Privacy coins and zero-knowledge technology, which some use to obfuscate the identity of sends/receivers and transaction amounts, have gained enormous popularity in recent years due to mounting regulatory surveillance against the crypto sector. But despite their rapid rise in market cap, critics continue to scrutinize such class of assets as enablers for masking illicit activities.
Big Four accounting firm EY has recommended that banks should change their regulatory perimeter to address the oncoming launches of state-backed central bank digital currencies (CBDC) and private stablecoins. EY’s 2022 Global regulatory outlook highlighted the need for a policy change that can help financial services firms overcome business uncertainties amid mainstreaming of digital assets
Frax Share (FXS) has been one of the few altcoins to pull off a dominant price performance amid the down market of late 2021 to early 2022. In the month between Dec. 14 and Jan. 14, FXS was up 128% against the U.S. dollar and 159% against Bitcoin (BTC). In addition to this impressive feat,
Terra’s native staking token, LUNA, was one of the best-performing cryptocurrencies of 2021, with gains north of 13,000%. Terra has also surpassed Binance Smart Chain (BSC) in total locked value with $17.62 billion, making it the second-biggest DeFi chain just after Ethereum. Much of this growth is due to Terra’s ecosystem, with a community of
[embedded content] In this special Apex edition of The Ripple Drop, we run down the highlights of the inaugural event, then zoom in to look at Ledger City and xApps, two of the many exciting projects being built on the XRP Ledger (XRPL) that were featured at Apex. Apex is a Hit The first-ever Apex
Hong Kong’s central bank, the Hong Kong Monetary Authority (HKMA), wants to supervise stablecoin issuance and reserves management. HKMA published a discussion paper on Jan. 12 regarding cryptocurrencies and stablecoins, in which it provided its views on how the industry should be regulated in Hong Kong. In the 34-page long consultation document, the HKMA paid special
It seems as though the potential benefits of cryptocurrency are often overshadowed by the technology’s inherent vulnerability to exploitation. And it’s true, crypto adoption does come with risks. Over the past year, governments from around the world have raised concerns that crypto could be used to finance terrorism or other illicit activity like money laundering.
The Mozilla Foundation’s back-tracking on crypto has earned a reaction from the creator of the world’s first meme cryptocurrency. On Dec. 31, 2021, Mozilla, the developers of the Firefox internet browser, tweeted that the company was accepting cryptos like Dogecoin (DOGE), Ether (ETH), and Bitcoin (BTC) as donations, along with a Bitpay donation link. However, less than
Pakistan’s Federal Investigation Agency (FIA) reportedly issued a formal notice to crypto exchange Binance in an effort to identify links around a multi-million crypto scam in the region. The government of Pakistan started a criminal investigation after receiving numerous complaints against an ongoing scam that involved misleading investors into sending funds from Binance wallets to
American fintech giant PayPal Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser. Confirming the evidence found on the PayPal app, Jose Fernandez da Ponte, PayPal’s SVP of crypto
Bitcoin (BTC) consolidated above $42,000 prior to Wall Street’s opening bell on Jan. 7 as more similarities to last year’s lows emerged. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC “very closely” mimicking May behavior Data from Cointelegraph Markets Pro and TradingView tracked a nervous Bitcoin market as BTC/USD avoided another retest of $40,000 support. Earlier,
The cryptocurrency community has raised concerns about Maricoin, a new token supposedly related to the LGBT+ community, with some people even suspecting the project to be a scam. Launched in December 2021, Maricoin promises to enable a “social, ethical, transparent and transversal means of payment” targeting the global “pink economy,” which is estimated to amount
Yearn Finance (YFI) looks poised for a price correction after rising five days in a row to approach $42,000. Notably, an absence of enough buying volume coupled with overbought risks is behind the bearish outlook. The YFI price rally so far YFI price surged by a little over 47% in five days to $41,970 as
Rounding up the last decade, Ethereum co-founder Vitalik Buterin revisited his predictions made over the years, showcasing a knack for being right about abstract ideas than on-production software development issues. Buterin started the Twitter thread by addressing his article dated Jul. 23, 2013 in which he highlighted Bitcoin’s (BTC) key benefits — internationality and censorship
In a recent YouTube video, Charles Hoskinson highlighted the rapid growth of the Cardano (ADA) ecosystem while clarifying the concerns raised by other members of the crypto community over the past year. “We live in a world where arbitrary groups of people get to be fact-checkers and decide what’s legitimate,” said Hoskinson while speaking about
Bitcoin (BTC) put in an early end-of-year flourish on Dec. 31 as an upward boost saw BTC/USD retake $48,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Options expiry fades Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly gaining over $1,500 in a single hour on Friday. A refreshing counterpoint to several days of downtrend,