Developing economies are more affected by issues related to remittances and inflation, BitMEX’s CEO said. Countries in the developing world will soon follow in the steps of El Salvador and make Bitcoin (BTC) legal tender, BitMEX CEO Alexander Höptner recently predicted.In a Wednesday blog post, Höptner expressed support for El Salvador adopting Bitcoin as legal tender… More
“I just want my coins back. I’m tired of how long and drawn out it is,” said one user claiming to be one of the 24,000 Mt. Gox creditors. Creditors from the now-defunct crypto exchange Mt. Gox have until Friday Japan time to vote on a rehabilitation plan that could pay back millions in lost… More
Axie Infinity’s price surged to a record high above $118 following the release of a huge airdrop to early supporters and the launch of staking for AXS token. Airdrops have become the cryptocurrency ecosystem’s equivalent of stimulus checks over the past couple of years and further proof of this can be evidenced from popular protocols… More
Bitcoin price is down but crypto investors still have a plethora of yield opportunities thanks to DeFi. The growth of the decentralized finance (DeFi) sector has been a recurrent headline throughout 2021 and to date, hundreds of billions of dollars in crypto assets are locked on protocols across numerous blockchain networks and earning a yield… More
REN, CELR and CVC ignore the market’s bearish reaction to China’s new crypto ban by posting double-digit gains. The bullish momentum that had been growing across the cryptocurrency ecosystem over the past few days came to a screeching halt on Sept. 24 as news that China had banned cryptocurrency transactions made the rounds on social… More
Unlike Russia, Ukraine has passed laws that will ease the adoption of cryptocurrencies within the country. The legal status of cryptocurrencies remains a mixed bag of regulatory positions, depending on the jurisdiction being considered. While some countries move toward blanket prohibitions or stringent regulations, others elect to go with a more open approach to crypto.For… More
The Chinese central bank is setting up a “coordination mechanism” with state agencies to continue battling crypto. The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.The People’s Bank of China (PBoC) officially announced on Friday a set of… More
Kraken’s Marco Santori points to the adversarial stance taken by some crypto firms toward regulators. Amid a fraught period for some high-profile United States crypto firms and financial regulators, Kraken chief legal officer Marco Santori is calling for a dose of pragmatism going forward.Speaking on Bloomberg’s QuickTake Stock broadcast on Thursday, Santori told viewers, “You’re living in… More
Binance users in Australia have 90 days to close their positions for futures, options and leveraged tokens. Binance, the world’s largest cryptocurrency exchange by trading volume, continues limiting its services amid the ongoing global regulatory scrutiny, announcing new trading restrictions in Australia.Existing Binance users in Australia will have 90 days to reduce and close their… More
The exchange was previously known as BTC-e, though its name was changed to WEX following legal difficulties in 2017. BBC Russia has reported that Dmitry Vasiliev, the former chief of Russian cryptocurrency exchange Wex, has been arrested in Warsaw, Poland.Wex, which was previously known as BTC-e, was a well-known “dark” exchange in the early days… More
Amid the looming regulatory deadline in South Korea, a major crypto exchange is closing up shop in the country. Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline.The exchange officially announced on Friday that it will discontinue Korean language support from… More
South Korean crypto exchange Gopax has told users if it can’t resolve its banking difficulties before a looming regulatory deadline, it will need to shut down. South Korean crypto exchange Gopax, which is backed by Digital Currency Group, is facing potential closure ahead of the country’s fast-approaching deadline for platforms to submit their requests for… More
Indian entrepreneurs believe crypto tax laws are foundational to mainstream crypto acceptance by governments. As the Income Tax Department of India reportedly considers taxing crypto traders and crypto exchanges soon, experts believe investors should rest assured.According to ET Now’s report, the tax department, which operates under India’s Ministry of Finance, has signaled interest to tax… More
Failure to meet South Korean regulators’ new requirements is expected to wipe out tens of crypto exchange operators. The deadline for South Korean crypto exchanges to meet new compliance requirements is looming fast, with all operators expected to submit requests for an official license with the Financial Services Commission (FSC) no later than Sept. 24.Industry… More
CrossTower is betting on the growing crypto market in India despite uncertainty over the legal status of Bitcoin in the country. United States-based cryptocurrency exchange CrossTower is expanding operations to India despite the ongoing legal uncertainty over local crypto regulation.CrossTower has set up a local division in India and launched a cryptocurrency trading platform to… More
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