Technology

Moody’s: Cryptocurrencies Unlikely to Help Russia Evade Sanctions

May 7, 2022 0

Russia’s ability to employ cryptocurrencies to circumvent international sanctions is restricted by the limited size of the crypto market, according to Moody’s. Despite increased use in small transactions, low liquidity is another factor preventing Russians from exploiting the utility of bitcoin

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Russia’s Anti-Monopoly Agency Proposes Higher Electricity Rates for Home Crypto Miners

May 7, 2022 0

The anti-monopoly service of Russia has suggested that Russians minting digital currencies at their homes should pay more for the spent electrical energy. The proposal comes after the submission of a bill tailored to regulate cryptocurrency mining to the Russian parliament. Russian Miners Using Household Electricity Should Pay Higher Bills, Anti-Monopoly Body Says Russia’s

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US Court Fines Bitmex’s Founders $30 Million for Operating Illegal Crypto Platform

May 7, 2022 0

The founders of Bitmex have been ordered to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed must pay $10 million each. Bitmex’s Founders Fined $30 Million The Commodity Futures Trading Commission (CFTC) announced Thursday that the U.S. District Court

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US Senator Introduces Bill Prohibiting Labor Department From Interfering With Crypto in Retirement Accounts

May 7, 2022 0

A U.S. senator has introduced a bill to prohibit the Labor Department from issuing a regulation or guidance that limits the type of investments investors can choose in their retirement plans, including cryptocurrency. “Today, the Biden administration is targeting cryptocurrency. Which investment class is next?” the lawmaker stressed. Financial Freedom Act The issue of what

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3 Stablecoins Command Positions in the Crypto Economy’s Top 10, Another Fiat-Pegged Token Is Close to Joining

May 7, 2022 0

The last five weeks has been brutal for digital currencies as more than 21% has been shaved off the crypto economy’s fiat value since March 27. While all the crypto assets combined shed roughly 0.8% in the last 24 hours, bitcoin has lost 9.4% since last week and seven day statistics show ethereum has dropped […]

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Senator Elizabeth Warren Demands Answers From Fidelity for Allowing Bitcoin in Retirement Plans

May 7, 2022 0

Two U.S. senators, including Elizabeth Warren, have sent a letter to Fidelity Investments demanding answers regarding the company’s decision to allow bitcoin investments in 401(k) retirement plans. “Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of Americans’ retirement savings,” the

Technology

Square Enix Closes $300 Million Sale of Western Studios to Bankroll Blockchain Pivot

May 7, 2022 0

Square Enix, the influential Japanese gaming and publishing company, has sold its Western studios and some of its Western intellectual properties (IPs) to Embracer Group. The deal, which values these properties at $300 million, will allow the company to focus on the development of new businesses more aligned with the refined direction of the company, […]

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Spanish Securities Regulator Orders Binance to Stop Offering Cryptocurrency Derivatives

May 6, 2022 0

The Spanish securities regulator, the CNMV, has ordered Binance to stop offering cryptocurrency derivative products to customers in the country. According to local media, the crypto exchange giant has followed the orders of the regulator, withdrawing these products from its customers in Spain. Spanish Securities Regulator Sets Eyes on Binance The CNMV, which is the […]

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Peter Schiff Warns Economic Downturn in the US ‘Will Be Much Worse Than the Great Recession’

May 6, 2022 0

Following the Federal Reserve’s rate hike on Wednesday, economist Peter Schiff has had a lot to say since the U.S. central bank raised the benchmark rate by half a percentage point. Schiff further believes we are in a recession and says “it will be much worse than the Great Recession that followed the 2008 Financial […]

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Strong US Dollar Posts 5-Week High, Markets Price in a 75 bps Fed Rate Hike for June

May 6, 2022 0

While precious metals, stocks, and cryptocurrencies saw a significant downturn this week, the U.S. dollar tapped a 20-year high against the Japanese yen and a number of other currencies. The greenback has seen five weeks of consecutive gains following the Federal Reserve’s 50 basis point rate hike on Wednesday. Greenback Climbs Higher Amid Economic Uncertainty […]