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Breaking | India: ‘No proposal to recognize Bitcoin as a currency,’ says FM
The winter session of the Indian Parliament commenced today and as expected, cryptocurrencies are also on the agenda. Out of the 26 draft legislations to be tabled, the crypto-bill is one of them, with the contents of the same fueling a lot of FUD recently.
Source
↪️https://t.me/Cryptocurrency_Inside
Bitcoin processes more dollar value than PayPal, could surpass Mastercard by 2026
Bitcoin’s network has overtaken PayPal in the amount of dollar value it processes and could soon match that of Mastercard as it already processes 27% of its value.
Market intelligence platform Blockdata has suggested in a new report Bitcoin could outstrip credit card giant Mastercard in the number of dollar transactions value processed.
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↪️https://t.me/Cryptocurrency_Inside
Remember when Logan Paul dropped $600K on an NFT? It's now worth $4,000. That's a loss of more than 99%.
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↪️https://t.me/Cryptocurrency_Inside
UK digital services tax targets crypto exchanges
Britain’s crypto exchanges will be levied with a 2% tax which is likely to be passed on to investors warned CryptoUK.
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↪️https://t.me/Cryptocurrency_Inside
Germany's new ruling coalition calls for 'joint European supervision' of crypto in ruling agreement
A trio of political parties in Germany struck an agreement this week that will see them assemble a national governing coalition. Part of that agreement, according to the German-language text, includes a call for European countries to work together to monitor activities in the crypto sector.
Source
↪️https://t.me/Cryptocurrency_Inside
Ripple co-founder Jed McCaleb hasn’t sold XRP in 3 months, still holds $730M
Ripple co-founder Jed McCaleb was on average dumping $8 million in XRP every day earlier this year. Then, he stopped selling altogether.
The post Ripple co-founder Jed McCaleb hasn’t sold XRP in 3 months, still holds $730M appeared first on Protos.
Source
↪️https://t.me/Cryptocurrency_Inside
🗞️ Vitalik Buterin proposes an upgrade to Ethereum to reduce gas fees
Vitalik Buterin, famous co-founder of Ethereum, proposed the introduction of a new limit to the transaction calldata in each block, in order to reduce gas costs on the network.
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↪️https://t.me/Cryptocurrency_Inside
New COVID Variant FUD Drives Bitcoin Down To $54k
The news of the latest COVID variant is invoking a fresh wave of FUD among investors, with Bitcoin crashing down to $54k, and markets across the board slipping into the red.
Source
↪️https://t.me/Cryptocurrency_Inside
Bitcoin dumps $2,000 within minutes as new COVID strain detected
Global markets reacted shortly after news broke out of a new COVID strain found in South Africa.
Bloomberg reported risk assets like emerging market currencies, bonds, and stock slid this morning, while treasuries and ‘safer’ European bonds surged.
Source
↪️https://t.me/Cryptocurrency_Inside
Kazakhstan could turn to nuclear power to keep its Bitcoin mining industry running
Kazakhstan's President Kassym-Jomart Tokayev suggested building a nuclear plant to support bitcoin mining and offer refuge to migrant crypto miners from China.
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↪️https://t.me/Cryptocurrency_Inside
Bitcoin is a rules-based monetary system the likes of which we've never seen. – Ark Invest CEO on CNBC
↪️https://t.me/Cryptocurrency_Inside
Ethereum Has Burned More Than a Million ETH Over the Last 3 Months
111 days ago, the Ethereum network implemented the London hard fork upgrade which added a mechanism (EIP-1559) that changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Since then 1 million ether has been burned or the equivalent of around $3.8 billion worth of ethereum using today’s exchange rates.
Source
↪️https://t.me/Cryptocurrency_Inside
Pokemon Go developer Niantic releases an Augmented Reality game on which you can earn BTC
Best known for creating the augmented reality mobile games Ingress and Pokémon Go, the software company Niantic revealed it has partnered with the bitcoin rewards company Fold.
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↪️https://t.me/Cryptocurrency_Inside
Stablecoin Issuers and Exhanges Urged to Be Transparent on How They’re Protecting Consumers and Investors
The head of the U.S. Senate banking committee sent letters on Tuesday to stablecoin issuers and exchanges urging them to be more transparent about how they are protecting consumers and investors following multiple risks highlighted in the recent report by the President’s Working Group on Financial Markets.
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↪️https://t.me/Cryptocurrency_Inside
🔥NFL's Odell Beckham jr. to take 100% of his Salary in Bitcoin.
National Football League (NFL) wide receiver Odell Beckham Jr. will take his entire new salary in bitcoin through a partnership with Cash App, the athlete announced on Twitter.
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↪️https://t.me/Cryptocurrency_Inside
Bitcoin Mining Company Griid Secures $525 Million Credit Facility From Blockchain.com
On Monday, the mining firm Griid Infrastructure announced the company has secured a $525 million credit facility from the crypto firm Blockchain.com. According to the announcement, the credit facility will be a four-year term in order to increase the company’s mining capacity.
Source
↪️https://t.me/Cryptocurrency_Inside
🗞 Bitcoin (BTC) Dominance Dips below 42%, BTC’s market cap is down by more than $150 billion in the last 7 days.
With a market cap of $1.08 trillion, Bitcoin is the world's most dominant crypto asset and accounts for 41.9% of the overall cryptocurrency market. Due to the strong performance of altcoins, Bitcoin is struggling to maintain its current market dominance levels.
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↪️https://t.me/Cryptocurrency_Inside
Binance Lost 3% of its Customers Due to KYC Demands
In a Bloomberg interview with CZ, which is the nickname of Binance CEO, Changpeng Zhao, discussing Binance’s newly released ‘10 fundamental rights for crypto users,’ he admitted that his exchange, the largest exchange by volume, lost about 3% of its customers due to the KYC requirements the company imposed as a result of regulatory pressure.
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↪️https://t.me/Cryptocurrency_Inside
The IRS seized $4 billion worth of Bitcoin and other cryptos this year
Between 2020 and 2021, the IRS seized around $3.5 billion in crypto which is roughly 93% of all the funds seized by the tax agency.
While these seizures appear huge, the federal tax agency has indicated that it could be making more crypto funds seizures by next year. Per IRS, it expects more funds to be seized as crypto is being commonly used to perpetrate crimes and other similar illegal activities.
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↪️https://t.me/Cryptocurrency_Inside
