Tag: News

Ethereum’s transition to proof-of-stake | Blockchain News

ssv.network, a provider of validator infrastructure, has announced the introduction of a new ecosystem fund to assist Ethereum proof-of-stake decentralisation. The business said that this step will foster innovation around Ether (ETH) staking technology. The business made the announcement on January 19 about the ecosystem fund, which has a value of fifty million dollars and would help companies creating apps employing distributed validator technology, or DVT. The primary purpose of the fund is to provide financial support for DVT use cases that contribute to Ethereum’s efforts to decentralise the platform…

Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy – Finance Bitcoin News

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The ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the new currency will be “preserving privacy by default and by design.” Eurogroup to Remain Involved in Digital Euro Development, Says Many Decisions Are Political Finance ministers of the EU member states that have adopted the common European currency, the Eurogroup, met on Monday in Brussels to mark Croatia’s accession to the…

Thailand Issues New Regulations on Custodied Cryptocurrencies – Regulation Bitcoin News

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The Securities and Exchange Commission (SEC) of Thailand has issued new regulations on custodied cryptocurrencies. Companies offering crypto custody services are now required to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets,” the regulator described. Thai SEC’s New Crypto Rules Thailand’s Securities and Exchange Commission (SEC) announced Tuesday that it has issued new rules on the “management of digital wallets for custody of digital assets and keys.” The new regulations went into effect on Jan. 16. The…

South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools – Regulation Bitcoin News

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South Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regulator warned that while the impact of the crypto market on the traditional financial system is still low, the risks posed by crypto to the country’s financial stability could increase sharply in the future. Korean Regulator Developing Crypto Monitoring Tools South Korea’s Financial Supervisory Service (FSS) is planning to develop crypto monitoring tools and regularly inspect the risks associated with crypto assets, FSS Governor Lee Bok-hyun reportedly revealed Monday at a conference on the interconnectedness between…

Japan Urges Regulators Worldwide to Subject Crypto Exchanges to Bank-Level Oversight – Regulation Bitcoin News

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Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal controls, and the absence of regulation and supervision.” Bank-Level Cryptocurrency Regulations Japan’s Financial Services Agency (FSA), the country’s top financial regulator, has urged regulators globally to subject cryptocurrency exchanges to bank-level regulations, Bloomberg reported Monday. Mamoru Yanase, deputy director-general of the FSA’s Strategy Development and Management Bureau,…

Average Onchain Fees Jump by More Than 50% – Altcoins Bitcoin News

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While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average cost is 54% higher at $4.52 per transfer. Rise in Ethereum Value Leads to Increased Onchain Transaction Costs Sending ethereum (ETH) is becoming more costly as the crypto asset’s value has risen greatly over the…

Bitzlato Exchange Busted as US Deals ‘Blow to Crypto Crime,’ Arrests Owner – Exchanges Bitcoin News

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Cryptocurrency exchange Bitzlato, better known to the Russian-speaking segment of the market, has been taken down as part of an “international cryptocurrency enforcement action,” the U.S. Justice Department announced. The Russian owner of the platform has been arrested for his role in the alleged transmission of illicit money. Bitzlato claimed it was hacked. US, France Hit Cryptocurrency Exchange Bitzlato, Russian Co-founder Detained in Miami U.S. authorities have apprehended Anatoly Legkodymov, a resident of China, on charges that his Hong Kong-registered crypto trading platform, Bitzlato, processed illicit funds worth hundreds of…

Nearly $1 Billion Poured Into Egypt’s Forex Market — Local Currency Now World’s Worst Performing Currency in 2023 – Economics Bitcoin News

The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a year or less similarly is said to vindicate the central bank’s devaluation of the pound. Surge in Treasury Bill Sales Foreign investors reportedly moved $925 million into Egypt’s foreign exchange market just days after the local currency’s exchange rate versus…

Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis – Bitcoin News

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According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to retail investors.” Digital Currency Group Takes Steps to Strengthen Balance Sheet by Suspending Dividends On Jan. 17, 2023, Coindesk reporter Ian Allison published an article disclosing that the Digital Currency Group (DCG) is suspending dividend payments…

Sam Bankman-Fried Disputes FTX US ‘Shortfall’ Claims, Critics Skeptical of Excel Spreadsheet Defense – Bitcoin News

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Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent and “always has been.” SBF Claims Misrepresentation by Litigation Firm, Twitter Critics Doubt Solvency Sam Bankman-Fried (SBF) is providing additional information in response to the recent press release and 20-page presentation document issued by FTX…