DeFi & Ethereum News

2022-07-24 10:20:04 Tighter Crypto Regulation In Thailand Delays Bitkub’s Acquisition

Thailand’s Plan of tightening crypto regulations have caused major setback to retail investors and digital asset enthusiasts. Adding to this, several companies have received a major blow due to this decision. Increased supervision on digital assets comes after the industry witnessed major sell-off over the last couple of months.

Siam Commercial Bank (SCB) is Thailand’s oldest bank was supposed to acquire Bitkub which is a famous crypto exchange. The bank is unable to do that as Thailand recently amped up regulations on cryptocurrencies. A subsidiary of the bank was reported to acquire 51% stake in Bitkub. The timeline mentioned was apparently the second quarter of 2022, the plan was to become a regional fintech post the acquisition. Currently, there is no date in sight for the acquisition to take place. SCB X had announced that it wanted to acquire a stake in Bitkub, last year, November.

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

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2022-07-23 15:37:02 Vitalik Buterin considers Ethereum development only ‘55% complete’ after The Merge

Ethereum founder Vitalik Buterin sees Ethereum’s history moving off-chain to reduce the protocol’s complexity. Speaking on the main stage of EthCC on July 21 about the long-term future of Ethereum, Vitalik stated that Ethereum is going through a transitional state and its development is only “40% complete.”

The merge is coming around September when Ethereum finally moves to proof of stake, the surge relates to the implementation of sharding, the verge brings in verkle trees, the purge will reduce the hard drive space needed for validators, and the splurge will do “all the other fun stuff.” Following the merge this year, Vitalik thinks that “everyone working hard to make it should be super happy at this point.” Further, he believes that Ethereum will be “55% complete.” Sharding will come next, bringing Ethereum “up to 100K transactions per second after the surge.”

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

2022-07-23 10:21:44 @ChartsSignalsTrading just posted their Trading Report For June 2022 with a whooping profit of 1197 %

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Total Trades: 57
Target reached: 47
Stop-loss: 6
Open trades: 4 Open / Comment

2022-07-22 11:45:03 Korean Prosecutors Raided 7 Crypto Exchanges With Connections to Terraform Labs

South Korean prosecutors raided seven local crypto exchanges to investigate a fraud case linked to Terra’s implosion. The operation is to determine if the collapse of the Terra ecosystem was an intentional move done by Do Kwon, the founder & CEO of Terraform Labs.

Seoul Southern District Prosecutors Office raided Bithumb, Upbit, Coinone, and four other exchanges on Wednesday to probe a fraud case linked to the crash of Terraform Lab’s TerraUSD and Luna, according to the local media, Yonhap News Agency. Besides major exchanges, eight other places associated with the people with potential connections to the case were also raided by the prosecutors, the report noted.

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

2022-07-21 21:55:15 Insights and Breaking News on Bitcoin and the whole ecosystem.

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2022-07-21 13:05:04 Bitcoin Rises 7% Over the Day to Hit Five-Week High

Bitcoin (BTC), the world’s largest cryptocurrency by market cap, surged 7% in the past 24 hours and is currently priced at $23,369, according to data from CoinMarketCap. Although this represents a slight decrease from the daily high of $23,759 that was recorded in the early hours on Wednesday, Bitcoin is still trading at levels last seen on June 13th.

The leading cryptocurrency is also up an impressive 17% over the last week, with the latest price action coming amid growing trading volumes. As much as $48.7 billion worth of Bitcoin changed hands across crypto exchanges on Tuesday, with this value standing at more than $47.3 billion in the past 24 hours. For comparison, at the beginning of the month, daily trading volumes fell to just $16.3 billion—one of the lowest points since the start of the year.

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

2022-07-20 18:12:35 @ChartsSignalsTrading just posted their Trading Report For June 2022 with a whooping profit of 1197 %

Join their FREE trading channel: @ChartsSignalsTrading

Total Trades: 57
Target reached: 47
Stop-loss: 6
Open trades: 4 Open / Comment

2022-07-20 11:50:03 US lawmaker criticizes SEC enforcement director for not going after 'big fish' crypto exchanges

In a Tuesday hearing before the House Committee on Financial Services, Sherman said SEC enforcement director Gurbir Grewal needed to show “fortitude and courage” when pursuing securities cases against cryptocurrency exchanges in the United States.

Grewal responded that he was unable to specify if the SEC enforcement division was investigating any crypto exchanges, but referred to a case brought against Poloniex in August 2021 for trading cryptocurrencies deemed securities to U.S. investors on its platform between July 2017 and November 2019. Sherman countered that the crypto trading platform was a “small fish” among other major exchanges, likely referring to Kraken, Coinbase, and Binance US.

Source

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

2022-07-19 13:35:04 Paraguay’s crypto framework one step away from becoming law

The Paraguayan Senate passed a bill on July 14 establishing a tax and regulatory framework for businesses operating in the cryptocurrency and the crypto mining sectors.The bill, introduced last July by Senator Fernando Silva Facetti and passed in Congress in May before reaching the Senate.

Local news outlet ABC reported on July 14 that companies that operate in the crypto industry would be treated the same as those dealing with securities for tax purposes. As a result, they will be exempted by the Undersecretary of State for Taxation from paying a Value Added Tax (VAT) but will be included in the income tax regime. According to reports, Senator Facetti said that modifications made to the bill over the last year “improved the original project.”

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