On July 11, the President of Kazakhstan, Kassym-Jomart Tokayev, signed new tax rates for crypto mining operators into law. While these amendments reflect the country’s growing frustration with the undertaxed and non-transparent usage of the national power grid by both foreign investors and domestic perpetrators, the new taxes could hardly be called excluding. Moreover, they could signal the further adoption…
Ethereum was once again trading in the red, as prices of the token fell below $1,600 during today’s session. Tuesday’s drop is the fifth consecutive day that prices of the cryptocurrency have moved lower. Bitcoin also extended its streak of declines, falling under $23,000 in the process. Bitcoin Bitcoin (BTC) was lower for a fifth straight day, as prices of…
A new report by technology research and advisory firm Technavio reveals an upward trend for the Metaverse within the next four years. The report titled “Metaverse Market in Finance by Component and Geography – Forecast and Analysis 2022-2026” analyzed the metaverse from two viewpoints. The first is software and hardware, and the second is through the impact of various geographical…
Bitcoin (BTC) is pressuring newly-won support levels this week as geopolitical uncertainty raises the stakes for risk assets. After an impressive monthly close, momentum appears to be waning for Bitcoin’s latest gains, data from Cointelegraph Markets Pro and TradingView shows, and stock markets are not helping the bulls. Volatility was cool as August began, but angst over a potential showdown between…
Kim Kardashian’s legal team has filed a motion to set aside a class-action complaint aimed at the businesswoman and other American celebrities. Kardashian and a handful of other prominent American social media influencers were served with a class action complaint in January 2022 over claims they had misled investors through the social media promotion of a cryptocurrency token called EthereumMax. Kardashian had…
North Korean cybercriminals are targeting jobs listed on LinkedIn and Indeed to plagiarize resumes and other people’s profiles to land remote work at crypto firms, according to a Bloomberg report citing security researchers at Mandiant. The objective is to access these firms’ internal operations and gather intelligence about upcoming trends, including those related to the Ethereum network development, non-fungible tokens…
The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian association of bureau de change operators has said. The leader also slammed the recent adjustment of the central bank’s interest rate to 13%, which he said could have a…
The Monetary Authority of Singapore (MAS), a city-state’s principal financial regulator, assesses the merits of a regulatory regime toward stablecoins. Current guidelines focus on Know Your Customer (KYC) and Anti-Money Laundering (AML) issues and do not reflect the specific risks to which the stablecoins are entitled. On Monday, the MAS official portal published a written response by the regulator’s head,…
Ether (ETH) has taken over Bitcoin (BTC) in the options market for the first time in history as the open interest (OI) of Deribit Ether options, with a value of $5.6 billion, exceeded the OI of Bitcoin options worth $4.6 billion by 32%. OI is calculated by adding all the contracts from opened trades and subtracting the contracts when a…
The Bank of America has concluded that the recent rise in crypto outflows from exchanges and a rise in stablecoin net inflows signal “bullish” market momentum. In the July edition of its Global Cryptocurrencies and Digital Assets report, the bank went as far as to say that “fading sell pressure” has now turned to “buying.” This change in sentiment can…
