Crypto News

What is the STABLE Act? The STABLE Act, or the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, is a proposed bill in the United States that aims to regulate stablecoins, or digital assets that are pegged to a stable asset like the US dollar. This bill was introduced by Representatives Rashida Tlaib, Jesus "Chuy" Garcia, and Stephen Lynch in December 2020. Why is it controversial? The STABLE Act has faced criticism from the crypto community and industry experts for its potential negative impact on innovation and development in the crypto space. Many argue that this bill would stifle competition and hinder the growth of stablecoin projects, ultimately harming consumers and the overall economy. Trump-linked stablecoin ventures under scrutiny As the STABLE Act gains traction, there has been increasing scrutiny of stablecoin ventures with ties to former President Donald Trump. This includes the controversial stablecoin p...

Partnership with Crypto Foundation The startup, called Symbiosis Network, has joined forces with the Crypto Foundation, a non-profit organization focused on promoting the use of blockchain technology and cryptocurrency. The two have submitted a proposal to acquire TikTok in its entirety, including its vast user base and valuable algorithm. This partnership between a social media and adult content mogul and a crypto foundation has raised eyebrows in both industries. Stokely, who has built a successful platform with OnlyFans, sees an opportunity to expand his reach and diversify his business portfolio. Meanwhile, the Crypto Foundation sees TikTok as a potential platform to showcase the benefits and potential of blockchain technology and cryptocurrency to a massive audience. Opportunities for Growth and Innovation Both parties believe that the acquisition of TikTok would bring about significant opportunities for growth and innovation. W...

As the sun sets, let's wrap up the day's whirlwind of crypto headlines with a Crypto Talkies curated just for you. It’s been a day of strategic moves, market jitters, and notable achievements in the crypto world. Kristin Smith is making a notable transition as she prepares to leave the Blockchain Association to helm the newly unveiled Solana Policy Institute, marking another strategic pivot within the blockchain advocacy landscape. This move echoes throughout the industry, even as North Korean tech workers continue their infiltration efforts in European blockchain firms, particularly targeting Solana projects. Meanwhile, VanEck takes a bold step by filing for the first U.S. BNB ETF in Delaware. This move not only indicates increasing mainstream interest in Binance Coin (BNB) but also suggests a broader acceptance of crypto investment products. BNB's trading volumes surged as investors responded with enthusiasm, hoping for a price uptick. In the realm of market dynamics, X...

CBDC Adoption in South Korea The adoption of CBDCs has been a hot topic in the crypto world, and South Korea is one of the countries at the forefront of this trend. The country has been actively exploring the use of CBDCs, with the central bank, the Bank of Korea, conducting various pilot projects and research studies to test the feasibility and effectiveness of a CBDC. 7-Eleven as a Major Retailer 7-Eleven is a household name in South Korea, with over 9,000 stores across the country. Its involvement in the CBDC project is significant as it could potentially pave the way for other major retailers to start accepting CBDC payments. This could lead to wider adoption and use of CBDCs in everyday transactions, further driving the growth and development of the crypto market. Discounts and Incentives The 10% discount offered by 7-Eleven for CBDC payments is a great incentive for customers to try out this new form of digital currency. It also showc...

The Impact of Low Liquidity on Crypto Markets The cryptocurrency market has always been known for its volatile nature, with prices constantly fluctuating and unpredictable shifts in market sentiment. However, one factor that often goes overlooked is the impact of low liquidity on crypto markets. With the rise of decentralized exchanges and the increasing popularity of altcoins, low liquidity has become a common issue in the crypto space. Understanding Liquidity in Crypto Markets Liquidity refers to the ease with which an asset can be bought or sold without significantly affecting its price. In traditional markets, high liquidity is seen as a sign of a healthy and stable market. However, in the crypto space, low liquidity can have a drastic impact on prices and create market imbalances. In simple terms, low liquidity means that there are not enough buyers and sellers in the market, leading to low trading volume and large price swings. This ...

As the sun sets on another bustling day in the crypto world, there's plenty to unpack from the cascade of headlines that have graced our screens. Let's dive right into the highlights of this evening's sundown digest. Crypto investment products are showing signs of a cautious revival with last week's $226 million in inflows. Bitcoin (BTC) remains the frontrunner, attracting $195 million, while its altcoin counterparts, Ethereum and Solana, pulled in a collective $33 million. Despite a decline in total assets under management, this surge in inflows hints at a flicker of optimism among investors. Metaplanet, a Japanese firm, is making waves with its unique debt strategy. The company has raised 2 billion yen ($13.3 million) through zero-interest bonds to boost its Bitcoin holdings to a robust 4,046 BTC. This bold move underscores Metaplanet's confidence in Bitcoin's potential, even as market conditions waver. In a dramatic twist, a hacker who exploited $9.6 milli...

Regulating Digital Assets in Vanuatu Vanuatu, a small island nation in the Pacific, has recently taken steps towards regulating digital assets. This move is aimed towards providing a safe and secure environment for cryptocurrency companies to operate within the country. The Vanuatu Financial Services Commission (VFSC) has been given the authority to issue licenses to crypto service providers, making the country one of the first in the region to have a licensing regime for crypto companies. Stringent Laws for Crypto Companies The newly passed legislation, known as the Virtual Asset Service Providers Act, has been described as “very stringent” by a government regulatory consultant. This means that crypto companies wanting to operate in Vanuatu will have to adhere to strict regulations and comply with international standards such as the Financial Action Task Force's Anti-Money Laundering, Counter-Terrorism Financing and Travel Rule standar...