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Ford, Toyota double down on blockchain as driverless car tech stagnates

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Major automotive giants Ford and Toyota are significantly ramping up their investments in blockchain technology as progress in driverless car development appears to stall. Both companies are exploring the potential of blockchain to enhance various aspects of their operations, from supply chain management to vehicle security.

The decision to deepen their commitment to blockchain comes as the anticipated advancements in autonomous vehicle technology have faced unexpected delays and technical hurdles. Industry experts have noted that while the initial excitement around driverless cars was high, recent developments have not met the ambitious timelines initially projected.

Ford and Toyota’s increased focus on blockchain reflects a strategic shift towards leveraging digital ledger technology to address some of the inefficiencies and vulnerabilities in their current systems. For Ford, the integration of blockchain aims to improve transparency and traceability within its supply chain, potentially reducing costs and mitigating risks associated with parts and materials.

Similarly, Toyota is exploring blockchain applications to enhance vehicle data management and security. The company believes that blockchain can offer robust solutions for protecting sensitive information and verifying the authenticity of parts, which is crucial in maintaining the integrity of their vehicles and operations.

Both automakers view blockchain as a transformative technology that can provide long-term benefits beyond the immediate challenges facing driverless car development. The technology’s decentralized nature offers significant advantages in terms of security, efficiency, and data management, which are increasingly critical as vehicles become more connected and complex.

While the shift towards blockchain represents a significant pivot for Ford and Toyota, it also underscores the broader industry trend of exploring alternative technologies to complement or enhance existing innovations. As the automotive sector continues to navigate the evolving landscape of technology and regulation, these investments in blockchain signal a strategic move to stay ahead of potential disruptions and capitalize on new opportunities.

As the automotive world watches closely, Ford and Toyota’s blockchain initiatives could set a precedent for how traditional manufacturers adapt to technological shifts and challenges. The outcomes of these efforts may well influence the future direction of both blockchain applications and the broader automotive industry.

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Binance tightens South African compliance rules for crypto transfers

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Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

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SEC says it won’t re-file fraud case against Hex’s Richard Heart

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The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

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