El Salvador made history in September 2021 by becoming the first country to establish Bitcoin as a legal tender. The move was aimed at countering hyperinflation and dependence on the US dollar, which has long been a significant concern for the country. Since then, El Salvador has been restrategizing its Bitcoin investments and utilizing capital
Bitcoin (BTC) rewards app Fold and Visa (V) have expanded their ongoing partnership. The U.S. payments giant will now serve as the exclusive network partner for Fold’s prepaid debit products in North America, Europe and Latin America and the Caribbean, Fold said. The bitcoin-friendly shopping app Fold first partnered with Visa in 2020 to issue
Failed FTX founder Sam Bankman-Fried was charged with directing $40million bribe to a Chinese official to unfreeze assets relating to his cryptocurrency business. In the new charges against the former FTX CEO, he was accuse of paying off a Chinese official to gain access to trading accounts frozen by Chinese authorities. The prosecutor added that the
The CEO of the Galaxy Digital Mike Novogratz, informed investors he is shocked at the amount of regulatory focus on cryptocurrency rather than the Artificial Intelligence (AI), a technology he says is causing identity crises. The digital investment CEO, explained that the U.S. government had its focus “completely upside-down,” stating that AI posed more threat to
The new world of Digit asset (cryptocurrency) has witnessed a massive growth in various part of the world starting from the European nations to Asia and down to the Africa continent. The digital currency which is designed to tackle the issue of third party and physical transactions is structured in a decentralised and centralised Exchange
The United Kingdom has suspended plan to lunch the governmental backed “NFT for Britain” which was proposed by the British prime minister, Rishi Sunak. In regard to a question raised by a conservative politician Harriett Baldwin, Andrew Griffith who is the Treasury’s economic secretary confirmed that: “In consultation with HM Treasury, the Royal Mint is not proceeding with
Large crypto-asset transfers from anonymous self-hosted wallets would be banned under plans set to be voted on by European Union lawmakers on the 28th of March. On Tuesday, the European Parliament’s Economics and Civil Liberties Committees are set to vote on new anti-money laundering (AML) plans after wrangling for months about how to stop cryptocurrencies,
The web3 game developer Animoca, has denied recent reports that it has scaled back its metaverse fund target and experienced a significant drop in its valuation. The venture capital firm denied claims that it had reduced its metaverse fund target by $200 million, or 20%, to $800 million amid volatility in the crypto market and instability
Towards the upcoming G7 meeting in Hiroshima this May, Japan, The United States, The United Kingdom, Canada, France, Germany, and the European Union are expected to collaborate to provide a cooperative strategy for tougher global cryptocurrency regulations. The plan follows the collapse of the major cryptocurrency exchange FTX in November, which has laid bare the poor governance
The Securities and Exchange Commission (SEC) issued coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. The SEC futher alleged that the company’s staking products constitute unregistered securities. In regard to this, coinbase mentioned that the issue is “an undefined portion of our listed digital assets, our staking service Coinbase Earn, Coinbase
Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro. The former cryptocurrency king was apprehended at the Podgorica airport with forged documents and an eight-count indictment against was made public in the US District Court in Manhattan. A federal grand jury
Nasdaq (NDAQ) is aiming to debut its crypto custody services by the end of the second quarter, the stock market exchange operator’s senior vice president and head of digital assets, Ira Auerbach, reiterated that the firm is working on getting the necessary infrastructure and regulatory approval in place. Nasdaq applied to the New York Department
A number of fintech payment companies and offshore banks are trying to fill the void left by the collapse of Silvergate Bank, Silicon Valley Bank and Signature Bank in the U.S., but it will likely take time before new banking networks are established, JPMorgan (JPM) explained in his weekly report. “In the meantime, crypto market
Huang Tien-mu, Taiwan’s Financial Supervisory Commission Chairman informed lawmakers that the nation is in the process of creating a special legislative framework to govern cryptocurrency and its related activities. He made this announcement during a parliamentary hearing on global banking stability. The FSC chair, Huang Tian-mu, unofficially announced the FSC’s new role, which was cited
