Category Archives: Cryptocurrency News

SushiSwap Exchange Launches Smart Contracts on Avalanche Blockchain

The SushiSwap decentralized exchange will deploy its smart contracts on the Avalanche blockchain to expand the Decentralized Finance (DeFi) ecosystem. Given the high demand for decentralized finance (DeFi) products, the Ethereum network is struggling to keep up with the workload. This led to an increase in transaction fees. Nevertheless, Ethereum provides a powerful foundation for the development of DeFi. Therefore, the developers of Ava Labs believe that integration with one of the largest decentralized exchanges…

Central Bank of Jamaica will launch its own digital currency in 2022

  The central bank of Jamaica plans to begin testing the state digital currency in December, with a launch scheduled for next year. This was announced by the Minister of Finance of Jamaica Nigel Clarke (Nigel Clarke) during a speech at the annual meeting of parliament, which discussed issues related to the state budget. The Jamaican government believes it is necessary to accelerate the transition to digital currency for a more effective economic recovery after…

DC Comics May Enter Collectible Token Market

DC Comics May Enter Collectible Token Market DC Comics, one of the largest and most popular comic publishers, may launch its own collection token (NFT) lines based on popular comics. The letter from DC Comics’ Legal Department emphasizes that the publisher’s employees and contractors must respect the copyright of DC Universe characters when issuing NFT tokens. “DC is exploring the possibility of entering the collectible token market for the release of digital works with NFT…

CryptoUK urges UK Treasury to expedite registration of companies with FCA

The CryptoUK Digital Asset Trading Association has called on the UK Treasury Secretary to act on delays in the registration process for startups with the Financial Conduct Authority (FCA). CryptoUK is a self-regulatory association established in 2018 and representing over 50 companies in the cryptoasset industry. In a letter to UK Treasury Secretary Rishi Sunak posted on the CryptoUK website, Group Chairman Ian Taylor said the UK is “missing an important opportunity.” Cryptocurrency companies trying…

India may be criminalized for holding cryptocurrency

An anonymous senior official from the Indian government said that the country could soon pass a law banning not only the circulation, but the storage and transfer of cryptocurrencies. A senior Indian official told Reuters that a bill to completely ban cryptocurrencies in the country is likely to be passed shortly by the government of Prime Minister Narendra Modi, which controls the majority of votes in parliament. The bill criminalizes the possession, release, mining, trading…

NYDFS issued BitLicense to Bakkt trading platform

The New York State Department of Financial Services (NYDFS) has issued a BitLicense to the Bakkt trading platform, which will allow it to legally work with residents of this state. NYDFS has been issuing BitLicense since 2015. Firms wishing to obtain a license must meet certain requirements. In addition, obtaining a BitLicense costs a rather large amount – up to $ 100,000. The head of NYDFS Linda Lacewell said that the department is ready to…

Ethereum Developer offered a faster transition to PoS

Ethereum developer Mikhail Kalinin has published a document proposing a faster merger of the ETH1 and ETH2 blockchains and, accordingly, a faster transition to PoS. The Ethereum 2.0 network based on PoS is already in operation – this is the so-called Beacon Chain, launched on December 1, 2020. Stakers have already blocked $ 6.2 billion worth of ETH to participate in block production. Kalinin has published specifications for connecting the Ethereum mainnet and the Beacon…

INATBA: “EU cryptocurrency regulation will hinder innovation but eliminate fraud”

According to a survey by INATBA, most cryptocurrency firms believe that the EU Cryptocurrency Regulation (MiCA) bill will hinder innovation but reduce fraud. The International Association for the Development of Trusted Blockchain Applications (INATBA) conducted a survey of 44 CEOs of cryptocurrency firms and startups to get their opinion on the MiCA bill. An unofficial version of the MiCA proposed by the European Commission hit the web last fall. The bill contains the rules for…

In South Korea cryptocurrency exchanges will be fined for not complying with AML rules

In South Korea cryptocurrency exchanges will be fined for not complying with AML rules The Financial Services Commission of South Korea (FSC) has introduced new rules according to which cryptocurrency exchanges will be fined for non-compliance with anti-money laundering (AML) rules. Under the new rules, virtual asset service providers (VASPs), including cryptocurrency exchanges, will be fined if: VASPs do not track and report suspicious transactions; digital asset firms do not store relevant suspicious transaction data;…

Media: Bithumb stops serving traders from 21 countries

South Korean cryptocurrency exchange Bithumb has stopped serving traders from 21 countries due to the tightening of anti-money laundering measures under the FATF directive. According to local media reports, Bithumb has banned traders from 21 countries from opening new accounts and froze existing user accounts. These actions were implemented in order to comply with the requirements of the Financial Action Task Force on Money Laundering (FATF), as well as to improve investor protection and increase…