A Kenyan regulator, the Capital Markets Authority (CMA), has cautioned investors and Kenyan citizens against investing with Fxbitinvest, a bitcoin trading company. The warning was issued after the regulator noted Fxbitinvest’s use of exaggerated return-on-investment promises to lure unsuspecting Kenyans.
Ethereum, Bitcoin, and Cardano are the most invested in cryptocurrencies in Singapore, a recent survey by crypto exchange Gemini on the crypto investing behavior among adults in Singapore found.
Dogecoin became one of the biggest success stories of the year, as it went from being a “joke” coin to one of the most popular coins in the cryptocurrency sector. Mainly, on-chain activity, rising trading volumes on top exchanges, and an increase in attention from major influencers played a critical role in the crypto’s journey.
The crypto exchange giant Binance says that it has appointed a former American Treasury official as its new anti-money laundering (AML) enforcer – as the firm apparently moves to get on the good side of regulators around the world.
The People’s Bank of China’s branch in Shenzhen is cracking down on illegal cryptocurrency trading, the Chinese business news outlet Cnstock.com revealed Tuesday. As part of the new campaign, the PBOC has “rectified” 11 companies “suspected of carrying out illegal virtual currency activities,” the report detailed. According to the report, the PBoC has also identified a local financial website accused of illegally advertising foreign exchange cash deposit transactions.
A young South African electronics engineer has rued his decision to delete a text document containing the keys and password to a crypto wallet that held some 20 bitcoins. According to the engineer, the lost coins had been mined more than ten years ago using a modified personal computer that “boasted an AMD Phenom X3 processor and 512MB RAM.”
The last-minute cryptocurrency provisions added to the U.S. infrastructure bill sought to “capture DeFi,” argues Compound’s general counsel Jake Chervinsky.
Appearing on the Bankless State of the Network podcast on August 17, Chervinsky — who is also DeFi Chair of the Blockchain Association — said the industry had been “blindsided” by the infrastructure bill’s crypto tax provisions which were announced just nine days prior to when it was expected to pass through the senate.
In early July, JPMorgan released a report in which two of the bank’s analysts projected that the staking industry would be worth $40 billion in rewards by 2025. The report anticipates that once the Ethereum 2.0 network completes its transition from proof-of-work (PoW) to proof-of-stake (PoS,) payouts will more than double, up to $20 million from the current $9 million. Within the next four years, it will double again.
Retail shareholders of crypto-friendly trading app Robinhood are demanding a crypto wallet along with a branded hat and hoodie, a public shareholders questionnaire revealed.
As crypto breaches mainstream finance, authorities have started issuing warnings to citizens against unregistered crypto businesses.
Joining this list today is the Australian Securities and Investments Commission (ASIC) as it warned Aussie investors to be wary of unlicensed entities that offer financial products.