Crypto Never Sleeps Broad

2023-01-13 17:39:47

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2023-01-13 13:10:41 THE LATEST CRYPTO NEWS FROM CNS

Huobi and Solaris crypto-to-fiat debit card launches in the EU

As the crypto space continues to expand into the mainstream, bridging the gap between digital currencies and fiat currency is a priority for many legacy financial institutions.

Cryptocurrency exchange Huobi announced its partnership with Solaris, a European financial services provider, to launch a crypto-to-fiat debit card.

https://cointelegraph.com/news/huobi-and-solaris-crypto-to-fiat-debit-card-launches-in-the-eu


Cardano ecosystem set to expand with custom-built sidechains

The team behind the Cardano ecosystem will release a software toolkit later this month that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem.

The news was announced on Jan. 12 by Input Output Global (IOG), a blockchain engineering company founded by Charles Hoskinson and formerly known as Input Output Hong Kong (IOHK). The announcement included the official technical documentation for the sidechain toolkit.

https://cointelegraph.com/news/cardano-ecosystem-set-to-expand-with-custom-built-sidechains


Crypto payments platform Wyre lifts 90% withdrawal cap

Crypto payment platform Wyre has lifted the 90% withdrawal limit it placed on users earlier this week after securing additional funding.

On Jan. 13, the San Francisco-based fintech firm announced that it had received financing from a “strategic partner” that allows it to continue the normal course of operations, including re-accepting deposits again.

“As a regulated financial institution, we’re proud that we were able to continue delivering our services in a safe and sound manner without pausing withdrawals,” it added.

https://cointelegraph.com/news/crypto-payments-platform-wyre-lifts-90-withdrawal-cap


90% of businesses adopting blockchain technology, data

The crypto and blockchain space has had a turbulent past year, but that is not stopping users and enterprises from looking into the industry.

A new survey from CasperLabs and Zogby Analytics revealed that the sentiment around blockchain adoption is especially positive among enterprises. The poll was conducted via 603 business enterprise “decision makers” in the United States, the United Kingdom and China.

https://cointelegraph.com/news/90-of-businesses-adopting-blockchain-technology-data



US House Republicans plan to establish crypto-focused subcommittee

Republicans in the United States House of Representatives reportedly plan to step up their oversight of the crypto industry with the creation of a new subcommittee.

According to a Jan. 12 report from Politico, North Carolina Representative Patrick McHenry, chair of the House Financial Services Committee, said he planned to set up the subcommittee in part due to “a big hole” in how the committee is currently structured. The new panel will focus on issues related to digital assets, financial technology and financial inclusion, and be chaired by Arkansas Representative French Hill, with Ohio Representative Warren Davidson serving as vice chair.

https://cointelegraph.com/news/us-house-republicans-plan-to-establish-crypto-focused-subcommittee-report Open / Comment

2023-01-12 12:02:22

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2023-01-11 14:31:40 THE LATEST CRYPTO NEWS FROM CNS

Crypto exchange Zipmex probed by Thai SEC amid buyout

The cryptocurrency exchange Zipmex is the focus of a new probe by the Securities and Exchange Commission (SEC) of Thailand for a breach of local rules.

A Bloomberg report revealed that local authorities are looking into activities that they believe may violate business rules for digital asset service providers. This includes its offerings of certain digital asset products.

According to the Thai SEC, Zipmex has until Jan. 12 to clarify whether it has been functioning as a “digital asset fund manager without permission” in Thailand. If true, the firm would have needed to obtain a permit before conducting business in the country.

https://cointelegraph.com/news/crypto-exchange-zipmex-probed-by-thai-sec-amid-buyout


Bitcoin nodes data: Frankfurt houses the largest city-wide network

While the United States holds the biggest share of Bitcoin hash rate contribution and ATM network, the city hosting the most reachable Bitcoin nodes — a crucial pillar of the Bitcoin network — is Frankfurt, Germany.

Bitcoin nodes are a distributed network of computers that run the Bitcoin software and accept a set of proof-of-work (PoW) consensus rules to validate and broadcast transactions on the blockchain. Of the 43,706 nodes hosted across 134 countries, the U.S. hosts 9,999 (30.53%), while Germany ranks second with 4,529 (13.83%) nodes, according to data from Bitnodes.

https://cointelegraph.com/news/bitcoin-nodes-data-frankfurt-houses-the-largest-city-wide-network


USDC transfer volume hit 5X USDT’s in fallout from FTX collapse

Stablecoin USD Coin has grown in popularity since the collapse of FTX. It now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether according to data from blockchain analytics firm Glassnode.

That’s despite the market cap of USDT being $23 billion greater than USDC. As of Jan. 10, the difference was in USDC’s favor by a margin of four and a half times.

https://cointelegraph.com/news/usdc-transfer-volume-hit-5x-usdt-s-in-fallout-from-ftx-collapse


Optimism and Arbitrum flip Ethereum in combined transaction volume

Ethereum layer-2 on-chain activity has been increasing to the extent that the leading two networks now process more transaction volume than mainnet Ethereum.

Layer-2 networks Arbitrum and Optimism have seen an increase in transactions over the past three months. Comparatively, aside from a few spikes, transactions on the Ethereum network have declined by around 33% since late October, according to Etherscan.

This has enabled the two L2s combined to flip Ethereum for this metric, according to Dune Analytics data.

https://cointelegraph.com/news/optimism-and-arbitrum-flip-ethereum-in-combined-transaction-volume


Proposed bill in Argentina encourages citizens to reveal crypto holdings

Argentina’s Ministry of Economy, the country’s economic policy manager, has drafted a bill to encourage Argentines to declare their cryptocurrency holdings, using the inducement of discounted tax rates.

Aimed at combating money laundering, the “Externalization of Argentine Savings” draft law was introduced by economy minister Sergio Massa, according to a Jan. 6 report by local outlet Errepar.

https://cointelegraph.com/news/proposed-bill-in-argentina-to-encourage-citizens-to-reveal-crypto-holdings Open / Comment

2023-01-10 23:44:06

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2023-01-09 14:23:38 THE LATEST CRYPTO NEWS FROM CNS

Swyftx to chop its ‘Earn’ program this week, citing murky regulations

Australian crypto exchange Swyftx is set to shutter its crypto-interest product this week, citing a “constantly changing regulatory landscape” for crypto products in the country.

From Jan. 10, the crypto exchange will cease to operate the “Earn” program, with users having their entire Earn balances returned to their trade wallets.

Swyftx said while the decision might be “disappointing” for users, it is “committed to doing what is best for the program in the near term.”

https://cointelegraph.com/news/swyftx-to-chop-its-earn-program-this-week-citing-murky-regulations


Wyre imposes up to a 90% withdrawal limit for all users

Crypto payment platform Wyre modified its withdrawal policy to limit users from cashing out up to 90% of their assets, just days after two former employees allegedly hinted at the possibility of a shutdown.

On Jan. 7, Wyre imposed a withdrawal limit on its platform, citing “the best interest of our community.” Following the policy modification, Wyre users can withdraw up to 90% of their crypto funds as the company explores strategic options to circumvent the prolonged bear market.

https://cointelegraph.com/news/wyre-imposes-up-to-a-90-withdrawal-limit-for-all-users


Mastercard Taps Polygon to Empower Emerging Artists in Web3 Tech

Mastercard, the payments giant, has partnered with Polygon, an Ethereum scaling platform, to introduce emerging artists into Web3 technology. Mastercard’s artist accelerator, as the program is called, will teach five different emerging artists, including singers, musicians, DJs, and producers, to use blockchain tools to grow their brand and fan engagement.

https://news.bitcoin.com/mastercard-taps-polygon-to-empower-emerging-artists-in-web3-tech/ Open / Comment

2023-01-08 01:48:59

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2023-01-06 17:26:45

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2023-01-06 14:12:14 THE LATEST CRYPTO NEWS FROM CNS

French central bank governor pushes for crypto licensing ahead of EU laws

The Bank of France’s governor has called for more stringent licensing requirements for crypto companies in France, citing the current turmoil in the crypto markets.

During a speech in Paris on Jan. 5, Francois Villeroy de Galhau said France shouldn’t wait for upcoming EU crypto laws to enact obligatory licensing for local digital asset service providers (DASPs).

The European Parliament’s Markets in Crypto Assets bill (MiCA) that provides a crypto-licensing regime isn’t expected to come into force until potentially sometime in 2024.

https://cointelegraph.com/news/french-central-bank-governor-pushes-for-crypto-licensing-ahead-of-eu-laws


CME Group to launch 3 metaverse reference rates

Derivatives marketplace CME Group is planning to launch reference rates and real-time indexes for three metaverse crypto assets, allowing investors to track pricing data more reliably using a methodology commonly used in traditional finance.

Beginning Jan. 30, CME Group and CF Benchmarks will launch reference rates for Axie Infinity Shards, Chiliz (CHZ) and Decentraland’s MANA, the company announced on Jan. 5. The reference rates and indexes are not tradeable products but instead can be used by investors to “price sector-specific portfolios, develop structured products and manage price risk around various Metaverse-based projects,” said Giovanni Vicioso, CME Group’s head of cryptocurrency products.

https://cointelegraph.com/news/cme-group-to-launch-3-metaverse-reference-rates


US authorities to intensify scrutiny of crypto industry in 2023

Fourteen years after Bitcoin’s genesis block launched a profound disruption in financial services and other industries through the rise of blockchain technology, United States authorities are finally becoming more interested in cryptocurrencies’ future and economic impact.

On Dec. 14, the Financial Accounting Standards Board discussed new accounting and disclosure requirements for entities holding crypto assets in financial statements, following an agenda consultation with investors — the first in five years. The proposed rules are expected to be issued in the first half of 2023.

https://cointelegraph.com/news/us-authorities-to-intensify-scrutiny-of-crypto-industry-in-2023 Open / Comment