After the arrest of one of the founders of OKEx and the suspension of withdrawals, rumors emerged that the exchange was storing users’ assets in a cold, one-signature wallet. However, the company denies this. The press service of the OKEx exchange told the industrial media that the information published on the Jinse Caijing website regarding the storage of cryptoassets of exchange users in a cold wallet with one signature is incorrect. Recall that the founder

Cryptocurrency exchange Huobi has added the ability to directly purchase major cryptocurrencies using Visa and Mastercard without intermediaries. Ciara Sun, Vice President of International Business Development at Huobi Group, announced that the service is being provided by Huobi Technology, the Gibraltar-based regulated arm of Huobi Global. Previously, users of the site already had the opportunity to purchase cryptocurrencies using these credit and debit cards, but when making such transactions, Huobi customers were redirected to third-party

Audit firm OpenZeppelin has unveiled the Defender open source platform for the automated creation of Decentralized Finance (DeFi) applications. OpenZeppelin CEO Demian Brener said the Defender framework allows for the secure automation of smart contracts. This significantly speeds up the creation of applications, which usually takes several months for developers. Defender supports level 1 and 2 smart contracts, as well as sidechains. The platform is already being tested by decentralized finance projects Aave, Compound Labs,

According to the founder of Alibaba, digital currencies will help create a new global financial system. Jack Ma also criticized global banking regulation. Chinese billionaire Jack Ma said digital currencies could play an important role in the new global financial system. The founder of China’s largest tech company, Alibaba, expressed his stance at the Bund Summit in Shanghai. “Digital currency can create value and we need to think about how to create a new type

The Swiss National Bank (SNB) and the Bank for International Settlements (BIS) plan to start testing the state digital currency by the end of this year. This was announced by Benoît Cœuré, Chairman of the BIS Innovation Center, at a conference in Shanghai. He said the Proof-of-Concept (PoC) will allow researchers to experiment with government digital currency, use it for retail payments, as well as study interactions with existing payment systems and monitor compliance with

The Federal Reserve and the Financial Crimes Enforcement Network (FinCEN) have proposed lowering the threshold for registering remittances outside the United States, including for cryptocurrency transactions. According to the document, the US Federal Reserve and FinCEN are proposing to change the thresholds at which banks must collect and store information about remittances. Regulators are proposing to decrease this value from $ 3,000 to $ 250 for any transfers outside the United States. The proposal will

The Internal Revenue Service (IRS) has made changes to the taxpayer reporting form. Coins received during hard forks are taxed, and transfers between wallets do not need to be disclosed. In the latest version of the Personal Income Tax Form 1040, the IRS has clarified which cryptoassets and transactions need to be disclosed. According to the new principles, if a user only owned a cryptocurrency, but did not trade it during 2020, then he can

According to the latest report, the MESS system launched by ETC Labs to protect Ethereum Classic against “51%” attacks may not be as effective or secure as other alternative solutions. This summer, the ETC blockchain fell victim to three 51% attacks in a month. In mid-October, ETC Labs implemented MESS (Modified Exponential Estimation of Subjectivity) to reduce the likelihood of future attacks by 51%. However, according to a report by IOHK and ETC Cooperative, “The

The NAC Foundation denies that AML BitCoin is a security and accuses the US Securities and Exchange Commission (SEC) of fraudulent conduct in a legal proceeding. Earlier, the SEC accused the NAC Foundation, its CEO Marcus Andrade and political lobbyist Jack Abramoff of organizing an unregistered sale of AML BitCoin cryptoassets in the amount of $ 5.6 million, fraud and misleading investors. Abramoff agreed to pay a $ 50,000 fine, as well as $ 5,501

Bitcoin has surpassed $ 12,800, hitting a high since July 2019 amid growing support from institutional investors and large companies. Today’s leap in the rate was mainly due to the announcement of the PayPal payment system to add support for bitcoin and other cryptocurrencies. Quantum Economics analyst Jason Deane believes that reaching this mark is important for Bitcoin, after which it can renew highs and continue to grow. https://bits.media/upload/medialibrary/682/211020_Bitcoin_price.png Institutional investors are helping the development