The Chinese city of Jinan is pushing for CBDC adoption by implementing digital yuan payments across its entire bus network. Source: https://cointelegraph.com/public/index.php/news/cbdc-legal-tender-in-chinese-city-jinan-for-bus-rides
Month: July 2023
US crypto regulatory uncertainty could be Hong Kong’s gain — Yat Siu
Animoca Brands founder Yat Siu believes Hong Kong’s efforts to foster the Web3 ecosystem are in stark contrast to regulatory uncertainty hampering development i… Source: https://cointelegraph.com/public/index.php/news/web-3-crypto-u-s-regulatory-uncertainty-could-be-hong-kong-s-gain-yat-siu
UK financial watchdog reminds crypto firms of October deadline for marketing compliance
Companies operating in the U.K. will have only “four routes to lawfully communicate cryptoasset promotions” in order to be in compliance with the FCA’s regime. Source: https://cointelegraph.com/public/index.php/news/uk-financial-watchdog-reminds-crypto-firms-october-deadline-marketing-compliance
Does Ethereum Still Have a Cartel? Glassnode Unpacks Skyrocketing Staking
Ethereum (ETH) staking has been flying high over the last several months after its latest upgrade, dubbed Shanghai, and the network has also seen the continued dominance of its so-called cartel, Lido Finance, according to the latest report by blockchain intelligence firm Glassnode. Some observers thought that the Shanghai upgrade in April—which allowed users to un-stake and withdraw their tokens—would…
DCA Is The Way: Diligent Bitcoin Buyers Are Back in the Black
If you’ve consistently stacked Bitcoin through daily recurring buys until today, congratulations! Your investment has officially turned a profit. An analysis by Twitter Bitcoiner @w_s_bitcoin (also known as “Wicked”) on Monday concludes that investors who continue to “dollar cost average” (DCA) into the largest crypto asset can call their strategy a success, no matter when they started to invest. Just…
Bitget Launches ‘Dual-Coin’ Crypto Loans to Boost Investor Liquidity
Bitget is moving ahead with plans to launch a cryptocurrency lending program for users that will let them stake their own coins in exchange for loans in another. The derivatives trading platform says the program is aimed at borrowers who are dissatisfied with traditional lenders. Gracy Chen, managing director at BitGet, said that the loan program helps borrowers grow their…
Advocates call for Hong Kong govt stablecoin to compete with Tether and USD Coin
Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the country’s dollar which could challenge the dominance of Tether (USDT) and USD Coin (USDC). According to an English translation of a July 3 report provided by Chinese crypto reporter Colin Wu, four individuals tied to financial innovation proposed the…
UK government moves forward on bill aimed at empowering authorities to seize crypto
Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation aimed at expanding authorities’ ability to target cryptocurrencies used for illicit purposes. In a meeting of the U.K. Parliament’s House of Lords on July 4, lawmakers conducted a third reading of the Economic Crime and Corporate Transparency Bill — legislation introduced in September…
Creditors for bankrupt Voyager Digital billed $5.1M in legal fees
Voyager is not the only crypto firm incurring hefty legal fees; FTX, for example, has been billed over $120 million in fees. Source: https://cointelegraph.com/public/index.php/news/creditors-for-bankrupt-voyager-digital-billed-5-1m-in-legal-fees
Lido, Rocket Pool team members argue over decentralization
A team member for Lido has accused competitor Rocket Pool of being too centralized in a July 4 social media post. Both Lido and Rocket Pool are liquid staking protocols that allow users to delegate their cryptocurrency to validators and receive derivative tokens in exchange. According to the post from Lido’s community staking lead Dmitry Gusakov, the Rocket Pool contracts…