Tag: crypto news

Categories
Market News Top Crypto News

Uzbekistan Legalises Crypto Mining Using Solar Energy – Top Crypto News

Uzbekistan legalises crypto mining using solar energy

Uzbekistan will allow companies to mine cryptocurrencies using solar energy. It will also exempt all crypto operations by domestic and foreign companies from income tax. The government wants crypto miners to power their farms by installing their own solar panels. Uzbekistan legalized crypto trading in 2018, but only on a domestic crypto exchange.

Crypto prices today: Bitcoin rises 3%, ETH up 4%

Bitcoin is currently trading at $39,559.5 a 3% increase over the previous day. Ethereum is up 4% over the last 24 hours to $2,928.67. Solana jumped 7% to $93.04, while Cardano is trading higher by 10.2% at $0.864. Avalanche (AVAX) surged 10.8% to $67. The global crypto market cap stands at $1.80 trillion, a 3.92% increase over the previous day.

Gucci to start accepting crypto in stores

Iconic fashion brand Gucci will begin accepting cryptocurrency in some of its US locations later this month. According to Vogue Business, in-store payments can be made using a QR code that customers can scan with their crypto wallet, sent by Gucci via email. The stores will accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu. 

Coinbase rolls out NFT marketplace in beta

Coinbase (COIN) announced that the beta version of its non-fungible token (NFT) marketplace is now available to all. The NFT marketplace focuses on creating a social community for buyers and sellers. The platform allows users to create a profile and curate it with NFTs they have created, comment on NFTs, or start conversations with other NFT holders and sellers. 

France gives approval to Binance to run crypto exchange

France’s market regulator AMF has registered Binance France as a “digital asset service provider” (DASP). It has become the first major European country to explicitly allow Binance to operate within the country’s jurisdiction. Moreover, Binance becomes the first major crypto exchange to be licensed as a DASP within France.

Categories
Market News Top Crypto News

US SEC Ramps Up Crypto Fraud Oversight – Top Crypto News

US SEC ramps up crypto fraud oversight by adding 20 employees

The US Securities & Exchange Commission (SEC) will add 20 positions to its enforcement unit for crypto markets in its push to curb fraudulent activities. The division will be renamed the “Crypto Assets and Cyber Unit” and will have a total of 50 employees. The revamped unit will focus on preventing fraud that uses crypto-asset offerings, exchanges, lending & staking products, DeFi platforms, non-fungible tokens, and stablecoins. 

Crypto prices today: Bitcoin down 0.3%, ETH falls 1%

Bitcoin is currently trading at $38,386.1 a 0.29% decline over the previous day. Ethereum is down 0.99% over the last 24 hours to $2,813.33. Solana fell 1.8% to $86.81, while Cardano is trading lower by 0.78% at $0.783. Avalanche (AVAX) fell 2.4% to $60.41. The global crypto market cap stands at $1.73 trillion, a 0.53% decline over the previous day.

Hawaii to approve task force to examine Bitcoin, Web3 technology

The Hawaii State Senate today approved bill SB2695 that establishes a blockchain and crypto task force. The bill aims to see how the state can regulate, provide oversight, and potentially use blockchain tech and crypto. The task force will include both government officials and members of the Web3 space, plus professors from the University of Hawaii that specialize in digital currency.

Reward points, e-vouchers out of crypto tax net

India will provide a specific exclusion for e-vouchers, points earned on cards on shopping and payments, and other such digital reward assets from the proposed tax on virtual digital assets (VDAs). The government is working on a set of rules that would be notified soon. VDAs are information, code, number, or token not being Indian or foreign currency, generated by cryptographic means or otherwise.

As per reports, the tax department could also levy 20% TDS on interest earned on cryptocurrencies from foreign platforms.

El Salvador’s debt risk looms as Bitcoin Bond has yet to launch

El Salvador is the first nation to experiment with Bitcoin as a national currency. However, it has an $880 million bond due in January, according to Moody’s. Unfortunately, since the nation’s highly anticipated “Bitcoin Bond” has yet to reach the market, it may have some trouble paying that debt. The government is yet to introduce legislation necessary for the bond to move forward.

Categories
Market News Top Crypto News

Argentina’s Largest Private Bank to Offer Bitcoin Trading – Top Crypto News

Argentina’s largest private bank to offer Bitcoin, Ethereum trading

Buenos Aires-based Banco Galicia will make four cryptocurrencies available to customers—Bitcoin, Ethereum, USD Coin, and XRP. It has launched a new and innovative service for its customers, offering the purchase, sale, and custody of crypto in a simple, secure manner. Banco Galicia is the largest private bank in Argentina.

Crypto prices today: Bitcoin down 1.2%, ETH falls 0.5%

Bitcoin is currently trading at $38,511.6 a 1.22% decline over the previous day. Ethereum is down 0.58% over the last 24 hours to $2,841.94. Solana fell 2% to $88.41, while Cardano is trading lower by 0.54% at $0.788. Avalanche (AVAX) rose 2.19% to $61.33. The global crypto market cap stands at $1.74 trillion, a 0.85% decline over the previous day.

ApeCoin tanks after chaos surrounding Bored Ape Yacht Club creator’s metaverse NFT land sale

ApeCoin, the crypto tied to the popular Bored Ape Yacht Club NFT ecosystem, fell nearly 13% over the last 24 hours. Recently, Yuga Labs (the company behind the Bored Ape NFTs) made $350 million by selling “Otherdeeds” Ethereum-based, virtual land deed NFTs for its highly-anticipated metaverse project, “Otherside”. However, Ethereum became congested with transactions, and the blockchain was unusable for hours. A record amount of Ether was also permanently destroyed.

Crypto.com restarts staking rewards

Crypto.com CEO Kris Marszalek said the firm would continue to offer staking rewards to its card users a day eliminating the reward program. The decision had led to a backlash among community members on social media sites like Reddit and Twitter. However, the company backtracked on its decision to fully end staking rewards, where card users locked up CRO for 180 days to earn yields.

Categories
Market News Top Crypto News

Wikipedia to Stop Accepting Crypto Donations – Top Crypto News

Wikipedia to stop accepting crypto donations

Wikimedia Foundation announced that it will no longer accept crypto donations on environmental grounds. The decision was made based on a community request, which came out of a three-month-long discussion that wrapped up in April. A total of 232 users, accounting for 71.17% of the total vote, voted in support of the proposal. Wikimedia is the company behind the free web-based encyclopedia Wikipedia.

Crypto prices today: Bitcoin down 1.5%, ETH falls 1.7%

Bitcoin is currently trading at $38,992.7 a 2.7% increase over the previous day. Ethereum is up 3% over the last 24 hours to $2,858.92. Solana rose 1.51% to $90.29, while Cardano is trading higher by 3% at $0.792. Terra (LUNA) rose 3.5% to $83. The global crypto market cap stands at $1.75 trillion, a 2.49% increase over the previous day.

Bored Ape NFT company raises $285 million of crypto in virtual land sale

US-based Yuga Labs has raised ~$285 million worth of crypto by selling tokens that represent land in a virtual world game it says it is building. Last year, the company created the Bored Ape Yacht Club NFTs. They are blockchain-based tokens representing a set of 10,000 computer-generated cartoon apes. Yuga Labs has now set its sights on the Metaverse.

Solana crash blamed on bots swarming Candy Machine

Solana went dark for nearly 7 hours on Saturday after bots appear to have swarmed Candy Machine, an NFT minting tool. The bots reportedly submitted more than 4 million transactions a second, generating more than 100 gigabits per second (Gbps) of traffic that crashed the network.

India includes crypto businesses in new rules for cyber security

The Computer Emergency Response Team (CERT) has been named India’s national agency for cyber security, including the crypto industry. The agency has the authority over suspicious or illicit activities in the crypto sector. The move requires crypto businesses to keep know-your-customer (KYC) information and records of financial transactions for five years. This will ensure cyber security in the area of payments and financial markets for citizens.

Categories
Market News Top Crypto News

Panama Passes Law to Regulate Bitcoin – Top Crypto News

Panama passes law to regulate Bitcoin

 Panama’s legislature approved a bill to regulate the use of cryptocurrencies in the country. The crypto law states that it “regulates the trading and use of crypto-assets, the issuance of digital value, tokenization of precious metals and other assets, payment systems and other provisions.” The country’s citizens will be able to buy everyday goods with crypto.

Crypto prices today: Bitcoin down 1.5%, ETH falls 1.7%

Bitcoin is currently trading at $39,170.7 a 1.5% decline over the previous day. Ethereum is down 1.7% over the last 24 hours to $2,884.63. Solana fell 3.82% to $96.52, while Cardano is trading lower by 3.2% at $0.822. Terra (LUNA) fell 6.10% to $86.11. The global crypto market cap stands at $1.79 trillion, a 1.65% decline over the previous day.

Telegram users can now send crypto via the messaging app

The Open Network (TON), a decentralized blockchain initially designed by Telegram, is adding a bot that lets more than 550 million users send crypto to other users via chat. The initial rollout of the “wallet” bot will allow users to send and receive Toncoins, which the developers claim will come with no transaction fees.

Goldman Sachs makes its first Bitcoin-backed loan

Goldman Sachs has offered its first Bitcoin-backed loan. It has a secured lending facility that allows a borrower to use Bitcoin (BTC) as collateral for a cash loan. Goldman’s dedicated digital assets team traded its first over-the-counter Bitcoin options to Galaxy Digital last month.

Categories
Market News Top Crypto News

India Aims to Roll Out Digital Currency by Next Year – Top Crypto News

India aims to roll out digital currency by next year: Finance Minister

Finance Minister Nirmala Sitharaman said India aims to introduce digital currency by 2023. “The government and RBI are looking into its several commercial use purposes and not just financial inclusion, which is largely achieved through the JAM trinity (Jan Dhan-Aadhaar-Mobile),” she said. The minister also said India will take a considerate decision on regulation around virtual currencies.

Crypto prices today: Bitcoin rises 1.9%, ETH up 0.5%

Bitcoin is currently trading at $39,379.2 a 1.94% increase over the previous day. Ethereum is up 0.5% over the last 24 hours to $2,884.92. Solana rose 0.7% to $99.18, while Cardano is trading lower by 0.61% at $0.836. Avalanche (AVAX) fell 0.96% to $69.48. The global crypto market cap stands at $1.80 trillion, a 1.12% increase over the previous day.

Coinbase lists competitor Binance’s stablecoin BUSD

Coinbase has listed Binance USD (BUSD), the crypto exchange’s U.S. dollar-backed stablecoin, for trading on the Ethereum network. That makes it the eighth stablecoin to be offered by Coinbase. The main stablecoins listed on Coinbase include Tether (USDT), USD Coin (USDC), TerraUSD (UST), Dai (DAI), Paxos Standard (PAX), Rai Reflex Index (RAI), and mStable USD (MUSD).

BlackRock launches its first crypto-exposed ETF

BlackRock has listed its iShares exchange-traded fund (ETF) to allow investors to gain exposure to the crypto market. The iShares ETF seeks to track the investment results of an index composed of US and non-US companies involved in the development, innovation, and utilization of blockchain and crypto technologies. BlackRock is the world’s largest asset manager.

Goldman Sachs to explore tokenization of real assets

Goldman Sachs is examining non-fungible tokens (NFTs) and particularly the tokenization of real assets. The Metaverse, where real-world assets like real estate are bought and sold as NFTs, has caught the attention of big names in financial services and a range of other industries.

Categories
Market News Top Crypto News

Brazil Passes Bill to Regulate Crypto – Top Crypto News

Brazil passes bill to regulate crypto

The Brazillian Senate has passed a bill to regulate cryptocurrencies in the country. As per the system proposed by the Senate, crypto legislation would be the responsibility of the executive branch of the government. The branch will have the option of creating a new regulator for crypto or delegating jurisdiction to the Securities and Exchange Commission (CVM) or the Brazilian Central Bank (BC).

Crypto prices today: Bitcoin falls 4.3%, ETH down 4%

Bitcoin is currently trading at $38,744.2 a 4.3% decline over the previous day. Ethereum is down 4.1% over the last 24 hours to $2,874.5. Solana fell 2% to $98.7, while Cardano is trading lower by 4.8% at $0.846. Terra (LUNA) fell 6.5% to $90.03. The global crypto market cap stands at $1.79 trillion, a 3.8% decline over the previous day.

Revolut eyes expansion into mortgages, crypto wallets

Digital banking platform Revolut is working on expanding into decentralised crypto wallets and is also looking at the mortgage sector. The UK-based company is pushing ahead with its strategy to become a so-called “superapp”. Revolut, which currently offers payments services, crypto trading, savings accounts, and stock trading, plans to launch a buy now, pay later product. 

Buenos Aires to allow residents to make tax payments with crypto

Argentina’s capital Buenos Aires will allow the payment of taxes using cryptocurrencies. Payments made in crypto will be converted to the local fiat currency (the Argentinian Peso) before being deposited to the tax agency. This initiative is part of the city’s digitization push to broaden the access of citizens to documents and government services.

Bitcoin struggling to take off in El Salvador: Report

Last year, El Salvador became the first country to make Bitcoin a legal tender. However, a new report by the National Bureau of Economic Research says that not many citizens are using the digital asset. Many Salvadorans have stopped using the government’s Bitcoin wallet known as Chivo. Only a tiny fraction reported using it for remittances, taxes, and daily purchases.  

Categories
Market News Top Crypto News

SEC Adds ‘Misleading’ Crypto Firms to Public Alert List – Top Crypto News

SEC adds ‘misleading’ crypto firms to public alert list

The US Securities & Exchange Commission (SEC) has added “misleading” crypto trading firms to its list of unregistered entities. The SEC launched the Public Alert: Unregistered Soliciting Entities list in 2007. It now includes “SuperBinance” and “Superfxtrading,” which takes advantage of investors confusing them with Binance and FTX. There’s also a “Gemini M&A” impersonating the Goldman Sachs mergers & acquisition deal-making app, Gemini.

Crypto prices today: Bitcoin rises 5.2%, ETH up 6.5%

Bitcoin is currently trading at $40,468.76, a 5.2% increase over the previous day. Ethereum is up 6.5% over the last 24 hours to $2,992.46. Solana rose 5.64% to $100.58, while Cardano is trading higher by 5.8% at $0.887. Terra (LUNA) jumped 9.15% to $96. The global crypto market cap stands at $1.86 trillion, a 3.83% increase over the previous day.

NFL releases 2022 Draft ‘Virtual Ticket’ NFTs on Flow

The National Football League (NFL) has released Draft-themed NFT collectibles minted on Flow. Each of the league’s 32 teams is offering 52 NFTs that sell for $52 each. Each NFT is dubbed a “virtual commemorative ticket” for the NFL Draft. However, it does not serve as an actual access pass to the live event in Las Vegas. 

Abu Dhabi licenses Kraken to operate crypto exchange

Abu Dhabi Global Market (ADGM) has licensed the Kraken Group to operate a regulated virtual asset exchange platform in the financial-free zone. Kraken is the first global virtual assets exchange group in the United Arab Emirates to receive a full financial license from the ADGM. The Kraken MENA (Middle East & North Africa) aims to provide access to virtual assets through regulated funding, trading, and custodial services in dirhams. 

Central African Republic passes bill legalizing use of crypto

The Central African Republic has passed a law to accept Bitcoin as legal tender. As per reports, the law was unanimously supported by the National Assembly to assist the country’s economic recovery and peacebuilding efforts. However, experts still believe Bitcoin and other cryptos are too volatile to function as legal tender in modern economies.

Categories
Market News Top Crypto News

Twitter, Stripe Roll Out Crypto Payments for Creators – Top Crypto News

Bitcoin on a stack of coins with Twitter logo on a laptop screen. SLOVENIA, LJUBLJANA - 24 02 2019:

Twitter, Stripe roll out crypto payments for creators

Twitter has partnered with financial infrastructure platform Stripe to launch a pilot payout for creators. Stripe will initially release payouts using USD Coin (USDC), a stable coin pegged to the US dollar. Twitter will use this feature to pay out earnings from Ticketed Spaces and Super Follows. Payments will occur via the Polygon (MATIC) network, a layer-2 blockchain known for its low fees, fast transaction speed, innovative zero-knowledge technology, and integration with Ethereum.

Crypto prices today: Bitcoin falls 3.2%, ETH down 4.7%

Bitcoin is currently trading at $38,500.93, a 3.2% decline over the previous day. Ethereum is down 4.74% over the last 24 hours to $2,814.74. Solana fell 6.3% to $95.27, while Cardano is trading lower by 6.65% at $0.837. Polkadot (DOT) crashed nearly 9% to $17.22. The global crypto market cap stands at $1.77 trillion, a 4.15% decline over the previous day.

Grayscale renews push with SEC for Bitcoin Spot ETF

Grayscale has renewed a months-long push to persuade the Securities and Exchange Commission to approve the conversion of its $40 billion Bitcoin Trust into an exchange-traded fund (ETF). Though the SEC has approved four Bitcoin futures ETFs so far, it has not approved a single Bitcoin spot ETF.

US bank regulator accuses crypto bank of compliance issues

The Office of the Comptroller of the Currency (OCC) in the US plans to start cease & desist proceedings against Anchorage Digital Bank National Association (ADBNA). The crypto bank failed to adopt a compliance program that meets the requirements of the Bank Secrecy Act and anti-money laundering rules.

Crypto trading volumes in Indian exchanges drop after new tax rules

The trading volumes on major Indian crypto exchanges has declined following the adoption of the new tax law. The volumes of four Indian exchanges— WazirX, ZebPay, CoinDCX, and BitBns— were compiled using data from CoinMarketCap and Nomics. Trading volumes in WazirX was down 72%, ZebPay down 59%, CoinDCX down 52%, and BitBns down 41%.

Categories
Market News Top Crypto News

Binance Recovers $5.8M Linked to Axie Infinity Hack – Top Crypto News

Binance recovers $5.8M linked to Axie Infinity hack

Crypto exchange Binance has recovered $5.8 million worth of stolen funds originating from an unprecedented Axie Infinity exploit in March. The hackers distributed the funds over 86 accounts. The massive $625 million exploit was tied by US security officials to North Korea’s “Lazarus” hacker group.

Crypto prices today: Bitcoin falls 3.2%, ETH down 2.9%

Bitcoin is currently trading at $40,537.1, a 3.23% decline over the previous day. Ethereum is down 2.9% over the last 24 hours to $2,994.9. Solana fell 4.3% to $101.69, while Cardano is trading lower by 3.43% at $0.911. Polkadot (DOT) fell 4.87% to $18.22. The global crypto market cap stands at $1.88 trillion, a 2.59% decline over the previous day.

Bitcoin firm Crusoe Energy raises $505M to grow flare-gas mining biz

Crusoe Energy Systems has raised $350 million in a Series C round led by G2 Venture Partners. It has also secured up to $155 million in credit from SVB Capital, Sparkfund, and Generate Capital. The US-based firm converts natural gas that would otherwise go to waste into power for Bitcoin mining.

India needs a single crypto regulator, says Polygon Co-Founder

India needs a single regulator to oversee all crypto-related matters, said Sandeep Nailwal, co-founder of Ethereum-scaling tool Polygon. He said the creation of a collective authority composed of representatives from the Reserve Bank of India, Securities & Exchange Board of India (SEBI), the Goods & Services Tax Council (GS), and the Finance Ministry would encourage projects like his own to set up shop in the country.

Solana-based climate change project employs ‘NFTrees’ to save rainforests

GainForest has partnered with the Environmental Ministry of Paraguay (MADES) to protect thousands of hectares of forest in Gran Chaco Americano. It is one of the most vulnerable areas to climate change, and one of the planet’s main carbon sinks. Those who provide donations to the project receive data drops and wildlife camera pictures connected to indigenous tribes, all in the form of non-fungible tokens, dubbed “NFTrees.”

Switzerland currently has the most profitable Bitcoin traders worldwide: Report

A study by online investing news and education platform Invezz revealed that Switzerland currently has the most profitable Bitcoin traders in the world. The country has the highest gains per investor at $1,268. However, only 1.8% of the country is invested in crypto. India was ranked 4th for the percentage of the population investing in crypto.

Categories
Market News Top Crypto News

US Govt Sanctions Russian Bitcoin Miner – Top Crypto News

US Government sanctions Russian Bitcoin miner BitRiver

The US Government has sanctioned a Russian Bitcoin miner. The Treasury Department’s Office of Foreign Asset Control has added Moscow-based BitRiver to its Specially Designated Nationals list. Ten Russia-based subsidiaries of BitRiver AG (BitRiver’s Switzerland-based holding company) were also added to the list. It is the first time the US has sanctioned a crypto mining company.

Crypto prices today: Bitcoin up 0.4%, ETH down 0.5%

Bitcoin is currently trading at $41,582.4, a 0.44% increase over the previous day. Ethereum is down 0.5% over the last 24 hours to $3,083.31. Solana fell 1.4% to $106.32, while Cardano is trading lower by 0.5% at $0.94. XRP fell 2.5% to $0.747. The global crypto market cap stands at $1.92 trillion, a 0.32% decline over the previous day.

Cricket NFT platform Rario raises $120 million in funding

Cricket non-fungible tokens (NFTs) platform Rario has raised $120 million in funding led by Dream Capital. The startup also counts Animoca Brands, Presight Capital, and Kingsway Capital as its investors. Dream Capital is the corporate venture capital arm of Dream Sports. This marks the first bet by the Dream11 parent company in the Web3 space.

Germany’s Commerzbank applies for local crypto licence: Report

Germany’s Commerzbank (CBK) reportedly applied for a crypto licence earlier this year. The application is to get authorization to offer exchange services along with custody and protection of crypto-assets. This move would make CBK the first major bank in Germany to move towards crypto adoption.

Mudrex becomes world’s largest crypto index investing platform

Global crypto asset management platform Mudrex witnessed a massive 2,400% surge in its platform’s user base in the first quarter of 2022. It has become the world’s largest crypto index investing platform. Interestingly, Indian users contributed the most to this exponential growth, with more than 80% of the increase coming from the country.

Coinbase NFT Beta goes live with no transaction fees

Crypto exchange Coinbase has announced the launch of its Web3 NFT Marketplace, Coinbase NFT. The company has begun with the beta version first, where only a handful of features will be available for the users. Beta users can buy and sell a wide range of NFT collections at zero transaction fees (for a limited period).

Categories
Market News Top Crypto News

EU Crypto Firms Protest Anti-Money Laundering Laws – Top Crypto News

EU crypto firms protest ‘alarming’ anti-money laundering laws

The crypto sector has written to European Union finance ministers and lawmakers to urge a rethinking of anti-money laundering rules the industry regards as “alarming.” The letter says current proposals to identify crypto users (known as the travel rule) endanger privacy and innovation in the EU. It will lead to the public disclosure of all transactions and digital asset wallet addresses, putting every digital asset owner at risk.

Crypto prices today: Bitcoin, ETH up 1.9%

Bitcoin is currently trading at $41,518.7, a 1.94% increase over the previous day. Ethereum is up 1.94% over the last 24 hours to $3,107.2. Solana rose 6.24% to $108.36, while Cardano is trading higher by 2.16% at $0.95. Terra (LUNA) has surged 6.81% to $95.2. The global crypto market cap stands at $1.93 trillion, a 2% increase over the previous day.

Robinhood Markets to acquire crypto app Ziglu

US-based financial services firm Robinhood Markets Inc. has signed a deal to acquire Ziglu Limited, a UK-based electronic money institution and crypto-asset firm. Ziglu will be integrated into Robinhood. The acquisition will help boost Robinhood’s expansion plans in the UK and Europe.

Indian Web3 startups flock to Dubai amid regulatory uncertainty, stiff taxes

Amidst regulatory uncertainties and the introduction of the crypto tax regime by the Indian government, many crypto and Web3 startups have moved base to Dubai. The emirate is gearing up to become the crypto capital of the world. Dubai has been fostering the expansion of the crypto sector by building a regulatory framework to attract crypto firms and expertise as regional economic competition heats up. 

NBA announces ‘dynamic’ Ethereum NFTs for Playoffs

The National Basketball Association (NBA) will begin minting its upcoming Ethereum NFT collection of 18,000 assets called The Association today. Each Association NFT represents a real NBA player in this year’s playoffs. There will be 75 NFTs of each player from the 16 different NBA teams participating.