According to a press statement released by South Korea’s Financial Services Commission (FSC), over 20 crypto exchanges operating within the Asian country could cease operation as the September 24 deadline for crypto regulation draws near.
Blockchain insights platform CryptoCompare is outlining what it sees as increased interest in Ethereum-based investment products.
According to the firm’s new report, assets under management (AUM) of all investment products surged to $54.8 billion over the last 30 days, marking a growth of 57.3% despite an average weekly outflow of $22.5 million in the first three weeks of August.
North American country Cuba is aiming to officially recognize and regulate cryptocurrencies. As per a recent resolution published in the Official Gazette, the Central Bank will set up rules for the use of digital assets. The central bank also revealed that it would be working on licensing crypto service providers operating on the North American island. Cuba is currently under several sanctions from the USA, making it harder for people to use the US dollar.
To date, the Ethereum (ETH) blockchain network remains the most preferred choice for developers to build decentralized finance (DeFi) applications. However, the Defi industry is slowly moving towards a multichain future.
Bitcoin is about to step above $47,000 after the declines that dominated this week’s trading embraced crucial support. The flagship cryptocurrency had pulled the entire market down with it due to the rejection suffered above $50,000.
Turkish media reports that authorities there are investigating an alleged Dogecoin mining scam that pulled the rug on investors after amassing $119 million worth of deposits.
NFTs have had quite the roller coaster year. Spurred by the sale of Beeple’s The First 5000 days for a record $70 million, tokenized digital art was thrust into the mainstream earlier this year.
In a recent interview, Glauber Contessoto, the man who invested all of his savings (around $250,000) in Dogecoin ($DOGE) on February 5, said that he is going to start investing in Cardano ($ADA).
In an interview with CNBC, the Reserve Bank of India’s governor Shaktikanta Das revealed that India could begin its digital rupee trial by the end of the current year. Central banks, including those in China, Europe, and the U.K., are exploring digital currencies that they would issue, either to commercial lenders or to the public directly.
The People’s Bank of China once again asserted its crypto crackdown stance at a recent media briefing. The Central Bank stated that virtual currencies like Bitcoin can’t compete with legal tender in the nation. The bank officials argued that cryptocurrencies are not backed by any real value.