Author: Crypto News Live
Hong Kong has been making headlines in the crypto space ever since it announced it would allow retail crypto trading in May 2023. On June 1, Hong Kong implemented new crypto regulations to license exchanges, with the Hong Kong Securities and Futures Commission (SFC) marking the occasion by issuing a flurry of regulatory guidance for operators of Virtual Asset Trading Platforms (VATP). It is important to note that while cryptocurrencies have faced prohibition in mainland China since 2021, Hong Kong has its own distinct financial system and regulatory bodies. On June 13, an explanation of these regulations written by Gilbert…
TL;DRApple sent the Damus admins a note which said (we’re paraphrasing): “Hey you know what? I know your app’s been available with the ‘zap’ feature for months, but it goes against our terms. Oh, and you’ve got 14 days to submit a new version or we’ll remove it from the App Store.”As the Damus team Tweeted: “Damus doesn’t sell any digital goods or provide features for selling digital goods. It simply has a tip button for facilitating p2p transactions like venmo or cashapp.”The Damus case will undoubtedly set a precedent on whether Web3 apps can use the Lightning Network (or…
House Financial Services Committee urges Congress for a clear regulatory framework on digital assets. Jurisdictional challenges between SEC and CFTC complicate digital asset classification. The lack of consistent standards leads to uncertainty for market participants and investors. In an ongoing motion, the House Financial Services Committee has called upon Congress to establish a consistent and clear regulatory framework for digital assets, emphasizing the need for regulatory certainty in the ever-evolving landscape. The motion highlights the jurisdictional challenges between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and the difficulty in determining whether a digital asset…
The European Parliament has passed the EU AI Act, a sweeping legislative framework for governance and oversight of artificial intelligence technologies in the European Union.EU AI act: first regulation on artificial intelligenceThe use of artificial intelligence in the EU will be regulated by the AI Act, the world’s first comprehensive AI law. Find out how it will protect you ⬇️https://t.co/CQqAi7S8lR pic.twitter.com/GzVfIne7tH— Europarl UK (@EPinUK) June 14, 2023 The measure passed in Parliament during a June 14 vote that saw majority support for the act in the form of 499 votes for, 28 against and 93 abstaining. The next step before…
Bloomberg Intelligence’s senior macro strategist Mike McGlone says that one major factor has him bearish on the crypto markets. In a new interview with crypto analyst Scott Melker, McGlone says that the high interest rates currently offered on US Treasury Bills (T-Bills) is sucking liquidity out of the crypto markets. T-bills are short-term government debt obligations sold at a discount, the difference between the purchase price and the face value being accrued interest. Four-week to one-year T-Bills have recently been auctioned off with more than 5% interest. He also says one indicator of a liquidity drain is the declining market…
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The market structure was bearish and a downtrend was in progress. The selling pressure remained strong and a reversal was not yet in sight. A week ago on 7 June, Ethereum prices climbed hopefully toward the $1900 mark. A previous report highlighted the $1890-$1930 as a stiff zone of resistance. Since then, ETH has posted losses on the price charts. Read Ethereum’s [ETH] Price Prediction 2023-24 The total value of ETH 2.0’s Deposit Contract reached an ATH on 13…
The Bitcoin community is abuzz with the emergence of something called Recursive Inscriptions. A novel new development building upon the continued hype of the Ordinals Protocol, Recursive Inscriptions seem poised to both disrupt the growing Bitcoin NFT ecosystem and redefine the parameters of blockchain-based file storage as we know it. But how? And why should the NFT space care? Let’s explore. What are Recursive Inscriptions? Recursive Inscriptions can seem a bit complex. But unsurprisingly, they have everything to do with the Ordinals Protocol. Aa s refresher, the Ordinals protocol was first introduced to the world on January 21, 2023, by…
But, in retrospect, furious times have often proven to be the perfect moments to amass high-quality NFT projects at rock-bottom costs. Every significant drop in the cryptocurrency market has been followed by far greater highs. Although investors may lose interest, NFT developers continue to create with zeal – inventive and powerful initiatives thrive while poor ones wither. Art Gobblers, the NFT product co-created by Rick and Morty voice performers, has made over $13 million in only two hours of its debut, rising from the ashes of the merciless 2022 market. The next article of Coincu will explain the Art Gobblers…
In a series of blog updates over the past couple of months, The Otherside team has revealed many new details about the gameplay for their upcoming Legends of Mara game, which is centered around Otherdeeds, Kodas, and Vessel NFTs! Legends of the Mara is an upcoming, land-based game about gathering resources, evolving Vessels into Mara and Mara into Kodamara, and defending against The Shattered, a race of mysterious, dangerous Titans. To start playing, you must own an Otherdeed Expanded. This is an Otherdeed that has been run through a contract which detaches any associated Kodas, generates a Vessel NFT, and…
beginner When it comes to exchanging value, two types of currencies come to mind: cryptocurrency and fiat currency. While both serve as mediums of exchange, they operate differently, have distinct underlying technologies, and are subject to varying levels of regulation. Understanding the similarities and differences between these two currencies is essential as they impact the way we manage our finances. In this article, we will explore the differences between cryptocurrency and fiat currency, including their origins, use cases, and advantages and disadvantages. By the end of this article, you will have a better grasp of features intrinsic to these two…
