DigitalNote fall: XDN users misled by rumors

DigitalNote currency drop may be connected with a confusion regarding XDN and XUN
23 October 2017   4728

DigitalNote, having a market cap of more than $8 million, dropped 25,55% during last week. 

Anonymous developers of DigitalNote (XDN) have been absent since the ICO ended on June 30 and the rumors about a new team, managing the project and planning to introduce new functions, started to spread. However, there were no official statements made.

Considering absence of DigitalNote developers and lack of any official information, some members of XDN community declared themselves members of XDN official team and claimed that the project is moving to XUN. They stated that UltraNote (XUN) is a project based on XDN source code. Some users were misled by the information that UltraNote is a fork of DigitalNote.

On October 20, a note under the title “DigitalNote: XUN is NOT related to XDN” was published in twitter account of XDN Community, which cleared things up for confused users.

Thuswise, UltraNote and DigitalNote turned out to be two separate projects, independent from each other.

Nonetheless, the price of the XDN continues to decline, and there is no evidence if the development of the project and trade are active or not.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   261

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.