Month: June 2021

Indian central bank remains anti-crypto, affirming ‘no change’ in its stance

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Its infamous circular directing banks to cease servicing crypto firms may have been overturned in the courts but India’s central bank is showing no signs of softening its stance towards cryptocurrencies. Reserve Bank of India Governor Shaktikanta Das reiterated the institution’s position in a recent press conference following a statement on monetary policy, stressing: “We have major concerns around cryptocurrency, which we have conveyed to the government.” The governor’s comments come after the Reserve Bank of India had been prompted to clarify that banks should not continue to cite the Reserve…

Filecoin ignores Elon Musk’s Bitcoin FUD as FIL price rockets by 17%

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FIL, the native crypto asset of the Filecoin network, was among the best performing digital assets Friday as it maintained its gains against a very bearish cryptocurrency market. The FIL/USD reached an intraday high of $102.109 at around 0300 UTC, up more than 37% on a 24-hour adjusted timeframe. The pair underwent a sharp correction later on profit-taking sentiment but sustained its 24-hour gains by staying upward of 17%. In contrast, Filecoin’s top rivals Bitcoin (BTC) and Ether (ETH) were down more than 6% and 7%, respectively, as of 0945…

Feast or famine on Dogecoin as Coinbase pump triggers whales’ return

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Some of Dogecoin’s (DOGE) observable metrics depict a blockchain in violent flux amid the fallout from the meme coin’s Coinbase Pro listing. The dollar amount sent across the blockchain in a single day exceeded $47 billion on Thursday — a 690% increase on the figure from less than a week before. Dogecoin’s price climbed 40% in a single day shortly after Coinbase announced it would open its doors to Doge deposits on Coinbase Pro on Tuesday, June 1, with a view to commencing trading on June 3. Trading across five…

DoJ to Prioritize Ransomware Attacks with Terrorism: Report

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Key Takeaways The Department of Justice has established a task force to tackle ransomware attacks. The attackers behind the recent Colonial Pipeline incident reportedly received their $5 million ransom in cryptocurrency. Critics have claimed that cryptocurrencies have enabled ransomware attacks. Share this article A senior Department of Justice official has revealed that the U.S. will give similar priority to ransomware attacks as terrorism, according to a Reuters report. The news comes after the major cyber-attacks affecting Colonial Pipeline. Ransomware Damages Cost Billions The Department of Justice (DoJ) will give ransomware…

51 crypto firms withdraw licensing applications in the UK

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Strict Anti-Money Laundering laws in the United Kingdom appear to be constituting a major operational hurdle for crypto firms in the country. According to the U.K. Financial Conduct Authority (FCA), several crypto businesses in the country might be preparing for an exit. In a release issued on Thursday, the regulatory agency revealed: “A significantly high number of businesses are not meeting the required standards under the Money Laundering Regulations. This has resulted in an unprecedented number of businesses withdrawing their applications.” According to a report by The Guardian, 51 companies…

Major Philippine e-wallet GCash eyes crypto trading

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GCash, a major digital wallet in the Philippines, is reportedly considering introducing crypto trading services. GCash CEO and president Martha Sazon announced that the firm is looking at offering users the ability to buy, sell and store cryptocurrencies like Bitcoin (BTC) on its platform. In a Monday interview with The Philippine Star, Sazon said that GCash is exploring cryptocurrency trading in order to keep up with financial innovation. “While we may be considered a disruptor now, it is important in this digital age that we should be mindful of all…

Bloomberg report calls Bitcoin ‘refreshed and discounted’ as BTC price bounces at $36K

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Bitcoin (BTC) bounced off a predicted floor on June 4 as the dust settled on the latest market collision with Elon Musk. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoiners poke fun at Musk’s “break-up” Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as the pair recovered to levels nearer $37,000 on Friday. Previous strength this week, which had seen a push toward $40,000, abruptly ended in defeat after Musk released another cryptic tweet. In it, the Tesla CEO appeared to suggest that he had moved on from Bitcoin…

Bitcoin price slumps $2K on Musk’s ‘in the end’ tweets

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Tesla CEO Elon Musk has brought more stress to the cryptocurrency markets by posting another series of cryptocurrency-related tweets on Thursday. Bitcoin lost around $2,000 in a matter of hours after Musk took to Twitter to post about Bitcoin (BTC) again. The Bitcoin price reacted immediately, dropping from around $38,700 to $37,500 in an hour. Bitcoin continued falling as Musk kept tweeting more cryptic posts in the thread including another breakup-themed tweet on falling crypto prices as well as a post on Dogecoin (DOGE). pic.twitter.com/MLhu6oOwgc — Elon Musk (@elonmusk) June…

Olympic NFT pins and games, world’s first intelligent NFT and more

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Playboy, the lifestyle and entertainment brand famous for its distinctive logo — among other things, has launched its first collection of five animated NFTs, on a new NFT market placed dubbed “Raretoshi” which is backed by Blockstream’s Liquid sidechain. The NFTs were unveiled during the lead up to the 2021 Bitcoin Miami conference on June 3: Announcing Reimagining the Rabbit: Miami, Playboy’s first collection of animated NFTs, featuring @aylaelmoussa @mbsjq @rek0de @JonNoorlander– Debuting 6.3.21 at Bitcoin 2021 on the Raretoshi marketplace. Video credit: Ayla El-Moussa. Learn more at https://t.co/2JkHnyq3J9 pic.twitter.com/fUSCHuvYuS…