The Monetary Authority of Singapore (MAS) is introducing proposals to better regulate the cryptocurrency industry in the aftermath of the bankruptcy of the Singaporean crypto hedge fund Three Arrows Capital (3AC). The central bank of Singapore has issued two consultation papers on proposals for regulating the operations of digital payment token service providers (DPTSP) and
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According to Apple’s latest guidelines for developers seeking to have their apps included in the App Store, crypto exchange applications should only facilitate the transfer of crypto funds to approved exchanges. Where payments are needed to unlock features or functionality, Apple says apps may only “use in-app purchase currencies.” Only In-App Purchase Currencies May Be
Bitcoin (BTC) saw its highest levels since mid-September on Oct. 26 as BTC/USD approached the pivotal $21,000 mark. Bears lose big as Bitcoin climbs Data from Cointelegraph Markets Pro and TradingView showed the pair tackling $20,700 at the time of writing, up over 7% in 24 hours. What began as an assault on $20,000 continued
A poll conducted by the Crypto Council for Innovation (CCI) has shown that a candidate’s position on crypto may impact the outcome of the United States midterm elections. Significant numbers of voters are well-disposed toward crypto and want to see it treated as a serious and valid part of the economy, and bipartisanship is strong
Financial services companies Paypal and Western Union have each filed three new trademark applications covering a wide range of crypto services. Paypal’s applications are also for the payments giant’s logo. Paypal’s New Trademark Filings for Crypto Services Paypal Inc. has filed three new trademark applications with the United States Patent and Trademark Office (USPTO). Mike
On October 25, the bitcoin mining operation Cleanspark announced that the firm’s hashrate now exceeds 5 exahash per second (EH/s), a milestone achieved more than two months ahead of the company’s original year-end goals. Cleanspark says it now aims to surpass 5.5 EH/s by the year’s end by increasing the miner’s hashrate goal by 10%.
Crypto staking platform Freeway pointed at the failure of one of its trading strategies, along with market conditions as the leading reason for halting user withdrawals earlier this week. The crypto yield platform on Oct. 23 announced it was halting various transactions relating to its high-yield “Supercharger” product, citing “unprecedented volatility” at the time, without giving
Britain’s former Chancellor of the Exchequer Rishi Sunak has become the country’s new prime minister, succeeding Liz Truss who resigned after 44 days in office. The leader of the Conservative Party previously said: “It’s my ambition to make the U.K. a global hub for cryptoasset technology.” Rishi Sunak Takes Office as U.K. Prime Minister Rishi
Nearly half of Gen Z and Millennials want to see crypto become a part of their 401(k) retirement plans, according to an October survey from United States asset manager Charles Schwab. Asking participants what they would like to see added to their 401(k) retirement products, the firm found that 46% of Gen Z and 45%
Treasury Secretary Janet Yellen has warned that financial stability risks could materialize in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector, as global developments have led to increased market volatility.” Janet Yellen Warns of Financial Stability
The U.S. has charged two Chinese intelligence officers in a scheme to bribe a U.S. government employee to steal “secret” documents relating to the prosecution of a company in China. The defendants paid the government employee, who is actually a double agent, approximately $61,000 in bitcoin for stealing the information, according to the U.S. Department
Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit of Mango Markets, according to a proposal on Compound’s governance forum that was recently passed. With the pause, users will not
The United States Department of Justice has announced charges against two Chinese intelligence officers who allegedly bribed a double agent with Bitcoin. In an Oct. 24 announcement, the Justice Department said Guochun He and Zheng Wang attempted to obstruct the prosecution of an unnamed global telecommunications company based in China, which allegedly involved paying a
The Chinese yuan’s offshore exchange rate against the U.S. dollar fell to a new all-time low of 7.33:1 just over a day after the conclusion of the Chinese Communist Party’s congress which gave President Xi Jinping the mandate to lead the country for the third time. Concerns over Xi’s unprecedented third term, as well as
The crypto market is finally showing relief after days in consolidation mode; Ethereum is leading the market with significant profit on lower timeframes. The second crypto by market capitalization is reclaiming its position as a market leader. The last time ETH’s price displayed this price action was in September before “The Merge.” At the time
While the U.S. Federal Reserve ramped up the benchmark bank rate with a barrage of rate hikes, U.S. Treasury markets and global bond markets, in general, have seen one of the worst selloffs in over a decade. The Fed’s actions has fueled criticism toward the U.S. central bank as some strategists believe the onslaught of
Several Democratic members of the United States Senate and House of Representatives have requested information from top regulators and agencies in the country regarding crypto firms hiring government officials upon their departure. In letters dated Oct. 24 addressed to the heads of the Securities and Exchange Commission, Commodity Futures Trading Commission, Treasury Department, Federal Reserve,
The share of the Bitcoin (BTC) network controlled by publicly held mining companies could grow to 40% by mid-2023, according to a new report by Hashrate Index. But this could bring more stress to an already bearish BTC market. Public Bitcoin miners’ hash rate jumps 295% in a year The outlook appeared after assessing the hash rate
October witnessed a surge in Bitcoin’s (BTC) hash rate which is pushing the metric to a new high of 245 Exahashes per second. These changes led to a sharp decrease in the hash price, resulting in a drop in the profit margins for BTC miners reaching a low of $66.8 USD/PH (per one quadrillion hashes
Dogecoin rose to a one-week high on Tuesday, as the meme coin rebounded from recent losses. The token rose by as much as 3% earlier in today’s session, moving away from a recent point of support in the process. Monero was also higher, as bulls pushed it closer to a key resistance level. Dogecoin (DOGE)