To separate the signal from the noise, the Kraken Intelligence team analyzes on-chain data to bring you the latest insights into the ever-changing world of cryptoassets. Download the September on-chain report, “End of Summer Sale,” to learn why market participants remain optimistic (even in the face of a $10k red candle), what was behind recent weakness in the price of…
The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments. China’s Central Bank Shakes Crypto…
The price of Ethereum’s native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions as “illegal.””Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies,” the People’s Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese…
Bitcoin (BTC) dipped deeper to challenge $40,000 support during Sept. 24 as the dust settled on what analysts stressed was a false alarm from China.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewA classic bull run formula?Data from Cointelegraph Markets Pro and TradingView showed new multi-day lows of $40,690 for BTC/USD on Bitstamp, down 8% on the day.Hodlers had been frustrated but remained…
The Giving Block, a major organization focused on the cryptocurrency donations industry, continues expanding its crypto charity reach with a new partnership.The organization will be working with charitable platform provider RenPSG to allow its donors to move cryptocurrencies like Bitcoin (BTC) into new donor-advised funds to support nonprofits and other charitable organizations, The Giving Block announced Sept. 23.As part of…
Kraken is thrilled to announce a commitment to fund Bitcoin’s open-source Rust development ecosystem. In memory of late Bitcoin Rust contributor and former Kraken employee, Tamás Blummer, our internal Tamás Blummer Memorial Fund aims to accelerate the development of Bitcoin Rust libraries. A pioneering entrepreneur involved in several Bitcoin companies, Tamás created a Bitcoin library written in the language before…
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The legal status of cryptocurrencies remains a mixed bag of regulatory positions, depending on the jurisdiction being considered. While some countries move toward blanket prohibitions or stringent regulations, others elect to go with a more open approach to crypto.For Ukraine, the latter path appears to be the case, with the government encouraging legalized crypto operations within the country. Ukraine’s seemingly…
Fintech firm Centbee recently announced it has successfully completed the testing of its cross-border remittance application, Minit Money. The testing of the application was carried out within the framework of the South African Intergovernmental Fintech Working Group (IFWG)’s regulatory sandbox. Using Crypto to Enable Faster and Cheaper Remittances In a statement, the fintech firm claims its Minit Money application has…
The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.The People’s Bank of China (PBoC) officially announced on Sept. 24 a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in cracking down crypto activity.10 Chinese state…
