The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in…
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Osmosis, a proof-of-stake (PoS) blockchain with a decentralized exchange (DEX) application within the Cosmos (ATOM) ecosystem, has been exploited to the tune of some USD 5m. The project’s official Twitter account confirmed the hack but denied allegations that liquidity pools were completely drained. “Devs are fixing the bug, scoping the size of losses (likely…
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Japanese crypto exchanges appear determined to take advantage of favorable political winds and expand the range of coins they trade on their platforms – although the national financial regulator has indicated that it will not let them have the final say on the matter…. Read More: Japanese Crypto Exchanges Want to Ditch Restricting Token…
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US digital asset-focused bank Custodia has filed a lawsuit against the Federal Reserve (Fed) Board of Governors and the Federal Reserve Bank of Kansas City, accusing the two institutions of “unlawfully” delaying its application for a master account with the Fed for 19 months…. Read More: US Crypto Bank Custodia Sues the Fed Over…
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All five of South Korea’s licensed, fiat-trading crypto exchanges have announced they will delist litecoin (LTC) after developers rolled out the Mimblewimble Extension Block protocol. The five exchanges – Upbit, Bithumb, Coinone, Korbit, and Gopax – all made their LTC delisting announcements “all at once,” News1 reported. This represents a first for the South…
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Online payment giant PayPal now allows select customers in the US to transfer cryptoassets from their accounts to external wallets and exchanges. “Starting today [June 7], PayPal supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges,” Jose Fernandez da Ponte, SVP and general manager of blockchain, crypto, and digital currencies…
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In addition to eco-friendly components, the IMF recommended central banks to include other features in the CBDCs, such as compliance, higher resilience and offline capabilities. An International Monetary Fund (IMF) study on energy consumption revealed the importance of design choices within the crypto ecosystem to build an environmentally friendly mainstream payment system. In the study entitled…
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Whale buying and selling has effectively told traders how to position their bids and asks, data reveals. Bitcoin (BTC) left both long and short traders behind in May and June, but data suggests trading it may be “easier” than many imagine. According to on-chain analytics resource Whalemap, Bitcoin whales have all but dictated market performance…
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Telegram announced that the anonymous account’s claims are “baseless” and are made to “get users to download malware.” This week the crypto community’s attention was captured by an anonymous person who claimed that they will expose the misdeeds of prominent crypto influencers and top projects within the crypto space. The alleged whistleblower, going by the…
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Speaking to Cointelegraph on Wednesday, Swyftx co-CEO Ryan Parsons revealed that its long-term plans are to explore ways to offer trading between traditional and crypto asset classes. Australian crypto exchange Swyftx wants to eventually offer seamless trading between traditional and crypto-asset classes, with its first step being the completion of its $1.5 billion merger deal…
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