The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service providers (VASPs) will be required to register and meet strict standards, while commercial banks are prohibited from dealing directly with virtual […] Source CryptoX Portal
The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS is seeking support from the Nigerian National Assembly to implement […] Source CryptoX Portal
Drift, an on-chain trading protocol, has introduced prediction markets as part of its expanding suite of products. The Solana (SOL)-based platform revealed its new predictions market feature in an announcement on Aug. 19. Drift’s prediction market product will function similarly to Polymarket, offering users the chance to bet on the outcome of events such as the U.S. election. However, Drift’s B.E.T goes a step further by integrating decentralized finance. With Drift’s B.E.T, users can earn yield on their bet trades as the event unfolds and reaches its resolution. Additionally, users…
While the Republican platform addresses the issue of cryptocurrency and bitcoin, the Democratic Party’s latest platform remained silent on the matter. Adding to the buzz, there are whispers that Kamala Harris’s campaign might be eyeing Gary Gensler, the current head of the U.S. Securities and Exchange Commission, for the role of Treasury Secretary. Democrats’ Latest […] Source CryptoX Portal
The crypto market has been challenging, and Ethereum (ETH), the second-largest cryptocurrency, is no exception. Despite its dominant position, the token has faced significant headwinds in recent weeks, with its price showing no signs of a sustained recovery. Key Metrics Point To Continued Bearishness According to crypto analyst Ali Martinez, some of the largest Ethereum whales, holding over 10,000 ETH, have been steadily selling their tokens over the past month, with no indication of slowing down. This mass exodus of large investors has contributed to ETH’s 26% price drop over…
Rumors are circulating that Securities and Exchange Commission Chairman Gary Gensler may be nominated as Treasury Secretary if Vice President Kamala Harris wins the presidential election in November. According to the Washington Reporter, speculation is mounting that Gensler could be nominated for the Treasury Secretary role if Harris wins the November election. This has significant implications for the crypto community, as Gensler has previously dragged his feet on crypto innovation. Although Gensler has not indicated any plans to leave his current role, senior Senate staffers and top Republicans suggest that Harris…
According to the latest data collected on Aug. 16, 2024, the 12 spot bitcoin exchange-traded funds (ETFs) collectively hold around 910,153.83 BTC, which translates to over $53 billion at the current exchange rates. Leading the pack is Blackrock’s IBIT, holding the largest portion with 38.34% of the total BTC. 12 Spot Bitcoin ETFs Close in […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Over the past few months, both Bitcoin and Ethereum users have noticed a noticeable drop in transaction fees. Ethereum’s network transfer fees, in particular, have fallen to such low levels that Etherscan, a leading Ethereum block explorer, has recently added decimal points to its gas tracker after fees dipped below 1 qwei. Etherscan’s New Decimal […] Source CryptoX Portal
On Monday, the crypto economy held steady at $2.06 trillion, though it dipped by 2.26% in value over the last 24 hours. Bitcoin experienced a 2.5% drop this past week, while ETH saw a decline of more than 4% during the same period. Despite the downturn, some digital currencies managed to stand out, with superrare […] Source CryptoX Portal
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