Recently, there was turmoil in the stablecoin industry. This was after the popular DeFi platform, Terra, collapsed. Also, its stablecoin, the USD crashed, and several investors lost millions of dollars. Following the news, a Swiss National Bank (SNB) executive has commented on the matter. The executive, Thomas Moser, believes that regulators would favor centralized stablecoins…
According to recent reports, Axie Infinity has relaunched its Ronin bridge with some added features. The platform said it conducted three different audits before reopening the bridge. The co-founders of the popular dApp announced the bridge’s reopening on Twitter. They also showed commitment to ensuring users get back their lost funds. Ronin Bridge Relaunch Features…
The Central Bank of Morocco (CBM) is working on a crypto regulation Bill. Also, the bill will help curb terrorism financing and money laundering in the country. This is because the bill will also upgrade the regulations guiding them. According to the governor of the Central Bank, Abdellatif Jouahri, the institution will release the regulation…
In the past months, the mining sector has faced harsh sanctions in various countries. Recently, the Iranian government introduced a seasonal ban on crypto mining. Also, the nation’s electricity distribution company has ordered crypto miners to suspend activities. However, the local community has reacted negatively to the announcement. Many are asking why the company ordered…
In the past months, there have been a series of attacks by hackers on cross-chain bridges. These attacks have caused serious damage to the cryptocurrency community. Meanwhile, the latest attack was on the popular cross-chain bridge, Horizon Bridge, owned by Harmony. Given the recent economic downturn, this is a huge blow to the DeFi platform….
Currently, regulators worldwide are still looking for the best way to regulate the $900-billion industry. Meanwhile, on the 22nd of June, Euronews stated that: “While some state have partially regulated the sector, others have left the sector without regulations.” Swiss Watchdog, FINMA, Calls For Complete Regulation Of Crypto Market Various officials warned that not regulating…
Popular online commerce mogul eBay has acquired an NFT Marketplace, KnownOrigin. This is part of the company’s expansion into the NFT industry. The Uk-based NFT platform, KnownOrigin, was created in 2018. The platform allows content collectors and creators to sell and buy digital collectibles. Although the report declared it a “leading” marketplace, an analysis of…
Recent announcements indicate Citi will partner with METACO on a new custodian project. Citi announced on June 22nd that it ant to test run its crypto custodian capabilities. With this partnership, both firms will combine their technological platforms. METACO will provide its digital and technology solutions. Then Citi would use its wide custody network. The…
According to reports, major crypto trading platform, Huobi has secured more operating licenses. The crypto firm has now expanded to Dubai and New Zealand. On June 17th, Huobi Group obtained an Innovation License to operate in Dubai. This was after registering with the Dubai International Financial Centre (DIFC). Lily Zhang, the Chief Financial officer of…
Meta, the parent company of Instagram and Facebook, has taken another giant stride for the metaverse. The firm is launching a designer virtual clothing store for its users. Hence, users can buy different wear for their digital avatars. Also, Meta opines that this sector would be very profitable. This is because it determines the identity…
A popular European banking Institution, the KBC Group, has launched its own virtual token. This token, dubbed the “Kate Coin,” is based on blockchain technology. More also, customers of the banking institution will have access to the token. Customers can use it via their mobile app and digital wallet. KBC Releases Digital Coin, Kate Coin…
In the latest news, the largest NFT marketplace, Opensea, has switched protocol. The company stated that it is moving to Seaport, a web3 open market platform. The good news is that users will no longer pay account initialization fees. Also, the move will reduce the amount spent on network fees by over 35%. Opensea Leaves…
On June 16th, the US Federal Reserve raised the interest rate by about 0.75%. This is the single largest increment in the last 30 years. Meanwhile, the Reserve Bank noted that more increments would come later in the year. The hike was aimed at counteracting the increasing inflation in the country. Meanwhile, following the announcement…
Various regulators are showing concern as the crypto market continues its downward slide. They believe it is high time that a move is taken to regulate the sector. Moreover, agencies like the Securities Exchange Commission (SEC) call for more regulations. The SEC boss, Gary Gensler, earlier stated that crypto regulation is not enough. While commenting…
The recent crash in the crypto sector has caught the attention of global authorities. Several regulatory agencies are sitting up on the issues of crypto regulation. According to the Bank of Canada, urgent regulation is needed in the crypto sector. It added that: “The sector is growing and might affect the overall financial market if…
In recent months, instability has plagued the crypto sector. Digital currencies continue to rise and fall, causing panic across the crypto community. Last week, it appeared the crypto market had regained stability. Several analysts believed the crypto market was gearing up for a bullish movement. Unfortunately, that is far from the truth. Today, June 13th,…
Globally, the usage of digital currencies has increased over the years. In addition, various financial institutions have made it easy for users to buy and sell cryptos. One of the available options for users is the use of crypto ATMs. Bitcoin of America Continues To Install More Crypto ATMs Meanwhile, Bitcoin of America, a BTC…
The EU’s latest decision to restrict the usage of non hosted wallets appears to be taking effect. A state in Europe has taken the first step to outlaw non hosted crypto wallets. Lithuania Moves To Ban Anonymous Crypto Wallets The government of Lithuania has taken steps to tighten its crypto regulations. The government made a…
A recent report states that Brazil’s central bank is developing a unique kind of CDBC. According to the central bank’s president, the CBDC will be used for wholesale purpose. Also, private banks will be able to use the digital Real as collateral to issue stablecoins. Digital Real Will Be wholesale Oriented Brazil plans to issue…
Since the crash of Bitcoin in December, several crypto holders have sold their BTC. As a result of these sell-offs, the prices of digital assets have dropped tremendously. Meanwhile, sell-offs can be assessed based on a particular region and its trading hours. Recently, macro pressure in the U.S. market has been responsible for the crypto…
