National Bank of Bahrain Launches Bitcoin Investment Product

The National Bank of Bahrain has made a groundbreaking move by launching the first bitcoin-linked structured investment product in the Gulf Cooperation Council (GCC). This innovation, developed with ARP Digital, highlights Bahrain’s leadership in fintech while offering accredited investors a secure way to tap into bitcoin’s long-term growth potential. NBB Launches First Bitcoin-Linked Investment Product…

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South Korean Lawmakers Call for Full Investigation Into KOK Token Crash

Two South Korean lawmakers have called for a full investigation into the KOK token after its value collapsed to almost zero. Victims have accused Korea’s largest newspaper of promoting the scam, sparking concerns about its role. The alleged cryptocurrency fraud has caused an estimated $3 billion in losses, affecting about 1.86 million investors worldwide. Korean…

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Nigerian Regulator Pledges to Fight Crypto Fraud

The Nigerian Securities and Exchange Commission (SEC) vows to crack down on fraud, money laundering, and market manipulation in the crypto sector. The SEC director general, Emomotimi Agama, emphasized the importance of educating investors. Lagos State Governor Babajide Sanwo-Olu said he supports regulating the crypto sector. Investor Education Nigeria’s securities regulator vows to crack down…

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Compass Mining Partners With Mindshift to Expand Bitcoin Mining in South Korea

Compass Mining has announced a partnership with Mindshift, a licensed digital asset service provider in South Korea, to extend bitcoin mining services to the region. The collaboration aims to address challenges like high electricity costs while making bitcoin mining more accessible to South Korean residents. Compass Mining Collaborates With Mindshift The partnership between Compass Mining,…

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Avalanche Powers Littio’s New USD Savings Accounts in Latin America

Littio, a Colombian neobank, has joined forces with Avalanche to offer interest-bearing USD accounts through Opentrade’s blockchain-based platform. The partnership aims to provide financial solutions to Latin Americans facing high inflation and currency devaluation. Neobank Littio Uses Avalanche to Boost Financial Services in Latin America Littio, known for its mobile banking services, is using Opentrade’s…

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Vaneck Launches $30M Fund to Boost Fintech, Crypto, and AI Startups

Vaneck, a global investment management firm, has announced the launch of a $30 million early-stage venture fund targeting fintech, digital assets, and artificial intelligence (AI) startups. Vaneck’s $30M Fund to Invest in Fintech, Digital Assets, and AI Named Vaneck Ventures, the fund will support companies in the pre-seed and seed stages, continuing the firm’s strategy…

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Microstrategy Stock MSTR Set to Surge by 64% on Bitcoin Investment Bet, Analysts Say

Microstrategy’s stock is expected to soar by 64%, fueled by its bold bitcoin investment strategy, according to Bernstein analysts. Michael Saylor’s leadership and the company’s vast BTC holdings, valued at $16 billion, have played a pivotal role in its performance. However, challenges such as net losses and bitcoin volatility could complicate this forecast, despite a…

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Bitcoin Is Digital Oil Well Fueling Rural Texas Economic Revival, Mayor Says

Mayor Ward Roddam of Rockdale, Texas, sees bitcoin mining as the key to his town’s resurgence after the devastating closure of its largest employer, Alcoa. Comparing it to Texas’ oil boom, Roddam highlights how this modern technology is creating jobs, boosting revenue, and funding essential services. With over $1 billion in investments, bitcoin mining could…

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SEC Flags Risks in Crypto and Emerging Tech Investment Scams

The U.S. Securities and Exchange Commission (SEC) is raising alarms about the growing risks of cryptocurrency scams and other investment fraud during World Investor Week 2024. Amid the rising influence of AI, social media, and aggressive financial marketing, investors are struggling to find reliable advice. The agency is focusing on scams involving cryptocurrencies, financial grooming,…

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The UAE Has Exempted VAT on Cryptocurrency and Digital Asset Transfers

October 7, 2024 at 08:20 AM GST updated: October 6, 2024 at 06:45 PM 2 mins read News The UAE eliminates VAT on cryptocurrency transfers, enhancing digital asset appeal and investment.   New regulations apply retroactively from January 1, 2018, benefiting businesses and optimizing tax positions.   Strengthened regulations support consumer protection and promote responsible marketing for…

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Swift to Pilot Digital Asset and Currency Transactions in 2025

Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges of disconnected platforms. The trials build on successful blockchain experiments, seeking…

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UAE Introduces Retroactive VAT Exemptions for Crypto Transactions

The United Arab Emirates has introduced VAT amendments that impact crypto transactions, redefining tax obligations for companies in the digital asset space. Under the new rules, businesses dealing with cryptocurrencies and other digital assets must carefully evaluate their tax positions, especially as some provisions retroactively affect transactions since 2018. UAE’s VAT Amendments Introduce Retroactive Tax…

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Bitwise Plans ETF Merger, Aims to Launch Momentum-Based Bitcoin and Ether Fund 

Asset manager Bitwise has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to merge three bitcoin and ethereum futures exchange-traded funds (ETFs) into a single fund. This new fund will utilize a momentum-based strategy, targeting both bitcoin and ether futures. Bitwise to Combine Bitcoin and Ethereum ETFs According to the SEC filing,…

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Standard Chartered Sees Buying Opportunity as Bitcoin Nears $60K Dip

Standard Chartered has cautioned that bitcoin could drop below $60,000 due to rising geopolitical tensions in the Middle East. While the bank sees this as a buying opportunity, it also highlights the unique relationship between BTC’s price and the U.S. presidential race. Former President Donald Trump’s improving odds could enhance bitcoin’s long-term outlook, but a…

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MARA Purchases Bitcoin in September, Expands Hashrate, and Holds Mined BTC

MARA, one of the largest bitcoin miners traded on the public market, acquired 192 BTC in September, while also holding onto all the bitcoin it mined during the month. MARA Strengthens Mining Operations, Grows Bitcoin Reserves to 26,842 This week, the publicly listed bitcoin (BTC) mining company MARA (Nasdaq: MARA) highlighted several operational improvements for…

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Binance Secures 20th Global Milestone With Argentina Crypto Registration

Crypto exchange Binance has achieved a significant milestone by joining Argentina’s Virtual Asset Service Providers Registry, marking its 20th global regulatory achievement. This allows Binance to expand its full range of services to Argentina-based users, further embedding itself in the country’s cryptocurrency market. Binance Joins Argentina’s Crypto Registry, Strengthens Global Compliance Crypto exchange Binance announced…

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Ripple Gets Green Light for Dubai Expansion

Ripple, a digital asset infrastructure provider, has received approval to expand its operations in Dubai. The Dubai Financial Services Authority (DFSA) granted Ripple “in-principle approval” to offer its services from the Dubai International Financial Centre. This will allow Ripple to provide seamless cross-border payment services in the United Arab Emirates and align with its goal…

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Taiwan’s Regulator Allows Professional Investors to Access Digital Asset ETFs

Taiwan’s Financial Supervisory Commission (FSC) has allowed professional investors to venture into foreign virtual asset exchange-traded funds (ETFs) via sub-brokerage. By allowing more diverse investment channels, the FSC aims to boost local brokerage operations while carefully managing the high risks of virtual assets. Stringent measures, including investor suitability checks and mandatory risk disclosures, ensure that…

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SEC’s Enforcement Chief Steps Down After Leading Over 100 Crypto Enforcement Actions

Gurbir S. Grewal, Director of the U.S. Securities and Exchange Commission (SEC)’s Division of Enforcement, will leave the agency next week. During his tenure, he led several high-profile enforcement actions, particularly in the crypto sector, targeting noncompliant platforms and insider trading, resulting in billions in penalties. Gurbir Grewal to Depart as SEC Enforcement Director The…

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Kasikornbank to Launch Thailand’s First Licensed Digital Asset Custodian

Kasikornbank Financial Conglomerate, a Thai banking giant, has said it plans to launch the country’s first licensed digital asset custodian. The service, called Orbix Custodian, is licensed by the Finance Ministry and supervised by the securities regulator. Kasikornbank is currently testing its systems before launching in early 2025. The goal is to protect investors and…

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Aussie Bank Joins MAS’ Digital Asset Interoperability Project

The Australian financial institution ANZ Bank has joined Project Guardian, a Monetary Authority of Singapore (MAS) initiative exploring the digitization of financial markets. In partnership with Chainlink Labs and ADDX, ANZ will investigate the interoperability of private blockchains for exchanging tokenized assets like commercial paper. ANZ aims to contribute to developing a stable, secure digital…

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What’s Driving Interest In The Token?

Este artículo también está disponible en español. Ripple’s XRP token amassed close to $1 billion in open interest over the weekend, while its price hovers around $0.61 at press time, data from CoinGlass shows. What’s Different About XRP Price Action? While the top two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have been down 1.5% and…

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Binance Secures Regulatory License in Kazakhstan for Crypto Trading

Binance Kazakhstan has secured a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority. This approval allows the crypto exchange to operate as a trading platform, broker-dealer, and digital asset custodian. Kazakhstan becomes the first Central Asian country where Binance has regulatory approval, positioning it as a key fintech hub. Binance…

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Robinhood Crypto Launches Crypto Transfers for European Users

Robinhood Crypto has introduced a major new feature for European users, allowing them to deposit and withdraw over 20 different cryptocurrencies. The new crypto transfer service includes a limited-time 1% deposit match. With this launch, the platform also reinforces its focus on self-custody, security, and decentralized finance (defi) accessibility. Robinhood Crypto Rolls Out Crypto Transfers…

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Japan to Review Crypto Regulations, Potentially Easing Tax Burden

Japan is reportedly set to review its cryptocurrency regulations, potentially reducing taxes on digital assets. The Financial Services Agency (FSA) plans to assess whether current crypto regulations under the payments act provide sufficient investor protection. The review may lead to reclassifying crypto as financial instruments under Japan’s investment law, which could enhance safeguards and bring…

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FCA Secures First Conviction for Illegal Crypto ATM Operation in UK

Olumide Osunkoya has pleaded guilty to illegally running a crypto ATM network across the UK. Even though the UK Financial Conduct Authority (FCA) denied his registration, his operation handled millions in cryptocurrency transactions. This case represents the first conviction of its type under the UK’s anti-money laundering laws. UK’s First Illegal Crypto ATM Conviction Unveiled…

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Fiat Currency vs. Cryptocurrency: Understanding the Key Differences

September 30, 2024 at 02:23 AM GST updated: September 29, 2024 at 07:47 PM 2 mins read News In cryptocurrencies, decentralization is the exact opposite of what has been witnessed with the centralization of powers within institutions. Blockchain technology provides complete and secure transactional transparency. This is because cryptocurrency prices are volatile; it has one…

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Malicious Crypto-Stealing App Exposed on Google Play

An app on Google Play was discovered stealing cryptocurrency from users, employing advanced social engineering and trusted protocols. Check Point Research exposed the app after it had siphoned $70,000, deceiving over 150 victims. The attackers used the Walletconnect protocol to appear legitimate, manipulating Google search rankings and avoiding detection through encryption and obfuscation techniques. Malicious…

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5 CeFi Platforms to Watch

September 30, 2024 at 06:23 AM GST updated: September 29, 2024 at 08:36 PM 2 mins read News Different CeFi platforms have gradually integrated DeFi elements due to the desire to deliver high yields. CeFi platform adoption continues to depend on user education as well as risk management strategies. CeFi space is rapidly evolving because…

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Dutch Regulator Warns of Crypto Pump-and-Dump, New Regulation to Ban These Schemes

The Dutch Authority for the Financial Markets (AFM) has issued a warning about the dangers of pump-and-dump schemes in the cryptocurrency space, as new regulations prepare to target this market manipulation tactic. The upcoming Markets in Crypto-Assets Regulation (MiCAR), effective from Dec. 30 will ban these practices. AFM Sounds Alarm on Crypto Pump-and-Dump Schemes The…

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Promising Digital Assets Ready for a Bull Run

September 29, 2024 at 03:13 AM GST updated: September 28, 2024 at 07:16 PM 2 mins read News Avalanche’s multi-chain setup handles 6,500 transactions per second, boosting scalability and adoption. Dogecoin’s fanbase and Elon Musk’s support have helped it grow despite market volatility. TRON moves from ERC-20 to its blockchain, enhancing its decentralized ecosystem and…

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Bybit Expands in CIS Region With Kazakhstan License for Crypto Services

Crypto exchange Bybit has secured a major license in Kazakhstan, marking its expansion in the Commonwealth of Independent States (CIS) region. With its new regulatory approval, Bybit plans to offer a broad range of services including digital asset trading and crypto loans, while emphasizing Kazakhstan’s growing influence in the global crypto ecosystem. Bybit Secures Key…

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