Day: August 1, 2022

How much enforcement is too much? – Cointelegraph Magazine

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Many blockchain companies now believe that regulation is inevitable, but there’s a growing debate over where to draw the line between protecting users and strangling the lifeblood out of the industry — or forcing it outside the United States.  “Whether we like it or not, regulation is coming,” Sheila Warren of the Crypto Council for Innovation tells me during an interview in the lead up to the recent Collision conference in Toronto, Canada. The CEO of the industry lobby group for blockchain technology explains that rather than trying to stop…

Upcoming Muse NFT album becomes first new format added to charts in years

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The upcoming Muse NFT album will be the latest chart-eligible album format since 2015. Prior to this album concept, the last format to be accepted by international charts was album streams. Nonfungible token (NFT) albums are now eligible for both United Kingdom and Australian charts.  Will of the People is the British rock band’s ninth studio album and will be released on Aug. 26t. It will be the flagship “Digital Pressing” album from the Web3 marketplace Serenade. Serenade created digital pressings as a “brand new, limited edition and collectible” music…

Coin Of The Week – Optimism (OP)

Optimism has been one of the best-performing altcoins, over the past weeks. Optimism Rollup network is one of the many blockchain solutions trying to solve Ethereum scalability solutions. Related Reading: How High Can Ethereum Go Before The Merge OP has shown a powerful bullish trend and continues to show why this is a crypto coin to accumulate for the bull run. Daily Chart Analysis Of Optimism (OP) Optimism (OP) started its bullish trend from the low of $0.45; after breaking out from the ranging channel with a resistance of $0.58,…

Central Bank of Honduras Warns About the Dangers of Using Cryptocurrency – Regulation Bitcoin News

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The Central Bank of Honduras has published a release that seeks to clarify the stance the institution takes about the use of cryptocurrencies in the country. The organization states that even with the popularity such instruments have attained in other countries, cryptocurrencies have no backing of any sort, and are also affected by high levels of volatility. “Any transaction carried out with them will be under the responsibility and risk of the person who performs it.” Central Bank of Honduras Clarifies Stance On Cryptocurrency While some countries have…

FCA cracks down on the ads of high-risk assets, but not crypto

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The British Financial Conduct Authority (FCA) demands clearer and more prominent risk warnings from the companies marketing high-risk investments. Certain investment incentives, such as refer a friend bonus, will be banned altogether.  In a note published on Aug. 1, the FCA has finalized stronger rules to “help tackle misleading adverts that encourage investing in high-risk products.” The regulator’s attempt to reduce the number of people investing in high-risk products follows a concern that “a significant number of people” don’t understand the risks engraved into some kind of investment. Cryptoasset promotions, however,…

The rise of fake cryptocurrency apps and how to avoid them

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Scammers have been taking advantage of blockchain’s decentralized and immutable nature to swindle crypto investors since the advent of the technology. And, according to the latest FBI fraud report, fraudsters are using fake crypto apps to steal money from unsuspecting crypto investors. It highlights that American investors have lost approximately $42.7 million to swindlers through fake apps. The schemes reportedly take advantage of heightened interest in cryptocurrencies, especially during bull market runs, to beguile crypto users. How fake crypto app scammers lure users Fake crypto app scammers use myriad techniques…

Which companies got approvals recently?

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Dubai has positioned itself as one of the most crypto-friendly cities, having established a new regulator to cement the United Arab Emirates’ position in the crypto space. Following the move, crypto exchanges began to flock to the region, securing the newly formed regulator’s approval to operate within the region.  In March, Dubai’s authorities announced a new law on crypto assets and established a new regulating body called the Dubai Virtual Asset Regulatory Authority (VARA). The regulator is tasked with organizing the issuance and trading of virtual assets and virtual tokens,…

Despite Polygon’s Bullish Run, Buyers Struggle Near Resistance Of $1.0

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The Polygon (MATIC) has had an impressive bull run seen in the last couple of days. The coin is treading above the EMA red lines as seen on the daily price chart. On the other hand, MATIC’s trading volume has plunged by as much as 42% or $1.1 billion overnight.   MATIC price went for a bull run right after it breached the symmetrical triangle pattern spotted on the upside. As it turns out, $1.0 had been a critical level to break for a long time which was a tough challenge…

How To Invest In Cryptocurrency For Beginners In 2022 | THE TOP COINS TO BUY

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First Binance soulbound token BAB targets KYC user credentials

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Binance cryptocurrency exchange is moving towards decentralized identity tools by launching its first-ever token designed to certify verified user status on the platform. Binance on Monday announced the launch of the Binance Account Bound (BAB) token, aiming to address identity issues in the decentralized society (DeSoc). In contrast to traditional crypto assets like Bitcoin (BTC), the BAB token is exclusively for online identification purposes and belongs to a type of Soulbound Tokens (SBT). Proposed by Ethereum creator Vitalik Buterin, SBTs are non-transferable, non-financialized tokens designed for DeSoc. According to the…