Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- The People’s Bank of China discovered Tencent Holdings Ltd (OTC:TCEHY) is guilty of violating some central bank regulations by its WeChat Pay mobile network, the Wall Street Journal reports.
- Regulators could subject Tencent to a penalty worth at least hundreds of millions of yuan.
- The central bank’s routine inspection of 2021 found WeChat Pay flouting China’s anti-money-laundering rules and had lapses in compliance with “know your customer” and “know your business” regulations.
- Related Content: Why Is Alibaba Stock Surging Despite $2.87B Antitrust Fine?
- The regulations require it to verify the identities of users and merchants transacting on its platform and the source of funds for those transactions.
- WeChat Pay also allegedly allowed the transfer and laundering of funds with illicit transactions like gambling.
- For WeChat Pay, “know your customer” and “know your business” procedures mean it must verify the identities of users and merchants transacting on its platform and the source of funds for those transactions.
- WeChat has 1.26 billion monthly active users, most of them in China.
- Price Action: TCEHY traded lower by 6.98% at $41.64 on Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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