Category Archives: Cryptocurrency News

SIBAN Association: Nigerian authorities must stop demonizing blockchain

The Blockchain Association of Nigeria (SIBAN) called on government agencies and banks not to refuse service to companies operating in the crypto industry. SIBAN believes that financial institutions should not use the Central Bank of Nigeria’s bias towards cryptocurrencies as a reason to refuse service to blockchain companies. SIBAN reminds that blockchain technology is not only about cryptocurrencies. Cryptocurrencies are created, stored and transferred using this technology, but the blockchain can be applied in such…

Coinbase NFT opened access to registered users of the exchange

Trading platform Coinbase, after six years of development, launched beta testing of a platform for trading non-fungible tokens based on Ethereum. Cryptocurrency exchange Coinbase announced in its blog that it has launched testing of the beta version of its own platform for NFTs. Coinbase Vice President of Ecosystem Products Sanchan Saxena said that any user can take part in testing the new platform. “We are taking the first step on this path by releasing our…

US warns of North Korea’s cryptocurrency scam

The US government has accused North Korean hackers of attacking US technology companies to steal digital assets. The US Department of the Treasury, together with the FBI and the Cybersecurity and Infrastructure Security Agency (CISA), issued a cybersecurity advisory warning of North Korean hack attacks on the blockchain and cryptocurrency industry. The recommendations say that the US government has long watched as North Korean cybercriminals prey on organizations working in the field of new technologies.…

FATF intends to tighten supervision of AML compliance in the crypto industry

The Financial Action Task Force (FATF) believes that more than half of jurisdictions do not comply with AML in relation to crypto companies. The group has posted a FATF State of Performance and Compliance report stating that nearly half of the countries still do not require cryptocurrency service providers to properly identify customers under anti-money laundering and terrorist financing (AML) regulations. The FATF has promised to strengthen monitoring of member countries, including the US, China…

Iranian authorities will tighten the punishment for unlicensed mining

In the Islamic Republic of Iran, they are going to pass a law according to which the illegal use of electricity for the extraction of cryptocurrencies is punishable by a large fine and prison. Mohammad Khodadadi Bohlouli, a spokesman for the state-owned electric power company Tavanir, said the tougher penalties include a minimum of three to a maximum of five times fines, imprisonment, and, in the event of a repeat violation, revocation of business permits.…

Core Scientific began to report daily on mined bitcoins

The mining company Core Scientific (CORZ), in order to demonstrate the transparency of reporting, launched a functionality on its website that displays the daily production of bitcoins. CORZ said the innovation is being introduced primarily for the attention of investors and regulators. The data will be updated every day at 12:00 ET (19:00 Moscow time) on the home page of the mining company (top left). CORZ CEO Mike Levitt said the data is “one of…

President of the U.S.A chose ex-Ripple adviser as vice chairman of the Fed

The Joseph Biden administration has proposed to the Senate that a former crypto industry consultant be approved for the position of vice chairman of the US Federal Reserve. Michael Barr was nominated by the President of the United States on April 15. Now the US Senate, which rejected Biden’s previous choice, Sarah Bloom Raskin, must vote to nominate a new Federal Reserve Vice Chair. The White House presented Michael Barr as someone who “dedicated his…

Irish lawmakers propose to ban politicians from accepting contributions in cryptocurrencies

Member of the Irish House of Representatives Darra O’Brien proposed to ban political parties from accepting donations in cryptocurrencies due to fears of interference in election campaigns. Darragh O’Brien has sent a letter to Ireland’s political party leaders asking them to amend the Electoral Reform Bill 2022, according to local media reports. He stated the need to review political funding, in particular financial support for parties or individuals, and prohibit them from accepting digital assets.…

The Bank of Canada is exploring scenarios for the coexistence of digital and fiat currencies

The Canadian Central Bank (CB) has deployed a quantum computer to calculate the implications of cryptocurrencies and their compatibility with the traditional financial system. The Sun became the first regulator of the G7 countries to decide to use quantum computing to model scenarios for the coexistence of digital and fiat currencies. The project is being developed by the startup Multiverse Computing, according to Decrypt. The quantum computer model used is capable of evaluating more than…

California lawmakers propose using blockchain to help the unemployed

A member of the California House of Representatives proposed using blockchain technology to prevent employment fraud. Jordan Cunningham has introduced a bill that would require the California Office of Digital Innovation (ODI) to explore the possibility of applying blockchain to employment, employment, and social security. According to the parliamentarian, this would speed up identity verification in the state unemployment insurance system, increase the efficiency of social benefits payments and their calculations, and also simplify the…