South Korea’s top financial regulator, the Financial Services Commission, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid fraud allegations. The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities and fraudulent collective accounts, local news agency The Korea Herald reported Sunday.
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Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson,
Bitcoin (BTC) might have suffered its largest coordinated attack over the last couple of months, but in this instance, the investor community did not capitulate. China outright banning mining in most regions after giving BTC miners a two-week notice and this caused the single largest mining difficulty adjustment after the network hash rate dropped 50%. The market
Riccardo Spagni, the former maintainer of the Monero (XMR) cryptocurrency, was arrested last month in Nashville, Tennessee on fraud charges tied to alleged offenses in South Africa between 2009 and 2011. Spagni was on board a private jet scheduled to fly to Los Cabos, Mexico when he was apprehended in Nashville during a scheduled refueling
As decentralized exchanges now represent a significant amount of crypto trading volume, it is vivid that these platforms will play a big role in the smart economy of the future. Automated market makers, in particular, changed the game by eliminating the need for order books entirely and replacing them with liquidity pools. This model was
Today, we’re excited to announce our investment in Mintable, an NFT marketplace that allows users to seamlessly create, buy, and sell digital items using fiat or cryptocurrency. As tokenization launches into the mainstream, we believe the ability to digitally sign an asset, sell it on a blockchain, and receive real income from its subsequent sales
The lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission, or SEC, now involves major crypto exchange Binance after a recent filing on behalf of Ripple CEO Brad Garlinghouse. According to court documents filed in the Southern District of New York on Monday, Garlinghouse’s legal team has requested documents “relevant to the case
Bitcoin (BTC) dropped back below $39,000 on Aug. 2, suggesting that short-term traders were booking profits after the price failed to close above $42,451.67. However, lower levels could again attract buying as seen in late July. Data from Santiment showed that Bitcoin held on wallet addresses storing between 100 and 10,000 Bitcoin rose to a
Regional reports from China indicate that government officials have been reviewing over 5,100 small-sized hydropower plants in order to get them to adapt to China’s cleanup and rectification process concerning future energy sources. China has pledged to be carbon neutral and ultimately have zero carbon emissions by 2060 and the recent crackdowns on bitcoin miners
While Bitcoin’s (BTC) price has slipped by more than 8.2% after rising to $42,230, the 43.5% rally included 10 consecutive days of gains. But despite BTC currently trading at around $39,700 as of Aug. 2, some analysts anticipate that it can rise by another 100%. Nunya Bizniz, an independent market analyst, posted the bullish setup
Ethereum’s native asset Ether (ETH) dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion. In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging
Nonfungible tokens, or NFTs, are known by the mainstream as digital assets that represent real-world objects such as art, music and fashion, among others. Yet, while most of the world may be enamored by the high selling prices of NFTs launched by celebrities, athletes and other famous individuals, nonfungible tokens are starting to pique the
Established in 2013, the firm Grayscale Investments has managed to become the world’s largest asset manager for digital currency. While initially starting with bitcoin, the company has since added a myriad of different crypto assets as Grayscale commands $36.34 billion in assets under management (AUM) between 13 different digital currencies. While the asset manager has
Jack Dorsey’s cryptocurrency-friendly digital payments firm Square is expanding competition with global payment giants like PayPal by acquiring a major Australian lending company. Square announced Sunday that the firm has entered into a scheme implementation deed to acquire all of the issued shares in fintech company Afterpay in a $29 billion deal. The transaction is
Nigerian cryptocurrency adoption continues to rise in spite of government crackdown, with peer-to-peer (P2P) trade volume for Bitcoin posting its second strongest week on record last month. According to data from Google Trends, Nigeria still ranks number by search interest for the keyword “Bitcoin” as of this writing. P2P Bitcoin trading denominated in the Nigerian
Bank of America, one of the nation’s largest financial institutions based on total assets, believes El Salvador could have a lot to gain with its latest foray into Bitcoin (BTC). In a report published last week, analysts at the bank said El Salvador’s decision to recognize BTC as legal tender could streamline remittances, promote financial
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