Category Archives: Cryptocurrency News

American pension funds will invest $ 50 million in bitcoin

Two pension funds from the US state of Virginia have submitted applications to the regulator for approval of investments in the main fund Parataxis Capital Management, which directly buys cryptocurrencies. The Fairfax Police Pension Fund and the Fairfax Civil Servants Pension Fund have previously invested in the cryptocurrency industry through Morgan Creek funds. However, most of the fund’s funds are invested in companies operating in the blockchain and cryptocurrency industries. The Parataxis Fund, on the…

Financial Times: $ 2.6 Billion Crypto Assets Will Be Destroyed Due to South Korean Exchanges Closure

According to industry experts, the closure of most of the small exchanges in South Korea due to the new regulation could lead to the destruction of forty-two “Kimchi cryptoassets.” According to the Financial Times, $ 2.6 billion worth of crypto assets could be destroyed after the September 24 deadline for registering cryptocurrency exchanges in South Korea. On March 25, 2021, amendments to the Financial Institutions Reporting Act (FTRA) came into force, which require exchanges to…

CrossTower Cryptocurrency Exchange Branch Opened in India

CrossTower India, a cryptocurrency exchange for institutional investors, has opened in Mumbai. The company plans to use its branch as a springboard for expansion into neighboring regions. According to Kapil Rathi, co-founder and CEO of CrossTower, India is ranked 11th in the world for the distribution of crypto assets to the population and plays a key role in the region. According to Chainalysis, over the past year, the cryptocurrency market in India has grown more…

Robinhood launched a service of regular investments in cryptocurrencies at the “average price”

The Robinhood platform has introduced a new feature for regular investments in cryptocurrencies based on the “average dollar value”. According to Robinhood, regular investments using the company’s new financial product – the dollar average value (DCA) – will help the company’s clients get a more predictable return on investments, reducing the risks of cryptocurrency volatility. The idea behind price averaging is that “you won’t earn as much as you could, but you will not lose…

Australian Senate Committee Hears Crypto Firms Complaints Banking Denials

Cryptocurrency companies have appealed to a special committee of the Australian Senate with complaints about denial of service by banks without explaining the reasons. According to The Sydney Morning Herald, two cryptocurrency exchanges – Aus Merchant and Bitcoin Babe – have repeatedly denied banking services without explanation from financial institutions. Their leaders spoke at a meeting of the ad hoc committee of the Australian upper house of parliament, “Australia as a technology and financial center”,…

SEC accused organizers of Rivetz of conducting unregistered ICO

The US Securities and Exchange Commission continues its “crusade” against cryptocurrency startups. This time, the SEC filed a lawsuit against the organizers of the Rivetz company for an unregistered ICO. The company Rivetz, which was developing a solution for identifying users on the blockchain, carried out a sale of RvT tokens in 2017 to fund its activities. Between July and September 2017, the company and founder Steven Sprague sold $ 18 million worth of RvT…

American Cryptocurrency Exchanges Recorded Failures During Market Drop

Yesterday, the rate of bitcoin and the largest altcoins fell significantly. Against this background, the activity of traders has increased, and the largest American cryptocurrency exchanges have reported failures in the work of the platforms. Cryptocurrency exchange Coinbase has posted a “slowdown” warning on its website. Representatives of the exchange later reported on the social network Twitter about “an unexpected increase in network traffic and market activity.” “We are aware of delays and cancellations of…

SEC may sue Coinbase

The SEC has warned cryptocurrency exchange Coinbase of a possible legal action if the company launches a high-yield savings product for the USDC stablecoin. Coinbase Chief Legal Officer Paul Grewal posted the warning he received from the US Securities and Exchange Commission (SEC) on his blog. In the article, Greval described how the company had been in talks with the SEC to launch the Lend product for six months, but last Wednesday the agency suddenly…

Panamanian Congressman presented a bill on the legalization of cryptocurrencies

A new bill, submitted to the Panama National Assembly, regulates the use of cryptocurrencies in the country, including the use as a means of payment. Under the new bill, proposed by Congressman Gabriel Silva of Panama, Panama will become a nation that supports the development of the digital economy, blockchain, cryptoassets and the Internet. According to the document, individuals in Panama or legal entities established in the country are free to use cryptocurrency as a…

Visa plans to introduce cryptocurrencies into the Brazilian banking system

Payment system Visa announced cooperation with Brazilian banks. The company plans to provide cryptocurrency services to Brazilian citizens and make payments in BTC. This is reported by the Brazilian media. Vice President of Business Development for Visa Brazil, Eduardo Abreu, said the payment giant has partnered with several cryptocurrency firms in Brazil to integrate cryptocurrencies into the country’s traditional banking system and bring cryptocurrency cards to market. Banks will be able to connect to Visa’s…