Day: June 3, 2021

UK FCA buys another 9 months to review crypto companies’ registrations

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The United Kingdom’s Financial Conduct Authority (FCA) has extended the end date of crypto-asset companies’ temporary registration from July 2021 to March 2022. The Temporary Registrations Regime, or TRR, was established last year to enable crypto businesses to continue trading while their registrations were still being assessed by the FCA. With the latest announcement, any crypto companies that applied before Dec. 16, 2020 have temporary registration until March 31, 2022. After becoming the supervisor of Anti-Money Laundering and Counter-Terrorist Financing measures for crypto companies in the United Kingdom, the FCA…

Apple co-founder Steve Wozniak loses Bitcoin scam case against YouTube

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A recent court ruling said that video hosting giant YouTube is not responsible for cryptocurrency-related scams posted on its platform. Apple co-founder Steve Wozniak failed to support his lawsuit against YouTube over an advert using his image to promote a fake Bitcoin (BTC) giveaway, Bloomberg reports. Santa Clara County Superior Court Judge Sunil Kulkarnia said in a tentative ruling Wednesday that YouTube and its parent firm Google are protected by Section 230 of the Communications Decency Act — a federal law shielding internet platforms from responsibility for content posted by…

New DeFi ‘passport’ could enable under-collateralized crypto loans

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Decentralized finance (DeFi) protocol Arcx has announced the launch of Sapphire v3, a DeFi passport allowing crypto users to pseudonymously build and verify their reputation on-chain. Announced June 2, the DeFi passport will score users on a scale between 0 and 1,000, with Arcx advancing that the passport “incentivizes reputation-building and curates on-chain identity into DeFi.” In the absence of a DeFi passport, Arcx asserts that “protocols are left to treat every user the same, occasionally giving preferential consideration to wallet size, institutional backing, or restrictive KYC.” Arcx expects its…

Norton360 antivirus tool will allow its 13 million customers to mine Ethereum

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Cybersecurity firm, NortonLifeLock, has launched Norton Crypto, a tool allowing consumers to “safely” mine cryptocurrency through its Norton 360 product. From June 3, select 360 users will be invited to join Norton’s early adopter program for Ethereum mining. Norton also plans to open up the mining service to all of its nearly 13 million 360 customers in the coming months. Norton emphasized that its service allows users to mine without requiring they switch off their antivirus software. Speaking to CNN Business, Norton noted it plans to support mining of other…

Satoshi Nakamoto to be immortalized in bronze near the Steve Jobs statue in Budapest

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Bitcoin’s anonymous creator Satoshi Nakamoto is set to be depicted in a life-size bronze statue in Budapest, the capital city of Hungary. According to local news outlet Hungary Today, sculptors, Réka Gergely and Tamás Gilly are designing the statue, and have unveiled initial plans depicting a figure with a featureless face wearing a Bitcoin hoodie. Image: Réka Gergely The hood is over the figure’s head, and the face will be made from a reflective surface so that viewers can see themselves mirrored back when they look at the statue —…

Bitcoin is money and should be taxed the same

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Former presidential candidate and congressman Ron Paul has renewed calls for Bitcoin to be legalized as money and not taxed. Paul is a staunch libertarian and author of the Bitcoiner favorite “End the Fed,” who has advocated for the legalization of Bitcoin and other cryptocurrencies in the past. The former congressman has also regularly taken aim against the Federal Reserve for its unchecked money printing since the pandemic began. Ahead of his appearance at the Miami Bitcoin conference on June 3, the 85 year-old spoke with  streaming financial news provider…

ConsenSys throws its weight behind Uniswap DeFi lobbying proposal

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Ethereum solutions provider ConsenSys has pledged support for a Uniswap governance proposal to set aside tokens for a new decentralized finance (DeFi) fund for political lobbying. The proposal was made on May 27 by the Harvard Law School Blockchain and FinTech Initiative for the creation of a fund that would finance existing and new political groups engaged in crypto policy-making and lobbying to defend DeFi against regulation. The Harvard Law BFI proposal cited concerns that governments around the world may try to regulate DeFi without proper education and suggested a…

Bitcoin Still Struggling Near $38K, Here’s Why 100 SMA Is The Key

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Bitcoin price made another attempt to clear the $38,000 resistance against the US Dollar, but it failed. BTC is correcting lower, but it might find bids near the 100 hourly SMA. Bitcoin is still facing a strong resistance near the $38,000 zone. The price is currently trading well above $36,500 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $36,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above $36,000 and the 100…

Ripple seeks docs from 15 offshore exchanges it says could be ‘fatal’ to the SEC’s charges

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Ripple CEO Brad Garlinghouse and co-founder Chris Larsen, have filed a motion requesting the U.S. Securities and Exchange Commission investigate Bitfinex’s parent company, iFinex, and 14 other international crypto exchanges. The June 2 motion requests documents from exchanges including iFinex, Bitforex, Bithumb, Bitlish, BitMart, AscendEX (formerly Bitmax), Bitrue Singapore, Bitstamp, Coinbene, HitBTC, Huobi Global, Korbit, OKEx, Upbit Singapore, and ZB Network Technology The motion’s supporting memorandum notes the letters of request solicit assistance from authorities in the Cayman Islands, Hong Kong, South Korea, the United Kingdom, Singapore, Seychelles, and Malta.…

ECB says digital euro may be needed to combat ‘artificial currencies’

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The European Central Bank has warned that a CBDC or digital euro may be required to head off the spectre of “artificial currencies” dominating cross-border payments. In ECB’s annual review of the euro dubbed “The international role of the euro”, economists Massimo Ferrari and Arnaud Mehl conveyed concerns over the rise of artificial currencies led by unnamed “foreign tech giants” — likely a veiled reference to Facebook’s Diem project: “One concern could be a situation in which domestic and cross-border payments are dominated by non-domestic providers, including foreign tech giants…