Tencent shuts down NFT platform as gov policy makes it impossible to thrive
While NFTs are not banned in China like cryptocurrencies, the government has warned against fraud risks associated with the nascent sector. Source link
Bitcoin fights key trendline near $20K as US dollar index hits new 20-year high
Nothing can keep the U.S. dollar index (DXY) down this year, and concerns over its impact on assets beyond crypto are spreading. Source link
OKX to extend offers in Dubai after securing a provisional license
Crypto exchange OKX has acquired a provisional virtual assets license granted by the Dubai Virtual Assets Regulatory Authority (VARA), allowing them to offer additional services to qualified investors and financial services providers in Dubai, United Arab Emirates (UAE). In a statement, the OKX team told Cointelegraph that the license allows them to extend products and…
Read more
Hyosung America makes Bitcoin purchasing app available to 175,000 ATMs
Hyosung America has signed a partnership deal with cash-to-crypto provider DigitalMint that enables Bitcoin (BTC) purchasing across the firm’s 175,000 ATMs located in the U.S. Apart from offering its own BTC and Litecoin (LTC) payment rails such as ATMs, bank wires and tellers, DigitalMint also provides software API integrations that allow retailers or ATM operators…
Read more
Celsius vows to return from bankruptcy but expert fears repeat of Mt Gox
Crypto lending platform Celsius confirmed on July 13 that it has initiated Chapter 11 bankruptcy proceedings in the Southern District Court of New York. The announcement was shared on the company’s Twitter and shared with account holders via email on July 13, with a vow to “emerge from Chapter 11 positioned for success in the…
Read more
Celsius reportedly filing for bankruptcy ‘imminently’
Crypto lending platform Celsius has reportedly filed for Chapter 11 bankruptcy, with its lawyers starting to notify individual U.S. state regulators as of Wednesday, July 13. The news was reported by CNBC and referred to an unnamed source, who asked not to be named as the proceedings were private. They said that the company planned…
Read more
US Senate confirms Michael Barr as Fed vice chair for supervision
The United States Senate has confirmed the nomination of law professor Michael Barr to become the next vice chair for supervision for the Federal Reserve. In a 66-28 vote on the Senate floor on Wednesday, U.S. lawmakers confirmed Barr as vice chair for supervision of the Federal Reserve System for four years, filling the last…
Read more
BIS committee and IOSCO issue guidance for regulation of stablecoin arrangements
The principle of “same risk, same regulation” for crypto received further confirmation with the release Wednesday of new guidance on stablecoin arrangements (SAs). The guidance, issued by the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO), applies the Principles for Financial Market Infrastructures (PFMI)…
Read more
UK court allows lawsuit to be delivered via NFT
According to a Tuesday notice from U.K. law firm Giambrone & Partners, a case brought by Fabrizio D’Aloia against Binance Holdings, Poloniex, gate.io, OKX, and Bitkub over allegations someone was operating a fraudulent clone online brokerage has resulted in a legal precedent offering a digital solution to serving someone. On June 24, the judge in…
Read more
How Bitcoin’s strong correlation to stocks could trigger a drop to $8,000
The absence of a CME Bitcoin futures premium, unrelenting record-high inflation and investor concerns over the economy are all factors weighing on BTC price. Source link