TokenPost reporter
Mark Jason Alcala
Stories by Mark Jason Alcala
- A third of Africa’s crypto owners are from Nigeria
Nigeria is the top county worldwide when it comes to the “number of people searching for ‘bitcoin’ and ‘crypto’ keywords on Google."
· Insights & Views
- Indonesia’s biggest tech firm enters crypto with the acquisition of a local exchange
GoTo, described as Indonesia’s biggest tech firm, shelled out 124.84 billion rupiahs ($8.38 million) to acquire 100 percent of PT Kripto Maksima Koin’s shares.
· Business
- Argentinian province launches a new system that accepts crypto for tax payments
The Argentinian province of Mendoza became one of the first in the country to implement a system that allows taxpayers to make payments and other operations with crypto.
· Regulation
- Venezuela’s high crypto usage attracts Spain-based crypto ATM and exchange operator Bitbase
Unlike other crypto firms that only maintain an online presence, Bitbase’s business model is a bit different as it includes physical stores.
· Business
- Brazil’s Rico to offer crypto, insurance, online banking, and credit cards
Brazilian banks and financial companies have upgraded their offerings by entering into the crypto space to meet the growing demand for crypto products from their clientele.
· Business
- Crypto industry participants join the SEC, BSP, and lawmakers to discuss crypto regulation in the Philippines
Discussion participants agreed that the growth of the country’s crypto industry needs a proper regulatory framework and that the key to user protection is through financial literacy.
· Regulation
- India’s crypto investors reach 115M despite market decline
More than half of existing crypto investors plan to add to their portfolio within six months.
· Insights & Views
- RBI still doesn’t want people investing in crypto and warns they could lose money in a market crash
The RBI has been known for its anti-crypto stance in the past and has cautioned investors on several occasions about the risks of crypto investing.
· Regulation
- Afghanistan closes 16 crypto exchanges and arrested their operators
The country’s central bank is known for its anti-crypto stance and blamed crypto trading for causing problems to the country’s citizens such as in the case of scams and has recommended their closure.
· Regulation
- Crypto exchange Binance to help develop Busan’s blockchain ecosystem and promote its crypto exchange
Binance said that it plans to establish a presence in the City of Busan by the end of 2022.
· Technology
- Three-quarters of retailers intend to accept crypto payments in two years
Deloitte surveyed 2,000 top retail executives, including those from the cosmetics, electronics, fashion, transportation, food, and beverage industries about their plans to accept payments in Bitcoin, Ethereum, and oth…
· Insights & Views
- Crypto exchanges Binance and Coinbase to suspend ETH and ERC-20 deposits and withdrawals temporarily in September
Coinbase and Binance will halt certain transactions as the Ethereum network transitions from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism also known as The Merge.
· Technology
- NFT theft reach $100M from July 2021 to July 2022
Crypto risk management firm Elliptic released its NFTs and Financial Crime report that revealed crypto users have been victims of $100.6 million of NFT-related scams from July 2021 to July 2022.
· Technology
- Liquidators of crypto hedge fund 3AC can now request access to financial records in Singapore
Teneo, the firm appointed to liquidate Thee Arrows Capital’s assets, already gained control of around $40 million of the crypto hedge fund’s assets, but the amount pales in comparison to the total amount 3AC owes to i…
· Regulation
- Tether explains why it won’t freeze Tornado Cash addresses yet
Tether said that even if the company spots suspicious activities, freezing an address without instruction from law enforcement might interfere with ongoing investigations.
· Regulation
- Blockchain could disrupt Facebook, Twitter, and other Web2 social media platforms
Blockchain, the technology behind popular cryptos such as Bitcoin (BTC) and Ethereum (ETH), has the potential to disrupt the existing social media model and give the power back to its users and creators.
· Technology
- Maya app surprises Philippine users with free Bitcoin giveaways
The all-in-one money app has a crypto feature that allows users to buy, sell, and hold digital currencies such as Bitcoin (BTC) and Ethereum (ETH) for as low as P1.
· Business
- Australia to token map cryptos from Bitcoin to XRP this year
The government is trying to find the right mix that will balance investor security but allow innovation in the digital assets industry.
· Regulation
- Korea’s regulator targets 16 unregistered foreign-based crypto firms
The FIU has already requested the Korea Communications Commission and the Korea Communications Standards Commission to block domestic access to the websites maintained by the unregistered crypto companies.
· Regulation
- Crypto scams declined while theft via hacking increased in 2022
With falling cryptocurrency transaction volumes, the overall volumes of illicit crypto transactions declined by.15 percent year over year.
· Technology
- Google is leading the public company investing in crypto and blockchain
Google's parent firm, Alphabet, invested $1.5 billion into crypto and blockchain firms from September 2021 to June 2022.
· Insights & Views
- These Bitcoin and Ethereum developments could drive up BTC and ETH’s prices
Scaramucci believes that BTC could reach as high as $300,000 within six years.
· Insights & Views
- Bitcoin soars past $24K while Ethereum approaches $2K amidst lower-than-expected inflation data
While lower-than-expected inflation data is indeed welcome news, it is still unlikely to significantly affect Fed’s current policy.
· Insights & Views
- Iran starts using crypto for international trade settlements
The $10 million import order is going to be the first of many international trades that the country will settle with crypto.
· Digital Currency
- Crypto exchange Coinbase reports its largest quarterly net loss of $1.1B for Q2
Coinbase is focusing on developing new crypto products during the down market.
· Business
- Australia to launch a 1-year pilot to explore CBDC use cases
The Reserve Bank will be inviting industry participants to develop specific use cases for CBDC that will highlight how it can be harnessed to provide innovative and value-added payment and settlement services to house…
· Digital Currency
- Nigeria tops Bitcoin, Ethereum, and crypto-related searches suggesting investors in the country are interested to buy the dip
Ether (ETH) appears to be gaining interest among crypto investors as online searches for “Ethereum” outscored “Bitcoin” in 14 of the 15 countries included in the study.
· Insights & Views
- Crypto miner Hut 8 continues its Bitcoin HODL strategy in July
Hut 8 bucks the trend and added 330 Bitcoins to its holdings
· Business
- Crypto exchange Coinbase to provide access to digital currencies for Blackrock institutional clients
The crypto exchange will provide crypto-related services to BlackRock clients through its institutional arm Coinbase Prime.
· Business
- Saylor says Bitcoin strategy enabled MicroStrategy to outperform every asset class and big tech
Saylor pointed out that MicroStrategy’s enterprise value increased by around 730 percent.
· Insights & Views
- South Korea’s tax agency to go after tax evasion cases using crypto
Seoul authorities pointed out that while the government has not yet implemented capital gains taxes on crypto investments and trading, digital currencies have been actively used to launder money.
· Regulation
- Crypto lender Vauld granted a 3-month creditor protection as it continues its talks with rival Nexo
During this period, which would last until November 7, 2022, the crypto lender’s 147,000 creditors won’t be able to take legal action against the firm.
· Regulation
- Ethereum’s Vitalik Buterin says Zuckerberg’s metaverse efforts are still too early and will likely backfire
Ethereum founder Vitalik Buterin is predicting that the social media giant’s metaverse plans will likely fail.
· Technology
- Crypto exchange Binance responds to the Central Bank of Uruguay’s scrutiny of its products
Binance was asked to remove the social media advertisements of its crypto products with savings features.
· Regulation
- Crypto donations in Bitcoin, Ether, Litecoin, USDT-TRX and DOGE to pro-Russian groups reach $2.2M
While pro-Russian groups received $2.2 million in crypto donations since the war started in February, the figure is just 4 percent of the $55 million in crypto donations received by pro-Ukraine groups.
· Insights & Views
- South Africa’s crypto regulation should balance customer protection and promoting investments
Greg Rodriguez, the CFO of the South African crypto exchange Revix, and Thomas Lobban, the legal manager at Tax Consulting South Africa, welcome regulation but are concerned that the regulation must not scare away inv…
· Insights & Views
- US Senator ask Google and Apple CEO about their app stores’ safeguards against fake crypto app
Senator Sherrod Brown, who is also the chairman of the Senate Committee on Banking, Housing, and Urban Affairs, wrote that it is imperative for app stores to have safeguards to prevent “fraudulent mobile application a…
· Regulation
- Crypto exchange FTX’s subsidiary bags first MVP license from Dubai’s Virtual Asset Regulatory Authority
The VARA MVP license allows the crypto exchange to offer crypto derivatives products, custodial, and trading services, act as a clearing house, and operate an NFT marketplace.
· Regulation
- Central African Republic requests assistance from BCAS to formulate its crypto regulatory framework
The CAR previously clashed with the BCAS over the former's decision to make Bitcoin legal tender.
· Regulation
- Bitcoin miners say surviving in this low-margin environment is a challenge
Industry players actually view BTC mining as the catalyst that will spur innovation and improve the efficiency of power generation and distribution.
· Business