Day: May 20, 2022

Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations โ€“ Regulation Bitcoin News

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Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the โ€œcarefulโ€ use of cryptocurrencies, he added. Government of Cyprus to Submit โ€˜Attractiveโ€™ Crypto Bill Cyprus has an โ€œenviable positionโ€ in the EU when it comes to innovation, with the second-best progress last year, according to the European Innovation Scoreboard, the countryโ€™s Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos stated at a meeting with…

Stablegains lawsuit, Hashed loses billions, Finder wrong and more…

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Fallout from the collapse of the Terra ecosystem continues to unfold with the United States-based yield generation app Stablegains facing potential legal action over its losses from the event. Users believe Stablegain has allegedly lost up to $44 million worth of deposited funds based on a post on a Terra forum by co-founder Kamil Ryszkowski asking for relief funding. He disclosed that a day before TerraUSD (UST) had lost its peg with the U.S. dollar its usersโ€™ funds totaled over 47.6 million UST from 4,878 depositors. Currently the price of…

This is why Bitcoin should reach $10 million a coin – Paul Sztorc

โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io Paul Sztorc, an independent Bitcoiner, discusses his outlook for Bitcoin’s growth potential with David Lin, anchor for Kitco News at the Miami Bitcoin 2022 conference. Sponsored by: CoinPayments. Visit: Follow David Lin on Twitter: @davidlin_TV ( Follow Kitco News on Twitter: @KitcoNewsNOW ( Follow Paul Sztorc on Twitter: @Truthcoin ( 0:00 – Bitcoin maximalism 5:15 – Bitcoin’s fair value 8:40 – Economic problems 10:36 – Crypto winter 11:53 – Bitcoin vs altcoins 12;50 – Soft fork #Bitcoin #crypto #investing __________________________________________________________________ Kitco News…

MetaOasis AVAX Hackathon News Report โ€“ Press release Bitcoin News

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press release PRESS RELEASE. MetaOasis Wins the Double in Hackathon Competitions Three months ago, MetaOasis won the championship in Metaverse Alliance 2021 Global Metathon. Three months later, MetaOasis got the most votes and beat 112 competitors in the recent Avalanche Asia Hackathon. Therefore, MetaOasis will become the first project that wins the double in international hackathon competitions in the gamefi history. What worth mentioning is that Avalanche Asia Hackathon set up an algorithm mechanism which can prevent repeated voting. Thatโ€™s to say, all votes were from loyal supporters of the…

People want to be paid crypto to exercise in the Metaverse: Survey

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A new survey has found that over 80% of people would be motivated to take up more physical exercise if they were paid in cryptocurrency for their efforts.ย  The survey, which was conducted by fitness website FitRated, asked 1,001 Americans for their thoughts on blockchain-related fitness technology. The survey found that a staggering 40% of people would be willing to cancel their current physical gym membership for one in the Metaverse and that 81% of respondents would be more motivated to stay fit if they were incentivized by cryptocurrency payments.…

Terra wasnโ€™t a rug pull, it was a poorly designed โ€˜castle of cardsโ€™

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Tether and Bitfinex CTO Paolo Ardoino said that the Terra (LUNA) project was not intended to be a rug pull, but was simply โ€œpoorly designed.โ€ Speaking on the Terra ecosystemโ€™s market-shattering crash, Ardoino likened its algorithmic stablecoin TerraUSD (UST) to a โ€œcastle of cardsโ€ that was due to fall at any time. Many in the crypto community have highlighted a long list of dubious comments/actions from beleaguered Terraform Labs founder Do Kwon that raise questions about his actions. It has also been reported that Kwon also worked on a previously…

Mashinsky says โ€˜Sharks of Wall Streetโ€™ circling around Celsius and other projects

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The CEO of crypto lending and staking platform Celsius Alex Mashinsky believes โ€œthe Sharks of Wall Streetโ€ can smell blood in the water and are causing instability at several crypto projects. Mashinsky attributes recent Celsius (CEL) price falls, the brief Tether (USDT) depegging, and collapse of Terra (LUNA) โ€” at least in part โ€” to short sellers on Wall Street. CEL has fallen from its all-time high of $8.05 to $0.82, which is a 90% drop. In a Twitter Spaces event on Tuesday, some Celsius users claimed the platform liquidated…

BTC: HOLY SH*T! THIS IS HUGE FOR BITCOIN! (Analysis)

โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io ๐Ÿ’ Join Our Telegram โžก ๐Ÿš€Join The Trader Troops! โžก ๐Ÿ“ŠMy Charting Platform โžก ๐Ÿ“ทFollow me on insta โžก BTC: HOLY SH*T! THIS IS HUGE FOR BITCOIN! (Analysis) DISCLAIMER: Everything on this youtube channel, tradertoks, is not financial advice and is purely meant for entertainment purposes only. Nothing I say, do, or show, should be taken as any sort of investment advice for any asset class, I am not a licensed professional. All investments come with a large amount of risk that may…

Pakistan Can Generate $90 Million Annually if It Introduces a 15% Tax on Crypto Transactions โ€“ Emerging Markets Bitcoin News

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Pakistan can generate tax revenues of at least $90 million each year if authorities impose a 15% tax on cryptocurrency transactions, an executive with a cryptocurrency exchange has said. 15% Crypto Tax An executive with a Pakistani cryptocurrency exchange has said Islamabad can generate at least $90 million in tax revenues if authorities decide to levy a 15% tax on cryptocurrency transactions. The executive, Zeeshan Ahmed, the country general manager at Rain Financial Inc, claimed this would be possible if Pakistan adopts what one report calls โ€œhard and fast regulations.โ€…

Bitcoin Reclaims $30K, Why Bulls Face Uphill Task

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Bitcoin started a fresh increase from the $28,500 support zone against the US Dollar. BTC must clear $30,600 to move further into a positive zone. Bitcoin formed a base above $28,500 and started a fresh increase. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $30,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a clear move above $30,600.…