Author: vansh

The Reserve Bank of India (RBI) published its “Report on Trend and Progress of Banking in India 2020-21” on Tuesday. Central bank digital currencies are covered in the 248-page report. A central bank digital currency (CBDC) complements physical cash by providing a safe, robust, and convenient alternative, according to the RBI, adding that the currency can also be designed as a financial instrument based on various design parameters.” The RBI further stressed, “In comparison with existing forms of money, it can offer benefits to users in terms of liquidity, scalability, acceptance, ease of transactions with anonymity and faster settlement.” Prior…

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Kazakhstan has become a crypto mining hot spot since China launched an offensive against bitcoin miners in May. Central Asia maintains capped electricity rates, despite being a major fossil fuel producer. Central Asia’s infrastructure has been neglected and it lacks adequate power generation capabilities.Authorities have pointed fingers at the mushrooming mining data centers as the cause of the growing deficit, and lawmakers have proposed charging miners more for electricity. It has been alleged that mine representatives have been treated unfairly. Since China launched an offensive against bitcoin miners in May, Kazakhstan has become a crypto mining hot spot. A major producer of…

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Hackers gained control of HP servers belonging to an undisclosed company and repurposed the hardware to mine cryptocurrency. Raptoreum, a top 1000 coin by market cap, was determined to be the coin the hackers would use.On December 9, it began mining Raptoreum, and its hash power was superior to every other party’s at the time. An undisclosed company had a group of HP servers hacked by hackers who took control of the hardware and repurposed it to mine cryptocurrency. It was decided that the hackers would use raptoreum, a coin that is among the top 1,000 coins by market cap, and…

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Bitcoin investors can make real estate purchases directly with cryptocurrency on La Haus, a Colombian real estate platform. The platform features a new housing project in an exclusive area of Santa Marta called Natura City to kick off this initiative in the country.Construction is expected to be completed by 2025 for the complex, which is located less than 200 meters from Colombian beaches. Users can choose whether to pay via Lightning Network or direct on-chain transactions, depending on their preferences, by partnering with payment processor OpenNode for this purpose. La Haus, a Colombian real estate platform, allows bitcoin investors to purchase real…

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A meeting of members of the State Duma, government officials, and cryptocurrency experts has been held to discuss new legislation intended to regulate the cryptocurrency market in Russia.Moscow’s authorities are well aware of the existence and development of the crypto industry, said Gordeev, who is also deputy speaker of the Duma. The industry has yet to adopt proper regulations, according to Gordeev. In spite of the law “On Digital Financial Assets” going into effect in January, a number of related activities and aspects remain outside its scope. State Duma members, government officials, and cryptocurrency experts have met to discuss and propose new…

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Crypto.com announced earlier this month that it would partner with the Angel City Football Club (ACFC), which is the 11th member of the National Women’s Soccer League. Los Angeles is home to the expansion team, which is expected to begin play in 2022. Several high-profile personalities own the team, including Natalie Portman, Serena Williams, and Mia Hamm. For the first time since the Los Angeles Sol folded in 2010, there will be a women’s professional soccer team in Los Angeles. Earlier this month, Crypto.com announced it has partnered with the Angel City Football Club (ACFC), which is the 11th member of the National…

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Legislators have been actively discussing cryptocurrency mining regulations in Russia. Members of the State Duma, the lower house of parliament, have threatened mine workers with jail if they connect their hardware to the electrical grid without permission. In order for mining to become legal, the deputy noted, miners would need to contact their utilities before turning on their devices. He explained that, if they were denied access to the distribution network but nevertheless connected to it, they would therefore be violating both the Administrative Code and the Criminal Code of Russia. According to Lugovoy, the Liberal Democratic Party of Russia,…

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USDC’s issuer, Circle, has launched a stablecoin on the Avalanche network. In response to this development, Circle anticipates that Avalanche projects will have new payment options and opportunities. The stablecoin was already available to Avalanche users through their Ethereum accounts, but it was wrapped, so users had to bridge it to Avalanche. Some viewed the fees associated with this as a source of friction. Circle, the issuer of USDC, has launched a stablecoin on the Avalanche network. Circle expects that this development will provide new opportunities and payment options for projects being developed specifically in the Avalanche ecosystem. Users of Avalanche already had…

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Chaoyang District People’s Court recently rejected a lawsuit filed against a crypto company in the Chinese capital. Beijing Phonf Marketing Technology paid Zyzc Blockchain Technology 10 million yuan ($1.6 million) for mining hardware deployed in Sichuan by Zyzc Blockchain Technology in May 2019. Crypto mining was still tolerated by the central government, but some local authorities, including those in this province, allowed bitcoin farms to use excess hydropower. A lawsuit filed against a crypto company in the Chinese capital by the Chaoyang District People’s Court was recently rejected. One of its clients filed it because he didn’t make money from his investments…

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A former CEO of Bitmex discusses the future of cryptocurrency investors in light of the current market conditions. In Hayes’ latest digest, titled “Circo Loco” (Crazy Circus), he examines the state of the markets taking into account the Federal Reserve’s tapering and the recent default of Evergrande. A significant decline in cryptocurrency prices is expected as a result of the China situation and the Federal Reserve’s accelerated tapering process. Arthur Hayes, former CEO of Bitmex and cryptocurrency investor, weighed in on the way forward for cryptocurrency investors in light of the current market conditions. Hayes expounds on the status of the markets…

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It was announced Monday by Binance that some changes would affect its Singaporean platform, Binance.sg. Noting that the decision was not taken lightly, the exchange outlined: “We are writing to you today to inform you that Binance Asia Services Pte Ltd (BAS) intends to withdraw its licensing efforts in Singapore and wind down its digital payment token (‘DPT’) services in Singapore by 13 February 2022.” According to Binance, with immediate effect, new user registrations will not be allowed on Binance.sg and existing users will not be able to deposit crypto or fiat on the platform. Exchange officials clarified, however, that…

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Swissquote, one of Switzerland’s largest online banks, plans to launch a crypto trading platform. Swissquote’s chief sales and marketing officer, Jan De Schepper, plans to open the company’s own crypto exchange by the end of 2022. Swissquote wants to become “the leading Swiss provider of digital assets,” Jan De Schepper said. Swissquote, one of the largest online banks in Switzerland, is reportedly planning to launch its own crypto trading platform. Jan De Schepper, chief sales and marketing officer at Swissquote, plans to open the company’s own crypto exchange by the end of 2022. Swissquote wants to become “the leading Swiss provider of…

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Users outside of the Russian Federation will be able to access digital ruble wallets through the Central Bank of the Russian Federation (CBR) as well as exchange their rubles for foreign currencies. The Bank of Russia explored the possibility of issuing a central bank digital currency (CBDC) last year. Over a dozen banks and other stakeholders joined CBR’s digital ruble pilot group in June. Bank of Russia will invite credit organizations to participate in the first stage of the trials in 2022 and conduct consumer-to-consumer transactions.  Using the Central Bank of the Russian Federation (CBR) digital ruble wallets will be available to users…

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Today, the Worldwide Asset eXchange (WAX) announced that OKEx Blockdream Ventures is investing in the WAX Blockchain Ecosystem and has acquired a significant position in WAXP tokens. With over 450,000 daily users, WAX is the most used blockchain in the world and the #1 Metaverse blockchain in gaming and NFTs. It processes 15 million transactions daily, including two-thirds of all game-related transactions. In terms of 30 days NFT sales volume, the platform is also the second-highest Layer-1 blockchain after Ethereum. “WAXP has an edge in GameFi, enabling a friendly environment for game developers. They also have high performance and low…

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Cryptocurrencies are only partially regulated by the law “On Digital Financial Assets,” but Russia is now adopting legislation that will establish comprehensive rules for the trading of bitcoin and other cryptocurrencies. The Prosecutor General’s Office of Russia has also joined the effort to have the term “cryptocurrency” incorporated into legal texts. “We have developed amendments to a number of regulatory legal acts so that cryptocurrencies in illegal circulation are not only recognized as а subject of a crime but there’s also a legal possibility of their arrest and confiscation,” Igor Krasnov, deputy prosecutor general of Russia, told RIA Novosti. Other…

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Sony Pictures and AMC Theatres have chosen WAX Blockchain to power their NFT promotion for Spider-Man: No Way Home, the first NFT promotion between a studio and a major theatrical exhibitor. In addition to its eco-friendliness and mass market accessibility, WAX Blockchain was selected. As a special offer, Premiere & A-List members and Investor Connect members will receive a Spider-ManTM NFT using the WAX blockchain when they purchase or reserve tickets for the opening day. WAX processes 15 million transactions per day and has over 450,000 users every day. One of the most popular blockchain wallets in the world, Wax Cloud Wallet has…

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One of the token lending contracts included in Solana’s Program Library (SPL) contained a bug that put the funds of several protocols at risk. There is a group of on-chain programs targeted at the Sealevel parallel runtime on Solana. This vulnerability was reported months ago by a security company, Neodyme, but it has not been fixed because it appears harmless. Due to a rounding error, more tokens are delivered to users than they deposited to the contract. The funds of several protocols were at risk due to a bug in one of the token lending contracts included in Solana’s Program Library (SPL), a…

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An auction for Ross Ulbricht’s Genesis NFT collection, which includes ten pieces by Ulbricht, has been launched on the Superrare NFT marketplace.Entoptic has curated the first and only NFT to include Ross Ulbricht’s personal work.On December 3, @toxicbitcoinmaxi outbid @starrynight with 666 ether on the Superrare website. At the current ether exchange rate, that’s more than $2.6 million in USD. On the Superrare NFT marketplace, an auction was launched for Ross Ulbricht’s Genesis NFT collection, which includes ten works of art by Ulbricht. “Curated by Entoptic, this is the first and only NFT to include Ross Ulbricht’s personal work,” the announcement…

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Janet Yellen says the Federal Reserve has not yet formed an opinion about digital currencies. To determine if a central bank digital currency (CBDC) in the United States has any advantages or disadvantages, including its effects on banking, more research needs to be conducted, according to the Treasury Secretary. The governor of California has called for a digital dollar to be developed as soon as possible. There are three Federal Reserve governors who do not believe the Fed should issue a digital dollar: Michelle Bowman, Randal Quarles, and Christopher Waller. According to treasury secretary Janet Yellen, during an interview at the Reuters Next…

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The regulation of online exchanges working with cryptocurrencies needs to be finalized by 2022. Based on efforts to manage money laundering and terrorist financing risks, the Russian government recognizes cryptocurrencies as a high risk factor for Russia’s financial system. Bitcoin payments are categorically opposed by Russia’s central bank, the Bank of Russia. As a result of a court ruling in October, several cryptocurrency exchange, cash-out, and transfer platforms for Russians could be closed. By 2022, considerations regarding how online exchanges working with cryptocurrencies will be regulated must be concluded. Tass quotes Herman Neglyad, Deputy Director of Russia’s Federal Financial Monitoring Service (Rosfinmonitoring). According…

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