Kazakhstan has recently attracted the attention of the cryptocurrency world in recent months as one of the biggest destinations for block reward miners that are being forced out of China amid regulatory crackdown. Now the Kazakhstan government has allowed banks to offer services to crypto companies, including crypto exchanges. In a pilot project, Kazakhstan is seeking to make crypto investment mainstream to attract investment from the global community as well as enhance protection for its local investors.
Bitcoin’s (BTC) price soared above $42K earlier today for the first time in a month as the top cryptocurrency looks to move out of a two-month-long bearish phase. The price rise saw BTC record a new monthly high of $42,235 before retracing below $42K. The next resistance lies at $45K and if BTC manages to break past it, it will be back on track to retest its previous ATH of $64,863.
Paxos, a blockchain services and tokenization firm has added Coinbase Ventures, FTX, Bank of America, and Founders Fund as backers in its Series D funding round that started last April. These institutions were listed as “strategic investors,” but the amounts of their contributions were not disclosed. Paxos has now raised more than $540 million in funding.
A new report issued by Crypto.com, a cryptocurrency exchange and fintech services firm, discovered that the number of people using cryptocurrencies has more than doubled since January, reaching 221 million last June. The report states that the rise of the defi movement, institutions like Tesla, Visa, Mastercard, and Microstrategy adopting cryptocurrency, and El Salvador establishing bitcoin as legal tender, were important events that helped to popularize crypto even more.
Ethereum has been in the headlines over the last week mostly because of its massive price gains. Today, the world’s largest altcoin is stirring up excitement in the community ahead of its much-anticipated London hard fork. It is going live in one week. Amid the already soaring prices of alts on the back of Bitcoin price gains, what to expect from the top altcoin in the next week?
A new mutual fund is set to allow investors to gain exposure to the flagship cryptocurrency bitcoin without buying BTC through an exchange or managing any private or public keys to manage their coins.
While the European Commission (EC) says it is not targeting non-custodial crypto wallets, their new set of legislative proposals would still affect such users and the whole nascent sector.
Niklas Schmidt, a lawyer and partner with the Austrian law firm Wolf Theiss, told Cryptonews.com that “in the context of an overhaul of the EU's anti-money laundering rules, the European Commission – in a desperate power struggle – wants to tighten the thumbscrews on cryptoassets, such as Bitcoin (BTC).”
The world’s largest crypto exchange Binance announced that it has completed the wallet integration for the Polygon (MATIC) mainnet token. Even more, it has also opened deposits and withdrawals for MATIC.
Eight China-related Bitcoin mining firms are planning to relocate operations to Paraguay in the wake of China’s crackdown on its domestic industry.