The UK authorities have released a detailed report of how it intends to reduce the financial stability problems related to financial settlements with cryptos. The authorities saw the need for this regulation following the UST stablecoin at the beginning of this month. Before its collapse, the UST was among the top three stablecoins globally. UK…
BTC mining difficulty is now 29.85 trillion from the previous 29.85 trillion. The amount represents a 4.34% drop in the asset’s mining difficulty. The drop rate of the BTC difficulty adjustment algorithm represents the asset’s second-largest in a little less than 12 months. The Relevance Of The DAA Drop Last July, the DAA drop rate…
Providing regulatory clarity on virtual currencies is the goal of every country’s central bank globally. Since 2020, nations have clamored for better oversight in the crypto industry to curb illicit transactions and safeguard investors. Turkey has reportedly joined the long list of countries that aims to develop its cryptocurrency sector with improved oversight. The European…
Earlier this month, the Terra network crash resulted in an intense sell-off in the crypto market. Analysts estimate that the crypto market cap dipped by nearly $500B following the crash. All digital assets are still well off their ATHs. The Leading digital asset, BTC, continues to trade at sub-$30K levels. After the network crash, the…
Two top South Korean exchanges (Bithumb and Upbit) have issued investment warnings over Litecoin’s recent upgrade. It is noteworthy that the exchanges issued their warnings separately. Litecoin’s New Upgrade Might Contradict FATF Policy The English translation of Bithumb’s notice reads, “the Mimblewimble extension blocks (MWEB) enhances Litecoin network’s scalability. However, the developers also included a…
On Tuesday, the BaFin (Federal Ministry of Finance) issued a 24-page publication that outlined the transparent tax principles for virtual assets as well as for cryptocurrencies. Individual taxpayers, businesses, and tax practitioners at present have a straightforward way regarding the tax requirements dealing with selling, trading, as well as obtaining cryptocurrencies. The chief important factor…
Jerome Powell’s nomination for being the chairman of the Federal Reserve System’s board of governors has been sanctioned on the behalf of the Senate of the United States until 2026. On Thursday, voting occurred in the Senate with 80-19 being the results pointing toward the endorsement by U.S.-based policymakers regarding the chairmanship of Jerome Powell…
The broad market and Bitcoin see early pressure with increased regulatory scrutiny threatening market players’ appetite following roller-coaster events over the past week. Sunday sessions saw BTC on a 3rd successive day of gains, ending the week with an 8% loss. Bitcoin witnessed a 7th sequential week of red. While the space recovered from the…
With its efforts to provide a much better intelligence system, the Coinbase Crypto exchange moves towards introducing new solutions to handle risks more effectively. Popular crypto exchange, Coinbase very recently revealed a brand-new collection of tools and solutions named as “Coinbase Intelligence” to facilitate all kinds of businesses, financial firms, Law makers and individuals who…
Bison Bank – a bank based in Portugal – acquired permission on the behalf of the Portuguese Central Bank (also called Banco de Portugal) to run as a VASP (virtual asset service provider), making the initial bank across the country to be granted the permission by the regulatory agency. On Thursday, the virtual-asset list of…
Nowadays, cryptocurrency is a hot topic that is under discussion globally. The whole world is working on different aspects of cryptocurrency. The increasing popularity of crypto made the world think about legislation regarding the crypto market. The government of Virginia made legislation and allowed the chartered banks of the state to offer custodial services regarding…
Inspired with the developments surrounding VISA and American Express regarding the Metaverse, MasterCard has also decided to expand their sources of revenue. New Trademarks Globally popular payment service, MasterCard has recently registered around 15 Metaverse and NFT Trademarks in cooperation with the U.S Patent and Trademark Office. The main motivation behind registering in these trademarks…
A recent Bloomberg report has revealed that Grayscale Investments seeks to start offering its services to the wider European crypto market. According to the firm’s CEO, Michael Sonnenshein, Grayscale has already started discussing with local partners. Grayscale Already Has A Detailed Plan For Entering Europe’s Crypto Space – Grayscale CEO However, Sonnenshein refused to reveal…
This latest development sees the relationship between the US Securities and Exchange Commission and spot BTC exchange-traded fund continues to take attention-grabbing turns. However, the outcome stays constant – indefinite delay. An exchange-traded fund (ETF) is a saving vehicle that monitors the performance of assets or an asset. User can diversify their portfolios efficiently without…
Mexico’s apex bank (the Banxico) has revealed that it plans to launch the digital Pesos within the next three years. While speaking at a senate hearing, the bank’s chief, Victoria Rodriguez Ceja, disclosed that the 3-year period would give the bank the appropriate time to ensure that the national digital currency completes the three money…
A top-level executive with one of the leading crypto firms (SatoshiLabs) has weighed in on regulators’ increasing worries over crypto investors’ decisions to move their digital assets. Recently, there has been a huge spike in the number of crypto investors moving their digital assets from centralized exchanges to private wallets. Ban Popularizes Certain Technologies SatoshiLabs’…
A group supposedly representing the interest of Russian banks has proposed a crypto-related bill to Russian authorities. The group wants the Russian government to make it a criminal offense for anyone to own private crypto wallets. Even though the financial regulators are set to discuss the idea, industry analysts opine that it is nearly impossible…
It is unarguable that WazirX ranks among India’s top five crypto exchanges. However, multiple reports from local news outlets reveal that the firm is set to move its headquarters from India to Dubai. The news might be credible given that the co-founders have already relocated to Dubai with their families. Implications Of New Crypto Tax…
According to a report from the Economic Times, just a few days after its launch in the country, Coinbase has decided to shut down the Unified Payments Interface (UPI) In India during the weekend. Before its launch in India, Coinbase, which is said to be the biggest cryptocurrency exchange in the United States, regarding trading…
Financial regulators from Texas and Alabama, USA, have issued a cease and desist order to a virtual casino firm after they alleged that it was selling unlicensed securities which represents a fraudulent act. Were They Selling Unlicensed Securities? The two security regulators claimed that Martin Schwarzberger and Finnruben Warnke (co-founders of Sand Vegas casino) had…