Category: Top Crypto News

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Poolin Freezes Withdrawals Due to Liquidity Issues – Top Crypto Updates

Poolin freezes withdrawals due to liquidity issues

Poolin, a Beijing-based Bitcoin mining pool, announced a freeze on user withdrawals. The company said it was “facing some liquidity issues” due to rising demand for withdrawals. It also announced several measures to stabilize operations. Mining pools are groups of miners that unite their efforts around one network node to mine as much Bitcoin as possible. Poolin is responsible for 10% of the overall BTC network hash rate.

Crypto prices today: Bitcoin falls 5.8%, ETH down 8.8%

Bitcoin is currently trading at $18,762.9, a decline of 5.79% over the previous day. Ethereum is down 8.8% over the last 24 hours to $1,515.69. Solana fell 6.4% to $30.97, while Cardano is trading lower by 8.4% at $0.465. Avalanche (AVAX) fell heavily by 8.4% to $18.36. The global crypto market cap stands at $940.04 billion, a 5.85% decline over the previous day.

Russia to use stablecoins to get around western sanctions

Russia is advancing its crypto strategy to circumvent/avoid Western sanctions. Deputy Finance Minister Alexey Moiseyey said the country is exploring stablecoins to make payments with “friendly countries,” reported Russian state news agency Tass. The agency quoted Moiseyev saying that Russia is working to “create bilateral platforms” with “tokenized instruments” to avoid using U.S. dollars and euros.  

Crypto is ‘key’ to crack down on crime: Europol

According to a report published by Europol, the open nature of blockchain technology provides authorities with a “key” new way to tackle organized crime. Europol has analyzed the criminal use of cryptos to support law enforcement and its response to developments in this field. New legislation being adopted by the European Union will ensure that crypto assets are subject to the same anti-money laundering regulations and oversight as regular assets.

South Korea to set up securities market for crypto tokens

South Korea’s Financial Services Commission (FSC) announced a plan to open a separate digital securities market to institutionalize and promote crypto. It will accommodate securities tokens, representing ownership rights or asset value using blockchain technology. However, the tokens will have to be registered in the format of electronic securities.

Curve Finance takes first steps toward crvUSD stablecoin

DeFi platform Curve Finance is nearing the launch of its native stablecoin, called crvUSD. Its developers released the initial code library on Tuesday. The code library will act as an interface to the yet-undeployed crvUSD smart contracts and mark the first step toward the eventual issuance of the much-anticipated tokens

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Ethereum Gets Bellatrix Upgrade Today – Top Crypto Updates

Ethereum gets Bellatrix upgrade today

The upgrade to Ethereum 2.0 is about to begin on the Ethereum blockchain. The hard fork (a separation process) that converts Ethereum from a proof-of-work (PoW) base to a proof-of-stake (PoS) basis is known as Ethereum 2.0. One of the steps in the update procedure, called “The merge,” is scheduled between September 10 and 20.

Before the final merge, the Bellatrix update for ETH is scheduled today, when the Ethereum Epoch value is anticipated to rise to 144,896 on the proof-of-stake chain.

[In proof-of-work, crypto transactions are verified through mining. Meanwhile, in proof of stake, a network participant gets selected to add the latest batch of transactions to the blockchain and earn some crypto in exchange.]

Crypto prices today: Bitcoin up 0.6%, ETH rises 6.4%

Bitcoin is currently trading at $19,886.48, an increase of 0.59% over the previous day. Ethereum is up 6.4% over the last 24 hours to $1,666.43. Solana rose 4.14% to $33.1, while Cardano is trading higher by 2.9% at $0.506. Polkadot (DOT) rose 1.1% to $7.6. The global crypto market cap stands at $998.1 billion, a 2.2% increase over the previous day.

Ethereum domain names top NFTs as most traded asset on OpenSea

Ethereum Name Service (ENS) domains have taken the top spot as the number one collection on NFT marketplace OpenSea. Driven by a 170% jump in sales over the past 24 hours, ENS surpassed the Bored Ape Yacht Club in seven-day volume. Over the past week, ENS trading volume surpassed 2,305 ETH or $3.76 million, registering a 43% week-over-week increase.

Trezor partners with Wasabi to make Bitcoin more private

Trezor has partnered with privacy project Wasabi to bring CoinJoin mixing to Bitcoin transactions on its hardware wallets. Users will be able to use CoinJoinon their Trezor devices for greater transaction privacy beginning next year. CoinJoin is a coin mixer that groups Bitcoin transactions together to obscure their origins.

Australia establishes federal crypto police unit

The Australian Federal Police (AFP) have set up a crypto crime unit that will trace and seize illicit crypto linked to money laundering and other criminal activity. The unit will help combat crypto criminals by targeting their assets and providing investigative tracing capability. Over the past year, cybercriminals have increasingly used crypto to commit a range of serious crimes in Australia.

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FIFA Launches NFT Platform on Algorand – Top Crypto Updates

FIFA launches NFT platform on Algorand

FIFA, the global governing body of association football, has announced the launch of a non-fungible token (NFT) platform for soccer-themed digital collectibles. The platform, called FIFA+ Collect, is set to launch later this month. It will feature “affordable, inclusive, and accessible” NFTs that depict notable soccer moments, art, and imagery.

Crypto prices today: Bitcoin up 0.3%, ETH rises 1%

Bitcoin is currently trading at $19,761.81, an increase of 0.28% over the previous day. Ethereum is up 1.15% over the last 24 hours to $1,564.75. Solana rose 1.6% to $31.76, while Cardano is trading lower by 0.34% at $0.491. Polkadot (DOT) rose 3.1% to $7.51. The global crypto market cap stands at $976.74 billion, a 0.4% increase over the previous day.

LG selects Hedera blockchain for television NFTs

Korea-based LG is releasing an NFT marketplace called LG Art Lab that plugs into the Hedera Network. Television owners with sets updated to LG’s most recent software will be able to buy, sell and showcase their Hedera NFTs from their screens. Incorporating LG’s mobile crypto wallet Wallypto, users can purchase assets by scanning a QR code to connect their wallets.

BlackRock to use Kraken subsidiary for crypto offering

BlackRock, the world’s largest asset manager, will use crypto exchange Kraken’s CF Benchmarks’ bitcoin index for its new crypto offering. In August, BlackRock partnered with Coinbase to make Bitcoin directly available to its institutional clients. The company also launched a spot bitcoin private trust for U.S.-based institutional investors.

Saudi central bank hires crypto chief to boost digital ambitions

Saudi Arabia’s banking regulator recently appointed Mohsen AlZahrani to lead its virtual assets and central bank digital currency program in a sign of the Gulf state’s potential crypto ambitions. AlZahrani is a former managing director at consultancy Accenture. The country has always taken a more cautious approach to virtual assets, with officials raising concerns about their speculative nature.

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Thailand Tightens Rules on Crypto Advertising – Top Crypto Updates

Thailand tightens rules on crypto advertising 

Thailand’s Securities & Exchange Commission (SEC) has rolled out new rules on advertising for crypto companies after the industry has come under greater scrutiny from authorities. Crypto firms have to clearly show investment risks in advertisements and provide a balanced view of potential risk and returns. Information of advertising terms must also be given to regulators.

Crypto prices today: Bitcoin up 0.8%, ETH rises 3.1%

Bitcoin is currently trading at $20,100.41, an increase of 0.8% over the previous day. Ethereum is up 3.15% over the last 24 hours to $1,592.06. Solana rose 1.62% to $31.59, while Cardano is trading higher by 2.9% at $0.459. Polygon (MATIC) jumped 6.6% to $0.883. The global crypto market cap stands at $984.34 billion, a 1.32% increase over the previous day.

Celsius seeks to return some customer funds in court filing

Bankrupt crypto lender Celsius said in a court filing that it would seek to return some of its customers’ funds. The company wanted to release nearly $50 million in digital assets belonging to customers who were a part of the “custody” program— accounts that stored crypto but did not generate returns. Customers of the custody program owned their assets, while customers using the Celsius “earn” or “borrow” programs had invested their assets expecting a return. 

Helium crashes 15% following proposed move to Solana

Helium’s HNT has lost significant value since developers proposed a plan to move the network over to Solana. HNT is down 32% over the past week and 47% in the last 30 days. This could indicate that investors and users may not be fully onboard with the ambitious plan.

Compass Mining to shut down Georgie mines, citing high energy costs

Compass Mining, a Bitcoin (BTC) mining rig service, was notified that the owner of lucrative mining hubs 2 and 3 located in Georgia would shut down amid rising energy costs. Since Compass sells Bitcoin mining hardware and contracts for facilities, it did not have an influence over the decision.

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Vauld Proposes to Set Up Committee of Creditors – Top Crypto Updates

Vauld proposes to set up Committee of Creditors

Crypto lending platform Vauld reached out to its customers seeking their interest to be a part of a proposed Committee of Creditors (CoC) to whom it owes money. In an e-mail sent out on August 31 to its customers, the company responded to concerns of creditors planning to seek legal representation and withdrawal of allowances during Vauld’s ongoing restructuring process.

Over the last two months, Vauld has halted withdrawals and suspended operations due to financial troubles.

Crypto prices today: Bitcoin falls 1.7%, ETH down 2.9%

Bitcoin is currently trading at $19,940.82, a decline of 1.7% over the previous day. Ethereum is down 2.89% over the last 24 hours to $1,542.94. Solana fell 3.98% to $31.04, while Cardano is trading lower by 2.7% at $0.446. Avalanche (AVAX) has fallen by 3.6% to $18.94. The global crypto market cap stands at $972.06 billion, a 1.8% decline over the previous day.

California crypto licensing bill awaits Governor’s signature

California Governor Gavin Newsom is set to sign a recently passed bill that would require digital asset exchanges and other crypto companies to obtain a license to operate in the state. The Digital Financial Assets Law is also known as California’s “BitLicense”. The proposed law aims to foster responsible innovation by licensing and regulating the activities of crypto exchanges.

Bitcoin mining difficulty spikes

According to BTC.com, the mining difficulty for Bitcoin (the world’s biggest crypto) jumped by 9.26% over the last two weeks. The Bitcoin network’s mining difficulty is at the highest level since January. Mining difficulty refers to the level of complexity involved in the mathematical process behind mining. Miners need to solve complex equations to produce a valid block that can be added to the blockchain. 

Paraguay’s President vetoes crypto mining law

Paraguay’s president, Mario Abdo Benítez, vetoed a bill that would have regulated various digital asset activities, including the commercialization of crypto mining in the country. The primary reason behind the president’s decision against the bill was that crypto mining uses high amounts of energy but brings relatively low employment benefits. 

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Busan Taps FTX to Develop Crypto Exchange – Top Crypto Updates

Busan taps FTX to develop crypto exchange

South Korean city Busan signed an agreement with crypto exchange FTX to develop blockchain-based businesses in the coming months. This partnership is in line with the city’s broader plans to become a global blockchain and financial hub. Busan City and FTX will work together to develop and promote various blockchain-focused businesses and establish the Busan Digital Asset Exchange.

Crypto prices today: Bitcoin, ETH falls 1%

Bitcoin is currently trading at $20,204.46, a decline of 1% over the previous day. Ethereum is down 0.94% over the last 24 hours to $1,573.41. Solana fell 1.91% to $32.17, while Cardano is trading higher by 0.2% at $0.454. Avalanche (AVAX) has fallen by 3.56% to $19.52. The global crypto market cap stands at $986.23 billion, a 0.8% decline over the previous day.

OpenSea adds Polygon support to expand features

NFT marketplace OpenSea announced the integration of the layer two scaling solution Polygon into its Seaport protocol implementation. The most important new feature is the ability to use the native token of the Polygon network, MATIC, to list and buy on OpenSea. In the coming months, OpenSea will be adding support for Klaytn and other Ethereum virtual machine (EVM)-compatible chains as well.

U.S. Congressional Committee probes Coinbase, FTX, Binance on fraud prevention

A U.S Congressional Committee has sent letters to the leading crypto exchanges in the U.S., requesting “information and documents” showing how each company is working to combat crypto-related fraud. Coinbase, FTX, Binance, Kraken, and KuCoin received a four-page letter requesting all documents related to crypto fraud since 2009.

The Federal Trade Commission estimates crypto fraud will con victims out of a whopping $1 billion in 2022 alone.

Japan’s FSA proposes tax breaks for crypto

Japan’s Financial Services Agency (FSA) proposed easing corporate tax rules for crypto assets and lighter levies for individual stock investors. Companies could be exempted from paying taxes for paper gains on crypto coins that they hold after issuing them. The move supports Prime Minister Fumio Kishida’s “New Capitalism” vision, which seeks to boost the world’s third-largest economy. He has offered support to help the country’s Web3 businesses grow.

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FBI Issues Warning Over Vulnerable DeFi Platforms – Top Crypto Updates

FBI issues warning over vulnerable DeFi platforms

The Federal Bureau of Investigation issued a new warning focused on attacks against decentralized finance (DeFi) platforms. Cybercriminals have been exploiting vulnerabilities in the smart contracts that govern them. Between January and March 2022, cybercriminals stole $1.3 billion in crypto, almost 97% of which was stolen from DeFi platforms,” the agency said.

The FBI recommended the careful study of DeFi platforms, protocols, and smart contracts before investing.

Crypto prices today: Bitcoin up 3.5%, ETH rises 10%

Bitcoin is currently trading at $20,542.64, an increase of 3.5% over the previous day. Ethereum is up 9.8% over the last 24 hours to $1,595.61. Solana surged 8.1% to $32.97, while Cardano is trading higher by 5.15% at $0.454. Avalanche (AVAX) has jumped 13.5% to $20.44. The global crypto market cap stands at $996.5 billion, a 4.55% increase over the previous day.

Meta adds Ethereum, Polygon NFT cross-posting between Facebook and Instagram

Meta has added the ability to cross-post non-fungible tokens (NFTs) across Facebook and Instagram for select U.S. users. The company wants to make it easier for users to share their NFTs by only requiring a one-time wallet connection on either Facebook or Instagram. The user’s wallet can be automatically recognized if cross-posting is enabled under account settings on either application. 

Crypto lender Hodlnaut placed under interim judicial management

Troubled crypto lender Hodlnaut has been placed under interim judicial management (a form of creditor protection) by a Singapore court. The company will be protected from legal proceedings from third parties. Three weeks earlier, Hodlnaut froze withdrawals due to “difficult market conditions”.

Argentina’s Mendoza Province accepts crypto for tax payments

The Argentine province of Mendoza has enabled the payment of taxes with cryptocurrencies. Users will be able to pay with any crypto wallet, including Binance, Bitso, Buenbit, Bybit, Ripio, and Lemon. Mendoza will only accept stablecoins such as DAI and USDT for tax payments. Crypto payments will be converted to Argentine Pesos by an undisclosed online payment service provider.

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Bitcoin Falls Below $20,000 After Jackson Hole Caution – Top Crypto Updates

Bitcoin falls below $20,000 on post-Jackson Hole caution

Bitcoin extended its fall below $20,000 on Monday as part of a wider crypto market retreat, primarily due to concerns about the Federal Reserve’s rate-hike path. U.S. Fed Chairman Jerome Powell’s speech at the Jackson Hole Economic Symposium rocked both equity and crypto markets on Friday with comments about economic pain ahead as the central bank raises interest rates to tackle inflation.

Crypto prices today: Bitcoin falls 1%, ETH down 3%

Bitcoin is currently trading at $19,845.16, a decline of 1.09% over the previous day. Ethereum is down 2.90% over the last 24 hours to $1,451.4. Solana fell 3.78% to $30.47, while Cardano is trading lower by 3.77% at $0.432. Avalanche (AVAX) has fallen sharply by 10.5% to $17.93. The global crypto market cap stands at $955.7 billion, a 1.29% decline over the previous day.

Singapore plans tougher rules on crypto

Singapore is planning to roll out new regulations that will make it more difficult for retail investors to trade cryptocurrencies at a time. “Despite warnings and measures, surveys show that consumers are increasingly trading in cryptos globally, attracted by the prospect of sharp price increases”, said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS). “They seem to be irrationally oblivious about the risks of crypto trading,” he added.

Mining and hash rate difficulty at all-time high amid Bitcoin crash

Bitcoin’s difficulty and hash rate, which indicate the state of the crypto network, has increased rapidly over the past month. Some analysts have stated that Bitcoin’s difficulty level is expected to hit an all-time high next week. The price of Bitcoin has been under severe pressure after US Federal Reserve Chair Jerome Powell’s comments on raising interest rates further to tame inflation.

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Polygon Founder Launches $50M Web3 Fund – Top Crypto Updates

Polygon founder launches $50 million early-stage Web3 fund

Symbolic Capital, a new crypto-focused venture capital firm headed by Polygon blockchain founder Sandeep Nailwal, has raised $50 million for a fund to invest in early-stage Web3 companies. Investors in the Symbolic fund included a number of crypto industry participants, protocols, exchanges, auditing firms, and venture capitalists.

[Web3 is an idea for a new iteration of the World Wide Web that incorporates concepts such as decentralization and blockchain technologies to give power back to the users in the form of ownership.]

Crypto prices today: Bitcoin falls 1.5%, ETH down 3.1%

Bitcoin is currently trading at $21,399.11, a decline of 1.49% over the previous day. Ethereum is down 3.18% over the last 24 hours to $1,649.8. Solana fell 4.2% to $34.67, while Cardano is trading higher by 3% at $0.479. Avalanche (AVAX) has fallen sharply by 5% to $22.49. The global crypto market cap stands at $1.03 trillion, a 1.89% decline over the previous day.

ED raids 5 premises linked to CoinSwitch Kuber

The Enforcement Directorate (ED) searched five locations linked to crypto platform CoinSwitch Kuber on Thursday. It is the third exchange to be investigated by ED for the alleged diversion of proceeds of crime raised by 365 instant loan apps by offering loans at exorbitant rates of interest.

This comes weeks after the central agency raided the offices of Zanmai Labs, the operating agency of India’s largest crypto exchange WazirX. 

Samsung plans to launch crypto exchange in South Korea by 2023: Report

As per reports, Samsung’s investment arm is eyeing the launch of its own cryptocurrency platform in South Korea. Samsung Securities is one of seven domestic brokerages looking to start operating a crypto exchange in the first half of next year. Talks with local authorities over securing licensing are said to be in advanced stages.

CoinDCX launches DeFi mobile app

Crypto exchange CoinDCX launched Okto, a decentralised finance (DeFi) mobile app aimed at easing the transition of crypto consumers to DeFi. Okto will help users securely navigate DeFi and access thousands of tokens from multiple decentralised exchanges (DEXs) across blockchains with its in-built wallet. It will be available in India within CoinDCX Pro and as a standalone Okto App globally.

Alchemy acquires Ethereum coding platform ChainShot

Blockchain development company Alchemy has acquired ChainShot, an educational platform that helps aspiring Web3 developers enter the crypto space. ChainShot offers courses and an Ethereum developer boot camp that covers blockchain fundamentals. Graduates from ChainShots secure positions at leading blockchain companies and projects, including NFT marketplace OpenSea and security firm OpenZeppelin.

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Ethereum Foundation Confirms Date for Merge Upgrade – Top Crypto Updates

Ethereum Foundation confirms date for merge upgrade

The Ethereum Foundation announced that the ETH merge upgrade will be fully completed between September 10 and 20. The network will move from a proof-of-work consensus mechanism to a proof-of-stake blockchain next month in a much-awaited upgrade known as “the merge.” 

In proof-of-work, crypto transactions are verified through mining. Meanwhile, in proof of stake, a network participant gets selected to add the latest batch of transactions to the blockchain and earn some crypto in exchange.

Crypto prices today: Bitcoin up 1.3%, ETH rises 3.4%

Bitcoin is currently trading at $21,697.9, an increase of 1.3% over the previous day. Ethereum is up 3.45% over the last 24 hours to $1,702.09. Solana rose 2.7% to $36.1, while Cardano is trading higher by 0.97% at $0.465. Uniswap (UNI) is up 2.4% to $7.19. The global crypto market cap stands at $1.05 trillion, a 1.7% increase over the previous day.

Cybercriminals have stolen over $100 Million in NFTs: Report

As per a report by blockchain analysis provider Elliptic, over $100 million in non-fungible tokens (NFTs) have been stolen in the last year. Nearly $8 million in illicit funds has been laundered using NFTs since 2017. Cybercriminals netted an average of $300,000 per scam. The report reveals that $24 million in NFTs were stolen through scams in May 2022 alone.

Coinbase to launch liquid staking token before Ethereum merge

Coinbase (COIN) will introduce its own liquid staking token called, Coinbase Wrapped Staked ETH (cbETH), ahead of the Ethereum blockchain’s Merge in September. After the merge, the token can be used to stake ether (ETH) through Coinbase. Liquid staking allows investors to generate extra yield on top of standard rewards for staking or locking coins in a network.

Crypto startup weTrade to offer zero trading fees on crypto coins

weTrade, a Bengaluru-based crypto startup, has announced plans to offer zero trading fees for buying and selling coins on its platform. Users will be able to conduct crypto transactions for as low as ₹100. The company has eliminated trading fees for the 50+ coins available on its platform, including Bitcoin, Solana, and Ethereum.

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Celsius Countersues KeyFi for ‘Gross Mismanagement’ – Top Crypto Updates

Celsius countersues KeyFi for ‘gross mismanagement’

Crypto lending platform Celsius filed a countersuit in U.S. Bankruptcy Court on Tuesday against Jason Stone and his company KeyFi. In the filing, Celsius alleges Stone falsely represented himself as a pioneer and expert in coin staking and decentralized finance (DeFi) investments. The countersuit alleges KeyFi stole millions of dollars in coins from Celsius-controlled wallets and transferred them to wallets that they owned.

Crypto prices today: Bitcoin up 0.2%, ETH rises 1.6%

Bitcoin is currently trading at $21,322.51, an increase of 0.18% over the previous day. Ethereum is up 1.69% over the last 24 hours to $1,627.57. Solana fell 0.21% to $34.90, while Cardano is trading higher by 0.74% at $0.456. Polkadot (DOT) is up 1.2% to $7.5. The global crypto market cap stands at $1.02 trillion, a 0.69% increase over the previous day.

Coinbase to cut costs, focus on subscriptions

Coinbase is cutting costs and shifting its revenue model, said CEO Brian Armstrong. He wants the crypto exchange to move away from trading fees as its main source of revenue. While such fees bring in revenue during bull markets, cash flow dries up when bearish sentiment takes hold.

In other news, a Coinbase customer is suing the exchange for $5 million for failing to properly secure customers’ accounts and “flouting” federal securities laws.

Metaverse, NFT Tokens have crashed more than 20% this week

Gaming and NFT-related cryptos, including Flow (FLOW), Axie Infinity (AXS), Decentraland (MANA), and Gala (GALA), have posted severe losses over the past week. FLOW, the token powering everything on the layer-1 blockchain flow, has fallen more than 23% over the past week.

The primary reason behind the bearish price action across the market can be linked to calls for further interest rate hikes in September. 

Nearly 15% of Indians traded in crypto in last six months: KuCoin Survey

As per a KuCoin Survey, over 115 million crypto investors in India either hold crypto or have traded crypto in the past six months, accounting for 15% of the Indian population aged 18 to 60 years. Despite the government’s stance on digital assets and the levying of a 30% tax on income from digital assets, the Indian crypto market is expected to reach $241 million by 2030, the report said.

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Invesco Launches New $30 Million Metaverse Fund – Top Crypto Updates

Invesco launches new $30 million Metaverse Fund

Global asset management firm Invesco has launched an investment fund focused on the Metaverse. The Invesco Metaverse Fund is registered in Luxembourg and has a size of approximately $30 million. It will invest in large, medium, and small-cap companies across the Metaverse Value Chain.

The Metaverse refers to an integrated network of immersive 3D worlds and online communities where people interact by using virtual reality headsets and augmented forms of reality.

Crypto prices today: Bitcoin down 0.4%, ETH up 1%

Bitcoin is currently trading at $21,170.1, a decline of 0.4% over the previous day. Ethereum is up 0.99% over the last 24 hours to $1,589.48. Solana fell 1.75% to $34.86, while Cardano is trading higher by 0.56% at $0.453. Polygon (MATIC) is up 1.17% to $0.804. The global crypto market cap stands at $1.01 trillion, a 0.22% increase over the previous day.

Argentina’s presidential candidate sued over alleged crypto Ponzi scheme

Javier Milei, one of Argentina’s presidential candidates, is being sued for allegedly promoting a crypto Ponzi scheme. Last year, he uploaded an Instagram post to his 1.3 million followers promoting CoinX, a crypto investment platform that promised huge returns to users. However, CoinX was forced to close down after Argentina’s National Securities Commission (CNV) warned that the platform had no legal right to operate in the country and ordered it to stop operations.

Crypto trade growing in Asia, need regulatory frameworks: IMF

In a blog titled ‘Crypto is More in Step With Asia’s Equities, Highlighting Need for Regulation,’ the IMF said digitalization of the payment system can foster financial inclusion. But at the same time, crypto assets can pose risks to financial stability.

Asia has rapidly embraced crypto assets, which raises the important issue of the extent of integration of crypto into the financial system in the region.

Read more here.

Telegram to launch marketplace for address auctions

Messaging platform Telegram could soon offer a marketplace to auction addresses, said founder Pavel Durov. He proposed that Telegram could re-introduce elements of Web3 by auctioning off “@ usernames, group, and channel links.” He referenced an earlier auction of wallet domain names on The Open Network, the protocol he developed alongside Telegram.