Regulators in Ukraine, Russia Tell Banks to Block Certain Types of Crypto Transfers
Banks on both sides of the Russia-Ukraine war are taking measures to restrict the flow of crypto funds overseas, with central banks keen to limit private citizens from making crypto-related cross-border transactions through banks. Forklog’s Ukraine service reported that PrivatBank, one of Ukraine’s largest commercial banks, had “temporarily banned its clients from transferring” fiat hryvnia holdings to crypto exchanges, claiming […]
Indian Crypto Tax Move, Shorting Coinbase, FTX and Gemini in New Markets + More News
Taxes news India won’t allow losses incurred in a particular digital asset to be set off against income from another version of a crypto holding, Bloomberg reported, citing a junior finance minister. “We fear the lack of provision to offset losses will drive away users from KYC-compliant exchanges and platforms to the underground peer-to-peer grey market, […]
‘Developing Economies’ Tracking El Salvador’s Bitcoin Moves with Interest
Conventional financial managers are still skeptical about El Salvador’s prospects of launching a new economic paradigm on the back of a forthcoming bitcoin (BTC) bond issuance. But other nations may be looking to the Central American nation with keen interest – hopeful of following suit if El Salvador’s move to adopt BTC as legal tender last year pays […]
Goldman Sachs Executed Cash-Settled Bitcoin Options Trade – Reports
Source: Adobe/Rafael Henrique Investment banking giant Goldman Sachs is “close to announcing” that it is the first major bank in the US to trade an over-the-counter (OTC) crypto transaction, per multiple reports. The bank traded a non-deliverable bitcoin (BTC) option – a derivative tied to the BTC price that pays out in cash – with crypto merchant bank Galaxy […]
The Future of Ethereum Sucks, and I Feel Fine
Technology ecosystems tend to take off when the technology matches the use case and solves a really important problem. This works even if the technology itself can be a little clumsy. Yet sometimes new use cases will arise based on the fact that the platform is widely available, even if it’s not an ideal fit. […]
Ethereum Fees Drop to the Lowest Rate in 4 Months, 71% Lower Than Transfer Fees in January
The average transaction fee on the Ethereum network has dropped to the lowest level in four months, according to statistics on February 13, 2022. Mid-September 2021 was the last time gas fees on Ethereum were this low, as average fees have dropped to roughly $15.13 per transfer. Ethereum Fees Slide Lower It costs less to […]
Bandana Wearing Cryptopunk NFT Smashes Records Selling for $23 Million in Ethereum
The Cryptopunks non-fungible token (NFT) collection has seen a new record as the NFT Cryptopunk #5822 sold on Saturday for 8,000 ether or more than $23 million. The new owner of the NFT, Deepak Thapliyal, the CEO of a blockchain firm called Chain explained that he used leverage via Compound Finance in order to acquire […]
Southeast Asia’s Largest Bank DBS to Launch Crypto Trading for Retail Investors
DBS, the largest bank in Southeast Asia, is planning to launch crypto trading for retail investors this year, the bank’s CEO has revealed. He added that in the first half of this year, DBS will focus on making “access to digital assets a lot more convenient.” DBS Bank to Offer Crypto Trading to Retail Customers […]
SEC Warns Against Interest-Bearing Crypto Accounts — Says They’re Riskier Than Bank Deposits SEC
The U.S. Securities and Exchange Commission (SEC) has warned investors about the “risks with accounts that pay interest on crypto-asset deposits.” The warning coincides with the first enforcement action the agency took against crypto lending platforms. SEC Warns About Risks in Interest-Bearing Crypto Accounts The U.S. Securities and Exchange Commission’s Office of Investor Education and […]
Here’s what Gensler discerns about the XRP-Ether security v. not a security debate
In a recent Fox Business News interview, the SEC chair offered some more clarity with respect to regulations, with the focus being on the evergreen security v., not a security debate. Obsolete regulations Specifically outlining what falls under the purview of security, Gensler went on to highlight how in the 1930s, after the collapse of the […]