Turkey Prepares New Crypto Law to Align With International Standards

Turkey is preparing to present a new law to regulate crypto assets to Parliament. The legislation, aimed at aligning with international standards and reducing risks associated with crypto transactions, will enforce strict regulations on the licensing and operation of cryptocurrency trading platforms by the Capital Markets Board. It will also ensure the safe custody of […] Source CryptoX Portal

Bitcoin’s ‘Existential’ Challenge: Core Developer Warns of a New Era of Internal Struggles

Bitcoin faces a pivotal period that echoes the past block size wars, according to Bitcoin Core contributor Matt Corallo. In a recent blog post, Corallo examines the ongoing struggles within the Bitcoin community that could determine the future of the pioneering cryptocurrency. From Freedom to Fragmentation In his latest blog post, Matt Corallo outlines the […] Original

DOJ Appoints Consulting Firm for Three-Year Monitoring Role of Crypto Exchange Binance: Report

The U.S. Department of Justice (DOJ) has reportedly appointed a London-based consulting firm to serve as an outside monitor for Binance after the world’s largest crypto exchange pleaded guilty to violating US anti-money laundering (AML) regulations and sanctions laws. People familiar with the matter but wanted to remain anonymous say the DOJ has selected Forensic Risk Alliance (FRA) for the three-year monitorship of Binance over the previous frontrunner, New York-based law firm Sullivan & Cromwell, reports Bloomberg. One of the conditions of Binance’s plea deal in November is the appointment…

Kraken Challenges SEC Overreach in Recent Court Filing

In a recent motion to dismiss a case brought by the Securities and Exchange Commission (SEC), cryptocurrency exchange Kraken argued that the SEC’s legal theory misinterprets crucial aspects of the case. The court document, dated May 9, 2024, claims the SEC fails to identify legitimate investment contracts involved in the transactions on Kraken’s platform. Kraken […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin Magazine CEO Discloses Links With Trump Campaign: “It’s Time for Bitcoin to Elect the Next President”

David Bailey, CEO of Bitcoin Magazine, has disclosed his nexus with the campaign of former President Donald Trump. Bailey and his team have advised Trump to develop a Bitcoin and crypto-friendly agenda, including signing a crypto-focused executive order on day one. He declared that crypto enthusiasts will not vote for Trump but against Biden’s crypto […] Original

279 Crypto Accounts Forfeited to US Government in North Korean Laundering Crackdown

The U.S. District Court for the District of Columbia has ordered the forfeiture of 279 cryptocurrency accounts containing funds linked to alleged hacks of crypto exchanges by North Korean operatives. This measure is a component of a broader U.S. effort aimed at dismantling cyber operations that finance North Korea’s nuclear and missile initiatives. The decision […] Source BitcoincryptoexchangeExchanges CryptoX Portal

XRP Sinking? Why Altcoin’s Price Continues Downward Plunge

The once-booming cryptocurrency Ripple (XRP) finds itself in a precarious position. The past month has been marked by a significant drop in XRP’s value, leaving investors and analysts in a state of flux. While some fear a continued decline, others see potential for a comeback, with technical indicators hinting at a possible reversal of fortune. However, the road ahead for XRP remains shrouded in uncertainty, with the ongoing legal battle with the SEC and broader market sentiment playing a crucial role. Related Reading A Downturn And Dampened Enthusiasm The last…

Bitcoin on-chain activity declines, price movement sluggish

Activity on the Bitcoin (BTC) network is approaching historic lows, with traders significantly slowing down transactions in the two months since Bitcoin reached a new all-time high price. Insights from data analytics firm Santiment reveal a slowdown in on-chain activity on the Bitcoin network over the past few months, painting a nuanced picture of the cryptocurrency’s current state. In a May 11 update on X, Santiment highlighted that on-chain activity on the Bitcoin network is the lowest it has been since 2019. This observation stems from a visible downtrend in…

Ethereum Transaction Fees Slide Nearly 94% Over the Past 68 Days

Similar to Bitcoin’s onchain fees, the cost of transacting on the Ethereum network has recently seen a significant decline. Over the previous 68 days, since March 5, 2024, Ethereum’s network fees have fallen by 93.7%, from $30.33 per transfer to $1.91 per transaction. Declining Ethereum Fees: A 68-Day Overview Transacting on the Ethereum blockchain has […] Source CryptoX Portal