Google permits crypto ads on its search engine once more
Search engine giant Google is now allowing cryptocurrency exchanges and wallet service providers to run adverts on its platform again. This latest development was thanks to its June coverage coming into effect earlier this week. The new coverage permits authorized crypto exchanges and wallets the freedom to market their services and products on the Google search engine. Companies that want to run adverts will have to be registered with the Financial Crimes Enforcement Network (FinCEN) and will need to be registered as a money services enterprise in at the very least one state in the US or be a federally chartered bank. Google mentioned initial coin offerings (ICOs) and advertisements promoting trading alerts, investment recommendations,s and broker reviews aren’t allowed on the search engine.
HSBC joins the listing of UK banks to ban Binance payments
The regulatory pressure on Binance in the UK continued this week after one other main financial institution banned transactions to the crypto change. HSBC, the world’s sixth-largest bank, introduced earlier this week that its prospects aren’t allowed to fund their Binance accounts utilizing credit score/debit cards and bank transfers. The financial institution mentioned it’s following the announcement by the Financial Conduct Authority (FCA) that Binance Markets Limited isn’t authorized to operate in the UK. HSBC joins the likes of Barclays and Santander in banning payments to the Binance exchange in the UK. The transfer additionally comes barely every week after Binance was banned in Malaysia for working and not using a license.
Bitcoin SV suffers a 51% attack
Bitcoin SV is the most recent main cryptocurrency to undergo a 51% attack. The attack occurred earlier this week, with the attacker efficiently reorganizing 14 blocks on the network earlier than relinquishing control. Following the attack, there was confusion throughout the Bitcoin SV ecosystem as swimming pools had been mining utterly different block heights. The attack didn’t lead to a lot of price loss for Bitcoin SV, because it solely dropped by roughly 5% 24 hours after the attack.
Ethereum network activates the London hard fork
The Ethereum network lastly activated the London hard fork earlier this week, following months of discussion and development. The London hard fork is designed to make the fee structure on the Ethereum network extra predictable. Whereas this improvement doesn’t cut back the gas charge on the Ethereum network, it makes it extra predictable for users. With the EIP-1559 upgrade, the transaction fee system will be automated, with the blockchain having a set fee amount that will fluctuate depending on the network congestion. The London upgrade also takes the Ethereum blockchain nearer to a migration to the Proof of Stake protocol, one thing developers have been engaged on for a number of months.
Asset manager GoldenTree now holds Bitcoin on its balance sheet
The adoption of cryptocurrencies continues to rise regardless of the present state of the market. Earlier this week, New York-based asset supervisor GoldenTree turned the most recent conventional funding agency so as to add Bitcoin to its balance sheet. The exact amount of Bitcoin it holds is still unknown, but it surely has added BTC to its balance sheet in a bid to diversify its portfolio. The transfer comes at a time when conventional financial institutions are opening as much as Bitcoin and different cryptocurrencies. A few of them now consider Bitcoin to be a hedge in opposition to inflation and an excellent retailer of worth, a notion they didn’t maintain just a few years ago.
Wealthfront lists Grayscale’s Bitcoin and Ether funds
The appetite for cryptocurrencies by institutional investors retains growing, and investment companies are offering them with an avenue to gain exposure to the nascent market. Earlier this week, Robo-advisor Wealthfront knowledgeable its customers that they will now acquire entry to cryptocurrencies through the Grayscale Bitcoin and Ethereum funds. The Grayscale Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) were added to the Wealthfront platform, permitting buyers to realize publicity to the 2 main cryptocurrencies by way of these funds. This portfolio comes with automation options, including tax-sensitive rebalancing, intelligent dividend reinvestment and tax-loss harvesting.
SEC wants to manage DeFi, stablecoins and crypto exchanges
The US Securities and Exchange Commission (SEC) desires to implement broad regulation of the cryptocurrency market in the USA. The SEC chair Gary Gensler said the crypto area is at present a Wild West, and the regulator must roll out insurance policies that may defend buyers. In response to the SEC chair, there’s a want to manage the rising sector of decentralized finance (DeFi), stablecoins and the actions of cryptocurrency exchanges. He added that he believes most cash issued by way of ICOs are securities and, as such, fall underneath the jurisdiction of the SEC. Gensler wants the US Congress to grant the agency extra powers and assets to broaden its current oversight of the emerging cryptocurrency market.
Bitwise launches funds for DeFi protocols Uniswap and Aave
The decentralized finance area has grabbed the eye of institutional buyers because of the large progress of the sector in recent months. This led Bitwise to launch funds monitoring the efficiency of high DeFi protocols Uniswap and Aave. Bitwise, a leading digital asset manager, introduced earlier this week that the Bitwise Uniswap (UNI) Fund and the Bitwise Aave (AAVE) Fund be part of the Bitwise DeFi Crypto Index Fund. The funds are designed to make it simpler for buyers to access the DeFi space. The funds will invest immediately in UNI and AAVE, the utility tokens of the Uniswap and Aave protocols respectively.