Australian Treasurer Josh Frydenberg has announced an overhaul to the payments system to target regulations surrounding cryptocurrency, Buy Now, Pay Later (BNPL), and digital wallets. In an address to the Australian-Israel Chamber of Commerce (AICC) on Dec. 8, Frydenberg said Australia had an opportunity to be among the leading countries in the world in leveraging…
Australia to Overhaul Regulations for Crypto, Buy Now, Play Later, and Digital Wallets: Treasurer
Australia to Overhaul Regulation for Crypto, ‘Buy Now, Pay Later’, and Digital Wallets: Treasurer
Australian Treasurer Josh Frydenberg has announced an overhaul to the payments system to target regulations surrounding cryptocurrency, Buy Now, Pay Later (BNPL), and digital wallets. In an address to the Australian-Israel Chamber of Commerce (AICC) on Dec. 8, Frydenberg said Australia had an opportunity to be among the leading countries in the world in leveraging…
Third-Largest Bitcoin Whale Buys 2,702 Bitcoin Worth $137 Million
The third-largest Bitcoin (BTC) whale added $137 million to their holdings on Monday. What Happened: According to data from BitInfoCharts, the wallet holder added 2,702 BTC worth $137 million at an average price of $50,700 per coin. The whale now holds a total of 118,017 BTC worth more than $6 billion. At current prices, their…
Hillary Clinton Sounds the Alarm on China, Russia: Should We Listen?
Commentary During an interview with MSNBC’s Rachel Maddow on Nov. 24, Hillary Clinton spoke about the need to regulate the cryptocurrency market. Without necessary protections, she warned, China and Russia have the power to use the likes of bitcoin and ethereum “to their advantage.” Should we heed Clinton’s warnings? More importantly, is she right? Considering…
Bitcoin Back Over $50,000, as Market Calms After Weekend Turmoil
December 7, 2021
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bitcoinBusiness & EconomyBusinesses in COVID-19CCP VirusCompaniescryptocurrencyeconomyGold & CommoditiesInternationalInvestmentmarketMarket WatchMarketsWorld
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HONG KONG—Bitcoin rose 1.5 percent in early Asia on Tuesday, after firming overnight in line with equity markets and other risk assets, but many crypto traders remained on edge after Saturday’s sharp and sudden plunge. The world’s largest cryptocurrency was last around $50,800, having closed a choppy day on Monday 2.2 percent higher. “The general…
Decentralized Finance Criticized by BIS
In the December edition of its quarterly review of the economy and finance, the Bank for International Settlements (BIS) took aim at decentralized finance, calling the ambitions of its proponents unrealistic and expressing concern over its potentially destabilizing effect on markets. In a section titled “DeFi risks and the decentralisation illusion,” the BIS addresses the…
Bitcoin Keeps Tumbling, Billions Wiped Off Crypto Markets
Bitcoin again took a tumble on Monday after a weekend rout that took out more than a fifth of the token’s value at one point in a tumultuous period that saw more than $400 billion getting wiped off crypto markets. Currently hovering at around $48,373, Bitcoin futures are back where they were during early October….
Hackers Take $150 Million From Crypto Exchange BitMart During ‘Large-Scale Security Breach’
December 6, 2021
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Business & EconomyCompaniescrypto exchangecryptocurrencyhackersInternationalInvestmentsecurity breachTechTech NewsWorld
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Hackers have taken millions from cryptocurrency trading platform BitMart during a “large-scale security breach,” the company announced in a statement on Monday. BitMart, which provides real-time trading services including Bitcoin, Ethereum, and Tether trading, said that the hackers were able to withdraw about $150 million in assets. However, blockchain security and data analytics firm Peckshield, which was the…
‘Omicron’ the Cryptocurrency Rides New Variant Rollercoaster
November 29, 2021
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Business & EconomyBusinesses in COVID-19CCP VirusCompaniescryptocurrencyInvestmentMarketsOmicronvariantWorld
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LONDON—As global markets fell last week on news of the new Omicron coronavirus variant, one cryptocurrency with the same name soared after the Greek letter entered the investor lexicon. The price of the hitherto-obscure digital token, whose Twitter feed has little more than 1,000 followers, rose almost ten-fold from Friday to Monday morning when it…
Cryptocurrency Exchange Coinstore Enters India Despite Pending Curbs on Trade
MUMBAI—Singapore-based virtual currency exchange Coinstore has begun operations in India at a time when the Indian government is preparing legislation to effectively bar most private cryptocurrencies. Coinstore has launched its web and app platform and plans branches in Bangalore, New Delhi, and Mumbai which will act as its base in India for future expansion, its…
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