Since halting user withdrawals three weeks ago, CoinFLEX has announced plans to reclaim up to $84 million in owed funds. Cryptocurrency exchange CoinFLEX is partially reopening user withdrawals, raising cautious optimism that the company was gradually recovering from liquidity constraints that were triggered by a high-profile client default. Beginning at 5 am UTC on Friday,…
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Bitcoin briefly broke back into the $20,000 region on Thursday, following a volatile day of trading. Volatility in crypto markets came as data released showed that inflation in the United States had risen to its highest level in over four decades. ETH also briefly rose above $1,100. Bitcoin BTC was marginally higher on Thursday, as…
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A new report by the European Central Bank (ECB), presented as a “deep dive into crypto financial risks,” calls for “appropriate” regulation and oversight of stablecoins and decentralized finance (defi). It also addresses the hot topic of Bitcoin’s carbon footprint in Europe, suggesting a ban on proof-of-work mining is probable. Growth of Stablecoins, Defi Warrants…
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Popular BTM operator, Bitcoin of America, is changing the way we think about the cryptocurrency industry. Bitcoin of America is a virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). They currently have 2,500 plus Bitcoin ATM locations across 31 states. They offer Bitcoin, Litecoin, Ethereum, Dogecoin,…
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Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital (3AC). Celsius Follows Voyager, Files for Chapter 11 Bankruptcy Crypto lender Celsius Network announced Wednesday…
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Kazakhstan’s President Kassym-Jomart Tokayev has approved new tax rates for crypto miners – and tax bodies have been instructed to charge miners at a rate of up to USD 0.052 per kilowatt hour (kWh) as of January 1, 2023. Currently, miners have to pay a flat rate of just over USD 0.002 per kWh consumed.…
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Reports that prosecutors in the Darnytskyi District of Kyiv, Ukraine, have recently busted a gang of over-the-counter (OTC) crypto brokers – who allowed individuals in Russia and areas under Russian control to swap silver, cash, and land for cryptoassets – appear to be somewhat wide of the mark…. Read More: No, Ukrainian Prosecutors Didn’t Just…
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While NFTs are not banned in China like cryptocurrencies, the government has warned against fraud risks associated with the nascent sector. China’s internet giant Tencent has reportedly shut down one of the two nonfungible token (NFT) platforms owing to declining sales aided by the regressive monetary policies of the Chinese government. Tencent shut down one…
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Major South African exchanges have welcomed the central bank’s plans to regulate cryptocurrencies as financial assets. South Africa’s Reserve Bank is set to begin regulating cryptocurrencies as financial assets in the next 18 months, with exchanges expecting the move to drive adoption in the country. The move to classify cryptocurrencies as financial assets and not currency,…
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The license will allow crypto exchange OKX to offer services and products to investors and financial services providers in Dubai. Crypto exchange OKX has acquired a provisional virtual assets license granted by the Dubai Virtual Assets Regulatory Authority (VARA), allowing them to offer additional services to qualified investors and financial services providers in Dubai, United…
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