Venezuela to start using crypto for oil trades
Venezuela is dramatically increasing its reliance on cryptocurrencies in response to re-imposed U.S. oil sanctions. PDVSA, the country’s state-run oil giant, is spearheading this shift to cryptocurrencies as a tactic to sidestep the financial blockades affecting its operations. The change in strategy was necessitated after the U.S. Treasury recently cut off a general license for […]
UK set to release new laws on crypto and stablecoins in June
By mid-2023, the UK is expected to launch substantial new laws targeting the regulation of stablecoins along with other cryptocurrency activities such as staking, trading, and custody. Economic Secretary Bim Afolami announced at the Innovate Finance Global Summit that this legislation would officially bring various crypto operations such as exchange management and customer asset custody […]
Bitget Crypto Exchange MENA users make up 10% of its total global user base
Bitget, a global cryptocurrency exchange and Web3 company, has announced an all-time high in trading volumes in the MENA region while witnessing a growth of 500% in trading volumes since it started serving the MENA region in November 2023. Bitget now boasts of 2.5 million users from the MENA region, making up 10% of its […]
Homegrown crypto broker BitOasis receives active operational go ahead from Dubai’s regulator
BitOasis, the first homegrown crypto broker out of UAE, has reverted back to active operational status, allowing it to onboard new clients, while it awaits approval for its full operational VASP license from Dubai’s virtual asset regulatory authority (VARA). As per VARA’s website, under active MVP operational status, BitOasis Technologies FZE Virtual Asset Service Provider […]
This is going to sound weird, but Trump and crypto have something in common
So get this. Bitcoin’s on a tear, Elon Musk is shooting Dogecoin to the stars, and meme stocks are making a grand re-entrance. And let’s not forget the man of the hour – Donald Trump. My boy’s media company is stirring up the stock market like it’s nobody’s business. And zooming out on the numbers […]
Aquanow receives most comprehensive crypto license from Dubai’s virtual asset regulator
Dubai’s virtual asset regulator has awarded its 20th VASP ( Virtual asset service provider license) to Canadian based Aquanow. This is considered the most comprehensive license to date as it includes not only a crypto brokerage license but also crypto lending, borrowing and investment. VARA ( Virtual asset regulatory Authority) for Dubai had stated in […]
Vast Bank withdraws from cryptocurrency amid regulatory hurdles
Vast Bank, recognized for being the pioneering United States banking institution to integrate cryptocurrency transactions with traditional checking accounts, has announced the closure of its mobile crypto banking application. This move marks the bank’s exit from the cryptocurrency sector, a significant shift from its initial embrace of digital currencies. The bank has declared that it […]
Vitalik Buterin’s analysis of crypto & AI: What you need to know
Vitalik Buterin, the genius behind Ethereum, recently got into the complex interplay between cryptocurrency and Artificial Intelligence (AI), offering a perspective that demands attention. His insights are not just a superficial glance but a deep dive into the potential and challenges at the intersection of these two technological powerhouses. As always, I am here to […]
18 U.S senators express support for cryptocurrencies while regulatory uncertainty continues
The enthusiasm surrounding cryptocurrencies in the United States remains palpable, with 18 senators openly expressing their support for digital assets. However, despite growing interest and a call for regulatory clarity, the cryptocurrency sector in the country still operates without comprehensive legal regulations. Bipartisan support for cryptocurrencies A recent research report published by Stand With Crypto, […]
Crypto is still having a hard time proving its legitimacy
The world of cryptocurrency has been a rollercoaster of highs and lows, and despite recent recoveries, it’s still struggling to shake off its reputation for instability and scandal. Back in 2022, the crypto market plummeted, wiping out two-thirds of its value in a year. This crash exposed the precarious nature of numerous leading crypto companies […]
Spot Bitcoin ETF predicted to challenge crypto exchanges
The cryptocurrency community is bracing for a significant shift as a spot Bitcoin ETF (BTC) exchange-traded fund (ETF) looms in the United States. This anticipated development, coupled with Bitcoin’s expected block reward halving in April 2024, is projected to considerably impact the market. Industry experts, including Blockstream CEO Adam Back, foresee a potential surge in […]
Where there is smoke there is fire, Qatar investment in crypto with El Salvador
After Qatar was pushed into the crypto scene back in September claiming that the visit of HH Prince Sheikh Tamim bin Hamad Al-Thani of Qatar to El Salvador would include discussions on Bitcoin mining, once again Qatar is being shoved into the crypto scene with rumors that the Qatar Sovereign Fund will be purchasing $500 […]
UAE first crypto mining ICO for Phoenix Group raises $370 million with retail clients as biggest investors
As the crypto market goes green so is crypto mining investment in the UAE. For the first time in the MENA region, a UAE home grown crypto mining entity Phoenix Group has carried out a successful IPO 33 times oversubscribed with retail clients being the biggest investors. The IPO which started on November 16th 2023 […]
Effects of FinCEN convertible virtual currency mixing seen first in UAE
At the onslaught of the Israel Gaza war, the eyes of the world turned to Hamas and it’s financing. On October 19th FinCEN (U.S Department of the Treasury’s Financial Crimes enforcement network) proposed new regulations to enhance the transparency in convertible virtual currency (CVC) mixing and combat Terrorist Financing, mentioning Hamas, Palestinian Islamic Jihad. This […]
Could Qatar be part of El Salvador’s Bitcoin mining project after Qatar’s Prince official visit?
The visit of HH Prince Sheikh Tamim bin Hamad Al-Thani of Qatar to El Salvador today September 13th 2023 has raised questions that bitcoin mining could be part of the discussions The news of the visit sparked the interest and imagination of some influencers and enthusiasts in the crypto community. Could Qatar be part of […]
Whale Alert flags $33 million XRP transfer amid Ripple-SEC legal battle
Whale Alert, the renowned crypto tracking platform, has flagged a significant XRP transaction. A whopping 66,666,659 XRP, valued at about $33,065,809, moved from Binance to an unknown wallet. This transfer has ignited chatter about its potential market influence. But that’s not all in the XRP universe. Ripple, the company behind XRP, has been making notable […]
Bitstamp eyes Asian and British markets in ambitious expansion plan
Bitstamp, the Luxembourg-based cryptocurrency exchange, is taking strategic steps to secure additional funding to expand its global footprint and enhance operational capabilities. CEO Jean-Baptiste Graftieaux has disclosed ongoing discussions with potential investors to propel the company’s growth and innovation agenda. Securing funding is already in motion, facilitated by advisory support from Galaxy Digital Holdings. Bitstamp’s […]
Coin Center and Blockchain Association join forces against Senate’s DeFi bill
The Crypto-Asset National Security Enhancement and Enforcement Act (CANSEE) has drawn heavy condemnation from prominent crypto advocacy organizations, igniting a fierce debate over the future of decentralized finance (DeFi). Proposed by Senators Jack Reed (D-CT), Mark Warner (D-VA), Mike Rounds (R-KS), and Mitt Romney (R-UT) with bipartisan support, the measure seeks to impose strict controls […]
South Korean government approves landmark bill to regulate cryptocurrency assets
South Korean lawmakers have taken a significant step forward in regulating cryptocurrency assets by passing a bill that requires officials to disclose their holdings. The unanimous approval of the bill by the National Assembly signifies the government’s commitment to tackling cryptocurrency-related issues. The amendments to the National Assembly Act and the Public Service Ethics Act […]
Cryptocurrency firms in France to leverage social media influencers for advertising
Recent reports state that registered cryptocurrency exchanges in France will allow social media influencers to promote their cryptocurrency products. This new policy permits influencers to endorse these products and expand their reach to a broader audience. This was agreed in the latest agreement by the French Senate’s Economics Committee on Wednesday. The French Senate statement […]
Ripple price analysis: XRP prices suffer a further downtrend to lows of $0.4550
Ripple price analysis shows a slight downward trend in current market conditions. The crypto is trading at $0.4550, at the time of writing. Prices have been trading between $0.45 and $0.47 over the past 24 hours. The next few hours may see upward price movement as the bears take a breather, but any rallies are […]
Magic Store Integrates IQ Protocol into its Ecosystem
The crypto world is evolving, with lots of inventions released periodically, from cryptocurrencies to DeFi, DAO, NFTs, ReFi, GameFi, Metaverse, etc., now we have a magic store. The Magic Store is a wonderful invention in the crypto industry. It grants users access to all their crypto apps through one Magic login. Users can also find […]
Cryptoassets are mechanism for crooks to get money, says Dogecoin co-founder
Jackson Palmer, the co-founder of renowned meme crypto-asset Dogecoin (DOGE) is allegedly issuing a warning that crypto has not yet entered the phase of dormancy. According to Jackson, this is despite the massive decrease in all properties in the area. A new article published by Australian news media Crikey News revealed that Jackson Palmer, who co-founded […]
Crypto hackers steal over $700 million from Ethereum blockchain in 2022 Q1
Crypto hacks continue at an alarming rate this year The Ethereum Blockchain has suffered the most attacks this year. Industry players look to lawmakers to curb crypto hacks. The first quarter of 2022 has been a roller coaster of both positive and negative events in the crypto market. Compared to Q1s of other years, crypto […]
Voyager slammed with desist order in New Jersey
TL; DR Breakdown Voyager slammed with cease and desist order The firm has over 52,000 users in NJ US regulators continue to clamp down on high yield accounts A New Jersey regulator has served crypto-based investment Voyager Digital with a cease and desist order. Going by the order details, the body mentioned that the company […]
ACCC slams lawsuit on Meta over scam crypto ads
TL; DR Breakdown ACCC hit Meta with a lawsuit The case will be heard at a federal court ACCC chairman laments Meta’s involvement in the scams The Australian Competition and Consumer Commission has announced that it has officially slammed a lawsuit on Meta. The case, which will be heard at a federal court, alleges the […]
Web3 cryptocurrencies: Good investments for the future?
With the advent of Web 3.0, the rise of Web3 cryptocurrencies is inevitable. Direct investment in blockchain protocols, through their crypto, is the right place to start participating in the growth of Web 3.0. However, Web3 has a dubious reputation; some critics brand it as an extension of blockchain-based trends that are “overhyped” and “harmful.” This […]
