Day: March 21, 2023

Celsius lawyer and advisor fees on track to reach $144M, community responds

boss

Crypto lender Celsius Network’s lawyer and advisor fees amid its bankruptcy proceedings are projected to reach $144 million, triggering responses from members of the crypto community.  In a March 21 tweet, software developer Cam Crews shared a spreadsheet compiling the reported fees and projected fees that the bankrupt crypto lender needs to pay. According to the data, almost $102 million has been filed so far. The developer also pointed out that some months were missing and estimated that there are around $42 million in fees to be paid and filed…

Crypto Payment SpankPay Shut Down Citing Hostile Banking Environment

SpankChain is an Ethereum-based blockchain targeted at helping adult content creators remove third-party intermediaries like conventional banks, which have had a notorious history of conflict with the adult industry. Ethereum-based adult entertainment platform SpankChain is closing its crypto payment processor SpankPay, losing its payment service provider Wyre, in February while being unable to find a new provider. In February, SpankPay disclosed that its former provider had ended its agreement to offer crypto payment services to SpankPay, citing “violations of any third-party payment processor or network mandates”. SpankPay claimed that this…

Mastercard Partners Australian Fintech Stables to Enable Stablecoin Payment

The collaboration between both entities to enhance USDC payment might attract some forms of skepticism owing to the Fear, Uncertainty, and Doubt (FUD) surrounding Circle, USDC, and the exposure to the three US banks that collapsed in the past week. American multinational financial services firm Mastercard Inc (NYSE: MA) has entered into a strategic partnership with Stables, an Australian fintech startup to help advance stablecoin adoption in the APAC region. As reported by CoinTelegraph, the partnership will see users of the Stables platform make payments for goods and services using…

Taiwan’s Financial Supervisory Commission Set to Regulate Country’s Virtual Assets Industry – Regulation Bitcoin News

boss

Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur. Virtual Asset Industry’s Self-Regulation According to Taiwanese government officials, the country’s financial sector regulator — the Financial Supervisory Commission (FSC) — is set to become the body overseeing and regulating the country’s virtual currency industry. As per a CNA report, an announcement to…

US Supreme Court All Set to Hear First Crypto Case on Tuesday

In the appeal to Supreme Court, crypto exchange Coinbase is willing to send the two lawsuits – Bielski v. Coinbase and Suski v. Coinbase – into arbitration. On Tuesday, March 21, the US Supreme court is all set to hear its first-ever crypto case in history. Nine chief justices will hear the plea from lawyers representing crypto exchange Coinbase asking to pause a pair of class-action lawsuits against the crypto trading platform. However, this case is not quite on the technicalities or the legality of crypto matters. Instead, the case…

Governor Ron DeSantis Floats Bill to Ban Use of CBDCs in Florida

The United States has been working on its own CBDC after the Biden-led administration developed policy objectives in 2022. The governor of Florida, Ron DeSantis, is proposing a law that seeks to ban the use of central bank-issued digital currencies (CBDCs) in the state. According to a press release, the governor explained that the legislative proposal is being floated to protect residents and businesses within the state. DeSantis also suggests that the Biden administration is trying to exercise some form of surveillance and control with the CBDC technology. Part of…

The Next Generation of Verifiable Randomness – Sponsored Bitcoin News

boss

sponsored Main Takeaways Binance Oracle VRF is a Verifiable Random Function (VRF) solution that enables blockchain developers to generate random numbers. Binance Oracle VRF can be used for an extensive selection of use cases, including GameFi projects and other blockchain products built with smart contracts. Keep reading to learn more about how VRFs work, why blockchain applications need randomness, and how Binance Oracle VRF could benefit your project or business. Powered by Binance Cloud and based on the latest Verifiable Random Function (VRF) standard, here’s everything you need to know…

Australia reportedly asks banks to report on crypto

boss

Australia’s prudential regulator has reportedly asked local banks to report on cryptocurrency transactions amid the ongoing contagion of Silicon Valley Bank’s (SVB) collapse. The Australian Prudential Regulation Authority (APRA) has started requesting banks to declare their exposures to startups and crypto-related companies, the Australian Financial Review reported on March 21. The regulator has ordered banks to improve their reporting on crypto assets and provide daily updates to the APRA, the report notes, citing three people familiar with the matter. The agency is aiming to obtain more information and insight into…