Bitcoin News and Finance: What You Need to Know

Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the authority is trying to get a clearer idea of their financial state, knowledgeable sources say. Singapore Regulators Send Crypto Firms Questionnaire, Expect Prompt Response The Monetary Authority of Singapore ( MAS ) has sought to acquire detailed information from cryptocurrency firms operating under its license and also some of the applicants, Bloomberg revealed , quoting people familiar with the matter who chose to remain anonymous. The central bank sent a “granular questionnaire” last month, awaiting quick answers. According to the report, the regulator has asked the companies to provide data regarding the crypto assets they hold, their main lending and borrowing counterparties, the amount loan...

A new report shows that India has roughly 115 million crypto investors, and the country’s crypto economy is growing despite the recent market downturn, with more than half of the crypto investors surveyed planning to increase their crypto investments in the coming six months. Indian Crypto Ecosystem Is Growing, Report Shows Cryptocurrency exchange Kucoin published a report on India’s cryptocurrency ecosystem Tuesday. It features the results of a survey, conducted from October 2021 to June 2022, which the company described as “an in-depth look into the development of the blockchain industry and crypto space” in India. The survey respondents were 2,042 Indian adults aged 18 to 60, the company explained, adding that 1,541 of them were self-identifying crypto investors and 501 were crypto-curious consumers, who were interested in investing in crypto in the coming six months. Citing the survey results, the report details that as of June: There are roughly 115 million crypto investor...

The Denver-based gas-to-bitcoin infrastructure company Crusoe Energy is suing the rival firm Alkane Midstream LLC over alleged patent infringement and poaching customers in Colorado. Crusoe’s lawsuit claims since November 2019, “Alkane was actively monitoring Crusoe and its business.” Crypto Flare Mitigation Company Crusoe Files a Lawsuit Against the Texas-Based Alkane Midstream Gas-to-bitcoin flare mitigation company Crusoe Energy filed a lawsuit against the company Alkane Midstream on August 22, 2022. The gas-to-bitcoin infrastructure firm is asking the Denver division of Colorado’s federal court to order Alkane to stop infringing on two patents. The lawsuit obtained by Bitcoin.com News also claims Alkane caused Crusoe to lose work after two gas and oil refiners backed away from agreements made with the company in November 2021. The two gas and oil producers are called the “Colorado Producers,” and are not officially named in the lawsuit filed against Alkane. “Alkane has infri...

Law enforcement in Afghanistan has shut down over a dozen crypto exchanges in Herat, detaining the people who were running them. The offensive comes after the introduction of a ban on online foreign exchange that the Taliban seem to have applied to coin trading as well. Taliban Government Goes After Crypto Trading in Afghanistan Citing Scamming as Motive Afghan security forces have closed down a number of crypto exchanges in the western Herat province in the past week, the English-language Ariana News portal reported on Tuesday. At least 16 platforms trading digital currencies have been shut down, the outlet unveiled. The report quotes the head of the counter-crime unit of the Herat police Sayed Shah Sa’adat who reminded that Da Afghanistan Bank ( DAB ), the country’s monetary authority, said in a notice that crypto trading had caused lots of problems, including scamming people. He also stated: We acted and arrested all the exchangers involved in the business and closed their sho...

The overwhelming majority of Russians in big cities are well aware of the term cryptocurrency but those with a good understanding of the topic are quite a small proportion, a new poll has indicated. Experts say that currency restrictions imposed earlier this year are helping growth in interest and adoption. A Third of Russians Ready to Buy Crypto Assets Within Months Just 6% of Russian internet users understand cryptocurrencies relatively well, although 80% have heard about them. The findings come from a survey conducted by hardware wallet developer Tangem among 2,100 residents of Russian cities with a population exceeding 100,000. Some 45% of the respondents have a positive attitude towards the digital coins and almost an equal number (46%) are neutral, while 9% view them negatively, the company established. Being able to earn capital gains is the main motive for those willing to buy, while the assets’ lack of backing is the key factor for rejection. Close to a third (31%) of th...

With a cryptocurrency ownership rate of 10%, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” the latest Finder’s report has said. The report also noted that South Africa’s proportion of crypto owners holding bitcoin, 52%, is the third highest out of 26 countries. Just Over Half Own BTC According to Finder’s crypto adoption trends report for August 2022, about four million people, or 10% of South Africans, are cryptocurrency holders. With this crypto ownership rate, South Africa is ranked eighteenth out of twenty-six countries for crypto adoption, the Finder’s report said. Also, according to the report, South Africa’s crypto ownership rate of 10% is five percentage points lower than the global average of 15%. Regarding the cryptocurrencies held or owned by South Africans, the report said half of the respondents own bitcoin while the remaining half is split between three altcoins. “As it stands, roughly 5% of those surveyed in South Afric...

No privacy. No property. No prosperity. If you follow the news, you’ve seen the trend — putting legal limits on cash transactions, the emergence of surveillance-oriented, central bank digital currencies (CBDCs), and more recently, crypto mixing platform Tornado Cash being sanctioned by the United States Treasury. There is a new wave of propaganda increasingly demonizing individual financial privacy and “private” cryptocurrencies and protocols. You’ve likely experienced the dystopian push in your own life, as banks and financial institutions demand more and more sensitive, personal information, and freeze your hard-earned money while telling you to prove you are not a criminal or terrorist before you may access it. World Economic Frustration What is a “canary in a coal mine”? The Free Dictionary defines it as “Something or someone who … acts as an indicator and early warning of possible adverse conditions or danger.” The saying hearkens back to the “practice of taking caged canaries...

Authorities in two Chinese cities are promoting the digital yuan as a payment method in the public transportation system. Commuters on the subway of Ningbo and those taking the bus in Guangzhou will be able to purchase their tickets using the state-issued digital currency. Residents and Visitors of Another 2 Chinese Cities to Pay Transit Fares With Digital Yuan Ningbo Rail Transit, the operator of the subway system in the city of Ningbo in the eastern Chinese province of Zhejiang, has launched payments in digital yuan , the central bank digital currency ( CBDC ) issued by the People’s Bank of China. The company announced that 125 stations will accept the coin. The city’s 9.5 million citizens and visitors can now pay their subway fares through the Ningbo Rail Transit app. To do that, they will have to link an e-CNY wallet — opened with any of the six large Chinese banks participating in efforts to popularize the digital incarnation of the national fiat — to the application. Commute...