Hong Kong working on investor protection regulations, says central bank exec

Hong Kong crypto

Central bank governors from around the globe are currently in Thailand to discuss the role of central banks amid evolving financial technology. The conference is jointly hosted by the Bank of Thailand (BOT) and the Bank for International Settlements (BIS). A panel discussion on digitalized monetary systems saw Eddie Yue, chief executive of the Hong Kong Monetary Authority, Changyong Rhee, governor of the Bank of Korea, Adrian Orr, governor of the Reserve Bank of New Zealand and Cecilia Skingsley from Bank for International Settlements discuss the rise of digital assets…

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Putin wants to create new worldwide payment system

Bitcoin Russia

Over the weekend, Russian President Vladimir Putin raised the proposal of building a new blockchain-based global payments system for international settlements. Putin said that the new system shall involve a digital currency for transactions and must be independent of banks and third-party interferences. The latest announcement from the Russian President came while speaking at a Sberbank-organized artificial intelligence conference. Mr. Putin said that the existing global payments and financial transactions between countries are in jeopardy. This has been mainly due to the rising tensions between Russia and the West. Also,…

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Brussels to Put Out Digital Euro Law Shortly, ECB’s Lagarde Says

President of European Central Bank Christine Lagarde

The European Commission is going to present a legislative proposal for a digital euro in the near future, President of European Central Bank Christine Lagarde has indicated. EU legislators are expected to define the new currency’s legal tender status and determine its privacy features. EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in the euro area have already made good progress in exploring the rationale and the potential benefits and risks of a central bank digital currency (CBDC), the head of the European Central Bank (ECB) noted during…

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Chinese central bank exec says digital yuan will offer ‘controllable anonymity’

Governor Yi Gang's Interview by CGTN

Chinese central bank governor Yi Gang, in a recent speech at Hong Kong Fintech Week, talked about the progress of their national digital currency called the digital yuan. He outlined the progress and the adoption of the national digital currency. During his speech, Yi noted that the digital yuan is being positioned as an alternative to cash in China, a country with a robust digital payment infrastructure. He added that “privacy protection is one of the top of the issue on our agenda.” He went on to describe the two-layer…

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$740M in Bitcoin exits exchanges

Bitcoin exchange netflow from all exchanges Source CryptoQuant

The amount of Bitcoin flowing out of cryptocurrency exchanges picked up momentum on Oct. 18, hinting at weakening sell-pressure, which could help BTC price avoid a deeper correction below $18,000. Bitcoin forming a “bear market floor” Over 37,800 BTC left crypto exchanges on Oct. 18, according to data tracked by CryptoQuant. This marks the biggest Bitcoin daily outflow since June 17, wh traders withdrew nearly 68,000 BTC from exchanges. Moreover, over 121,000 BTC, or nearly $2.4 billion at current prices, has left exchanges in the past 30 days. A spike in…

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Hacker steals $950,000 from crypto vanity address as exploits continue

hacker NFT

A hacker has stolen $950,000 in ether from a crypto wallet via the same vanity address exploit linked to an attack on trading firm Wintermute last week. The hacker stole 732 ETH on Sept. 25 and sent it directly to the sanctioned cryptocurrency mixing service Tornado Cash, according to PeckShield citing on-chain data. Here it will have been mixed with other cryptocurrency and withdrawn to the hacker’s own wallet. The exploit was made possible due to the recent vanity address weakness that was picked up on GitHub in January but…

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Apple Guzzling 30% Commission on In-App NFT Purchases, New Report Reveals

A report by The Information claims that Apple is pressuring companies to pay its customary 30% fee for in-app purchases on all NFT trades, discouraging startups from providing services to the users of the tech giant. “So far, though, most see some obstacles, including the up to 30 percent commission Apple charges on in-app purchases, as well as pricing conventions that are difficult to apply to volatile digital assets,” the report added. The media outlet also quoted Magic Eden’s co-founder and chief technology officer, Sidney Zhang, who revealed that because…

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Abu Dhabi regulator introduces its ‘guiding principles’ for crypto

Abu Dhabi

The Financial Services Regulatory Authority (FSRA), the financial regulator of Abu Dhabi Global Market free economic zone (ADGM), published its “Guiding Principles” on its approach to digital asset regulation and supervision. Friendly in tone to the crypto industry, the principles pledge to comply with international standards in Anti-Money Laundering (AML), combating the financing of terrorism (CFT) and supporting financial sanctions. Five principles were published without date specification on the official webpage of the ADGM. They go under the titles of Internationally Recognised Regulatory Framework, Dynamic and Market-Oriented Regulations, Risk-focused and…

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ETH whales move holdings onto exchanges before Merge

Ethereum’s top 10 exchange and non-exchange wallets Santiment

The top 10 Ethereum non-exchange addresses have seen an 11% decline in their holdings over the past three months, while on-exchange whale addresses have seen a 78% increase. The Ethereum blockchain is slated for one of the most significant updates since its inception as it transitions from its current proof-of-work mining consensus to a proof-of-stake (PoS) one. The Merge date is scheduled for Sept. 15, after the successful Goerli testnet integration — the final testnet merger before the actual transition. Ether (ETH), Ethereum’s native token, saw a bullish surge in…

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China begins next phase of CBDC testing with e-CNY payment for public transport

China train

According to multiple sources China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible to pay for public bus rides with the digital yuan (e-CNY) CBDC on 10 transit routes, which is a first for the country. To do so, passengers simply need to download the e-CNY app, deposit funds and scan the QR code located in the bus payment section to pay for their ride. Similarly, the day before, the city of…

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Bitcoin threatens 20-month low monthly close with BTC price under $20K

BTC-USD 1-month candle chart TradingView

Traders are increasingly betting on a deeper dive to June’s lows or even beyond, with $20,000 struggling to hold. Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD criss-crossing $20,000 with hours until the weekly candle completed. The pair had been unable to make up for lost ground over the weekend, and just days from the end of the month, even $20,000 appeared vulnerable as support. At the time…

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Over $100 million worth of NFTs have been stolen since July 2021

$100 million worth of NFTs have been stolen since July 2021

Elliptic, a London-based blockchain analysis provider has revealed that over $100 million worth of Non-Fungible tokens’ have been stolen between July 2021 and July 2022. NFTs had their debut on mainstream media and crypto in 2021 with explosive interest and return on investments following the launch of well-known NFT drops like the Bored Ape Yacht Club (BAYC) and Mutant Apes (MA). Despite being popularized in 2021 with the growth of NFT collections all over the world, the origins of NFTs can be traced back to 2012/13. TNFTs are cryptographic assets…

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Aussies buy fuel and chips with crypto across 175 fuel outlets

Australia crypto research

Commenting on the rollout, Crypto.com’s Karl Mohan tipped the adoption of an AUD-backed stablecoin as being the catalyst to make crypto payments mainstream in Australia. Convenience store and petrol station brand On The Run (OTR) has launched crypto payment support across all 175 of its petrol stations and convenience stores across Victoria, South Australia (SA), and Western Australia (WA) as of Thursday. As previously reported, the move is part of a collaboration between OTR, Singapore-based exchange Crypto.com and DataMesh, a Sydney-based payment systems provider. The exchange has provided its Pay…

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Elon Musk Says He Will Continue Supporting Dogecoin “Wherever Possible”

Dogecoin Musk support

Tesla CEO Elon Musk said he will continue “supporting Doge wherever possible” in reaction to the news that The Boring Company is now accepting Dogecoin as payment for a ride. Elon Musk has been a backer of Dogecoin ever since he stated in April 2019 that the meme coin was his favorite cryptocurrency. He has since been a strong supporter of Dogecoin, tweeting about everything from having SpaceX put a “literal Dogecoin on the literal moon” to mining the meme token with his children. In the weeks leading up to…

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MicroStrategy will hold onto its Bitcoin however the market performs

Instagram michael_saylor

The recent market downturn has spurred Michael Saylor to publicly state that MicroStrategy is not in danger of being liquidated. The company’s financial reports seem to back his claim. Michael Saylor insists that MicroStrategy is not at risk of liquidation despite the recent Bitcoin crash. The MicroStrategy CEO retweeted a May 10 post today in which he laid out the company’s financial situation. In the original post, MicroStrategy claimed that it would only be at risk of getting liquidated on a $205 million loan it received to buy Bitcoin if…

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