As one of the top cryptocurrency exchanges continues adapting to the regulatory landscape by tailoring its services and enforcing tougher know-your-customer policies (KYC), Binance’s founder and CEO Changpeng Zhao told Reuters he is prepared to step down and pass control to a leader with a robust set of skills, better fitting the current climate. Binance …
Continue reading “End of an era? Binance’s CZ to possibly step down amidst regulatory tensions”
U.S. Senator Sherrod Brown says cryptocurrencies are not real dollars and they “put Americans’ hard-earned money at risk.” Referring to decentralized finance (defi) as “a shady, diffuse network of online funny money,” he said, “if we want a solution to Americans’ legitimate fears about our banking system, shady start-ups are not the answer.” Senator Brown’s …
Continue reading “US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk”
In mid-May, the co-founder of Ethereum, Vitalik Buterin, donated $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund (CCRF). Close to three months later, the CCRF organizers say they have been having issues cashing out the SHIB tokens and so far, only $20 million has been paid out. It’s Not …
sponsored Dvision Network has emerged as one of the fastest-growing NFT and blockchain gaming protocols in recent months. The blockchain protocol has made significant progress since its inception and continues to create new milestones. The latest is a partnership with the leading NFT ecosystem provider and creator of the ERC-1155 token standard Enjin. Enjin is …
Continue reading “Dvision Network Bringing a New NFT Experience on Enjin Blockchain Network”
A blockchain-based digital euro would be highly scalable allowing it to process an almost unlimited number of payments, the central bank of Estonia has concluded following a recent experiment. Central banks from several euro area countries and the ECB participated in the test, which also professed to show the digital currency’s carbon footprint would be …
Morningstar Portfolio Manager Amy Arnott said Cardano, along with Bitcoin and Ethereum, has the potential to form the “big three” of mainstream cryptocurrencies. She pointed out each has its pros and cons. However, Cardano will soon offer the technical applications of Ethereum, but without its extreme volatility. Whereas she claims Bitcoin lacks the ability to …
Continue reading “Morningstar analyst pegs Cardano (ADA) as one of the “big three” cryptocurrencies”
Major cryptocurrency exchange Binance today announced that users who passed only “Basic” verification soon won’t be able to withdraw more than 0.06 Bitcoin (roughly $2,000) worth of funds per day—down from the previous limit of 2 BTC (around $80,000 currently). “Daily withdrawal limits will be adjusted to 0.06 BTC for accounts which have completed only …
The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after accusing them of failing to stick to their core mandate. Instead of providing forex to retail users, BDCs are believed to be supplying the scarce resource to so-called “illegal” dealers. …
With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible influx of miners and illegal imports of mining hardware from China. Tavanir Warns …
Continue reading “Iran Raises Alarm Over Potential Influx of Miners From China”
The number of users or unique addresses leveraging decentralized finance (defi) protocols via Ethereum has risen past 3 million according to recent statistics. A vast majority of these unique addresses use the defi protocol Uniswap, as 2.4 million users have been recorded since December 2018. Ethereum Defi Applications See Unique Addresses Surpass 3 Million According …
Continue reading “Unique Addresses Tethered to Ethereum Defi Apps Climb Past 3 Million”
The growth and popularity of community inclusion cryptocurrencies in Kenya continues to soar with the country’s rural farmers being the latest group to embrace the financial technology. As one report reveals, some farmers in Kenya’s countryside are now accepting cryptocurrency as payment while others are using the same to buy important supplies. Use of Sarafu …
The International Monetary Fund (IMF) has warned against adopting cryptocurrencies, like bitcoin, as legal tender. Noting numerous risks and costs involved, the IMF does not see crypto assets catching on as a national currency. IMF Warns of Risks in Adopting Cryptocurrencies as National Currency The International Monetary Fund (IMF) published a blog post on Monday …
Continue reading “IMF Warns Against Adopting Crypto Assets Like Bitcoin as Legal Tender”
U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that …
Payments giant Mastercard has launched a new, global program for cryptocurrency startups. Seven crypto companies have already joined the program. Together with Mastercard, they will work to “expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets.” Mastercard’s …
The International Monetary Fund (IMF) published a warning that putting Bitcoin (BTC) or any other crypto on par with a national currency presents serious risks to macro-financial stability. In their official blog post, written by monetary and capital markets department director Tobias Adrian and legal department head Rhoda Weeks-Brown, the IMF describes adopting cryptos as …
