Month: April 2024

UK to implement new crypto, stablecoin legislation by Q3

The British government plans to introduce new regulations for stablecoins and other crypto services, such as staking, exchange, and custody, by mid-year. Economic Secretary Bim Afolami announced this at the Innovate Finance Global Summit this week. He emphasized the rapid progress being made to establish a comprehensive regulatory framework and said the government is quickly advancing the legislation that will finalize the new regulatory proposals.  Once implemented, this legislation will bring various cryptocurrency operations, including exchanges and custodial services, under regulatory oversight for the first time. 🇬🇧🚨🇬🇧🚨🇬🇧 𝗟𝗢𝗡𝗗𝗢𝗡 𝗜𝗦 𝗥𝗘𝗔𝗗𝗬…

Bank of Russia Supports Cryptocurrency Usage for International Settlements

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The Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched in a sandbox-style experimental regime. In contrast, payments with national digital assets will be launched without similar precautions. Bank of […] Source

DOGE Price Prediction – Dogecoin Could Restart Drop To $0.12

Dogecoin is struggling below the $0.180 resistance zone against the US Dollar. DOGE must stay above the $0.1450 support zone to start a fresh increase. DOGE started a fresh decline below the $0.1750 zone against the US dollar. The price is trading above the $0.1700 level and the 100 simple moving average (4 hours). There is a key contracting forming with support at $0.1540 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price could restart its increase unless there is a close below the $0.1450…

Nebraska Man Faces 50 Years for Multi-Million Dollar Cryptojacking Scheme

United States prosecutors have charged Charles O. Parks III with wire fraud and money laundering after he allegedly ran a “large-scale illegal ‘cryptojacking’ operation,” defrauding two cloud computing providers out of $3.5 million to mine $970,000 in cryptocurrencies such as ether, litecoin, and monero without authorization. Parks, who was arrested in Nebraska and faces up […] Source CryptoX Portal

$3 Billion Short Liquidation Looms At This Price Mark, Warns Analyst

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The Bitcoin market is currently on edge as prominent analyst Crypto Rover warns of a potential liquidation event that could negatively affect the short holders. With Bitcoin trading within a significant consolidation phase, as revealed by Rover, analysis suggests that over $3 billion in short positions could face liquidation should Bitcoin climb back to a specific price mark. Bitcoin Bears Beware Of This Price Range According to Rover, the crucial price mark, which is the $71,600 region, is where the $3 billion short liquidation would occur if Bitcoin reclaims it.…

Liquid Staking Derivatives Lose Ground With Over 380,000 ETH Withdrawn in April

Following a significant downturn in March, liquid staking derivatives (LSD) protocols experienced another withdrawal of 380,000 ether, valued at roughly $1.17 billion, from leading LSD platforms since April 1, 2024. Ethereum Exodus: $1.17 Billion Pulled From LSD Platforms In the initial two weeks of April, a notable reduction of 380,000 ether was observed in the […] Source CryptoX Portal

Bitcoin Price Restarts Decline, Can BTC Bulls Protect $60K?

Bitcoin price started another decline from the $67,000 zone. BTC is showing bearish signs and might soon revisit the $61,000 support zone. Bitcoin failed to clear the $67,000 resistance zone. The price is trading below $65,000 and the 100 hourly Simple moving average. There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its decline unless it clears the $65,000 resistance zone. Bitcoin Price Recovery Stalls Bitcoin price attempted a recovery wave…

Bitcoin Readying For A 12-Year Bull Run To $650,000 If Bulls Take Charge: Analyst

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Even with Bitcoin prices facing pressure from sellers, Willy Woo, an on-chain analyst, thinks the coin will reach new highs thanks to the launch of new Bitcoin exchange-traded funds (ETFs). In a post on X, Woo said the coin could soar to as high as $91,000 in a bear bottom but soar to as high as $650,000 in a bull market top. However, Bitcoin will only soar to these mega valuations, assuming that leading asset managers will fully deploy their recommended allocations to the world’s most valuable crypto asset. Bitcoin In…