The latest study by the World Bank shows that it costs 4.98% on average to remit funds to South Asia which makes it the least expensive region while sub-Sahara Africa is the most expensive with an average cost of 8.47%. The quarterly study also finds that it is costlier to remit funds when using service […]
The US Securities and Exchange Commission (SEC) will enhance the regulatory framework for derivatives use by registered investment companies after passing a vote to either change or amend existing rules. As part of the new framework–which covers mutual funds, exchange-traded funds (ETFs), and closed-end funds–operators must undertake to implement a written derivatives risk management program.
Crypto startup Avanti Financial Group has been granted a license to offer banking services by the Wyoming State Banking Board. The license, or bank charter, means Avanti can now operate as a conventional bank – but one with a twist, capable of holding both crypto and dollars. It plans to launch in 2021. According to
Altcoins took a serious hit as Bitcoin dropped below $13K today, meanwhile, BTC’s macrostructure remains bullish. The equity markets across Europe closed deeply in the red and the U.S. markets are also witnessing intense selling pressure as investors fear a rise in COVID-19 cases could stall the fragile economic recovery. This increasingly negative sentiment has
The pandemic is not stopping Peru’s lawmakers from testing ways of regulating the crypto industry. A Peruvian regulator authority said on October 26 that studies currently performed on local crypto exchanges will keep on going despite the COVID-19 pandemic, as the country is looking to find ways to regulate the national crypto industry. According to
Only two decentralized exchanges on the list receive high cybersecurity scores. 14 out of 25 decentralized exchanges, or DEXs, score poorly in terms of cybersecurity, according to a recent report. Source: CER. CER’s criteria included several factors such as whether a DEX underwent security audit, the availability of bug bounties and if it had proper
But don’t call it a CBDC, says central bank reps. Amid a global race toward central bank digital currencies, or CBDCs, Cambodia officially launched a blockchain-based platform for digital money transactions called Bakong. “Bakong, a payment and money transfer service through banks or microfinance institutions, was established under the initiative of the National Bank of
Though the hearing did not focus on solutions, open source looks like a real way of addressing the committee’s concerns about transparency and accountability. In a hearing before the Senate Commerce Committee on Friday, the CEOs of Facebook, Twitter and Google’s parent company, Alphabet, faced a veritable firing squad in what has become bipartisan hatred based
Tech evangelists Alex and Don Tapscott believe blockchain will “rewrite the economic power grid and the old social order.” According to tech evangelists Don and Alex Tapscott, blockchain technology will prove itself the most disruptive technology of the next decade. “We now have an Internet of value that can give us another opportunity to rewrite
The CEO of Minds thinks that others will follow suit. Alternative social media platform Minds is now letting users permanently save their content on the Arweave platform, which ensures that nobody can ever delete it once published. Minds users can choose to publish their content on the “permaweb” with no payment or additional setup required.
The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization and money laundering. Fuentes, who has been in hiding since September, was arrested at one of his properties in the south of Tenerife. The Arbistar Pyramid Scheme Fuentes’ arrest stems from
Digital Currency Group (DCG) recently published the firm’s “State of Crypto 2020” report which polls more than 150 portfolio crypto companies. According to the study, 75% of the respondents believe the value of their business has grown this year, while 50% of the startups have seen outperforming start-of-year projections. The state of the cryptocurrency industry
Grayscale Investments said Thursday that it added $300 million in net assets under management (AUM) in just the last 24 hours. The firm now has a record $7.3 billion in total AUM, according to a tweet by Barry Silbert, chief executive officer of the Digital Currency Group, Grayscale’s parent company. The biggest daily increases were
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Public officials in Russia will now be required to declare all the crypto assets they hold as income. The measures are with effect from Jan. 1, 2021, local media reported. Russia’s prosecutor general Igor Krasnov declared: “Starting next year, civil servants will be required to declare [virtual] currencies on an equal basis with other assets.”
Mainstream investors apparently liked the company’s turn towards crypto. PayPal (PYPL) reached $215.87 on Oct. 21, a few dollars past its previous all-time high of $212.38, set on Sept. 2, 2020, according to data from TradingView. This price action came shortly after the payments company announced that it would soon be including crypto assets on its platform. PayPal plans to
A project that started out in the Ethereum ecosystem may soon be a worthy adversary for the network. CasperLabs has raised $14 million in a private validator token sale, with over a dozen investors participating in a round led by Digital Strategies. The company expects to launch its public mainnet in the first quarter of 2021,
The outlook is grim for the Canadian messaging app as it loses $5 million over its ICO for Kin tokens. On Wednesday, the U.S. Securities and Exchange Commission announced the end of its lawsuit against Kik Interactive. The Canadian messenger app fell afoul of the U.S. regulator for failing to treat its sale of KIN
Bitcoin hit a new 2020 high and altcoins rallied as PayPal announced that it will support crypto payments. The crypto markets are cheering PayPal’s decision to allow its customers to use cryptocurrencies to shop from its vast merchant network. PayPal also revealed that U.S. account holders will be able to buy, sell, and hold cryptocurrencies
Around 1.8 million Bitcoin has been dormant for over a decade. A significant amount of Bitcoin’s (BTC) total supply has not moved for more than 10 years, according to data from cryptocurrency analytics data provider Glassnode. During this decade-long interim, 1.8 million Bitcoin (of the current 18.5 million supply) has been locked in dormant Bitcoin addresses.
