Category Archives: Cryptocurrency News

BIS: Cryptocurrencies, by virtue of nature, will not be able to replace traditional money

The Bank for International Settlements (BIS) believes that the limit on the number of transactions in the blockchain will prevent cryptocurrencies from gaining an attractiveness similar to that of fiat money. BIS posted a report in which the bank’s experts argue that cryptocurrencies, due to the “fragmentation effect”, cannot fulfill the social role of money in the global financial system and become an effective means of payment. The authors of the report explain that as…

Miners get ready: state of emergency declared in the USA due to lack of electricity

American President Joe Biden has declared a state of emergency in the country due to a lack of power generating capacity, which could negatively affect the activities of local miners. According to the president’s statement posted on the White House website, power is critical, and even isolated power outages “could be catastrophic to the economy and national security.” The problems are caused by extreme weather events, which are increasingly due to climate change. For example,…

Japan will bring cryptocurrencies into the asset forfeiture law

Japan’s Ministry of Justice intends to amend its asset forfeiture law to allow law enforcement to seize cryptocurrencies associated with criminal activity. According to local media, the Japanese authorities are about to revise the Organized Crime and Proceeds of Crime Control Act of 1999. A provision will be added to it explaining in which cases crypto assets can be confiscated. This will allow law enforcement agencies and courts to take control of digital assets stolen…

US regulator: Gemini bitcoin futures bid is misleading

The U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against Gemini Trust Company in the District Court for the Southern District of New York. The regulator alleges that from around July to December 2017, the company misled the regulator in an attempt to gain approval for its bitcoin futures product. The Gemini product was launched in late 2017 with Cboe Global Markets. The specifics of the product was that the bitcoin contract had to…

Bermuda plans to tighten regulation of cryptocurrencies

The Minister of Economy and Labor of Bermuda promised that in connection with the collapse of Terra, new rules for regulating digital assets will be quickly developed. Jason Hayward, in an interview, expressed the opinion that the fall of the cryptocurrency market is not an unfavorable event. It can help islands become a magnet for investors in digital assets: “We are aware of the recent drop in crypto prices and remain confident that this does…

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…

OKX became the main sponsor of the Tribeca Film Festival

Cryptocurrency exchange OKX has become the main sponsor of the Tribeca Film Festival for the next three years. During this period, OKX will educate filmmakers on the benefits of cryptocurrencies and Web3 technology. As part of this agreement, OKX will co-finance the production of films intended to be shown in the metaverse, as well as providing film industry actors with the opportunity to receive payment for their work in cryptocurrency. At the Tribeca Film Festival,…

Economist: Investors have become more accepting of cryptocurrencies

Analysts at Economist Impact believe that more and more investors see digital currencies as a useful tool for portfolio diversification. The Economist magazine published the results of a study on the degree of consumer confidence in digital payments and on the barriers that prevent the transfer of their funds into digital assets. The report compares the trends of previous surveys on the same topic in 2020 and 2021. The study involved 3,000 respondents, half of…

Goldman Sachs in talks with FTX to integrate derivatives trading

Goldman Sachs and other Wall Street banks are looking to expand their presence in the crypto space through a partnership with FTX. The investment bank plans to integrate leveraged derivatives trading, Barron’s writes, citing its sources. The cooperation between FTX and Goldman Sachs should bring to the bank such advantages as direct trading in futures, access to the user base of the crypto exchange, replenishment of the capital of the bank’s clients. Recall that at…

KuCoin launches its own crypto wallet

KuCoin cryptocurrency exchange expands its presence in the Web3 ecosystem with the KuCoin Wallet decentralized platform. The wallet platform is currently only available for the browser, however, as the company promises, a mobile application is already in development and will be launched in June. The platform connects to the KuCoin ecosystem and provides cross-cloud integration. Exchange customers will be able to buy, sell, exchange and send all major digital currencies, including bitcoin (BTC), ether (ETH)…