Author: NBTC
New stablecoin regulations in Switzerland, requiring Know Your Customer (KYC) verification for all holders, have drawn sharp criticism from within the crypto community. Ripple CTO David Schwartz rebuked the law as a “know your customers’ customers” regulation, emphasizing the stringent requirements on financial intermediaries involved in stablecoin transactions. Sure, just not “know your customers’ customers” regulations. — David “JoelKatz” Schwartz (@JoelKatz) August 2, 2024 The Swiss Financial Market Supervisory Authority (FINMA) recently published the new law, mandating that the identity of all stablecoin holders be “adequately verified by the issuing institution.” FINMA views stablecoin issuers as financial intermediaries subject to…
Bitcoin transaction fees have stayed below $7 since Jun. 9, 2024, and have fallen under $3 in the last five days. Even with this decrease in fees, over 200,000 unconfirmed transactions have persisted in the backlog, as the queue has not come close to clearing since October 2023. Bitcoin’s Fee Market Struggles to Match Network’s Rising Demand This week, transaction fees on the Bitcoin network have remained low, currently averaging 22.3 satoshis per virtual byte (sats/vB), or $2.67 per transaction. According to mempool.space on June 27, a high-priority transfer costs approximately 10 sats/vB, or about $0.86 per transaction. Fees have…
The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused of defrauding investors through a Ponzi scheme disguised as a cryptocurrency business. Orissa High Court Highlights Legality of Cryptocurrency The Orissa High Court in India has affirmed that cryptocurrency is not illegal in India. Justice Aditya Kumar Mohapatra, presiding over a single judge bench, granted bail to Sandeep Chowdhury, CEO of Yes World, on July 30, citing the absence of…
The number of Bitcoin holders owning one or more whole Bitcoins has surpassed one million, according to analytics platform IntoTheBlock, demonstrating the growing mainstream acceptance of Bitcoin. This chart shows the number of addresses holding more than 1 Bitcoin.🪙There are currently over 1 million wholecoiners📈There is a clear long-term trend, as more and more people aim to achieve wholecoiner status. pic.twitter.com/QrZgbRGgc7 — IntoTheBlock (@intotheblock) June 27, 2024 A data chart attached to IntoTheBlock’s post illustrated that exactly 1,010,777 addresses hold more than one Bitcoin as of the time of the post. The chart also reflected the growing trend of whole…
VeChain, Magma, and T-Blocks are set to revolutionize Albania’s real estate sector with blockchain technology, enhancing transparency and trust in construction. This partnership aims to digitize real estate construction lifecycles and attract global investors, driving significant growth and innovation in Albania’s market. Besides partnering with high-tech companies reinforcing sustainability, as CNF’s last update covered, VeChain also reaches out to the real estate sector. According to real estate market data shared by Statista, Albania is expected to reach a market value of US$75.21 billion in 2024, with an annual growth rate of 6.46% from 2024 to 2028, resulting in a market…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Cryptocurrencies have seen an exponential rise in adoption over recent years. As of late 2023, the number of global cryptocurrency owners reached approximately 580 million, marking a 34% increase from 432 million at the beginning of the year. You might also like: Regulators should embrace decentralized finance | Opinion As more individuals and institutions adopt cryptocurrencies, the ecosystem has inevitably attracted a mix of genuine participants and fraudsters. Recent statistics reveal growing concerns regarding cryptocurrency fraud. According…
Bitcoin (BTC) price has lost critical support at $64,000, sending the largest cryptocurrency to a low above $58,555. Cryptocurrency price analysis brought by Coinidol.com. Bitcoin price long term forecast: bearish The bulls quickly bought the dip and Bitcoin returned above the psychological price threshold of $60,000. The upward correction was halted at $62,558. As a result, Bitcoin has been trading in a limited range for the past 48 hours. In other words, the BTC price is moving between $58,000 and $63,000. Bitcoin is currently worth $61,610. On the positive side, Bitcoin is expected to gain as buyers flock to the…
BinaryX, a leading Web3 gaming platform, announced a community vote aimed at significantly reducing the total supply of BNX tokens. BinaryX Announces Historic Community Vote to Implement Deflationary Model by Burning 74% of BNX Tokens The proposal involves burning 74% of existing BNX tokens, which will reduce the maximum supply by 1.62 billion tokens, lowering the new cap to 580 million. This strategic move marks a shift towards a deflationary model, which is expected to increase the value of the remaining tokens and support the long-term sustainability and growth of the platform. The official voting period for this historic decision…
Newly released documents from inside the US government confirm the existence of high-level legal discussions on whether the Treasury Department can and should create a trillion-dollar platinum coin. The idea for such a coin has been floated in various circles for years as a way to give the US additional funds without having to borrow more money, hypothetically avoiding potential defaults and perpetual debt ceiling drama. Now, a years-long series of requests through the Freedom of Information Act (FOIA) has finally yielded concrete documents on the government’s interest in actually minting the “large denomination” coin, reports Bloomberg’s Jason Leopold. Four…
Cryptocurrency analyst and trader Kevin Svenson is highlighting one Bitcoin (BTC) metric that’s flashing a bullish signal for altcoins. Svenson tells his 78,500 YouTube subscribers that Bitcoin dominance, the ratio of the BTC’s market capitalization relative to the market capitalization of the rest of the crypto assets, suggests that “we might be near altcoin season.” “Bitcoin dominance beginning to fall below its trend line, which could be a good sign for the altcoins… …the fact that the Total3, the [total] altcoin market cap, is actually finding support against Bitcoin’s drop today, so this is a sign that sellers in the…