Author: NBTC

Russia should criminalize foreign exchange operations, including cryptocurrency transactions, according to a consultative body that monitors the legislative process in the country. The idea, which is likely to be met with serious opposition from free market proponents, is evoking associations with penalties that threatened citizens of the USSR who dared to touch the dollar or any other convertible currency. Civic chamber suggests criminal prosecution for crypto payments Government oversight will improve, in terms of cracking down on financial offenses, if illegal foreign exchange transactions, including those with cryptocurrencies, are criminalized. That’s according to Evgeny Masharov, a member of the Commission…

Hyperliquid co-founder and CEO Jeff Yan claimed that the way centralized crypto exchanges, and Binance specifically, report data is likely to underrepresent liquidations. In a Monday X post, Yan pointed to a documentation page on the world’s top crypto exchange, Binance, explaining that the platform will only include the latest liquidation happening in each second interval in the order snapshot stream. “Because liquidations happen in bursts, this could easily be 100x under-reporting under some conditions,“ Yan wrote. Yan’s statement echoed a Saturday X post from crypto data platform CoinGlass. The platform said that “the actual [liquidated] amount was likely much…

Ether prices fell sharply on Friday, October 10 as tariff concerns fueled losses in risk assets. The world’s second-largest digital currency by total market value plunged to almost $3,500, according to Coinbase data from TradingView. After rising to nearly $4,400 earlier in the day, this represented a roughly 20% decline, additional Coinbase figures from TradingView reveal. Interestingly enough, ether bounced back after reaching its intraday low, approaching $4,000 and trading close to $3,800 at the time of this writing. Equities also suffered declines, with the S&P 500 falling 2.7% and the Dow Jones Industrial Average dropping 1.9% for the day,…

MetaMask’s mUSD, the European Union’s digital euro initiative, and Hong Kong’s offshore yuan token AxCNH set up a three-way contest for on-chain payments. The prize is not trading volume or speculative flows, it is the share of real-world settlement that could reach $2 to $4 trillion annually if 1 to 2 percent of global cross-border payments move to tokenized rails. According to the IMF and industry research, such as McKinsey, the addressable base for cross-border activity ranges in the hundreds of trillions of dollars, depending on scope, making even low single-digit penetration material on a one-year to two-year horizon. US…

Nigeria has established a working group to explore the possible adoption of stablecoins as part of ongoing efforts to support innovation in the financial sector. According to Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), the development comes amidst plans to balance the risks of emerging technologies. Speaking in a joint press briefing at the conclusion of the annual meetings of the World Bank and the International Monetary Fund (IMF) in Washington DC, Cardoso mentioned that the CBN, Ministry of Finance, and other relevant financial bodies have set up a working committee to take a deep dive into…

Crypto exchange WazirX has finally secured approval from the Singapore High Court for its restructuring plan, paving the way for user repayments following the $234 million hacking incident last year. The court’s decision comes weeks after creditors backed a revised proposal. The approval allows WazirX to start the next phase of its recovery process, including token-based fund distributions and reviving the exchange’s operations. “Thank you to everyone who supported this difficult phase of WazirX. The Singapore High Court has approved the scheme,” WazirX founder Nischal Shetty said in a post on X. “It’s your support and love that has made…

New York lawmakers launched a legislative strike against crypto mining Friday, introducing companion legislation to a Senate bill that would force proof-of-work miners to pay high taxes based on their electricity consumption. On Friday, Assembly Bill A9138 was introduced in the New  York State Assembly by Democratic Assembly member Anna Kelles and referred to the Ways & Means Committee. The bill would impose an excise tax on electricity used by businesses engaged in digital-asset mining under proof-of-work authentication methods. This measure is a companion to the S8518 Bill, introduced earlier this month by State Senator Liz Krueger, Chair of the Senate…

The Ethereum Foundation’s latest privacy-focused update has sparked considerable debate within the Cardano (ADA) community. The Cardano community has likened the Ethereum Foundation’s new privacy-focused initiatives to the Midnight network associated with the Cardano ecosystem. The Ethereum Foundation previously announced the expansion of its privacy efforts. The statement announced the creation of a new “privacy cluster,” comprised of 47 researchers, engineers, and cryptography experts. This cluster encompasses various subprojects, including Secret Read and Write, Secret Proof, Hidden Identities, Privacy Experience, the Enterprise Privacy Task Force (IPTF), and Kohaku. The foundation’s statement aims to enable users to conduct private payments, voting,…

CleanSpark Inc. shares ticked higher Monday, extending last week’s bullish momentum after the company announced an expanded Bitcoin-backed credit facility with Coinbase Prime. The Las Vegas–based mining firm closed regular trading at $13.74 but jumped more than 8% in after-hours, reaching $14.86 following news of the deal. The stock is currently up 6% after hours, trading near $14.60. CleanSpark tapped an extra $100 million in credit, backed by its Bitcoin reserves. Instead of selling coins on the market, the company is leaning on its Bitcoin holdings as collateral. This is basically a strategy that turns mined Bitcoin into a working…

Crypto’s latest media dust-up is missing the everyday reality of on-chain use, Ripple Chief Legal Officer Stuart Alderoty argued Thursday, saying recent mainstream pieces have celebrated a “crypto is a tool of crime and corruption” narrative while ignoring transparent ledgers and broad adoption. In his Oct. 17 post on X, Alderoty called that framing “a convenient narrative, but a lazy and inaccurate one,” and tried to pivot the conversation to who actually uses crypto and why. He wrote that digital assets are used by tens of millions of Americans for practical tasks — such as lending money, proving ownership and…