The head of development at Coinfirm is confident that the development of AML and KYC has made it difficult to use cryptocurrencies for illegal transactions and this has attracted new investors to the industry. Durgham Mushtaha, business development manager at Coinfirm, an analytics company, said that unlike fiat currency, transactions with crypto assets are much easier to track using anti-money laundering (AML) tools. He added that the introduction of “Know Your Customer” (KYC) procedures for

The United Nations Development Authority (UNCTAD) believes that the risks and costs that cryptocurrencies incur outweigh the benefits of using them, and therefore are not suitable for banks. UNCTAD called on world governments to impose additional taxes on cryptocurrency transactions and restrictions on advertising of digital assets to increase state revenues and ensure financial stability in developing countries. A report published by UNCTAD notes that the growing use of cryptocurrencies for domestic payments and the

American billionaire and cryptocurrency enthusiast Mark Cuban believes that investing in the purchase of real estate in the metaverses is an extremely unfortunate and even “stupid” idea. Interestingly, Mark Cuban himself is quite positive about NFTs and the metaverses. He has invested in Yuga Labs, which owns popular NFT collections, including the Bored Apes Yacht Club. However, according to him, if investing in real estate is quite justified in real life, since the amount of

The Reserve Bank of Australia, together with the Digital Finance Corporate Research Center, is launching a pilot project to explore practical use cases for CBDC. Previously, the Reserve Bank of Australia (RBA) conducted preliminary studies on the possible technical design of the state cryptocurrency (CBDC), in particular, studied the potential use of distributed ledger technology in the financial sector. At the moment, the question of applied options for using the digital currency of the Central

Computer security experts at Trend Micro, an antivirus company, believe that the metaverses will be breeding grounds for crime in the first few years of their existence. The Trend Micro report notes that the metaverses have growing vulnerabilities that could manifest themselves over the next five years. Among the top threats, the company cited metaverse regulation issues, NFT security issues, the development of a dark web-like “dark metaverse”, financial fraud, privacy issues, physical threats, and

Bloomberg Intelligence senior commodities strategist believes that according to the technical analysis of the market, leading cryptocurrencies are selling below their real value. Mike McGlone drew on a number of observations but focused on a particular indicator. “The benchmark cryptocurrency hit the lowest level compared to the 100-week moving average in July. This situation represents an extreme discount on a sustained bull trend in the market.” The analyst emphasized the importance of stocks, which have

The US Congressman is concerned about the impact that the cryptocurrency industry could have on the country’s banking system. Elizabeth Warren has launched a new anti-cryptocurrency initiative by proposing a bill that would ban banks from providing services related to digital assets. Congressman proposes to reduce Wall Street’s involvement in crypto activities. To do this, Warren is urging senators to sign a letter to the Office of the Comptroller of the Currency (OCC) asking them

The Decentraland metauniverse, together with the Transak payment service, offered the owners of virtual land to host crypto ATMs to increase the growth of cryptocurrency transactions. Payment platform Transak announced on Twitter that it has developed a crypto ATM that exchanges digital assets for fiat currencies and is capable of being integrated into the Decentraland metaverse. “The Transak ATM is the world’s first fiat-to-cryptocurrency exchange terminal designed to work in Decentraland. Users will be able

The main European financial regulator compared the digital currencies of the Central Bank with bitcoin, saying that the calculations in the latter are too complicated and costly. The European Central Bank (ECB) has published the results of its latest study, according to which a central bank digital currency (CBDC) should be much more efficient in cross-border payments than banking service providers, bitcoin and any digital stablecoins. The study is titled Towards the Holy Grail of

One of the largest US brokers announced the launch of an exchange-traded fund that will directly invest in companies wishing to work with cryptocurrencies. A subsidiary of The Charles Schwab Corporation, Schwab Asset Management has announced the launch of its first exchange-traded crypto fund. The new product is called the Schwab Crypto Thematic ETF (NYSE Arca: STCE). The first day of trading is expected to take place on August 4th. The fund is designed to