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On Nov. 9, the Laos government announced it would halt business activities, levy fines and potentially revoke licenses of companies that do not meet their commitments or show progress in cryptocurrency mining and trading agreements in what is considered an inactive status. At the same time, outstanding fees from crypto operators owed to the state reached a U.S. equivalent of $20 million, according to Laos Prime Minister Sonexay Siphandone. A lack of progress During the proceedings of the sixth ordinary session of the National Assembly’s ninth legislature, Siphandone acknowledged a lack of progress from the two companies. The delay in fee payments to the state was attributed to the sluggishness of certain entities, while numerous investors demonstrated noteworthy advancements, contributing significantly to the state budget. The PM also acknowledged that payments were likely to be slow due to the value of crypto currencies, specifically Bitcoin, dropping in value by more than ...

Shiba Inu, the iconic meme-token that caused a frenzy in the crypto currency sphere in October 2021. It skyrocketed by an astonishing 1,000% in a mere 30 trading days. The meme coin continues to captivate the interest of investors. This extraordinary surge delivered substantial profits to early backers and propelled SHIB into a prominent position in the crypto currency world. Despite the fact that Shiba Inu currently trades at roughly 90% below its all-time peak, it retains a loyal following of investors. At the moment, SHIB is valued at $0.00000819, showing a modest 1.4% daily decline. Notably, in the past month, this meme coin displayed a noteworthy 18% increase in its value. It further hinted at the possibility of a more significant breakout in the near future. Can Shiba Inu replicate the remarkable performance it exhibited in October 2021? The answer to this question may hinge on the occurrence of a potential bull market. Along with this, Shiba Inu’s developments will play a...

A study by crypto tax software CoinLedger found that the retail and e-commerce industries have the largest number of companies offering to purchase through crypto currency. The study, received by crypto.news, compiled a list of more than 300 large companies. It turned out that in the ranking of cryptocurrency acceptance, retail, and e-commerce take first place. 60 companies accept cryptocurrency payments. These companies include Adidas, Yankee Candle, and H&M, as well as online shopping platforms such as Etsy. Crypto adoption rate | Source: CoinLedger Second on the list is the food and catering sector, with 54 companies represented. Examples include Chipotle, Chuck E Cheese’s, Domino’s, and Hard Rock Café, as well as delivery services such as DoorDash and Uber Eats. In third place is luxury retail, with 35 companies offering the service, including high fashion brands Gucci and Ralph Lauren, luxury watch retailer Hublot, and jewelry companies such as Jewelry...

Decentralized crypto wealth management platform MC2 Finance becomes the latest participant of the Cointelegraph Accelerator program. Decentralized finance (DeFi) might hold immense potential to solve the problems faced by traditional finance (TradFi). However, DeFi still struggles with onboarding new users -both retail and institutional- due to its limitations on the user experience side.  Despite all the innovation and development happening on the infrastructure level, the “DeFi revolution” is presented to users with unnecessarily complicated screens that would require expert-level technical knowledge.  To reach the mainstream, blockchain protocols need a robust infrastructure on the back while delivering a smooth, clean and user-friendly experience on the front. The easiest way to achieve this is to take a cue from what has worked in TradFi and fintech all these years in terms of user experience. MC2 Finance, a decentralized crypto asset management platform, aims to onboard both T...

Join Our Telegram channel to stay up to date on breaking news coverage The Canadian crypto industry has seen an increase in interest and activity by traditional financial institutions following the increase in regulatory efforts and clarity by the Canadian government, according to Dean Skurka, President and CEO of Canada-based exchange WonderFi. In an interview with Cointelegraph during the Blockchain Futurist conference in Toronto, Skurka stated that the platform had witnessed a rise in trading by institutions compared to retail investors. “What we have seen in the first half of this year is growth in our OTC institutional segment,” he said, adding that “These institutional investors, more sophisticated investors, are [more] immune to sentiment and trends in the market, and they’re more fundamental in their investment approaches. […] We’re starting to see, […] through clear regulation , that the segment of our client base is shi...

Coinbase has received regulatory approval from the National Futures Association [ NFA ] to offer crypto futures trading to eligible U.S. customers. Alongside, it has also received the green light to operate a Futures Commission Merchant [FCM]. $COIN – Coinbase Gets NFA Approval to Offer Crypto Futures — WSJ — *Walter Bloomberg (@DeItaone) August 16, 2023 The latest development allegedly makes Coinbase the first crypto platform to directly offer traditional spot crypto trading along with regulated and leveraged crypto futures. In a recently shared blog-post, Greg Tusar, the Head of Institutional Product at Coinbase, said that this served as a “critical milestone” and reaffirmed the company’s commitment to operate a regulated and compliant business. In effect, it puts Coinbase on the path to being the most secure crypto platform for customers. Also Read: Coinbase: ‘Fresh’ Whale Wallets Created in 2023 Drive Activity on Base ...

The job involves investigating crypto fraud, money laundering and other blockchain-based crime performed by organized groups. The United Kingdom's National Crime Agency (NCA) wants to expand its digital assets investigation team by hiring four senior investigators for its Complex Financial Crime Team (CFCT) that will work on crypto -related crime s.  The position involves investigating high-end crypto fraud, money laundering and other blockchain-based crime carried out by organized crime groups. The investigators will be working with a surveillance team and will work with London Police. Job posting for digital assets investigators. Source: National Crime Agency The role requires working and collaborating with other investigators, intelligence and analysis team members to develop complex cases using data and evidence from various sources.  The position requires a current or active Professionalising Investigation Programme Level 2 (PIP2) accreditation or any equivalent qualificati...

XRP made notable strides in the crypto market, leading to substantial gains. Within the last 24 hours, open interest on futures contracts linked to XRP exceeded $1.1 billion. This achievement marked another milestone, surpassing the $1 billion mark set the previous week and establishing a new record high for the year. Open interest is the number of unsettled futures contracts. This has experienced a 21% increase since earlier this week. Among these positions, the largest share of about $459 million is held on the crypto exchange Binance. Bybit was next in line at $304 million and Bitget followed suit with $263 million. Source A higher open interest indicates a surge in investments or bets on various assets. This signifies the influx of new funds into the financial market. Typically, this suggested an expectation for the current trend to persist. In parallel, the price of XRP experienced an astonishing surge of 67.42% in the past few days. At press time, the altcoin was trad...

2022 proved to be a challenging period for the crypto industry. The entire market suffered under the reigns of the bear. Despite the market’s credible recovery this year, the bears had remained dominant in the market. However, the series of events that have transpired over the last couple of months, and especially this week, has got many believing that the bear market might be coming to an end. Here are reasons why bears have exited the crypto market XRP’s Win For a considerable period, Ripple diligently engaged in a legal dispute with the Securities and Exchange Commission [SEC]. The regulatory classification of XRP as a cryptocurrency was questioned and efforts were made to categorize it as a security. However, a significant shift occurred when Judge Analisa Torres ruled that XRP does not qualify as a security. This victory weakens the SEC’s ability to label all tokens as securities. This is because they were unable to succeed with the one that appeared most...

The global crypto regulatory landscape has seen several amendments unfurl over the past few months. A host of nations have been tweaking their rules with the intention of protecting investors. Well, South Korea seems to be the latest one to jump onto the bandwagon. The South-East nation’s financial regulator, the Financial Services Commission [FSC], issued new draft rules pertaining to the accounting of cryptos and other digital assets recently. According to the draft, companies that issue or own crypto assets will have to provide in-depth disclosures in their financial statements from next year. This means internal information regarding their business models and internal accounting practices with respect to crypto sales and profits will have to be provided. Furthermore, they will also have to reveal details with respect to the number and characteristics of their crypto tokens. Firms that hold crypto assets for investment purposes have to disclose information pertaining ...

Dubai’s digital asset regulator, the Virtual Asset Regulatory Authority (VARA), has suspended crypto exchange BitOasis from operating in the region. The regulatory body accused BitOasis of failing to meet the necessary regulatory requirements, prompting the suspension that took effect on July 10. You can continue using BitOasis, knowing your assets are safe and secure, held 1-to-1, and our team will continue working closely with VARA and remediate all outstanding post-licensing conditions of our operational MVP license , and work towards a full market product (FMP) license — BitOasis (@bitoasis) July 11, 2023 BitOasis obtained a Minimal Viable Product (MVP) license from VARA on April 12, enabling the company to provide broker-dealer services. This license allowed traders to buy and sell cryptocurrencies and access digital wallet services through the platform. However, the license was contingent upon BitOasis fulfilling certain undisclosed requirements within 30 to 60 ...

Dubbed the Arkham Intel Exchange, the platform will enable the monetization of blockchain data and intelligence through a bounty mechanism that connects buyers and sellers. Arkham’s intel-to-earn economy goes live.  Arkham Intelligence, a blockchain analytics company headquartered in New York, has announced the launch of the Intel Exchange, an intel-to-earn platform the team claims will enable web3 sleuths and researchers to monetize their skills. The new Arkham Intel Exchange plans to bring buyers and sellers of valuable blockchain data related to any crypto wallet together via a bounty mechanism. “Anyone can post a bounty seeking on -chain information by locking funds to request information on crypto addresses or entities. These bounties can then be fulfilled by ‘bounty hunters’ – blockchain researchers or sleuths, who will exchange intel ligence in return for the payment.” Arkham Intelligence  You might also like: Binance likely updated bitcoin confi...

BarnBridge DAO’s legal counsel has claimed that the Securities and Exchange Commission (SEC) is investigating the allegedly decentralized organization. BarnBridge immediately terminated its liquidity pools, stopped creating new ones, and halted compensation to developers. Lawyer Douglas Park posted the announcement on Discord and BarnBridge tweeted it. Park said neither he nor fellow BarnBridge team members, Tyler Ward and Troy Murray, would comment on the ongoing investigation. Discord member Lord Tyler (possibly Tyler Ward himself) replied, “Confirming this is real.” Token-holders held personally liable There’s legal precedent for lawsuits personally affecting members of a decentralized autonomous organization (DAO). The US Commodities Futures Trading Commission (CFTC) won a sweeping victory against governance token-holders of another DAO called Ooki, with a judge agreeing that its members had to pay substantial fines and take down their website. Explaining hi...

Welcome to the 126th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only Crypto ? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join in and submit entries on Twitter. Any topic is fair game. 42 mins ago The Context: What’s true for TrueUSD? A deep dive into the lies shrouding the various Truecoins by @BennettTomlin Subscribe and read: https://t.co/lP1zkM0NcL pic.twitter.com/pSlxX0v2VD — Protos (@Protos) July 7, 2023 42 mins ago one more time for the people in backhttps://t.co/GhCHEIkQ5m — H.E. Cas Piancey (@CasPiancey) July 7, 2023 ICYMI 40 mins ago OPNX is being funded by the illegal use of funds from Hodlnaut. This is despicable for @OPNX_Official to be raiding whats left of @hodlnautdotcom users’ hard-earned savings. Shout out to @ArkhamIntel...

Want some worthless "paper" Bitcoin? With the rise of Bitcoin ETFs, you might soon have the chance to invest in something as worthless as the U.S. dollar. Recent weeks have seen a surge in interest from traditional finance for crypto -based exchange -traded funds (ETFs). After the Securities and Exchange Commission took issue with its initial filing, BlackRock submitted a fresh application for a Bitcoin ETF on July 3. A week earlier, Fidelity led a crop of investment firms in lodging applications with the SEC for Bitcoin-based ETFs. Meanwhile, HSBC has become the first bank to offer Bitcoin (BTC) and Ether (ETH) ETFs to customers in Hong Kong. In the context of Bitcoin, it is often the seemingly positive news that is harmful over the longer term; and vice versa, short-term negative news often serves to strengthen the ongoing case for Bitcoin. A good example of the latter is the 2017 “Blocksize War,” when the Bitcoin community split into the big block camp that launched the B...