TokenPost reporter
Mark Jason Alcala
Stories by Mark Jason Alcala
- Dozens of crypto exchanges in South Korea could suspend trading this week
To continue operating in the country, crypto exchanges must secure approval and be registered with the Financial Intelligence Unit (FIU), which operates under the Financial Services Commission (FSC).
· Regulation
- South Korea’s crypto tax code will be implemented next year, says finance minister
Minister Hong Nam-ki expressed his opposition to the proposed postponement and wants the crypto tax code to take into effect as originally planned.
· Regulation
- Coinbase plans to introduce crypto futures and derivatives trading
According to the company, the addition of futures and derivatives will broaden its offerings and help grow the crypto market.
· Business
- Foreign Bitcoin investors would be exempt from taxes on BTC profits in El Salvador
El Salvador will reportedly exempt foreign investors from paying any income tax as well as capital gains tax on Bitcoin earnings to encourage foreign investments.
· Regulation
- MicroStrategy’s Bitcoin portfolio soars to 114,042 BTC as it adds another 5,050 coins to its stash
The business intelligence firm just added more than 5,000 BTCs staying true to its previous announcement that it will continue to add to its crypto holdings as part of its digital asset strategy.
· Business
- Interest in Bitcoin and other cryptos remain high among retail and institutional investors
Despite their volatility, a new study revealed that investors still prefer to put their money into cryptos such as Bitcoin, Ethereum, and Litecoin (LTC) instead of investing them in traditional assets like gold.
· Insights & Views
- Crypto bill legalizing Bitcoin gets approval from Ukraine Parliament
The crypto bill, which was first set into motion in 2020, is now being forwarded to President Volodymyr Zelenskyy for signing.
· Regulation
- India should accept crypto as an asset class, says former RBI exec
Former RBI Deputy Governor Rama Subramaniam Gandhi acknowledged that crypto is anonymous and independent in nature by design but opined that every society can make its own rules as far as taxation and traceability are…
· Regulation
- $4.2B of lost Bitcoin due to forgotten crypto wallet passwords can still be recovered
Cryptocurrency data firm Chainalysis estimates that 20 percent of the existing 18.5 million Bitcoin or around 3.7 million BTCs appear to be lost due to forgotten passwords.
· Insights & Views
- Franklin Templeton prepares entry into the Bitcoin, Ethereum markets as it hires crypto experts
The multinational investment company recently posted two crypto-focused job openings, which specifically mentioned Bitcoin (BTC) and Ether (ETH).
· Business
- Crypto promoter pleads guilty to fraud charges for his role in a $2B Ponzi scheme
The BitConnect scheme, described as a “textbook Ponzi scheme,” defrauded over $2 billion from investors globally.
· Regulation
- Ethereum could continue to outperform Bitcoin and is poised for another bull run
Since Ether breached $3,400 on August 31, ETH continued to soar and, at the time of writing, the crypto traded at $3,762.51 posting a year-to-date return of 410.61 percent.
· Insights & Views
- Crypto exchange Coinbase accidentally sends 2FA reset notices creating panic among users
The faux pas caused panic among thousands of the crypto platform's users who received the notices.
· Business
- Crypto exchange Bittrex Global predicts Dubai and UAE to dominate Middle East’s growing digital assets market
As the friendliest jurisdictions for crypto where local regulators are receptive to blockchain-related technologies, he added that the United Arab Emirates (UAE) and Dubai would likely benefit from the expected expans…
· Insights & Views
- Vast Bank allows clients to trade in Bitcoin, Ethereum, other cryptos via mobile app
The bank’s mobile app supports seven cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Cardano (ADA), Orchid, and Algorand.
· Business
- Facebook mulls adding NFT support to its crypto wallet Novi
Facebook is well-positioned to explore the NFT industry as the new crypto wallet can also be used to hold non-fungible tokens.
· Technology
- 40% of Britons support the introduction of pro cryptocurrency legislation by the government
Twenty-four percent of the respondents believe that issuing a CBDC would likely be beneficial to the UK while 30 percent believe that it will likely be more harmful to the country.
· Insights & Views
- MicroStrategy adds over 3.9K of Bitcoin worth $177 million to its BTC holdings
With the additional BTC acquisition, the company‘s Bitcoin holdings increased to approximately 108,992 coins as of August 23, 2021.
· Business
- Businesses won’t be forced to accept Bitcoin if they don’t want to, says El Salvador President
El Salvador President Nayib Bukele confirmed in a Twitter post that accepting Bitcoin is not mandatory.
· Regulation
- Bitcoin mining firm Riot Blockchain posts record quarterly net income for Q2 2021
Crypto mining revenues also spiked by 1,540 percent to $31.5 million for the second quarter this year.
· Business
- Customers Bank plans to offer banking and blockchain-based payments to crypto firms by October
The West Reading, Pennsylvania-based bank plans to offer basic accounts to crypto firms as well as a blockchain-based platform that allows them to send dollars to each other in real-time.
· Business
- PayPal users in the UK can now buy, sell, and hold Bitcoin, Ethereum, and other cryptos
With its success in the U.S., PayPal plans to expand its crypto service to other countries aside from the U.K.
· Business
- Bitcoin up 70% in a month as BTC soars above $50K for the first time since May
BTC’s current price represents a 70 percent increase in just over a month when the crypto traded at $29,608.60 on July 21, 2021.
· Investing
- Bitcoin miner Compass transfers funds to crypto-friendly bank Signature after Chase froze its accounts
The accounts contained around 7 percent of the Bitcoin mining firm’s cash.
· Business
- UK’s Lloyds prepares entry into the crypto space and is now scouting for a digital currency expert
One of the responsibilities of the digital currency manager is to develop payments use cases and initiate business or investments orientated around the use of cryptos.
· Business
- Coinbase’s crypto winter survival plan involves a $4 billion cash reserve
The crypto exchange might use its cash stockpile to fund new product rollouts as a way to diversify its revenue sources and lessen its reliance on transaction fees.
· Business
- Ethereum to overtake Bitcoin in five years, says deVere CEO
Nigel Green said that Ethereum’s ascent to the top of the cryptoverse seems unstoppable.
· Insights & Views
- UnionBank to pilot crypto custody service, enters into partnership with Hex Trust
The bank’s new crypto custody service is aimed at the growing institutional and retail interest for digital assets in the country.
· Regulation
- UK police recover $22M in crypto including $9.5M of Ethereum from online scammers
Authorities arrested two persons allegedly involved in the scam, which led to the discovery of the storage device containing Ether.
· Regulation
- Spain’s CNMV warns crypto exchanges Huobi, Bybit, and 10 other entities not authorized to provide investment services
Ghe National Securities Market Commission (CNMV) issued a warning to the public on 12 entities including crypto exchanges Huobi and Bybit, saying that the entities are not registered with the regulator.
· Regulation
- Bitcoin mining firm Bitfarms’ Q2 revenue rose by 398% as it increases its market share rises to more than 1.5%
Bitfarms expects an eight-fold increase in its Bitcoin mining capacity by 2022.
· Business
- Walmart looking for a crypto expert for its digital currency strategy and product roadmap
The company also prefers someone with an entrepreneurial mindset and one who possesses significant functional knowledge of the cryptocurrency ecosystem and players involved.
· Business
- South Korea’s Kakao sets up two entities in Singapore to accelerate the global expansion of its blockchain business
The Kakao Group has allocated $300 million for the global expansion of the Klayton platform.
· Business
- Indian consumers can now earn BTC while spending with GoSats’ Bitcoin cashback rewards card
The Bitcoin rewards company partnered with the National Payments Corporation of India (NPCI) to launch the GoSats reward card.
· Business
- Crypto trader sees Bitcoin above $100K and Ethereum above $10K within 6-12 months
Scott Melker believes that the approval of an exchange-traded fund would be the biggest catalyst that could propel Bitcoin and Ether to new heights.
· Insights & Views
- Crypto past the early adoption stage and has gone mainstream, says CEO
The number of crypto users worldwide has now surged to around 300 million people this year.
· Insights & Views
- Top countries with the highest crypto usage
A new study by Statista revealed that five countries are ahead of the rest when it comes to crypto usage.
· Insights & Views
- Canadian crypto mining firm Hut 8 expects to mine up to 22 Bitcoins per day in Q4 2021
The company has a total Bitcoin balance of 3,824 valued at around $166 million as of June 30.
· Business
- Bitcoin family secures their crypto in cold storage scattered across 4 continents
The family's crypto hardware wallets are not stored in a vault below ground but are rather kept in a variety of locations that include rental apartments, self-storage sites, and even in friends’ homes.
· Technology
- Hackers return $260M of the $613M cryptos stolen from Poly Network
The hackers reportedly used “a vulnerability between contract calls” to pull off the largest crypto heist ever.
· Technology