Day: August 11, 2022

Billions erased from cryptocurrency market this week

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The always volatile cryptocurrency market took a dive after a major sell-off, and the crash in prices wiped out more than $300 billion this week. Crypto trader and investor Scott Melker, who hosts “The Wolf of All Streets” podcast, joined CBS News to discuss what’s next for the digital currencies. CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Network is…

Uzbekistan Moves to Block Foreign Cryptocurrency Exchanges – Regulation Bitcoin News

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Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. A presidential decree obliges citizens and local companies to only use digital asset exchanges licensed by the government of the Central Asian nation. Uzbekistan Takes Steps to Prevent Crypto Trading and Custody on Foreign Platforms Uzbekistan’s National Agency of Perspective Projects (NAPP) has registered a spike in activities of online platforms providing crypto-related services to Uzbekistanis without the necessary license. The regulatory body says these facilitate trading of cryptocurrencies…

Snapple Created a Bodega in the Metaverse

Promotions like Snapple’s have been mostly met with groans from the metaverse-native, but as the idea of Web3 treks forward into the mainstream it’s likely these installations will only become more common. Pepsi famously made all of Crypto Twitter cringe with its attempt at adopting crypto slang last December, but its ensuing NFT collection ultimately turned out to be a success, doing almost $6 million in sales volume. Source

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DeFi platform Oasis to block wallet addresses deemed at-risk

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According to a new community Discord post on Thursday, decentralized finance platform Oasis.app says that sanctioned addresses will no longer be able to access the application. As a result of the change to the terms of service, wallets flagged as high risk are prohibited from using Oasis.app to manage positions or withdraw funds. Instead, such category of users must interact directly with the relevant underlying protocol where funds are stored or find another service. In explaining the decision, Oasis.app team member Gabriel said: “We’ve recently needed to update the Terms…

UNCTAD takes aim at crypto in developing world in a series of critical policy briefs

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The United Nations Conference on Trade and Development (UNCTAD) released a policy brief Wednesday on cryptocurrency. It is the third brief in a row the agency has dedicated to crypto, and together they represent a detailed assessment of the risks crypto presents for developing economies and options for resolving those risks. UNCTAD Policy Brief No. 102, dated July but newly released, argues that although cryptocurrency can facilitate remittances and encourage financial inclusion, it can also undermine domestic resource mobilization in developing economies by enabling tax evasion by hiding the ownership…