Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading – Regulation Bitcoin News

Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of exchange platforms. Kazakhstan’s Financial Hub Seeks to Amend Its Concept for Trading Digital Assets The Astana Financial Services Authority, the body that oversees the Astana International Financial Center (AIFC), has published a consultation paper detailing proposals aimed at upgrading Kazakhstan’s regulated ecosystem for cryptocurrency operations. The document suggests measures to reduce market risks in…

MicroStrategy says no plans to stop trading BTC as paper loss hits $1.3B

Software analytics company MicroStrategy recorded a paper loss of over a billion dollars on its Bitcoin (BTC) holdings in 2022 but says it has no plans to stop trading the digital asset. MicroStrategy released its 2022 Q4 and year-end earnings on Feb. 2 showing the recorded impairment charges on its BTC holdings, net of gains on sale, was nearly $1.3 billion over the full year 2022. Despite the paper losses, on a Feb. 2 earnings call MicroStrategy’s chief financial officer, Andrew Kang, said: “We may consider pursuing additional transactions that…

Porsche NFT trading volume nears $5M: Nifty Newsletter, Jan 25–31

In this week’s newsletter, read about how Moonbirds founder Kevin Rose lost nonfungible tokens (NFTs) worth more than $1.1 million. Find out why an NFT collector is suing NFT marketplace OpenSea over locking his account for three months and how the Porsche NFT collection gained almost $5 million in sales volume, despite a failed launch. In other news, find out how NFT trademarks could potentially be a reliable signal for NFT traders. Lastly, professionals within the Web3 space shared various ways to combat NFT theft.  Moonbirds creator Kevin Rose loses…

Orion Protocol Loses $3M of Crypto in Trading Pool Exploit

Orion was the victim of a reentrancy attack (in which an attacker repeatedly withdraws funds from a smart contract), PeckShield said in a Twitter message. Gal Sagie, CEO of cybersecurity company Hypernative, said the attacker deployed a fake token called ATK which was used to manipulate the orion pools. It utilized a self-destructing smart contract. Source

Here’s how Kazakhstan aims to enhance its legacy crypto trading framework

Kazakhstan, one of the world’s biggest Bitcoin (BTC) mining destinations, issued a consultation paper to gauge public interest in proposed amendments to improve the cryptocurrency trading framework. The policy paper, released on Jan. 27, was laid down by the Astana Financial Services Authority (AFSA), a Kazakh regulator. The AFSA pointed out that the Astana International Financial Centre’s Digital Asset Trading Facility (DATF) regulatory framework dates back to 2018 and that the amendments seek to introduce certain enhancements. AFSA’s analysis highlighted problems related to the ongoing supervision of crypto exchanges, revealing “contradictions, inefficient provisions and uncertain…

Crypto Trading Firm Cumberland Can Trade Crypto With Canadian Dollars

“It’s not unexpected” for Cumberland to announce support for crypto transactions denominated in Canadian dollars, said Alex McDougall, president and CEO of Stablecorp, a fintech firm that created QCAD, a stablecoin pegged to the Canadian dollar. “It will be interesting to see if the entry of a major global player like this impacts Canadian dollar pricing out to end retail customers as we still pay a significant spread in Canada,” he added. Source

3 tips for trading Ethereum this year

Cryptocurrency is a notoriously volatile industry, regardless of what coin you’re trading. During periods of extreme volatility, it’s easy to become disheartened when trades don’t go your way. It’s also easy to become overconfident when you get lucky, falsely attributing it to your trading strategy — when, in reality, the price often rose or fell for reasons other than you assumed. Despite the uncertainty, there are sometimes still strategies you can use to trade certain tokens successfully. Ether (ETH) is arguably where you might be able to succeed this year.…