The central bank of the Philippines, the primary regulator of the country’s crypto sector, has warned investors about engaging with unregistered and foreign crypto service providers. They “may present additional challenges on enforcing legal recourse and consumer protection and redress mechanisms for local customers, among others,” the regulator said. The Philippine Central Bank’s Crypto Warnings
Ksenia Malik, the wife of Tornado Cash creator Alexey Pertsev Wife has lashed out at Dutch authorities for treating her husband like a “dangerous criminal” following his arrest last week. The Dutch Fiscal Information and Investigation Service (FIOD) arrested Pertsev on Aug. 12 over an alleged use of the Ethereum-based privacy tool to launder money
The European Central Bank (ECB) is working to harmonize the regulatory framework governing crypto activities and services in the EU. The regulator noted that several regulatory initiatives at the European and international levels are being finalized. ECB’s Regulatory Plan for Crypto Assets The European Central Bank (ECB) outlined its plan to harmonize the regulatory framework
A Russian national suspected of laundering ransomware payments in cryptocurrency on behalf of cybercriminals targeting hospitals has been extradited to the U.S. by the Netherlands. The man was allegedly involved in the criminal activity for a period of three years before his arrest in Amsterdam last November. Alleged Russian Money Launderer Handed Over to U.S.
Four members of the United States House of Representatives from the Energy and Commerce Committee have demanded answers from four major crypto mining firms in regards to the potential effects of their energy consumption on the environment. In letters dated Wednesday to Core Scientific, Marathon Digital Holdings, Riot Blockchain, and Stronghold Digital Mining, U.S. lawmakers
Despite changes in the asset’s price, Ethereum is steadily adding to the ETH 2.0 staking contract. According to the development team, this occurs about a month before the Merge is scheduled to occur. Ethereum Staked Token Hit New ATH According to Dune Analytics data, more over 13.2 million ETH have been deposited to the staking
After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts will try to pin the correction as a “technical adjustment,” but the network’s deposits and decentralized applications reflect worsening conditions. To date, Avalanche remains 83% below its November 2021 all-time
On August 18, 2022, Bitcoin’s mining difficulty increased again after the 1.74% rise two weeks ago on August 4. At block height 749,952 at 7:07 a.m. (EST) the network’s mining difficulty rose by 0.63% from 28.17 trillion to 28.35 trillion Thursday morning. Bitcoin Network Records Second Consecutive Difficulty Increase Since August 4 Finding a bitcoin
The stablecoin HUSD, originally associated with the crypto exchange Huobi Global, lost its peg with the U.S. dollar on Wednesday, August 17, and it dropped even lower in value the following day on Thursday, August 18. On Thursday, Huobi addressed the public on Twitter and the exchange said “we are aware of the current liquidity
Bitcoin (BTC) long-term holders are knuckling down as a record portion of the BTC supply stays dormant for years. Data from on-chain analytics firm Glassnode confirms that the percentage of the supply now stationary for at least five years is higher than ever. 2017 BTC buyers not this year’s sellers Bitcoin has recovered almost 40%
Bitcoin (BTC) briefly broke above $25,000 on Aug. 15, but the excitement lasted less than an hour and was followed by a 5% retrace in the next five hours. The resistance level proved to be tougher than expected but may have given bulls false hope for the upcoming $335 million weekly options expiry. Investors’ fleeting
FLOW was trading higher on Thursday, as the token rallied upward following seven straight days of declines. The surge comes despite the global crypto market capitalization trading 1.14% lower as of writing. Shiba inu fell by nearly 10% in today’s session. FLOW FLOW was one of Thursday’s notable movers, as the token rebounded following seven
Major Chinese cryptocurrency miner manufacturer Canaan appears to have no issues with the local ban on crypto, as the company’s overall performance has continued to grow in 2022. Canaan officially announced its financial results for the second quarter of 2022 on Thursday, reporting a 117% increase in gross profit from the same period of 2021. According
JPMorgan analyst Kenneth Worthington says digital currency exchanges like Coinbase will end up being a meaningful “beneficiary” of Ethereum’s long-awaited transition from proof-of-work (PoW) to proof-of-stake (PoW). Based on $2K ethereum prices and a 5% ethereum yield, Worthington explained that The Merge could boost Coinbase’s annual income by $80 to $100 million from staking services.
In light of the recent ban on crypto mixing tool Tornado Cash and the subsequent arrest of the Tornado Cash developer, there has been a growing debate around what crypto services providers would choose between decentralization and censorship in form of compliance. The question has become more prominent as Ethereum (ETH) is moving from its
The Prudential Authority of the Reserve Bank of South Africa sent out guidelines in effort to prevent illicit activities to its subsidiaries, which included encouragement not to cut off all ties with cryptocurrency. It suggested that such an act could cause greater risk in the long run. The official notice was signed by the Prudential
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
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,