Crypto news

Non-fungible tokens (NFTs) became particularly popular in 2021, and the trend continues, albeit a bit slower, in 2022. Users flock to create, sell, and collect various NFTs for many reasons. Some of them like the art, others are trying to speculate on their value, third are used as a part of a blockchain-based game, and so forth. Whatever the reason might be – it appears that NFTs are here to stay. Naturally, Ethereum emerged as the dominant network for their creation, and...

Ripple’s XRP is one of the few large cryptocurrencies that are not trading flat in the past 24 hours but has, in fact, surged by an impressive 16% before retracing. It appears that the most recent development in the company’s case against the Securities and Exchange Commission is perceived well by market participants. Ripple’s Most Recent Court Win Back in December 2020, the United States Securities and Exchange Commission filed a lawsuit against Ripple. The watchdog alleged...

The Lower House of Russia’s Parliament – State Duma – has reportedly called upon establishing a regulatory framework on cryptocurrencies rather than imposing a blanket ban on them. The authorities joined the likes of the Finance Ministry, which urged for the same thing. The Never-Ending Saga Earlier this year, the Bank of Russia – the central banking institution of the largest country by landmass – reiterated its negative stance on the crypto sector. It called it a pyramid...

Bitcoin’s price continues to consolidate and has failed to produce a meaningful and sustained movement in any direction. Meanwhile, Ripple’s XRP is the only altcoin in the top 10 that’s charting a serious increase. Bitcoin Consolidation Continues Over the past 24 hours, Bitcoin’s price failed to produce any meaningful and sustained move in either direction and is pretty much trading right where it was yesterday during this time – at around $39,000. This doesn’t mean that we...

Greg Girasole and Alex Kriete, who were spearheading the recently-launched digital assets group for Wall Street giant Citigroup have announced departing the firm. Citi Execs Bid Adieu According to Kriete’s LinkedIn post, the duo is all set to create their own startup in the blockchain and digital asset space. “Over five years ago my personal interest and subsequent writing about blockchain-enabled digital assets (yes, “crypto”) led to an amazing network of colleagues across...

Joe Biden is slated to sign an executive order on cryptocurrency sometime this week. The executive order will be directed towards the regulation and trading of digital currency. Joe Biden Seeks Further Crypto Establishment Given Biden’s history with crypto, traders should be a little worried about what’s to come. Remember last summer’s infrastructure bill? The document opened the doors to more than a trillion dollars in spending. With a name like infrastructure, one...

In light of global trade restrictions against Russia, Chainalysis has introduced two new tools for helping businesses ensure that they don’t interact with sanctioned entities through blockchain. Enforcing Sanctions in Crypto The first of these tools – according to a statement from the company – is an on-chain oracle. The smart contract will store data from economic embargo lists provided by various western authorities like the US, EU, or United Nations. The oracle may be...

Coinbase – one of the largest and most popular cryptocurrency exchanges in the world – announced earlier in the week that it is taking heavy action against Russian accounts on its platform. The company has worked to block as many as 25,000 separate crypto accounts allegedly stemming from Russia and that are believed to be involved in illicit activity. Coinbase Works Against Russian Accounts In addition, Coinbase says that it is revamping its efforts to push against...

The Financial Conduct Authority (FCA) of Britain has ordered that all Bitcoin cashpoints in the country be shut down. ATM providers recently received an order from the watchdog to cease operations, or risk facing enforcement action. Weeding Out Money Laundering Bitcoin ATMs allow holders of cash to independently convert their cash into Bitcoin, or vice versa. Given that cash transactions are private, the proliferation of these machines has raised concerns that they could help...

The line between banks and crypto is becoming a lot thinner thanks to republican politicians in Virginia. A new amendment will be signed into law by the state’s conservative governor Glenn Youngkin that will allow banks in Old Dominion to offer crypto assets and services to their customers. Virginia Is Plowing Headfirst Into Crypto Last week, the state senate of Virginia unanimously voted to move forward with a bill amendment that focused on digital currency custody. The...