready for a remarkable surge. With institutional investors showing keen interest and market trends evolving favorably, NUGX and BNB seem poised for a paradigm-shifting rally in the digital asset market.

NuggetRush is thriving as one of the leading gaming tokens, offering players an engaging gaming experience with valuable in-game rewards and supporting artisanal miners in less developed nations. Each venture into a mine and every tactic devised carries the potential for uncovering valuable treasures in NuggetRush. Despite regulatory hurdles, BNB has successfully held its ground within the top 10 altcoins, showcasing impressive growth since the start of the year.

This article explores NuggetRush and Binance Coin, gearing up for a paradigm shift rally in the market.

>> Buy NuggetRush Now <<

NuggetRush fosters a vibrant community of enthusiasts within a secure virtual realm, offering a comprehensive GameFi experience. By intertwining gold mining, cryptocurrency, and real-world artisanal mining into an inventive play-to-earn concept, NuggetRush is gearing for a paradigm shift rally. Leveraging the Ethereum blockchain, this new DeFi crypto project ensures widespread accessibility, inviting countless users to immerse themselves in the game's ecosystem.

This new DeFi crypto game seamlessly merges the excitement of exploration and strategic decision-making with the potential for tangible real-world rewards. Early supporters and adopters are pivotal, serving as advocates and furnishing invaluable feedback for a game poised for global acclaim. At the heart of NuggetRush's attractiveness lie its play-to-earn mechanism, captivating meme collectibles, and visually stunning aesthetics.

Thanks to GameFi, converting your gaming achievements into real-world assets has never been easier! With the NuggetRush platform, you can earn rewards through tournaments, quests, battles, ranked play, and more, regardless of your skill level or location. The game has gained popularity as one of the top gaming tokens, aiming to become a self-sustaining community that generates revenue.

Through collaborations with gold providers, NuggetRush prepares for significant market growth. This partnership enables delivering physical gold as RUSHGEM winnings to players' chosen locations. Offering tangible rewards makes NuggetRush the best crypto to buy, ensuring memorable and valuable prizes.

Players can buy or sell character NFTs on the active player-driven marketplace alongside other scarce NFT items and valuable mined materials. Following the conclusion of the presale, a substantial 50% of tokens will be distributed over 5 claim rounds, contingent upon your entry into the project. Holders of NUGX can anticipate a thrilling chance to win a remarkable $25,000 giveaway at the presale's culmination, reserved for three fortunate NUGX holders.

>> Buy NuggetRush Now <<

Binance Coin, the leading cryptocurrency associated with the prestigious Binance exchange, has been on a remarkable upward trajectory lately. BNB has experienced a remarkable 45% surge in the past month, propelling it within a 19% reach of its previous all-time high of $690 recorded on May 10, 2021. This surge indicates BNB's current momentum and potential for further strengthening in the upcoming weeks.

BNB Chain recently embarked on an exciting endeavor, allocating a substantial $1 million fund to incentivize developers who create eligible meme coins and launch them on their network. This move represents a strategic step within Binance Coin Chain's broader vision to foster the growth and evolution of meme coin projects within its blockchain ecosystem.

Conclusion

As Binance Coin and NuggetRush gear up for a surge, investing in them now is the best decision. NuggetRush offers unique features that make it attractive as the best crypto to buy and positioned to yield investors substantial returns this year. With its partnership with gold providers, experts suggest that adding NuggetRush to your portfolio will make you a millionaire in the coming months.

Visit NuggetRush Presale Website

Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $225. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

The rest is here:

Binance Coin and NuggetRush Gear Up For a Paradigm-Shifting Rally - BSC NEWS