Crypto | Bitcoin | Blockchain

2023-06-25 13:51:02 Brazil’s Largest Exchange Mercado Bitcoin Added To Country’s CBDC Pilot

Brazil’s central bank has authorized Mercado Bitcoin, the largest local crypto exchange, to participate in the country’s CBDC pilot project. Meanwhile, Brazil’s state-owned Caixa Bank was also approved to participate in the project on the same day. “Our participation validates the Central Bank’s intention to bring innovation to the financial system with those who have already been working with this technology and not just with the incumbents who have appropriated it,” said Fabricio Tota, director of new business at Mercado Bitcoin, Valor added.

Mercado Bitcoin officially became a payment institution on June 2, a week after the pilot participants were identified. As previously reported, in May this year, the Central Bank of Brazil selected 14 institutions to participate in the CBDC pilot project, including large local private banks such as Bradesco, Nubank, and Itaú Unibanco, as well as such as Brazil’s largest bank Banco do Brasil and domestic securities companies B3. Multinational companies such as Visa and Microsoft were also selected to participate in the project. Brazil’s central bank aims to launch the digital currency by 2024 after a closed pilot program next year with financial institutions, bank president Roberto Campos Neto said on Tuesday time adding that the project has received international attention.

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2023-06-24 17:58:02 MUFG To Issue Global Stablecoins Backed By Foreign Currencies Via Progmat Blockchain

Japan’s Biggest Bank, MUFG, is in talks to issue global stablecoins. The nation’s legislation on stablecoins took effect on June 1. MUFG has its Progmat blockchain platform for minting tokens. According to Bloomberg, Japan’s stablecoin law became effective on June 1, and only licensed banks, registered money transfer agents, and trust companies can issue the tokens. MUFG plans to issue stablecoins tied to foreign currencies, including the US dollar, for use globally. The bank is also working on security tokens for third parties.

Tatsuya Saito, the Vice President of Product at MUFG, said that inquiries for stablecoin projects are coming in from overseas financial groups and that Japan could become a global hub for stablecoin issuance. This is a great opportunity for Japan, as Prime Minister Fumio Kishida’s agenda for reinvigorating Japan’s economy includes support for the growth of Web3 firms, which refer to a vision of a decentralized internet built around blockchains, crypto’s underlying technology. Japan’s legislation promotes tokens that are fully backed by fiat cash in a matching currency. This makes using stablecoins safer for issuers and users alike. The fact that stablecoins can be denominated in dollars.

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2023-06-21 15:40:52 Bitcoin Dominance Now Reaches 50%, Highest In 2 Years

While maintaining largely stable in recent days, Bitcoin dominance has risen to more than 50% for the first time in more than two years. According to TradingView data, Bitcoin’s market capitalization has surpassed that of all other cryptocurrencies combined. This comes as the majority of the larger-cap alts have been seeing slight daily losses. All eyes were on the United States as the CPI data and the Fed’s next FOMC meeting, both of which were due to be revealed and held this week.

The inflation numbers, which were released on Wednesday, showed a small decrease. Yet, this had little impact on BTC’s price movement. On Thursday, the Federal Reserve, rather predictably, chose to stop its monetary strategy of rising interest rates. Bitcoin’s dominance last approached 50% in June 2022, when the whole crypto market crashed due to consistently rising inflation in the United States, prompting the Federal Reserve to tighten monetary policy aggressively. Interestingly, Bitcoin’s market domination has increased by more than 10.5% since November 27, 2022, owing mostly to investors seeking a safe haven in the aftermath of the FTX crisis and rising governmental scrutiny of crypto assets in the United States.

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2023-06-19 16:51:57 Crypto Scam in Texas Led to Lawsuit Between a Bitcoin ATM Operator and a Local Sheriff: Report

Sheriff McNamara supposedly remained unfazed by the legal battle started by Bitcoin Depot, saying the company “can go to hell.” Lux Vending – doing business as Bitcoin Depot – has reportedly filed a lawsuit against the sheriff’s office of McLennan County, Texas, accusing it of unlawfully seizing $15,000 from a BTC automated teller machine (ATM). The authorities confiscated the amount to compensate an elderly victim who had become a victim of a cryptocurrency scam.

According to local coverage, the whole drama started at the end of April when an 82-year-old Crawford woman was browsing the Internet for a cooking recipe. While online, she received an email stating she had accidentally activated a “Ransomware” computer virus. The woman contacted “customer support,” where she was redirected to a specially-designated “fraud investigator.” The latter claimed all her personal data had been compromised, adding that someone had written a $15,000 check to a mysterious construction firm using her details. The wrongdoer advised the victim to make a $15K cash withdrawal from her bank and deposit the money into a bitcoin ATM in Waco, Texas.

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2023-06-18 10:39:04 Wyre Closed Soon, Users Can Withdraw Assets Before July 14

Wyre, a crypto payments company, tweeted that the company will close soon due to market conditions. Users can now withdraw assets until July 14. The company emphasizes that it will continue to protect the safety of customers’ assets. Users with assets on the Wyre platform will have until July 14 to withdraw their assets through the company’s dashboard, after which there will be a separate process for recovering assets remaining on the platform. The reason for this action is attributed to the current crisis in the market.

“If you have assets on the Wyre platform, you can withdraw them via Wyre’s dashboard through Friday, July 14. After then, we will have a separate process to recover assets remaining on the platform. We will post details on the process on our website and blogs.” As previously reported, in January of this year, Wyre informed employees that the company would be liquidated but later said that it had received financing from a strategic partner and could continue operating regular operations and remove the customer’s withdrawal limit. The sudden and rapid collapse of FTX has once again plunged the crypto industry into a cold winter.

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2023-06-17 16:23:02 Delio Holds Press Conference On June 17 To Explain FUD To Haru Invest

According to the official website, South Korean crypto-finance firm Delio has announced that it will hold an investor briefing in Seoul on the morning of June 17. Delio said the purpose of the investor briefing was to apologize for the current situation, explain the FUD and resolve the issues. The Korean cryptocurrency company will also report to investors on the current situation and discuss a possible return on investment plan. The company says that only customers who use its services can join the meeting.

Ahead of the news on June 14, Delio made an announcement about the withdrawal halt, stating that this was due to increased market volatility after Haru Invest halted withdrawals. This is the result of Haru Invest announcing suspending users’ deposits and withdrawals on June 13 due to problems with their partners. However, the company had previously announced that it could not disclose more specific information about its partners due to worries about being unable to control the news. Delio is committed to finding all solutions to protect the interests of customers and updating the latest information on the situation as well as remedial solutions.

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2023-06-14 09:15:20 Uniswap Labs Revealing New Version Of Uniswap

According to a June 13 blog post by Uniswap’s Founder, Hayden Adams, Uniswap Labs has published a draft of the code for Uniswap V4. The new code includes “hooks” or plugins that enable developers to construct their own liquidity pools. The new design will be more efficient, with preliminary data indicating that it will lower the cost of pool construction by 99%. It will also enable developers to make their own compromises, enabling them to create minimalistic pools that are less expensive to operate.

Perhaps the most significant difference is that it opens up a far larger playing field for developers to construct their own pools with their own rules, possibly leading to much more experimentation. For the first time, Uniswap Labs is soliciting community input on Uniswap v4 prior to its public release. This community-driven initiative is intended to highlight Uniswap’s commitment to decentralization. It is a significant distinction intended to distinguish decentralized exchanges (DEX) from centralized exchanges (CEX), such as Coinbase and Binance, which are now facing SEC litigation. Uniswap is the world’s biggest decentralized crypto exchange by volume.

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