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2022-09-01 04:48:02 Paraguay’s President Turns Down a Proposed Crypto Mining Bill

President Mario Abdo Benítez did not greenlight the regulatory bill, which could have turned cryptocurrency mining into an industrial activity. The President of Paraguay – Mario Abdo Benítez – vetoed a bill that could have regulated cryptocurrency mining and turned it into an industrial activity. The reason appears to be the high electricity consumption.

Over the past several months, Paraguay made some significant steps toward the digital asset universe. Some reports suggested that the South American country might follow El Salvador’s example and make bitcoin legal tender. At the end of 2021, the Senate approved a bill that could have regulated and promoted cryptocurrency trading and mining activities. He argued that crypto mining operates in a gray area, and it also uses a considerable amount of energy, which could harm Paraguay’s national electricity network:

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-08-31 11:30:49 Thodex crypto exchange’s CEO arrested for allegedly defrauding investors of $2.7 billion

The founder of Turkish cryptocurrency exchange Thodex Fatih Özer has been arrested in Albania following his 2021 disappearance with funds belonging to roughly 400,000 users. Following the arrest, extradition procedures have been initiated by the Interpol Department of the General Directorate of Security, Turkey’s Interior Ministry said in a statement published on August 30.

Özer is accused of disappearing with about $2.7 billion in user funds back in April 2021, when Thodex was considered one of the largest crypto trading platforms in the country. The exit scam was initiated at a period when Bitcoin (BTC) and the general crypto market were experiencing a bull run. Notably, before Özer’s disappearance, the exchange had halted the ability of customers to withdraw their funds with the platform offering no concrete information.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-08-30 09:10:07 GammaX Raises $4M to Launch Crypto Derivatives Exchange on Ethereum Layer-2 Solution

GammaX, a Singapore-based company building a new high-performance hybrid crypto derivatives exchange, announced the closure of a $4 million seed round, backed by the likes of StarkWare, the developer of zero-knowledge proof technology, and liquidity provider Dexterity Capital. More specifically, GammaX says that to achieve lower latency and better user experience.

Some examples of the applications deployed on StarkEx include dYdX, a popular margin trading platform that follows the order book model, NFT-centric projects Immutable and Sorare, as well as the spot decentralized exchange (DEX) DeversiFi. GammaX says perpetual contracts trading requires rapid price feed updates amongst a variety of trading pairs. Gathering this info is impossible to scale on layer 1 in terms of speed and cost-effectiveness. The StarkEx technology also brings other competitive advantages.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-08-29 10:37:02 Ethiopia-Based Crypto Service Providers Told to Register With the Country's Cybersecurity Agency

Cryptocurrency service providers operating in Ethiopia are now required to register with the country’s cybersecurity agency known as the Information Network Security Administration (INSA), a report has said. According to the agency, legal measures will be applied to crypto entities that fail to comply with its registration call.

The Ethiopian cybersecurity agency, the Information Network Security Administration (INSA), has reportedly started registering crypto service providers operating in the country. The agency’s registration of crypto entities was made possible by the amendment of a law that paved the way for the re-establishment of the INSA. According to a report published by the Ethiopian Monitor, the amended law gives the cybersecurity agency the power.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-08-28 12:49:07 Share the Olympus Game with the world

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Discord | Twitter | YouTube | TG Ann | Medium Open / Comment

2022-08-28 04:08:02 $80 Billion Gone From Crypto Markets as Bitcoin Dumped to 6-Week Low

The cryptocurrency market cap has plunged below $1 trillion following the latest price slumps. After the recent stagnation, bitcoin finally began moving and dumped to a six-week low beneath $20,000. Most altcoins are deep in the red as well. Ethereum is down to $1,500, while SOL, ADA, and AVAX have declined by up to 8% in a day.

Last week was particularly harmful to the primary cryptocurrency, which dumped from $25,200 to $21,000 in a matter of days. Since that enhanced volatility, the asset calmed and spent most of the following days trading in a range between $21,000 and $22,000. However, Jerome Powell addressed the nation and reiterated previous Fed statements about trying to bring back down inflation to 2%. Although this has been said numerous times in the past, it had an immediate effect on BTC’s price.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-08-27 11:10:02 Zipmex to Meet Thai SEC and Potential Investors to Discuss Recovery Plan

Zipmex has asked for a meeting with regulators and potential investors to present a recovery plan. The exchange also re-enabled its Z wallet. Beleaguered crypto exchange Zipmex has made multiple developments in its bid to fix its financial woes. The exchange also re-enabled its Z wallet, which allows users to receive bonuses and earnings.

Zipmex has asked for a meeting with the Securities Exchange Commission (SEC) in Thailand and government agencies. The hope is that together they will be able to discuss the recovery plan, and the potential investors will attend this meeting as well. The exchange also revealed that it was working with representatives from KordaMentha, who will work as financial advisors and proposed scheme managers to help Zipmex as they navigate financial restructuring.

Source

https://t.me/Cash_Blockchain_News Open / Comment

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3S Wallet is built on user experience. Therefore, we need users' opinions to optimize the wallet's features. Open / Comment

2022-08-26 04:44:02 Bitcoin selling pressure subsides as BTC exchanges deposits hit a 2-year low

The ongoing crypto market volatility has pushed investors to adopt different approaches to maneuver the bearish environment. For instance, investors seem to be waiting for a possible market rally in the future by opting to HODL their Bitcoin (BTC). Indeed, as of August 25, Bitcoin’s crypto exchange deposits under the seven-day moving average plunged further to hit a two-year low.

The latest dip in exchange deposits comes as Bitcoin faces the threat of correcting below $20,000. By press time, the asset was trading at $21,600 with minimal gains of less than 1% over the last 24 hours. Consequently, the investors’ confidence in the market also appears to have dampened at a time most addresses are recording losses. Glassnode data further indicates that the number of Bitcoin addresses in loss on a seven-day moving average has also hit a one-month high of 18,047,967.768 as of August 25.

Source

https://t.me/Cash_Blockchain_News Open / Comment