The United Arab Emirates (UAE) has passed a new law that governs virtual assets, setting up the country’s initial regulatory regime for the cryptocurrency space at the federal level. Before the federal-level regulation, the UAE already introduced several supervisory initiatives for digital assets in economic free zones like the Abu Dhabi Global Market (ADGM). Last
Bitcoin continued to trade higher on Jan. 13, with prices racing above the $19,000 level, hitting a two-month peak in the process. The latest surge comes as traders continued to react to Wednesday’s U.S. inflation report, which dropped to 6.5%. Ethereum also rose today, hitting a fresh multi-month high. Bitcoin Bitcoin (BTC) rallied to a
Troubled cryptocurrency firm Nexo is planning to sue the Bulgarian government in the aftermath of massive raids at the company’s offices in Sofia. Nexo has complained about the actions of the law enforcement authorities in response to the investigation against the firm, the Bulgarian News Agency reported on Jan. 13. The company is reportedly preparing to
The judge in charge of overseeing the FTX bankruptcy proceedings has given the embattled crypto exchange the approval to sell some of its assets to aid its efforts in repaying its creditors. According to a court filing, Delaware Bankruptcy Court Judge John Dorsey has approved the sale of four key units of FTX. This includes
press release PRESS RELEASE. Singapore, 12 January 2023: Fiat-crypto payment gateway Alchemy Pay and its co-founder and majority shareholder, Shawn Shi, have been officially recognised by Forbes with the Web3 Innovation Pioneer award on 11 January. The Singapore-based payment solutions provider has a major research and development hub across Asia that has pioneered new payment
Approximately 65,000 of Oman’s residents are holders of crypto and a majority of these are either high school or college graduates, a new study by Souq Analyst has found. According to the study’s findings, an overwhelming majority (90%) of Oman’s crypto holders are aged between 18 and 44. Crypto Awareness in Oman According to the
Attorney John Deaton, who is proactively supporting more than 75,000 XRP investors in the legal fight between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) through an amicus brief, has published his predictions for the year 2023 on Twitter. Even though the statements come a bit late – one prediction has already come
A Chivo wallet programmer has opened up about the different problems that the flagship cryptocurrency wallet of El Salvador faced during its initial stages. Shaun Overton, who alleges he was hired to help in the handling of the issues, has talked about ID theft, money laundering problems, and the tech issues he observed while working
Bitcoin (BTC) may be up 16% so far in 2023, but one stock it outperformed last year is now getting its revenge. Data from Cointelegraph Markets Pro and TradingView shows that for all its newfound strength, Bitcoin is still playing catch-up. Tesla up almost 25% from January low Tesla was in the headlines throughout 2022
A Belarusian citizen will have to pay a hefty fine for illegally organizing the exchange of cryptocurrencies online. Law enforcement authorities in the country, where certain crypto activities are legal, do not plan to impose other penalties besides the administrative measure. Cryptocurrency Trader Tries to Challenge Fine in Belarusian Court The Supreme Court of the
The conflict between banks and cryptocurrency exchanges in Chile is still developing, as some banks are reticent to serve this kind of institution. A new report prepared by exchanges reports that most of these banks refuse to include crypto companies as customers for risks that are nevertheless managed in the case of servicing other kinds
A climate tech investor has painted a bright view of the Bitcoin (BTC) network, suggesting BTC’s environmental positives outweigh its negatives by a whopping 31:1 ratio. On Jan. 12, self-proclaimed philanthropist and environmentalist Daniel Batten claimed in a Twitter thread that “Bitcoin is probably the most important ESG technology of our time.” According to Batten,
ARK Invest CEO Cathie Wood believes that digital wallets and blockchain tech were among “game-changing innovations” that the equity markets largely ignored in 2022. In a Jan. 12 blog post on the ARK Invest website, Wood suggested that the equity market faced a “wall of worry” in 2022, caused by fears of entrenched inflation and
Hot on the heels of its Bitcoin (BTC) futures exchange-traded fund (ETF) in Hong Kong, Samsung Asset Management has indicated it’s considering the launch of a spot Bitcoin ETF on the city’s exchange if policies allow for it. In an interview with Bloomberg published on Jan. 13, Hong Kong chief executive for Samsung Asset Management,
The Nasdaq-listed cryptocurrency exchange Coinbase is closing down most of its operations in Japan after announcing another round of job cuts globally. “Despite everything we’ve been through as a company and an industry, I’m still optimistic about our future and the future of crypto,” Coinbase CEO Brian Armstrong insisted. Coinbase Winding Down Majority of Japanese
Input Output Global (IOG) — the team behind the Cardano ecosystem — will release a software toolkit in late Jan. 2023 that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem. The news was announced by IOHK — a blockchain engineering company founded by Charles Hoskinson and now known as
A group of crypto fraud victims of the BitConnect investment scheme will see some respite from the multi-billion dollar fraud scheme after a court ordered they receive a share in a $17 million restitution. The United States District Court for the Southern District of California ordered the restitution for the “massive” scheme on Jan. 12
Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries. Binance Approved to Operate in 7 EU Countries Cryptocurrency exchange Binance announced Thursday that its Swedish entity, Binance Nordics AB, “has
Crypto exchange WonderFi, which is backed by crypto investor and billionaire Kevin O’Leary, has confirmed it is in preliminary discussions with fellow Canadian crypto exchange Coinsquare for a possible merger. In a statement on Jan. 12, WonderFi responded to a Bloomberg report suggesting the two exchanges were in “advanced merger talks” to “create a Canadian
Eight major media companies including Bloomberg, The Financial Times and Reuters have demanded public disclosure of the two individuals responsible for guaranteeing FTX former CEO Sam Bankman-Fried’s $250 million bond. In a Jan. 12 letter addressed to New York District Court Judge Lewis Kaplan, attorneys from Davis Wright Tremaine LLP — acting on behalf of the