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Dec 30, 2023 at 19:34 // Price Author Coin Idol The price of Ethereum (ETH) has resumed its uptrend after falling back above the $2,300 support. Long-term analysis of the Ethereum price: bullish Ethereum price made a good bounce to the upside on December 28 when it broke through the $2,300 and $2,400 resistance levels to reach a high of $2,447. However, buyers were unable to sustain the positive momentum above the $2,400 mark. The largest altcoin has pulled back above the $2,300 breakout level, suggesting that the cryptocurrency will continue to rise. If Ethereum bre

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. On the surface, things now seem very different from a year ago, with Bitcoin  (BTC) being more than double the $16,000-17,000 and the total market cap of crypto being comfortably above a trillion dollars. You might also like: Crypto 2023 in review: the most significant events that shaped the industry While the prices do indeed reflect some form of recovery partly fuelled by speculation around the approval of Bitcoin ETFs, we haven’t progress ed enough as an industry, as most of the barriers to crypto adoption still remain unresolved. It may have been a grueling crypto winter, and the resurgence of bull-posting on X (former Twitter) is a welcome contrast, but the industry needs to “regress and slow down” to make meaningful progress in 2024. Otherwise, it will basically be going through a repeat of the previous market cy

Singapore’s prime minister Lee Hsien Loong warned the public about a deepfake video, depicting him promoting a crypto scam ‘envisioned by Elon Musk.’ In an X post on Dec. 29, Singapore‘s prime minister Lee Hsien Loong has issued a public warning that addressed the emergence of deepfake video s depicting him promoting crypto scams with the help of artificial intelligence (AI) to mimic his voice and image. Recently, there have been a number of audio deepfake video s that use AI technology to mimic my voice to promote crypto scams. If you see or receive these scams promising guaranteed returns on investments or ‘giveaways’, please do not respond to them! – LHL https://t.co/pv1Vl6euAc pic.twitter.com/ogPlEeYWzw — leehsienloong (@leehsienloong) December 29, 2023 The prime minister emphasized the scammers’ use of AI to manipulate genuine footage from official events into convincing yet entirely fabricated videos. The Singapore official emphasized that scammers transform authent

India issues show-cause notices to Binance, Kucoin, and others for PMLA violations. Finance Ministry urges blocking URLs of offshore exchanges operating illegally in India. 1% tax on local exchanges prompts 3-5 million Indian users to shift to offshore platforms. In a decisive move, India’s Finance Ministry has issued compliance show-cause notices to nine major offshore cryptocurrency exchanges, including industry giants like Binance, Huobi, and Kucoin. The government accuses these platforms of operating illegally within the country’s borders without adhering to local money laundering laws. This development marks a significant step in India ’s efforts to regulate the crypto industry, with a focus on enforcing compliance with the Prevention of Money Laundering Act (PMLA), 2002. Compliance show-cause notices and URL blocking The Finance Ministry of India served compliance show-cause notices to nine major players namely Binance, Kucoin, Huobi, Kraken, Bittre

GBA Capital Fund announced at a digital economic development conference its plan to invest over $10 billion in the web3 industry , focusing on the Metaverse, NFTs, and real-world assets. The latest move by GBA Capital Fund comes at a time when web3 investments have seen fluctuating trends. From a high of $1.8 billion in the twelve months leading up to June 2022, the figure plummeted to approximately $520 million by June 2023. You might also like: CoinGecko: 75% of web3 games over last five years have failed Wu Ying of the Digital China Federation commented on the current digital landscape, highlighting the convergence of traditional and modern digital assets in Yuan assets. These assets aim to stimulate the economy in the Greater Bay Area and beyond. Li Haolong, Chairman of the World Yuan Asset Association, also spoke at the event, underscoring its importance for the industry . He described the conference as a technological guide, an industry supporter, and a showcase for

The Central Bank of Nigeria recently lifted its ban on local banks and financial institutions serving crypto currency firms. The decision, announced last week, reverses a 2021 directive restricting institutions from facilitating crypto currency transactions. While the Central Bank of Nigeria (CBN) clarified back then that it did not ban crypto trading, users shifted towards peer-to-peer trading. The reversal is expected to fuel the adoption of crypto currencies in Nigeria, one of the world’s fastest adopters of digital assets. The move allows crypto exchanges and service providers to open bank accounts, potentially boosting adoption. Yellow Card, a prominent pan-African exchange, plans to pursue a crypto license in Nigeria under the new regulatory framework introduced in May. You might also like: CBDCs could eventually replace cash, IMF indicates Lasbery Oludimu, Chief Data Protection Officer at Yellow Card, sees the new policy as creating a regulated environment that

The Hong Kong Monetary Authority and the Financial Services and Treasury Bureau jointly launched a public consultation on stablecoins. The consultation aims to gather insights on a proposed legislative framework for regulating issuers of stablecoins. The proposed framework, based on a risk-based and agile approach, includes a licensing regime. The Hong Kong Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB) are collecting public comment on a proposed legal framework for regulating stablecoin issuers.  Hong Kong Proposes As stablecoins are increasingly playing a vital role in bridging the gap between traditional finance and virtual assets, the Hong Kong government thinks it is necessary to regulate them. Utilizing a flexible and risk-based approach, the suggested framework aims to control threats to monetary and financial stability. The proposal establishes a licensing system that requires fiat-referenced stablecoin (FRS) is

Author: Bitrace Source: https://mp.weixin.qq.com/s/WiY7Ts8lylFWLcYk2b6_QQ Stablecoins are one of the crucial infrastructures in our industry, achieving value stability by pegging to the fiat currency of a specific country. Ordinary users use them as important means of storage and payment, while web3 institutions utilize them as operational tools. The diverse demand has created a flourishing stablecoin market. However, they are also exploited by illicit activities such as network fraud, online gambling, and money laundering. When ordinary investors or web3 enterprises inadvertently receive stablecoins associated with illegal activities, they may face enforcement risks. Bitrace’s research found that in the process of laundering risk crypto funds, criminals widely accept stablecoins of different risk categories that deviate substantially from the market exchange rate. Taking Tether (USDT, hereinafter referred to as U), the stablecoin with the highest market share, as an example: Black-mar

CEO of the OKX crypto currency exchange, Jay Hao, named five basic principles for listing crypto currencies on the platform. Jay Hao posted on his X account that many friends are urging him to stake more BRC-20 tokens. However, he explained why this strategy is not suitable for OKX. A lot of friends urging me list more brc-20 tokens. Thanks for these kindly suggestions. I want to clarify, as an exchange if we use the simplest strategy that is just list all tokens, I believe it may help exchange make more quick money, but will destroy the market. OKX never… — Star (@star_okx) December 25, 2023 The head of the crypto currency exchange presented five basic principles for listing specific tokens on the exchange. He indicated that before deciding to list crypto assets, one must rely on the following factors: Blockchain technology and token-based product Popularity of the token in the community The founder and team are long-term builders. Legislation and Compliance Review Re

Dec 24, 2023 at 10:51 // Price Author Coin Idol The price of Dogecoin (DOGE) is losing the battle to maintain its uptrend. Dogecoin price Analysis by Coinidol.com. Long-term forecast for the Dogecoin price: bearish DOGE has been halted three times at the $0.1050 resistance level. The bears have twice broken below the 21-day SMA support, forcing DOGE to decline. The altcoin is now trading below the 21-day SMA but above the 50-day SMA. Selling pressure on DOGE/USD will pick up again if the bearish momentum continues. The market will first fall above the 50-day

The Bulgarian Prosecutor’s Office has closed its investigation into Nexo. According to reports, the case against Nexo was closed due to lack of evidence. In January 2023, the prosecutor alleged that Nexo defaulted in tax-related offenses, banking without a license, and computer fraud. According to reports, the Bulgarian Prosecutor’s Office has closed its investigation into Nexo, a renowned crypto lender operating in centralized finance (CeFi), over lack of evidence. Last Friday, the Bulgarian News Agency reported that Nexo has not been found guilty of money laundering, tax offenses, or other criminal activities. The Bulgarian Prosecutor’s Office launched a probe into Nexo’s activities in January 2023, alleging that the crypto lender defaulted in tax-related offenses, banking without a license, and computer fraud. The prosecutor focused its searchlight on four Nexo executives, including Kosta Kanchev, Antoni Trenchev, Kalin Metodiev, and Trayan Nikolov. Ne

The Litecoin network hit the 200 million th transaction mark on Dec. 22, showcasing accelerated growth with an impressive processing of over 10 million transactions . The #Litecoin network just processed its 200 millionth transaction! Litecoin is accelerating, processing over 10 million transactions in the last two weeks!! $LTC pic.twitter.com/dVj2vro4lz — Litecoin (@litecoin) December 22, 2023 In an earlier post from Litecoin (LTC) released on Dec. 21, the cryptocurrency engineered to facilitate swift, secure, and cost-effective transactions , reported that in the previous 24-hour period, it had exhibited more active addresses than the combined total of Bitcoin (BTC) and Ethereum (ETH), with 1.4 million on-chain transactions recorded in a single day. You might also like: Litecoin trading volume jumps 30% amid halving hype Litecoin activity is on the rise again! Interestingly, the number of daily active Litecoin addresses has consistently surpassed Ethereum's s

Shan Belew predicts Litecoin will benefit from the anticipated spot Bitcoin ETF approval.  Belew said this will happen because Litecoin is the most closely related digital asset to Bitcoin.  Litecoin has been up in the past 24 hours, but investors are at a loss on the weekly price chart. Renowned pro-Litecoin advocate Shan Belew has hinted that Litecoin may be one of the beneficiaries of the anticipated market boom expected in the coming weeks.  The engineer-turned-crypto native shared this optimism in a recent post on X (formerly Twitter). Belew said the eagerly anticipated spot Bitcoin exchange-traded fund (ETF) will be heavily marketed once it sees regulatory approval.  At the moment, analysts predict approval could come in a few weeks, going by the attitude in the U.S. Securities and Exchange Commission. Alongside a boom in Bitcoin’s price, the approval is expected to usher in increased capital inflow into the cryptocurrency ecosystem.  With expec

Circle Secures French DASP License: The licensing aligns Circle with MiCA regulation. Director of European Operations and financial expert appointed to lead Circle’s compliance efforts. In a strategic move towards strengthening its foothold in the European crypto market, Circle, a prominent stablecoin issuer, has achieved a significant regulatory milestone by obtaining a conditional Digital Asset Service Provider (DASP) license in France. The licensing is complemented by the appointment of Coralie Billmann as the Head of French Operations, reflecting Circle’s commitment to aligning with European regulatory standards. Circle’s European expansion Circle’s successful acquisition of the DASP license from the French Financial Markets Authority marks a pivotal moment in the company’s European expansion. This move underscores Circle’s dedication to adhering to regulatory standards, particularly with the impending implementation of the Markets in Crypto-Assets (M

Dec 21, 2023 at 08:05 // Price Author Coin Idol The price of Bitcoin (BTC) has remained stable above the psychological price level of $40,000, although it has been unable to break through the resistance level of $45,000. Bitcoin price long-term forecast: bullish Buyers have consistently protected the key support level of $40,000 and the 21-day simple moving average. When Bitcoin fell to a low of $40,508 on December 18, the bears attempted to break a key support level as well as the 21-day simple moving average. The bulls bought the dips as Bitcoin resumed its sidewa

With the anticipation of potential approval growing, both the US Securities and Exchange Commission (SEC) and Grayscale have held yet another meeting to discuss a spot Bitcoin ETF . Bloomberg’s James Seyffart reported that the two met this week as the January 10th deadline for a decision approaches. Grayscale is one of more than a dozen potential issuers seeking to head the first-spot Bitcoin ETF in the United States. Moreover, the SEC held several meetings with potential issuers over the last several weeks to discuss necessary amendments to the applications. JUST IN: 🇺🇸 SEC holds another meeting with Grayscale to discuss its Spot #Bitcoin ETF. — Watcher.Guru (@WatcherGuru) December 20, 2023 Also Read: BlackRock Holds Another Meeting With SEC About Bitcoin ETF s Grayscale Meets With SEC As Possible Spot Bitcoin ETF Approval Nears For the last several months, the digital asset market has anxiously awaited the potential arrival of a spot Bitcoin ETF . Indeed, a host of

Montenegro court ruling seemingly boosts LUNA, LUNC, USTC surge as market optimism soars. LUNA’s 10% spike highlights the market’s positive response to legal developments. Despite volatility, LUNC and USTC show resilience post-Kwon’s extradition halt. Terra’s tokens, LUNA, LUNC, and USTC, have witnessed a significant surge in their market prices. This unexpected uptick aligns closely with the recent legal developments involving Do Kwon, the former co-founder and CEO of Terraform Labs. Notably, the Montenegro Appeals Court has overturned the decision to extradite Kwon to other countries, positively impacting investor sentiment toward Terra’s tokens. Legal Ruling Sparks Market Optimism The decision by the Montenegro Appeals Court halting Kwon’s extradition has renewed optimism within the Terra ecosystem. This judicial turn has effectively revoked the possibility of Kwon facing trials in South Korea and the U.S., at least for now.  *MONTENEGRO COURT CAN