Every time a transaction is made on the network, the Terra Classic burn mechanism immediately burns tokens.The largest cryptocurrency exchange in the world, Binance, has completed its 11th burn round by burning 2.65 billion Terra Classic (LUNC) tokens. Over 35.5 billion LUNC tokens have been burnt by Binance in total, while over 68 billion have

Hive Blockchain (HIVE), a bitcoin mining company, said on a teleconference with analysts on Friday that it wants to let customers train big language AI models in its data centers because it offers more privacy than competitors like OpenAI’s ChatGPT. Companies are now aware that they don’t want to upload private client information to an

When resubmitting its spot bitcoin exchange-traded (ETF) fund applications for a number of prospective bitcoin ETF issuers on Friday, Cboe’s BZX Exchange identified cryptocurrency exchange Coinbase as the market for its surveillance-sharing agreement.In recent weeks, Fidelity, WisdomTree, VanEck, ARK Invest, Galaxy/Invesco, and BlackRock have submitted applications for spot bitcoin ETFs in an effort to establish a product that the U.S. Securities and Exchange Commission (SEC) has consistently denied.The other businesses are collaborating with Cboe, while BlackRock registered with Nasdaq. According to the Wall Street Journal, the SEC informed Nasdaq and Cboe on Friday that their applications were “inadequate” because they failed to identify the market that the fund sponsors are collaborating with on their surveillance-sharing arrangements.In its resubmitted applications, Cboe identified Coinbase as its partner for these surveillance-sharing arrangements, noting that the Coinbase platform “represents a substantial portion of U.S.-based and USD denominated Bitcoin trading.” “The Spot BTC SSA [surveillance-sharing agreement] is expected to have the hallmarks of a surveillance-sharing agreement between two members of the ISG, which would give the Exchange supplemental access to data regarding spot Bitcoin trades occurring on Coinbase if the Exchange determines it is necessary as part of its surveillance program for the Commodity-Based

The judge overseeing the cryptocurrency loan company Celsius’ bankruptcy proceedings has given the go-ahead for Celsius to start liquidating its significant interests in Cardano (ADA), Polygon (MATIC), Solana (SOL), and a few other altcoins on July 1.On November 25, 2022, according to court records from last December, Celsius held control of 106,000 AAVE, 90 million MATIC, 103 million ADA, 161,000 SOL, 3.3 million LINK, 1.8 million polkadot (DOT), 200,000 litecoin (LTC), and 200,000 LINK.It was unclear how much of those assets were to be excluded from the sale as well as the company’s current holdings in those assets. At the time of publication, the total value of those positions exceeded $170 million.Along with 650 million of its own CEL tokens, Celsius also holds millions more in stablecoins. According to Coinmarketcap, that tranche has a notional value of about $100 million, but it wasn’t obvious whether Celsius could sell its original asset. But now that bankruptcy judge Martin Glenn has given the go-ahead, Celsius will soon start selling off a lot of its holdings in favor of bitcoin and ether, the two assets that will finally be awarded to creditors who have been waiting almost a year for their money back. Celsius “may sell or convert any non-BTC and non-ETH cryptocurrency, crypto tokens, or other cryptocurrency assets other than such tokens that are associated with Withhold or Custody accounts to BTC or ETH commencing on or after July 1, 2023,” Judge Glenn’s ruling said.

The Cryptocurrency User Protection Act, also known as the Cryptocurrency Investor Protection Law, has passed through the Legal Affairs Committee in an important development for South Korea’s cryptocurrency industry, signaling a significant turning point in the legalization of virtual currency. Following the Political Affairs Committee’s ruling on May 11, the Cryptocurrency Investor Protection Law was

The Reserve Bank of New Zealand (RBNZ) recently stated that it will not advocate for a regulation approach to stablecoins and cryptocurrencies but will instead advise heightened vigilance. Ian Woolford, Director of Money and Cash, RBNZ, stated that issues brought up by crypto-assets and other developments do not cleanly fall inside agency limits. However, concerns

The best-performing digital asset this month was Bitcoin Cash (BCH), with most of its gains occurring in the past two weeks after it was listed on EDX Markets, a cryptocurrency exchange launched on June 20 and backed by Fidelity, Charles Schwab, and Citadel.According to CoinDesk data, the token increased 171% over the course of the month, outpacing bitcoin (BTC), the biggest cryptocurrency in the world, which increased by 14%.BCH jumped 30% in 24 hours at one point on Friday, reaching a 14-month high of $320. Upbit, the most important digital asset market in South Korea, has seen an upsurge in trading activity.According to Coingecko’s data, the bitcoin cash-Korean won (BCH/KRW) pair, which is listed on Upbit, had $558 million worth of trade in the previous day.This is over three times as much as the $160 million volume in the BTC/KRW pair on Upbit and 5.5 times as much as the $87 million volume in BCH/USD on Coinbase, which is listed on the Nasdaq.According to Matt Kunke, a research analyst at GSR, Bitcoin cash’s superior performance in June may be explained by the belief that forks of the Bitcoin blockchain may carry a lesser regulatory risk. “Liquidations were also a key component of BCH strength, particularly during the last day, as ~$15m of shorts were liquidated, the most out of any coin excluding BTC/ETH,” he said. In addition to the U.S. Securities and Exchange Commission criticizing the two biggest cryptocurrency exchanges, Binance and Coinbase, which caused altcoin prices to fall in June, a number of major institutions increased their investment in the currency toward the month’s end, boosting sentiment.As a result, Bitcoin increased, reaching a one-year high above $31,000 a few days after BlackRock, the largest asset management in the world, submitted an application for a spot ETF on June 15. “In crypto, we’ve been saying ‘the institutions are coming’ every year, and that rallying cry often drives the market narrative,” said Michael

According to Alex Smirnov, CEO and co-founder of cross-chain bridge deBridge, a new feature will make it simple and inexpensive for users of Solana to access apps on other blockchains and vice versa. For the first time, according to Smirnov, a Solana user can access Ethereum Virtual Machine (EVM)-based blockchains, like Arbitrum, without relying on

A claim against the bankruptcy estate and a vote on the Chapter 11 restructuring plan must be made by former users of the cryptocurrency exchange FTX, the trading firm Alameda Research, and several connected businesses by September 29. An order of the Bankruptcy Court for the District of Delaware requires that each claim against the

Ankex, a new cryptocurrency derivatives exchange that was developed within the crypto custody tech company Qredo, will be overseen by Michael Moro, the former CEO of Genesis Trading. Ankex will start with perpetual futures contracts in international markets this week as it begins alpha testing. With the use of features known to experienced traders, such

On Wednesday, a measure aimed to lower taxes on the selling of digital currency passed with a 112-2 majority from the Slovak parliament.A group of Slovak National Council members released an explanation of the income tax bill, stating that it wants to “reduce the tax burden in connection with the sale of virtual currencies, thereby simplifying their use in everyday life.”It is proposed to tax income at a tax rate of 7% when selling virtual currency after one year has passed since its acquisition,” the law stated. Crypto held for shorter periods would be integrated with other taxable income, it added. The bill was read a third time by the Council, Slovakia’s only legislative body, on June 28. One method to increase the appeal of cryptocurrencies is for European Union members like Slovakia to be able to impose their own tax regulations on cryptocurrencies. Portugal’s tax incentives were a big part of what made the country appealing to the industry, but last year, officials announced a U-turn on that advantageous treatment.

The government of Canada is being urged by a committee of MPs to establish a national blockchain strategy that explains the nation’s regulatory stance and “demonstrates support for the industry,” according to a series of policy recommendations released in June. The House of Commons Standing Committee on Industry and Technology’s first of 16 recommendations urges the government to acknowledge the “significant long-term economic and job creation opportunities” presented by the blockchain sector. The committee’s report, which was produced after the government demanded a study of blockchain technology, includes a call for future policy on digital assets to “be guided by the principle that individuals’ right to self custody should be protected and that ease of access to safe and reliable on and off ramps should be defended and promoted.” The trading platform Coinbase recently praised Canada’s approach to overseeing the sector as it battles regulators in the U.S. Despite the country’s approach to regulating digital assets being quite strict, with a promise to tighten rules for crypto exchanges following the collapse of well-known businesses like FTX in 2022. The legislator committee also wants the Canadian government to establish a unique legal framework for stablecoins that sets them apart from other crypto assets, akin to the Markets in Crypto Assets (MiCA) framework of the European Union, which treats stablecoins as a separate class of assets.Other suggestions include establishing rules for cryptocurrency custody platforms, taking steps to enable blockchain companies to use banking services, and making sure that cryptocurrency mining operations are fairly taxed. “While many emphasized Canada’s strong regulatory safeguards, such as provincial securities regulation and federal anti-money laundering and anti-terrorism financing obligations, witnesses stated that governments need to partner with industry to better understand this rapidly evolving sector and enact regulations that protect consumers without unnecessarily hindering innovation,” the committee said in

King Charles on Thursday gave his approval to a U.K. bill, the final official step before it becomes law, granting regulators the authority to oversee cryptocurrencies and stablecoins.The Financial Services and Markets Bill becomes an Act and includes provisions to incorporate crypto and stablecoins under the purview of regulation after receiving royal assent, a purely formal step following agreement from MPs. The upper chamber of Parliament last week approved the bill. Following the United Kingdom’s exit from the European Union, the Act “gives us control of our financial services rulebook,” allowing regulation of crypto assets to encourage their secure adoption in the United Kingdom, according to Financial Services Minister Andrew Griffith.The legislation, which was submitted in July 2022, increases the authority of regulators over the financial sector, including cryptocurrency. The addition of modifications to treat all cryptocurrency as a regulated activity and to oversee crypto marketing occurred while the bill was being discussed in Parliament.Stablecoins will also be covered under the bill’s payment regulations. The Financial Conduct Authority, Bank of England, Treasury, and Payments Systems Regulator of the United Kingdom will soon be able to propose and enforce regulations to control the industry. To support the Conservative Government’s goal of making the nation a hub for the cryptocurrency industry, the Treasury has been conducting consultations on its proposed regulations for the industry since February. Griffith told CNBC in April that new specific regulations for the cryptocurrency industry could be introduced in the next year.

According to a notification from the U.S. commodities watchdog, a former New York Stock Exchange (NYSE) broker has been forced to pay $54 million in damages and penalties by a federal court for running a fraudulent crypto trading scam.According to the Commodity Futures Trading Commission (CFTC), a judge in the Southern District of New York court barred Ohio resident Michael Ackerman from trading in any markets under the watchdog’s jurisdiction.Ackerman was charged with fraud in 2020 after he allegedly defrauded 150 investors out of $33 million by promising “extraordinary profits.” Ackerman amended his plea in September 2021 after previously entering a not guilty plea to operating the scam.The CFTC enforcement case against Ackerman is concluded as a result of the final order, which was signed on June 13 and was announced by the regulator. “It also requires him to pay $27 million in restitution to defrauded victims and a $27 million civil monetary penalty in connection with a fraudulent digital asset trading scheme,” the notice said.

Market analysts are currently evaluating the likelihood that the US Securities and Exchange Commission (SEC) will approve the venture following the recent frenzy of Bitcoin spot exchange-traded fund (ETF) filings.The top analyst for Bloomberg thinks that BlackRock, a company that manages assets, has a 50% probability of receiving what it wants. Eric Balchunas, senior market analyst at Bloomberg, stated that BlackRock has an equal probability of having its Bitcoin spot ETF file approved by the US SEC in a tweet on June 27.Balchunas ascribed the likelihood to knowledge gained about Grayscale, another well-known asset management company, from his colleague. Elliot Stein, a senior litigation analyst for Bloomberg Intelligence, claimed that Grayscale had a 70% success rate in its legal battle with the SEC for the authority to convert its Grayscale Bitcoin Trust (GBTC) to an ETF.Following oral arguments before a panel of three judges earlier this year, Stein said that the chances considerably increased from 40% to 70%.These federal judges appeared to favor Grayscale’s position as events developed, increasing the likelihood of a favorable decision.The SEC could be preparing for a significant loss with such a high figure, but the leading agency is not going down without a fight. Stein suggested that, out of spite, the SEC would eventually agree to a Bitcoin spot ETF around the time a decision on its lawsuit against Grayscale will be rendered.The regulatory body, headed by Gary Gensler, would therefore prefer to work with a “trusted” and reputable asset management company like BlackRock.Due to this, the $10 trillion corporation has a good chance of achieving its goals in the upcoming weeks. Even though its CEO Larry Fink has previously made disparaging remarks about the digital asset market, BlackRock has been one of the companies paying close attention to it. Fink’s perspective has changed recently, though.He stated that it appears that many individuals are interested in Bitcoin.He said that 3,000 hits for monetary policy and 600,000 for Bitcoin were recorded on the BlackRock website. A big surge occurred in the last week, with Bitcoin surpassing the $30,000 mark, as a result of this abrupt shift in the narrative and the influx of institutional investors into the cryptocurrency industry.

The first tokenized carbon credit transactions were resolved utilizing the Chia blockchain by Carbon Opportunities firm, a private equity firm for the advancement of carbon credit verification. The fund was created on Chia by World Bank affiliate International Finance Corporation (IFC), and investment company Sumitomo Corporation of Americas (SCOA) purchased a batch of tokenized carbon

The Ledger Enterprise Tradelink network, announced recently to have signed up a number of crypto exchange and broker partners including Crypto.com, Bitstamp, Huobi, Uphold, CEX.IO, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk and YouHodler. With an open, enterprise-grade trading platform created to satisfy their risk management and regulatory standards, Ledger, a company best known for its

Following criticism from international regulators, Horizen, a self-described layer 0 blockchain, has abandoned its privacy coin moniker. The choice was made under pressure from regulators over privacy currencies. Following the publication of draft guidance by the European Banking Authority in March that highlighted the anti-money laundering risk connected with the tokens, the cryptocurrency exchange Huobi

JPMorgan’s economists offered some light on the global perspectives they anticipate revealing in 2023 and 2024.They contend that there is a greater chance of the US entering a recession than of preventing one.The investment bank outlined four likely global outlook scenarios, with the “boil the frog” recession emerging as the justifiable consequence, according to a statement by Business Insider. The expression “boiling the frog” is frequently used to describe a scenario in which individuals ignore a potential issue until it worsens and eventually bubbles over.The company highlighted the likelihood of a recession by stating that it is the most likely result.The outcome, which has a 36% likelihood, involves the US entering a recession along with the rest of the world’s economies.The main cause of this problem is aggressive monetary tightening in reaction to inflation, which JPMorgan expects to remain consistently high.  “The Central bank aspirations for a soft landing have tempered the pace of tightening. However, hopes for a painless slide in inflation back to target are likely to be dashed, requiring policy to turn sufficiently restrictive to break the back of the expansion,” the analysts explained. “Broad-based developed-market tightening points to a more