Category: Exchanges

Moldova Bans Cryptocurrency Mining Amid Energy Crisis Caused by War in Ukraine – Mining Bitcoin News

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The government of Moldova has decided to suspend crypto mining activities in the country as it’s facing a major energy crisis. The move is part of emergency measures to reduce power consumption with energy supplies dwindling due to the escalating conflict in neighboring Ukraine. Authorities in Moldova Prohibit Bitcoin Minting and Mining Hardware Imports to Save Power Cryptocurrency mining in Moldova has been targeted amid a deepening energy crisis as the winter approaches. The country’s government took steps this week to limit electricity consumption, including imposing a complete ban on…

Singapore’s Regulator Proposes Fresh Cryptocurrency Rules to Protect Consumers 

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On Wednesday, the Monetary Authority of Singapore (MAS) proposed restricting retail investors from borrowing money or using credit cards to buy cryptocurrencies and from lending out their digital tokens in search of yield. To be fair, many of the entities which imploded in recent times had only a tenuous connection with Singapore. After a series of high-profile crypto implosions linked to the city-state, including the collapses of stablecoin terraUSD in May and the once iconic hedge fund Three Arrows Capital, Singapore’s regulators have ramped up warnings to retail investors and proposed a…

Crypto Exchange Binance To Launch New Oracle Service on BNB Chain, Citing Huge Opportunity

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Binance, the world’s largest crypto exchange platform by volume, is launching a new oracle service on its BNB blockchain. In a new company blog post, Binance says that it will be launching oracle services in a push to boost the BNB Chain ecosystem and the broader digital asset space. Oracles provide smart contracts with a channel to receive real-time data such as price updates from external sources so they are able to properly execute their function. “An oracle is a bridge between the blockchain and the real world. These services…

Best Crypto Memes That Have Defined Cryptocurrency Trading

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An anonymous Twitter account called Inversebrah, which has amassed over 205,000 followers, has become the predominant role-playing Wassie. Every day, people tag him in posts about important events and cultural phenomena in crypto. “Smolting” (short for “small thing”), as he’s often called, will take a screenshot and retweet the particularly notable posts. Source

Singapore MAS proposes to ban cryptocurrency credits

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The Monetary Authority of Singapore (MAS) is introducing proposals to better regulate the cryptocurrency industry in the aftermath of the bankruptcy of the Singaporean crypto hedge fund Three Arrows Capital (3AC). The central bank of Singapore has issued two consultation papers on proposals for regulating the operations of digital payment token service providers (DPTSP)​​ and stablecoin issuers under the Payment Services Act. Published on Oct. 26, both consultation papers aim to reduce risks to consumers from crypto trading and improve standards of stablecoin-related transactions. The first document includes proposals for…

Is MATIC price about to double? Polygon’s Reddit hype pushes exchange balance to 9-month lows

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A sharp rebound in the Polygon (MATIC) market in the last four months has increased its price by 200% when measured from its June 2022 bottom of $0.31. And now, the token is showing signs of undergoing another major market rally. MATIC exchange balance hits nine-month low Notably, the MATIC supply held by all crypto exchanges fell to 802.15 million on Oct. 26, its lowest level since January 2022. The plunge came as a part of a broader downtrend that has witnessed over 600 million MATIC leaving exchanges in the…

Foreign Exchange Transactions Take Center Stage in New BIS CBDC Report

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Central banks – based in Hong Kong, China, the United Arab Emirates and Thailand – issued over $12 million on the platform, allowing the commercial banks to conduct payment and foreign exchange payment versus payment transactions (PvP), the report said. The pilot was part of BIS’s ongoing Project mBridge, a collaboration between the international financial institution and the central banks of those four nations that is studying CBDCs and their possible role in cross-border payments and multi-CBDC transactions. Source

Former Head of Crypto Exchange Bithumb Charged With Eight Years in Prison for Alleged $70,000,000 Fraud: Report

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South Korean prosecutors are charging the former head of a major crypto exchange with fraud worth nearly $70 million. According to a report from the South Korean news outlet Yonhap News Agency, state prosecutors have asked for eight years in prison for Lee Jung-hoon, the former head of Bithumb. Says the South Korean prosecutors, “The amount of damage is very large, and the damage is especially great for ordinary coin investors.” Lee is being charged with stealing $70 million from BK Group chairman Kim Byung Gun during negotiations over a deal…

Sam Bankman-Fried Says Crypto Exchange FTX Will Dole Out One-Time $6,000,000 Reimbursement to Phishing Victims

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Billionaire Sam Bankman-Fried says crypto derivatives exchange FTX will dole out $6 million to reimburse users who were impacted by a phishing scam involving a separate company. Users of 3Commas, a crypto trading platform that offers trading bots and interfaces with major exchanges, were targeted by a phishing attack last week. According to a blog post by 3Commas, the bad actors used fake websites designed to resemble the firm’s authentic platform in an effort to steal the application programming interface (API) keys of a partner exchange. With access to API…