Category Archives: Cryptocurrency News

Chinese State Associations Propose Tighter NFT Regulation

Three Chinese government associations have come forward with a proposal to tighten regulation of non-fungible tokens to prevent the risks of illegal financial activities. The National Internet Finance Association of China (NIFA), the China Banking Association (CBA), and the China Securities Association (SAC) have launched a joint initiative to tighten controls on NFTs. They noted that in recent years, the Chinese NFT market has begun to develop very rapidly. On the one hand, collectible tokens…

Virgil Griffith sentenced to 5 years in prison

Former Ethereum developer Virgil Griffith has been sentenced to 63 months in prison and fined $100,000 for holding a training presentation in North Korea. In 2019, Virgil Griffith attended a conference in North Korea where he gave a presentation on cryptocurrencies and blockchain. Upon his return to the US, Griffith was arrested and taken into custody. He was charged with violating the Emergency Economic Action Act (IEEPA) and could receive 20 years in prison. Virgil…

KuCoin: More than a third of Nigerian adults trade cryptocurrencies

According to a study by cryptocurrency exchange KuCoin, 35% of Nigerians between the ages of 18 and 60 have traded or owned cryptocurrencies in the last six months. Analysts of the company in their report Into the Cryptoverse Report note that a total of 33.4 million Nigerians dealt with digital assets. At the same time, more than half of them (52% or 17.36 million) invested more than half of their savings in crypto assets. Cryptocurrencies…

The Philippine province of Bataan intends to become the center of blockchain development

The Bataan Freeport Area Authority (FAB) plans to make the province an offshore financial center for the development of the latest technologies, including blockchain. Through the passage of Republican Law No. 11659, FAB will be able to register and issue licenses to commercial organizations working in the field of artificial intelligence (AI), cybersecurity, virtual reality, Internet of Things (IoT), and smart city construction. The agency will also oversee the activities of companies related to blockchain…

Binance received a license to operate in Abu Dhabi

The Binance trading platform continues its expansion into the Middle East. The company has obtained permission to operate in the capital region of the United Arab Emirates. Binance, the world’s largest cryptocurrency exchange in terms of trading volume, has received a license to operate in Abu Dhabi. This is the third such document for Binance from regulators in the Middle East, after Bahrain and Dubai. The Abu Dhabi Global Market (ADGM) approval will allow Binance…

Bahraini Investcorp launched an international institutional blockchain fund

One of the largest investment companies in the Middle East has announced the opening of a fund to support blockchain companies. Bahrain’s second largest investment company, Investcorp Holdings, has launched its first global institutional fund, eLydian Lion. The company is going to distribute the fund’s funds among blockchain startups. Now the company is trying to attract investors to raise funds. The fund will exist as an independent legal entity. Investcorp said that the new fund…

SEC Approves Teucrium’s Launch of Bitcoin Futures ETF

The US Securities and Exchange Commission (SEC) has granted Teucrium permission to launch an ETF for Bitcoin futures on the NYSE Arca exchange. The SEC has released a statement to this effect. Teucrium and NYSE Arca filed with the SEC under the Securities Exchange Act of 1934 on Form 19b-4. While the already approved futures ETFs of ProShares, Valkyrie and VanEck fell under the Investment Company Act of 1940. The regulator’s approval of the nation’s…

In Honduras, the recognition of bitcoin as a means of payment was limited to one island

The free economic zone (FEZ) of Honduras Próspera ZEDE intends to attract international investment by issuing bonds for bitcoins. Próspera ZEDE, located on the island of Roatan in the Caribbean, has announced that it accepts cryptocurrencies as a means of payment. From now on, local governments and international companies that are residents of the FEZ can issue bonds based on bitcoin under the jurisdiction of Próspera ZEDE in accordance with international KYC and AML standards.…

FTX.US exchange stopped listing of some crypto assets

The American division of the FTX cryptocurrency exchange – FTX.US – has limited the listing of crypto assets due to regulatory uncertainty. FTX.US CEO Brett Harrison said on The Decrypt Daily podcast that the company is currently not sure what limits will be drawn by regulators in terms of trading in certain crypto assets, whether they will be allowed or whether exchanges will be required to list only certain cryptocurrencies that they do not consider…

Terraform Labs acquired AVAX for $200 million

Terraform Labs, behind the Terra project, bought $200 million worth of AVAX coins to strengthen its own stablecoin. According to a Twitter post, Terraform Labs has swapped its LUNA coins for $100 million worth of AVAX. In addition, the Luna Foundation, a non-profit organization authorized to create reserves for the algorithmic stablecoin UST, used its assets to buy AVAX for another $100 million. In this way, the company wants to strengthen its own stablecoin, which…