Category Archives: Cryptocurrency News

Central Bank of Nigeria will begin testing digital naira by the end of 2021

The head of the IT security department of the Central Bank of Nigeria, Rakiya Mohammed, announced that the regulator will begin testing its own digital currency this year. Mohammed explained that the digital currency of the Central Bank of Nigeria will act as a supplement to the state currency – Nigerian Naira, and also be used to ease restrictions on foreign exchange transactions in the country. However, the policy of the central bank to protect…

South Korea banned banks from servicing exchanges without following the KYC and AML rules

The Financial Services Commission of South Korea (FSC) has demanded that local banks stop providing services to traders and trading platforms that do not comply with KYC and AML procedures. According to the FSC, there are 60 cryptocurrency exchanges operating in the country today. Of these, only four are AML compliant using accounts with real names. Therefore, on June 9, the Financial Intelligence Unit of South Korea (FIU) held a meeting at which it stated…

Curve Finance has introduced a new model to improve the liquidity of a pool of volatile cryptoassets

The developers of the DeFi Curve Finance protocol have implemented a new model of work in the USDT / wETH / wBTC pool, which will allow achieving greater liquidity in the pool of volatile cryptoassets. The developers of Curve Finance, a decentralized exchange (DEX), have released a White Paper that describes a model for achieving greater liquidity in a pool of volatile cryptoassets using dynamic price pegging. The new version of Curve should appeal to…

Texas banks are allowed to provide cryptocurrency custody services

The Texas regulator has confirmed that state-registered banks are allowed to serve cryptocurrency firms and hold digital assets if reserves are available. According to the published document, banks can provide such custodian services, provided that they have developed appropriate policies for effective risk management and compliance with applicable laws. Considering that cryptocurrencies do not exist in physical form, but in the blockchain, the owner of cryptocurrencies has private keys with which he can access them.…

FSC will prohibit employees of South Korean exchanges from trading cryptoassets at the employer’s site

In accordance with the new requirements for the registration of cryptocurrency exchanges in South Korea, employees caught trading on the employer’s platform face a fine of up to 100 million won ($ 89,844). According to a statement from the South Korean Financial Services Commission (FSC), on June 3, the agency’s Financial Intelligence Unit met with executives from major South Korean cryptocurrency exchanges to brief them on the updated requirement. South Korea’s revised Financial Transaction Reporting…

Microsoft warns of “shadow miner” attacks on Kubernetes clusters

Computer security specialists from Microsoft announced a series of hacker attacks on Kubernetes clusters running Kubeflow containers for hidden cryptocurrency mining. Kubernetes is a popular container orchestration system, and Kubeflow allows you to quickly and easily deploy machine learning container instances. Hackers attack clusters with deployed Kubeflow systems to deploy their own containers in which XMR and ETH miners run. The attacks began at the end of May. Computer security experts have discovered a sudden…

Parachain auctions in the Kusama network of the Polkadot project will be launched on June 15

The first parachain slot auction will begin on the Polkadot Project Kusama Experimental Network on June 15th. The move brings Polkadot developers closer to launching parachain auctions on the mainnet. In a blog post, Polkadot founder Gavin Wood laid out a timeline and some guidelines for rolling out parachain auctions – fundraising where projects block cryptoassets in order to win one of the parachain slots on the experimental Kusama network. Deploying parachain auctions on the…

The first project on the Blockfunder IEO platform will be the crypto-social network Blockster

Futures and Spot Exchange Digitex announced the launch of Blockfunder, a platform for conducting IEOs and accelerating the development of promising projects in the crypto space. Through Blockfunder, Digitex will promote tokens for promising projects by selecting the best offers. The first project on Blockfunder will be Blockster, a social network for crypto enthusiasts with a BXR token created for advertising and staking. Blockster has been in development for a year now, and the platform…

WEF published a report on the risks and benefits of DeFi

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

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…