Seychelles-based cryptocurrency exchange Huobi has reportedly suspended futures and leveraged trading for new customers in some countries, raising questions about the regulatory scrutiny facing digital assets. As reported by Bloomberg, Huobi is limiting these services in a handful of jurisdictions but didn’t specify which countries would be affected. There was also no word on why
Bitcoin’s (BTC) general downtrend continued on Monday morning despite the coin showing a strong 17% rebound overnight. As the coin continues to nurse wounds from its recent 43% price drop from an all-time high, more turbulence could yet be in store for Bitcoin and the broader cryptocurrency market. Several large Bitcoin miners opted to cease
Russian lawmakers are reportedly weighing a partial reversal of the country’s ban on cryptocurrency payments. Pavel Krasheninnikov, chairman of the Russian Duma’s Committee on State Building and Legislation, announced that the government is considering amending civil law to allow crypto payments as a “contractual medium.” According to Interfax on Monday, Krasheninnikov noted that cryptocurrencies like
Last week’s market-wide price crash caused central banks around the world to issue warnings about the risks of investing in cryptocurrencies. The Central Bank of Kuwait was no exception, and on Saturday, it issued a statement to warn the public about volatility in cryptocurrency markets. The Central Bank of Kuwait stated that crypto assets are
Uganda’s Financial Intelligence Authority wants the government to come up with clear-cut crypto regulations. According to a report by Ugandan media outlet Daily Monitor on Monday, the FIA has asked the country’s finance ministry to develop a legal framework for cryptocurrency regulations in Uganda. Sydney Asubo, executive director of the FIA, made the call during
The Fed’s governor has argued that The United States must be at the forefront of developing a central bank-issued digital currency, or CBDC, to bolster the role of the U.S. dollar as a global reserve currency. In a May 24 announcement, Federal Reserve Governor Lael Brainard asserted that leading CBDC projects could have a “significant
As the debate surrounding crypto regulations heats up, tax professionals are taking a more cautious approach to deal with Bitcoin (BTC) and other earnings. The United States-based tax preparation service company H&R Block is looking for more precise regulations before handling their customers’ crypto holdings. Answering tax-related questions on CNBC, H&R Block CEO Jeff Jones
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on “Blockchain, Crypto and
The Bank of Indonesia is one of the latest global central banks to announce state digital currency plans amid a major spike in the country’s digital payments. Governor Perry Warjiyo said Tuesday that Indonesia’s central bank is planning to launch a digital rupiah currency as a legal payment instrument in Indonesia, Reuters reports. The official
sponsored The payment industry has gone through a revolution in the last few years. Among its most evident examples are international commerce and remote work. Blockchain and cryptocurrency have transformed online transactions by ensuring true ownership, security, speed, accessibility, and inclusivity. Nowadays, people are used to buying something and paying seamlessly, or receiving compensation through
Uganda’s Financial Intelligence Authority (FIA) says it wants the country’s Finance Ministry to help formulate a regulatory framework for crypto service providers. According to the FIA, this call for the government’s intervention has prompted by the Ugandan crypto industry’s failure to comply with an earlier plea for industry players to register. Terrorism Concerns Furthermore, in
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After Tesla’s Elon Musk and Microstrategy CEO Micheal Saylor revealed the revelation of a newly created “Bitcoin Mining Council,” the news became a viral subject. While some crypto supporters like the idea, others have been skeptical of a couple of billionaires having closed-door meetings with North American bitcoin miners. Bitcoin Mining Council Brings Back Memories
Decentralized finance (DeFi) was one of the driving forces behind this year’s surge in the cryptocurrency market as projects like Yearn.finance (YFI), Aave (AAVE) and Uniswap (UNI) quickly climbed to ‘blue-chip unicorn’ status and older protocols like Maker (MKR) and Compound (COMP) saw their prices skyrocket to new record highs. But as the old saying
Bitcoin (BTC) is circling $35,000 at the start of the week after a fresh dip panics weak hands and fuels a whale feast — what’s next? After hitting $30,000 in a “capitulation bottom” event, a rebound to $42,000 had many thinking the worst was over for Bitcoin. The weekend proved them wrong. Cointelegraph takes a
Bitcoin (BTC) could shoot higher if it completes a W-shaped bottom, says veteran analyst John Bollinger. In a tweet on May 24, the Bollinger Bands creator told traders to “stay tuned” for a possible lucrative continuation signal on BTC/USD. W-shaped bottom at “logical place” Last week, Bollinger called Bitcoin’s rebound from $30,000 to $42,000 “logical”