Cryptocurrencies

A growing interest in cryptocurrencies and blockchains is steadily rising as individuals shift from the traditional financial system to the digital currency world. Blockchains, in particular, present impressive solutions focused on recording, maintaining, and securing data on a public ledger.  Despite introducing a practical data management feature, blockchain technology is still under heavy examination across the financial industry and beyond. Thus, it makes various regulators hesitant with the blockchain's applications and capabilities as they are delegated to assure the banking…

The recent rise in fraud, money laundering, and tax evasion cases has led financial institutions to focus on how they can apply underlying controls on their counterparts. Regulators worldwide have developed an interest in the frenzy and are continuously developing regulatory moves targeting market actors.  The aim is to ensure financial institutions align with the current security practices and measures like Know Your Customer (KYC). Several exchanges have employed their compliance to meet measures that have been set while others…

We've all heard a lot about cryptocurrencies and blockchain. People talk so much about the good, and the hype could easily blind us from industry setbacks. Not like the drawbacks come anywhere close to what blockchain and cryptocurrencies provide. More people are adopting digital currency, and institutions are accepting them as payment.  Tesla CEO's acceptance of Bitcoin was part of what threw Bitcoin to an all-time high earlier in 2021. However, for anyone getting started in the crypto world, it's…

In April 2021, Michael Morell, an EX-CIA director, ruled out the idea that Bitcoin and crypto are major ways for criminals to conduct illegal transactions. Instead, the main reason is that Bitcoin and the crypto world are too transparent for criminals to conduct their activities.   More or less, despite the numerous negative notions that people have towards crypto, the features of its tech are surprisingly integral in the fight against fraudulent activities in society. This guide will look into five…

Cryptocurrencies are an attractive asset class but remain a puzzle to many. First, it was the complex technology behind the virtual coins, then the decentralized nature of the currency that scared even governments away from the digital assets. Finally, however, people with wits took on this innovation and saw it as an excellent opportunity for wealth accumulation.  However, one more thing came to light, crypto volatility. Cryptocurrencies are notoriously volatile, but this was not the end of the road for…

The evolution of cryptocurrencies has reached a tipping point in recent months. Bitcoin's market valuation has surpassed the $1 trillion mark, contributing to the broader crypto market becoming a $2 trillion asset class. According to a report by Citi analysts, crypto exchange trading volumes soared to $500 billion in the first three weeks of this year. In addition, the analysts noted that even though crypto ownership remains primarily retail, interest from institutional players is quickly increasing. Indeed, the crypto industry…

Grayscale has announced that it is possibly venturing into 13 cryptocurrencies. Some of the cryptocurrencies are Curve, Polygon, Ren, Solana, Ox, among others. In February, Grayscale announced that it was looking into 23 offerings. The list featured DeFi tokens like Polkadot, Aave, and MakerDAO. Grayscale Venturing More into DeFi Worldwide, Grayscale has emerged as the top digital asset manager that has over $34 billion in assets as of last week. In addition, the company administers trust funds and offers shares…

After a decade of existence, bitcoin is now more than ever working itself out of the financial fringes and gradually entering the mainstream financial world. More individuals and institutions continue to view crypto as an alternative to standard currency, making proponents believe that digital cash is the wave of the future. The total value of all cryptocurrencies currently stands at over $2 trillion. This sheer scale and critical mass that the digital asset class has achieved is far outpacing regulatory…

After discovering that about two-thirds of the local transactions in Denmark are crypto-related, the country is cracking down on crypto. Revamping the Old Law According to the Danish tax ministry, the country's present tax system, which is nearly a century old, isn't built to deal with the issues brought by crypto assets. It noted a greater danger of fraud as well as a high rate of filing errors. Denmark will first define the specific issues that cryptocurrencies represent to tax…