Tag: News

Kazakhstan Law Limiting Crypto Miners’ Consumption of Electricity Enters Into Force – Mining Bitcoin News

A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different categories of licenses that companies will have to renew periodically. President Tokayev Sings Law Regulating Crypto Assets Mining and Exchange in Kazakhstan The law “On Digital Assets in the Republic of Kazakhstan,” signed by President Kassym-Jomart Tokayev on Monday, has come into force. The main purpose of the new legislation, approved together with amendments to other…

‘Clients Are Absolutely Interested in Digital Assets’ – Featured Bitcoin News

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Bank of New York Mellon (BNY Mellon) has revealed that its clients “are absolutely interested in digital assets.” Emphasizing the need for clear crypto regulation, the bank’s head of digital assets noted: “We need responsible actors who can offer reliable services that live up to investors’ trust.” BNY Mellon’s Clients Are ‘Absolutely’ Interested in Digital Assets Bank of New York Mellon’s head of digital assets, Michael Demissie, said Wednesday at Afore Consulting’s 7th Annual Fintech and Regulation Conference that digital assets are “here to stay,” Reuters reported. The executive was…

Ground Handling Firm to Use a Blockchain Document Solution at 28 Saudi Airports – Blockchain Bitcoin News

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The Kingdom of Saudi Arabia-based airport ground handling services firm, Saudi Ground Services, has said it plans to implement a blockchain-based document solution that allows it “to issue over 10,000 digital documents annually including licenses.” According to the firm’s Ayman Alghamdi, using this solution allows SGS to not only easily verify documents and licenses but to improve customers’ experience as well. Overcoming the Document Verification Challenge The Saudi airports ground handling services firm, Saudi Ground Services (SGS), recently said it plans to implement a blockchain document solution at 28 airports…

‘Midnight Massacre:’ SEC Crackdown on Crypto Staking Services Prompts Speculation of Further Enforcement Actions – Regulation Bitcoin News

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On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution that is not considered a security. Fox News journalist Eleanor Terrett predicts more regulatory crackdowns on the crypto space in the coming weeks, including enforcement actions against exchanges and banks. Observers Weigh in on the…

Kraken CEO Calls on Congress to Protect US Crypto Industry Following Settlement With SEC Over Staking Program – Regulation Bitcoin News

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The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission (SEC) took action against his trading platform over its crypto staking service. Kraken’s CEO Responds to SEC Action Kraken CEO Jesse Powell urged Congress to pass a law to protect the domestic crypto industry on Thursday after the U.S. Securities and Exchange Commission (SEC) charged his crypto trading platform over its staking service. The Kraken boss tweeted: Congress must act to protect…

Bitcoin Price Outlook for February – Market Updates Bitcoin News

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February has been a rollercoaster ride for cryptocurrency traders, with market volatility leading to high levels of price uncertainty. Following a strong start to the month, bitcoin prices have since plunged, resulting in a current bear run. However, with just over two weeks left of this short month, what else could be in store for speculators? Current Market Status Bitcoin has mostly traded higher this year, boosted by lower levels of inflation, which has in turn prompted the Federal Reserve to hike rates at a slower pace. Since starting the…

Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy Controversy – Bitcoin News

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Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or use portfolio margin with claims against bankrupt cryptocurrency firms. 3AC Co-Founders Launch Bankruptcy-Focused Crypto Exchange, Community Reacts Skeptically Su Zhu, co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), stated on Thursday that…

SOL, ADA Plunge, as Market Momentum Turns Bearish – Market Updates Bitcoin News

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Solana slipped to a three-week low on Feb.10, as momentum in cryptocurrency markets remained firmly bearish. At the time of writing this, the global market cap is trading 4.23% lower, with bears recapturing sentiment. Cardano was also on the decline, falling by as much as 8% today. Solana (SOL) Solana (SOL) prices plunged during today’s session, which comes as bears have seemingly recaptured market sentiment. Following a high of $22.90 on Thursday, SOL/USD moved to an intraday low at $20.20 earlier in the session. This drop resulted in the token…

More Than $2 Billion in USDC Redemptions in 30 Days – Altcoins Bitcoin News

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It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time frame. From Jan. 6, 2023, to Feb. 10, approximately $2.196 billion worth of usd coin was redeemed over the past month. Monitoring the Stablecoin Economy’s Recent Moves Amid 2023’s Regulatory Crackdown According to current statistics,…

BTC, ETH Hit Multi-Week Low, as Sell-off Worsens – Market Updates Bitcoin News

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Bitcoin moved below $22,000 on Friday’s session, as sentiment in cryptocurrency markets remained bearish. Volatility in markets has risen in recent days, following comments from U.S. Fed Chair Jerome Powell, who hinted at ongoing rate hikes. Ethereum also dropped, falling under $1,600. Bitcoin Bitcoin (BTC) extended recent declines on Friday, with prices falling below the $22,000 mark for the first time in several weeks. BTC/USD fell to an intraday low of $21,754.13 earlier today, which comes less than 24 hours after trading at $22,770.22. As a result of this drop,…