Author: CryptoReporter

Source: Brendan Church/UnsplashThe chief architect of Russia’s long-awaited crypto legislation has insisted that crypto trading regulations and new rules about the governance of the crypto mining sector must be addressed in the same bill. And the news could be good for Russian crypto miners – with tax breaks on the cards.Per the Russian news outlet Finmarket, Anatoly Aksakov, the head of the State Duma’s Financial Markets Committee, told attendees at the recent Kazan Digital Week 2022 forum:“The issue of legalizing crypto mining should be resolved simultaneously with the legalization of the circulation of cryptocurrencies, since distributed ledgers cannot exist without…

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Source: AdobeStock / Iryna BudanovaBinance, the world’s largest cryptocurrency exchange by trading volume, has announced the creation of an eleven-person all-star team of experts in public policy, government, finance, economics, and corporate governance to spearhead its global success. In a press release, Binance stated that the team which will be called its Global Advisory Board (GAB) will advise the exchange on some of the most complex regulatory, political, and social issues facing the entire crypto industry as it “grows and evolves at a fast pace.” Max Baucus, former U.S. Ambassador to the People’s Republic of China; former Chairman of the Senate Committee on…

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After several delays and some setbacks, Cardano’s long-awaited Vasil upgrade finally went live on Sept. 22. From the outside looking in, the hard fork is designed to help improve the ecosystem’s scalability and general transaction throughput capacity as well as advance Cardano’s decentralized applications (DApps) development capacity. To commemorate the event, an announcement was made by blockchain firm Input Output Hong Kong (IOHK) — which currently oversees the design, building and maintenance of the Cardano platform — just minutes after the development.To obtain a more holistic overview of what the upgrade represents and its potential impact on Cardano (as well as…

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Bitcoin price is consolidating below the $19,500 resistance zone.Ethereum is facing resistance at $1,350, XRP is consolidating gains near $0.48.Major global currencies such as EUR and GBP saw a massive drop versus the US Dollar.Bitcoin price managed to stay above the key $18,500 support. BTC is currently (03:10 UTC) consolidating near the $19,000 level. To start a fresh increase, the bulls need to gain strength for a move above the $19,500 resistance zone.Similarly, most major altcoins are trading in a range. ETH corrected lower, but the bulls were active above $1,250. XRP started trading in a range near the $0.48…

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When Redditor Joe Greene started the Top 10 Cryptos experiment in 2018, he bought $1,000 of Dash, NEM and Iota, among others, only to watch it crash to $150. But five years on, his experiment has paid off big time.The rules: Buy $100 of each of the top 10 cryptocurrencies on Jan. 1, 2018, 2019, 2020 and 2021. Hold only. No selling. No trading. Report monthly.Every January since 2018, Greene has reviewed a list of the top 10 cryptocurrencies by market cap from his tropical office in Bali. He puts $100 of his own money into each, tracks the performance…

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Source: Guillermo Latorre/UnsplashOne of the top executives at Upbit, South Korea’s market-leading crypto exchange, has spoken out in favor of new crypto regulations both at home and abroad – and has suggested that while they may cause the markets more short-term pain, the industry is set to benefit in the long term.The comments came from Kim Young-bin, the Chief Legal Officer (CLO) at Dunamu, Upbit’s operator. He claimed that – with Seoul edging toward the creation of a new bill to regulate the industry and the European Union developing its own markets in crypto-assets (MiCA) proposal – crypto was about…

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Until 2020, most of the crypto market action was largely driven by retail enthusiasm. It was only around August 2020 that institutions started to participate meaningfully in this asset class. As the United States Federal Reserve unleashed trillions of dollars of liquidity into the market during the COVID-19 pandemic, retail and institutional investors jumped onto the cryptocurrency bandwagon.While crypto loyalists claim large-scale institutional adoption over the last couple of years, the entire asset class is only around $1 trillion in size. That is quite small when compared to the gold market of $11 trillion and the bond market of over…

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The price of XRP has jumped by 20% in 24 hours, reaching $0.512129 as of writing. This represents a surge of 56% in a week, as positive developments in the legal battle between Ripple and the SEC indicate that the case could be settled sooner rather later.What’s most promising for investors is that the rise of the past day is mostly XRP making up for lost ground, with the market downturn of the past week meaning that the altcoin is still down by 48% in the past 12 months. It’s also down by 85% since its current all-time high of…

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To support the Terra community’s efforts to revive the Terra LUNA Classic (LUNC) token, crypto exchange Binance announced an off-chain burning mechanism last week. However, after receiving mixed reactions from community members, the exchange revised its burning approach. On Sept. 23, Binance CEO Changpeng Zhao wrote that the exchange will create an optional 1.2% tax when trading LUNC. Zhao added that they will roll out the 1.2% tax for all LUNC trading if traders who opt-in to pay the tax reach 50% of the total LUNC trading volume on the exchange, leaving the decision to users. However, days after the post,…

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As the Ethereum network’s move to a proof-of-stake (PoS) consensus mechanism drives adoption from institutional investors, the prices for graphics processing units (GPUs), often used for mining cryptocurrencies like Ether (ETH), have gone down in China. Following the historic Ethereum Merge on Sept. 15, the previously highly sought-out Nvidia GeForce GPUs have become significantly cheaper, according to a report by the South China Morning Post. Peng, a Chinese merchant, gave the RTX 3080 as an example as the GPU’s price dropped from $1118, or 8,000 yuan, to 5,000 yuan within three months. According to Peng, when Bitcoin (BTC) mining was at…

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