Kazakhstan, hotbed for crypto mining, mulls restrictions amid power shortages
Xive co-founder says its one mining farm in the south of the Central Asian nation has been forced to disconnect from the grid.
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Top South Korean exchange accused of listing faulty tokens for fees
A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.
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Sky Mavis receives $3B valuation in funding round amid tumultuous period for Axie Infinity
Sky Mavis, the company behind leading non-fungible token game Axie Infinity, has raised US$152 million in a Series B funding round with a valuation of nearly US$3 billion, according to news outlet The Information. Fast facts Led by venture capital firm Andreessen Horowitz, Sky Mavis said it will use the funds to improve its blockchain…
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Bitcoin price crosses $50K, but market dominance continues falling
This is the second time the world’s largest cryptocurrency has hit the mark in recent months. Does that mean this price point is here to stay?
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U.S. Bank launches Bitcoin custody service as more banks enter crypto realm
U.S. Bank, the country’s fifth-largest retail bank, will now offer custody services for cryptocurrencies, starting with Bitcoin, the bank announced on Tuesday. New York Digital Investment Group, a fintech firm dedicated to Bitcoin, is the first crypto sub-custodian in the bank’s network of providers, the statement said. Fast facts The services are geared toward institutional…
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Global bodies propose regulatory standards and greater oversight for stablecoins
The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the…
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SEC chair Gensler: No plans to ban crypto, says it’s ‘up to Congress’
The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of…
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MetaMask Institutional partners with crypto custodians BitGo, Qredo, Cactus Custody
MetaMask Institutional (MMI), the version of the MetaMask decentralized finance (DeFi) wallet for institutions, today announced its partnership with digital assets custodians U.S.-based BitGo, British Virgin Islands-headquartered Qredo, and Hong Kong-based Cactus Custody to facilitate companies seeking access to DeFi. Fast facts The partnership comes amid growing institutional interest in DeFi and aims to address…
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What are the biggest challenges for institutions that adopt crypto?
What does it mean to provide ‘institutional’ crypto services, and what role does blockchain technology play? Robert Cooper of Digivault explains.
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Petitioners oppose looming 20% crypto tax in South Korea
Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.