Normally, the numerous reports published by the Financial Stability Board (FSB) don’t contain particularly bold suggestions. The international monitoring body, comprised of financial authority representatives from the 20 largest economies of the world (G-20), the FSB limits its scope to risk analysis, not bothering itself with a global vision for economic development. However, the latest
A partnership between crypto e-commerce platform Bitrefill and eSIM Go enables crypto users to buy eSIMs in 140 countries worldwide. Crypto advocates can now swap crypto for data at the checkout, using Bitcoin (BTC), the Bitcoin Lightning Network, Ether(ETH) and stablecoins like Tether (USDT). The move makes it easier to live on crypto and travel
Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank — the Monetary Authority of Singapore (MAS). Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) from MAS on Aug. 1 allowing it to provide what the regulator calls digital payment token services to institutional and accredited investors. The exchange’s
BlackRock, a multinational investment company, shocked many in the cryptocurrency industry in June when it filed an application for an exchange-traded fund (ETF), the iShares Bitcoin Trust. It’s seeking to overcome 10-year-long opposition from United States regulators to cryptocurrency ETFs. A spot Bitcoin ETF would be tradable on a traditional stock exchange and track with
Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community. While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for decentralization and personal control of assets, warns the community. The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued
Ripple Labs, a leading name in the blockchain industry, has faced significant setbacks over the past few years, mainly due to a drawn-out lawsuit with the US Securities and Exchange Commission (SEC). As discussions and debates surrounding the lawsuit’s impacts on the company’s growth continue, Hugo Philon, CEO of Flare Labs, shared his insights on
Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese man’s $10M loss as court says Bitcoin lending not protected by law A man in China’s Jiangsu province, identified as Mr. Xu, appears to be out of luck after a court ruled that his 341 Bitcoin loan ($9.9 million) to
Bitcoin (BTC) has been trading near the $29,000 level for the past few days. This suggests a lack of strong demand at higher levels but the only solace for the bulls is that they have managed to sustain the price above the immediate support. The uncertainty about the next directional move may have tempted short-term
Weekly cryptocurrency asset flows for the week ending Aug. 4 reconciled at $107 million in outflows, continuing a three-week negative trend totaling $134.8 million. Once again, the lion’s share of movement was attributed to Bitcoin (BTC). With $111 million in outflows, Bitcoin funds negated the majority of inflows for the week. According to CoinShares’ Digital
MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol. At the time of writing, VPN users that attempt to access the Spark Protocol website will be met with an error: “Accessing this website
The lower house of India’s parliament voted in approval of a bill that will ease data compliance regulations for Big Tech companies, according to a report from Bloomberg. On Aug. 7, the legislation that was approved by the house will ease storage, processing and transfer standards for major global tech companies like Google, Meta and
Coinbase CEO Brian Armstrong’s comments to a question about the USD Coin (USDC) stablecoin during the company’s second-quarter earning calls raised some eyebrows. While commenting on the market cap of USDC, Armstrong quipped that Binance moved some of its funds from USDC into another stablecoin, but despite that, the market cap of USDC has held
Decentralized asset management platform Valio has launched publicly, according to an announcement from the platform’s team. The new protocol allows users to have their funds managed by professional traders but without having to trust these traders as custodians. The app’s launch is initially taking place on the Abitrum and Optimism networks. Valio previously launched in
CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission (SEC). The ‘Top Alleged Securities Coins’ page sorts the selection of crypto assets by market capitalization, placing Binance Coin (BNB) at the top of the list — followed by Cardano (ADA), Solana (SOL)
Blockstream CEO Adam Back, one of the crypto’s early pioneers, is pretty confident Bitcoin will hit an all-time high of over $100,000 before Bitcoin’s halving in 2024 — and is willing to drop a million wagering on it. In an Aug. 7 conversation on X (formerly known as Twitter), Back agreed to a bet with
Bad news for Ripple and XRP? The U.S crypto regulation landscape, already mired in uncertainty, has been thrown into further turmoil yesterday following diverging judicial opinions about the classification of cryptocurrencies as securities. However, Ripple Labs’ Chief Legal Officer (CLO) Stuart Alderoty has held firm, insisting that a recent controversial ruling against Terraform Labs has
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