Author: Bitcoin.com
The government in Turkey does not intend to impose a 40-percent levy on crypto-related gains as has been alleged, members of the ruling AKP party have indicated to the local press. They have also emphasized that the current regulatory efforts are aimed at creating a sustainable environment for the blockchain industry. A legislative proposal tailored to regulate cryptocurrency trade in Turkey is likely to be submitted to the parliament in the upcoming weeks. Sources from the Justice and Development Party (AKP), the country’s ruling political force, have “strongly denied” allegations that authorities in Ankara are going to tax cryptocurrency gains at a…
On January 8, 2022, the price of bitcoin dropped to $40,517 per unit just after 1 p.m. (EST) on Saturday afternoon. According to the Crypto Fear & Greed Index (CFGI), sentiment shows “extreme fear” is in the air, and the CFGI score is a 10. The last time the CFGI score was this low was 171 days ago on July 21, 2021. Digital currency markets shed billions in value this past week and the leading crypto asset bitcoin (BTC) lost close to 10% during the last seven days. On Saturday, January 8, 2022, the price hit its lowest point since…
Solana, a top ten smart contracts-enabled cryptocurrency by market cap, has acknowledged it is facing a series of problems hindering the performance of its network. The official account of the status of the network, as well as the status page, reported this incident yesterday. This is the latest issue Solana is facing after experiencing several network disruptions during the past months. The account explained: [The network is experiencing] degraded performance due to an increase in high compute transactions, which is reducing network capacity to several thousand transactions per second. This is leading to increased loading and transaction processing times, and…
Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source of income for many locals. Power grid operators in Irkutsk have been dealing with a growing number of outages. The region and the city are experiencing a tangible increase in electricity consumption that overloads the distribution network. Local officials claim this has been caused by cryptocurrency miners who mint digital currencies in their apartments, basements,…
Authorities in Poland have released Dmitry Vasiliev, the man who was at the helm of Wex, once Russia’s largest cryptocurrency exchange. The 34-year-old native of Belarus was detained at the Warsaw airport on Aug. 11, initially for a period of 40 days but he remained in custody for almost four months. Vasiliev told the Russian business news portal RBC that he was allowed to leave on Dec. 7 and has since returned to Russia where he resides. His Polish lawyer further explained that the court has dismissed his extradition to Kazakhstan but is yet to make a final decision on his case.…
The largest banking and financial services provider in Russia and the post-Soviet space, Sberbank, has announced the launch of a blockchain ETF. The new product, called ‘Sber – Blockchain Economy,’ aims to provide Russian investors with an opportunity to profit from the crypto sector without the need to get involved directly in the development, acquisition, storage, and sale of digital assets. The ETF tracks the Sber Blockchain Economy Index which includes securities of companies operating with cryptocurrencies and blockchain technologies. “Today, they are used in a variety of industries and solve a variety of problems — from protecting personal data and confirming…
Genesis Trading’s head of market insights says that the institutional investment growth in the crypto space over the last 12 months “has been astonishing.” The executive added: “We’re seeing strong signs of that accelerating over the next year.” Noelle Acheson, head of market insights at Genesis Trading, shared her outlook for the cryptocurrency market and what investors should expect heading into 2022 with CNBC Tuesday. She said: “The institutional growth over the last 12 months has been astonishing. We’re seeing strong signs of that accelerating over the next year.” Genesis Trading is a full-service digital currency prime brokerage. The firm…
A 50-year-old man who allegedly scammed Thai and foreign cryptocurrency investors was arrested on Saturday in Bangkok, Thailand. He tried to flee with over 500 million baht ($15 million), the Bangkok Post reported. Major General Montri Thetkhan, commander of the Crime Suppression Division (CSD), said Mana Jumuang, along with his Thai and Vietnamese accomplices, allegedly colluded to swindle investors in 2018 and 2019. He detailed that Jumuang claimed to be a cryptocurrency guru, duping investors into investing in Onecoin by promising high returns. The CSD chief noted that the suspect told investors they could invest and earn a 400% return in…
Expecting energy needs across the country to increase with low temperatures in the coming months, the Iranian government is now taking steps to limit consumption and avoid an electricity deficit. Just like earlier this year, the measures will affect the country’s growing crypto mining industry. Tavanir, the Iran Power Generation, Distribution and Transmission Company, has recently instructed authorized cryptocurrency mining centers to unplug their power-hungry hardware, the English-language business daily Financial Tribune reported. Iran’s Ministry of Energy has been trying to reduce the use of liquid fuels in power plants since last month, Tavanir’s spokesman Mostafa Rajabi Mashhadi told the…
While blockchain monitoring has increased a great deal during the last few years, cryptocurrency mixers have seen significant use from those who don’t want their financial transactions tracked. Meanwhile, two mixing applications, Tornado.cash and Cashfusion, have helped crypto owners make their ethereum and bitcoin cash less traceable. The two applications combined recorded more than $8 billion in crypto transactions that have been purposely obfuscated. Tornado.cash is an Ethereum (ETH) mixing tool that has seen approximately 2,344,835 ether worth more than $4.8 billion in deposits. The application is very popular and was even reviewed by former Bitcoin developer Gavin Andresen in 2020. Tornado.cash has also…