Category Archives: Cryptocurrency News

ECB President: “Bitcoin is a speculative asset and needs regulation”

European Central Bank (ECB) President Christine Lagarde called bitcoin “an overly speculative asset” that needs regulatory oversight. Lagarde announced this at the Reuters Next conference. According to Lagarde, bitcoin is being used to “conduct suspicious cases, illegal transactions and money laundering.” Therefore, the President of the ECB urged regulators to agree on rules for regulating cryptocurrencies at the international level as soon as possible. Lagarde is convinced that the leaders of the G7 (G7) and…

Gemini trust will support the launch of Bitcoin ETFs in Canada

Arxnovum Investments has applied to register a Bitcoin Exchange Traded Fund (ETF) in Canada. The Winklevoss brothers’ New York Gemini Trust will hold the fund’s assets. Arxnovum Investments has submitted an application to launch the Arxnovum Bitcoin ETF with the Ontario Securities Commission (OSC). The firm plans to list the financial instrument on the Toronto Stock Exchange (TSX) under the ticker “BIT.U.”. The statement to the regulator was sent by the CEO of Arxnovum Investments…

The first 10 BTC transaction between Satoshi Nakamoto and Hal Finney is 12 years old

12.01 marks the 12th anniversary of the first Bitcoin transaction. Its recipient was cryptographer Hal Finney, to whom Satoshi Nakamoto sent 10 BTC. The transaction was made 9 days after the creation of the first block and three days after the start of mining. In 2009, Finney wrote on the Bitcointalk forum that he mined the “70-something” block and became a participant in the first test transaction on the Bitcoin network. Finney made the first…

New Zealand regulator warned of the risk of investing in crypto assets

The Financial Markets Authority (FMA) has warned New Zealanders about the risk of investing in cryptocurrencies, their high volatility, and the lack of industry regulation in the region. The FMA said that New Zealanders who have considered buying cryptocurrencies should be aware that these are “high risk and highly volatile” assets. “Cryptocurrencies are not regulated in New Zealand and are often used by scammers and hackers,” said an FMA spokesman. Earlier this week, the UK…

eToro has stopped trading with leverage in Europe

The eToro trading platform suddenly stopped leveraged trading in European countries due to “extreme market volatility”. On January 8, eToro’s clients in European countries where CFDs are allowed to trade received an email from the company. It stated that if traders did not increase their margin to 100%, then their positions would be closed at 21:00 GMT. Clients with an available balance can keep positions open by adding funds, while clients with no available balance…

Bangladesh City Bank has held the first letter of credit on the Contour blockchain

The International Islamic Trade Finance Corporation (ITFC) and Bangladeshi City Bank have completed a letter of credit deal on the Contour blockchain. The transaction was carried out in accordance with Sharia law. The cross-border L / C transaction was facilitated by the ITFC unit specializing in trade finance under the Murabaha agreements. The letter of credit was issued on behalf of Debonair Group, a Bangladeshi apparel manufacturer, with Hong Kong-based trading company Apparel Link. The…

Hyundai uses blockchain to authenticate auto parts

Auto parts manufacturer Hyundai MOBIS, a subsidiary of Hyundai, has launched a new artificial intelligence and blockchain-based MAPS parts authentication system. The MAPS platform will be used to distribute parts for Hyundai and Kia vehicles. Up to 100,000 people, including 16,000 dealers in more than 200 countries, will have access to the system throughout the supply chain. The system supports three million different parts for 300 car models. Blockchain is used to verify the originality…

Shinhan bank will launch a custodian solution for cryptocurrencies

Shinhan Bank, a major commercial bank in South Korea, has invested in the Korea Digital Asset Trust (KDAC) to offer a crypto asset custody service to its clients. According to inews24, the bank announced an investment in KDAC, a joint venture between the local cryptocurrency exchange Korbit, Blocko and Fair Square Lab. KDAC offers custody solutions for cryptoassets. A Shinhan Bank spokesman said the upcoming cryptocurrency services “will help the bank provide effective custodial solutions…

ShapeShift Exchange Integrates DeFi Protocols To Bypass KYC

Non-custodial cryptocurrency exchange ShapeShift has announced the integration of DeFi apps Uniswap, Balancer, Curve, Bancor, Kyber, 0x and mStable. This will allow ShapeShift clients to avoid the KYC procedure. ShapeShift CEO Erik Voorhees said the integration with Decentralized Finance (DeFi) protocols will ensure liquidity, competitive pricing, availability and security of digital assets. Plus, ShapeShift customers no longer need to be authenticated. Previously, ShapeShift required its customers to pass KYC, since the exchange acted as a…

Central Bank of Kyrgyzstan has published two bills of cryptocurrency regulation

The National Bank of Kyrgyzstan submitted for public discussion two draft laws “On the turnover of cryptocurrencies” and “On amendments to some legislative acts in the field of virtual assets”. The new legislation aims to regulate cryptocurrency exchanges. According to the new rules, such sites must be managed by legal entities licensed by the country’s central bank. The draft laws provide reporting requirements to reduce the risks of money laundering and terrorist financing. The updated…