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Crypto News

Indian Ministry Aims to Innovate Digital Signatures with Crypto Token Integration

In a progressive move, the Indian Ministry of Electronics and Information Technology (MeitY) has unveiled plans to incorporate crypto tokens for digital document signatures within a domestically developed web browser. Despite lacking concrete cryptocurrency legislation, this initiative signifies India's openness to blockchain Challenge (IWBDC). The browser, to be created through the Indian Web Browser Development Challenge, seeks enhanced security, data privacy, and Web3 support. The government has allocated a substantial $400,000 prize fund, encouraging developers to submit their creations by July 1, 2024.

coindesk - 1112 ngày trước

France Adopts New Registration Rules for Crypto Companies in EU's MiCA Framework

France's financial regulator, Autorité des Marchés Financiers (AMF), has revealed updated registration requirements for cryptocurrency companies to comply with the EU's new regulations for the sector. The move comes ahead of the implementation of the Markets in Crypto Assets (MiCA) framework across the European Union. These "enhanced" requirements, obligatory for new players in the field from January 1, 2024, offer a streamlined authorization process for existing firms. The nation's proactive approach has already seen entities like Societe Generale's crypto arm obtaining the first crypto license.

coindesk - 1112 ngày trước

Coinbase Report: Crypto Sees Rapid Rise in New York's Adoption

According to a recent Coinbase report, crypto ownership in New York is at 19%, solidifying its position in the US crypto scene. The state ranks in the top 10 for ownership and average crypto holdings. The survey from Coinbase's United States of Crypto project shows 1-3 of respondents see crypto promoting financial fairness. With 700+ blockchain entities and over half of Fortune 100 firms in crypto, New York wields substantial crypto influence. Despite regulations, corporate interest in Web3 stays strong. Amid debates, the state combats crypto fraud and issues, showcasing its crypto commitment.

Blockworks - 1112 ngày trước

Cardano's DeFi Sector Surpasses 600 Million ADA in Landmark Achievement

Cardano (ADA), a long-standing smart contract blockchain, is now a strong contender in Decentralized Finance (DeFi). Since launching its native DeFi protocol in 2022, Cardano's public development and application deployment have expanded steadily. On August 8, Cardano hit an all-time high in Total Value Locked (TVL) in DeFi, reaching 601.35 million ADA (about $179 million). Notably, stablecoins contribute $15.69 million, primarily led by a 74% dominance of Indigo USD (IUSD). Minswap (MIN), Cardano's leading DeFi protocol, holds a TVL of 160.29 million ADA (approximately $47.86 million), accounting for 26.65% of the total locked value.

Finbold - 1112 ngày trước

U.S. Federal Reserve Implements New Program to Oversee Crypto Banking Activities

The US Federal Reserve has introduced a new program to enhance its oversight of banks' involvement in cryptocurrencies. The move, announced on Tuesday, establishes a "novel activities supervision program" where the central bank's digital asset experts will collaborate with regular regulators to handle dealings within the crypto sector. Banks under the Fed's authority must now obtain pre-approval for engaging in stablecoin operations, demonstrating their ability to manage associated risks. The program aims to strike a balance between regulatory control and fostering financial innovation, aligning with the recent surge in crypto interest.

coindesk - 1113 ngày trước

Billionaire David Rubenstein Believes Bitcoin's Future Assured by Institutional Interest

Private equity magnate David Rubenstein affirms Bitcoin's enduring status due to surging institutional involvement, notably BlackRock's pursuit of a bitcoin ETF. He highlights the global desire for a government-independent currency. Rubenstein rues missing the chance to buy bitcoin at $100 and anticipates skeptics reconsidering crypto due to traditional finance's growing engagement. His insights stem from BlackRock's ETF plans. While previously admitting investments in crypto-facilitating firms, Rubenstein also mentioned that Ripple's recent legal victory indicates ongoing skepticism about cryptocurrencies by the U.S. SEC.s.

coindesk - 1113 ngày trước

JPMorgan Anticipates Rise in Ethereum Engagement with PayPal Stablecoin Integration

PayPal's new stablecoin launch may raise Ethereum's value by increasing its locked value, suggests JPMorgan. The move could enhance Ethereum's role in stablecoin and DeFi projects. This development might fill the void left by Binance's shuttered BUSD stablecoin due to U.S. regulatory issues. However, critics note Ethereum's high transaction fees for PayPal's stablecoin use. JPMorgan analysts highlight the potential for payment network synergy in both traditional and decentralized finance. Yet, regulatory uncertainties for stablecoin issuers, especially fintech firms, remain a concern.

theblock - 1113 ngày trước

Ethereum Addresses Holding ETH Reach Historic 100 Million Milestone

According to Glassnode, the number of Ethereum addresses holding any amount of ETH (even the smallest fraction known as wei) has doubled since 2021, reaching a record high of 104,076,868. This surge in addresses comes despite Ethereum's recent price consolidation at around $1,830. In comparison, there were only about 20 million such addresses in 2019 and 50 million at the beginning of 2021. Additionally, Glassnode reported that over 4.3 million ETH has remained inactive for seven to ten years, while Bitcoin's dormant supply has also increased to nearly 30% of its total.

CryptoPotato - 1113 ngày trước

Binance Becomes First Fully Licensed Crypto Exchange in El Salvador

Binance, the popular cryptocurrency exchange, has secured two licenses in El Salvador, making it the first fully licensed crypto exchange in the country. The licenses obtained are the Bitcoin Services Provider (BSP) license from the Central Reserve Bank of El Salvador and the non-provisional Digital Assets Services Provider (DASP) license from the National Digital Assets Commission of El Salvador. With these licenses, Binance can now offer tailor-made crypto products and services in the country and work closely with authorities to promote crypto adoption and financial inclusion.

theblock - 1113 ngày trước

Blockchain.com Gains Major License, Facilitating Crypto Transactions in Singapore

Blockchain.com, a cryptocurrency business, has obtained a major payment institution license from the Monetary Authority of Singapore (MAS). The license, granted on August 1, allows the exchange to offer regulated digital payment token services to its institutional and accredited investor customers globally. The company has been expanding its presence in Asia, and this license marks a significant step in its growth. Additionally, MAS announced a commitment of up to S$150 million ($111.6 million) to support fintech and innovation, including web 3 technology.

theblock - 1114 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước