paraguay Archives

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.

Crypto players in talks to create new blockchain council

Indian crypto exchanges and blockchain firms are in preliminary talks to build a new independent think tank to address concerns within the sector. They aim to bring together a mix of industry players, academia, research scholars, and influential people within the Web3 ecosystem. Last week, the Internet & Mobile Association of India (IAMAI) dissolved the Blockchain and Crypto Assets Council (BACC) over an ‘uncertain regulatory environment’.

Crypto prices today: Bitcoin up 2%, ETH rises 1.8%

Bitcoin is currently trading at $22,234.91, an increase of 1.96% over the previous day. Ethereum rose 1.8% over the last 24 hours to $1,455.55. Solana rose 1% to $42.13, while Cardano is trading higher by 0.4% at $0.473. Avalanche (AVAX) rose 1.13% to $23.54. The global crypto market cap stands at $1.01 trillion, a 3.35% increase over the previous day.

Yuga Labs opens Otherside for ‘First Trips’ in Bored Ape Metaverse

Yuga Labs’ Otherside invited 4,300 players (also called “Voyagers”) for a first-look tech demo and tour of the immersive, ape avatar-navigated online platform. All Otherside players have to embark on or view one of these “First Trips” to participate in the game. Otherside is a Bored Ape Yacht Club-fueled metaverse or blockchain virtual world that is made up of 200,000 plots of virtual land.

Paraguayan Senate passes bill regulating crypto mining, trading

Paraguay’s Senate has approved a bill regulating crypto mining and trading. The country’s Secretariat for the Prevention of Money or Asset Laundering will supervise the whole investment process carried out by crypto companies. Individual and corporate miners must request industrial electricity consumption authorization and then apply for a license.

RBI seeks ban on cryptos but India needs global support to make that effective: FM Sitharaman

The Reserve Bank of India (RBI) has recommended to the government that it should frame regulations for cryptocurrencies and prohibit them. The central bank has argued that crypto has a destabilising effect on the monetary and fiscal stability of a country. However, the government is of the view that a “global collaboration” is needed for any effective regulation or ban, said Finance Minister Nirmala Sitharaman.