Day: June 24, 2021

The Financial Supervisory Authority of Norway (Finanstilsynet) has cautioned investors about investing in cryptocurrencies as the price of bitcoin plunged Tuesday. “There is a strong need for a legal framework and investor protection if cryptocurrency is to be able to become a suitable form of investment for consumers,” the regulator’s consumer coordinator wrote. Norway’s Financial Regulator Warns of Crypto Risks Norway’s financial regulator, Finanstilsynet, posted a notice on its website Tuesday warning about the risks of investing in bitcoin and other cryptocurrencies. It is written by the regulator’s consumer coordinator,…

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PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the listing of SENT, being available to trade on the 23rd June 2021 at 10:00AM UTC. SENT is the native governance token of the Trade The Chain global community of crypto traders and enthusiasts, and was built to help traders make better decisions. The founding team is composed of veterans with backgrounds in asset management, prime brokerage, journalism, and more. SENT has started trading with USDT as a pair. What is SENT? SENT prioritizes community and ensures fair distribution of tokens. Token…

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E-Livestock Global, a venture-funded social enterprise, recently launched a blockchain-based livestock traceability system for Zimbabwean cattle farmers. The Mastercard “Provenance solution”-powered system, claiming to be the first of its kind in Africa, aims to bring “end-to-end visibility to the cattle supply chain.” It could also help Zimbabwean farmers prove the origin and health records of their cattle while reducing risks to buyers. Solution Brings Hope to Zimbabwe Cattle Farmers According to a statement released by Mastercard, this solution could not only bring hope to farmers who lost a total of…

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Canaan Inc., the crypto mining rig manufacturer based in Beijing, has announced the company plans to mine cryptocurrencies in Kazakhstan. The company says that the firm’s next-generation Avalonminer mining rigs are already deployed in the world’s largest landlocked country. Canaan Joins the Bitcoin Mining Fray The publicly-listed company Canaan (Nasdaq: CAN) has revealed the firm is entering the fray of bitcoin mining with its own self-operated mining business. Canaan is one of the oldest bitcoin mining hardware manufacturers in the world as it was founded by Nangeng Zhang in 2013.…

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The non-fungible token (NFT) marketplace Rarible has revealed the company has raised $14.2 million in a Series A funding round. Rarible details the funds will be leveraged to take NFTs to the mainstream and announced integration with the consumer-centric blockchain called Flow. Rarible Raises $14.2M in Series A Funding Round On Wednesday, the NFT marketplace Rarible, a protocol for creating, selling, and collecting non-fungible, blockchain-based collectibles, revealed the organization raised more than $14 million. The Series A funding round was led by Venrock, Coinfund, and 01 Advisors and the project…

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South Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars. Tax Agents Target Wealthy Tax Evaders in Greater Seoul Area More than 53 billion Korean won ($47 million) in crypto assets have been confiscated from 12,000 people who allegedly tried to hide money from the government. The funds were in bitcoin (BTC), ethereum (ETH) and other cryptocurrencies, Reuters reported quoting the government of Gyeonggi Province…

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The Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes Cryptocurrencies, Bitcoin The Bank of International Settlements published its annual economic report Wednesday, discussing cryptocurrencies, particularly bitcoin, as well as central bank digital currencies (CBDCs). The BIS explained that “Several recent developments have placed a number of potential innovations involving digital currencies high on agenda” of central banks. “The first…

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Bitcoin ATM provider Chainbytes is setting up a bitcoin ATM manufacturing hub in El Salvador. The move follows the country passing a bill making bitcoin legal tender. The company plans to make El Salvador “the manufacturing hub of bitcoin ATMs for all of the Americas.” Bitcoin ATMs Coming to El Salvador U.S.-headquartered Chainbytes LLC, a bitcoin ATM provider, announced Tuesday that it is launching operations in El Salvador, the country which recently passed a bill making bitcoin legal tender. Chainbytes revealed that it plans “to make El Salvador the manufacturing…

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Investment bank JPMorgan conducted a survey of thousands of investors from 1,500 institutions and found that 49% of them think that cryptocurrency is either “rat poison squared,” the term used by Berkshire Hathaway CEO Warren Buffett to describe bitcoin, or “a temporary fad.” 49% of Investors Told JPMorgan Cryptocurrency Is a Fad or ‘Rat Poison Squared’ JPMorgan released the results of a survey it conducted at the firm’s 24th Macro, Quantitative & Derivatives Conference Tuesday. The event took place on June 11; it was attended by some 3,000 investors from…

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