Finland sold stock of confiscated bitcoins

Cryptocurrency NewsBy 21/07/2022

According to the Finnish customs authorities, the service sold most of the stock of confiscated bitcoins and transferred more than €45 million to the state. Financial Director of the Finnish Customs Service (Tulli) Pekka Pylkkanen (Pekka Pylkkänen) said that most of the bitcoins previously confiscated by court order have been sold. The bulk of the virtual currency was confiscated in raids until 2018, and the authorities took a long time to decide what to do…

South Korea has postponed the imposition of a tax on cryptocurrencies

Cryptocurrency NewsBy 21/07/2022

The South Korean government has postponed the introduction of a 20% tax on cryptocurrencies for two years. The new law was to come into force on January 1, 2023. Government officials announced that the decision was made amid a sluggishness in the crypto market and additional time needed to prepare measures to protect investors. Initial plans to impose a tax on cryptocurrency profits exceeding 2.5 million won ($1,900) in one year remain unchanged. The new…

FBI warns of rise in fake cryptocurrency investment apps

Cryptocurrency NewsBy 20/07/2022

The US Federal Bureau of Investigation (FBI) has warned about the spread of fraudulent applications for investing in cryptocurrencies and their subsequent theft from US investors. The FBI reported that cybercriminals are contacting American investors, offering them supposedly legitimate services for investing in cryptocurrencies. Then they convince people to install fraudulent mobile applications and deposit funds, which are subsequently not returned to investors. According to the FBI, cybercriminals have already managed to steal about $42.7…

The liquidator of Three Arrows Capital accused the co-founders of the fund of embezzlement of assets

Cryptocurrency NewsBy 20/07/2022

The consulting agency Teneo claims that the Three Arrows Capital fund, despite problems with the return of capital to investors, continued to trade cryptocurrencies. Restructuring agency Three Arrows Capital (TAC) has released a court filing by crisis manager Russell Crumpler alleging that fund co-founders Su Zhu and Kyle Davies made the down payment on the yacht. worth $50 million. The yacht was to be delivered to Italy within two months of the last payment. The…

Poll: More than half of US banks consider blockchain and cryptocurrencies to be “secondary tasks”

Cryptocurrency NewsBy 19/07/2022

According to a survey conducted by the US Federal Reserve, most of the country’s banks have transferred developments in the field of cryptocurrencies and blockchain to the status of “secondary tasks”. Top finance managers of 80 major US banks participated in the survey. Of these, 56% said that blockchain products and crypto-currency services are now considered “low priority” or even “not significant” for business growth over the next two years. Only 27% of respondents noted…

Metaverse Yuga Labs announced the first visitors

Cryptocurrency NewsBy 19/07/2022

The Otherside project has demonstrated the possibilities of its own virtual platform for land owners in Otherdeed and developers. The metaverse team created by Yuga Labs invited 4,300 players for a first tech demo of the online platform. The virtual travelers were accompanied by a monkey avatar from the Yuga Labs collection. The tour participants who visited Biogenic Swamp were either land deed holders at Otherdeed or select developers of the studio’s other projects. Otherdeed…

Kenyan AfyaRekod launched a system for storing medical data on the blockchain

Cryptocurrency NewsBy 18/07/2022

The Kenyan medical company AfyaRekod has opened access to an automated universal system based on the blockchain for patients of medical institutions. AfyaRekod partners with the Kenyan Association of Sisterhoods, the Healthy Mind Foundation of Nigeria, AURA of South Africa, GE Healthcare, Telkom, AI Center of Excellence, Adanian Labs technology company and Lishe Living nutrition company, as well as the Africa Blockchain Center. The AfyaRekod platform was created as part of the NVIDIA AI program,…

Ethereum developer predicts switch to PoS in September

Cryptocurrency NewsBy 18/07/2022

The Ethereum puncture support engineer from the Ethereum Foundation announced the expected date for the merger of the test network with the main network and the transition to the Proof-of-Stake consensus mechanism. Tim Beiko has tweeted out a timeline for Ethereum to move from Proof of Work (PoW) to Proof of Stake (PoS). According to the document, the merger of Ethereum with the test blockchain is scheduled for September 19, 2022. The specialist warned that…

CedarFX – Trade with the First Eco-Conscious Broker

Cryptocurrency NewsBy 16/07/2022

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…

UN recommends that developing countries ban advertising of cryptocurrencies

Cryptocurrency NewsBy 15/07/2022

The United Nations (UN) has recommended that developing countries take strong action against cryptocurrencies, warning of the risks associated with the industry’s lack of regulation. According to a report titled “All that glitters is not gold” published by the United Nations Conference on Trade and Development (UNCTAD), the organization acknowledged that cryptocurrencies have some advantages. However, their disadvantages far outweigh the benefits that individuals and financial institutions can reap. UNCTAD has proposed that developing countries…

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