Day: March 29, 2023

EU lawmakers push for stricter rules on anonymous crypto transfers

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European Union lawmakers have adopted new draft legislation imposing a 1,000 euro ($1,083) cap on anonymous crypto transfers to combat money laundering and terrorist financing. According to a European Parliament statement published on March 28, the limit would apply to a crypto asset transfer when a customer can’t be identified. Cash transactions will also be capped at 7,000 euros ($7,585).  The Anti-Money Laundering and Countering the Financing of Terrorism package is set to be confirmed in a plenary session in April. After that, negotiations on the final shape of the…

UAE Central Bank Implements Digital Currency Strategy – Emerging Markets Bitcoin News

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The central bank in the United Arab Emirates said it has started implementing its digital currency strategy with partners G42 Cloud and R3. According to the central bank, the digital currency initiative is expected to “further position and solidify the UAE as a leading global financial hub.” CBDC Strategy to Focus on Three Pillars The United Arab Emirates (UAE) central bank recently said it would start implementing its digital currency strategy with its two partners G42 Cloud and R3. According to a report, the UAE’s apex bank’s two partners are…

Apple Introduces Pay Later Service to US Customers

Upon approval, the Pay Later option will appear when they select Apple Pay to checkout online or in apps on their iPhones or iPads. Tech giant Apple (NASDAQ: AAPL) has announced its Pay Later service, enabling users to split their purchases into four payments. The company introduced the service in the US with no additional interest or fees. Users of the Apple Pay Later service will be able to spread their payments into four over a period of six weeks. After the technology company announced the new service on March 28, financial…

Bitcoin price jumps above $28K after 1.5K BTC shorts ‘blown out’

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Bitcoin (BTC) headed back to $28,000 on March 29 as a classic short squeeze took the market to five-day highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC liquidations mount as Bitcoin reverses Binance dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $28,159 on Bitstamp. The abrupt uptick came courtesy of exchanges , where a band of shorts were “blown out” to remove resistance and allow higher levels to return. As noted by analyst Skew, these shorts were left over from Bitcoin’s prior moves, and were worth…

Russia delays digital ruble launch testing due to lawmaking process

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The rollout of The Bank of Russia’s central bank digital currency (CBDC) pilot is being delayed indefinitely. However, participating banks have stated their readiness to begin the testing.  As reported by the state-owned TASS on March 28, the CBDC pilot won’t start on April 1, as previously announced, because specific legislation has only passed through the first reading in the State Duma — the Federal Assembly’s lower house. According to TASS, the legislation may be enacted by early May. The number of private banks participating in the pilot has also changed…

Jake Paul-endorsed SafeMoon gets hacked after introducing a bug in upgrade

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SafeMoon, a project previously endorsed by A-list celebrities and social influencers such as Jake Paul and Soulja Boy, announced its liquidity pool (LP) was compromised. Without revealing further details about the attack, SafeMoon confirmed undertaking steps “to resolve the issue as soon as possible.” Just like many other crypto projects in 2021, SafeMoon was backed by numerous celebrities. However, a lawsuit from Feb. 2022 alleged that musicians such as Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips mimicked real-life Ponzi schemes by misleading investors to…

Lucid Plans to Reduce Headcounts as Part of Restructuring Plan

The Lucid CEO said the company remains committed to expanding globally despite cutting headcounts. American EV maker Lucid Group Inc (NASDAQ: LCID) has revealed plans to reduce headcounts, dismissing about 18% of its workforce. The company announced the job cut in an SEC filing on the 27th of March. According to the document, Lucid is reducing workers as part of a larger restructuring plan to reduce expenses. Employees’ dismissal is no longer news in the markets. Over the past years, many companies across different sectors have had to fire some…