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Crypto News

Crypto Market in Brazil to be Regulated by Central Bank and Securities Commission

Brazil's Central Bank and Securities Commission have been designated as overseers of the country's crypto market, according to a recent decree. The Securities Commission will control securities, while the Central Bank will establish rules for exchanges, including licensing requirements. This move follows the approval of a crypto regulation bill in December 2022, which created a license for virtual service providers and introduced penalties for fraud involving virtual assets. Brazil has emerged as a regional crypto hub, attracting major companies and protocols like Coinbase, Bitget, and Metamask.

coindesk - 1167 ngày trước

Binance Ventures into Bitcoin Mining Cloud Services Despite US SEC Regulatory Storm

Binance, a leading crypto exchange, has introduced a new subscription-based cloud mining service exclusively for Bitcoin. This service allows users to mine Bitcoin even without owning the necessary equipment. By purchasing hashrates, which represent the computing power needed for Bitcoin transactions, subscribers can increase their chances of earning more Bitcoin. The subscription lasts for 180 days, during which users can earn 0.0004338 BTC for each Terahash per second (Th-s) they purchase. However, this service is not available to users in the United States.

cointelegraph - 1167 ngày trước

BlackRock Poised to Enter Bitcoin Market with ETF Application

BlackRock, the world's largest asset manager, is reportedly nearing the filing of an application for a Bitcoin exchange traded fund (ETF). The company is said to be utilizing Coinbase Custody for the ETF and relying on the crypto exchange's spot market data for pricing. While it remains uncertain whether the ETF will be based on spot or futures, the Securities and Exchange Commission (SEC) has previously rejected applications for spot bitcoin ETFs but has approved bitcoin futures ETFs. BlackRock has not yet commented on the matter.

coindesk - 1167 ngày trước

Hong Kong Government Urges Banking Giants to Embrace Crypto Users

The Hong Kong Monetary Authority (HKMA) is reportedly pressuring major banks, including HSBC and Standard Chartered, to accept cryptocurrency exchanges as clients. In a meeting held in May, the HKMA questioned why these banks were not working with crypto exchanges. Just a month prior, the HKMA had urged banks to adopt a more ambitious approach to new sectors such as the crypto market. While there is some opposition, the HKMA encouraged banks to embrace cryptocurrencies. This move by Hong Kong comes amidst regulatory challenges faced by exchanges in the United States.

cointelegraph - 1167 ngày trước

Strike Introduces Lightning-Powered Bitcoin Transfers for Instant and Affordable Remittances to Mexico

Strike, the global money app, has expanded its payment service "Send Globally" to Mexico, aiming to provide faster and cheaper cross-border payments using Bitcoin's Lightning Network. With Mexico receiving a record $60 billion in remittances from the United States in 2022, Strike's initiative offers an alternative to traditional money transfer providers. By converting dollars to bitcoin and utilizing the Lightning Network, users can enjoy instant payments to Mexican bank accounts without transaction fees. The partnership between Strike and Relampago in Mexico enables low-cost cross-border payments, transforming the financial landscape for Latin American individuals.

Bitcoin Magazine - 1168 ngày trước

Flipkart and Polygon Forge Path to Web3 Accessibility, Targeting Millions of Potential Users

Polygon, a leading blockchain project, has partnered with Flipkart, India's digital commerce giant, to launch a loyalty program called Firedrops. The program aims to incentivize brand loyalty through gamification, offering surprises, games, and rewards to millions of Flipkart users. Polygon believes this partnership has the potential to introduce millions of new users to Web3, the next generation of the internet. Flipkart recognizes the value of customer loyalty and the emerging space of Web3 loyalty, stating that the program revolutionizes brand marketing and customer engagement. Early access to Firedrops is currently available to waitlisted users.

dailycoin - 1168 ngày trước

Jack Dorsey Praises Bitcoin's Potential Influence on Twitter's Technological Evolution

Twitter founder and former CEO Jack Dorsey gave his first interview since leaving the platform, discussing various topics including his thoughts on Twitter's current state. Dorsey criticized Elon Musk's tenure as CEO and expressed his desire for Twitter to adopt Bitcoin's technology. In the interview, conducted on the YouTube channel Breaking Points, Dorsey talked about AI concerns, endorsed presidential candidate Robert F. Kennedy Jr., and discussed Twitter's new management. He highlighted the potential adoption of advanced technologies like Nostr and Bitcoin, the world's largest cryptocurrency.

InsideBitcoins.com - 1168 ngày trước

Jack Dorsey Praises Bitcoin's Potential Influence on Twitter's Technological Evolution Jack Dorsey Praises Bitcoin's Potential Influence on Twitter's Technological Evolution

InsideBitcoins.com - 1168 ngày trước

Record-Low Bitcoin Supply on Exchanges Highlights Growing HODLing Culture and Bullish Sentiment

Bitcoin supply on exchanges reaches its lowest level in over five years, standing at just 6.4%. On-chain data reveals that investors have been moving their coins to self-custody, a trend that indicates accumulation. While short-term implications may affect the asset's price, the long-term perspective demonstrates positive development as coins are spread among various entities, reducing reliance on centralized platforms. Recent events, such as the US SEC suing Binance and Coinbase, have sparked FUD and prompted large Bitcoin withdrawals. Nonetheless, the decreasing influence of centralized exchanges mitigates potential market destabilization.

Bitcoinist.com - 1168 ngày trước

Ukraine Takes Progressive Steps in Cryptocurrency Regulation with New Draft Law

Ukraine is advancing in cryptocurrency regulation through a draft law by the National Commission for Securities and Stock Market (NCBFR). The proposal recommends a fair tax rate of 18% on crypto profits and an additional 1.5% for military training. Ernst & Young collaborated on the bill, gaining support from the Verkhovna Rada's financial committee and major crypto services like Kuna, WhiteBIT, and Binance. If passed, Ukraine will lead as the first European country implementing European standards for virtual asset regulation, expected to take effect from 2024.

forbes - 1168 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