Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. Blockchain venture capitalist firm Nodeseeds has announced the launch of a three-tier membership system to democratize its investment process. Nodeseeds revealed further details in a blog pos t on its medium page. Fair Allocation Tier System According to the post, Nodeseeds stated that the tiers were designed to ensure fair allocation of bonuses to NDS token holders. The three-tier system is divided into Seed Members, Private Members, and Anchor Members. Seed Members is the entry-level tier and the minimum requirement to qualify is to hold 25 NDS tokens. Some of the perks include early access to some projects and discord rooms. Participants also get 2x referral rewards but are limited in their access to get lottery allocations of forfeited funds. Private Members is the intermediate tier and eligible for users with a minimum of 350 in their portfolio. Members have guaranteed allocations for projects ranging from $500 to $1500. Other benefits include 2.5x referral r...

Binance, the leading cryptocurrency exchange by trading volumes, announced it is discontinuing its derivatives and futures products in Germany, Italy, and the Netherlands. This is likely the consequence of the regulatory crackdown that governments all over the world have exerted on Binance lately. The company also stressed this was the start of a complete plan to wind down their derivatives products offerings across the European region in a now-deleted tweet. Binance Discontinues Derivatives Offering in Germany, Italy, and the Netherlands Binance , one of the biggest cryptocurrency exchanges, has announced it will be winding down its derivatives and futures products in Germany, Italy, and the Netherlands, three countries that belong to the European Union. In its official statement , Binance stressed: As the crypto ecosystem evolves globally, we are continually evaluating our products and working with our partners to meet our users’ needs. Binance could be making reference to the...

Bank of America has outlined some benefits to be had from adopting bitcoin as legal tender in El Salvador. The opportunities include low-cost remittances, financial digitization, more choices, and greater investments from foreign companies. Bank of America Highlights Opportunities Bitcoin Brings to El Salvador as Legal Tender Bank of America (BOA) outlined some potential benefits in El Salvador adopting bitcoin as legal tender in a report published last week. The analysts, including Latin American strategist Claudio Irigoyen, explained that “The market has been excessively pessimistic about it and is overlooking any argument in favor, even if those benefits are admittedly more uncertain.” Firstly, the report details: Bitcoin could be used as an intermediary for cross-border transfer … Using bitcoin for remittances could potentially reduce transaction costs compared to traditional remittance channels. The Bank of America analysts further noted that bitcoin’s volatility could b...

Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, and Rep. Ted Budd have also voiced concerns. Lawmakers Oppose Crypto Tax Provision in Infrastructure Bill The U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a statement by Ranking Member Pat Toomey Monday on a provision in the bipartisan infrastructure package that would tax cryptocurrency transactions. The statement reads: Congress should not rush forward with this hastily-designed tax reporting regime for cryptocurrency, especially without a full understanding of the consequences. By including an overly broad definition of broker, the current provision sweeps in non-financial intermediaries like miners, network vali...

South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut Down South Korea’s top financial regulator, the Financial Services Commission (FSC), will reportedly shut down 11 cryptocurrency exchanges, The Korea Herald reported Monday, citing unnamed industry sources. The 11 crypto exchanges allegedly used fraudulent collective bank accounts and the FSC plans to notify prosecution and police of the alleged illegal activities, the sources added, noting that the exchanges will find it impossible to get approvals from the FSC to continue their businesses. The names of the exchanges have not been disclosed. Crypto exchanges must obtain approval from the FSC by Sept. 24 to continue operations. ...

A new proposal of a digital transformation law, written by a group of lawmakers in Spain would introduce the possibility of paying mortgages with cryptocurrency. The law draft also gives different incentives for companies and organizations using and developing solutions using these technologies, including tax cuts. Banks are also included in the regulation, and the draft includes the use of smart contracts for managing some processes in these organizations. Spain Would Include Crypto in Its Mortgage System A new draft of a digital transformation law, presented by a group of lawmakers from the Popular Party in Spain, would regulate and legalize several new technologies like cryptocurrency, blockchain, and AI in the country. Among its numerous proposal, it contemplates the possibility of house owners paying their mortgages with cryptocurrencies, enticing the use of these assets as means of exchange. But the proposal also extends this functionality to investment firms to create their ...

Fun and excitement have been let loose for players to experience amazing new games at Bitcoin.com’s very own crypto gaming portal! An enthralling range of games are on offer at Bitcoin.com Games – the crypto casino that players have come to love to play their favorite games on in recent years. Ever since its inception back in 2016, the casino portal has quickly become a favorite amongst crypto enthusiasts owing to the wide variety of games, a robust platform, and the trustworthiness of the Bitcoin.com brand. With undeniably exciting games from highly sought-after gaming providers such as BGaming, Playson, Pragmatic Play, and more, the crypto casino is now upping the ante by adding a slew of new titles from another premium provider- iSoftBet . Players can now enjoy massively popular hits such as Aztec Gold Extra Gold Megaways, Fu Fortunes Megaways, Twisted Tale Series: Moriarty Megaways, and many other high octane slot games from the newly-added developer. Bitcoin.com Games is ...

Regional reports from China indicate that government officials have been reviewing over 5,100 small-sized hydropower plants in order to get them to adapt to China’s cleanup and rectification process concerning future energy sources. China has pledged to be carbon neutral and ultimately have zero carbon emissions by 2060 and the recent crackdowns on bitcoin miners and small power plants have been fueled by this goal. Sichuan, Yangtze River Hydropower Plants Feel the Aftermath of the Recent Crackdowns on Energy Production and Consumption in China During the last few months, China’s goal to get net carbon emissions down to zero in 39 years has affected bitcoin miners and small power plants in five different provinces. China’s president, Xi Jinping, surprised the world when he said China was committed to reducing emissions down to zero. Bitcoin miners and small power facilities started to feel the effects of China’s goal to drastically reduce emissions when reports surfaced from Inne...

A U.S. congressman has introduced the Digital Asset Market Structure and Investor Protection Act. The legislation would “provide the Securities and Exchange Commission (SEC) with authority over digital asset securities and the Commodity Futures Trading Commission (CFTC) with authority over digital assets.” Digital Asset Market Structure and Investor Protection Act U.S. Representative Don Beyer introduced the Digital Asset Market Structure and Investor Protection Act last week. The legislation would incorporate digital assets into existing financial regulatory structures, according to an announcement posted on his official website. The congressman said: Digital assets and blockchain technology hold great promise, and it is clear that assets like bitcoin and ether are here to stay. Unfortunately, the current digital asset market structure and regulatory framework is ambiguous and dangerous for investors and consumers. “Digital asset holders have been subjected to rampant fraud, th...

Matrixport, the digital currency financial services company co-founded by the former Bitmain CEO Jihan Wu, has revealed the company has raised $100 million in a Series C financing round. The funding has propelled Matrixport’s valuation to unicorn status as the firm now has a valuation of over $1 billion. Matrixport Now Valued at $1 Billion, Company Raises $100 Million in Series C On Sunday, the company Matrixport, a financial services firm that specializes in cryptocurrency solutions, management, and custodial services, revealed the company has raised $100 million from a slew of strategic investors. The $100 million Series C funding round was led by DST Global, C Ventures, and K3 Ventures. Additionally, other investors include A&T Capital, Foresight Ventures, Lightspeed, Polychain, Dragonfly Capital, CMT Digital, and IDG Capital. The Singapore-based start-up Matrixport plans to use the financing to continue bolstering the company’s expansion. Matrixport details that to date, t...

Mastercard’s CEO has outlined the company’s plans to develop products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). “We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies,” said the CEO. Mastercard Wants a Role in All 3 Crypto Areas Payments giant Mastercard provided an update of its cryptocurrency plans during the company’s earnings call Thursday. CEO Michael Miebach explained that his company wants a role in three crypto areas. In addition to cryptocurrencies, such as bitcoin, the company also focuses on the private sector’s stablecoins, and central bank digital currencies. He affirmed: We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies … This is a relevant technology. As a multi-rail player, we got to be in this space because people are looking for answers. For cryptocurrency, Miebach explained: “We’re making it easier ...

Established in 2013, the firm Grayscale Investments has managed to become the world’s largest asset manager for digital currency. While initially starting with bitcoin, the company has since added a myriad of different crypto assets as Grayscale commands $36.34 billion in assets under management (AUM) between 13 different digital currencies. While the asset manager has a large sum of bitcoin, ethereum, and ethereum classic, lately Grayscale has been stacking a great number of other coins. Grayscale’s Attention Is Seemingly Focused on Alternative Crypto Assets Since the asset manager started seven years ago, Grayscale Investments has accumulated a lot of cryptocurrencies. As it stands today, the company is the largest asset manager globally when it comes to cryptocurrency management. The company first introduced the Grayscale Bitcoin Investment Trust ( OTCQX: GBTC ) and ever since then, it has added 12 unique cryptocurrencies to the firm’s investment products. Data provided by 1000...

Buda, a Chile-based cryptocurrency exchange, has started requesting selfie verification every time a user needs to withdraw funds to a new bitcoin address. This new measure now introduces a new layer of security for users to avoid getting their accounts hacked, but it will only be mandatory for those that don’t have 2FA activated. Buda Exchange to Request Selfie to Make Withdrawals to New Addresses Buda , a Chile-based exchange formerly known as Surbtc, will now implement new security measures to protect its users from hacking attempts. The platform will now require the user to send a selfie verification every time a withdrawal to a new bitcoin address is requested. However, this will only affect users that have not activated their two-factor authentication (2FA) measures. The measure was announced in a mail delivered to the customers of the exchange on June 22, when it asked users to enable their 2FA option in order to be excluded from having to comply with this new measure every...