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Day: October 7, 2021
Moneygram Partners with Stellar Blockchain Network to Enable Instant Crypto-To-Fiat Settlements Using USDC Stablecoin
MoneyGram International Inc has partnered with the Stellar blockchain network to enable instant money transfers using Circle’s USDC stablecoin. Traditional cross-border payments giant MoneyGram announced on Wednesday, October 6, that it is working with the Stellar Development Foundation to launch the new service. Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, talked about the development and said that MoneyGram’s network would integrate with the Stellar blockchain to enable cash payments and funding in multiple currencies such as Japanese yen, US dollar, and others, using USD coin (USDC)…
Riot Blockchain Yearly Bitcoin Production Increases by 236%, Accumulates $194M in BTC
On October 6, a NASDAQ-listed blockchain mining company, Riot Blockchain, announced that its Bitcoin production capacity in September has increased by about 346% to 406 BTC year-on-year comparing to last year. Meanwhile, the yearly Bitcoin mining production recorded an increase of approximately 236% for the first nine months. Riot Blockchain said that as of September this year, the company has mined 2,457 BTC. Thanks to the positive statement of the US SEC that it won’t follow China’s comprehensive ban on virtual currencies, bitcoin has risen by 5.87% in the past 24 hours and by 25.41% in 7 days.…
3 warning signs suggest the Bitcoin price rally is overextended
Bitcoin (BTC) faced fresh doubts over the strength of its bull run on Oct. 7 as analysts eyed a potential reversal of Wednesday’s short squeeze. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Funding rates in the red zone Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it hovered near $54,000 after failing to establish support at the $55,000 mark. The previous day had seen an abrupt surge to highs of $55,700 for Bitcoin, which was accompanied by major buying pressure. As funding rates flip positive across exchanges, however, concerns…
Russia aims to limit crypto purchases by non-accredited investors
Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, argued that Russia needs to adopt new laws to protect retail investors from the potential losses of investing in crypto, local news agency Interfax reported on Wednesday. To this end, lawmakers in the country’s parliament are reportedly considering new legislation to limit cryptocurrency investments by non-accredited investors, he stated. The official delivered his remarks during a Bank of Russia-backed event devoted to financial consumer protection. “Digital currencies are subject to our enhanced focus, and we will look to provide…
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Ukraine President Zelensky Returns Law ‘On Virtual Assets’ to Parliament – Regulation Bitcoin News
The Ukrainian president has sent the recently adopted law “On Virtual Assets” back to the Verkhovna Rada, the country’s legislature. The head of state has come up with his own suggestions and opposed the establishment of a new regulatory body that would require additional financing. Setting Up New Crypto Market Regulator Will Be Expensive, Zelensky Warns Ukrainian parliament adopted the long-awaited law “On Virtual Assets” in early September when lawmakers approved the bill on second and final reading. The legislation, designed to regulate crypto-related activities in the country, passed its…
Bitcoin’s Technical Bias Flips Bullish as Price Climbs Above Descending Trendline
Bitcoin ran through key technical resistance levels on Wednesday, strengthening a bullish bias, and extended gains Thursday. The cryptocurrency jumped above $55,000 yesterday, breaching the downtrend line connecting the April high of $64,801 and September highs near $52,000. Buyers also flipped the horizontal resistance at $53,000 into support, having taken out a significant hurdle at $51,109 earlier in the day. That level marked the widely tracked 61.8% Fibonacci retracement of the September sell-off. “BTC/USD technicals flipped into the bullish territory after breaking above a key trend line,” research boutique Delphi…
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FSB Says Adoption of Global Stablecoin Regulations Shows ‘Gaps’ and ‘Fragmentation’
The Financial Stability Board (FSB) published a report Thursday outlining progress made, or lack thereof, by 48 jurisdictions on the “Regulation, Supervision, and Oversight of ‘Global Stablecoin’ Arrangements” since it was first introduced by the global watchdog last year. The FSB, an international body charged by the G20 for monitoring and making recommendations regarding the stability of the global financial system, said the implementation of its 10 “recommendations” for regulating stablecoin data safeguards from October 2020 was still at an “early stage.” “Jurisdictions have taken, or are considering, different approaches…