Bitcoin News and Finance: What You Need to Know

The Council of the European Union has given its final approval to new regulations for crypto assets and markets in the EU. The decision completes a lengthy and complex legislative process for what’s considered to be the world’s first comprehensive legal framework for digital assets like bitcoin. EU Finance Ministers Give Final Nod to Markets in Crypto Assets Law At a meeting on Tuesday, the EU Council , composed of the finance ministers of the member states, adopted the Markets in Crypto Assets (MiCA) legislation. The set of rules brings crypto assets, their issuers and crypto service providers under a Union-wide regulatory framework. The formal adoption is the final step in the legislative process, the Council noted. It comes after a provisional agreement was reached in June 2022, following trilogue negotiations with the European Parliament and the Commission, and the EU lawmakers’ vote in April of this year. “I am very pleased that today we are delivering on our promise to sta...

South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to trade in our own currencies.” He also believes that the recession forecasts by the International Monetary Fund (IMF) and the World Bank will not affect the BRICS nations. BRICS Sherpa Discusses Summit Priorities South Africa’s BRICS Sherpa, Anil Sooklal, delved into the agendas and priorities of the upcoming BRICS summit under South Africa’s presidency in an interview with BRICS TV, published Wednesday. Sooklal previously taught at the University of KwaZulu-Natal and the University of South Africa. He also served as Deputy Director General of the Asia and Middle East Department of International Relations and Cooperation until January 2022. From 2006 to 2012, he served as South Africa’s Ambassador to the European Union, Belgium, and Luxembour...

Top executives from 146 major companies in the U.S. — including Morgan Stanley, Goldman Sachs, Nasdaq, and Pfizer — have urged President Joe Biden and congressional leaders to act swiftly to prevent the U.S. from defaulting on its debt, which could occur as early as June 1. They warned of “potentially disastrous consequences” if the U.S. defaults on its debt obligations. Executives Warn of ‘Disastrous Consequences’ From US Default A total of 146 executives from major companies in the U.S. have jointly written an open letter to President Joe Biden and congressional leaders urging them to take swift action to save the U.S. from defaulting on its debt obligations. Among the letter signers are Goldman Sachs CEO David Solomon, Morgan Stanley CEO James Gorman, Nasdaq CEO Adena Friedman, Guggenheim Partners Executive Chairman Alan Schwartz, and Pfizer CEO Albert Bourla. Addressing President Biden, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, House Speaker...

Axie Infinity Origins, the blockchain-based, play-to-earn (P2E) game, has successfully cleared Apple’s rigorous App Store review process and the game’s app is now available for Apple iOS users. Sky Mavis, the creator behind Axie Infinity, has adopted a strategic approach by rolling out the game’s app in stages, with targeted release plans for various Latin American and Asian countries. Blockchain Game Axie Infinity Origins Clears Apple’s Review Following the phased release on the Google Play Store, Axie Infinity Origins is now available for Apple iOS users in select countries. The game’s developer, Sky Mavis, announced the launch of the iOS version on Wednesday. “Origins has passed review with Apple and is now available on the App Store,” Sky Mavis said. “We believe this is the first time that Apple has agreed to make an externally-purchased NFT usable on the App Store,” the team added. The blockchain-based game that leverages non-fungible token (NFT) assets, Axie Infinity, was la...

Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service The Federal Tax Service of Russia ( FTS ) will likely be the nation’s leading regulator for the cryptocurrency sector and admit participants to the market, Deputy Finance Minister Alexey Moiseev has said in interview with the daily Izvestia. Russian lawmakers are preparing to adopt a package of laws on crypto assets during the spring parliamentary session. According to the draft legislation designed to introduce rules for the industry, the Russian government is expected to appoint a state body that will regulate it. The matter is still under discussion, Moiseev remarked. “In the concept that we have developed,...

Kaspersky, the multinational cybersecurity and anti-virus provider, made a startling revelation on May 10th. According to their report, a victim of a crypto hack had unwittingly purchased a counterfeit Trezor Model T from a “trusted seller through a popular classifieds website.” The researchers at Kaspersky were able to extract the custom firmware that the hackers had installed on the device. This revealed that the private key was already known to the hackers before the victim had even purchased the machine. Cybersecurity Firm Kaspersky Investigates Phony Trezor Hardware Wallet It seems crypto enthusiasts need to be extra cautious about counterfeit Trezor hardware wallets circulating in the market, designed with the malicious intent of pilfering cryptocurrency holdings. This unsettling revelation underscores the imperative for heightened prudence and attentiveness when acquiring hardware devices related to digital currencies. Kaspersky, the Russia-based cybersecurity firm, exposed ...