Bitcoin News and Finance: What You Need to Know

Nigeria’s National Information Technology Development Agency recently said it has launched a blockchain training program and over 30,000 people are set to participate. The objective of the training course is to make the participants “early solution providers in the fourth industrial revolution.” Hastening Adoption of Blockchain The Nigerian government has said it plans to educate over 30,000 people about blockchain technology. The training, which will be conducted by the National Information Technology Development Agency (NITDA), is intended to hasten the adoption of the tech and make Nigeria a leading player in the blockchain industry. According to a report by Radio Nigeria, the announcement was made by the director-general of NITDA, Kashifu Inuwa, who encouraged Nigerians to take advantage of the scholarships which have been made available for this purpose. Inuwa also suggested the purpose of the government’s push to train many Nigerians is to ensure they become “early solution ...

The government body overseeing the crypto market in Uzbekistan has restored access to Bestchange.ru, a well-known exchange aggregator in the region. The move comes after earlier this year the regulator blocked a number of coin trading platforms, including Binance. Residents of Uzbekistan Can Again Use the Services of Bestchange.ru Uzbekistan’s National Agency of Perspective Projects ( NAPP ), the authority regulating the crypto space in the Central Asian nation, has removed restrictions imposed on Bestchange.ru , a popular exchange aggregator in Russia and the former Soviet space. The development was announced by the Digital Rights Center (DRC) law firm whose legal experts have been representing the crypto platform. The DRC is specializing in providing legal assistance to internet users and businesses and was able to secure the unblocking of Bestchange.ru in Russia. The NAPP, which is subordinated to the presidential administration in Tashkent, began restricting foreign-based c...

SevenX Ventures, a crypto investment fund focused on early-stage blockchain projects in Asia, has built over 80 public investment portfolios. The three co-founders, industry veterans, have built portfolios in DeFi, NFT, GameFi, and beyond. Since its launch in 2020, SevenX Ventures has advocated for immersive investing – going beyond financial support to assist funded projects in financial planning, tokenomic design, and marketing. The team helps startups create a stronger foundation that will hold during periods of growth and market changes. By mapping out parts of its portfolio below, Seven X shares its vision for a Web3 future. Blockchain Network Near is a Layer 1 public chain, which includes optimized sharding design, Nightshade consensus, and a large block design. It has developed and implemented Ethereum 2.0 in its system designs for POS and sharding. The protocol’s account system and the support for large-scale concurrent applications make it the most promising infrastruc...

On Nov. 1, The Brazilian Securities Regulator, CVM, announced that it might create a new superintendence to deal with crypto-related market regulation. João Pedro Nascimento, president of the organization, said that the regulator is currently suffering from a lack of personnel that makes it challenging to give the attention needed to the growing cryptocurrency market. Brazilian Securities Regulator CVM to Create Separate Crypto Regulatory Institution The growth of the cryptocurrency market is causing troubles for some regulatory agencies around the world that lack the manpower needed to reach all actors in the market. The Brazilian Securities Regulator, CVM, announced on Nov. 1 that it will create a crypto-specific superintendence with the objective of exercising the needed oversight over all participants in the market. Joao Pedro Nascimento, president of the CVM, stated that one of the causes of this decision is the lack of manpower the organization is experiencing right now, whic...

Blocto, a multichain wallet has announced the launch of a $3 million Aptos Ecosystem Fund whose objective is to help onboard new users to Aptos. Besides financially supporting projects, the Aptos fund will be used to back standout projects when they get to the “user acquisition phase.” Access to Aptos’ in-House and External Investor Base Blocto, a multichain wallet and crypto ecosystem, has announced the launch of a $3 million Aptos Ecosystem Fund to be used for onboarding new users to Aptos, a layer one proof of stake blockchain. The launch of the fund follows Blocto’s recent integration with Aptos which reportedly saw “more than 300,000 users set up an Aptos wallet within the first week.” According to a statement shared with Bitcoin.com News, Blocto, which is backed by billionaire Mark Cuban, plans to use the Aptos Ecosystem Fund to financially support mutually beneficial projects. Besides extending financial support, Blocto will also back standout projects when they get to the “...

Digital asset manager Bakkt Holdings, Inc., announced on Thursday that the company has acquired the firm Apex Crypto from Apex Fintech Solutions. Bakkt detailed that the acquisition of the turnkey crypto platform aims to “bolster Bakkt’s cryptocurrency product offering and expand its footprint into additional client verticals.” Bakkt to Expand Client Verticals With Different Offerings by Acquiring Apex Crypto On Nov. 3, 2022, Bakkt announced that the company has purchased a “turnkey” crypto-trading platform called Apex Crypto, a platform that offers trading solutions, custody, and more for a myriad of crypto assets. Bakkt acquired the firm from Apex Fintech Solutions (AFS) and Bakkt says it intends to continue its commercial relationship with AFS. The company believes that Apex Crypto will further enhance Bakkt’s crypto offerings. “We found a unique asset in Apex Crypto, which will expand our crypto client base, provide us with faster speed to market for new crypto capabilities and...

The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year, the Swiss Financial Market Supervisory Authority ( FINMA ) has partially revised its Anti-Money Laundering Ordinance (AMLO), clarifying the application of a maximum limit for unidentified crypto exchange transactions. In a press release on Thursday, the regulator said that the regulations, which will come into force on Jan. 1, 2023, now reflect the latest amendments to Switzerland’s Anti-Money Laundering Act and the Federal Council’s Anti-Money Laundering Ordinance. FINMA noted that the collected feedback confirmed its position that the mandatory identity verification...

JPMorgan, DBS Bank, and SBI Digital Asset Holdings have completed their first lives trades on a public blockchain using decentralized finance (defi), tokenized deposits, and verifiable credentials under the supervision of the Monetary Authority of Singapore (MAS). Singapore’s central bank is planning two more pilots that involve Standard Chartered Bank, HSBC, and UOB. JPMorgan, DBS Bank, SBI, Standard Chartered Bank, HSBC, UOB Participate in MAS Digital Asset Pilots The Monetary Authority of Singapore (MAS), Singapore’s central bank, announced Wednesday that “the first industry pilot under the MAS’ Project Guardian that explores potential decentralized finance (defi) applications in wholesale funding markets has completed its first live trades.” The announcement details that for this pilot: DBS Bank, JP Morgan, and SBI Digital Asset Holdings conducted foreign exchange and government bond transactions against liquidity pools comprising of tokenized Singapore Government Securities ...

Four congressmen have accused the U.S. Securities and Exchange Commission (SEC) under Chairman Gary Gensler of “regulatory hypocrisy and inconsistency.” They added: “While the SEC is failing to comply with federal transparency and record-keeping laws, the SEC is aggressively enforcing record-keeping laws on private businesses.” Gensler’s Regime at SEC ‘Has Been Characterized by Regulatory Hypocrisy and Inconsistency’ Four lawmakers sent a letter to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, on Tuesday “denouncing the Biden administration’s inconsistency and hypocrisy of enforcing record-keeping laws, this time at the SEC.” The letter was signed by U.S. Representatives Tom Emmer (R-MN), Patrick McHenry (R-NC), Jim Jordan (R-OH), and James Comer (R-KY). They wrote: Recent reports suggest that SEC officials are using ‘off-channel’ communications platforms, such as Signal, Whatsapp, Teams, and Zoom, for official business and without producing the...

The CEO of cryptocurrency exchange Binance does not see central bank digital currencies (CBDCs) as a threat to cryptocurrencies, like bitcoin and ether. “It will validate the blockchain concept so that anybody who still has concerns about the technology will say: ‘Ok, our government is using the technology now,'” he opined. CZ Sees No Threat to Crypto Coming From CBDCs Binance CEO Changpeng Zhao (CZ) said Wednesday that he believes central bank digital currencies (CBDCs) are not a threat to cryptocurrencies, like bitcoin ( BTC ) and ether ( ETH ), Reuters reported. According to the Bank of International Settlements (BIS), nine out of 10 central banks are exploring launching their own digital currencies. The Atlantic Council’s CBDC tracker shows that 105 countries are currently exploring central bank digital currencies. Zhao was asked during a news conference at the Web Summit in Lisbon whether CBDCs could pose a threat to Binance and cryptocurrencies, like bitcoin and ethere...

Undeterred by the reported slow adoption of the Nigerian central bank digital currency, the deputy governor of the Reserve Bank of Zimbabwe, Innocent Matshe recently said his institution will proceed with plans to launch its own digital currency. In addition to sending a team to learn from the Central Bank of Nigeria’s experiences, Zimbabwe has also reportedly sent teams with a similar mission to countries like China and Ghana. ‘Jury Is Still Out’ on CBDCs The reported slow embrace of Nigeria’s central bank digital currency (CBDC) or the e-naira will not dissuade the Zimbabwean central bank from working on its own CBDC, Innocent Matshe, the bank’s deputy governor has reportedly said. He said that while the “jury is still out,” on CBDCs, his institution will still proceed with its digital currency launch preparations. As previously reported by Bitcoin.com News, fewer than anticipated Nigerian adults have downloaded or are using the CBDC when making payments. Some reports have estim...

Companies using natural gas as a power source to mint digital currency in Iran will have to deal with a sharp increase in the price of the fuel. The new rates set by the state-run supplier are almost double the previous and have been imposed retroactively, local media reported. Iran Raises Tariffs for Mining Farms Running on Natural Gas The National Iranian Gas Company, an enterprise under the Ministry of Petroleum of the Islamic Republic, has informed cryptocurrency miners about a raise of natural gas rates, the English-language daily Financial Tribune announced, quoting a report by Peyvast Magazine. According to the publication, the increase is retroactive and covers the current fiscal year, which started in March 2022. This means that the bills for the past six months will be adjusted in accordance with the new tariffs. As a result of the decision made by the oil ministry, a cubic meter of the fuel will now cost 53,368 rials (around $1.25) which is almost twice the price of 29...

The Monetary Authority of Singapore (MAS) has reiterated that cryptocurrency exchanges need to conform to restrictions on Russian users imposed over Moscow’s invasion of Ukraine. The reminder comes after researchers established that pro-Russia activists have raised millions of dollars in digital assets to support its war effort. Singapore Says Measures Targeting Russia Apply to All Financial Institutions, Including Crypto Exchanges Compliance with financial sanctions on Russia is a must for licensed cryptocurrency exchanges, the Monetary Authority of Singapore (MAS) commented for local media on Monday. The statement comes after recent studies found that pro-Russian groups have received crypto donations worth millions of U.S. dollars to fund Russian military operations in Ukraine. Following Russia’s invasion in late February, MAS introduced in March financial measures aimed at designated Russian banks, entities, and activities, including fundraising benefiting the Russian government...

Ethereum dropped to its lowest level since last Friday during today’s session, as consolidation in crypto markets continued on Wednesday. This comes ahead of this afternoon’s U.S. Federal Reserve interest rate decision. Bitcoin was also in the red, and remains below $20,800. Bitcoin Bitcoin ( BTC ) continued to trade below $20,800 on Wednesday, as market uncertainty remains high ahead of this afternoon’s Fed meeting. Although markets have somewhat priced in a 75 basis point hike, some are also looking for forward guidance from the bank, which includes a timeline for pivoting policy. BTC /USD fell to a low of $20,359.85 earlier in today’s session, less than 24 hours after tracking at a peak of $20,545.35. Looking at the chart, the token has mostly traded in the red since the weekend, which comes following a failed breakout on the relative strength index (RSI). The index failed to move beyond a long-term ceiling of 63.00 over the weekend, which acted as a signal to bears to reente...

According to the World Gold Council’s (WGC) latest quarterly report, worldwide gold demand, excluding over-the-counter (OTC) markets, was 28% higher year-over-year. While demand jumped higher than last year in the third quarter, central bank gold buying tapped an all-time quarterly record in Q3 2022. The quarterly report indicates that the world’s central banks purchased close to 400 tons of gold and the WGC study says that it’s the “most on record.” Q3 2022 Data Shows the World’s Central Banks Stacked Close to 400 Tons of Gold On Nov. 1, 2022, the World Gold Council (WGC) published the organization’s “Gold Demand Trends Q3 2022” report, which highlights the current trends tethered to gold and the precious metal’s markets during the third quarter. WGC’s report , published on gold.org, says the third quarter was healthy and was driven by “stronger consumer and central bank buying.” WGC highlights that these factors helped year-to-date demand “recover to pre-Covid norms.” “Gold deman...