Category: Cryptocurrency
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Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.
Securities and Futures Commission (SFC) of Hong Kong’s director of licensing and head of the fintech division both confirmed that the regulator is taking into consideration allowing retail investors to invest directly in crypto assets. “We’ve been regulating this industry for four years… We believe that now might be a good time to seriously consider…
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EU Commissioner: “We Need to Look at Global Regulation of Crypto,” Urging the US to Develop New Crypto Rules
According to reports, the financial services commissioner of the European Commission urged American legislators to create new regulations for the cryptocurrency sector. We do require other parties to enact legislation. We must consider international crypto regulation, the commissioner said. EU Commissioner Calls on U.S. Lawmakers to Establish New Crypto Rules In an interview with the…
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Kevin O’Leary Expects Bitcoin to Go up When Stablecoin Transparency Act Passes
Shark Tank participant Kevin O’Leary, also known as Mr. Wonderful, predicts that bitcoin will increase in value once the Stablecoin Transparency Act is enacted, which could happen soon after the November midterm elections. Crypto cannot be stopped, O’Leary emphasized, adding: “You either join the wave or get lost.” ‘Regulations Come, Bitcoin Goes Up’ On…
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Younger People Are 7.5 Times More Likely to Have Cryptocurrencies in Their Portfolios, According to a Bank of America Survey of Wealthy Americans
Younger, wealthy Americans are 7.5 times more likely than investors 43 and older to have cryptocurrency in their portfolios, according to research from Bank of America. Where do the newest generation of investors see opportunities for investment growth if they lack confidence in stocks? Cryptocurrencies, which are their top option, are alternatives, the bank wrote.…
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Pow.re, a bitcoin miner, starts building a mining facility in Paraguay and buys 3,600 Microbt ASICs
Pow.re Holdings Limited, a crypto mining company, claims that the company announced it had started building two new mining facilities in Asunción, Paraguay. The new data centers will control 12 MW of hydroelectric power, and the company has also purchased 3,600 Microbt Whatsminer mining rigs, which generate about 396 PH/s of hashrate each second. Pow.re…
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Nigeria has the potential to lead the global digital economy. Yemi Osinbajo, vice president, says
Vice President Yemi Osinbajo of Nigeria claims that his nation is well-positioned to take the lead globally in the digital economy. But for that to happen, Nigeria must make the right decision and put more effort into improving its digital literacy. Nigeria Better Equipped Than 3 Decades Ago Yemi Osinbajo, the vice president of…
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Russians can still access cryptocurrency exchanges. Report Unveils New EU Sanctions Despite
Following the most recent round of EU sanctions, a number of cryptocurrency exchanges, including international platforms, did not impose any new limitations on Russian users, according to Russian crypto media. In an effort to put more pressure on Russia in the midst of an intensifying conflict in Ukraine, the latest European sanctions target a variety…
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The CEO of Ripple anticipates a response to the SEC’s XRP lawsuit in the first half of 2023.
Brad Garlinghouse, CEO of Ripple, predicts that “we’ll have an answer in the first half of next year” regarding the SEC lawsuit involving xrp. The executive emphasized that while xrp is not a security, the case “is about the entire industry” and “Everyone acknowledges how important this is.” At a DC Fintech Week event, Ripple…
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US Treasury Charges Bittrex of violating sanctions, and the cryptocurrency exchange agrees to make a deal with the regulator
The Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) of the U.S. Treasury department announced on October 11 that charges against the cryptocurrency exchange Bittrex had been resolved. Between March 2014 and December 2017, the cryptocurrency exchange was charged with breaking sanctions and failing to “implement effective sanctions compliance controls.”…