Tag: crypto regulation

Categories
Market News Top 10 News

India Finalizing a Crypto Consultation Paper – Top Crypto News

India is finalizing a crypto consultation paper: Govt. official

Economic Affairs Secretary Ajay Seth said a consultation paper on crypto is “fairly ready”. He was speaking at an event organized by the Finance Ministry. Seth has called for a global consensus on crypto regulation. The paper is a result of consultation from various domestic and international players, including the World Bank and the International Monetary Fund. 

The crypto industry in India has been struggling to cope with unclear rules and market volatility. Even payment processors are cutting off exchanges.

Crypto prices today: Bitcoin rises 3%, ETH up 3.5%

Bitcoin is currently trading at $31,537.8, a 3% increase over the previous day. Ethereum rose 3.6% over the last 24 hours to $1,970.87. Solana fell 1% to $46.21, while Cardano jumped 26.9% at $0.659. Avalanche (AVAX) fell 3.6% to $26.6. The global crypto market cap stands at $1.31 trillion, a 2.7% increase over the previous day.

South Korean authorities launch probe into Terra crash: Report

As per a report by JTBC (local TV network), South Korean prosecutors are looking into the recent Terra crash to see if there were signs of intentional price manipulation and other issues. The Seoul Southern District Prosecutors’ Office’s joint financial and securities crime investigation team has summoned former employees of Terraform Labs who were involved in the initial development of the Terra ecosystem in 2019.

Prada to launch 100 Ethereum NFTs

Luxury brand Prada will be launching 100 Ethereum NFTs on June 2nd as part of its latest Timecapsule apparel release. Buyers will receive a free airdropped NFT to go along with their physical merch purchase from Prada’s latest collaboration with artist Cassius Hirst.

Russia to consider using crypto for international payments

As per a report from Interfax, Russia is considering allowing crypto to be used for international payments. The move could allow the country to counter the sanctions implemented by western countries as a consequence of its invasion of Ukraine. However, Russia’s Central Bank and Finance Ministry are yet to reach a consensus on crypto regulation.

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

UK Aims to Become ‘Crypto Asset Tech Hub’ – Top Crypto News

uk reports slow growth

UK Govt lays out plans to become ‘crypto asset technology hub’

The United Kingdom has announced plans to become a “global crypto asset technology hub.” The country’s Finance Ministry will create legislation to bring certain stablecoins into the regulatory framework. The government acknowledged that certain stablecoins have the potential to become a widespread means of payment, including by retail customers. Stablecoins are cryptos whose value is pegged to that of fiat currencies like the US Dollar, Euro, and UK Pound.

Crypto prices today: Bitcoin rises 1%, ETH up 0.5%

Bitcoin is currently trading at $46,585.62, a 1% increase over the previous day. Ethereum is up 0.54% over the last 24 hours to $3,516.2. Solana fell 2.6% to $132.28, while Cardano is trading lower by 2.08% at $1.20. Polygon (MATIC) fell 2.16% to $1.64. The global crypto market cap stands at $2.16 trillion, a 0.29% increase over the previous day.

Intel launches new Bitcoin mining chips focused on sustainability

Intel launched its “Intel Blockscale ASIC,” a second-generation Bitcoin mining chip. The chip features a 580 GH/s (gigahashes per second) hash rate, while consuming just 26 J/TH (joules per terahash), making it much more efficient. Hash rate measures how quickly a miner can generate answers to Bitcoin’s next block. Joules per terahash measure how much energy is consumed to produce every terahash.

Gensler wants SEC and CFTC to regulate crypto exchanges together

US Securities & Exchange Commission (SEC) Chair Gary Gensler has asked his staff to coordinate with the Commodity Futures Trading Commission (CFTC) to find ways to regulate platforms that facilitate the trading of both securities and non-securities. A joint SEC-CFTC registration and regulation process could eliminate some confusion by giving exchanges a single regulatory authority to turn to.

Crypto billionaire plans to give away 99% of his fortunes

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, plans to give away the vast majority of his wealth. According to Bloomberg, the 30-year-old drives a Toyota Corolla, lives like a college student, and has a goal of making as much money as possible so that he will have more to give away. The MIT grad learned effective altruism in 2012. The philosophy uses mathematical calculations to determine how people could do the most good with their money and time.