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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

Coinbase is the latest crypto firm to take an axe to its workforce, outlining plans to lay off around 1100 people – 18% of its workforce – as it looks to cut costs in the face of “current market conditions”. In an SEC filing, the firm says it will reduce its workforce to about 5000 this quarter – by 30 June. The move will cost between $40 million and $45 million in severance and other termination benefits. Coinbase had already put in place a hiring freeze and rescinded a host…

Read More