BITCOIN

The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October. FSB to Present Robust Crypto Regulatory Framework to G20 in October The Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system, released a statement Monday on the “international regulation and supervision of crypto asset activities.” The G20 watchdog stated that it is committed to promoting “international consistency of regulatory and supervisory approaches amongst national authorities and international standard-setters as they work towards developing risk-based, technology-neutral policy for the wide spectrum of crypto-assets, grounded in the principle of ‘same, activity, same risk, same regulation.'” Noting that crypto assets, including stablecoins, are fast evolving, the FSB explained that th...

NFT domains enable users to establish a presence on the decentralized web and the metaverse, with Quik.com providing top-level domains such as .metaverse, .vr, .web3, and many other powerful options for users to claim. Check out metaverse domains . The metaverse ideology and the emerging concept of brands establishing themselves in the decentralized web-based virtual universe have created a race for top-tier domains for businesses, individuals, and many developers to acquire the best at the early stages of this virtual universe. While traditional domains optimize a centralized dispute resolution process and are managed by the Internet Corporation for Assigned Names and Numbers (ICANN), decentralized domains give rightful owners control over their websites and prevent third-party interference, reducing reliance on ICANN. The growing popularity of NFTs and decentralized technology giving sole autonomy to the owner have raised the bar to eliminate the high barriers controlling the ...

Bitcoin started the week in the red, as Monday saw prices fall for a second consecutive session. Following a recent run towards $22,000, the world’s largest crypto dropped below $21,000 earlier today, with ETH slipping below $1,200. Bitcoin Bitcoin dropped below $21,000 on Monday, as prices continued to slip, following a recent encounter with a key resistance point. Since hitting its resistance level of $22,070 on Friday, BTC has fallen for three straight sessions, with today’s decline hitting a low of $20,395.39. This move saw the token fall from an interim support point at $20,500, which usually is one of the last remaining defenses preventing price from falling below $20,000. Should bearish momentum continue, not only could we see the $20,000 mark broken, but bears will likely target a floor of $18,845. Price strength seems to be heading in that direction, with the 14-day RSI fast declining toward its own floor at 37.90. One thing to note, however, is that the 10-day movin...

Venezuela, one of the first countries in Latam to be considered “crypto-friendly” by some standards, has ranked third in adoption rates, according to a report issued by the United Nations. The report, issued last month, states that the cryptocurrency ecosystem has grown by 2,300% between September 2019 and June 2021, and that the Covid-19 pandemic was one of the main catalysts for this growth. Venezuela Among Countries With Most Crypto Adoption A report issued by the United Nations Conference on Trade and Development has found that Venezuela ranks third among the countries with the most cryptocurrency adoption, only behind Russia and Ukraine. The report, which also deals with the causes of this growth and crypto regulation, found that 10.3% of citizens in Venezuela held cryptocurrencies. Russians were second on the list, with 11.9% of the population holding crypto, while Ukraine ranked first, with 12.7% of its citizens holding some kind of crypto. This can be explained by the econ...

Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service in Mexico last year in partnership with Circle. Bitso Expand Remittances Program to Colombia Exchanges are embracing crypto as a useful tool to transfer value across borders. Bitso, a Mexican-based exchange with operations in several countries in Latam, has announced the launch of a remittance service in Colombia this week. With these new services, Colombian users will be able to send and receive remittances using digital dollars on the platform of the exchange. The service will be focused on remittances sent from and to the U.S., and according to the exchange, it’s one of the destinations where remittances sent experienced significant growth during the last year. While the company did n...

Binance, one of the largest crypto exchanges worldwide, has secured a license from the Bank of Spain that will let the exchange operate in compliance with the local laws. This certification means that the exchange is currently complying with its AML/KYC processes required by the government of the country. More than 17 companies have received this certification by now. Binance Gets Operating License From the Bank of Spain Binance, the cryptocurrency exchange, has received the certification of the Bank of Spain to operate as a Virtual Asset Service Provider (VASP) in the country. This means that the authorities have found that Binance, through its Spanish subsidiary Moon Tech Spain, S.L., complies with all of the AML/KYC processes established by the Bank of Spain. This is a major milestone for the exchange in the country, that had applied to receive this certification since January. The company is now allowed to offer its cryptocurrency trading and custody services in the country wi...