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Avail, a project spun out of Polygon earlier this year to handle blockchain data storage and validation, announced Friday that it has launched a new project designed to reduce the cost of Layer 2 and Layer 3 chains in the Ethereum ecosystem. The service “Data Authentication Bridge'' has been launched. Storing data on Ethereum can be expensive, so Avail allows layers 2 and 3 to expose data off-chain and avoid the high-value transactions that occur by posting data to the main Ethereum blockchain. We aim to be a solution to reduce fees. The idea is to ensure that the main…
The number of cryptoassets that can be used as a means of payment has exploded to more than 10,000 types since the introduction of the first and still largest cryptocurrency, Bitcoin, in 2009. It has developed with incredible speed, and due to its anonymity, tax systems are catching up. New paper explores how governments address the new challenge of taxing crypto assets while their use is still restricted to prevent tax revenue leakage and protect the integrity of the tax system We will discuss whether it is possible. Classification of cryptocurrencies We have diverse perspectives on crypto assets and are…
BlackRock (BLK) CEO Larry Fink said in an interview with Fox Business on Wednesday that cryptocurrencies, specifically Bitcoin (BTC), have the potential to revolutionize the financial system. .“We believe that the further tokenization of assets and securities, which Bitcoin is, has the potential to revolutionize finance,” he said. Fink, who was previously known to be skeptical of cryptocurrencies, suggested several years ago that crypto enthusiasts frequently use them for “illicit activities.”Mr. Fink continued: “Rather than investing in gold as a hedge against inflation, a hedge against a country’s troubles, or a hedge against the devaluation of its currency in any…
After a rollercoaster 18 months, Bitcoin (and not necessarily the entire U.S. crypto market) will be on the upswing in the second half of 2023, according to analysts at Adamant Research and Standard Chartered Bank. It is said that there is a possibility. A key factor is likely to be increased adoption by traditional financial companies. Important points New efforts by traditional financial companies into Bitcoin Spot ETFs could push Bitcoin prices higher.Analysts say the worst of the Bitcoin bear market is over and the price could exceed $100,000 in the next few years.Regulatory developments and the outcome of a…
Vitalik Buterin, co-founder of Ethereum, the second largest cryptocurrency project by market capitalization, has taken a stance on recent actions taken by the US Securities and Exchange Commission (SEC) in the area of enforcement against cryptocurrencies. . Buterin noted how projects like Solana are included in these lawsuits and said the real competition is in a “centralized world.” Vitalik Buterin talks about SEC cryptocurrency enforcement action Ethereum co-founder Vitalik Buterin has shared his thoughts on recent crypto enforcement actions taken by the U.S. Securities and Exchange Commission (SEC) against exchanges and crypto projects. When asked Matt Hwang, co-founder of California-based…
Cryptocurrency markets ended the quarter on a strong note despite news that the Securities and Exchange Commission may prompt many financial giants to reconsider their Bitcoin ETF applications.Bitcoin fell less than 1% to around $30,300 and has been trading relatively flat since passing the $30,000 milestone on June 23. Meanwhile, Ether rose 4% to $1,923.BTC + ETH priceThe stock market continued its recent bullish momentum, with the S&P 500 rising more than 1% to close at its highest since April 2022.TradFi Giants Refile ETF ApplicationMarkets were roiled earlier in the day after it was reported that BlackRock and Fidelity may…
Sys Labs, developer of the Syscoin blockchain, which aims to combine Ethereum-style programmability with the security of Bitcoin, has created a “layer 2” network called Rollux to enable cheaper and faster transactions. I launched it. Similar to the main Syscoin blockchain, the Rollux network is compatible with the Ethereum Virtual Machine (EVM), the software that runs smart contracts on top of Ethereum. The project obtains security from Bitcoin miners through a process known as merge mining, which was originally proposed by Bitcoin inventor Satoshi Nakamoto in 2010. According to Jagdeep Sidhu, CEO of Sys Labs, the Rollux network is intended…
Chairman Miller, Ranking Member McCarthy, and members of the subcommittee, thank you for having me here today. My name is Douglas Elliott. I'm an economics research fellow at the Brookings Institution, but I'm here in a personal capacity and not representing the institute, which has no policy positions. The euro crisis is of great concern, in part because the path it takes is likely to be a key determinant of whether the United States slips into another recession. I am convinced that if a series of countries default on their government debts and Europe is shaken, the continent will fall…
Please join us telegram Channels where you can get the latest information on breaking news The Bank for International Settlements (BIS) has unveiled a pioneering CBDC blueprint that demonstrates the use of managed cryptography. With this breakthrough blueprint, BIS is redefining the central bank digital currency landscape and shaping the future. Pioneer of the Future: BIS Reveals Strategic Plan for Central Bank Digital Currency (CBDC) BIS, which oversees central banks around the world, has shared its plans for central bank digital currencies (CBDCs). Different countries can use the blueprint to develop and implement his CBDC. BIS believes that CBDCs can…
Stay informed with free updatesJust sign up for cryptocurrency myFT Digest — delivered straight to your inbox.HSBC has a history of money laundering blunders. The company was fined in the US a decade ago for its role in enabling drug cartels in Latin America, and in the UK in 2021 for a series of failures, including serving a criminal gang leader. Ta. Therefore, it is understandable that fellow bank Standard Chartered is reluctant to accept Hong Kong's crypto exchanges as customers. “Come on, come on,” Binance’s then-chief compliance officer Samuel Lim said of some customers in a 2020 chat, according…