Bitcoin News and Finance: What You Need to Know

Pavel Durov, CEO of Telegram, has hinted at a series of Web3 enhancements coming to the popular messaging platform. Durov talked about the benefits that tradable usernames and channel links might have in the future, creating a marketplace where users could use them in the same way Ethereum Name Service addresses are utilized. Telegram Might Receive Web3 Enhancements Digital companies are starting to see benefits that Web3, NFTs, and user-led digital marketplaces might bring to their operations. Pavel Durov, CEO of Telegram, one of the most popular messaging services linked to crypto, has hinted at the integration of some Web3 services into the platform. Durov examined the success of a recent domain name auction on the TON network where more than 2,000 domains were sold for prices as high as $260,000. TON is the platform that Telegram dropped in 2020 due to a restraining order requested by the U.S. Securities and Exchange Commission (SEC) for selling alleged unregistered securiti...

The CEO of a major cryptocurrency exchange, Bitstamp, says that his trading platform is seeing “massive crypto interest” from institutional clients. “Many institutional companies are looking to make their first move into crypto,” he explained. Bitstamp’s CEO on Crypto Regulation, Institutional Interest Bitstamp’s global CEO, Jean-Baptiste Graftieaux, shared his view on cryptocurrency regulation in an interview with Business2community, published Monday. Discussing crypto winter, he explained that Bitstamp has “a very active licensing journey across all the regions – 10 in progress globally.” The executive added that his crypto exchange will increase its regulatory footprint over the next couple of quarters in order to be “in a strong position to fully participate in the next bull run.” He shared, “We see a strong trend on the institutional side,” elaborating: Many institutional companies are looking to make their first move into crypto – there is massive crypto interest from our ...

Despite the apparent slow embrace of the e-naira digital currency by Nigerians, the Central Bank of Nigeria governor has said his institution is targeting a tenfold increase in the number of users of the digital currency in the next twelve months. The governor predicted that the use of cash will “dissipate to zero” while the “use of digital currency will increase to become part of our lives.” E-Naira to Become Available to All Nigerians Some ten months after its launch, the app for the Nigerian central bank digital currency (CBDC) — the e-naira — has now been downloaded 840,000 times, a report has said. This revelation suggests that less than one million Nigerians have embraced the digital currency that the CBN touts as a better alternative to volatile cryptocurrencies. The revelation of the number of times the e-naira app has been downloaded follows reports of growing Nigerian interest in cryptocurrencies. For instance, early this month, Bitcoin.com News reported that a survey h...

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After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of his government. Largest Benchmark Rate Hike Since 2002 In an attempt to tame the country’s runaway inflation rate, which topped 31.7% in July, the Ghanaian central bank hiked the benchmark interest rate by 300 basis points. Following the latest hike, which is the largest increase on record since 2002, Ghana’s benchmark interest rate is now 22 percent. According to a Bloomberg report , the latest increase means Ghana’s benchmark rate has now risen by 550 basis points since November 2021. In addition to increasing the benchmark rate, the Bank of Ghana (BOG) revealed in its emergency monetary policy committee (MPC) press release that it plans gradually increase b...

Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a government official said. Imports Association: Iran Needs Stable Crypto Regulation Alireza Managhebi, the chairman of Iran’s Importers Group and Representatives of Foreign Companies (Imports Association), voiced concerns about the country’s crypto regulation Saturday, local media reported. He stressed that a stable regulatory framework for cryptocurrencies should be established for cryptocurrencies to be successfully used as a means of payment for imports. Noting that crypto can be useful in this regard under the right regulatory infrastructure, Managhebi said: Our main and most important concern is that this new method cannot be exploited by some people. “The...