Day: August 21, 2024

Hong Kong lawmaker calls for legal framework to regulate DAOs

A Hong Kong lawmaker calls for a legal framework to regulate DAOs following a court ruling on a decentralized organization. Hong Kong might begin developing a regulatory framework for decentralized autonomous organizations, as lawmaker Johnny Ng Kit-chong advocates for clearer rules to improve stability in the web3 sector. According to a report from the South China Morning Post, Ng, a member of the Legislative Council, believes that establishing a legal framework could benefit the region by attracting international talent and investment, reinforcing Hong Kong’s position in the rapidly evolving crypto…

7 Arrested in Illegal Bitcoin Mining Crackdown in Malaysia

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Seven individuals were arrested in Malaysia during a special operation targeting illegal bitcoin mining in Bandar Baru Salak Tinggi and Taman Putra Perdana. The operation, which involved coordinated efforts by law enforcement, focused on detecting and stopping bitcoin mining activities linked to electricity theft. The suspects, aged between 30 and 74, included three local men […] Original

Dogecoin Soars 6.5% After Elon Musk’s Post, Imminent Breakout?

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Dogecoin (DOGE), the largest memecoin by market capitalization, recently received acknowledgment from Tesla’s CEO on X. Elon Musk’s post sparked a frenzy among crypto investors and the DOGE community, reflecting on the token’s price. Following the recent surge, some analysts believe it’s only a matter of time before a major breakout. Related Reading Elon Musk Excites The Dogecoin Community In a recent X post, Elon Musk acknowledged the leading memecoin by market cap on his response to Donald Trump’s political proposition. The former US president revealed that he was open…

IOTA Completes Final Phase of European Blockchain PCP Initiative

Alvin Lang Aug 21, 2024 01:11 IOTA successfully concludes the European Blockchain PCP, developing scalable and sustainable blockchain solutions for Europe. The IOTA Foundation has successfully completed the final phase of the European Blockchain Pre-Commercial Procurement (PCP), according to IOTA Foundation Blog. This milestone marks a significant achievement in developing pre-commercial blockchain solutions for Intellectual Property Rights Management and Digital Product Passports. Background and Selection In 2021, IOTA was selected as one of seven projects from over 30 applications to participate in…

Donald Trump Considers Elon Musk for Cabinet Role

U.S. President and Republican presidential candidate Donald Trump stated on Monday that if elected, he would consider appointing Tesla CEO Elon Musk to a cabinet or advisory role. Trump praised Musk as a “brilliant” and “very smart guy,” expressing his openness to involving the Tesla boss in his administration if Musk were willing. Recently, Musk […] Source CryptoX Portal

Avalanche (AVAX) Consolidation Continues As Funding Rate Signals Possible Market Shift

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Avalanche (AVAX) has needed help recovering its losses in this volatile crypto market. Compared to other Layer-1 (L1) blockchains, AVAX consolidation could have been faster, raising concerns about its future performance. Related Reading Despite this uncertainty, recent price action shows AVAX consolidation above the $19.80 support, trading at $22.11 when writing and creating a positive sentiment among bulls. The Avalanche funding rate has turned positive for the first time since late July, and some analysts are even anticipating a potential reversal in Avalanche’s fortunes. AVAX Funding Rate Turns Positive According…

Peter Schiff Expects Gold Mining to Be Best-Performing Sector This Decade — Foresees ‘Major Bull Market’

Economist and gold advocate Peter Schiff predicts that “precious metals mining will be the best-performing sector” this decade. He highlighted that “gold mining stocks are a steal” and anticipates “a major bull market.” Additionally, Schiff cautioned that the Federal Reserve risks making a policy mistake by cutting interest rates too soon. ‘The Stage Is Set […] Source CryptoX Portal

Nigeria’s SEC Denies Issuing Provisional Crypto Licenses

Nigeria’s Securities and Exchange Commission (SEC) has announced that it has not yet issued any crypto licenses, contrary to some reports. The SEC plans to start issuing licenses for digital services and tokenized assets in August 2024. This move follows increased scrutiny of crypto exchanges and a push to regulate the industry, including a mandate […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Cardano Kicked Out Of Top 10 Crypto By Market Cap, What’s Going On?

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In an unexpected twist of events, Cardano (ADA) has officially been ousted from the top 10 cryptocurrencies by market capitalization. The popular altcoin has also been usurped by Tron (TRX), marking a significant shift in the crypto market.  Cardano’s Fall From Grace  According to reports from CoinMarketCap, Cardano has dropped out of the top 10 largest cryptocurrencies by market capitalization. The popular altcoin lost its long-standing position following significant price declines over the past week, which reduced its market capitalization to around $12.3 billion. Bill Morgan, a popular crypto enthusiast…