Shiba Inu (SHIB) has experienced an impressive resurgence as it reclaims its AAA rating from CertiK, a renowned blockchain security platform. This upgrade in rating comes as a response to previous concerns raised by investors and the cryptocurrency community following a decline in SHIB’s security score.
Just a week ago, there was a slight drop in SHIB’s rating, resulting in a score of 93.67. However, the asset has swiftly bounced back with a score of 94.03, reclaiming the coveted AAA rating. This prestigious rating is the highest category on CertiK and is shared by esteemed cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
CertiK’s Security Score is a thorough assessment mechanism that examines a project’s security position in real-time, considering various aspects such as on-chain and off-chain data. It offers a holistic evaluation of a project’s security and quality, which are pivotal in establishing its credibility and dependability.
The security score is graded on a scale of 0 to 100, divided into five distinct levels: AAA, AA, BB, B, and CC, with AAA representing the pinnacle of achievement and holding the utmost prestige. This rating system serves as a benchmark for determining the overall strength and trustworthiness of a project.
BitFlyer’s Travel Rule Compliance for Shiba Inu (SHIB)
In a recent tweet, BitFlyer, one of the leading cryptocurrency exchanges in Japan, revealed its decision to adhere to travel rules, which includes the inclusion of Shiba Inu among the crypto assets affected by this regulation.
BitFlyer introduced support for the “Travel Rule Universal Solution Technology” (TRUST), a solution aimed at ensuring compliance with travel rules for both individual and corporate customers who deposit and transfer crypto assets on the exchange. The implementation of this solution will commence on Tuesday, May 30, 2023, at approximately 3:00 p.m. It encompasses several crypto assets handled by BitFlyer, such as Bitcoin (BTC), Ethereum (ETH), and various ERC-20 tokens like Basic Attention Token (BAT), Chainlink (LINK), Polygon (MATIC), Maker (MKR), Shiba Inu (SHIB), and Palette (PLT).
According to Coinpost, BitFlyer, one of the largest crypto exchanges in Japan, announced that it will only support cryptocurrency deposits and transfers from exchanges or wallets that comply with the travel rule from May 30. https://t.co/6JOPznaDMo— Wu Blockchain (@WuBlockchain) May 30, 2023
Furthermore, BitFlyer emphasized that it will only support cryptocurrency deposits and transfers originating from exchanges or wallets that comply with the travel rule starting from May 30. This announcement highlights BitFlyer’s commitment to regulatory compliance and ensuring a secure environment for its users and the wider cryptocurrency community.
With a keen eye on the latest trends and developments in the crypto space, I’m dedicated to providing readers with unbiased and insightful coverage of the market. My goal is to help people understand the nuances of cryptocurrencies and make sound investment decisions. I believe that crypto has the potential to revolutionize the way we think about money and finance, and I’m excited to be a part of this unfolding story.