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Polygon Proposes to Upgrade Native Token From MATIC to POL
13.7.2023
Popular Ethereum scaling solution Polygon has proposed to revise its native token from MATIC to POL as a part of Polygon’s roadmap 2.0.
The details of the switch have been published in a white paper compiled by the platform’s founders and researchers....
Read More: Polygon Proposes to Upgrade...
India Central Bank Official Warns of 'Existential Threat' from Stablecoin
13.7.2023
Reserve Bank of India’s Deputy Governor has warned that stablecoins pose an existential threat to policy sovereignty and are not useful to economies like India.
RBI Deputy Governor T Rabi Sankar opined that stablecoins are beneficial to certain economies like US and Europe to which stablecoins...
Co-founder of Indian Crypto Unicorn 5ire to Depart Amid Internal Dispute – Here's the Latest
13.7.2023
Blockchain layer 1 network 5ire, which secured series A funding last year valuing the company at $1.5 billion, is now bidding farewell to one of its co-founders.
Vilma Mattila, one of the co-founders of 5ire alongside CEO Pratik Gauri and CTO Prateek Dwivedi, is stepping down from the company...
Snoop Dogg and a16z Join $20 Million Funding Round for Web3 Music Platform Sound
13.7.2023
Web3 music platform Sound has raised $20 in Series A funding round led by Venture capitalist firm Andreessen Horowitz (a16z) and American rapper Snoop Dogg.
Actor Ashton Kutcher-led firm Sound Ventures and artist and producer Ryan Tedder also participated in the funding round.
Sound aims to help...
Google to allow new Blockchain-powered experiences via Google Play
13.7.2023
Google Play always keeps helping its developers bring creative ideas into existence. The platform hosts a wide range of blockchain-based applications, and the current partners are enthusiastic about expanding their offerings in order to develop more immersive and engaging digital experiences using...
New Tool Allows Bitcoin Holders to Store Private Keys as Colors
12.7.2023
One of the challenges crypto investors face is the issue of asset loss. Sometimes, scammers steal users’ assets when they access their private keys.
Other times, the government can seize an investor's crypto assets when flagging them for illegal transactions or other cases unrelated to crypto. ...
Google Play Embraces Digital Assets & NFTs: What You Need to Know
12.7.2023
In an unprecedented move, Google Play, the popular Andriod app and game marketplace, has announced policy changes to allow the integration of digital assets such as non-fungible tokens (NFTs) into its platform.
Google Play Group Product Manager, Joseph Mills, unveiled the policy shift on Wednesday...
IMF Highlights Climate Change and DAOs as Major Threats to the Marshall Islands
12.7.2023
The International Monetary Fund (IMF) has identified climate change and decentralized autonomous organizations (DAOs) as potential threats to the Republic of Marshall Islands. Therefore, the IMF urges reforms in light of these challenges.
On July 9, the IMF published its disclosure titled...
Former CFTC Chair: Crypto Regulations Must Not Wait for Litigation, Standards Needed Today
12.7.2023
A crackdown on the crypto industry in the US should not wait for litigation in courts to conclude, but instead move forward with temporary restraints while the courts do their work, a former regulator has said.
Speaking with CNBC on Monday, Timothy Massad, former chairman of the Commodity Futures...
Singapore's Investment Conglomerate Temasek Drops Crypto Investment Plans Citing Regulatory Uncertainties
12.7.2023
Singaporean investment conglomerate Temasek has decided to drop its plans to invest in crypto exchanges, due to regulatory uncertainties.
In an interview with CNBC, Temasek’s Chief Investment Officer Rohit Sipahimalani revealed the bitter experience of writing down its entire $275 million...
South Korea To Require Firms To Disclose Crypto Holdings Starting 2024
12.7.2023
South Korean firms that hold or issue cryptocurrencies will be required to disclose information about their transactions to the financial regulator starting next year.
The Financial Services Commission (FSC) of South Korea announced Tuesday that domestic companies that engage with crypto will have...
Bank for International Settlements Rejects Crypto as Money in Report to G20
12.7.2023
A new report from the Bank for International Settlements (BIS) has pointed to “inherent structural flaws” in crypto as the reason why it will never become money.
In the report, the BIS made it clear that it believes crypto has problems related to its “stability and efficiency,” while also...
Hong Kong's Grey Zone Crypto Stores Draw in Chinese Visitors
12.7.2023
According to a report from the Financial Times, the influx of Chinese tourists into Hong Kong has witnessed a peculiar trend in recent months, as more individuals seek to purchase cryptocurrencies during their visits.
This surge in interest can be attributed to the stringent regulations...
Moonriver and Turing Network create HRMP channel
12.7.2023
Following the testing of Moonbase Alpha and OAK Network’s staging situation, Moonriver and Turing Network parachains which are built on Kusama, are creating an HRMP channel between parachains for building advanced automation functions with the utilization of XCM within the Moonriver ecosystem....
US Senators Cynthia Lummis and Kirsten Gillibrand Propose Legislation to Regulate Digital Assets
12.7.2023
US Senators Cynthia Lummis and Kirsten Gillibrand are set to propose a new bill today to regulate cryptocurrencies and other digital assets in the country.
Lummis and Kristen will reintroduce their Responsible Financial Innovation Act amid the ongoing debate about the future of digital asset...
New Research: Bitmain's S19 Miners Hold Majority of Bitcoin Network Hashrate
12.7.2023
Bitcoin’s energy efficiency has been a concern over the years as mining activities consumed rather massive amounts of electricity.
Part of this resulted from the machines miners use, which have a high energy consumption.
According to a new report by Coinmetrics, three Bitcoin mining rig models...
Russians ‘Can Pay Taxes on Their Crypto Earnings’ – Despite Crypto’s Lack of Legal Status
12.7.2023
The Russian tax body says that citizens “can pay” taxes on their crypto earnings, despite the fact that tokens have no legal status in the country.
In another sign that the government appears to be sending mixed messages about its stance on crypto, the Federal Tax Service (FTS) stated that crypto...
Billionaire Winklevoss Twins and DCG's Barry Silbert Dispute Takes a Nasty Turn
11.7.2023
Cameron and Tyler Winklevoss, the billionaire twins who owns crypto exchange Gemini, may have a hidden agenda with their lawsuit against Barry Silbert’s crypto conglomerate Digital Currency Group (DCG), a recent Fortune article has suggested.
According to the article, there is a chance that...
Rich Dad Poor Dad Author Robert Kiyosaki Predicts US Dollar's Demise Imminent as BRICS Nations Soon to Unveil Gold-Backed Crypto
11.7.2023
Robert Kiyosaki – author of the famous personal finance book Rich Dad Poor Dad – is bearish on the U.S. dollar after BRICS nations reportedly agreed to establish a gold-backed currency.
The agreement, reported by Russia Today (RT) last week, will supposedly be officially announced in August at...
DOJ Charges 25-Year-Old with Stealing $450,000 in NFTs and Crypto from OpenSea
11.7.2023
A Moroccan man, Soufiane Oulahyane, aged 25, has been charged by the Department of Justice (DOJ) for his alleged involvement in stealing approximately $450,000 worth of cryptocurrency and non-fungible tokens (NFTs).
Oulahyane is accused of creating a fake version of the popular marketplace...