Category: Cryptocurrency

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Brazilian Securities Regulator CVM Initiates Inquiry Into Tokenization Operations

August 7, 2024

The Brazilian Securities Regulator (CVM) has begun sending letters to tokenization companies, inquiring about the nature of their operations. According to local reports, these letters require issuers to disclose which tokens were issued, their purported classification, and the assets supporting the issuance of such tokens. Brazilian Securities Regulator CVM Investigates Tokenization Companies’ Activities The Brazilian…
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Report States Salvadoran Economy Slowed, Purchasing Power Down as Bukele Fights Inflation

August 7, 2024

A report by FUNDE, an investigative organization in El Salvador, has highlighted that the Salvadoran economy will grow less this year due to a decrease in public investment in infrastructure. Additionally, FUNDE claimed that the purchasing power of Salvadorans is being affected by rising inflation, which is one of the highest among dollarized economies. FUNDE…
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Barefoot Mining CEO: Wars Will Be Fought Over Bitcoin Blockspace

August 7, 2024

Bob Burnett, CEO of Barefoot Mining, a bitcoin mining company providing off-grid “wild” mining services, has declared that wars will be fought over Bitcoin blockspace. In a recent interview, Burnett stated that as bitcoin becomes critical to companies and nation-states, the value of Bitcoin blockspace will be treated as an essential scarce commodity. Barefoot Mining…
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Binance Hit With $87 Million Tax Bill in India

August 6, 2024

Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned over Rs 4,000 crore from transaction fees…
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Wazirx Announces FIR Filing Following Major Cyberattack

August 6, 2024

Indian crypto exchange Wazirx has updated users about the recent cyberattack, confirming the filing of a First Information Report (FIR) to address the hack. Cofounder Nischal Shetty emphasized that a police complaint was made the day after the attack. The FIR, filed nearly 20 days later, is part of an ongoing investigation by the Delhi…
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Coinwire Report: Latam to More Than Double Its Crypto Trading Levels This Year

August 6, 2024

A recent report by Coinwire, a cryptocurrency research portal, predicts that cryptocurrency adoption levels in Latam will more than double in 2024. The report, which examined trading movements on trusted centralized exchanges according to Coingecko, forecasts that crypto trading volumes in the region will reach $7.82 trillion in 2024, with Brazil and Chile being the…
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Financial Analyst States Bitcoin Is ‘Not a Hedge Against Anything’

August 6, 2024

Jacob King, a financial analyst at Whalewire, has stated that he doesn’t consider bitcoin a hedge “against anything.” King stressed that “crypto itself was entirely propped up by stable coin fraud. I warned it would crumble like paper when it starts.” Bitcoin fell under $50,000 on August 5th, as the Japanese stock market also took…
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Market Panic: Bitwise CIO Reflects on Bitcoin’s Resilience Amid Market Turmoil

August 6, 2024

The chief investment officer at asset management firm Bitwise has addressed the current market downturn, drawing parallels with the market crash on March 12, 2020, when the Covid-19 pandemic caused global panic. “People smash the sell button for liquid assets during broad-based panics. But from my seat, today’s events play into the long-term story for…
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Latam Insights Encore: El Salvador’s Proposal Opens the Door for Crypto-Based International Settlements

August 5, 2024

Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the recent proposal from El Salvador to settle their trade transactions with Russia using crypto, and how this might encourage other nations to do the same. El Salvador Might Start…
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Feasibility of Trillion-Dollar Platinum Coin Discussed by US Government, FOIA Documents Show

August 5, 2024

The trillion-dollar coin, an idea that surged as a solution to raising the U.S. debt ceiling on more than one occasion, was recently revealed to have been considered by the government several times. Memos obtained via FOIA requests by journalist Jason Leopold show that, even though it was considered outrageous by some, it was seriously…
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