Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms. The FIU has notified its investigative authority that 16 virtual asset service providers have been carrying out business without the necessary registrations. Major exchanges, including the likes
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Bitcoin (BTC) shifted higher on Aug. 18 as the latest data confirmed the European Union’s highest ever inflation. Support and resistance close in on BTC spot price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD passing $23,500 at the time of writing, having preserved $23,000 as support overnight. Concerns over a deeper risk asset
Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts in the country. Experts say, however, that Russia has the spare capacities to satisfy
David Schwartz, the chief technical officer of Ripple, didn’t take Ethereum co-founder Vitalik Buterin’s dig on XRP very kindly. In a discussion that started around the recent $30,000 limit imposed by the Ontario crypto exchange on altcoins purchases barring Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Buterin, in a quoted response to a tweet,
The majority of 4,653 active Ethereum nodes are in the hands of centralized web providers like Amazon Web Services (AWS), which could “expose Ethereum to central points of failure,” according to crypto analytics platform Messari. A Monday post shows that three major cloud providers account for 69% of hosted nodes on the Ethereum Mainnet, with over
Meta, the social network company, has expanded the services of its flagship metaverse app, Horizon Worlds, to Spain and France. This move is part of the expansion plan of Meta to offer these services to more countries in Europe this year. While the app was available as an invite-only service in 2020, it just opened
While some think the Tornado Cash ban may negatively impact other projects focusing on privacy, others believe that these projects will keep pushing forward and keeping their commitments to anti-censorship and decentralization. In an interview with Cointelegraph, Ahmed Ghappour, the general counsel at the privacy-focused project Nym Technologies, shared insights on the importance of privacy
Australian asset manager Monochrome Asset Management has landed the country’s first Australian financial services license (AFSL) for a spot crypto exchange-traded fund (ETF). Speaking to Cointelegraph, Jeff Yew, CEO of Monochrome Asset Management, said the AFSL approval is significant, as until this point, approved crypto ETFs in Australia only operate under general financial asset authorization
The U.S. Federal Reserve Board has said it has released the final guidelines which are set to be used by Reserve Banks when “reviewing requests to access Federal Reserve accounts and payment services.” According to the board, the final guidelines will become effective as soon as they are published in the Federal Register. New Guidelines
The crypto community has poured in an impressive $54 million worth of crypto funds through “Aid For Ukraine,” aimed at supporting the country’s military efforts against Russia, the Ukrainian Deputy Prime Minister has revealed. The $54 million has been funneled in through the Ukrainian government-run initiative ‘Aid For Ukraine’, according to Ukraine’s Deputy Prime Minister
Canada-based crypto exchanges Bitbuy and Newton are enforcing a 30,000 Canadian dollars annual “buy limit” for “restricted coins” for their users based in Ontario in order to “protect consumers” amid tightened regulations. Newton, a Toronto-based crypto exchange announced the new changes come after working on getting registered with the Ontario Securities Commission and the securities regulatory authorities
U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to establish a European crypto hub in the island nation. Revolut to Expand Crypto Services for Europeans From Cyprus A leader in the neobank
The European Central Bank (ECB) says the introduction of digital cash in the form of central bank digital currencies (CBDCs) appears to be the “only solution” that will guarantee a “smooth continuation” of the current monetary system. The comments were made as part of an ECB Working Paper Series, which was published in August, discussing monetary
Chainalysis has found that illicit crypto volumes are down this year, with total scam revenue sitting at $1.6 billion, 65% lower than where it was through the end of July last year. “Those numbers suggest that fewer people than ever are falling for cryptocurrency scams,” the blockchain data analytics firm wrote. Data Shows Illicit Crypto
A South Korean town near Seoul has been successfully operating a pilot program that allows police to seize crypto from the exchange accounts of individuals with delinquent traffic fines. Gunpo, a city of about 275,000 in the northwestern Gyeonggi province was selected by the national government to execute the pilot program in 2022 which an
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says it’s time to open his closed mind after listening to economist Harry Dent. He is now buying 2-year U.S. Treasury bonds despite repeatedly saying he does not invest in anything printed by the Federal Reserve or Wall Street. Robert Kiyosaki Influenced
The United States Federal Reserve Board issued a letter Tuesday to its supervisory officers, staff and the banks they supervise regarding activities with crypto assets. The letter covers the preliminary steps a bank must go through before engaging in activities with crypto and instructs banks to notify the board before proceeding with those activities. The
Ether options have been trading for a much shorter time compared to Bitcoin options, but the former has done an impressive job catching up with its predecessor. Bitcoin had dominated as the leading crypto options asset in the space, with billions pouring into it. However, the tide had begun to turn in the 3rd quarter
The European Central Bank, or ECB, laid the foundation for the criteria it would be considering when harmonizing the licensing requirements for crypto in Europe. In a Wednesday statement, the ECB’s banking supervision division said it would be taking steps to regulate digital assets given “national frameworks governing crypto-assets diverge quite extensively” and seemingly differing
On Wednesday the Ethereum Foundation clarified that The Merge will not reduce onchain fees as the highly anticipated transition from proof-of-work (PoW) to proof-of-stake (PoW) is now 29 days away. Amid The Merge update from the Ethereum Foundation, during the last month, Ethereum network costs have printed some of the lowest onchain fees since 2020.