Monthly Archives: September 2020

Spikes in gas prices slowing growth of new NFT marketplaces

New NFT marketplaces may even leave Ethereum altogether to deal with high gas fees. High gas prices have become a problem for non-fungible token (NFT) marketplaces, especially as they look to mint at scale, the founder of a start-up said.  Sean Papanikolas, founder of NFT marketplace Cargo, told Cointelegraph in an interview that the NFT sector is at an inflection point. But scalability weighs on new players in the sector now that gas prices have spiked. He said: “Now, in 2020, platforms are starting to see the […]

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Crypto hedge funds and mining regulations: Bad crypto news of the week

Check out this week’s Bad Crypto podcast. It’s been a difficult week for Bitcoin this week. The price has fallen about 5 percent over the last seven days to drop beneath $10,400. It could bounce but if it continues downwards, it might drop below $10,000 and get dangerously close to the CME gap. One sign that the price might fall further has been a decline in the number of Bitcoin addresses holding a single Bitcoin. They’ve reached a four-month low. But Tyler Winklevoss still thinks that Bitcoin […]

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Russia Proposes Harsh Penalties for Unreported Cryptocurrency Holdings

Russia’s Ministry of Finance has drafted a bill with harsh penalties for anyone who does not report their cryptocurrency holdings above a certain level. Penalties include jail terms and fines. New Russian Crypto Bill The Russian Ministry of Finance has sent out a new draft bill addressing the circulation of cryptocurrency in Russia to interested government departments, local news outlet Kommersant reported this week. The bill contains amendments to the Russian Criminal Code, the Criminal Procedure Code, the Administrative Code, the Tax Code, and the law on […]

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US SEC issues no-action letter on compressed digital asset settlement process

In issuing a no-action letter, the SEC took a more nuanced position on virtual assets. The U.S. Securities and Exchange Commission (SEC) took a major step toward streamlining digital asset securities settlement by compressing the previous four-step process into three in a bid to reduce operational risk for broker-dealers. The SEC issued a no-action letter on Sept. 25, stating it will not penalize any broker-dealer operating an alternative trading system (ATS) that trades digital asset securities — if they adhere to the new guidelines. According to the […]

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A minster’s look at regulation and innovation: A necessity to strike a balance

Without constant nurturing through communication and collaborative efforts, the pursuits of legislators and businesses would be fruitless. Repeatedly, proponents of disruptive technologies have proven that regulation and innovation have an immense potential to actualize a mutually beneficial existence. The often delicate relationship between innovators and regulators — which may be mired by antagonism — is fundamental to the functioning of the global economy, especially at times as challenging as we are facing now.  The fuel that keeps the fire of the important relationship between regulators and businesses […]

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US Federal Reserve Actively Working on Digital Dollar

The Federal Reserve Board of Governors and several Federal Reserve Banks are actively working on the digital dollar. Legislation has proposed that each American could have an account at the Fed for transacting in the central bank digital currency. Several Digital Dollar Initiatives The president of the Federal Reserve Bank of Cleveland, Loretta J. Mester, outlined the Fed’s work on the country’s central bank digital currency (CBDC) during a speech at the 20th Anniversary Chicago Payments Symposium on Wednesday. Noting that the experience with emergency payments led […]

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CEX.IO to Provide One-Click DeFi Access, Lists New Tokens, and Offers Instant 0% Fee Visa Deposits

LONDON, the United Kingdom, September 26 – CEX.IO, one of the leading international cryptocurrency exchanges, announces its plans for entering the decentralized finance (DeFi) market. To set the stage, CEX.IO lists major DeFi tokens on its exchange platform and offers instant, 0% fee Visa deposits to its customers for a limited time period. The UK-based company’s ultimate goal is to provide CEX.IO customers one-click access to the most popular DeFi solutions and activities, such as borrowing, lending, and yield farming, in the near future. CEX.IO is listing […]

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The UN’s ‘decade of delivery’ needs blockchain to succeed

Emerging technologies are essential to fasten SDGs, but this shouldn’t come at the expense of prudence and careful evaluation. When the Sustainable Development Goals, or SDGs, were conceived back in 2012, blockchain technology was in its early days. Few could have foreseen the trajectory and the potential of blockchain for advancing these ambitious targets. But today, we see opportunities for blockchain technology to recast conventional approaches to sustainable development — and accelerate progress if deployed responsibly. Macro trends of 2020 There are a number of macro trends […]

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Crypto lending rates are low and DeFi is not competition says Nexo co-founder

It’s all about location and perception. Much has been said about attractive interest rates offered by popular crypto lending platforms like BlockFi, Celsius Network and Nexo. However, there are two sides to every coin. Paying out high interest rates requires charging even higher rates to the borrowers.  Yet, Nexo co-founder Antoni Trenchev disagrees that crypto lending rates are high. In an interview with Cointelegraph, he said that this reflects the “Western” view, where the prevailing interest rates tend to be low. But it is not the case […]

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What price must Bitcoin reclaim for a renewed bull market in October?

Bitcoin remaining relatively stable despite a cryptocurrency exchange getting hacked over the weekend is a positive sign for the market’s maturity. Volatility was expected throughout the week regarding the expiration of a significant amount of futures. However, this didn’t really happen while the macro-economic environment also remains uncertain. A hack of a major cryptocurrency exchange on Sep. 26 didn’t influence the price at all, which is a positive signal for the markets and a positive signal for the market’s maturity. However, is this boring price action going […]

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