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2022-07-22 09:12:40 The UK to Introduce Bill For Stablecoins Payments

The United Kingdom regulator will propose using stablecoin– cryptocurrencies whose prices are pegged to another asset– for payment in the Parliament on Wednesday. UK Finance Minister, Nadhim Zahawi, will present the Financial Services and Market Bill in Parliament on July 20 to transfer the UK financial services sector. UK finance members believe crypto assets and stablecoins can change the financial environment and establish the nation as a global leader in digital finance, post-Brexit. The Financial services and Market bill will set standards for using stablecoins as payments due to the rise of crypto in retail and other businesses.

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2022-07-22 05:25:06 Bitcoin mining difficulty expected to see largest drop since China ban

Bitcoin (BTC) mining difficulty is expected to adjust downwards by about 4.5% during the next adjustment window, on July 21 at around 7 p.m. BST, according to an analysis conducted by CryptoSlate using Glassnode data. This event will mark the most significant decrease in mining difficulty since China’s crackdown on Proof-of-Work (PoW) mining in May 2021. The chart below shows four past instances of a significant downward adjustment. These occurred in March 2020, May 2020, October 2020, and July 2021, with the adjustment in July being the most significant drop.

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2022-07-21 21:05:08 Tesla Sold Its Bitcoin Because of COVID Lockdowns in China

During Today's Tesla earnings call, Tesla CEO Elon explained the reason for the company’s sale of 75% of its Bitcoin holdings, worth approximately $936 million, as noted in its Q2 earnings report. Although China had eased COVID restrictions in major cities at the end of May.As a result, China’s “zero COVID policy” is again being put to the test, prompting new warnings of larger economic headwinds.

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2022-07-21 16:51:08 US senator blasts SEC for non-judicial actions against crypto companies

Emmer posted a video on July 19 showing his conversation at the House Committee on Financial Services where he accused the SEC of politicizing regulations. He went on to grill SEC Enforcement Director Gurbir Grewal over SEC’s unethical “industry sweeps” against crypto companies. The Senator went on to enquire whether these sweeps against crypto companies fall under the jurisdiction of the SEC and what actions the commission takes against companies that don’t volunteer for such voluntary questioning.

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2022-07-21 06:57:07 Gemini receives virtual asset service provider license in Ireland

New York-based crypto trading platform Gemini claims to be the first one to get registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland (CBI). Earlier, in February 2022, a company received an Electronic Money Institution (EMI) authorization from the CBI. Individuals and institutions in Ireland now can access Gemini’s exchange and custody services to buy, sell, and store over 100 cryptocurrencies along with the euro and British pound.

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2022-07-20 22:20:07 21Shares launches S&P risk controlled Bitcoin and Ether ETPs

The Swiss crypto investment firm 21Shares has launched two new exchange traded products (ETP) offering investors exposure to the largest cryptocurrencies — Bitcoin (BTC) and Ether (ETH) — while aiming to soften volatility via rebalancing assets to the U.S. dollar (USD). The new products, the 21Shares S&P Risk Controlled Bitcoin Index ETP and 21Shares S&P Risk Controlled Ethereum Index ETP, will start trading on the Swiss SIX Exchange on July 20. The ETPs will trade under tickers SPBTC and SPETH, the firm announced on Wednesday.

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