Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger technology will be “much more convenient.” Russia’s Head of State Urges for Blockchain-Powered International Payments President of Russia Vladimir…
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Cryptocurrencies like bitcoin and ether cannot be classified as securities or investment instruments, according to a communication issued by the financial watchdog in Belgium. The authority has tried to clarify the matter, noting that the digital coins may be subject to other regulations. FSMA: Securities Laws Do Not Apply to Bitcoin and Other Decentralized Cryptocurrencies…
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The chairman of the rural bank, Jean Chalopin, also happens to be the chairman of Deltec Bank, which has Tether and Alameda both on its client list. The bankruptcy proceedings of cryptocurrency exchange FTX have revealed many new aspects of its unethical practices. The latest revelation around its stake in one of the smallest United…
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Two weeks after its initial pledge for Merkle Tree-backed proof of funds, Binance releases its official response to liquidity transparency. Two weeks after Binance initially pledged to develop a proof-of-reserve (PoR) mechanism in response to the FTX liquidity and bankruptcy fiasco, it published its official response. In an announcement on the Binance website, the exchange outlined how…
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A large amount of cryptocurrency kept in a wallet associated with crypto exchange Wex, successor of the infamous trading platform run by alleged money launderer Alexander Vinnik, has moved for the first time since 2017. The 10,000 bitcoins in question, worth over $165 million, have been transferred to new addresses in several transactions. Bitcoin Stored…
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Locals say they are having to contend with vacant apartments and the loss of job opportunities once provided by the collapsed exchange. Following the collapse of crypto exchange FTX, which was headquartered in the island country of Bahamas, Bahamians are reportedly still trying to find a way to make sense of everything, while remaining optimistic…
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The last week of November remained turbulent for the crypto market as majority of the DeFi tokens struggled with the market volatility. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The prolonged crypto winter aided by the…
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Despite the widespread loss of confidence in crypto following the FTX collapse, Bitcoin’s on-chain data gives investors hope. Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin. As pointed out by on-chain analyst Will Clemente,…
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Ardana developers claimed back in January that “almost all of the product/smart contract development is finished.” On Nov. 24, Ardana, a leading decentralized finance (DeFi) and stablecoin ecosystem building on Cardano, abruptly halted development, citing “funding and project timeline uncertainty.” The project will remain open-source for builders while treasury balances and remaining funds will be…
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Starting from January 2023, only licensed cryptocurrency firms will be allowed to provide cryptocurrency trading services to Uzbek citizens. As Uzbekistan prepares to adopt a new cryptocurrency framework in 2023, Uzbek regulators have started issuing regulatory approvals to local crypto service providers. The National Agency for Perspective Projects (NAPP), Uzbekistan’s major cryptocurrency market watchdog, has…
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