Author: NBTC

The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service providers (VASPs) will be required to register and meet strict standards, while commercial banks are prohibited from dealing directly with virtual asset businesses. The public has a chance to provide feedback on the proposed regulations before they are finalized. Surge in Digital Asset Use Underscores Need for Regulation The Bank of Ghana (BOG) recently unveiled draft regulations to create a digital asset regulatory framework. Released Aug.…

Bitpanda Technology Solutions and CoinMENA have partnered to expand crypto trading services in the Middle East. Licensed as a crypto asset platform under the Central Bank of Bahrain and Dubai Virtual Asset Regulatory Authority (VARA), CoinMENA aims to utilize Bitpanda’s digital infrastructure to meet the growing demands of its users. Expanding Crypto Asset Offerings According to the official announcement, this partnership promises to enhance trading efficiency and broaden the range of crypto assets available to users. CoinMENA’s partnership with Bitpanda Technology Solutions is poised to deliver several key benefits to its users. This integration ensures that users receive optimal prices…

The FX market shows a renewed bias for anti-risk Japanese yen. A similar yen outperformance early this month, triggered carry unwind and rocked risk assets, including cryptocurrencies. Some observers fear another round of carry unwind in the near future. The Japanese yen (JPY) is rallying against the U.S. dollar (USD), outperforming other fiat currencies in a redux of early August market action that was characterized by sharp losses in global stock markets and bitcoin (BTC). Since late Thursday, the yen has strengthened 2.4% to 145 per dollar, aborting a weakening bounce from the Aug. 5 low of 141.68 in a…

Ethereum, similar to most altcoins, is under significant selling pressure, struggling to shake off the weakness of early August. Even though there were flashes of strength after the climactic sell-off on August 5, prices are still below $2,800. The only positive for now, at least looking at the daily chart, is the impressive bulls’ resilience. Despite the wave of lower lows, buyers have soaked in the deluge of selling pressure, holding prices above the $2,500 mark. The bearish formation, nonetheless, remains, but one analyst thinks the rejection of lower prices below $2,500 is critical. Ethereum Bulls Must Keep Prices Above…

Double Jump.Tokyo, a Japan-based Web3 gaming company, has secured over $10 million in its Series D first closing led by SBI Investment. The round, which had the participation of Sony Group Corporation and others, will allow the company to continue developing blockchain games and offering related services, strengthening its talent base at the same time. SBI Investment Leads Double Jump.Tokyo $10 Million Series D Funding Round Double Jump.Tokyo, A Japanese company focused on developing Web3 gaming projects and providing associated services, has raised over $10 million in the first closing of its Series D funding round. The round, led by…

Lido Analytics reported a 1.36% increase in Total Value Locked (TVL), reaching $33.48 billion. This growth was primarily driven by a net addition of 95,616 ETH staked through Lido, highlighting continued confidence in the platform’s staking services. The 7-day Annual Percentage Rate (APR) for stETH experienced a minor decrease, falling by 0.04% to 2.96%. Despite this slight dip, Lido continues to attract substantial new deposits, underscoring the platform’s appeal to stakers seeking reliable returns. 📊 Lido Analytics: June 24 – July 1, 2024TLDR:– TVL up 1.36% to $33.48b.– 95,616 net new ETH staked through Lido.– 7d stETH APR at 2.96%.–…

Johnny Ng, a Hong Kong lawmaker, has called on the Hong Kong government to look into regulating decentralized autonomous organizations (DAOs) after the city’s High Court recently ordered defendants to disclose financial records related to the DAO project, according to local media reports. Ng, a member of Hong Kong’s Legislative Council, told local media on Monday that the government should introduce a legal framework for the DAOs in a bid to turn Hong Kong into a global Web3 hub. The lawmaker’s comments came after the court last week gave reasons for an order requiring six defendants to disclose financial records…

Indian crypto exchange WazirX has re-launched INR withdrawals for “eligible users” and decreased withdrawal fees by 60%. Cryptocurrency exchange WazirX, which recently suffered a multi-million dollar hacker attack, has begun the first phase of INR withdrawals. In an X announcement, the Mumbai-headquartered trading platform said that starting from Aug. 26, all “eligible users” can withdraw “up to half of the available 66% limit of their INR balances,” implying that users can withdraw only 33% of their INR balances. 📢 INR Withdrawals Phase 1 Now Live All eligible users can withdraw up to half of the available 66% limit of their…

Another solo miner has beaten the odds and processed a block on the biggest crypto network—pocketing 3.275 Bitcoin, or just shy of $200,000 as a reward. The lucky miner processed block number 858,978 at 12:21pm Eastern Time, according to blockchain data. A total of 2,391 transactions were contained in the block, and the miner received $199,094 worth of Bitcoin for the work. Bitcoin mining is the business of processing blocks on the Bitcoin network. Blocks are full of data and are part of the cryptocurrency’s blockchain—a super-secure ledger containing transparent information about transactions. When blocks are processed, miners are rewarded…

Despite decisively losing its multi-month stable levels near $67,000 and even dropping below $50,000 for short periods of time, Bitcoin (BTC) has shown significant resilience in retaining the range between approximately $58,000 and about $60,000. Indeed, though BTC is 11.95% in the red in the 30-day chart due to substantial volatility and selling pressure in early August, most recent trading has shown a trend for stabilization. Additionally, with Bitcoin price today, at press time, being at $58,546, the coin remains a 38.53% up year-to-date (YTD), thus leaving substantial room for optimism about its performance in the longer time frames. With…