Biggest Movers: NEAR Hits 1-Month Low, XMR Down 12%
NEAR saw recent losses extend on Wednesday, as it fell to a one-month low during today’s session. The decline in NEAR came as XMR also traded in the red, falling to a multi-week low in the process. NEAR Protocol (NEAR) NEAR was one of the biggest tokens to fall on hump-day, as prices fell to […]
Former Chinese Central Bank Governor: US Dollar Will Remain Global Reserve Currency, Says It ‘Has Great Inertia’
In remarks that appear to pour cold water on assertions that digital currencies will topple the U.S. dollar anytime soon, a former governor of the Chinese central bank, Zhou Xiaochuan, insisted the greenback will remain in its position as the global reserve currency. Xiaochuan said the dollar still “has great inertia.” Process to Change Role […]
Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador
According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use […]
Bitcoin, Ethereum Technical Analysis: BTC Slips Below $40,000 yet Again, Following Brief Rebound on Tuesday
Following a brief rally on Tuesday, BTC once again dropped below the $40,000 level during today’s session. Wednesday’s selloff has seen prices fall by as much as 4%, whilst ETH also declined by the same amount. Bitcoin The world’s largest cryptocurrency moved lower on Wednesday, following a brief rally during yesterday’s trading session. Following a […]
L2 Scaling Startup Optimism Reveals Governance Collective, Native Token, and ‘Many Airdrops’
The layer two (L2) Ethereum scaling project Optimism has announced the launch of Optimism Collective, “a large-scale experiment in digital democratic governance” managed by the newly created Optimism Foundation. In addition to the governance collective, the plan is to launch a token called “OP” that aims to “govern protocol upgrades and project incentives.” Ethereum Scaling […]
Bank of Spain Report Warns About Cryptocurrency Usage and Its Effect on Financial Stability
The Bank of Spain has issued a new report that touches on the subject of the popularity of cryptocurrency usage and the possible effects it might have on the financial stability of the nation. In the document, the bank explains that these assets — which ostensibly don’t have any kind of support behind them — […]
Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion
The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it easier for tax agencies all over the world to curb evasion. The organization has already made use of financial information to collect taxes […]
National Assembly of Panama Advances Discussion of Cryptocurrency Law Project
The National Assembly of Panama has advanced a cryptocurrency law project that seeks to regulate cryptocurrency activity to give more clarity to the sector in the country. The proposal, which was approved in the first discussion, was composed of two different projects presented to the economic affairs commission of the Assembly. Panama Moves to Regulate […]
Mining Report Shows Bitcoin’s Electricity Consumption Decreased by 25% in Q1 2022
At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report that discusses the bitcoin mining industry’s improvements in sustainable energy use during the first […]
Kraken Becomes First Global Crypto Exchange Fully Licensed by Abu Dhabi Global Market
Abu Dhabi Global Market has awarded a full financial license to crypto exchange Kraken. “Kraken will be the first global virtual assets exchange group in the UAE to offer investors the ability to invest, trade, withdraw and deposit virtual assets (bitcoin and ether) directly in local AED currency,” the regulator explained. Kraken Establishes Middle East […]
