Category Archives: Cryptocurrency News

U.S. Congressmen Introduce Bill to Clarify Cryptoasset Regulation

US lawmakers have proposed creating a working group, which will include representatives from the SEC and CFTC, to assess the current regulatory framework for cryptocurrencies and make recommendations for changing it. Members of the US House of Representatives Patrick McHenry and Stephen Lynch have presented a bill that will help clarify the regulation of cryptoassets. The bill calls for the creation of a working group composed of industry experts, representatives from the Securities and Exchange…

Venezuelans will be able to buy cryptoassets through the state payment system Biopago

Venezuelan citizens will be able to buy dollar-pegged stablecoins through the government’s biometric payment system Biopago, thanks to the Bank of Venezuela’s partnership with Glufco. Venezuelans will be able to buy cryptocurrency directly from government social security accounts. Thanks to the Bank of Venezuela’s partnership with financial services startup Glufco, Venezuelans will be able to buy USD-pegged stablecoins through the same infrastructure that powers the country’s biometric payment system, Biopago. The Biopago platform plays an…

IRS will track tax evading owners of cryptoassets via blockchain

The US Internal Revenue Service (IRS) has launched a program to identify cryptocurrency owners who are hiding their income. For this, IRS employees will be trained in blockchain analysis. IRS Anti-Fraud Director Damon Rowe said the IRS will work to identify unreported revenue streams through the Operation Hidden Treasure program. The main priority of the program is to detect cryptocurrency users who hide their income. Operation Hidden Treasure is a joint program of the Anti-Fraud…

Blockchain Association will discuss with the Biden administration the development of the cryptocurrency industry

The Blockchain Association, an American advocacy group, will discuss with the administration of US President Joe Biden the possibility of creating favorable conditions for the development of the cryptocurrency industry in the country. The Blockchain Association includes cryptocurrency exchanges Circle, Binance.US, Kraken and investment company Grayscale. Blockchain Association Executive Director Kristin Smith announced meetings with senior White House politicians, including US Treasury Secretary Janet Yellen, candidate for deputy secretary and former BlackRock chief Wally Adeyemo,…

Ethereum Developers included EIP with “burning fees” in July hardfork London

Ethereum developers have decided to include EIP 1559 in the London hard fork scheduled for July. EIP 1559 implies burning ETH when paying commissions. Based on the results of the last meeting of Ethereum developers, it was decided to include EIP 1559 in the London hard fork in July this year, despite the dissatisfaction of the miners. Five more EIPs could also be included in the update. EIP 1559 will greatly change the transaction –…

Ripple is testing closed version of XRP Ledger for issuing government cryptocurrencies

Ripple is testing a closed version of the blockchain that will provide central banks with a secure, controlled and flexible solution for issuing and managing government cryptocurrencies. According to an article on Ripple’s blog, the company is testing a new proprietary version of the XRP Ledger, which is specifically designed to issue government cryptocurrencies. According to the company, this is a “revolutionary solution” based on the same technology as the original blockchain. CBDC Private Ledger…

Meerkat Finance project on Binance Smart Chain closed one day after launch

The Meerkat Finance decentralized finance project on the Binance Smart Chain blockchain reported the theft of $ 31 million worth of crypto assets. There are suspicions that the organizers of the project could have stolen them. The startup closed just a day after launch. The Meerkat Finance team reported in Telegram that a hacker attack was carried out on the vault, during which about 13 million BUSD and 73,000 BNB were stolen for a total…

Tata Power Uses Power Ledger Blockchain To Sell Solar Energy

Indian energy company Tata Power DDL and India Smart Grid Forum (ISGF) are working with Power Ledger to test a blockchain-based platform for selling solar energy. Tata Power DDL serves over 7 million residents of North Delhi. The firm is a joint venture between Indian energy giant Tata Power and the National Capital Territory of Delhi. ISGF is a think tank that includes many of India’s ministries, utilities, technology providers and researchers. The pilot project…

Banco de Bogotá will start conducting cryptocurrency transactions

Banco de Bogotá, one of the oldest Colombian banks, will participate in a pilot cryptocurrency project under the control of the Colombian Financial Authority. The management of Banco de Bogotá announced that testing of the project will begin this month, and certain clients of the bank will become its participants, who will carry out cryptocurrency transactions in a limited volume. Banco de Bogotá customers will have the opportunity to purchase cryptocurrencies for Colombian pesos and…

Litecoin Creator compared the NFT market to the 2017 ICO boom

Litecoin creator Charlie Lee criticized the non-fungible token (NFT) industry, comparing it to the ICO boom in 2017. Lee believes the surge in NFT’s popularity has a lot to do with the ICO mania in 2017 and even the altcoin craze in 2013. According to Lee, the similarity of NFT, ICO and numerous forks of 2013 lies in the absence of barriers to their creation, and all this is aimed at massively attracting people to…