This Is What Happened In The Cryptocurrency World Today: 17/04/2023

Stay up-to-date with the latest cryptocurrency news and events. Read about what happened in the cryptocurrency world today, including market trends, price fluctuations, and new developments.

This Is What Happened In The Cryptocurrency World Today: 17/04/2023

 


Chinese banks are opening bank accounts for regulated cryptocurrency companies, with some serving as a payment layer for the crypto platforms.

Chinese banks now allow regulated cryptocurrency companies to open bank accounts, a significant step towards legitimizing the digital asset industry. With some banks even serving as a payment layer for cryptocurrency platforms, China is easing its strict stance against cryptocurrencies.
This move is significant as it could lead to increased adoption of cryptocurrencies in China, one of the world’s largest economies. In addition, allowing these companies to access traditional banking services could help bridge the gap between the conventional financial system and the cryptocurrency world.

 

However, it’s worth noting that not all cryptocurrency companies will be able to benefit from this new policy. For example, only those regulated by the Chinese government can open bank accounts. Nonetheless, this is a positive development for the cryptocurrency industry and could be a sign of things coming from other parts of the world.

 

 

Twitter, in collaboration with eToro, now offers cryptocurrency and stock trading.

Twitter has announced a new collaboration with the popular investment platform, eToro, allowing users to trade cryptocurrencies and stocks directly through social media. This integration is part of Twitter’s continued efforts to expand its financial offerings, providing users a more streamlined and convenient way to invest and manage their assets.


Through eToro, Twitter users will have access to a wide range of investment options, including popular cryptocurrencies such as Bitcoin and Ethereum, stocks, and other traditional assets. This move also highlights the growing mainstream acceptance of cryptocurrencies, with more and more companies recognizing the importance of this emerging asset class.


Overall, this partnership between Twitter and eToro is a significant development in the financial industry and has the potential to open up new investment opportunities to millions of users across the globe. As digital currencies continue to gain traction, we’ll likely see more collaborations like this as traditional financial institutions and tech companies work to integrate this new asset class into their offerings.

 

 

US Representative Warren Davidson plans to propose legislation to remove SEC Chair, Gary Gensler.

US Representative Warren Davidson has announced plans to propose legislation to remove SEC Chair Gary Gensler from his position. The move comes after Gensler’s recent comments on cryptocurrency regulation, which many in the industry have criticized as overly restrictive.
A vocal advocate for cryptocurrency and blockchain technology, Davidson has long been critical of the SEC’s approach to regulating digital assets. He argues that the agency’s current policies are hindering innovation and growth in the industry and that a change in leadership is necessary to address these issues.

 

While it remains to be seen whether Davidson’s proposed legislation will gain traction in Congress, it’s clear that the debate over cryptocurrency regulation is far from over. As digital assets continue to gain mainstream acceptance, policymakers will face the challenge of balancing innovation and growth with the need to protect consumers and maintain market stability.

 

 

As part of its economic diversification efforts, the Kingdom of Bhutan invests an undisclosed sum in Bitcoin and other digital currencies.

The Kingdom of Bhutan has announced that it has invested an undisclosed sum in Bitcoin and other digital currencies to diversify its economy. The move represents a significant shift in the country’s economic strategy as it looks to reduce its reliance on traditional industries like tourism and hydropower.

 

While Bhutan’s investment in Bitcoin is still relatively small compared to other nations, it indicates that digital assets are gaining broader acceptance as an investment option. This is particularly significant in a country like Bhutan, which has traditionally been very conservative regarding financial investments.

 

As the global economy evolves, we’ll likely see more countries exploring the potential of Bitcoin and other digital assets. While there are risks involved in investing in this new asset class, many experts believe cryptocurrencies could play a crucial role in driving economic growth and innovation in the years to come.

 

 

 


 

 

 

Tether’s market valuation is set to reach a new high after recovering 65% stablecoin dominance.

Tether, the world’s most popular stablecoin, is seeing its market valuation reach new heights after recovering 65% of its stablecoin dominance. The digital currency pegged to the US dollar, has rapidly gained popularity among cryptocurrency traders and investors. It provides a convenient way to move funds between different exchanges without the need for traditional banking services.

 

Despite facing criticism and regulatory scrutiny in recent years, Tether has managed to maintain its dominance in the stablecoin market, thanks in part to its close ties to major cryptocurrency exchanges. Digital currency is widely used as a trading pair for other cryptocurrencies, making it an essential part of the crypto ecosystem.

 

With the continued growth of the cryptocurrency industry, Tether and other stablecoins will likely play a crucial role in facilitating the movement of funds between different platforms and markets. In addition, as more investors and traders look for alternatives to traditional banking services, stablecoins like Tether will become even more critical in the coming years.

 

 

BlackStar Enterprise Group is seeking SEC approval to launch an on-chain OTC stock trading platform.

BlackStar Enterprise Group, a US-based firm, plans to launch an on-chain over-the-counter (OTC) stock trading platform, subject to regulatory approval from the US Securities and Exchange Commission (SEC). The forum will allow investors to trade stocks via blockchain technology to increase transparency and liquidity in OTC markets. BlackStar collaborates with blockchain infrastructure provider Splinterlands to create the platform, enabling peer-to-peer trading of tokenized stocks on a decentralized exchange.

 

According to BlackStar CEO Jonathan Brown, the platform will eliminate the need for intermediaries and reduce investor costs. However, the firm must first obtain regulatory approval from the SEC, which has been cautious about allowing blockchain-based securities trading platforms due to concerns over investor protection and market manipulation. If approved, BlackStar’s platform would represent a significant milestone in adopting blockchain technology in traditional financial markets.

 

 

BNB Chain publishes a list of 191 high-risk, untrustworthy DApps and counterfeit coins.

BNB Chain, the blockchain network of Binance, has recently released a list of 191 suspicious and high-risk decentralized applications (DApps) and fake coins. The publication aims to warn investors about fraudulent projects and reduce the likelihood of losses due to scams. The list includes DApps and tokens that exhibit signs of fraudulent activity, such as plagiarism, identity theft, and financial deception. Binance, which operates BNB Chain, has been under scrutiny from regulators over the past year.

 

As a result, the exchange has taken steps to improve its compliance efforts and weed out bad actors on its platform. By providing this list of high-risk DApps and counterfeit coins, Binance aims to increase transparency and protect investors from potential losses. This move demonstrates the exchange’s commitment to creating a safer environment for crypto users.

 


The SEC has charged Bittrex, a cryptocurrency exchange, with breaking federal regulations.

The US Securities and Exchange Commission (SEC) has filed charges against Bittrex, a major cryptocurrency exchange, for violating federal regulations. The charges stem from the exchange’s alleged failure to register as a national securities exchange with the SEC. The SEC has also accused Bittrex of operating without sufficient anti-money laundering safeguards and allowing unregistered securities to be traded on its platform.

 

As a result, Bittrex is now facing penalties and potential legal action from the SEC, seeking to enforce compliance with securities laws in the cryptocurrency industry. The charges against Bittrex highlight the increasing regulatory scrutiny that cryptocurrency exchanges face as the industry grows and matures. It also underscores the need for businesses to fully comply with all relevant regulations, including those related to securities trading and anti-money laundering.

 

 

More than a week after stopping operations, the CEO of peer-to-peer crypto marketplace Paxful announced the unfreezing of 88% of previously frozen user accounts.

Peer-to-peer crypto marketplace Paxful has announced unfreezing 88% of previously frozen user accounts more than a week after stopping operations. According to the CEO, the freeze was necessary to combat a surge in fraudulent activity on the platform. Paxful also temporarily suspended buying and selling of cryptocurrency during the same period. The unfreezing of most accounts signals the company’s renewed commitment to ensuring a secure and reliable user marketplace.

 

The remaining 12% of funds are still being reviewed, and the company has stated that it will continue taking necessary measures to combat fraudulent activity on its platform. With over 5 million registered users worldwide, Paxful’s actions will significantly impact the crypto community’s trust in peer-to-peer marketplaces.

 

 

In 2022, Australians lost $148 million in Bitcoin and cryptocurrency to scammers.

According to a report, Australians lost a staggering $148 million in Bitcoin and other cryptocurrencies to scammers in 2022. Scammers have increasingly targeted digital currency investors in recent years, taking advantage of the sector’s perceived anonymity and lack of regulation. The losses represent a sharp increase from the previous year when Australians lost $21 million to crypto scammers. Experts warn that the problem will only worsen as more people turn to digital currencies and scammers become more sophisticated.

 

They advise investors to be highly cautious when dealing with unknown parties and to never send money or cryptocurrency to anyone they do not know and trust. The Australian government has also introduced a range of measures aimed at cracking down on cryptocurrency scams, including increased regulation of the sector and more substantial penalties for those engaging in fraudulent activity.

 

 

Polygon Labs, an Ethereum layer-2 scaling solution provider, has encouraged EU authorities to provide clear guidelines on intelligent contract regulation.

Polygon Labs, an Ethereum layer-2 scaling solution provider, has called on EU authorities to provide clear guidelines on intelligent contract regulation. The move comes as the market shifts toward decentralized applications (DApps) and non-fungible tokens (NFTs), which rely heavily on smart contracts. Polygon Labs argues that with clear guidance, the industry can avoid legal uncertainty, which could discourage investment and innovation.

 

Polygon Labs, built on the Ethereum blockchain, is one of several layer-2 scaling solutions that aim to improve the efficiency and speed of Ethereum transactions. The platform allows faster and cheaper transactions than the Ethereum main net and has seen increased adoption recently.
As blockchain technology evolves, the need for regulatory clarity becomes more apparent. Polygon Labs’ call for clear guidelines on intelligent contract regulation may serve as a step towards greater legal certainty and industry growth.

 

 


A plan to implement the third edition of the loan protocol. Aave recently passed a “temperate check” by an overwhelming majority.

Aave, a decentralized finance (DeFi) platform, has recently announced the successful implementation of the third edition of its loan protocol. This latest protocol version aims to enhance the user experience by providing more features and flexibility. Aave’s community of users recently passed a temperate check with an overwhelming majority, indicating high support for the new protocol.

 

The loan protocol is a critical aspect of Aave’s platform, as it enables users to borrow and lend cryptocurrencies in a trustless, decentralized manner. In addition, the new protocol offers improved functionality, such as supporting non-fungible tokens (NFTs) and more collateral options. Overall, implementing the third edition of Aave’s loan protocol is a positive step toward the continued growth and innovation of DeFi.

 

 

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