South African financial service providers have been primed to offer cryptocurrency products and services to customers after regulatory amendments in the country. This comes after South Africa’s Financial Sector Conduct Authority amended its financial advisory act from 2002 on Oct. 19, defining crypto assets in the country as financial products. Most importantly, the definition means
There’s no denying that the world is currently facing an unprecedented energy crisis, one that has compounded severely in the aftermath of the COVID-19 pandemic so much so that countries across the globe — especially across Europe and North America — are witnessing severe shortages and steep spikes in the price of oil, gas and
A group of hackers have taken advantage of typing mistakes in order to introduce malware to Android phones and Windows-based PCs. Using a technique called typosquatting, which consists of registering domains that are dramatically near to the ones of official brands of organizations, hackers are getting data and private keys from unsuspected users, according to
Despite the ongoing cryptocurrency bear market, investors have been increasingly looking at Bitcoin (BTC) as a safe haven, a new study suggests. The rise in the correlation between Bitcoin and gold (XAU) is one of the major indicators demonstrating investors’ confidence in BTC amid the ongoing economic downturn, according to digital strategists at the Bank
The United Kingdom could be warming to Bitcoin (BTC) and crypto. Taking a timeout from Scotland’s first major Bitcoin conference, Cointelegraph spoke to Dr. Lisa Cameron, a Member of Parliament who is spending more and more time working with digital assets. Cameron told Cointelegraph: “I have spoken to companies who are involved in CBDCs and
Near Protocol’s in-house stablecoin, USN, recently became undercollateralized, forcing Near Foundation to recommend winding down USN to prevent a situation similar to the Terra (LUNA) and UST collapse. Supporting this move, the Near Foundation opened up a $40 million fund to protect investors and help them cash out of USN with equal amounts of wrapped
Yellow Card, an Africa-focused cryptocurrency exchange platform, recently said it has received a virtual asset service provider (VASP) license to operate in Botswana. Granted by the country’s Non-Bank Financial Institutions Regulatory Authority, Yellow Card’s license allows the crypto exchange to bolster its operations on the continent. Working With Regulators The Africa-focused cryptocurrency exchange platform, Yellow
The United States Securities and Exchange Commission’s (SEC’s) more-than-enthusiastic crackdown on the crypto industry is being seen as a positive signal for the majority of crypto investors, according to a new survey. Around 60% of 564 survey respondents in the latest MLIV Pulse survey from Bloomberg said they viewed the recent flurry of crypto crackdowns
Bitcoin (BTC) “will break out significantly” in the next month, with an upside target of $30,000. That was the latest prediction from Michaël van de Poppe, founder and CEO of trading firm Eight. Analyst on November price target: “My guess is probably $30K” In a tweet on Oct. 25, Van de Poppe joined a growing
No matter how much attention the United States Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission gets in the crypto industry, for individual traders and investors, it often comes down to the Internal Revenue Service’s (IRS) position — and how much tax one owes. Last week, the IRS last week released a draft
The United States Department of Justice recently filed a lawsuit to recover $60 million that was imposed on Larry Harmon, the operator of a bitcoin mixing service targeted by U.S. law enforcement in 2020. According to U.S. authorities, Harmon had operated an unlicensed money-transmitting business. Violation of the Bank Secrecy Act The United States Department
Australia’s financial regulator has issued a stark warning to Australian crypto asset providers amid launching civil proceedings against Australian firm BPS Financial Pty Ltd (BPS) over “misleading” representations concerning its Qoin crypto token. In an Oct. 25 announcement, the Australian Securities and Investments Commission (ASIC) said it has commenced civil penalty proceedings against BPS Financial
The CEO of venture capital firm Hashed and early Terra (LUNC) investor Kim Seo-joon has cited “extreme stress” following the Terra crash as the reason for his no-show at South Korea’s National Assembly’s Political Affairs Committee. Seo-joon was one of six people selected to take part in the South Korean parliament’s latest inquiry to better
The Tel-Aviv Stock Exchange, the only public stock exchange in Israel, has announced that it is entering the crypto space and creating a platform for digital assets. “The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets,” said the
Hong Kong and Singapore’s wealthy elite appear to be looking at digital assets with fervor, after a new report from KPMG suggesting over 90% of family offices and high-net-worth individuals (HNWI) are interested in investing in the digital assets space or have already done so. According to an Oct. 24 report from KPMG China and
JPMorgan Chase’s president that crypto “is kind of irrelevant in the scheme of things.” Commenting on the U.S. economy, he defended the Federal Reserve’s hawkish stance, emphasizing that if the Fed’s action “causes a slightly deeper recession for a period of time” then “that is the price we have to pay.” JPMorgan Chase President on
The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New IRS Instructions for Tax Form 1040 The Internal Revenue Service (IRS) released its 2022 draft
Ethereum’s long-awaited Merge took place in September, shifting it from a legacy proof-of-work (POW) model to the sustainable proof-of-stake (PoS) consensus algorithm. Many observers expected Ether’s (ETH) price to respond positively as its daily emissions declined 90% with the halt of mining operations. However, the expected price surge never occurred. In fact, Ether has been
Australia’s federal law enforcement agency has highlighted the criminal use of cryptocurrency as an “emerging threat” in the country but says it’s a continuous challenge to keep up the pace with criminals. A spokesperson for the Australian Federal Police (AFP) told Cointelegraph that there has been an “increase in the number of offenders using cryptocurrencies
Nokia, one of the first companies to manufacture a consumer-grade mobile phone system, now believes the metaverse will cause phones to become deprecated. These metaverse experiences will be powered by the use of virtual reality (VR) headsets and augmented reality glasses, and will allow users to interact in several activities. Industrial usage will also be