Hong Kong’s central bank, the Hong Kong Monetary Authority (HKMA), wants to supervise stablecoin issuance and reserves management. HKMA published a discussion paper on Jan. 12 regarding cryptocurrencies and stablecoins, in which it provided its views on how the industry should be regulated in Hong Kong. In the 34-page long consultation document, the HKMA paid special attention to “payment-related stablecoins,” pointing…
Minnesota Representative Tom Emmer has announced he will be introducing a bill intended to prevent the Federal Reserve from acting as a retail bank in the potential issuance of a digital dollar. In a Wednesday announcement, Emmer said the bill would prohibit the Fed from issuing a central bank digital currency, or CBDC, directly to U.S. consumers. According to the Minnesota…
Jack Dorsey, the CEO of Block and ex-CEO of Twitter, has proposed creating a nonprofit organization to protect the rights and interests of open-source Bitcoin developers, who are often subject to “litigation” and “threats.” Dorsey explained in an email sent to the bitcoin-dev mailing list on January 12 that the nonprofit’s intention is to defend Bitcoin developers from these threats…
A new non-fungible token (NFT) marketplace called Looksrare has surpassed Opensea in terms of daily volume on Wednesday. Statistics show 3,264 Looksrare traders have executed $385.39 million in sales during the last day, as the marketplace has seen a 1,461% increase in daily volume. Looksrare NFT Market Captures Number 1 Position in Terms of Daily NFT Volume There’s a new…
TCS Group, the owner of the major private Russian bank Tinkoff, is gaining exposure to digital assets. The firm has invested in Swiss digital asset service provider Aximetria, which is set to become the company’s first major crypto-related outfit, local news agency The Bell reported Wednesday. Citing data from Aximetria, the report suggests that TCS purchased 4,449 Aximetria shares worth…
In brief “Death cross” is a technical term from the world of stock trading. It signifies a rare meeting of the 50- and 200-day price averages. Death crosses are never good, but crypto experts are not particularly worried. A pricing event called a “death cross” looms for the two biggest cryptocurrencies and, barring a serious rally, could occur later this…
sponsored The growth of the cryptocurrency industry has raised many concerns. They range from security and scalability, on-boarding newbies, trust-less custody and order matching on exchanges to overall user experience, and to achieve mass adoption of cryptocurrency, there’s a need for third generational exchanges to resolve these issues. Cryptocurrency and blockchain technology keeps evolving and changing to suit users’ needs.…
The latest figures from the United States Bureau of labor statistics show that the (Consumer Price Index) CPI hit 7% in December. Bitcoin (BTC) was volatile prior to the announcement, fluctuating over $2,000 from lows of $41,000 to $43,000 on Wednesday morning. Upon release of the figures, the price continued its upward climb, touching $44,000. Prior to the announcement, Twitter…
Raees and Ameer Cajee, the brothers behind crypto platform Africrypt, have not been seen since the two allegedly made off with $3.6 billion in Bitcoin last summer. And amid the recent dip in markets, pegging the stolen sum now at $2.9 billion, victims are demanding criminal charges be made. “We are pushing for the brothers to be charged for fraud,…
Jack Dorsey’s popular financial company Square went through a recent rebrand and is now called Block. The move led one of its subsidiaries, Square Crypto, to also take up a fresh name. Now known as Spiral, Block’s Bitcoin company has set out on a well-defined mission: to advance Bitcoin toward worldwide use. What’s In A Name? In its rebranding statement,…
