Government

Bitcoin (BTC) recently plunged to a one-month low of $64,000, causing concern among bullish investors who now fear impending selling pressure and a potential retest of lower support levels.  Adding to these concerns, it has come to light that a wallet belonging to the German police has moved $425 million worth of BTC to cryptocurrency exchanges, according to on-chain data firms. This development has sparked speculation about the agency’s intentions and potential market impact. Selling Pressure Concerns On Wednesday, crypto…

Venezuelan Bitcoin miners halt operations as government disconnects power, citing strain on national electrical infrastructure. Miners consider gas-flaring energy as an alternative to bypass national grid and revive Bitcoin mining operations. In Venezuela, once a burgeoning hub for Bitcoin mining, the industry faces severe setbacks due to lack of energy resources and governmental support. The once-thriving mining farms have fallen silent, with the government disconnecting them from the national electric system, citing the industry’s strain on the power supply which…

Bitcoin could reach $100,000 by the end of the year, according to Mike Novogratz. Key factors include regulatory clarity and potential interest rate cuts by the Federal Reserve. According to Mike Novogratz, founder and CEO of Galaxy Digital, Bitcoin [BTC] is poised to break out of its current trading range and could potentially hit $100,000 or higher by the end of 2024. In a recent Bloomberg interview, Novogratz outlined the factors that could drive this significant price increase. This sentiment…

The post Hong Kong Government Reaffirms Promoting Financial Innovation appeared first on Coinpedia Fintech News The Hong Kong government maintains its stance of facilitating Financial Innovation as it marked key areas like fintech, Web3-related Defi, virtual assets, and green finance among others. Furthermore, it also prioritizes stability and risk management. Its focus on green financing reflects its dedication to sustainability and addressing climate change issues. Hong Kong’s robust approach reflects its aim to remain a global financial hub by embracing…

The US House has passed a bill to prohibit the creation of a government Central Bank Digital Currency (CBDC), favoring the adoption of stablecoins on public networks. Ripple Labs Inc. has filed a trademark for “RLUSD”, suggesting the launch of a new stablecoin which may align with recent legislative developments. The US House recently voted on the CBDC Anti-Surveillance State Act, introduced by Congressman Tom Emmer. This bill, identified under Union Calendar No. 409, seeks to amend the Federal Reserve…

The post US Government Is Going After Tether: Ripple CEO  appeared first on Coinpedia Fintech News In a recent conversation with Chris Vasquez, the ‘World Class’ host, issued a major warning that the US govt is going after ‘Tether’, the largest Stablecoin issuer. While he believes Tether is an important part of the ecosystem, he finds it hard to predict its impact on the broader ecosystem. He also disclosed that he was doubtful of the idea that crypto could replace…

The Nigerian government has denied the allegations made by Binance’s CEO, Richard Teng, claiming that its officials demanded a $150 million bribe to settle the criminal charges against the crypto exchange. In an official statement released on Wednesday, the Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, dismissed the claims as baseless. A “Diversionary Tactic” Ibrahim stated that the allegations were part of a coordinated effort by Binance to discredit the Nigerian government and divert attention…

Canada has imposed a fine against Binance – the world’s largest crypto exchange – for running afoul of the nation’s anti-money laundering rules last year. Per a public notice published on Thursday, the federal government said Binance didn’t comply with rules and registrations related to operating as a foreign money services business (FMSB). Binance Fined $4.4 Million By Canada The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) wrote: “Binance Holdings Limited was imposed an administrative monetary penalty of…

IOTA will be among the official strategic partners of the AIM Congress, the Middle East’s largest investment conference, which will be held in Abu Dhabi next week. The tokenisation of real-world assets will take centre stage, with Dominik Schiener expected to present the IOTA Foundation’s Tokenization Framework as an industry leader. The Middle East has become one of the world’s leading investment destinations, with the region diversifying from its traditional oil business into venture capital, emerging tech such as AI…