Day: January 16, 2022

OCC Comptroller calls for federal collaboration with crypto intermediaries

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The Acting Comptroller of the Currency, Michael J. Hsu, highlighted the need for collaboration and coordination with large crypto intermediaries to better understand the risks within the growing $2 trillion cryptocurrency market.  Speaking at the Transatlantic Finance Forum on the topic of “The Future of Crypto-Assets and Regulation”, Hsu pointed out the various venues — crypto exchanges, nonfungible tokens (NFT) and metaverse — where anyone with an internet connection can invest, adding: “The mainstreaming of crypto has occurred despite regulatory and legal uncertainty, and a series of scams, hacks, and…

Rio De Janeiro to Invest 1% of Its Treasury in Cryptocurrency – Bitcoin News

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Rio de Janeiro, one of the largest cities in Brazil, will invest part of its Treasury in cryptocurrencies. The announcement was made by the mayor of Rio, Eduardo Paes, during Rio Innovation Week. The plan is to turn the city into a cryptocurrency-friendly hub, and there are other tax incentives that will also be put in place to achieve this objective, according to reports. Rio De Janeiro to Invest in Cryptocurrency Rio de Janeiro, one of the biggest cities in Brazil, will reportedly put some of its funds…

Lawyer Points to Agreement Relating to Johann Steynberg’s Extradition to South Africa – Regulation Bitcoin News

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With Johann Steynberg now in custody in Brazil, a lawyer has suggested that South Africa may have to resort to an existing legal assistance agreement with Brazil if it wishes to have the CEO extradited. However, the success of any such extradition will depend on the next steps taken by authorities in Brazil. Steynberg Extradition Options Following the capture of Johann Steynberg, the CEO of Mirror Trading International (MTI) by Brazilian law enforcement, lawyer Darren Hanekom has confirmed that South Africa does have in place a legal assistance agreement with…

22-year-old Indonesian boy makes $1M by selling NFT selfies on OpenSea

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An Indonesian college student has reportedly become a millionaire by selling nonfungible token (NFT) versions of his selfies on the OpenSea NFT marketplace. Sultan Gustaf Al Ghozali, a 22-year-old computer science student from Semarang, Indonesia, converted and sold nearly 1,000 selfie images as NFTs. According to Ghozali, he took photos of himself for five years — between the ages of 18 and 22 — as a way to look back on his graduation journey. Uploading my photo into nft lolhttps://t.co/E3Q4sBmN26#NFT #opensea pic.twitter.com/rD51rdcpzp — Ghozali_Ghozalu (@Ghozali_Ghozalu) January 10, 2022 Ghozali selfies…

Crypto Exchange Bitfinex Stops Servicing Ontario Customers, Asks Users to Withdraw Funds – Exchanges Bitcoin News

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Cryptocurrency exchange Bitfinex has asked its Ontario users to withdraw their funds since they will no longer have access to any services offered by Bitfinex in March. Bitfinex Stops Providing Services to Ontario Customers Crypto exchange Bitfinex announced Friday that it is making changes to the services it provides to Ontario customers. Effective immediately, the firm said that “Ontario customers who do not have balances on the platform will have their accounts closed.” In addition, those who do not have open positions in the platform’s peer-to-peer financing markets will no…

Vitalik Buterin Asks Twitter Followers Which Crypto They Prefer to Overtake Ethereum — Cardano, Tron Favorites – Altcoins Bitcoin News

Ethereum co-founder Vitalik Buterin set up a pair of polls on Twitter asking his followers if 80% of all transactions and savings in the year 2035 are in one currency and it is not ether, which currency they would prefer it to be. He asked them to choose from a number of cryptocurrencies including bitcoin, cardano, solana, tron, and Binance coin. Vitalik Buterin’s Cryptocurrency Twitter Polls Ethereum co-founder Vitalik Buterin set up a pair of polls on Twitter Thursday for the Ethereum community. “You wake up in 2035 and 80%…

Bank of America Says Solana Could Take Market Share From Ethereum, Become the ‘Visa of the Digital Asset Ecosystem’ – Altcoins Bitcoin News

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Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.” Bank of America on Crypto, Ethereum, and Solana Bank of America (BOFA) analyst Alkesh Shah published a research note on cryptocurrency this week arguing that Solana could take market share away from Ethereum. The Bank of America analyst described that Solana “produces a blockchain optimized for consumer use cases by prioritizing…