Month: September 2023

Pepe Coin Fall From Grace: What’s Turning The Whales Away?

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Popular meme coin PEPE has recently come under the spotlight due to significant whale activity that has left many investors concerned about its future. Large holders of PEPE tokens have been selling their holdings at a loss, leading to increased market uncertainty.  A recent report notes the meme coin’s price movements are strongly influenced by its presence in the social sector. However, over the last week, social activity surrounding PEPE has taken a notable downturn, with social engagements falling by 28% and social mentions decreasing by 18%. Whale Exodus: Massive…

Nigeria central bank missed opportunity for blockchain regulation in 2021 — Convexity CEO

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A group of Nigerian professionals in digital assets took to the stage at the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, to discuss the future of digital assets in Nigeria in regards to regulation.  In the panel titled “The Future of Digital Assets: Regulatory Uncertainty and the Way Forward,” the group discussed why the implementation of digital assets regulation and blockchain policy has been slow in Nigeria. The developmental regulation created by NITDA is a big step towards understanding…

US Treasury, IRS propose cryptocurrency regulations for brokers

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Two federal agencies of the United States — the Department of the Treasury and the Internal Revenue Service (IRS) — have released a set of cryptocurrency regulations proposal detailing brokers’ reporting requirement. The Office of Advocacy of the U.S. Small Business Administration revealed that the proposal around crypto regulations for brokers was released on Aug. 29, as it explained: “The proposed rules would require digital asset brokers, including trading platforms, payment processors, and certain hosted wallet providers, to report gross proceeds for all sales or exchanges of digital assets starting…

IMF, FSB Publish Crypto Policy Roadmap, Warn Against Blanket Bans

The policy paper, commissioned by the intergovernmental forum G20 under India’s leadership, combines norms set by the Financial Stability Board (FSB), the International Monetary Fund (IMF) and other international standard-setters for the crypto sector in one report, which found “comprehensive regulatory and supervisory oversight of crypto-assets should be a baseline to address macroeconomic and financial stability risks.” Source

Is Bitcoin A Buy Or Sell? Ark Invest Shares Market Analysis

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In its new monthly report titled “The Bitcoin Monthly: Bitcoin Battles Resistance Around Its On-Chain Mean”, Ark Invest has provided an exhaustive analysis of the current market landscape. The report categorizes its findings into bullish, neutral, and bearish perspectives, providing a holistic view of Bitcoin’s current and potential future stance. Bullish Arguments For Bitcoin Grayscale Spot ETF and GBTC’s Discount To NAV: On August 29, a pivotal decision was made by a US Federal Appeals Court. They ruled that the U.S. Securities and Exchange Commission (SEC) must revisit and reconsider…

Google makes update to crypto policy regarding NFTs

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Google says that since Sept. 15, advertisers promoting gambling-related content will not be allowed to advertise these products or services. As part of the change log, Google shares that in September 2023, it will update the cryptocurrencies and related products policy. In particular, it will clarify the scope and requirements for advertising blockchain-based games that involve NFTs. Google clarifies that promoting blockchain games involving NFTs is still allowed, citing examples of games where players can purchase in-game…

Nigeria’s Web3 education efforts seek to tackle language challenges

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While Nigeria appears to have a high level of blockchain and crypto awareness, the country is still facing issues related to public education in the field. A group of local blockchain experts discussed blockchain education’s challenges in Nigeria at the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital. In the panel titled “Web3 Education: Capacity Building,” the group discussed the current level of blockchain and Web3 awareness in the country and the challenges that have surfaced in the journey so far.…

New York Court Orders Asset Freeze for Former Celsius CEO Alex Mashinsky Due to Ongoing Criminal Case Proceedings

Mashinsky had already put his Austin, Texas property that was acquired in 2021 with Celsius proceeds, on sale for about $2.49 million. The former Celsius Chief Executive Officer (CEO) Alex Mashinsky faces more financial hurdles after United States Judge Jed S. Rakoff ordered his assets to be frozen as the criminal case with the Department of Justice (DOJ) continues. According to court filings, Mashinsky and any of his representatives have been ordered not to sell, transfer, or pledge any of his assets. Notably, Mashinsky’s funds in Goldman Sachs Group Inc…

Tornado Cash Co-founder Pleads Not Guilty to US Treasury Charges

The co-founder pleaded not guilty to all charges involving the alleged misuse of Tornado Cash for illicit activities. Tornado Cash co-founder Roman Storm has pleaded not guilty to all money laundering and violations charges. Storm, who was arrested in August, was charged with fellow co-founder and developer Roman Semenov. An Inner City Press thread on X (formerly Twitter) live-reported the proceedings where Storm pleaded not guilty. The co-founder appeared in the US District Court for the Southern District of New York. On August 23, the US Department of Treasury sanctioned the Tornado Cash execs,…