Bitcoin News and Finance: What You Need to Know

On Monday, Christie’s, the leading British auction house founded 256 years ago in 1766, announced the launch of a new venture fund called Christie’s Ventures. According to the announcement, the company’s venture arm plans to focus on “[Web3] innovation, art-related financial products and solutions, and technologies that enable seamless consumption of art.” Christie’s Ventures to Foster ‘Web3 Innovation, Art-Related Financial Products’ The British auction house Christie’s has revealed a new venture fund that aims to support “emerging technology and fintech companies.” The firm said that it plans to work in unison with its portfolio startups in order to accelerate growth and push Christie’s activities into innovative directions. “Christie’s Ventures will start by exploring three broad categories,” the company said on July 18. “[Web3] innovation, art-related financial products, and solutions and technologies that enable seamless consumption of art.” With premises located in London,

Nasdaq-listed cryptocurrency exchange Coinbase has obtained regulatory approval to offer crypto services in Italy. “Coinbase is committed to bringing the power of our full product suite to customers across Europe,” the company said. Coinbase Approved in Italy Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Monday that it has secured regulatory approval to provide crypto services in Italy. The company’s vice president of International and Business Development, Nana Murugesan, explained in a blog post: Today, we’re able to announce a key milestone … securing approval from Italian regulators to provide ongoing crypto services to its residents. “The new requirement implemented by the Organismo Agenti e Mediatori (OAM), mandated that all companies offering crypto trading, custody or other services, meet set criteria,” the executive described. “Coinbase serves customers across almost 40 European countries through dedicated hubs in Ireland, the U.K., and Germany,” Murugesan

U.S. Senator Elizabeth Warren says that “too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money.” She stressed the need for stronger rules, urging the Securities and Exchange Commission (SEC) and Congress to take action on crypto regulation. U.S. Senator Says Crypto Needs Stronger Regulation U.S. Senator Elizabeth Warren (D-MA) voiced her concerns about cryptocurrency investing in an interview with Yahoo Finance Live last week after several crypto firms filed for bankruptcy protection . Calling on the U.S. Securities and Exchange Commission (SEC) to act, she emphasized: Congress needs to act, but the SEC has a responsibility to use its authorities to put guardrails in place and crack down on crypto actors that break the rules. “I’ve been ringing the alarm bell on crypto and the need for stronger rules to protect consumers and financial stability,” the senator added. Last week, crypto lender C

The .metaverse, .vr, .web3 and variety of top-level domains are now available for minting on Quik.com. Embrace yourself and your holdings on the web and its decentralized nature with this offer valid for a limited time. Check out Metaverse Domains on Quik now. Connecting the sellers and buyers in the most convenient way with a P2P peer-to-peer validated network, this platform has the most generic offerings for users and investors. This platform offers users a wider approach towards the NFT domain technology. It offers cost-effective, quick, and secure service. The system is built on the protocols ERC-721, ERC-115, and BEP-721, BEP-1155, and it provides a decentralized, secure environment with user-oriented services and secured transactions. These blockchain-based domains on Quik.com allow users to read the entire content and history of a product on the network. These domains themselves have benefits that set them apart from conventional domains. They are ICANN-free. These domai

The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency exchange on April 25, the DNB said, elaborating: The fine was imposed because Binance offered crypto services in the Netherlands without a legally required registration with DNB. That’s prohibited. The central bank stressed that companies wanting to offer crypto services in the Netherlands must register with it as mandated in the Money Laundering and Terrorist Financing (Prevention) Act. The reg

Tony Hawk, one of the most popular skateboarders in the world, is planning to build a skateboard park in the metaverse. The initiative, which will be completed in partnership with The Sandbox and Autograph, will also create voxel representations of the skateboarder as NFTs, that will be able to be used in The Sandbox metaverse world. Tony Hawk Takes Skateboarding to the Metaverse More and more athletes are taking their activities to the metaverse for their fans to enjoy and connect with them in these virtual worlds. Tony Hawk, one of the most popular skateboarders in the world, has announced he will build a digital skateboarding park in the metaverse. The venue will be built in partnership with The Sandbox, an ethereum based metaverse experience, to create a park where players can take their NFTs and skateboard freely. The skateboarder will also collaborate with Autograph , a high-profile NFT company co-founded by Tom Brady, to produce NFTs based on his most memorable moments and

PRESS RELEASE. Unagi is shifting the way sports fans interact with their favorite sports clubs through their innovative free-to-play and play-to-earn fantasy sports game: Ultimate Champions. Live since April 2022, the company has shaken the industry with several trailblazing successes including: Launching its fantasy football game with over 40 clubs , including the English Premier League powerhouse Arsenal FC Registering more than 20K active users in only 30 days Inking a pioneering deal with the EuroLeague , including 38 of the biggest basketball teams in Europe such as Real Madrid and Barcelona The fantasy sports market is estimated to grow to USD 50bn by 2030 and is ripe for disruption. Gen Z consumers increasingly expect dynamic gameplay models, in-game ownership and a play-to-earn experience. Ultimate Champions offers the following advantages relative to traditional fantasy providers: Gameplay: The game leverages more than 50 data points per athlete per match to sco

A survey published by Globant, a software development firm, and Yougov, found that most gamers believe that metaverse will change the gaming industry in a positive way. The survey, which consulted the opinion of 1,000 PC, console, and mobile gamers, also found that most gamers are still uncomfortable with advertising on the metaverse and that non-fungible tokens (NFTs) are still uncommon for metaverse gamers. Metaverse Tech Might Change the Gaming Industry, Globant Survey Finds The sentiment of gamers toward metaverse tech and its influence on the future of the industry is changing to a more positive light. A new survey, titled “Metaverse Awareness Survey,” published by Globant, a software and tech company in partnership with Yougov, found out that gamers believe that the buzz around the metaverse is justified. The survey, which touched on other metaverse-related subjects like NFTs, consulted 1,000 gamers about the importance of the metaverse for the interactive entertainment indus

A South African regional court recently ruled to release former Monero lead maintainer, Riccardo Spagni, from custody. The ruling came just a few days after his arrest by local law enforcement agents, a report has said. Prior to his release, Spagni aka Fluffypony told the court he had returned to South Africa voluntarily and that he was not a flight risk. US Judge Grants Motion for Spagni’s Extradition A South African regional court magistrate recently ruled to release fraud-accused former Monero lead developer, Riccardo Spagni, from custody on a warning, a report has said. The magistrate’s decision to release Spagni came just days after he was arrested and taken into custody when he landed at the OR Tambo International Airport. As previously reported by Bitcoin.com News, Spagni was arrested in Nashville, Tennessee on 21 July 2021 by U.S. law enforcement agents. The arrest was at the instigation of the South African government. Since then, Spagni has remained in U.S. custody pend

Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a media report revealed. Crypto Miners May Find It Harder to Access Sweden’s Cheap Green Energy Amid forecasts for growing energy needs in other sectors, Sweden may change its attitude towards cryptocurrency mining. In a recent interview, Minister of Energy Khashayar Farmanbar remarked that the Swedish economy is moving “from a period of administration to an extreme expansion where our entire manufacturing industry is seeking to electrify.” Quoted by Bloomberg, the he official stated: We need energy for more useful things than bitcoin, to be honest. With its hydro reservoirs and wind parks providing clean and low-cost electricity, Sweden has attracted many bitcoin miner

Britain’s top financial regulator, the Financial Conduct Authority (FCA), says the U.S. and U.K. will deepen ties on crypto regulation. “In the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,” said the British regulator. US and US to Strengthen Collaboration on Crypto Regulation The U.K. Financial Conduct Authority’s chief executive, Nikhil Rathi, outlined the FCA’s regulatory goals Wednesday at Peterson Institute for International Economics. “One area of global focus is crypto, both opportunities and risks,” the FCA chief said. “Currently, our remit is limited to anti-money laundering rules for platforms. We have applied those strict rules as we would to any other firm that wants to operate in the U.K. market.” The regulator added: The U.S. and U.K. will deepen ties on crypto-asset regulation and market developments — including in relation to stablecoins and the exploration o

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined what to expect from the securities watchdog on crypto regulation. “We do have robust authorities from Congress also to use our exemptive authorities that we can tailor investor protection,” he explained. Chair Gensler Highlights SEC’s Work on Crypto Regulation SEC Chairman Gary Gensler outlined what to expect from his agency on U.S. crypto regulation Thursday in an interview with Yahoo Finance Live. He was asked, “What can we expect from the SEC in the coming months on the crypto regulatory front?” Gensler replied: “More broadly, the public right now would benefit from investor protection around these various service providers … the exchanges, the lending platforms, and the broker-dealers.” The SEC chief elaborated: So, we at the SEC, are working in each of those three fields — exchanges, lending, and the broker-dealers — and talking to industry participants about how to come into compli

The Paraguayan Senate has approved a bill that seeks to regulate cryptocurrencies and their operations in the country. The bill, which had already been submitted to the deputy chamber, was approved with some changes suggested, establishing clear definitions and tax exemptions for companies in the cryptocurrency and crypto mining sectors. Paraguayan Cryptocurrency Bill Passes Senate Discussion Countries in Latam are seeking to standardize and regulate cryptocurrency to bring more clarity to investors dedicated to the industry in the area. On July 14, the Paraguayan senate greenlighted a cryptocurrency bill that defines several rules that companies and individuals will have to follow to operate with cryptocurrencies. The bill, which was introduced by Senator Fernando Silva Facetti and others last year, was amended by the deputy chamber, which proposed some changes considered an improvement per Facetti’s statements. The bill established the Ministry of Industry and Commerce of the c

A majority of the financial pyramids identified in 2022 used cryptocurrencies in one way or another, Russia’s central bank announced in a new report. Amid Western sanctions, Russian scams have stepped up their activities, often claiming to be licensed by foreign authorities to offer access to crypto assets. Russian Pyramids Take Advantage of Western Sanctions and Popularity of Crypto Over 56% of the pyramid schemes in the Russian Federation during the first half of the year, or 537 entities, raised funds in various cryptocurrencies or advertised crypto investments, a report devoted to countering illegal activities in the country’s financial market reveals. The paper has been published by the Central Bank of Russia ( CBR ). Quoted by RBC Crypto, the regulator remarked that the sanctions imposed by the West over the conflict in Ukraine have dramatically changed the working conditions for legal financial institutions in Russia and fraudsters benefitted from the situation. Russians w

The booming blockchain sector in Vietnam is having to deal with a serious deficit in specialists, local media revealed. Despite the large number of software engineers in the country, those with blockchain expertise meet less than a fifth of the current demand, with businesses already looking for talent abroad. Fierce Competition for Blockchain Experts Among Vietnamese Companies Vietnam is facing a lack of human resources hampering the advance of projects in its rapidly developing blockchain industry , the English-language portal Bizhub reported. The Southeast Asian country has plenty of capable software developers but few of them have the needed qualifications for distributed ledger technologies. The shortages makes recruitment difficult and Vietnam doesn’t have many training programs to alleviate the problem, noted Trinh Ngoc Duc, chief executive of the company that developed the Fight of the Ages game. Quoted by the news outlet, he elaborated: The scarcity of experienced blockc

Sri Lanka’s central bank issued a warning regarding the use of cryptocurrencies amid a devastating economic and political crisis. The central bank stressed that it “has not given any license or authorization to any entity or company to operate schemes” involving cryptocurrencies. Sri Lanka’s Central Bank Issues Notice About Cryptocurrency The Central Bank of Sri Lanka (CBSL) published a notice about cryptocurrency Tuesday titled “Public Awareness in Relation to the Use of Virtual Currencies in Sri Lanka.” The notice cites “recent development in relation to virtual currency usage in the international and domestic markets as well as the inquiries related to virtual currency.” Noting that “Virtual currencies (VCs) are largely unregulated digital representations of value that are issued by private entities and can be electronically traded,” the Sri Lankan central bank emphasized: CBSL has not given any license or authorization to any entity or company to operate schemes involving VCs

India’s finance minister has called on the G20 countries to bring crypto within the “Automatic Exchange of Information” framework. More than 100 countries have adopted the Common Reporting Standard under the framework. G20 Urged to Bring Crypto Under Automatic Exchange of Information India’s finance minister, Nirmala Sitharaman, talked about cryptocurrency Friday during the G20 Ministerial Symposium on Tax and Development in Bali, Indonesia. Noting that “tax transparency” is an area where “considerable progress has been made with the Automatic Exchange of Information in respect of financial accounts,” she described: “Our investigations have shown that numerous layers of entities are often set up by tax evaders to conceal their unaccounted assets.” Sitharaman added that although “the Automatic Exchange of Information framework provides for financial account information to various jurisdictions, tax evaders, being smart, explore other avenues to shift their unaccounted wealth throug

Billionaire Thomas Peterffy, founder of Interactive Brokers, says he plans to buy more bitcoin if the price of the cryptocurrency hits $12K. However, he remains concerned that bitcoin could “become worthless or outlawed.” Thomas Peterffy on the U.S. Economy and Bitcoin Billionaire Thomas Peterffy shared his outlook for bitcoin and the U.S. economy in an interview with Forbes last week. Peterffy is the founder and chairman of the board of directors of Interactive Brokers, an online trading platform. His net worth is currently $18.4 billion, according to Forbes’ list of billionaires. Interactive Brokers offers cryptocurrency trading . The billionaire said in January that it is prudent for investors to have 2% to 3% of their personal wealth in cryptocurrencies, just in case fiat currency goes to “hell.” In July last year, he revealed that he is holding some BTC , stating that “there’s a small chance that this will be a dominant currency, so you have to play the odds.” He told Forbe

Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrencies are “very vulnerable to sentiment and prone to collapse.” He urged regulators to “get on with the job” and regulate crypto under the principle of “same risk, same regulatory outcome.” Bank of England’s Cunliffe on Crypto Regulation Sir Jon Cunliffe, deputy governor for financial stability at the Bank of England (BOE), discussed cryptocurrency risks and regulations this week at the British High Commissioner’s residence in Singapore. The Bank of England executive cautioned: Financial assets with no intrinsic value … are only worth what the next buyer will pay. They are therefore inherently volatile, very vulnerable to sentiment and prone to collapse. He explained that some crypto assets are purely speculative, with no backing, stating that bitcoin, for example, has nothing behind it. He also reiterated his previous warning that if you invest in crypto assets, you must “be

Unbacked cryptocurrencies are not an efficient means of payment and stablecoins are vulnerable to runs, top officials at the European Central Bank have pointed out in a new article making the case for a digital euro. The executives have marked key objectives for the project which should provide Europeans with “easy access to central bank money” in the digital era. Trend Toward Digital Money Creates Risks, Senior ECB Officials Warn Maintaining access to central bank money is crucial for financial stability when payments are becoming increasingly digital. The digital euro can achieve that, according to the President of the European Central Bank ( ECB ) Christine Lagarde and Fabio Panetta, member of its executive board. The high-ranking representatives of the eurozone’s monetary authority have thrown their support behind Europe’s central bank digital currency ( CBDC ) in a piece published this week in the bank’s blog, in which they note that the “successful model for payments” that l

XMR was a notable mover in crypto markets to start the weekend, as prices rose to their highest level in over four weeks. Despite a large section of the market consolidating on Saturday, ALGO was also higher, as it too hit a multi-week high during the weekend. Monero ( XMR ) Monero was a notable mover on Saturday, as the token rallied to its highest point in over four weeks in today’s session. Following a low of $133.16 on Friday, XMR /USD raced to an intraday peak of $141.17 to start the weekend. This move saw the token race hit its highest point since June 13, and this came as prices broke beyond a key resistance level at $136. Since this breakout, volatility in XMR has increased, with some bears trying to halt the current streak of upward momentum. As of writing, prices have slightly slipped from earlier highs, with monero now trading around the $138 region. Should earlier bullish sentiment continue to fall, then we may soon see XMR trading below its long-term ceiling of

BTC was marginally lower to start the weekend, as crypto prices consolidated following recent gains. After surges in price on Friday, both ETH and bitcoin were slightly lower, as bulls appeared to have liquidated positions in order to secure profits. Bitcoin Bitcoin was trading lower to start the weekend, as markets consolidated following Friday’s surge in price. Following a peak of $21,138.24 in yesterday’s session, BTC /USD slipped to an intraday low of $20,518.90 earlier today. This drop comes as yesterday’s momentum slightly eased, and bears reentered the market close to a key point of uncertainty. Looking at the chart, this resistance level was around the $21,100 level, which has often been a zone where bears like to circulate. On this occasion, they opted to attack, forcing some previous bulls to retreat from their positions, with some likely waiting for an opportune time to reenter. This also coincides with the 14-day RSI hitting a ceiling of its own at 48, however sho