The United Kingdom’s Treasury Committee had suggested in May that unregulated cryptocurrencies should be treated like gambling. However, the HM Treasury strongly denies this proposal. According to Financial Services Minister Andrew Griffith, treating cryptoassets as a form of gambling goes against globally agreed recommendations from international organizations and standard-setting bodies. The UK government believes that
Blockchain
RISC Zero, a startup specializing in zero-knowledge (ZK) proof software, has successfully raised $40 million in a Series A funding round. The leading investor in this round was Blockchain Capital, a prominent crypto-focused investment firm. RISC Zero plans to utilize the newly acquired capital to launch its Bonsai computing platform. Bonsai: Simplifying Application Development Bonsai
Crypto traders are expressing pessimism in the derivatives market regarding Binance’s native coin BNB, as regulatory turmoil continues to plague the embattled crypto exchange. According to data from Coinglass, the open interest-weighted funding rate for BNB turned negative over the weekend. This negative open interest indicates that traders who are betting on a price decline
The Securities and Exchange Commission (SEC) chair, Gary Gensler, has voiced his disappointment regarding a recent court ruling that declared Ripple’s XRP token as “not in and of itself” a security. While speaking at an event hosted by the National Press Club in Washington DC, Gensler expressed his displeasure on behalf of retail investors while
The United States appears to be on the brink of reaching an agreement between Republicans and Democrats regarding the regulation of stablecoins. Two influential members of the Financial Services Committee in the US House of Representatives, who were responsible for drafting the bill on stablecoin regulation, have revealed that Republicans are in favor of a
According to a recent report by blockchain intelligence firm Chainalysis, crypto scammers have had a disappointing year so far in 2023. The report reveals that inflows to “known illicit entities” have dropped by 65% compared to the same period last year. Additionally, inflows to “risky” entities have decreased by 42%, while inflows to “legitimate services”
Bitcoin’s next “halving,” an event that occurs approximately once every four years and reduces the asset’s inflation rate, is fast approaching. Expected to take place on April 26, 2024, at Block 840,000, the halving will decrease the number of Bitcoin (BTC) produced every ten minutes from 6.25 BTC to 3.125 BTC. This event is anticipated
Cathie Wood’s Ark Invest, an investment management firm, sold 478,356 shares of Coinbase, the popular crypto exchange, on Friday. This move comes as the stock prices of Coinbase reached a 52-week high. Interestingly, this is the second time within a week that Ark Invest has sold off Coinbase shares. Just a few days earlier, on
The BNB Beacon Chain, part of the Binance blockchain ecosystem, is set to experience a planned hard fork upgrade on July 19th at 6:00 UTC. This upgrade, known as “ZhangHeng” after a renowned Chinese scientist, will take place at block height 328,088,888, as stated in the official announcement on July 12th. A hard fork refers
Bitcoin’s energy efficiency has long been a concern as mining activities consume significant amounts of electricity. However, a recent report by Coinmetrics reveals that the energy efficiency of Bitcoin has improved significantly over the past five years. The report also highlights that three mining rig models dominate the Bitcoin network’s computing power, reinforcing the need