WEF published a report on the risks and benefits of DeFi

Cryptocurrency NewsBy 09/06/2021

The World Economic Forum (WEF) has published a paper on the opportunities and risks of decentralized finance (DeFi) and its impact on the financial sector. The document outlines the challenges that can be addressed with this emerging sector of the cryptocurrency industry. It also provides general information about DeFi so that policymakers and regulators gain a broader understanding of it. The WEF researchers paid particular attention to the risks associated with DeFi. First of all,…

Denmark will amend the Tax Code on cryptocurrencies

Cryptocurrency NewsBy 09/06/2021

The Danish Tax Authority will amend the current Tax Code of the country to reflect the use of cryptoassets and prevent tax evasion. Danish Tax Minister Morten Bødskov said that between 2015 and 2019, the Danish Tax Service identified about 16,000 individuals and legal entities involved in cryptocurrency trading. However, two thirds of the total number of transactions made by these persons during the specified time were not reflected in tax returns. Bedskov said that…

MIIT Published Guide to Accelerate Blockchain Implementation in China

Cryptocurrency NewsBy 08/06/2021

The Ministry of Industry and Information Technology of China (MIIT) has published guidelines for accelerating blockchain adoption in various industries without using cryptocurrencies. MIIT has identified blockchain as an integral part of information technology that could be critical to China’s future development. Back in October 2019, Xi Jinping, Chairman of the People’s Republic of China, called for accelerating the implementation of blockchain in the country. The department named the key areas for the introduction of…

Central Bank of England: “stablecoins will be more in demand than deposits in banks”

Cryptocurrency NewsBy 08/06/2021

Researchers at the Bank of England published a paper that examined the possible implications of the introduction of private and public stablecoins, as well as their role in the development of the financial system. Bank of England Governor Andrew Bailey said the possible use of stablecoins as a means of payment and the active development of government digital currencies raise many questions. According to him, they should be carefully considered by central banks and governments…

Square will invest $ 5 million in solar-powered BTC mining at Blockstream facilities

Cryptocurrency NewsBy 07/06/2021

Payments company Square and Blockstream will set up a solar-powered BTC mining joint venture to demonstrate that Bitcoin mining can be green. Under the terms of the agreement, Square will invest $ 5 million in a new mining facility, and Blockstream will provide a practical solution for creating and managing the project. The facility will be located at one of the Blockstream locations. The topic of environmental friendliness of BTC mining has been actively discussed…

Anonymous hackers accused Elon Musk of “destroying the lives” of cryptocurrency owners

Cryptocurrency NewsBy 07/06/2021

The hacker group Anonymous posted a video accusing the Tesla CEO of his tweets that rocked the cryptocurrency markets and “ruined the lives” of cryptocurrency owners. The video was published on the Youtube channel of the well-known decentralized hacker group Anonymous. It is impossible to say with certainty that the video was created by hackers Anonymous, although it has all the hallmarks of past videos that are believed to have been created by members of…

CedarFX – Trade with the First Eco-Conscious Broker

Cryptocurrency NewsBy 04/06/2021

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…

ECB: “if the Central Bank does not launch digital currencies, risks of financial stability may arise”

Cryptocurrency NewsBy 04/06/2021

The European Central Bank (ECB) has released a large-scale report in which analysts assess the international role of the euro, as well as discuss the prospects for issuing digital currencies. The authors of the report believe that the issuance of their own digital currencies by central banks is extremely important for maintaining the position of regulators. If such assets are not launched, this could threaten the role of central banks in the country’s economy –…

The court rejected the claim of Steve Wozniak against YouTube

Cryptocurrency NewsBy 04/06/2021

The judge dismissed a lawsuit filed by Apple co-founder Steve Wozniak against YouTube for posting fraudulent videos of Bitcoin giveaways on his behalf. According to the court ruling, the YouTube platform is not responsible for advertising fraudulent cryptocurrency schemes. Santa Clara County Superior Court Judge Sunil Kulkarnia explained that YouTube and its parent company Google are protected by Section 230 of the Media Decency Act, which exempts Internet platforms from liability for content posted on…

IOTA Developers launched the second test network Nectar

Cryptocurrency NewsBy 03/06/2021

The IOTA Foundation announced the launch of a “DevNet” (Developer Network) called Nectar, which will be the second preparatory phase for the rollout of the IOTA 2.0 Update. The developers said that the Nectar phase will play a key role in preparation for the final launch of IOTA 2.0, which is due to take place in late 2021. The move into the Nectar phase came after the rollout of the Chrysalis update to the IOTA…

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