Day: October 16, 2023

Crypto payment option for Honda cars only works via third-party platform

boss

Major automobile manufacturer Honda does not accept cryptocurrency payments directly but one can use cryptocurrencies like Bitcoin (BTC) to buy a Honda car through a third party. In early October, several publications mistakenly reported that Honda started accepting cryptocurrency as payment. But Honda doesn’t allow one to purchase its cars in exchange for crypto, a spokesperson for the firm told Cointelegraph, stating: “American Honda does not accept cryptocurrency as payment. The recent reports regarding a change to this policy are incorrect.” Honda didn’t respond to additional questions on its stance…

Approximately 90% Expected To Suffer Losses

boss

Shiba Inu (SHIB) holders are not exempt from the turbulence of the market in recent weeks. Analyzing the current state of affairs for holders of the meme coin, it becomes apparent that the profitability of investing in this particular asset type has been a rollercoaster journey.  Data derived from IntoTheBlock, an analytics firm, reveals a striking fact: a mere 9% of the current SHIB holders find themselves in a profitable position at the current value of roughly $0.0000069 per coin. This figure is indicative of the challenges that many SHIB…

Australian Treasury Proposes Regulation of Crypto Exchanges, Not Tokens

Kraken Australia’s Director Jonathon Miller does not support the proposed rules, stating that the paper was trying to fit crypto into existing financial services regulations.  The Australian Treasury has unveiled a consultation paper that details plans to regulate crypto exchanges in the country. The new regulatory framework – released on October 16 and titled “Regulating Digital Asset Platforms” – would require cryptocurrency exchanges to apply for financial services licenses from the local regulator. The Treasury asserts that the framework aims to foster innovation in the digital asset sector while ensuring that…

Mining BTC is harder than ever — 5 things to know in Bitcoin this week

boss

Bitcoin (BTC) starts a new week firmly back in the “Uptober” spirit as the weekly close gives way to a classic short squeeze. In a return to classic BTC price volatility of the kind seen earlier in the month, the largest cryptocurrency is tackling $28,000 ahead of the first Wall Street open. While still in an established trading range, Bitcoin is keeping traders on their toes, with both longs and shorts getting caught out by short-term spot price moves, and liquidations are mounting. Sentiment is fluctuating in step with these…

California Governor Approves Stricter Crypto Regulation Bill for 2025 Implementation

Governor Newsom’s endorsement of the crypto regulation bill represents a significant departure from his previous stance. California’s crypto industry is bracing for significant changes as Governor Gavin Newsom signs off on a groundbreaking regulatory bill expected to revamp the state’s digital asset landscape. The newly approved bill, the Digital Financial Assets Law, is slated to come into force in July 2025, bringing forth a series of stringent regulations for individuals and businesses engaged in crypto-related activities within the state. Under the provisions of the bill, all crypto entities will be…

Solana becomes ecosystem partner of Dubai free zone

The Solana Foundation has become an ecosystem partner for the Dubai Multi Commodities Centre (DMCC), one of the free economic zones in the United Arab Emirates. According to the announcement from Oct. 15, with its blockchain platform, Solana will provide technical and business development support to any DMCC Crypto Centre member. The company will also deliver webinars and educational courses on various Web3 topics and extend its already-operating grant program at DMCC. Solana’s existing partners will, in turn, get privileged treatment in the DMCC, according to the centre’s CEO, Ahmed…

Asia on Way to Becoming Next Crypto Hub

Asia is getting filled with a growing number of blockchain enthusiasts, while the rest of the world is waiting for crypto winter to start.  It seems that Asia might become the next crypto hub, with the adoption of digital assets gaining momentum. Central and southern Asia are the leading regions establishing themselves as key players in the decentralized finance (DeFi) industry. According to the ChainAnalysis 2023 crypto adaptation index, six of the top ten countries in crypto adoption are located in the region. In September, there have been a number of…