Day: August 13, 2023

SEC to appeal Ripple’s victory, Binance aims for growth, PayPal launches stablecoin

Amid ongoing regulatory efforts, the U.S. Securities and Exchange Commission (SEC) is poised to contest Ripple’s recent victory. Binance captures attention with ambitious growth moves, while PayPal introduces its very own stablecoin.  Greater scrutiny in the U.S. This week, government agencies sought to establish clarity. The Federal Reserve introduced an innovative endeavor aimed at overseeing cryptocurrency operations within banking institutions. The Novel Activities Supervision program will diligently track activities pertaining to cryptocurrencies, encompassing trading and lending, with a particular emphasis on enhancing the security of stablecoins. The SEC deferred its…

Toncoin Throws Weight To Lead Weekend Top 20 With 15% Rally

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The dynamic and ever-evolving blockchain community has shown a great deal of interest in and enthusiasm for Toncoin (TON). Due to its technological underpinnings and innovative answers to the long-standing problems that have plagued the field of decentralized finance, this digital money has risen to popularity very quickly. At the time of writing, TON was trading at $1.46, registering an impressive 10.4% increase in the last 24 hours. Equally impressive is the crypto’s price rally in the last week, when it registered a 22% climb, data from crypto market tracker…

Brazil to tax crypto held abroad by citizens

The Brazilian Congress is pushing forward legislation allowing for the taxation of crypto assets held abroad by citizens of the South American country. According to the local press, Brazilian lawmakers on Aug. 11 approved amendments to a bill that defines cryptocurrencies as financial assets for the purpose of taxing foreign investments.  Brazil’s Congress moves to levy higher taxes on cryptocurrencies If approved, the legislation would place crypto assets held by Brazilians overseas subject to the same tax rules governing traditional assets. pic.twitter.com/yt0ik5j68o — Trading Haber 🇹🇷 (@TradingHaber) August 12, 2023…

Shiba Inu Leaves Bitcoin Behind In A Week Of Price Surges

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The Shiba Inu (SHIB) coin has exceeded even the top 10 established cryptocurrencies this week, posting a solid 15% increase that has captivated the attention of the cryptocurrency community. The notable ascent in SHIB’s price is closely associated with its current rate of burning, which has witnessed a significant upturn in the last 24 hours. Based on the Shibburn data, a total of 111,799,146 SHIB tokens have undergone incineration, leading to a substantial 57% surge as per the most recent update. Shiba Inu Gets Price Boost From Burn Rate Throughout…

Litecoin and Monero stumble, DigiToads retains bullish momentum

The crypto landscape is a dynamic interplay of volatility, where even established giants encounter hurdles while new entrants rise to prominence. Currently, Litecoin (LTC) and Monero (XMR) are grappling with downturns, while an emerging project, DigiToads (TOADS), is carving market share. Amid a broader market decline in July 2023, Litecoin and Monero suffered setbacks, falling by 40% and 30%, respectively. Their collapse reflects highlights the challenging crypto market conditions. Amidst increasing market interest, DigiToads is gaining popularity with its play-to-earn (P2E) gaming ecosystem.  The ongoing presale has already raised over…

Voyager’s token transfer to Coinbase grows selloff suspicions

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Bankrupt cryptocurrency lender Voyager Digital transferred 1,500 Ethereum (ETH) valued at around $2.77 million and an additional 250 billion Shiba Inu (SHIB) equivalent to $2.7 million to the Coinbase Exchange. Based on blockchain data, Voyager initiated the transfer of SHIB and ETH tokens to Coinbase’s ledger on August 11. The motive behind these transactions has triggered more speculation within the larger crypto community. One theory suggests a probable sell-off, given that these recent transfers have diminished the distressed crypto lender’s wallet holdings to a mere $81.63 million worth of digital…

2050: CBDCs, AI, and the uncharted path ahead

As we stand on the threshold of an epochal shift in finance and technology, the emergence of central bank digital currencies (CBDCs) and the rise of artificial intelligence (AI) stand as the two most defining factors. Yet, it’s when these forces intertwine that the real intrigue begins. We’re at a turning point, and the road we’re traveling is one of no return. Money, as we knew it, is vanishing. In Sweden, a mere 9% of transactions in 2020 involved physical cash. Finland is on a fast track towards a cashless future,…

Legal scholars file amicus brief in support of Coinbase

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A group of six legal scholars specializing in securities law and related fields submitted an amicus brief in favor of crypto exchange Coinbase in its ongoing legal battle against the United States Securities and Exchange Commission (SEC). An amicus brief is a document filed in court by a party not directly involved with the related case. It is generally used to add supporting arguments to one side of the lawsuit and emphasizes how the case will have a broader impact beyond the involved parties. The group of legal scholars filed the amicus brief…

Coinbase gains legal support as scholars file amicus brief

A group of six legal scholars specializing in securities law and related domains have submitted an amicus brief in favor of crypto exchange Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC). An amicus brief is a legal instrument submitted to the court which originates from a party not directly engaged in the pertinent case. Its typical purpose is to provide supplementary arguments in favor of one side of the lawsuit while underscoring the wider implications that the case may carry beyond the immediate litigants. The…

Bitcoin centralized by corporate giants should not be feared – Michael Saylor

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During a recent podcast interview, MicroStrategy’s Michael Saylor expressed the opinion that large corporations purchasing and then proceeding to centralize Bitcoin (BTC) should not be a cause for concern. While speaking to Natalie Brunell on the Coin Stories podcast, released on Aug. 7, Saylor emphasized the inevitability of third-party and corporate participation growing in the Bitcoin space.  However, he suggested that while Bitcoin enthusiasts may desire total self-control over their Bitcoin – aka self-sovereignty – it might not be the only answer, as people will be using Bitcoin for diverse…