Month: December 2020

The CTO at Bitfinex Paolo Ardoino has pushed back against rumours that the company’s Tether stablecoin may be the next target of the U.S. Securities and Exchange Commission (SEC). The Bitfinex executive insists that the Tether stablecoin, whose market capitalization has now surpassed $20 billion, is a properly registered and regulated crypto. The Alleged Misinformation
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2020 has been a stellar year for the crypto economy, with more enterprises and institutions than ever before implementing the technology. Big announcements, such as PayPal’s decision to enable its users to buy and sell Bitcoin (BTC), have understandably dominated the headlines. However, pivotal regulatory developments across the globe have largely flown under the radar
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Bitcoin (BTC) has posted its highest transaction volume since early 2018 as data points to more and more investors entering the market. Figures from on-chain analytics resource Digital Assets Data highlights December 2020 as already sparking Bitcoin’s second-largest transaction volumes. BTC transaction volume eyes record At a total of $252.37 billion the remaining 24 hours
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The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a warning that alerts financial institutions in the United States about increasing ransomware attacks against coronavirus vaccine research organizations. US Treasury Warns of Ransomware Attacks, Phishing Schemes Targeting Covid-19 Vaccine Research Institutions According to the alert, FinCEN says that fraud, ransomware attacks, and “similar types
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Bitcoin careened to another record high on Wednesday amid concerns about this year’s huge stimulus packages. The flagship cryptocurrency continued to attract capital from investors that view it as a hedge against fiat devaluation and inflation. On Tuesday, SkyBridge Capital investment revealed that it had invested about $182 million in Bitcoin ahead of its proprietary
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Decentralized finance insurance project Cover protocol briefly suffered losses when an unknown attacker minted over 40 quintillion Cover tokens. However, after successfully cashing out tokens worth about $5 million, the attacker unexpectedly returned ether tokens valued at about $3.2 million before leaving a message for the Cover team. Exploit No Longer Possible Immediately after the
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During a bull market, negative news is quickly digested and the collateral damage is often limited. Therefore, even as XRP price dumped aggressively due to the uncertainty regarding the outcome of the U.S. Securities and Exchange Commission lawsuit, other altcoins have largely been unaffected. Crypto market data daily view. Source: Coin360 Moreover, as Bitcoin’s (BTC) strong rally
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The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. 18% GST on Bitcoin Trades The Central Economic Intelligence Bureau (CEIB), an arm of the finance ministry, has
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India’s finance ministry has called for the enactment of Bitcoin (BTC) tax laws in the country. According to the Times of India, the ministry’s Central Economic Intelligence Bureau, or CEIB, recently submitted a draft document that proposes levying an 18% goods and services tax on Bitcoin trading. CEIB figures put the estimated Bitcoin transaction volume
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Bitcoin (BTC) fell below $26,000 on Dec. 29 as fresh fallout from Ripple’s threatened U.S. lawsuit was felt throughout crypto markets. Cryptocurrency market overview. Source: Coin360 BTC price dips as Coinbase halts XRP trading Data from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD hitting lows of $25,830 during Tuesday trading. $27,000 support failed to hold
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