WeChat has blocked more than a dozen accounts belonging to non-fungible token (NFT) marketplaces from its social media platform, citing prevention of “crypto speculation.” See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts When visited, the banned accounts of the NFT marketplaces displayed a message from WeChat: “No legal…
The International Monetary Fund (IMF) is voicing concerns over the adoption of cryptocurrencies in India, suggesting it poses significant risks to the country’s financial stability, local media report. See related article: Killing it softly or regulating to innovate? India at the crypto crossroads Fast facts Crypto assets pose significant risks, including to financial stability in…
USDT, the world’s largest stablecoin, is now backed by much smaller cash reserves than before. XREX analyzes the risks.
Top blockchain and cryptocurrency news: Dubai’s crypto caravan. Mt. Gox unlocked. Digital yuan in play again.
A district government in Maharashtra, India, has started stamping 65,000 caste certificates through LegitDoc, a document-verifying system on the Polygon blockchain. See related article: India releases ‘National Strategy on Blockchain’ for e-governance Fast facts In India, caste certificates are used by marginal communities such as tribes to gain access to certain government benefits and subsidies. …
Sushil Kumar Modi, a member of Parliament (MP), has urged India’s finance minister Nirmala Sitharaman to consider raising the capital gains tax on crypto income to over 30%, the flat rate scheduled to kick in from April 1. See related story: India’s tax bogeyman is scaring off young crypto investors Fast facts The minister argued…
The Hong Kong Exchange (HKEX) Tuesday revealed plans to launch “Diamond,” a trading platform to pilot digital assets in 2022. See related article: China’s e-CNY pilot to boost Hong Kong as offshore yuan trading center Fast facts See related article: Hong Kong to propose bill to license crypto exchanges
Decentralized finance (DeFi) lending protocol Aave’s governance token surged 84% since its March 16 V3 upgrade, and was trading at US$220.01 at press time, according to CoinGecko data. See related article: DeFi lending platform Aave to ‘build Twitter on Ethereum’ Fast facts Aave is also the top gainer in the past 24 hours with a…