Category Archives: Cryptocurrency News

The Central Bank of Morocco is working on a bill to regulate cryptocurrencies

The Central Bank of Morocco has begun drafting legislation to control cryptocurrencies and combat illegal activities in the digital industry. Central Bank Governor Abdellatif Jouahri said the bill would be submitted soon. The development is carried out by the International Monetary Fund (IMF) and the World Bank. The regulator is also consulting with the central banks of France, Sweden and Switzerland, who share their experience in regulating cryptocurrencies. Juahri assured that the updated regulatory framework,…

Top manager of American Express: “Payments in crypto-currencies are unprofitable now”

Director of Government Relations for Southern Europe at American Express believes that it is not profitable to pay with cryptocurrencies now. Gonzalo Pérez del Arco at the European Blockchain Convention 2022 spoke about the plans of the American Express payment system related to cryptocurrencies. He named several factors that hinder the introduction of digital currencies in the field of payments: high commissions for conducting transactions and the unwillingness of most merchants to accept payments in…

Yuga Labs accuses Ryder Ripps of counterfeiting Bored Ape NFT collection

Yuga Labs filed a lawsuit over copyright infringement of the Bored Ape series of non-fungible tokens and disruption of economic activity, as a result of which developers may incur losses. Bored Ape, founder of the NFT Yacht Club, tweeted that the application was filed on June 24 in the District Court of Central California. The studio suspects artist Rider Ripps and his partners of infringement, who, the plaintiffs insist, created and sold “fake copies of…

Nexo denied the accusation of misappropriation of donations for the children’s fund

Lending platform Nexo, in response to an accusation by a Twitter user of embezzling funds for charity, warned that it could take the slanderer to justice. Otteroooo published a series of posts alleging that the founder of Nexo and members of his family were siphoning off funds from HelpKarma, a children’s health charity in Bulgaria. Nexo representatives allegedly used the donations to buy real estate and fund “lavish personal travel.” Otteroooo elaborated that Nexo has…

Tencent launches division to enter the Metaverse market

One of the largest Chinese software developers Tencent announced the creation of a division that will cover all initiatives for the company’s entry into the metaverse market. The company plans to produce both software and hardware products for the Metaverse. This means that Tencent will compete with giants such as Microsoft and Meta. The new division, which will be led by the company’s CTO Li Shen, will be unlike any existing at Tencent. The company…

Restaurant Bored & Hungry stopped accepting payments in cryptocurrency

A themed restaurant in California, named after the Bored Ape Yacht Club cryptocurrency project, has stopped accepting ApeCoin and Ethereum from visitors. Bored & Hungry was originally opened to reflect the bored monkey project aesthetic of the Bored Ape Yacht Club (BAYC). The walls are adorned with memes and NFT images in the form of collectible token characters. Recognizable drawings are present even on the dishes. In April, the restaurant announced that it would accept…

CedarFX – Trade with the First Eco-Conscious Broker

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…

Celsius troubles spark Ledger crypto wallet sales boom

Hardware wallet makers have announced that Ledger Enterprise sales have nearly quintupled amid the turmoil in the cryptocurrency market. Asked by reporters about the impact of the market downturn on the company, Ledger CMO Ian Rogers clarified that sales “jumped 4.5 times in a day on the news of the Celsius platform issues” and continue to be high: “Sales are highly correlated with the outflow of money from cryptocurrency exchanges. Therefore, the more information people…

eBay buys NFT marketplace KnownOrigin

The US-based e-shop and online auction company will expand its services and allow its users to purchase digital collectibles. eBay has announced the acquisition of the KnownOrigin non-fungible token trading platform. The financial terms of the deal were not disclosed, however, according to the company, the agreement was signed on June 22. eBay buys the platform along with the intellectual property and the team. “eBay is the first place people go when they want to…

CoinShares: Investors Buy Bitcoin Despite Bearish Moods

Analysts at CoinShares say that amid negative market sentiment, total assets under management are at their lowest level since February 2021. According to a new weekly report from CoinShares, capital outflows from crypto funds totaled $39 million. Total assets under management (AuM) is now at its lowest level since February 2021 at $36 billion, 59% below its November 2021 peak. However, despite the negative sentiment, investment flows in cryptocurrencies have remained positive since the beginning…