Category Archives: Cryptocurrency News

Blockchain Australia: “blockchain and cryptocurrencies cannot be compared to the Wild West”

The industry organization Blockchain Australia has accused the Australian government of inaction and reluctance to develop regulations to regulate blockchain in the country. Blockchain Australia CEO Steve Vallas chided the local government for considering the cryptocurrency industry a “hotbed of scammers and attackers” rather than interacting with target groups to develop effective regulation. Wallas said this in a speech to the Australian Senate Special Committee. In July, Blockchain Australia approached the Australian Senate Technology and…

Poloniex will pay SEC more than $ 10 million for trading securities without registration

According to the SEC, the Poloniex exchange violated the securities law. Poloniex agreed with the submission to cease illegal actions and pay the fine. The Securities and Exchange Commission order states that from July 2017 to November 2019, Poloniex used a trading platform that was not registered and performed digital asset exchange transactions, including digital assets that could be considered “investment contracts” and therefore securities. The criterion for digital assets that can be classified as…

US Investors Lose Hope To Launch Crypto ETFs

Companies that have filed applications with the US Securities and Exchange Commission (SEC) to launch cryptocurrency ETFs are disappointed with the recent speech by SEC Chairman Gary Gensler. Previously, many firms awaiting approval for the launch of exchange-traded funds for bitcoin hoped that with the arrival of Gensler as chairman of the SEC, the department would give the green light to this investment product. However, after a recent talk by Gensler at the Aspen Security…

DeFi Money Market Platform closed due to SEC allegations

The US Securities and Exchange Commission (SEC) accused the DeFi Money Market project of an unregistered sale of $ 30 million in securities and of providing investors with false information. According to the SEC, two Florida residents, Gregory Keough and Derek Acree, and their firm Blockchain Credit Partners, were selling unregistered securities through the DeFi Money Market between February 2020 and February 2021. To do this, they used two types of tokens: mTokens, which could…

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…

Uphold Exchange will issue a Mastercard debit card with cashback in XRP

Uphold trading platform, together with GlobaliD, a provider of digital identity solutions, will issue a Mastercard debit card with up to 5% XRP cashback. As reported in an article on the GlobaliD blog, with this card, users will be able to pay with fiat or digital currency and receive cashback in XRP. They will have the option to spend the XRP they receive right away, or continue storing them in their digital wallets if users…

London hard fork activated on Ethereum mainnet

On August 5, at 15:33 Moscow time, the Ethereum network underwent a planned London update on block 12,965,000. After its activation, the network burns an average of 4.2 ETH (more than $ 10,500) every minute. The London update includes a proposal to improve the current Ethereum network, EIP-1559, which aims to burn off a portion of the Ether when paying transaction fees. The goal of EIP-1559 is to “balance” the cost of transactions on the…

Zcash founder invited the community to move to PoS consensus

Zcash founder Zuko Wilcox encouraged the community to abandon the Proof-of-Work (PoW) consensus method and switch to Proof-of-Stake (PoS). Since its inception, the Zcash blockchain has operated on a Proof of Work (PoW) consensus. Initially, the ZEC cryptocurrency could be mined on graphics processing units (GPUs). In 2018, Bitmain launched specialized ASIC miners for Zcash mining, after which GPU mining became obsolete. Wilcox now sees more benefits in Proof of Stake (PoS) consensus. Wilcox stated…

Stronghold Digital Mining will double mining capacity to 165 MW

Mining company Stronghold Digital Mining intends to increase its capacity to 165 MW through the acquisition of the Panther Creek power plant in Pennsylvania. Stronghold Digital Mining has signed an agreement to purchase the Panther Creek Power Plant, located on a 33-acre site in Carbon County, Pennsylvania. The power plant has a generating capacity of 80 MW and upon receiving regulatory approval, the deal will double Stronghold’s current capacity to 165 MW. Stronghold recently raised…

Independent Reserve Exchange Obtained a License in Singapore

The Australian Exchange Independent Reserve has been approved by the Monetary Authority of Singapore (MAS) to operate as a virtual asset service provider. The Independent Reserve said it has received MAS approval under the Payment Services Act (PSA). It provides clear regulatory rules for cryptocurrency firms and exchanges that intend to legally operate in Singapore. The law came into force in January 2020. According to the PSA, digital asset trading platforms are required to protect…