Brokers and banks in crypto

This past summer, a Switzerland-based blockchain investment company called CV VC, and a Swiss audit and advisory firm known as PwC, in collaboration with Cointelegraph, put together an in-depth report on the top blockchain companies and what they are up to in their distinct sectors. The report lists eight separate categories. Cointelegraph hosted a previous panel on Sept. 9 discussing blockchain’s impact on the art industry — the first category on the list. Moving down that list, Cointelegraph hosted a second live panel on YouTube on Sept. 22, talking about…

Crypto mining activities are now regulated by the Venezuelan gov

Venezuela’s National Superintendency of Crypto Assets and Related Activities, or SUNACRIP, has issued the first decree to officially regulate all crypto mining activities. In order to qualify, miners will need to meet specific requirements. An official announcement was first published in the Gaceta Oficial and signed by the head of the SUNACRIP, Joselit Ramirez. It stated that residents in Venezuela who are interested in mining Bitcoin (BTC) and other cryptocurrencies must request a license and join the so-called “national pool.” The legal framework asks people to disclose what kind of…

Colombian gov’t invites companies to trial its crypto transaction framework

The government of Colombia has approved on September 22 a pilot program that calls companies to test crypto transactions until December 31 within the regulatory sandbox just passed by the country’s financial watchdog. During a panel titled “Overview of the Regulation of Crypto Assets in Colombia,” Jorge Castaño, head of Colombia’s Financial Superintendence (SFC), revealed that companies wishing to trial crypto transactions should apply by the end of the year, as the pilot will run in 2021. The new regulatory sandbox was approved by the Ministry of Finance and Public…

Could holding 0.28 BTC could put you in the 1% wealth bracket?

A large portion of Bitcoin’s (BTC) value lies within its limited 21 million coin supply, which means ownership of a small portion could lead to significant wealth — if mass global adoption occurs.  “There is only 0.0027 BTC for the current 7 billion people,” trader, Bitcoin evangelist, and Twitter personality Davincij15 said in a Sept. 22 tweet, noting the worlds total population in relation to Bitcoin’s total supply. Davincij15 is known for his early Bitcoin commentary, which harkens back to the asset’s early days in 2011. “If you HODL 0.28 BTC, and…

Bloomberg suggests that Bitcoin should be $15,000 according to this adoption metric

According to the Bloomberg crypto newsletter, a key on-chain indicator suggests that Bitcoin (BTC) is currently greatly undervalued.  Bitcoin active addresses, the 30-day average. Source: Glassnode. Bloomberg’s crypto analyst Mike McGlone believes that the recent all-time highs in Bitcoin’s hashrate and more importantly, the 30-day average of active Bitcoin addresses, suggests a $15,000 price level for the asset: “The Bitcoin hash rate continues to increase and recently reached new highs. Also advancing are addresses used. A top metric for adoption, the 30-day average of Bitcoin addresses is equivalent to the…

Part 3 — The extraterritorial reach of US securities laws

As mentioned in the first and second parts of this story, on March 24, 2020, in a widely reported and closely followed decision, Judge Peter Castel imposed a sweeping preliminary injunction preventing Telegram from issuing its planned crypto asset, Grams. Shortly thereafter, the judge clarified his initial ruling by explicitly holding that the injunction applied to all sales worldwide regardless of where the original purchasers might be located. Efforts by Telegram to see that the Grams would not easily be resold into the United States were unavailing. This part of…

Russian government prioritizes Blockchain development

Russian First Deputy Prime Minister Andrey Belousov, addressing the higher chamber of the Russian parliament on Wednesday, named blockchain as one of the technologies that the government will prioritize in the near future. Belousov said that the government will support technologies that facilitate the interactions between the state and the largest corporations. In addition to blockchain, he named a number of other key technologies: AI, quantum computing, new materials, quantum sensing, microelectronics, Internet of Things, 5G technologies, quantum communications and energy. Belousov also said in order to foster the development of…

Whales profit mightily from lucrative DeFi yield farming: Data shows

Decentralized Finance has taken crypto by storm providing holders with a wide range of options to earn high-yield returns on their crypto and stablecoin holdings. DeFi has not only led to huge rallies in the prices of governance and reward tokens like YFI and LEND but it has also given way to a new-found interest in cryptocurrencies. The release of liquidity protocols like Uniswap and Curve gave way to an explosion in DeFi, with even institutional clients gaining interest in acquiring yield on their crypto holdings. Now, the subsequent explosion…

Rise of DeFi wars? Uniswap’s UNI token airdrop starts a crypto rivalry

Uniswap’s new UNI token has created a buzz in the DeFi world, with over 13,000 users claiming their tokens within three hours of its launch. This move was in response to SushiSwap’s decision to migrate almost $1 billion of funds from Uniswap through a “vampire mining” attack, which is the migration of an exchange’s funds/liquidity to another source. This move by SushiSwap essentially sparked one of the more important rivalries in decentralized finance, led by Sam Bankman-Fried, CEO of crypto derivatives exchange FTX. Sam briefly took over SushiSwap from its…