Bitcoin News and Finance: What You Need to Know

Following what has been a turbulent week of trading, bitcoin prices consolidated to start the weekend. The token rose marginally above the $19,000 level on Saturday, hovering near a three-month low in recent days. Ethereum was also consolidating in today’s session, as prices moved back above $1,300. Bitcoin Bitcoin ( BTC ) rose marginally above $19,000 on Saturday, as markets continued to digest this week’s heightened level of volatility. Following a low of $18,617.55 on Friday, the world’s largest cryptocurrency rose to an intraday peak of $19,374.55 earlier today. This move saw bitcoin climb back above its key support point of $19,300, following a recent breakout which sent prices to a three-month low. Looking at the chart, the initial price increase in today’s session came as the 14-day relative strength index (RSI) also moved higher, hitting a resistance level in the process. Since hitting a ceiling of 44.10, BTC /USD prices have fallen from earlier highs, and as of writing

An Israeli capital markets regulator, the Insurance and Savings Capital Market Authority, recently granted a “crypto financial services provider license” to Bits of Gold, the first such license for an active company in the country. This license allows Bits of Gold to offer crypto custodian services and to enable the safekeeping of funds belonging to retail customers. Amendment of Israeli Laws In what has been described as a first in Israel, the country’s capital markets regulator, the Insurance and Savings Capital Market Authority (ISACA) recently granted Bits of Gold a “crypto financial services provider license.” This license enables the crypto exchange platform to “offer custodian services” as well as to allow “its retail customers to keep their funds safely and insured” via a wallet application that will be launched sometime in October. According to a statement, Bits of Gold was finally granted the license by the regulator after nearly five years of waiting. An amendment to the

Bitso, a Mexico-based, Latam-focused cryptocurrency exchange, has launched an initiative that aims to allow Argentines to use crypto for their everyday purchases. The exchange is introducing QR payments directly in its app, which will be interoperable with other platforms already using this method of payment in Argentina. Bitso Seeking to Drive Crypto Payments in Argentina Bitso, one of the biggest exchanges in Latam, with more than 5 million customers, is extending its focus on payments in Argentina. The exchange has launched one of the first interoperable QR payment systems of its kind in the country, hoping to attract more Argentines to use crypto as payment. Argentine customers of the exchange will be able to use their balances of Argentine pesos, stablecoins, bitcoin, or ether to pay at any of the merchants that have QR code payments activated. Depending on the currency, Bitso will manage exchange rates to exchange these cryptocurrencies and deliver Argentine pesos to the mer

The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual assets from people accused of tax evasion in 2021. Almost 260 Billion Won in Crypto Seized for Tax Evasion in South Korea The amount of crypto assets seized from South Koreans accused of dodging taxation has reached almost 260 billion Korean won (close to $184 million at current exchange rates), the online editions Yonhap News and Maekyung unveiled on Thursday. The reports quote official numbers provided by the Ministry of Economy and Finance, the Ministry of Security and Public Administration, the National Tax Service ( NTS ) of South Korea, and the authorities in 17 cities and provinces. Out of the total exceeding 259.7 billion won, more than 176 billion won of assets were seized due to non-payment of national taxes, and over 84 billion won of crypto was seized as a result of local tax a

The British government has presented the Economic Crime and Corporate Transparency Bill to Parliament that will “make it easier and quicker” for law enforcement agencies “to seize, freeze and recover crypto assets.” The government stressed: “We must ensure that law enforcement agencies have the right legislative framework in place to recover criminals’ crypto assets.” UK’s New Bill to Help Authorities Seize, Freeze, and Recover Crypto The British government introduced the Economic Crime and Corporate Transparency Bill in the House of Commons Thursday. The bill “aims to strengthen the U.K.’s fight against economic crime,” the government detailed, noting that “It will also support efforts to tackle terrorist financing.” The government explained: The new law will make it easier and quicker for law enforcement agencies such as the National Crime Agency to seize, freeze and recover crypto assets — the digital currency increasingly used by organized criminals to launder profits from f

The internet hosting and software development subsidiary of Microsoft, Github, has partially unbanned the Tornado Cash repositories following the recent sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). Github’s decision follows the U.S. Treasury updating the public, noting that U.S. persons can copy, view, and discuss the open-source code. Github’s partial reinstatement lets repository visitors look at the Tornado Cash codebase in read-only mode. Github Reinstates Tornado Cash Repositories in Read-Only Mode The cryptocurrency community has been discussing the internet hosting and software development platform Github after the service decided to partially reinstate the Tornado Cash open source code on the platform. On August 8, 2022, the U.S. Treasury Department’s regulatory watchdog OFAC sanctioned the ethereum mixer Tornado Cash and several ethereum addresses associated with the platform. When OFAC’s sanctions were published, third-party

In a world where censorship is growing and the right to privacy is being undermined, Web3 — the next iteration of the world wide web — looks to some like the solution users of online platforms are waiting for. As some pioneering Web3 products and solutions have demonstrated, when users are in control, there are fewer incidents of breaches or unsanctioned use or transfer of their data. Decentralized Communication Finance (Dcfi) Building on this success, some Web3 startups are now attempting to create solutions that make it possible to combine decentralized finance and decentralized communications. One of such startup, Pravica Club — an Egypt-based Web3 firm — recently launched such a messaging platform. According to the startup’s co-founder and chief executive officer, Mohamed Abdou, Pravica Club — a Web3 messaging, self-custody, decentralized identity and blockchain-enabled conversations app — gives users an “opportunity to build their communities in a safe place.” Abdou told Bit

An international group of experts with extensive background in public and corporate governance will advise global cryptocurrency exchange Binance on regulation. The move is an indication of Binance’s focus on compliance and collaboration with regulators, according to its management. Crypto Exchange Binance Secures Qualified Advice on Regulatory Matters Binance, the world’s leading digital asset exchange in terms of trading volume, has established a Global Advisory Board. The body is comprised of “distinguished experts in public policy, government, finance, economics, and corporate governance,” the coin trading platform said in a press release. The board’s main task will be to advise Binance on how to deal with the most complex regulatory, political, and social issues that the whole crypto industry is facing as it expands and evolves, the exchange explained. The Global Advisory Board, chaired by former U.S. Senator and Ambassador to China Max Baucus, has recently convened in Paris,

The Web3 software solutions company Chain announced the company has partnered with Kraft Sports + Entertainment, the owners and operators of the New England Patriots, New England Revolution, Gillette Stadium, and Patriot Place. Chain details that the multi-year deal will allow the company to serve as the company’s “official blockchain and Web3 sponsor.” Chain Inks a Deal With Kraft Sports + Entertainment, Web3 Company Plans to Work With New England Revolution and the NFL’s New England Patriots On Thursday, the blockchain and Web3 firm Chain said it inked a multi-year deal with Kraft Sports + Entertainment, the company led by Robert and Jonathan Kraft. The firm founded in 1998 provides operational services to the NFL’s New England Patriots, the charter club of MLS’s New England Revolution, and Gillette Stadium. Chain is a blockchain company that is backed by Visa and Citigroup and the company recently worked with Tiffany & Co. and the Nftiff project . By working with Kraft, Ch

The U.S. dollar value of the recently airdropped coin native to the forked Ethereum proof-of-work (PoW) blockchain will be at par with that of ether, Chandler Guo, the instigator of the latest Ethereum hard fork, has said. Guo added that he expects the value of the token, which is currently “very cheap,” to grow by 100x in ten years’ time. Surging ETHW Trade Volumes According to Chandler Guo, the self-appointed organizer of the recent Ethereum hard fork, Ether ( ETH ) and the recently airdropped, proof-of-work ETHW will have the same USD value in ten years. Guo argued that the new token, which currently trades at just a fraction of its September 15 high, still has the potential to grow by 100x. In an interview with Bitcoin.com News, Guo claimed that the current price of the forked coin is “very cheap,” hence the scope for it to grow by 100x exists. Guo, a former bitcoin and ethereum miner, nonetheless concedes that the forked blockchain has a lot of catching up to do before this hu

Huobi Global, one of the biggest exchanges in volumes traded, has announced a partnership to make it easier for its Latam-based customers to acquire cryptocurrencies. The exchange has allied with Astropay, a payment services platform, to allow customers in Latam to purchase cryptocurrency with fiat currencies in several countries. Huobi to Make Crypto Easier to Purchase in Latam Huobi is aiming to be more appealing to Latam-based customers who want to enter the cryptocurrency market for the first time. The leading crypto exchange has recently announced a partnership with Astropay, a payment processing platform, to allow customers in Latam to purchase crypto using fiat currencies in selected countries. Customers will have to use Astropay’s wallet in order to purchase the assets, having the opportunity to do so in countries like Brazil, Mexico, Colombia, Chile, Peru, and Uruguay. The company informed that various payment methods would be supported, including credit and debit cards,

Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges. Under revised regulatory framework, two-thirds of crypto exchange directors must be Indonesian citizens residing in the country. Indonesia Plans to Tighten Crypto Regulation Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges, officials from the country’s Minister of Trade and the Commodity Futures Trading Regulatory Agency (Bappebti) said Tuesday at a parliamentary hearing in Jakarta. One of the new rules requires two-thirds of directors of crypto exchanges to be Indonesian citizens residing in the country. Didid Noordiatmoko, acting head of Bappebti, told parliament: That way, at least we can prevent the top management from fleeing the country if any problem arises. The new measure followed the financial trouble faced by Southeast Asia-focused crypto exchange Zipmex , which had to halt withdrawals. Crypto exchanges will also be required to use a third

The Uniswap Foundation (UF), the group behind the decentralized exchange (dex) Uniswap, announced the first wave of foundation grants on Wednesday as it plans to distribute $1.8 million total, awarded across 14 grants. The UF announcement details that a touch more than $800K will be awarded to Uniswap Diamond, a project being constructed by GFX Labs. Uniswap to Disperse $1.8 Million to 14 Different Projects On September 21, the Uniswap Foundation announced the first wave of grants that aims to bolster the decentralized finance (defi) ecosystem and progress research and development. According to the UF, the foundation will disperse $1.8 million in the form of 14 grants, and the project Uniswap Diamond will receive the largest sum. The Uniswap Diamond project is in the midst of being crafted by GFX Labs and it will get a total of $808,725 across 3 disbursements. The UF says the project is “one of the most ambitious initiatives ever to be funded by Uniswap Grants.” The other grants wi

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Flybondi, a low-cost Argentine airline, is introducing blockchain tech in its operations. The company announced recently it will start issuing tickets as non-fungible tokens (NFTs), broadening the possibilities of what customers can do with them. Users will be able to sell or transfer the tokens to other travelers up to three days before the applicable flight, for example. Flybondi to Issue NFT Tickets More companies are including NFTs as part of their business models due to the perceived benefits and advantages they can bring. Flybondi, a low-cost Argentine airline, has also decided to use blockchain tech in its operations, announcing it will issue tickets as non-fungible tokens (NFTs), broadening the scope of what customers can do with them. The solution, which was developed by Travelx, a blockchain tech development company, will allow customers to trade, transfer, and sell the tickets, changing the names of the users up to three days before the flight. The alliance also introdu

China’s special administrative region of Hong Kong is going to trial а digital version of its dollar as early as this year, in preparation for eventual roll-out. The territory is trying to catch up with those that are already launching central bank digital currencies, including the People’s Republic with its digital yuan project. Trials of Digital Hong Kong Dollar Planned for Q4 Hong Kong intends to begin testing a currency called the e-HKD, a digital incarnation of the Hong Kong dollar, in the remaining months of the year. The trials will be facilitated by the adoption of legislative amendments and the building of digital infrastructure necessary to support the project, the Hong Kong Monetary Authority ( HKMA ) announced, quoted by the South China Morning Post. The pilot phase comes after consultations conducted to gather feedback on potential demand, privacy aspects, and other issues that may arise around the issuance of a central bank digital currency ( CBDC ). Howard Lee, deput

Changpeng Zhao (CZ), founder and chief executive officer of cryptocurrency exchange Binance, has announced the opening of an office in Romania. During a visit to the country, he met with high-ranking officials and emphasized Binance’s intentions to expand direct operations in Eastern Europe. Binance to Launch Romanian-Language Support This Fall, Exchange CEO Unveils in Bucharest Binance, the world’s leading crypto exchange by trading volume, is setting up a local office in Romania, CEO Changpeng Zhao revealed during his stay in Bucharest, part of a regional tour. The trading platform will also offer a Romanian version of its support service, starting from October. The move is part of Binance’s plans for wider expansion in Eastern Europe. The exchange already covers a large portion of the crypto asset market, with 120 million customers around the world using it to buy and sell various digital currencies. “We want to go global by playing locally in multiple markets,” its founder ela

Non-fungible token (NFT) sales this week dropped 10.88% lower than the week prior. Roughly $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT collections with the largest market capitalizations shed significant value during the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market cap slid by 19.18%. NFT Sales and Prices Nosedive NFTs had a lackluster week as sales and prices have followed in sync with falling crypto asset prices. Statistics show that a large number of NFT collections have lost considerable market value during the past week. For instance, metrics show that Bored Ape Yacht Club’s (BAYC) floor value on September 13, 2022, was $114,388 and today, the floor value is around $90,026 . BAYC’s market valuation on September 13 was $1.14 billion and today it’s down 21.29% to $900.25 million. Data shows that the second most expensive NFT floor value belonged to Cryptopu

On Wednesday, the layer two scaling solution that leverages optimistic rollup technology, Boba Network has revealed it now supports the proof-of-stake (PoS) network Avalanche. According to the Boba Network team, the new Avalanche support will produce “faster transactions and lower fees.” Boba Network Integrates With the Avalanche PoS Blockchain Boba Network , the layer two (L2) scaling project introduced Boba AVAX L2 on Wednesday via the team’s Twitter account. “We’re over the slopes to announce our partnership as an official scaling solution for Avalanche,” Boba said. “ Avalanche offers blazing fast speeds, low costs, and eco-friendly solutions: Boba AVAX L2 holds true to those values and enhances it further.” Boba is already connected with the Ethereum ( ETH ) network and at the time of writing, l2fees.info stats show Boba’s fee to move ether today is $0.17, and to swap tokens the estimated price is $0.30. That is cheaper than the current 34 gwei ($0.96) to send ether onchain,