Scott, the top Republican on the Senate Banking Committee, will release his priorities for a bipartisan regulatory framework for cryptocurrency on Thursday, according to Politico.
CoinDesk
Ethereum Development Firm Flashbots Eyes Unicorn Status as it Seeks to Raise $50M: Report
Crypto venture firm Paradigm has committed to leading the investment, according to the report.
CoinDesk
Samsung Asset Management To Launch Bitcoin ETF In Hong Kong: Report
The Samsung Bitcoin Futures Active ETF will launch on Jan. 13, giving Hong Kong investors a mainstream avenue for indirect BTC price exposure.
Samsung Asset Management is launching a bitcoin exchange-traded fund (ETF) in Hong Kong.
The Samsung Bitcoin Futures Active ETF (3135:HK) seeks to obtain a performance similar to spot BTC by investing in bitcoin futures products listed on the Chicago Mercantile Exchange (CME), according to a report by Fortune Korea. Cointelegraph also reported the news earlier on Thursday.
U.S. Investigators Subpoena Hedge Funds in Binance Money-Laundering Probe: Report
Authorities have not yet brought charges against the company, which has faced intense scrutiny following competitor FTX’s collapse in November.
CoinDesk
Crypto Conglomerate DCG Being Investigated by DOJ, SEC: Report
Officials with the U.S. Department of Justice’s Eastern District of New York and the Securities and Exchange Commission are examining transfers between Digital Currency Group and Genesis, one of its subsidiaries, a report late Friday said.
CoinDesk
Cardano Enters Top 10 Most Spent Crypto In Commerce In 2022, Report Claims
Crypto payments on e-commerce platforms are booming despite market conditions, with Cardano (ADA) and Binance Coin (BNB) entering the top 10 most spend crypto. According to a report from payment processor Coingate, people spent a lot of their crypto in 2022.
The report gathered data from 2014 and determined that e-commerce shops have received 2.5 million crypto payments during this period. On average, these online shops see around 312,500 crypto payments per year.
In that sense, 2022 set a new record by recording over three times this figure, as seen in the chart below. Online merchants saw 927,294 payments with Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Cardano (ADA), and Binance Coin (BNB) during this period.
Fiji’s New Pro-Bitcoin Prime Minister Ponders Legal Tender Bill: Report
Newly elected Fiji Prime Minister Sitiveni Rabuka is pro-Bitcoin and is reportedly considering pushing a bill to adopt BTC as legal tender in the country.
Pro-Bitcoin politician Sitiveni Rabuka recently took office as the new Prime Minister of the Pacific Islands of Fiji. Now, it seems the new PM is actively considering the adoption of bitcoin as legal tender there.
While Rabuka himself hasn’t been very public about his opinions on Bitcoin thus far, Lord Fusitu’a, a noble and former member of parliament of neighboring nation Tonga, has reportedly confirmed that the Fijian politician is a bitcoin bull.
Binance Has No Debt And Assets Are Segregated, Report Says
Binance has been under intense scrutiny since it released its proof of reserves about a month ago. The crypto exchange had done so in a bid to assure users that all deposited funds were safe and that it was not going to collapse like FTX, but this had backfired spectacularly for the company. As the FUD ramped up, more than $ 6 billion was withdrawn from the exchange in a matter of days. Now, Binance has come forward to address the most pressing questions from the community.
Nigeria Might Support Bitcoin And Cryptocurrencies, New Report Shows
The cryptocurrency market and bitcoin popularity in Nigeria have been rising in recent years. Despite the ban on crypto trades by the government in 2021, Nigerians continued to engage in cryptocurrency-related activities. Most citizens became more interested in crypto to gain financial freedom.
A report released by The Punch News after interviewing the House of Representatives Committee on Capital Markets chairman Babangida Ibrahim said that the Nigerian Securities and Exchange Commission will recognize cryptocurrencies as a capital investment if an amendment to the Investment and Securities Act 2007 Bill is passed into law.
Nigeria Looking To Legalize Bitcoin Usage: Report
If passed, the reported amendments would regulate bitcoin and cryptocurrency usage in the African nation.
A local Nigerian newspaper has reported that Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Market and Institutions of Nigeria, claimed the country will soon pass a law making the usage of bitcoin and cryptocurrencies legal. The bill would amend the 2007 Investments and Securities Act and would recognize bitcoin as legal capital for investment.
Crypto Users Report Closures Of FTX-Linked Bank Accounts
Despite the FTX crypto exchange crash being more than one month in the past already, users are seemingly still suffering the effects of the implosion that goes beyond just their funds being stuck on the crypto exchange. A new development saw users of the now-bankrupt crypto exchange taking to Twitter to reveal that banks may be taking action against bank accounts linked to FTX.
Binance’s Proof-Of-Reserves Report “Makes Sense” With On-Chain Data, Says CryptoQuant
CryptoQuant says Binance’s recently released Proof-of-Reserves report “makes sense” when compared with on-chain data.
Binance’s Bitcoin Liabilities In Proof-Of-Reserves Report Are Consistent With On-Chain Data
The Proof-of-Reserves (PoR) here refers to the public proof that an exchange has backed its customers’ entire deposits with proper collateralization. Since the collapse of FTX, distrust around centralized platforms has grown among investors in the cryptocurrency market, and they have been demanding for exchanges to release PoR reports.
Bitcoin Price Pumps After Lowest CPI Report Since December 2021
Bitcoin has experienced a mini-rally after a low CPI read suggests rate hike slowing will happen soon.
The price of bitcoin ($ BTC) has jumped ~5% to nearly $ 18,000 after the most recent Consumer Price Index reading from the U.S. Bureau of Labor Statistics reflected a lower number than the 7.3% projected by economists.
At 7.1%, CPI has now reached its lowest levels since December of 2021, which was the highest reported month that year. After two years of sustained inflation as a result of the Federal Reserve’s COVID-19 stimulus, the Fed was forced to aggressively hike rates in order to prevent runaway inflation. The latest CPI print confirms their aggressive actions have had an impact, although food and energy in particular maintain high levels of inflation (10.6% and 13.1% respectively).
EU To Force Crypto Companies To Report Their Users’ Holdings To Tax Authorities
Potentially, even companies outside of Europe could be forced to disclose user holdings according to the EU.
The European Union indicated Thursday that it will make cryptocurrency companies report their European users’ holdings to tax authorities. The proposed eighth Directive on Administrative Cooperation was previously reported on by CoinDesk, and could have wide-reaching implications including forcing non-EU based companies to have to register with tax entities there.
In a statement, the EU Commissioner for tax, Paolo Gentiloni said, “Anonymity means that many crypto-asset users making significant profits fall under the radar of national tax authorities. This is not acceptable.”
FTX Downfall Probably Sparked By The Collapse Of Terra, Report Reveals
In his first court filing, new FTX CEO and bankruptcy trustee John Ray III revealed yesterday an even greater extent of the fraud and chaos behind the collapse.
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray said in the filing.
Renowned on-chain analysis firm Nansen has now produced its own report to explore the origins of the disaster. It says Bankman Fried companies were closely linked from the beginning.
New Report Shows FTX Used Customer’s Crypto Funds To Support Almeda Research
While the flames of the FTX crash burn the crypto market, people are coming up with different claims explaining why the crypto exchange’s demise. In a market driven by claims, rumors, and speculations, such reports could engineer a further crash. But, on the other hand, it may also shed light on the ongoing investigation.
The latest claim from Reuters alleged that FTX used customers’ funds to pull out Alameda Research from insolvency. The report also addressed Binance’s withdrawal from the FTX acquisition as a failed attempt to save crypto.
South African Supermarket Giant Pick n Pay Now Accepts Bitcoin Payments: Report
Pick n Pay, one of South Africa’s largest supermarket chains, will allow customers to pay using bitcoin via any Lightning Network-enabled app, according to The Times.
CoinDesk
Crypto Scam Report Shows Web3 Experienced 15 New Fraudulent Smart Contracts
Solidus Labs functions to carry out crypto operations based on the crypto-native T3 (Triple T) market integration solutions (MIS). These market solutions include threat intelligence, monitoring of transactions, and trade surveillance.
Its primary mission is to ensure the safety of crypto transactions and investments throughout all decentralized finance (DeFi) and centralized markets. Solidus Labs, situated in New York, United States, began its actions in 2017.
In the meantime, there are about 12 leading blockchains under the company’s radar to detect possible theft or fraudulence cases. The need to monitor and carry out threat surveillance in the crypto industry is necessary, considering the high possibility of scams.
First Bitcoin ETF Posts Historically Worst Performance, Report Reveals
The ProShares Bitcoin ETF, known as ” BITO“, wrote history on October 19, 2021. Some two-plus years later, BITO is once again posting historic numbers, but they don’t appear to be very encouraging.
BITO was the first exchange-traded fund in the U.S. market to track the price of BTC and marked an important step in Bitcoin’s history. BITO’s debut shattered all expectations.
The Bitcoin ETF debuted as one of the most heavily traded funds in market history, and became the second highest traded fund of all time on its first day, with more than $ 500 million in trading. Within its first week of trading, it raised more than $ 1 billion on the New York Stock Exchange.
U.K. Seeks To Regulate Bitcoin, Crypto Similar To Current Financial Instruments: Report
The bill looks to place bitcoin and digital assets under existing financial instrument law enabling existing regulatory infrastructure to build a framework.
- The Financial Services and Markets bill passes the House of Commons, heads to the House of Lords.
- Draft bill seeks to establish digital assets, such as bitcoin, as regulated financial instruments.
- Lawmakers are consulting with stakeholders and industry leaders throughout the process.
Legislators in the U.K. voted to recognize bitcoin and digital assets as regulated financial instruments earlier today, per a report from CoinDesk.
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