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Australia’s corporate watchdog said on Monday it was working with lawmakers to develop rules for digital currencies but warned many crypto assets remained unregulated for now, leaving investors in such products “on their own”. In his first public comments since the country’s largest bank unveiled plans to offer cryptocurrency trading, Australian Securities and Investments Commission (ASIC) chair Joe Longo told investors to be cautious buying products that had no protection. “Consumers should approach investing in crypto with great caution,” Longo told an Australian Financial Review Conference. “At present many crypto-assets are probably not ‘financial products’ …. for the most part,…
The cryptocurrency market has been in a bearish trend for the past few weeks. Bitcoin has lost its position above the $50k mark, while Ether has been unable to surpass the $4k mark over the past few months. Despite the bearish trend in the market, one of the cryptocurrencies that stood out is Solana. Solana (SOL) reached a new all-time high above $200 at a time when the other major cryptocurrencies were suffering massive losses. This unusual movement in price grabbed the attention of many traders, investors, market participants, and people outside the cryptocurrency space. As one of the leading…
The City regulator is calling in Bitcoin experts to train its staff over fears that money launderers and terrorists using cryptocurrencies are steps ahead in the fight against financial crime. The Financial Conduct Authority (FCA) is spending £500,000 on consultants to provide access to a platform that analyses blockchain data and to coach officials about how they can spot criminals transferring money via decentralised financial networks. The FCA is ramping up its surveillance of crypto transactions as part of its efforts to tackle money laundering and terrorist financing due to fears that the crypto industry has become a hotbed for…
PRESS RELEASE: The Ethereum-based solution will be a premier, bespoke online community, bringing together NFT investors, partners, play-to-earn gamers and developers. While new NFT and PTE gaming sites are being deployed seemingly everyday, few if any have tied together in a seamless, intuitive way a truly robust and inclusive community that delights and rewards all key stakeholders. Funganomics, however, is building for “what’s next” in this new and exciting space, addressing the gaps in functionality and user experience currently challenging other platforms and their digital communities. Specifically, the new ecosystem will comprise several key functional areas that will work together symbiotically, including…
For bitcoin enthusiasts, one of the most compelling things about the cryptocurrency is its ability to side-step fiat monetary systems that dilute the value of cash holdings through inflation. That isn’t anywhere near as complicated as it sounds. Put very simply, central banks grease the wheels of their economies by continually printing new money. A higher money supply makes it easier for companies to spend and service their debt. But there’s a catch: for every new dollar you add to the spending pool, the buying power of each individual dollar falls proportionally. Again this is simpler than it sounds: changing…
El Salvador intends to issue the world’s first sovereign Bitcoin bonds and build Bitcoin City, which will be free of income, property and capital gains taxes, President Nayib Bukele announced in the beach town of Mizata to a crowd of cheering Bitcoin enthusiasts. El Salvador plans to issue $1 billion in tokenized U.S.-dollar denominated 10-year bonds to pay 6.5% via the Liquid Network, according to Samson Mow, chief strategy officer of Blockstream. Half of the funds of the so-called “volcano bond” will be converted to Bitcoin and the other half will be used for infrastructure and Bitcoin mining powered by…
Rumblings from the belly of the Washington beast are being heard in the bitcoin world. President Joe Biden has generated tremendous controversy by nominating Saule Omarova to head the Office of the Comptroller of the Currency (OCC). Brian Brooks showed in 2020 how the OCC can be a powerful force on the regulated side of bitcoin, so it’s worth understanding the dispute around Omarova, and what her views are. As with other regulators, she can not stop bitcoin; however she could throw some painful roadblocks along the way. The 2020s are shaping up to be a contest of ideas. The…
Young cryptocurrency millionaires — and those who want to learn more about their hot assets — converge weekly in the Big Apple to drink, exchange business cards, and enjoy their collective good fortune at being early to the second internet gold rush. The most recent gathering, held Monday in the upper room of Sean’s, a Midtown pub, featured dozens of 20- and 30-something techies dressed like they were going for a day hike in Portland — mingling with each other and a smattering of women as they sipped pints of Guinness and nibbled burgers and fries. The event is called…
Despite Bitcoin launching way back in 2009, it’s only until recently that you can’t turn on the news or browse the web without coming across some mention of cryptocurrency. I got so many questions from my readers and national radio show listeners that I wrote an eBook about crypto to help. I demystify digital currency, mining, and how to get started trading. Tap or click here to get your copy on Amazon. Sadly, I also hear from people that got fooled by one crypto scam or another. Where there is money, criminals are waiting. Before we get started, know this…
Non-fungible tokens (NFTs), a type of digital asset, have exploded in popularity this year, with NFT artworks selling for millions of dollars. The trend is perplexing those who might wonder why so much money is being spent on items that only exist in digital form and can be viewed by anyone for free. Supporters view NFTs as the next phase in art collection. WHAT IS AN NFT? An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT’s authenticity…