TokenPost reporter
Mark Jason Alcala
Stories by Mark Jason Alcala
- Bitcoin mining firm Bitfarms projects a 50% monthly production increase for July to 400 BTC
The closure of the mining farms in China has benefited the firm, allowing it to double its market share.
· Business
- Indian bank bars customers from investing in crypto overseas using RBI’s remittance system
ICICI Bank, the largest private sector bank in the country, updated its remittance form requiring clients to declare that they will not use foreign remittances to buy digital currencies abroad.
· Regulation
- Australians will soon be able to directly pay in Bitcoin (BTC), Ether (ETH), BCH, LTC, and EXP using a Visa debit card
Australian crypto holders will soon be able to directly pay using Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and EXP in physical stores with Visa’s approval of a local payment startup allowing it …
· Business
- Former CEO of Bitcoin (BTC) mining firms says crackdown on crypto is good for the industry
While investors are worried over regulatory scrutiny, Wu Jihan is optimistic that it would end up helping the crypto industry in the long run.
· Regulation
- Foreign crypto exchanges subject to AML compliance says South Korea’s FSC
Financial Services Commission (FSC) Chairman Eun Sung-soo said that foreign exchanges that deal in Korean won must also comply with the country’s anti-money laundering requirements.
· Regulation
- Compute North to increase Bitcoin (BTC) collocation mining capacity by 1.2 GW
U.S. firm Compute North recently revealed plans to increase its Bitcoin mining colocation capacity by more than 10-fold over the next 12 months.
· Business
- Siam Commercial Bank’s venture capital arm invests in decentralized finance (DeFi)
SCB 10X believes that DeFi firms could work hand in hand with their traditional counterparts in the future.
· Insights & Views
- Crypto mining firm Hive purchases 3,019 Bitcoin (BTC) miners to increase its hashrate by 46%
The company expects that the new machines will generate another US$80,000 in daily income.
· Technology
- UK’s crackdown on crypto exchange Binance benefits rivals Bitstamp, Gemini, and Kraken
Rival crypto exchanges reported a surge in new customers after FCA issued its warning to Binance.
· Regulation
- 101.38-carat diamond sells for $12.3M in crypto, becomes most expensive piece of jewelry sold using cryptocurrency
Sotheby's said that it was the most expensive physical object ever publicly offered for purchase with crypto.
· Business
- Plan B Passport helps crypto investors minimize their Bitcoin (BTC) taxes
Plan B Passport can assist customers to get passports from Antigua and Barbuda, Dominica, Grenada, Portugal, Saint Kitts and Nevis, Saint Lucia, and Vanuatu.
· Business
- SelfWealth to add Bitcoin (BTC), Ether (ETH), other cryptos on its platform
Australian online broker SelfWealth plans to initially support 10 cryptos, which will include Bitcoin (BTC) and Ether (ETH), on its platform by the end of the year.
· Business
- U.S. crypto investors take the lead as bearish sentiment grips Asian markets amid China’s crackdown
Novogratz sees Bitcoin (BTC) consolidating between $30K and $35K.
· Insights & Views
- Crypto usage in Turkey rises 11-fold to 7.7%, says Paribu survey
Bitcoin, the largest crypto by market cap, remains the most preferred crypto in Turkey with 7 out of 10 crypto traders say that they trade in BTC.
· Insights & Views
- Young Koreans increase their crypto, stocks, real estate investments by taking in more debt
The household debt of millennials and Gen Z, which only accounted for around 34 percent of the total in 2019, grew to around 45.5 percent by 2020 and further increased to 50.7 percent this year.
· Insights & Views
- Crypto-enabled Visa cards processed over $1B of transactions during the first half of 2021
As part of its digital currency roadmap, Visa said that it has been strengthening its ties with leady crypto platforms such as Coinbase, CoinZoom, Crypto.com, and FTX.
· Business
- Bitcoin (BTC), Ether (ETH), and crypto adoption soars in Nigeria as naira devalues
With the dollar’s scarcity, Bitcoin (BTC) is sometimes used as its proxy and hedge against inflation.
· Insights & Views
- REvil lowers demand from $70M in Bitcoin (BTC) to $50M for last week's ransomware attack
The Russian group was behind the massive ransomware attack on Friday which affected at least 200 U.S. firms.
· Technology
- Crypto exchange Binance says Barclay’s decision to block payments is based on ‘inaccurate understanding’
The crypto exchange explained that FCA's warning does not happy to products and services on the www.binance.com website.
· Business
- Crypto staking could balloon into a $40 billion industry by 2025, says JPMorgan
JPMorgan analysts predict that the industry could grow to 20 billion next year following the launch of Ethereum 2.0 and double again to $40 billion by 2025.
· Insights & Views
- China’s crypto crackdown could benefit Canada
The IBC Group has already transferred its headquarters to Toronto, Canada.
· Business
- Elon Musk losing his influence over Bitcoin (BTC) and crypto prices
It appears that the Tesla CEO might be losing his touch as his latest social media posts failed to substantially affect the prices of Bitcoin (BTC) and Dogecoin.
· Insights & Views
- Philippine Stock Exchange wants crypto trading done in its platform for investor protection safeguards
The idea of offering crypto trading on its platform was first discussed in a PSE top management meeting two weeks ago.
· Regulation
- Crypto exchange Binance faces criminal complaint filed by Thai SEC
Thailand’s Securities and Exchange Commission filed a criminal complaint against the crypto exchange for operating without a license.
· Regulation
- Crypto exchange Huobi imposes 24-hour token withdrawal delay on OTC transactions
With Huobi’s new policy in place, crypto traders will only be allowed to take out their tokens 24 hours after making the purchase.
· Business
- Brazil’s first crypto exchange Mercado Bitcoin gets $200M investment from Softbank
SoftBank decided to invest in Mercado Bitcoin due to the potential of South America’s crypto industry.
· Business
- Soros’ private investment firm goes into Bitcoin (BTC) trading
Soros Fund Management traders are now reportedly given the go signal to actively trade Bitcoin and other cryptos as part of the firm’s exploration of digital assets.
· Business
- South Africa prohibits the transfer of Bitcoin (BTC), Ether (ETH), other cryptos purchased from a South African exchange to an overseas platform
The South African Reserve Bank and other regulators appear to be tightening their control over crypto transactions in the country.
· Regulation
- Senator Lummis wants Bitcoin (BTC), other cryptos to become part of a diversified asset strategy for retirement funds
She believes that the inclusion of crypto assets in retirement funds is a good way to protect its value against inflation.
· Regulation
- Robert Kiyosaki urges investors to buy Bitcoin (BTC), silver, and gold ahead of the ‘biggest crash in world history’
The 'Rich Dad Poor Dad' author believes that an epic crash is coming to the financial markets.
· Insights & Views
- New rules could relieve South Korean banks of liability for crypto-related crimes as they partner with exchanges
This could encourage financial institutions to confidently enter into partnerships with platforms, which is a requirement in the registration process of exchanges.
· Regulation
- €1.5M in crypto recovered by Europol as it cracks down on Vitae Ponzi scheme
Authorities were also able to seize more than a million euros in cash and arrested individuals believed to be connected with the syndicate.
· Regulation
- Crypto mining firm Hut to increase Bitcoin holdings to 5K BTCs as it quadruples its hashrate to 6 EH by mid-2022
With China’s crackdown disrupting the crypto mining landscape, North American firms such as Hut 8 are busy beefing up their mining capacity.
· Business
- 30 new crypto mining licenses issued by Iran’s Ministry of Industries, Mining and Trade
The Iranian government has reportedly issued new licenses for crypto mining farms even as it temporarily halts all mining activities until the end of summer.
· Regulation
- Indian investments in crypto such as Bitcoin (BTC) and Ether (ETH) rose by 19,900% to $40B despite regulatory uncertainties
The regulatory uncertainly in India’s crypto industry has not deterred investors from buying digital currencies such as Bitcoin (BTC) and Ether (ETH)
· Investing
- Crypto exchange Binance ordered to stop all regulated activities by UK’s FCA
The regulator emphasized that it has not granted any license or authorization to the crypto exchange or any of its subsidiaries.
· Regulation
- U.S. Banks and credit unions can now offer Bitcoin (BTC) buying, selling, and holding services to their clients
To make the Bitcoin option possible, Finserv collaborated with New York Digital Investment Group.
· Business
- Athena Bitcoin to install 1.5K crypto ATMs in El Salvador
The Chicago-based firm plans to eventually install 1,500 Bitcoin ATMs in El Salvador but it will do it in phases and will initially dozens of machines as a test.
· Business
- Thomas Farley bullish on Bitcoin (BTC) but believes crypto unlikely to exceed gold’s market cap
While he is bullish on the crypto's price trajectory in the next five years, he is not so sure if it can surpass gold’s $10 trillion market cap.
· Insights & Views
- South Korean crypto exchanges Upbit and Bithumb delist some altcoins from their platforms
The crypto exchanges' move could be part of their preparations to have their applications for registration approved by the Financial Intelligence Unit (FIU).
· Regulation