Bitcoin News and Finance: What You Need to Know

The U.S. Securities and Exchange Commission (SEC) has issued a bulletin warning about the risks of bitcoin and ether exchange-traded funds (ETFs), highlighting their speculative nature. The regulator urged investors to consider potential issues like price volatility, fraud, and lack of regulatory oversight. SEC Warns Investors About Risks in Bitcoin and Ether ETPs The U.S. […]

Crypto exchange Tokocrypto, a part of Binance Group, has achieved a major milestone by securing the Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), allowing it to operate as a licensed crypto asset trader. This move highlights Tokocrypto’s commitment to regulatory compliance and strengthens its position in Indonesia’s growing […]

Bitcoin may rise to $90,000 by the end of the year if former U.S. President Donald Trump wins the presidential election, according to brokerage and research firm Bernstein. The firm’s analysts believe that Trump’s pro-crypto stance and regulatory reforms could boost the cryptocurrency market while a Kamala Harris victory may cause bitcoin to fall below […]

The Federal Bureau of Investigation’s Internet Crime Complaint Center has revealed a sharp rise in cryptocurrency fraud complaints, with over 69,000 cases and $5.6 billion in losses. Investment scams accounted for 71% of these losses, highlighting the growing exploitation of digital currencies. The FBI further noted that crypto fraud represents nearly half of total losses. […]

Russia’s central bank is expanding its digital currency pilot program, involving 9,000 individuals and 1,200 companies. New features for the digital ruble, including payments via QR code, will be tested. Full-scale implementation is expected by late 2025. According to officials, demand for the digital ruble is growing, with successful integration anticipated due to ongoing sanctions. […]

Ripple CEO Brad Garlinghouse discussed Japan’s potential in blockchain technology with Japanese lawmaker Taira Masaaki during XRP Community Day. Garlinghouse praised Japan’s commitment to advancing crypto, highlighting the country’s “clear frameworks and constructive policy” that encourage innovation while ensuring consumer protection. Taira, a Web3 and AI advocate in Japan’s House of Representatives, noted that the […]

The U.S. and Nigeria will host a pan-African Artificial Intelligence (AI) conference in Lagos from September 10-11. The conference will bring together government officials, tech leaders, and civil society to discuss the opportunities and challenges of AI development and use. Participants will work to identify and harmonize tech governance strategies to ensure AI is adopted […]

The Nigerian blockchain payment platform Bitmama has partnered with the decentralized finance platform Mansa to improve cross-border payment accessibility in Africa. This partnership aims to enhance consumer payment capabilities and support trade across borders. Mansa’s liquidity solution has reportedly already helped foster financial inclusion in other regions. Bridging the Funding Gap The Nigerian blockchain payment […]

The United States, Japan, and the Republic of Korea (ROK) held their third Trilateral Diplomatic Working Group meeting on Friday in Seoul to address North Korean cyber threats. Led by U.S. Deputy Special Representative Seth Bailey, ROK’s Lee Jun-il, and Japan’s Kumagai Naoki, the meeting focused on North Korea’s cyber activities, including revenue generation through […]

Former U.S. President Donald Trump has announced a plan to create a government efficiency commission led by Tesla CEO Elon Musk if re-elected president. This commission would conduct a financial and performance audit of the entire federal government. Musk is pushing the idea of the Department of Government Efficiency (D.O.G.E.), emphasizing concerns about government overspending. […]

A report by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute found that cryptocurrency ownership declined during market downturns, despite price increases in bitcoin. Data from multiple surveys showed that crypto interest and ownership did not rise, even as prices surged. The report suggests further research into consumer behavior in response to market fluctuations […]

Eighty-eight business leaders, including Ripple co-founder Chris Larsen, have endorsed Vice President Kamala Harris for president, in a new letter shared by CNBC on Friday. Some crypto investors are puzzled by Larsen’s move, given the Biden administration’s stringent regulatory stance on cryptocurrency and its ongoing lawsuit against Ripple. The U.S. Securities and Exchange Commission (SEC) […]

Pavel Durov, founder and CEO of Telegram, made his first public statement after his arrest in Paris. He was questioned by French authorities for four days over claims that he could be held responsible for illegal activities of Telegram users. Durov expressed surprise, citing that Telegram has an official representative for such matters. He pledged […]

In what local media are calling the first operation of its kind, the Argentine judicial system ordered the seizure of nearly $28,600 in stablecoins from a criminal organization that used cryptocurrency to launder millions of dollars. The criminals obtained these funds from two main activities: phone smuggling and operating illegal online casinos. Argentine Justice Orders […]

On Sept. 6, Vaneck announced its decision to close and liquidate the Vaneck Ethereum Strategy exchange-traded fund (EFUT). The liquidation comes after evaluating key factors, including performance and investor interest. The firm noted that shareholders will have until September 16, 2024, to sell their shares before delisting. Vaneck to Wind Down Ethereum Futures ETF According […]

Russia will prioritize using its energy for social development instead of Bitcoin mining, according to the Ministry of Energy. Energy Minister Sergei Tsivilev stressed that if there is a surplus in certain areas, this power can be supplied to legal and registered energy miners operating outside the “gray” zone. Russia Will Not Prioritize Supplying Energy […]

Kansas Attorney General Kris Kobach announced the recovery of an international crypto wallet and stated that the funds will be returned to a Kansas resident defrauded in a crypto scam. This followed a lawsuit against Bimbo Toyin Akinyemi, a Nigerian national accused of the fraud. The court ordered full restitution and penalties, enabling the Attorney […]

The Financial Task Force of Latin America (GAFILAT) released an evaluation of the state of El Salvador regarding compliance with international anti-money laundering requirements. The institution found that, while El Salvador included bitcoin as legal tender in 2021, the crypto asset has not reached a ‘significant impact’ or elevated transactional volumes. Financial Task Force of […]

Anatoly Aksakov, head of the State Duma’s Financial Market Committee, has discussed the use of national digital currencies for bilateral settlements between Russia and China. In a recent interview with Russian media, Aksakov stated that these instruments will be considered for such settlements as soon as the regulatory and technological platforms for this task are […]

On Sept. 5, 2024, bitcoin held steady, floating just above the $56K mark, sparking ongoing debates about its market direction. Some speculate that bitcoin might be entering a bearish phase, while others still see potential for a bullish breakout. Cryptoquant’s head of research, Julio Moreno, weighed in on the discussion, stating the drop in bitcoin’s […]

A law professor at the East China University of Political Science and Law has highlighted the urgent need for China to standardize procedures for recovering illicit digital assets due to a rise in cryptocurrency-related crimes. He stressed the lack of uniform standards complicates asset recovery and urged for comprehensive guidelines and international cooperation to manage […]

Outlier Ventures’ new report claims the four-year Bitcoin halving cycle “is dead,” arguing that halving events no longer significantly impact bitcoin’s price due to a maturing crypto market. The report suggests the influence of halvings diminished after 2016, with recent price movements driven more by Bitcoin ETFs and macroeconomic factors, such as the post-Covid capital […]

Arthur Hayes, co-founder of crypto exchange Bitmex, has warned of a scenario where bitcoin could “slowly leak lower towards $50,000” and “altcoins could dive deeper into the gutter.” Focusing on the impact of dollar liquidity and Federal Reserve policies, Hayes remains cautiously optimistic about the long-term outlook, expecting future monetary easing to benefit crypto. Arthur […]

A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new disclosures. California Court Upholds Bitcoin ATM Withdrawal Limit The California Department of Financial Protection and Innovation (DFPI) […]

Tesla CEO Elon Musk has expressed his eagerness to tackle excessive waste and regulations in the U.S. government, responding to a report that former President Trump is considering him for a role in auditing federal agencies. Musk emphasized the need to reduce wasteful spending to curb inflation and proposed forming a “government efficiency commission” to […]

Bitfinex’s analysts expect bitcoin’s price to potentially drop to the low $50,000s or mid $40,000s if the Federal Reserve cuts interest rates this month. The “historical price action for September also aligns with our view of a projected 20 percent drop in bitcoin prices following a rate cut,” the Bitfinex analysts said. Bitfinex Predicts Bitcoin […]

Turkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s administration views the shifting geopolitical landscape as an opportunity to strengthen ties with both Eastern and Western nations while remaining committed to NATO. Erdogan emphasized […]

The United Nations has expressed serious concerns about the arrest and charges against Pavel Durov, founder of Telegram, citing potential human rights issues. A U.N. spokeswoman called for adherence to international human rights standards, emphasizing the need for legality and proportionality in regulating social media platforms. United Nations Raises Human Rights Concerns Over Arrest of […]

Venezuelan President Nicolas Maduro discussed the possible future of the national cryptocurrency system following the so-called PDVSA-Crypto scheme, which resulted in the loss of $20 billion in unaccounted oil sales paid in crypto. Maduro stated that the country needed to retake the crypto path but gave no indications regarding the revival of the national cryptocurrency […]

Metaplanet and SBI VC Trade have formed a strategic partnership to enhance bitcoin trading, storage, and management. This alliance aligns with Metaplanet’s “bitcoin first, bitcoin only” strategy, emphasizing BTC’s scarcity and decentralized nature. The partnership provides Metaplanet access to SBI VC Trade’s tax-efficient corporate custody services and the ability to use bitcoin as collateral, supporting […]