Month: August 2022

South Africa’s Monetary Authority Greenlights Banks to Serve Crypto Clients

The guidance was released after some local banks previously moved to shut down accounts tied to crypto exchanges, citing exposures to risk. In the published document, the SARB said it was aware that certain banks in the country have opted to block clients with links to crypto. It added that, although thorough risk assessment is necessary, the “wholesale termination of client relationships” poses a threat to financial integrity. Source

NFTs democratize music industry and redistribute song rights

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The music industry continues to find inventive ways to integrate decentralized technology into new releases to benefit both artists and their fans.  Electronic dance music (EDM) artist R3HAB and blockchain-based music community anotherblock released a single on Aug. 19 with the idea of “democratizing music rights.” The nonfungible token (NFT) included in the drop allows holders to earn royalties based on streaming popularity. The single, “Weekend on a Tuesday,” debuted bundled with an exclusive NFT. Each of the 250 NFTs available entitles the holder to a 0.02% share in the streaming…

Bitcoin Market Update Today | Bitcoin Price Prediction | Market Latest Update Bangla | Crypto Antor

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Nearly $55M worth of Bored Ape, CryptoPunks NFTs risk liquidation amid debt crisis

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Many owners of precious Bored Ape Yacht Club (BAYC) and CryptoPunks NFTs, who used them as collateral to take out loans in Ether (ETH), have failed to repay their debts. The situation could lead up to the NFT sector’s first massive liquidation event. gm. As a result of the floor dropping to 72, the first BAYC liquidation auction on BendDAO has begun Starting price of 68.4e… Any takers or is this going to be the first bad-debt domino that falls for the platform? pic.twitter.com/7qxsIi661e — Cirrus (@CirrusNFT) August 18, 2022…

The Philippines pushes back against foreign exchanges, continuing a protectionist streak

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The pressure on crypto is growing swiftly in the Philippines. After a recent series of controversial moves from the state regulators and local think tanks, the country’s central bank published a warning to the citizens, discouraging them from engaging in any operations with unregistered or foreign crypto exchanges. The announcement itself doesn’t sound menacing but taken in the context of accompanying developments, it makes a 112-million nation a restive region for crypto.  On Aug.17, The Bangko Sentral ng Pilipinas (BSP) published a warning note to the country’s citizens, “strongly urging”…

MTV introduces the ‘Best Metaverse Performance’ award category

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The 2022 MTV Video Music Awards (VMAs) added a new category to its list of competition categories. This year, artists are eligible to compete under the category of “Best Metaverse Performance” for a coveted award. Initially, the award show began in 1984 as an esteemed recognition for music video prowess. Major music artists, including Madonna, Nirvana and Kanye West, are among previous VMA recipients. Typical award categories include, “Video of the Year,” “Artist of the Year” and “Song of the Year,” though this year, there is a Web3 twist. The…

Qatari National Blockchain Blueprint Spotlights Benefits of the Technology to Country’s Economy – Emerging Markets Bitcoin News

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Qatar’s recently released “National Blockchain Blueprint” has suggested that the technology, combined with a “solid regulatory framework,” can help the country build an innovative information technology (IT) sector. However, for this to happen, Qatar must implement recommendations laid out in the blueprint. Qatar Said to Be Well Placed to Become Blockchain Hub A blueprint jointly drafted by Qatar’s Communications Regulatory Authority (CRA) and two learning institutions, Hamad Bin Khalifa University and Qatar University, seeks to spotlight how blockchain “can contribute to building an innovative and growing IT sector” in the…

Can exchanges create imaginary Bitcoin to dump price? Crypto platform exec answers

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One of the most substantial value propositions of Bitcoin (BTC) is that no one can create more of it apart from its fixed supply. However, an executive from a crypto exchange made a bold claim that some exchanges can create and sell BTC that’s only in their system, not on the blockchain, to manipulate the market.  In an interview with Cointelegraph, Serhii Zhdanov, the CEO of crypto exchange Exmo, shared his beliefs that market manipulation is still prevalent in the digital asset space and gave an example of how it…

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