Category Archives: Cryptocurrency News

OK Group will help the Chinese police in the fight against money laundering through cryptocurrencies

OK Group, the operator of the OKEx cryptocurrency exchange, announced a partnership with the police in the Chinese city of Nanjing to use blockchain to combat money laundering through cryptocurrencies. OKLink, a subsidiary of the OK Group, will work with the Nanjing Public Security Bureau to develop blockchain-based solutions. They will focus on providing public safety and tracking suspicious digital asset transactions to prevent them from being used for money laundering. An OKLink spokesman stressed…

Hop Protocol Launches USDC Bridge Between Ethereum, Polygon and xDai

The developers of the Hop protocol for the interaction of Ethereum’s second level solutions have launched a “bridge” for the USDC stablecoin between Ethereum, Polygon and xDai. According to the Medium Hop Protocol blog post, the USDC “bridge” launched with limited functionality and now supports “instant” transfers of USDC between the Ethereum mainnet, Polygon, and xDai Chain. The Hop developers plan to expand the number of supported assets over the “next two weeks”, including crypto…

PMorgan: “BTC’s potential as a means of payment in El Salvador is limited”

According to JPMorgan analysts, the use of BTC in the economy of El Salvador is facing obstacles, which indicates possible “restrictions” on the use of the cryptoasset as a means of payment. The problem with using bitcoin as a means of payment in El Salvador is that most of the coins in circulation have not changed hands for over a year. Analysts at JPMorgan note daily payments activity in the country, which accounts for about…

Power Ledger platform migrates from Ethereum to Solana

Australian company Power Ledger is migrating its Energy Blockchain platform from Ethereum to Solana to improve transaction speed and scalability. According to a statement from Power Ledger, the platform is now being used globally to streamline renewable energy buying and selling processes. “The Power Ledger tech stack was originally built on the EcoChain consortium network at PoS consensus in 2016, and then transferred to the modified Proof-of-Authority Ethereum consortium chain in 2017,” said Power Ledger…

19th century power plant earns three times more from mining than selling electricity

Interesting results were summed up by a small hydroelectric power plant in Mechaniqueville, New York. It turned out to be three times more profitable to mine bitcoins using the generated energy than to sell it. The Mechaniqueville hydroelectric power plant is one of the oldest in the United States, built in 1897. Then it was mothballed, and in 1986 its activity resumed. According to the CEO of Albany Engineering Corp (AEC), which owns the station,…

The European Union will create an agency to combat money laundering through cryptocurrencies

The European Commission will form a new agency, the Anti-Money Laundering Authority (AMLA), to oversee the cryptocurrency industry in the European Union. The European Commission has proposed to create a new body, which will include the regulatory bodies of European countries. The AMLA is supposed to become the “central agency” in Europe that will monitor whether cryptocurrency transactions comply with anti-money laundering (AML) regulations. The department will also coordinate the activities of state supervisory authorities,…

CedarFX – Trade with the First Eco-Conscious Broker

It’s not every day that you come across a broker with a vision to make a positive impact beyond the world of finance. CedarFX, however, is changing that perception. The leading online broker has recently launched a revolutionary Eco Account option to its traders, making it the first-ever Eco-conscious broker to exist! Through their various account options, CedarFX is dedicated to helping traders reach higher by offering ultra-high leverage and low spreads. Traders can get…

Cryptocurrency salary bill submitted to Argentina’s Congress

A member of the lower house of the National Congress of Argentina presented a bill that will allow workers in the export of goods and services to receive full or partial salaries in cryptocurrencies. Member of the Argentine Chamber of Deputies, José Luis Ramón, said his proposed bill would apply to anyone who provides services or works for hire. If this proposal is accepted, residents of the country will be able to choose how they…

Circle will go public through merger with Concord Acquisition Corp

Circle, the issuer of the USDC stablecoin, has announced a merger with Concord Acquisition Corp, which will allow it to enter the US stock market later this year. Circle receives funding from US investment bank Goldman Sachs. This bank acts as the exclusive financial advisor to Concord. With the help of a specialized targeted mergers and acquisitions company (SPAC), Circle plans to list its securities on the New York Stock Exchange (NYSE) under the ticker…

Iran suspended the work of licensed mining companies until August

Iranian First Vice President Eshak Jahangiri has called on all licensed miners in the country to stop operating due to the ongoing energy crisis. According to the Tasnim News Agency, Eshaq Jahangiri said in a meeting with Department of Energy officials that electricity consumption restrictions for cryptocurrency miners are likely to remain until early August. In May, the Iranian president approved a ban on mining cryptocurrencies until September 22, as mining overloads the country’s energy…