The G7 committee recently met in Niigata, Japan, to discuss, among other topics, the global financial implications for central bank digital currencies (CBDCs) and the laws governing the transfer of cryptocurrency assets. In a communique summarizing the discussions, the committee reiterated its support for developing CBDCs with the caveat that further investigation was needed to
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Solana extended recent gains on Monday, as the token rose to a one-week high, following recent declines. The token dropped below the $20.00 level last week, as a red wave hit cryptocurrency markets. Litecoin was also higher today, climbing by nearly 7%. Solana (SOL) Solana (SOL) rose to a one-week high on Monday, as momentum
Last week was harsh for the United States Securities Exchange Commission (SEC), with industry figures and officials publicly criticizing the regulator. May 8 was the deadline for feedback on the SEC’s proposed custody rule, and there was feedback aplenty. Andreessen Horowitz’s general counsel Miles Jennings called the proposal a “misguided and transparent attempt to wage
On May 15, 2023, the Bitcoin Cash network achieved another annual milestone by seamlessly integrating four cutting-edge features into its consensus ruleset. At precisely 1:24 p.m. UTC on Monday, the eagerly anticipated upgrade went live, marking a significant leap forward for the peer-to-peer electronic cash platform. Bitcoin Cash fans believe the transformative changes are set
Your guide to the exhiliarating and vaguely terrifying world of runaway AI development. It’s been a hell of a couple of weeks for Melbourne digital artist Rhett Mankind, 46, who enlisted ChatGPT to create a $100 million market cap coin called Turbo, which has now inspired a Beeple artwork and saved a man’s life. Mankind,
The Department of Commerce has imposed a 10-year export privilege bar on Virgil Griffith, an Ethereum developer currently serving a five-year prison sentence. This bar restricts him from enjoying export privileges until April 12, 2032. The export privilege ban affects his ability tonparticipate in international trade and business. On April 12, 2022, Virgil Griffith was convicted in
Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. Bitcoin Bitcoin (BTC) jumped back above the $27,000 level to start the week, as sentiment showed
The Bitcoin (BTC) network has faced a litmus test in recent weeks due to the increased demands of Ordinals and BRC-20 tokens being inscribed onto the preeminent blockchain. The resulting increase in fees and transaction congestion has left the wider Bitcoin community frustrated, considering that some BRC-20 tokens involve meme tokens that have attracted billions
Kim Nam-kuk, a South Korean lawmaker, has announced his departure from the Democratic Party over his alleged crypto dealings while legislating on digital assets. The politician said that he will continue his fight to prove his innocence independently. According to Kim, his departure will relieve party members of the burden brought about by the controversy. He believes
press release PRESS RELEASE. Reef is thrilled to announce the launch of a $10 Million Accelerator Program for Web3 projects building on the Reef Chain, which are based out of the Middle East. The program, managed by Reef Labs, aims to support, incubate, and invest in promising Middle East-based Web3 developers, teams, and projects building
Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These de-risking policies might affect bilateral trade, which fell by 11.2% to $217.9 billion during the first four months of 2023. ‘De-Risking’
Bitcoin (BTC) is fighting for the bull trend as the new week begins as the market acts within a crucial zone. After closing the weekly candle at just below $27,000, BTC/USD is attempting to cement support as a stubborn trading zone holds. The stakes are already high — last week saw a flash dip below
Major cryptocurrency Bitcoin (BTC) could become a top three asset in the event of a theoretical debt default in the United States, according to a new survey. As U.S. President Joe Biden prepares to meet with Congress on May 16 to discuss the U.S. debt ceiling, investors are seeking hedges to protect their savings in
A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk,
The United States Justice Department’s crypto enforcement team is cracking down on Decentralized Finance (DeFi) hackers and exploiters, amid a four-year rise in illicit crypto activity. In a Financial Times report published on May 15, Eun Young Choi, director of the U.S. Department of Justice (DOJ) national cryptocurrency enforcement team (NCET), stated that the department
Crypto Twitter was briefly set ablaze on May 14 with a suggestion that the world’s first real-world purchase made by Bitcoin may have been for a JPEG, not pizza. In a tweet from independent developer Udi Wertheimer, the Bitcoin advocate shared a screenshot showing what could have been the first-ever purchase using Bitcoin — even
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia mulls using the Chinese yuan in international trade settlements, inflation reaches 108.8% in Argentina, and Steve Hanke states he can eliminate Venezuela’s inflation in 30 days. Bolivia Mulls Using
Chinese and French foreign ministers have expressed readiness to strengthen cooperation and pursue a “close and enduring comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. This followed a “successful” meeting between French President Emmanuel Macron and Chinese President Xi Jinping. China and France to Strengthen Relations State Councilor and Foreign Minister Qin Gang
The number of Bitcoin (BTC) wallet addresses holding one whole BTC or more has surpassed the one million mark. The one million wholecoiner milestone was reached on May 13, according to data from Glassnode. As the price of Bitcoin fell more than 65% over the course of last year, the number of wallet addresses holding
The United States securities regulator is seeking to revise its $22 million punishment against decentralized content platform LBRY, acknowledging it is unlikely to be able to cough up the funds to be able to pay it. In a May 12 filing in a New Hampshire District Court, the Securities and Exchange Commission (SEC) sought an