Deutsche Bank partners with Bitpanda

Bitpanda

Bitpanda and Deutsche Bank have formed a partnership aimed at facilitating real-time inbound and outbound cash payments for German crypto traders. Through this collaboration, Bitpanda users in Germany will gain the ability to conduct real-time payments on the platform. This initiative is expected to enhance transaction efficiency and security while bolstering liquidity for Bitpanda’s clientele in the region. The partnership entails Bitpanda using an application programming interface (API)-based account solution provided by Deutsche Bank, enabling access to German International Bank Account Numbers (IBANs). These IBANs are internationally recognised codes crucial…

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Minister Şimşek announces taxation on cryptocurrency income in Turkey

Minister Şimşek announces taxation on cryptocurrency income in Turkey

Türkiye’s rapid strides towards taxing cryptocurrency gains signify a pivotal shift in its economic regulation policies. Key Developments in Türkiye’s Cryptocurrency Regulation In recent days, Turkey has made significant progress in the regulation and taxation of crypto assets. Finance Minister Mehmet Şimşek delivered crucial insights on the subject during his economic presentation, suggesting that comprehensive measures are on the horizon. Major Tax Reforms Underway Finance Minister Şimşek announced that several tax exemptions, reductions, incentives, and exceptions would be revoked. He also mentioned that the tax on fund incomes would be…

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Bitget Monthly Report of April 2024

Bitget Monthly Report of April 2024

April 2024 stood out significantly due to the Bitcoin Halving event and the introduction of BTC Spot ETF, which contributed to a surge in fund inflows. As the market navigated this momentum, Bitget witnessed growth in its futures trading volume, while its Bitget Wallet community eagerly anticipated the highly anticipated BWB airdrop. Furthermore, in terms of ecosystem expansion, Bitget launched PoolX and Pre-market for token listings and actively participated in events like BlockchainLife and Token2049 in Dubai. Notably, Bitget’s spot trading volume surged by over 30%, accompanied by a remarkable…

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Polkadot Launches Most Important Upgrade

Polkadot Asynchronous Backing

Polkadot is expecting to overhaul its Relay Chain protocol in the near future; however, before that happens, it has made a very important upgrade. The protocol called the latest upgrade “Asynchronous Backing,” an optimized approach for how parachain blocks are validated by the Relay Chain. How will Polkadot benefit? Upgrades on Polkadot are not new as several referendums are being voted on regularly. With Asynchronous Backing, the Relay Chain becomes 2x faster in block production. Additionally, it now becomes 3-5x more extrinsic per block, with a 6-10x boost in blockspace…

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Crypto Venture Capital Surpasses $1 Billion Mark for Second Consecutive Month

blockchain

For the second month in a row, venture capital investment in the cryptocurrency sector has exceeded $1 billion, indicating the market’s continuous expansion. April saw a total of $1.02 billion raised over 161 investment rounds, somewhat less than the previous month’s $1.09 billion from 186 deals. This achievement is a significant milestone, matching the highs achieved in October-November 2022. This accomplishment was made possible by notable fundraising efforts. Securitize, a real-world asset tokenization company, has received a $47 million investment headed by BlackRock. Monad, called the “Solana killer,” got a…

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The 4th Bitcoin Halving Explained

Halvings and Miner Revenue

Sometime in April 2024, the reward that cryptocurrency miners receive for mining bitcoin (BTC) will go from ₿6.25 to ₿3.125, with significant consequences for the world’s most valuable digital currency. To help understand this quadrennial event, we’ve teamed up with HIVE Digital to take a deep dive on historical bitcoin data from Coinmetrics to see what the three previous halvings might tell us about the fourth. Bitcoin Explained But to understand halvings, we first need to take a step back to talk a bit about how the Bitcoin network works.…

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Bluesky, Decentralized Social Project Is Open to Public

Bluesky social app

Bluesky, a decentralized social application backed by Jack Dorsey, the founder of Twitter, has officially launched for public use. This micro-blogging platform aims to establish itself as an alternative to X, previously known as Twitter and now owned by Elon Musk. Bluesky Faces Challenge in Social Media Landscape As the decentralized social media platform Bluesky opens its doors to the public, it grapples with the daunting task of carving out its niche in a crowded market dominated by giants like Twitter and Mastodon. Despite amassing approximately 3 million sign-ups during…

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Monero (XMR) To Be Delisted On Binance

Monero crypto Binance

In a surprising move, Binance, one of the leading cryptocurrency exchanges, has announced that it will remove four altcoins from its platform starting February 20th. The affected coins are Aragon (ANT), Multichain (MULTI), Vai (VAI), and the privacy-focused Monero (XMR), which has attracted the most attention. While the exact reasons for these removals remain unclear, it has sparked speculation and concerns about the changing rules for cryptocurrency exchanges. Privacy Worries and Regulatory Pressure Experts believe that Monero’s ability to keep transactions private might be a reason for its removal. Monero…

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Moody’s unveils service that uses AI to predict stablecoin depeggings

Schematic of Moody’s Digital Assets Monitor

Moody’s Analytics is launching a new stablecoin service that will use AI to predict probable depeggings “in a 24-hour time horizon” while providing real-time insights about stablecoin issuers’ liquidity and stability. The stablecoin market is getting stabler, Moody’s observed in its Nov. 6 announcement for the launch of Digital Asset Monitor (DAM). So far in 2023, there have been 1,914 depeggings, 609 of which were fiat-backed large-cap stablecoins. This compares with 2,847 in all of 2022, 707 of which were large-cap. While some correlation to rising interest rates can be…

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US Acquires 200,000 Bitcoins Through Three Seizures

Bitcoin USA

A recent report unveiled the bitcoin holdings of the Federal Government of the United States, accounting for around $5 billion worth of BTC. According to the Wall Street Journal, three recent seizures yielding over 200,000 bitcoins have made the United States one of the largest bitcoin holders in the world. Prominent Chinese reporter Colin Wu took to X (formerly Twitter) earlier today to reveal the United States’ acquisition of the largest cryptocurrency by market cap. The seized bitcoins were primarily traced to cyber criminals and darknet markets. They were stored…

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MetaMask Temporarily Removed from Apple’s App Store

MetaMask logo

On October 14, the leading Ethereum wallet, MetaMask, was temporarily removed from the Apple App Store, raising fears of a permanent ban. MetaMask, which has over 30 million users worldwide, informed the community that the problem was not caused by security concerns or malicious activity. Apple’s service regulations, which ban “unrelated background processes” such as cryptocurrency mining, are thought to be the cause of the brief removal. The company indicated that MetaMask would be available again via the App Store soon. This isn’t MetaMask’s first encounter with tech giants. In…

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Bank of China tests SIM card NFC payments for digital yuan

Bank of China digital yuan e-CNY

Bank of China, one of China’s largest state-owned banks, is testing a new offline payment method linked to SIM cards for digital yuan, or the e-CNY, the country’s in trial central bank digital currency (CBDC). Bank of China has partnered with telecommunication operators China Telecom and China Unicom to start testing the new feature on Tuesday, the bank said Monday in a social media post. The bank intends to allow users to make payments with their phones by connecting its e-CNY app with what it calls “super SIM cards” that…

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Brazilian CBDC Could Reportedly Allow Government to Freeze or Manipulate Accounts

Digital Brazilian Real

The source code for the Brazilian CBDC in testing was analyzed by blockchain dev Pedro Magalhães. Brazil has been developing a CBDC for some time now. If all goes according to plan, the digital Real will be launched sometime in 2024. Once launched, it would support retail payments for anyone inclined to use it, backing up the payment with funds in the users’ bank accounts. Planning Ahead The Brazilian CBDC would not, however, interfere with other payment methods common in Brazil, such as Pix. According to a spokesman for the…

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Binance reportedly withdraws from Austria

Binance

Cryptocurrency exchange Binance has reportedly withdrawn its application in Austria and is now focusing on achieving MiCA compliance. Binance is fighting battles on multiple fronts in 2023, as it tries to fend off the US Securities and Exchange Commission while pulling out from several markets in Europe. Specifically, the cryptocurrency exchange has left the Netherlands after it failed to secure a licence from the Dutch central bank, and it also faced an investigation in France concerning its anti-money laundering procedures. Now, reports from Finance Forward have surfaced that Binance is…

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More than 50 Crypto Tokens including ADA, LUNA, and TRX Now Considered Securities by the US SEC

tokens securities US SEC

Our cherished digital assets may not be as innocent as you think!” This line could easily be mistaken for sensationalist tabloid fodder, but unfortunately for crypto enthusiasts around the globe, it has become a startling reality. In a move that has left the world of digital currencies in a state of shock and uncertainty, the US Securities and Exchange Commission (SEC) has officially classified more than 50 popular cryptocurrency tokens – including the likes of Cardano ($ADA), Terra ($LUNA), and Tron ($TRX) – as securities. Let’s take a look at…

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