While Islamic scholars have long wrestled with the question of whether cryptocurrency is halal, what if it’s really fiat that isn’t permissible? Islam has strict rules around finance, and it historically defines currency as commodities with intrinsic value — gold, silver, or salt, among others. Waseem Mamlouk, from the DeFi platform Nimbus, argues that government-issued …
Continue reading “DeFi can be halal but not DOGE? Decentralizing Islamic finance”
Stablecoin usage lost steam amid the recent crypto market downturn. From peaking at nearly $2 billion on May 19, the daily transaction volume has fallen off its 2021 average by about 60%. The significant drop begs the question about stablecoin activity in the current market environment. Unsurprisingly, the two cryptocurrencies that remain in a tight …
Continue reading “Cointelegraph Consulting: Stablecoin activity drops after May peak”
Binance’s highly popular stock tokens, a relatively recent offering, are being wound down immediately. In an announcement published on Friday, the exchange announced that “effective immediately,” stock tokens are unavailable for purchase on Binance.com. As of October 14, 2021, at 7:55 pm UTC, the exchange will no longer support stock tokens at all. Existing stock …
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Brian Armstrong, co-founder and CEO of Nasdaq-listed cryptocurrency exchange Coinbase, took to Twitter to respond to a recent attack on crypto by Dogecoin (DOGE) co-creator Jackson Palmer. In a Twitter thread on Thursday, Armstrong pointed out some of the biggest benefits of cryptocurrencies like Bitcoin (BTC), stressing that crypto is “simply providing an alternative for …
Continue reading “Crypto offers more freedom, Coinbase CEO responds to DOGE creator”
Japan is strengthening its efforts to regulate digital currencies on a global scale, with related government authorities reportedly looking to expand staff to impose stricter rules. Japanese regulators have expressed fresh concerns over the massive growth of the cryptocurrency market, particularly cautioning against stablecoins, Reuters reported on Friday. Tokyo is willing to engage with global financial …
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Much attention has been paid to the global, geopolitical implications of China’s rapid and pioneering development of its digital yuan, also provisionally known as e-CNY. Yet in a new white paper published by the Working Group on E-CNY Research and Development of the People’s Bank of China (PBoC), the institution gave a more domestic-focused and …
Continue reading “China’s central bank says crypto gave impetus to the creation of its CBDC”
High-profile crypto trader and analyst Michaël van de Poppe is charting Axie Infinity’s (AXS) path ahead, after the gaming asset skyrocketed over the past 30 days. Axie Infinity’s governance token AXS grew in price by over 800% in the past month, according to CoinGecko, as the blockchain-based trading and battling game became the the highest-grossing decentralized …
Coinbase continues to support new crypto projects at a rapid rate, with the addition of Clover Finance (CLV) on Coinbase Pro. Clover Finance is a blockchain operating system designed to bridge assets on various blockchains, making it easier to transact. The CLV token pays for transactions and enables votes for upgrades. ADVERTISEMENT Coinbase is …
Continue reading “Coinbase Adds Supports for New Crypto Project As Listing Spree Continues”
United States’ city of Jackson, Tennessee, continues exploring a potential dive into cryptocurrencies, now looking to accept Bitcoin (BTC) for property tax payments. Jackson Mayor Scott Conger announced late Thursday that the city’s blockchain task force had launched a study on potential methods to accept property tax payments in Bitcoin in the city. The blockchain …
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Argentina’s top pro-soccer league is getting a rebrand after it secured a new sponsorship deal with Chiliz, the creators of fan tokens and the Socios.com blockchain rewards app. According to a July 15 announcement from Socios, the partnership with the Argentina Football Association (AFA) will see the Primera Division renamed as the Torneo Socios.com for the …
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MicroStrategy CEO Michael Saylor thinks that Bitcoin is more like digital property than digital currency. He was speaking on the July 15 edition of the “Coin Stories” podcast with host Natalie Brunell. Asked if he thought that Bitcoin was a threat to the U.S. dollar Saylor replied: “I would call it a digital property, it’s …
Continue reading “Michael Saylor doesn’t think Bitcoin is ‘going to be currency in the US ever’”
The Crazy Horse 3 gentlemen’s club has announced it has become the first major entertainment venue in Las Vegas to accept Bitcoin using the Lightning Network. The nightspot will implement the layer two Bitcoin scaling solution enabling punters to make payments in a flash. It has integrated BTC payment processor OpenNode which will initially allow …
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Digital asset-focused Swiss Bank, Sygnum, has teamed up with art investment firm Artemundi to offer fractionalized ownership shares in a Pablo Picasso painting for $6,000 each. Shares representing ownership over $3.68 million Picasso painting, “Fillette au béret,” will be tokenized and issued via blockchain technology, allowing a wide variety of investors to gain exposure to …
Continue reading “Master-pieces: Swiss bank issuing NFT shares in Picasso painting for $6K each”
San-Francisco-based fintech firm Ripple has notched up another small victory in its ongoing battle with the U.S. Securities and Exchange Commission. U.S. District Court Judge Sarah Netburn has denied the SEC’s motion to suppress the deposition of the former director of the SEC’s Division of Corporation Finance, William Hinman, in a ruling in New York …
Continue reading “Judge allows Ripple to depose SEC official who decided ETH is not a security”
Popular cross-chain decentralized exchange, ThorChain, has suffered a multimillion-dollar breach. Estimates as to the scale of the damage vary, with ThorChain revising the initial estimate that 13,000 ETH (worth $25.1 million) had been stolen down to 4,000 ETH (roughly $7.6 million) as a ballpark for damages. At this stage the estimate is around ~4000 ETH …
