Author: NBTC

El Salvador’s pioneering move to adopt Bitcoin as a legal tender has sparked global interest and debate, especially regarding its impact on financial stability. A recent report by the Financial Action Task Force of Latin America (GAFILAT), an affiliate of the Financial Action Task Force (FATF), offers new insights into this issue. The study concludes that Bitcoin’s role in the Salvadoran financial system poses no significant threat, despite initial concerns and the country’s ambitious experiment with cryptocurrency. GAFILAT’s analysis evaluated El Salvador’s efforts to combat money laundering and terrorism financing (AML/CFT) in the context of Bitcoin’s legal status. The report…

Data provided by the Phoenix Group revealed that DMarket and Guild of Guardians set monthly sales records and demonstrated consistent demand for digital items despite high fluctuations in the market. The market of NFTs remains active, and October 2024 becomes a crucial period for major collections. TOP #NFT COLLECTIONS BY MONTHLY SALES VOLUME #DMarket #GuildofGuardians #BitcoinPuppets #BoredApeYachtClub #CryptoPunks #DogeZuki #Frogana #Sorare #NodeMonkes #OrdinalMaxiBiz #MiladyMaker #RetardioCousins pic.twitter.com/AvdfREC61M — PHOENIX – Crypto News & Analytics (@pnxgrp) October 31, 2024 DMarket Dominates the Rankings DMarket claims the lead with $37.29M in sales and 440% monthly growth. DMarket has revealed the potential of its…

BlackRock, the world’s largest asset manager, recorded a significant increase in its Bitcoin ETF holdings, reaching 403,725 BTC, valued at approximately $27.7 billion, as reported by Lookonchain in a post on X. Oct 28 Update: 10 #Bitcoin ETFsNetFlow: +5,246 $BTC(+$360.28M)🟢#Blackrock(iShares) inflows 4,369 $BTC($300M) and currently holds 403,725 $BTC($27.73B). 9 #Ethereum ETFsNetFlow: -387 $ETH(-$973K)🔴https://t.co/dFLYQIWNenpic.twitter.com/SXfSqF3eew — Lookonchain (@lookonchain) October 28, 2024 BlackRock’s iBIT ETF spearheaded the surge in Bitcoin investments, adding 4,369 BTC worth approximately $300 million and 17,110 BTC valued at around $1.18 billion over the past week. At the time of writing, the total Bitcoin holdings across major ETFs amounted…

Sui has earned a reputation for its technical innovations, but is it the next “Solana Killer”? Industry experts assess both platforms’ relative strengths. Solana’s existing community provides its advantages but shouldn’t rest on its laurels. Sui the “Solana Killer” Sui and Solana are both Layer-1 blockchains making a buzz in the crypto space, although with very different profiles. Solana is among the largest crypto assets today, with rumors circulating that it might be a contender for the third exchange-traded fund (ETF). Sui, on the other hand, is a much younger blockchain, aiming to outcompete Solana on its most attractive features.…

Shocking: the well-known accountant and cryptocurrency expert, Stefano Capaccioli, has discovered a loophole in the law that regulates crypto taxes in Italy. This is an unintentional technical flaw due to the methodology with which laws are modified in Italy. The issue, therefore, is purely technical, but Capaccioli summarized it in a recent video interview. The flaw in the new law on crypto taxation in Italy The reduction of crypto taxes in Italy after the discovery of the flaw The modifiche The height The flaw in the new law on crypto taxation in Italy In Italy, when a law is modified,…

An interesting interaction took place in the crypto space today, when the official X account of the popular meme-inspired cryptocurrency Shiba Inu (SHIB) asked the world’s largest crypto exchange, Binance, a juicy question. But first things first. It all started with a Binance post that included an image with the repeated word “wen,” which means “when” in crypto slang, accompanied by the caption, “The only question anyone cares about right now.” In its address, the account of the largest exchange in the world probably meant when Bitcoin will update its high price, given that yesterday the main cryptocurrency came close…

Bitcoin’s price is back above $58K, registering an increase of around 3% in the past 4 hours alone. As CryptoPotato reported earlier today, the market had shed some $100 billion off its total market capitalization as the BTC price dropped to a monthly low of under $56,000. Most of the altcoins followed suit, trading deep into red territory. ETH plunged to $2,400, while BNB bears were able to push the price toward $510. Fortunately, the bulls woke up and are now erasing much of the gains. At the time of this writing, BTC trades at $58,400 and most of the…

The Bank of England is researching a digital pound to counter the rise of fintech companies in transactions. Governor Bailey is concerned that traditional banks are falling behind in digital innovation and payments. Privacy concerns may push back the launch of the digital pound until at least 2025. The Bank of England is moving forward with research on a possible virtual pound as tech companies gain ground in financial services. Governor Andrew Bailey expressed concerns over traditional banks falling behind in digital innovation, which could leave them vulnerable to tech competitors. Do you see the setup? They’re paving the way…

Oct 31 (Reuters) – The cryptocurrency industry has spent years clashing with Democratic President Joe Biden’s administration over regulatory issues, but executives expect an easier ride from Washington, regardless of who wins the White House next week. Crypto asset managers including Bitwise and Canary Capital are planning new products ahead of what many executives expect to be a more crypto-friendly administration, while others including Ripple are planning a fresh push for crypto legislation in the new Congress, said executives and lawyers. “Regardless who wins, there will be a new approach to how we move forward with crypto,” said Rebecca Rettig,…

Coinbase (COIN) third-quarter earnings and revenue missed Wall Street analysts’ estimates on Wednesday, sending shares slumping in after hours trading. The crypto exchange said its third-quarter total revenue was $1.2 billion versus the average estimate of $1.26 billion, according to FactSet data. Meanwhile, earnings per share of $0.28 missed analyst expectations of $0.45. Coinbase’s third-quarter adjusted Ebitda of $449 million also missed estimate of $469.2 million. The crypto exchange primarily suffered from weaker market conditions, the firm said in a shareholder letter, noting that it saw growth in some areas. “Really solid results across the board, I think quarter to…