The global monetary watchdog has advised El Salvador to exercise caution in expanding government exposure to Bitcoin (BTC) due to the “speculative nature” of crypto markets. A Feb. 10 statement from the International Monetary Fund (IMF) emphasized Bitcoin’s risks to El Salvador have “not materialized” yet due to the country’s “limited” use of Bitcoin. IMF staff
A major Brazilian bank is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies. According to a statement published by Brazilian bank Banco do Brasil on Feb. 11, it is now “possible” for Brazilian taxpayers to pay their tax bill with crypto, in a joint initiative with Brazilian-based crypto firm
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat Illegal Crypto Mining Operations Police in Abkhazia are conducting daily raids to
To power their mining operations, Bitcoin miners either purchase electricity from conventional and renewable energy sources or develop and run their own renewable energy facilities, turning them into energy consumers. Miners typically purchase electricity from energy providers, such as utility companies or independent power producers, to mine BTC. They then use that electricity to power
The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — have released a report on the company’s physical assets in the island nation. According to an affidavit filed by a PricewaterhouseCoopers partner with the Bahamas’ supreme court on Feb. 8, FTX’s joint provisional liquidators, or JPLs, said the company
Top Stories This Week Kraken reaches $30M settlement with SEC over staking as IRS seeks user information Kraken has agreed to stop offering staking services or programs to United States clients after reaching an agreement with the U.S. Securities and Exchange Commission (SEC). Along with ceasing operations, the crypto exchange will pay $30 million in
The Chinese government is setting up a national blockchain innovation center in Beijing to focus on industrial applications and major use cases of blockchain technology, particularly those related to the Chinese economy. China Establishing New Blockchain Center China’s Ministry of Science and Technology has approved the establishment of a blockchain research center called the National
While Satoshi Nakamoto is credited as the anonymous creator of Bitcoin (BTC), what often goes unnoticed are the selfless contributions of the community members — miners, developers, designers, hodlers and investors — that help materialize the original vision. However, one such significant contribution was found to carry an imperfection for over 12 years, invisible to
Will 2023 finally see an explosion of crypto gaming? The signs are mixed, with former play-to-earn darling Axie Infinity falling out of favor and hemorrhaging players, while mainstream gamers report that Web3 games still have playability issues. The bright spot is that AAA games are finally starting to emerge in Web3, with projects like Illuvium
Shiba inu continued to move away from a recent one-week low on Saturday, as the meme coin rebounded to start the weekend. Although overall sentiment remains bearish, prices are starting the weekend relatively stronger. Litecoin also rebounded in today’s session. Shiba Inu (SHIB) Shiba inu (SHIB) saw its price climb marginally higher to start the
Bitcoin (BTC) is beginning its “seventh bull cycle,” and investors should not be scared of crypto post-FTX, Pantera Capital believes. In its latest “Blockchain Letter” on Feb. 8, the asset management firm’s CEO, Dan Morehead, predicted that 2023 would be a “year for rebuilding trust.” Morehead: Crypto assets have “seen the lows” this cycle With
Mining is the process of extracting valuable minerals, metals and other resources from the earth. This may entail extracting minerals from underground deposits or from the earth’s surface. The minerals and resources extracted through mining are used for a wide range of purposes, including energy production, construction and manufacturing. Mining can take many forms, including
In the latest episode of NFT Steez, Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, discusses the integration of interoperability in Web3 and the metaverse. By definition, interoperability is a feature of Web3 whereby a product or system can work seamlessly across platforms with other products or services. Webb defines interoperability simply
Kazakhstan, one of the biggest Bitcoin (BTC) mining hubs in the world, announced plans to introduce new crypto regulations aimed at reducing tax fraud and unlawful business operations. A new law signed by Kazakh President Kassym-Jomart Tokayev on Feb. 6 reinstated the nation’s stand against the unlawful mining operations and issuance of crypto assets. Out
A new crypto mining facility is being built in the Russian Republic of Buryatia with support from a government-affiliated company. Construction of the infrastructure for the large-scale project is already underway, carried out by a subsidiary of Russia’s largest mining operator, Bitriver. Bitriver Building Large Data Center for Cryptocurrency Mining in Buryatia, Siberia A 100-megawatt
The United States Securities and Exchange Commission is ramping up pressure on the crypto sector. On Feb. 9, the SEC reached a $30 million settlement with Kraken over the centralized staking program it offered to its users. The news of the crackdown sent the price of Bitcoin (BTC) to a three-week low as investors became
Bitcoin (BTC) saw no relief at the Feb. 10 Wall Street open as United States equities dipped further. “All eyes” on 200-day moving averages Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tracked sideways following a volatile 24 hours of trading. Existing market weakness was compounded by an announcement from U.S. regulators
The Ethereum Foundation team announced another milestone on the road to the Shanghai upgrade, with the Shapella fork on the Zhejiang testnet moving into the final pre-launch sequence, according to a blog post on Feb 10. The Shapella transition includes “many features,” and “most importantly to stakers and the consensus-layer, is the enabling of withdrawals,”
The parts that make up the cryptocurrency ecosystem are not all equal, United States Federal Reserve Board governor Christopher Waller told a conference audience on Feb. 10. He had clear preferences among the three elements of the ecosystem that he identified. Waller was hosted by the Global Interdependence Center at its “Digital Money, Decentralized Finance,
Bitcoin (BTC) price and the wider crypto market corrected at the start of this week, giving back a small portion of the gains accrued in January, but it’s safe to say that the more experienced traders expected some sort of technical correction. What was unexpected was the SEC’s Feb. 9 enforcement against Kraken exchange and