South Korean prosecutors have raided two of the country’s largest coin trading platforms within an investigation into the crypto investments of a politician. They seized materials from Upbit and Bithumb amid suspicions of wrongdoing related to the lawmaker’s cryptocurrency holdings. South Korean Law Enforcement Authorities Check Records From 3 Crypto Platforms Investigators from the Seoul
Indonesia is introducing a new national payment system as the country furthers its de-dollarization efforts and protection against “possible geopolitical consequences.” The new payment system will replace Visa and Mastercard in state-owned institutions and companies, a top central bank official said. “We expect that very soon it will become widespread.” Indonesia Establishes New National Payment
Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (ETH) stash back from liquid staking platform Lido which enabled withdrawals this week. Celsius initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. According to transaction data it has requested the withdrawal of 428,084 stETH in batches of 1,000.
The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report. The United Kingdom is currently working on a crypto regulatory framework that would mix existing financial asset laws with new crypto-specific rules.
The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest,” she
Bitcoin (BTC) users have been given a possibly more efficient way to mint new assets on the blockchain aft an updated edition of the recently-rebranded Taproot Assets Protocol was released by Lightning Labs. In a May 16 blog post, Lightning Network infrastructure firm Lighting Labs criticized the current methods by which assets are inscribed on
A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist James Brander shared
Following the recent Bitcoin Cash upgrade on Monday, data reveals that approximately 1,308 fungible tokens and 25,336 non-fungible tokens (NFTs) have emerged on the blockchain. Moreover, the Cashtokens token ecosystem is now accessible through the blockchain explorers 3xpl.com and salemkode.com, allowing users to explore its potential. Bitcoin Cash Upgrade Unleashes Token Frenzy and Infrastructure Support
Litecoin rose for a third consecutive session on Tuesday, despite cryptocurrency markets mostly falling lower. The global market cap is currently down by 1.28%, as overall market uncertainty remains high. Apecoin also rallied, extending recent gains. Litecoin (LTC) Litecoin (LTC) was once again in the green, as the token rose for a third consecutive session.
Since May 12, Ether (ETH) price has been struggling to sustain its $1,800 support level as investors face pressures from a worsening crypto regulatory environment and the Ethereum network’s high gas fees. Also negatively impacting Ether’s price are 3 indicators signaling reduced demand for its decentralized applications (DApps) and a lack of leverage buying demand
Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, recently testified before Congress alongside IBM’s chief of trust, Christina Montgomery, and NYU professor Gary Marcus. The Senate judiciary subcommittee session represented Altman’s first official appearance before Congress, giving senators the opportunity to question the OpenAI CEO concerning his company’s views on regulation. ‘If this
Over the past four days, there has been a surge in Ordinal inscriptions, and as a result, the BRC20 token economy has experienced significant growth with over 10,000 additional coins. The current value of the BRC20 token economy now stands at $497.75 million, comprising a total of 24,677 distinct tokens. Bitcoin Users Issued More Than
Cryptocurrency investment group CoinShares recently published its Q1 earnings report for 2023 amid what it’s calling a “return to profitability.” Highlights of the report include revenue in the amount of $11.73 million (down from $22.46 million in Q1 2022), total comprehensive income of $3.62 million (down from $25.83 million in Q1 2022) and an adjusted
press release PRESS RELEASE. SDM Financial is thrilled to announce an upcoming webinar focused on digital asset derivatives, taking place on Tuesday, May 23, 2023, at 10:30AM EDT. The webinar is tailored to provide digital asset mining firms, crypto-focused funds, and digital asset investors with valuable insights into the benefits of digital asset derivatives in
The process of recovering stolen Bitcoin (BTC) from cryptocurrency scams is difficult and complex. The prevalence of cryptocurrencies has led to an increase in scams and other fraudulent practices that prey on the gullible. Numerous people have suffered significant financial losses as a result of falling for different crypto scams, such as phishing, rug pulls
The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. This is the eighth version of the Directive on Administrative Cooperation (DAC), which is a set of procedures for automatic information sharing between European governments for tax purposes. DAC8 was proposed in December and approved May 16
On May 15, 2023, the number of Ordinal inscriptions surpassed the 7 million mark and as of 9:00 a.m. Eastern Time on Tuesday morning, 7,204,882 Ordinal inscriptions have been added to the Bitcoin blockchain. Miners have collected 1,324 bitcoin in fees by confirming inscription transactions which equate to roughly $35.86 million in added onchain fees.
The government of Iraq issued a ban on using the U.S. dollar for conducting business transactions on May 14. The ban, which is already in effect, is designed to bolster the usage of the Iraqi dinar, the fiat currency of the country, and to reduce the influence of the dollar and its exploitation in black
On Tuesday, the crypto firm Okx announced the launch of a new Ordinals marketplace. The platform is accessible via the Okx Wallet and will enable users to mint and trade Ordinal inscriptions and BRC20 tokens. While the Ordinals marketplace is still in its early stages, users can take advantage of the ability to view and
The price of Lido DAO (LDO) has rebounded to its three-week high of $2.21 as of May 16, up 40% when measured from its local low of $1.57, established four days ago. This impressive double-digit recovery appeared in tandem with other top-ranking crypto assets, including Bitcoin (BTC) and Ether (ETH). However, LDO has greatly outperformed