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…
Globally, different countries are embracing the usage of blockchain technology. This is due to the benefits it offers to various sectors of the economy. The Nigerian crypto and blockchain advocacy group SIBAN has announced guidelines for all VASPs. The goal is to promote regulation and innovation in the blockchain and crypto sectors. Safeguarding The Nigerian…
Since the advent of BTC mining, miners have stored most of the Bitcoin they mined. Then, the cash flow was enough to handle expenses since Bitcoin’s price was high. As miners mined Bitcoin, they saved a large portion and used the rest to finance their operations. Unfortunately, the recent market crash is forcing miners to…
KenGen, an energy company in Kenya, has good news for BTC miners. The company has excess renewable energy, which it is willing to sell. Additionally, the firm stated that over 86% of its power is renewable. The report states it is mainly from a geothermal source. Also, the company has rentable land at its power…
At the start of June, the crypto market was bullish. Unfortunately, as of the 2nd of June, prices have dropped. Solana is not left out. Last week, the altcoin was down due to an outage in the blockchain. Consequently, this affected its trading price. The currency received much attention on the 27th of May after…
Francisco GavidiaUniversity recently conducted a survey in El Salvador, where it is based. The private institute’s Center for Citizen Studies discovered that almost half of the people of Salvador who participated in the survey still prefer to use the dollar, as opposed to Bitcoin, which has also been made legal tender in the country. NayibBukele,…
