Payments Giant Mastercard To Allow All Merchants and Banks To Integrate Crypto Into Their Services

Mastercard is massively expanding crypto access for businesses as well as consumers.

Singaporean Payments Unicorn Nium Launches Crypto-as-a-Service Platform

Nium says its news service will target banks, businesses and neo-financial institutions.

In Argentina, several businesses accept payments in BTC, DOGE, other cryptos

Imagine going on vacation and being able to pay both your Uber driver and Airbnb host with crypto.

Crypto in the crosshairs: US regulators eye the cryptocurrency sector

US regulators are looking at crypto-related areas, touching on financial regulation, economic innovation and national security. In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.Lately, news headlines are focused on regulators’ concerns over the lack of investor protections in the cryptocurrency market, which has ballooned to more than $2 trillion, and the possible risks to financial stability.National security agencies across the administration of United States President Joe Biden are grappling with high-profile cases of cryptocurrencies playing a role in ransomware attacks, intellectual property espionage, sanctions violations, bribery of government officials and tax evasion. According to a recent report issued by the Financial Crimes Enforcement Network, ransomware-related suspicious activity reports filed during the first half of 2021, which are up 30% from the entirety of 2020, indicate that ransomware is an increasing threat to the US financial sector, businesses and the public The Biden administration is weighing an executive order for federal agencies to study and make recommendations on relevant areas of the crypto industry related to national security, economic innovation and financial regulation.

'Bitcoin is no longer the proxy for the health of the market'

Mainstream businesses are increasingly turning towards cryptocurrencies, an indication of the growing legitimacy and importance of this novel asset class.

Aussie cyber spies to control critical infrastructure during ransomware attacks

The new bill, if passed, will allow cyber warfare operatives to take over control of critical infrastructure under attack.

Russia aims to replace US dollar reserves with digital assets in long term

Last week, the Russian president said it was “a bit early” to use cryptocurrencies to settle oil trades. As Russia continues pushing de-dollarization, the Ministry of Foreign Affairs (MFA Russia) is reportedly considering replacing the United States dollar with not only traditional fiat currencies but also digital currencies.Aleksandr Pankin, deputy minister of Foreign Affairs of Russia, reiterated the country’s plans to reduce the US dollar share in Russia’s international reserves and its usage in settlement with foreign partners in a Tuesday interview with local news agency Interfax.The official said that MFA Russia isn’t excluding the possibility of replacing the US dollar with “some digital assets” alongside other currencies:“It’s possible to replace the US dollar with other currencies, both national and regional, as well as some digital assets in the long term.”Pankin added that such replacement would require significant efforts from the government, including rebuilding established cooperation models between jurisdictions and businesses, as well as creating new mechanisms for new settlement systems.The official noted Russia’s de-dollarization campaign comes in line with the country’s efforts to avoid challenges posed by sanctions from the US government.“Payments in US dollars go through American banks and a clearing system, which allows Washington to block any transactions they deem suspicious,” Pankin said.

Local Businesses in New York Urge Governor to Impose Statewide Bitcoin Mining Moratorium

The governor of New York state, Kathy Hochul, has been urged by a group of local companies to deny business permits to bitcoin miners.

New York businesses ask governor to deny permits for crypto mining

Crypto mining's environmental impact continues to raise concerns with regulators and businesses alike.

Crypto businesses need to adhere to the US OFAC compliance guidelines

A Bitcoin Futures ETF is ready to start trading on the market, but that doesn't mean American regulators are letting crypto companies and innovators off the hook.

Square to Consider Building a Bitcoin Mining System

Payments service provider Square is looking to develop a bitcoin mining system, the company’s CEO Jack Dorsey tweeted on Friday.“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” Dorsey wrote.In his threaded tweets, Dorsey wrote that mining needs to be more distributed and energy-efficient, and that silicon design is too concentrated into just a few companies, leading to reduced supply.He also said that mining should be more accessible to everyone, and he was soliciting thoughts on whether Square should pursue the project or not, and why or why not.Dorsey wrote that if the payments service provider begins the initiative, it would follow the open-source model it is using to build a hardware wallet.Square hardware lead Jesse Dorogusker will “start the deep technical investigation required to take on this project,” Dorsey wrote.Dorogusker is also leading the wallet project, tweeting in July that he was assembling a team to focus on that initiative.Dorsey has been an enthusiastic supporter of bitcoin, believing that the cryptocurrency has great potential.

Esports NFT Platform 2CrazyNFT Announces Partnership With ALMGHTY

[PRESS RELEASE – Please Read Disclaimer] A partnership facilitated by EMERGE Esports, a Singapore based talent management company that specialises in connecting brands and businesses with influential talent in eSports Singapore, 13 October 2021 – Today, Esports Platform, 2CrazyNFT, partners with ALMGHTY, a gaming and lifestyle label under Gushcloud International, and EMERGE Esports, Singapore’s professional […]

Visa to Help Creators, Small Businesses Learn About NFTs and Crypto

Noted NFT artist Micah Johnson will help the financial services giant educate more people about the potential of digital collectibles.

Estonian regulator wants to revoke all crypto exchange licenses

About 400 crypto businesses in Estonia still hold licenses after the state revoked nearly 2,000 licenses last year. Financial regulators in the Baltic country of Estonia want to revoke all crypto exchange licenses in an effort to start the entire regulatory regime anew.Matis Mäeker, head of the Estonian Financial Intelligence Unit (FIU), has urged the state to “turn the regulation to zero and start licensing all over again,” local state-run news agency Eesti Ekspress reported on Wednesday.Mäeker claimed that the public is unaware of the risks of the cryptocurrency industry. Formerly the head of the Anti-Money Laundering department at the Financial Supervision and Resolution Authority, the official pointed out a number of related concerns, including illegal crypto activity, such as money laundering and terrorism financing, as well as the industry’s vulnerability to hacks, stating:“These risks are very, very high.

Scammers Pay Six Figures for Misspelled Crypto Website Domains Hoping To Dupe Victims: Report

Fraudsters are reportedly forking out hundreds of thousands of dollars to purchase mistyped website addresses related to cryptocurrency businesses in the hope of duping victims.

Popcorn Network Chooses Patch to Execute Carbon-Neutral DeFi

[PRESS RELEASE – Berlin, Germany, 5th October 2021] Popcorn Network has integrated with Patch, an API-first platform for carbon removal that enables businesses to neutralize their carbon emissions through high-quality, high-impact carbon removal projects.

Likes out: Facebook blackout sparks ideas for Web 3.0.

Crypto advocates remind socially accountable and helpful media platforms are possible with decentralization. Facebook’s conglomerate of social applications including Instagram, WhatsApp, Messenger, and its virtual reality headset Oculus, all suffered a major power outage on Monday, switching the platforms offline for a total of six hours to the effect of billions of users and businesses across the world.The incident was first reported at approximately 3:16 pm UTC on Oct.

B2BinPay: A next-level payment solution

According to statistics, 36% of US businesses have added Bitcoin to the list of payment options.

Coping with the China FUD - Bitcoin and the Huobi story

China's recent crypto-ban may not have drastically crashed Bitcoin, but it is certainly affecting certain businesses in the country.

CFTC charges 12 New York crypto options businesses with failing to register

The listed crypto options providers named by the CFTC include relatively unknown names such as Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade.

Tehran Stock Exchange CEO resigns following discovery of Bitcoin miners in basement

Iranian authorities have conducted many raids on crypto miners in abandoned factories, homes, and small businesses — nothing quite as high profile as the country's largest stock exchange. Ali Sahraee, the chief executive officer of the Tehran Stock Exchange since 2018, has reportedly resigned after the discovery of cryptocurrency mining rigs in the building.According to a report from the country’s state-run media, the Islamic Republic News Agency, Tehran Stock Exchange, or TSE, market vice president Mahmoud Goudarzi will be leading the company following the departure of Sahraee.

Crypto tax 'a top enforcement priority,' reminds IRS commissioner

IRS Commissioner says crypto gains are taxable in the cannabis industry as the IRS treats cryptocurrencies as property. The Internal Revenue Service (IRS) continues to propose new tax reforms to regulate the crypto investments in the United States, with the latest notice sharing tax obligations for the marijuana industry.The notice, signed by IRS Commissioner De Lon Harris, reflects the priorities of the United States federal agency to ensure cryptocurrency tax compliance among local businesses that grow, distribute and sell cannabis.Commissioner Harris said that the use of cryptocurrencies in the cannabis industry is one of the top enforcement priorities of the IRS.

Coinbase users can choose to deposit paychecks directly to accounts

Customers will have the option to deposit "as much or as little" of their paychecks as they want in the feature rolling out in the next few weeks. Coinbase will soon allow United States businesses to deposit employees’ paychecks directly into accounts at the cryptocurrency exchange.In a Sept.

Small business advocacy group recommends US congress 'clarify the status of digital assets'

“We encourage market participants looking to determine whether a digital asset is a security to seek the advice of securities counsel and engage with FinHub staff,” said the SEC. The US Securities and Exchange Commission, or SEC, has delivered a report to Congress containing recommendations from small businesses seeking regulatory clarification on the role of digital assets. In a Sept.

China fear is now infrastructure bill fear — 5 things to watch in Bitcoin this week

From bans to bills, the FUD is strong for Bitcoin and crypto this week, but traders are overwhelmingly optimistic about BTC price action. Bitcoin (BTC) is at the start of another week with China's latest "ban" behind it — but its next "FUD" story is already brewing.The United States' infrastructure bill is back on the table, with this week likely to see a definitive vote on what could shake up cryptocurrency businesses.At the same time, fundamentals and on-chain metrics alike continue to be more bullish than ever, and traders are betting on — at worst — a moderate price dip to a floor no lower than $36,000.What are the odds? Cointelegraph takes a look at five things that could move the markets in the coming week.D-Day for infrastructure billThe macro narrative switches from China to the United States this week as lawmakers decide the fate of the so-called “infrastructure bill.”H.R.3684, fresh from Senate approval, should see a final vote on Monday — despite rumors that it may yet be delayed.The bill includes a contentious description of a “broker,” one which could have far-reaching implications for US crypto businesses.

Here's how crypto-businesses in China are dealing with the ban

The cryptocurrency market has been moving into a downward spiral as the price of the largest cryptocurrency plunged, following China's announcement about the state of cryptocurrencies in the country.

'Hostile' Hong Kong is losing its sheen as crypto-businesses choose to leave

Hong Kong has many homegrown crypto-platforms like FTX, Bit-Z, Amber, and Bitspark, among several other startups.

DeFi Hack: Vee Finance Losses $35 Million To Hackers Following Mainnet Launch

One of the major threats to businesses online, not only the crypto industry, is cybercriminals’ attacks.

Small Business Owners Study Says Los Angeles Ranks the Most Crypto-Friendly City in the US

A recent study conducted by the online invoicing company that works with small businesses Skynova explains that the city of Los Angeles (LA) is the “most crypto-friendly city in the United States.” Skynova surveyed close to 600 small business owners and top-level executives from the US in order to get their perception of the cryptocurrency […]

The US Treasury Department Imposes Sanction on Suex Crypto Exchange, Accused of Facilitating Ransomware Transactions

The US Treasury Department said in a statement that Suex cryptocurrency exchange has been aiding ransomware actors to attack businesses and government entities.

10% of early-stage startups working on blockchain: GSER 2021

Blockchain-based startups continue to account for a significant proportion of newly established business entities across the globe. With venture capital funding seemingly prioritizing emerging technology, the blockchain industry experiences a significant influx of capital from corporate backers.According to the Global Startup Ecosystem Report 2021 published on Wednesday, blockchain-based businesses account for 10% of startups worldwide.The figure is part of a more significant trend that has seen emerging technology become a fast-growing sub-sector in terms of early-stage funding.

Texas following El Salvador? Poll shows 37% of residents want crypto payments

Two pieces of legislation related to cryptocurrencies recently took effect in the state, and many businesses already accept digital payments.

Indians opt for state-run blockchain platform amid bulk SMS regulations

India’s SMS regulation requires businesses to comply with pre-registered messaging templates to counter spam and fraud. India’s state-owned telecom Bharat Sanchar Nigam Limited (BSNL) has registered 7,477 businesses on its blockchain-based communication platform after authorities imposed new regulations to protect consumers from spam and fraud.The Telecom Regulatory Authority of India (TRAI) established messaging regulations that require scrubbing consumer communication messages to ensure that the receiver of the message has opted in for such interactions.

Unido – Building the Future of Crypto Custody and Asset Management for Enterprises

As the floodgates are opening for large businesses and corporations to enter the crypto market, you see increasing demand for an established digital asset management platform.

Decentralized Oracle Plugin Offers Solution for XinFin’s Smart Contract

Blockchain technology indicates not only bitcoin but in reality, it has the capacity to change businesses with smart contract-related blockchain frameworks like XinFin.

Hong Kong landlords lease to crypto exchanges following regulatory clarity

Crypto businesses in Hong Kong need to have a local license and are restricted to offer services only to professional investors.

3 reasons why Elrond (EGLD) price is hitting new daily highs

An expanding ecosystem and the full launch of Elrond’s DeFi capabilities back EGLD’s rally above $300. DeFi-focused protocols are seeing a sustained upward move and the the momentum appaers to be picking up pace now that the NFT sector has cooled off over the past two weeks.  Since the beginning of August, Elrond (EGLD), a scalable and secure blockchain platform designed for distributed apps and enterprise-level businesses has been in a strong rally.

Bank of Russia Recommends Banks to Block Cards, Wallets Used to Transact With Crypto Exchangers

The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses.

How the crypto workforce changed in the pandemic

The pandemic has put hundreds of thousands of businesses out of action, saw others fold and decimated great swathes of the economy.But, crypto thrived in this distributed environment.

Bitcoin transactions ‘akin to bartering,’ Bank of Mexico governor says

Governor Díaz de León said Bitcoin resembles “a dimension of precious metals” when compared to the central bank’s fiat money. The governor of the Bank of Mexico, Alejandro Díaz de León, dismissed Bitcoin’s (BTC) position as a reliable legal tender, citing price volatility as a major roadblock towards full-fledged adoption. Governor Díaz de León said in a Reuters interview that Bitcoin’s position in today’s financial system resembles “a dimension of precious metals” when compared to the central bank’s fiat money.In stark contrast to El Salvador’s mainstream Bitcoin adoption that requires businesses to accept payments in Bitcoin, Mexico’s central bank chief questioned Bitcoin’s position as a viable legal tender:“Whoever receives bitcoin in exchange for a good or service, we believe that (transaction) is more akin to bartering because that person is exchanging a good for a good, but not really money for a good.”Díaz de León also highlighted the inherent risk of daily price volatility when dealing with cryptocurrencies.

Seychelles Examines the Pros and Cons of Licensing Crypto Trading Platforms

Seychelles’ Financial Services Authority (FSA) together with the country’s finance ministry, is reportedly working on a policy to either prohibit or license crypto trading platforms as registered international businesses.

Mastercard Attains CipherTrace to Boost Security and Fraud Detection in the Crypto Ecosystem

Payment giant Mastercard announced the acquisition of CipherTrace to offer businesses powerful intelligence about the crypto economy as digital assets continue becoming more intertwined with daily activities.

Mastercard Acquires Crypto Analytics Firm CipherTrace

CipherTrace, a cryptocurrency tracking firm, has been acquired by Mastercard with a view to helping businesses "identify and understand their risks."

Cloud Platform Cudos Provides Elrond Decentralized Hosting for DApps

[PRESS RELEASE – London, England, 8th September 2021] Elrond started an exciting collaboration with Cudos, a decentralized cloud computing network used by 300,000 businesses and individuals in over 145 countries.

Australian crypto businesses tell Senate inquiry about being de-banked up to 91 times

Speaking on a panel as part of the senate inquiry into “Australia as a Technology and Financial Centre” three crypto firms outlined their de-banking experience in Australia.

El Salvador says merchants must process BTC transactions — or they may face action

A Salvadoran government official has said that while businesses must accept BTC transactions, they can choose whether to receive BTC or USD upon settling transactions. In an interview with local media, Javier Argueta, the legal counsel to the Presidential House of El Salvador, clarified the obligations of businesses the day before the country’s controversial Bitcoin Law recognizing BTC as legal tender took effect.The legal counsel to the President of El Salvador has stated that businesses are mandated to accept Bitcoin from customers — but they are able to choose whether or not they will receive BTC or US dollars once the transaction is settled.According to a rough translation, Agueta emphasized that it is mandatory for businesses “to have the electronic wallet” to receive Bitcoin, however “In the transaction [...] you have the will to receive Bitcoin or dollars, that is why it is voluntary.”“If I buy you 1,000 shirts that cost $200 and I'm going to pay you in Bitcoin, you have the wallet, but in the transaction, when you do it, you have the will to receive Bitcoin or dollars, that is why it is voluntary.”The official added that businesses which refuse to accept BTC will be operating in violation of local regulations.

McDonald’s Begins Accepting Bitcoin as Payment Method in El Salvador, Starbucks & Pizza Hut Follow

McDonald’s move signals that multiple businesses are going to start accepting Bitcoin payments in El Salvador.

How the Bitcoin model can solve the social media dilemma

Decentralized social media platform built on the Bitcoin model puts privacy first in its new messenger that can send crypto. Social media platforms are constantly under fire for their lack of total end-to-end encryption, existing privacy policies and censorship – but a blockchain-based solution might spell the end to an era of centralized social media dominance.In many ways, social media is a vital component of daily life for both businesses and the average consumer.

Here's what the WEF is proposing instead of an 'ineffective' ban on cryptos

"A clear, constructive and adaptive regulatory environment for cryptocurrencies would lay a foundation for sustainable innovation, competition and transparency, and allow customers and businesses to The post Here's what the WEF is proposing instead of an 'ineffective' ban on cryptos appeared first on AMBCrypto.

Mayoral candidate pledges to make NYC 'most cryptocurrency-friendly city in the nation'

Some mayors of cities large and small in the US have been pushing for the adoption of cryptocurrencies or otherwise taking a position in favor of digital assets. Curtis Sliwa, a beret-wearing Republican running to be the mayor of New York City, said one of the goals of his campaign is to focus on crypto.In a Wednesday tweet, Sliwa said he would be focusing on creating greater financial inclusivity in New York City by opening more crypto ATMs and incentivizing businesses to accept cryptocurrency.

China’s new blockchain infrastructure to digitize securities and futures

Chinese regulators held a meeting in Beijing to promote blockchain development, as first mentioned in China's 14th five-year plan. Chinese regulators including the Securities Association of China (SAC) and the China Securities Regulatory Commission (CSRC) held a meeting in Beijing to promote blockchain in the securities industry and discuss regulations.In the symposium organized by China Securities Industry Alliance Chain and Off-site Alliance Chain, the deputy director-general of the Science and Technology Regulatory Bureau of CSRC, Jiang Dongxing, spoke about the consensus of Chinese businesses to digitally transform the securities and futures industry.

Will this 'important' upgrade 'entice' more businesses to adopt Dogecoin

Dogecoin, one of crypto’s most hyped meme-coins, was trading at $0.27, with a market capitalization of around $36 billion at the time of writing.

Banks Protest Crypto Firms' Claim to Federal Reserve Payments Systems

Crypto businesses are seeking access to the US Federal Reserve’s (FED) payments systems that legacy finance institutions use to move money around swiftly.

Standard Chartered launches blockchain trade platorm with Chinese fintech

The joint venture operating the new blockchain-powered platform will be headquartered in Singapore and led by SC Ventures' Amelia Ng as CEO. United Kingdom-based multinational banking firm Standard Chartered (StanChart) has launched a blockchain-powered trade finance platform through a joint venture with Chinese supply chain finance technology provider Linklogis.Dubbed Olea, the platform will aim to meet the needs of institutional investors that are “seeking opportunities in an alternative asset class with businesses requiring supply chain financing," according to a report from The Korea Herald published Aug.

South Korea: Crypto exchanges Upbit, Bithumb, Coinone attract millions of users

While several crypto-related businesses in South Korea were having a tough time due to controversial regulatory efforts in the country, Upbit has been able to retain its title as the country's largesThe post South Korea: Crypto exchanges Upbit, Bithumb, Coinone attract millions of users appeared first on AMBCrypto.

Introducing decentralized business #DEBU by GMCoin, lets tokenize businesses

Tokenization may sound complicated, but its beauty is in its simplicity. Tokenization substitutes a string of random numbers—known as a token—for private data like payment account numbers.

VeChain launches blockchain platform to encourage carbon data reporting

VeChain has announced a new blockchain initiative designed to help businesses openly track and report their carbon emissions data.

Deloitte: 80% of Bank Executives Sees Digital Assets as a Vital Part of their Businesses in 24 Months

Blockchain has played a major role in shifting the paradigm in the financial services industry (Read More)

All Binance users are now subject to immediate KYC verification

The crypto exchange will limit services for existing users unless they adhere to the new KYC and AML requirements Binance has been at the regulatory cross-hair of jurisdictions across the globe, amid claims of it operating unlicensed businesses.

Australian regulator issues warning about unlicensed crypto businesses

Based on the reports from Aussie investors, ASIC said that citizens have suffered significant losses due to “excessive leverage, platform outages, or unfair liquidations.” As crypto breaches mainstream finance, authorities have started issuing warnings to citizens against unregistered crypto businesses. Joining this list today is the Australian Securities and Investments Commission (ASIC) as it warned Aussie investors to be wary of unlicensed entities that offer financial products.In a statement released by the ASIC, the regulator advised Australian citizens to make crypto-asset related investments via financial institutions that hold an Australian Financial Services license or an Anti-Money Laundering mechanism.

People’s Bank of China Targets Crypto Companies in Shenzhen Crackdown

The Shenzhen office of the People’s Bank of China (PBOC) has reportedly set out to correct the business activities of about a dozen companies allegedly engaged in cryptocurrency transactions.

Spanish Authorities Warn Cryptocurrency Exchanges For Unregistered Services

Cryptocurrency businesses have continued to receive pressure globally from different regulatory bodies.

Spanish officials issue warning on Huobi and Bybit crypto exchanges

The National Securities Market Commission in Spain issued warnings on 11 entities for not being registered for investment services. Regulators around the world continue to keep the pressure fresh on crypto businesses.

Walmart seeks crypto product lead to drive digital currency strategy

Walmart’s future digital currency and crypto product lead would be based in the company’s home office in Bentonville, Arkansas. North American retail giant Walmart is looking for an experienced crypto expert who can develop and drive an ambitious digital currency strategy and product roadmap. In the listing for the role, Walmart indicates it is looking for someone who has a track record in leading and scaling businesses, with at least 10 years of experience in product/program management and technology-based product commercialization.

Wyoming’s crypto-friendly bill could be a sandbox in action, Sen. Lummis says

The new bill would allow crypto banks to get faster approvals for conducting business in Wyoming. As the United States continues to weigh out the best ways to include crypto businesses through an infrastructure bill, the state of Wyoming has taken proactive measures to attract Bitcoin (BTC) miners and other crypto businesses to its local jurisdiction. Wyoming’s crypto-friendly notion comes into light as the state has passed more than 24 bills related to blockchain technology.

South Korea’s crypto regulation is now expanding to foreign businesses

Any overseas activity outside Korea that has domestic effects or consequences shall be subject to the amended crypto regulation. Due to their anonymity or pseudonymity, digital assets are perceived as entailing the risks of money laundering and financing terrorism.

Stronger crypto regulations in US won't necessarily help prevent fraud, says Okcoin CCO

Megan Monroe said an "incubator" approach might be one possible solution to the current “patchwork of financial regulations” in the United States. Though Okcoin chief compliance officer Megan Monroe said that there are still certain grey areas over cryptocurrencies in the United States, further regulation may not be the best solution.In a statement to Cointelegraph, Monroe said current US regulations are sufficient to police cryptocurrency exchanges, token issuers and custody wallet providers, but “jurisdictional boundaries of these federal financial regulators are neither clear nor collaborative.” Rather, she advocated for a framework with greater clarity to determine which crypto firms should be subject to regulation and let investors know which protections are available.“A clear regulatory framework with established jurisdictional boundaries, flexible compliance standards and open communication channels with registrants (as well as with state regulators) would be a good way to initiate an evolving framework for market participants to grow their businesses,” said the Okcoin chief compliance officer.

ReSource Finance Raises $1.7M to Offer Undercollateralized Credit to Web 3 Businesses

[PRESS RELEASE – San Francisco, United States, 12th August 2021] Decentralized credit protocol, ReSource Finance completed a $1.7 million funding round led by Future Perfect Ventures, NGC Ventures, and ExNetwork to enhance decentralized credit access to Web 3 businesses.

Escrow Brings New Era of Decentralized Crowdfunding with High Yield Rewards

Crowdfunding has become a revolutionary way for small businesses and new startups to raise funds in order to scale operations and expand their reach.

55% of the world’s top 100 banks reportedly have crypto and blockchain exposure

Over half of the 100 largest banks by assets under management are reportedly investors in major crypto and blockchain technology-based companies and projects. Global banking giants are reportedly increasing their involvement in the emerging crypto and blockchain firms by way of early- and late-stage funding for projects and businesses in the industry.According to research by Blockdata, a blockchain market intelligence outfit, 55 out of the top 100 banks by assets under management (AUM) have some form of exposure to the novel technology.

Mark Cuban likens shutting off crypto growth to stopping e-commerce in 1995

Bitcoin proponent Mark Cuban is certainly not happy with the tighter rules for crypto businesses introduced in the new infrastructure bill. Leaders in the crypto industry continue to speak up as the bipartisan $1 trillion infrastructure bill, known for implementing tighter rules on crypto businesses and expanding reporting requirements for brokers, passed the United States Senate.

KYC tools can minimize hassle for US crypto market, FTX CEO says

FTX will now use phone numbers to confirm users’ jurisdiction and names in addition to testing new KYC tools. Ongoing regulatory scrutiny has forced many crypto businesses across the globe to close up shop. Amid this crackdown, Sam Bankman-Fried, CEO of prominent crypto exchange FTX, has been vocal about his continued efforts to adapt to the changing regulations around running crypto businesses, announcing FTX’s efforts toward finding systems for streamlining its Know Your Customer (KYC) operations. “As we mature as a company, we’ve been building out our checks, finding and incorporating more signals,” Bankman-Fried stated.

BTC price caps $4K weekly gains: 5 things to watch in Bitcoin this week

A third week of solid bullishness for BTC/USD comes as headwinds mount and gold tumbles to more than four-month lows. Bitcoin (BTC) is delighting bulls as it heads into a new week after closing a weekly candle in which it gained another $4,000 — can it hold?After spending much of the previous seven days hitting but then descending from local highs, sentiment was mixed going into the weekend.In the event, Saturday and Sunday turned out to be just what bulls had been waiting for, with Bitcoin passing multiple resistance lines and going on to top $45,000.With a sense that there is everything to play for, bulls are now confident but mindful of the fact that in Bitcoin, anything can happen.Cointelegraph presents five factors that may influence BTC price action in the coming days.Tuesday D-Day for infrastructure billLike last week, the specter of United States legislators hangs over the cryptocurrency industry on Monday.The infrastructure bill, as it is informally known, continues to attract fierce debate and is expected to be put to a vote on Tuesday.Within the $1-trillion bill is a $30-billion cryptocurrency issue that seeks to overhaul tax obligations for businesses.

'Bitcoin fixes this' — US Infrastructure Bill would add $250B to US debt mountain

The hotly-debated legislation is no surprise to hard money supporters, as Cameron Winklevoss saying that it would "plunder" future generations. The United States tax bill which could hurt Bitcoin (BTC) and crypto holders will “continue the plunder of future generations,” Cameron Winklevoss argues.According to new estimates, the proposed Infrastructure Bill currently under discussion in Washington would pile on an extra quarter of a trillion dollars in debt.Bill may add $256 billion in debtAs the contentious bill makes its way through government, crypto voices continue to warn about a potential tax nightmare which, they argue, can still be easily avoided.As Cointelegraph reported, language in the Bill may place undue demands on hodlers and businesses alike.

Uruguay Senator Sartori Unveils Crypto Adoption and Regulation Bill

Juan Sartori. Source: Twitter/@JuanSartoriUY A powerful young Uruguayan entrepreneur and senator has launched a bid that might ensure that businesses in the country can legally accept crypto as payments. Juan Sartori, 40, is the founder of the Union Group conglomerate and the co-owner and director of the British football club Sunderland AFC.

Uruguay: Senator introduces bill to enable use of crypto for payments

A Uruguayan Senator has introduced a bill seeking to “establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies.” Uruguayan Senator Juan Satori has introduced a draft bill to regulate cryptocurrency and enable businesses to accept crypto payments.

Google’s Policy to Allow Cryptocurrency Ads Kicks in Today

Google has updated its ads policy, and some cryptocurrency businesses are now able to advertise through the platform.

Join The Best Marketing ICO of the Year with Smart Marketing Token

Disclaimer: The text below is a press release that was not written by Cryptonews.com. The creation of the blockchain for Bitcoin became the first digital money to solve the double-spending issue without using a trusted authority or central server. Because the internet and blockchain are evolving at such a rapid speed, the e-Commerce and blockchain businesses demand effective marketing and

11 South Korean Cryptocurrency Exchanges to Shut down Amid FSC Inspection: Report

Several cryptocurrency platforms in South Korea will reportedly halt their operations as they run their businesses without the necessary licensing.

Antier Solutions’ Crypto Exchange Script Solutions Helping Businesses to Reduce Their Time-to-Market by 50%

PRESS RELEASE. Antier Solutions, a blockchain development company recognized for its end-to-end solutions, is offering crypto exchange script to expedite the development and deployment of crypto exchange platforms by 50%.

Large VCs are sidelining smaller crypto investors, PwC crypto lead says

Inflated valuations for crypto businesses have raised the bar for small investors to participate in the ongoing innovation. As cryptocurrency continues to take over mainstream finance, formerly cautious investors across the globe are rethinking their stance of counting crypto as a bad investment.

Greenidge Generation will use BTC mining profits to build solar farm

According to the mining firm, it aims to create high-tech jobs for residents and support local businesses with the solar farm. Bitcoin mining company Greenidge Generation is planning to increase the number of renewable energy sources available for use in New York.In a Thursday announcement, Greenidge said it would be using the profits from its Bitcoin (BTC) miners in the Finger Lakes region of New York state to expedite the closure of a nearby coal ash landfill.

Western nations need better public-private cooperation on crypto, says Mohamed El-Erian

The famous economist has warned that western nations risk losing out to China in the emerging digital economy if they continue to be dismissive of crypto. Mohamed El-Erian, chief economic advisor at Allianz, has called for greater cooperation between western governments and crypto businesses to better leverage the benefits of the ongoing cryptocurrency revolution.In an article published in the Financial Times on Thursday, the famous economist highlighted China’s unified approach to dealing with crypto and blockchain as against the fragmented handling of the novel tech in the United States and Europe.As part of the article, El-Erian called on western governments to adopt a less dismissive stance on crypto and be more open to embracing the innovations coming out of the cryptocurrency space  especially in the financial sector.El-Erian characterized the debates among policymakers in the US and Europe as being narrow-minded especially when put in the context of the greater issues at play concerning cryptocurrencies.According to the Allianz executive, failure of the west to keep up with Beijing’s accelerated development of its digital economy could have significant implications beyond global finance and into the geopolitical sphere.El-Erian suggested a more cooperative approach that balances the policy discomforts of governments and central bankers with the desire by the private sector to pursue digital finance innovations via cryptocurrencies.Related: Law professor calls for crypto mining regulation during US Senate hearingThe Allianz executive enjoined all stakeholders — both public and private — to take the necessary steps needed to create the required synergistic interaction necessary for embracing the ongoing crypto revolution.

Bitcoin hash rate rebounds as major miners are coming back online

Restrictions in China have forced homegrown Bitcoin miners to move out to crypto-friendly nations such as Canada, Kazakhstan and the United States. China’s stringent crypto regulations meant closing shop for many Chinese businesses within the Bitcoin (BTC) mining ecosystem.

Senators add crypto taxes to infrastructure deal to raise $28B in extra revenue

US lawmakers believe they can find $28 billion worth of infrastructure funding by expanding taxation on crypto transactions. Last-minute additions to the bipartisan infrastructure deal in the United States Senate saw lawmakers propose expanded cryptocurrency taxation to raise an additional $28 billion in revenue.The proposal will implement tighter rules on businesses handling crypto, expand reporting requirements for brokers and mandate that digital asset transactions worth more than $10,000 are reported to the Internal Revenue Service.Senator Rob Portman of Ohio, the lead Republican for the infrastructure discussions, noted Congress has expressed concerns regarding crypto reporting and taxation requirements for some time:"Everybody's been talking about the appropriate way to provide more reporting in particular and that leads to better compliance." The crypto measures were hastily added to the deal on July 28, following weeks of back and forth between the Republicans and Democrats.

Bankers Rush To Fix Cross-border Payments as Crypto Competition Hots up

The banking industry looks set to go to war with crypto – and is attempting to beat coins and their proponents at their own game, with the Bank for International Settlements (BIS) following on the heels of the international payments network SWIFT in a fresh assault. Yesterday, Cryptonews.com reported that SWIFT has launched a new service that lets businesses and consumers

China's Ongoing Crypto Crackdown Is All About Perception

China’s crypto crackdown is just one part of its wider move against Big Tech and its ongoing battle to contain internet businesses.

SWIFT Ups Competition with Crypto, Launches 'Fast, Transparent Payments' Service

Global banking payments network SWIFT seems to be aiming to build itself as a stronger competition to cryptocurrencies - it has just launched a new service which they say allows businesses and consumers to send payments quickly, securely, and transparently directly from bank accounts.

Why did Huobi file 'resolution to dissolve' its entity in China

The stringent crackdown on cryptocurrency businesses and mining in China has led the prominent cryptocurrency exchange, Huobi to shut down its subsidiary functioning in the country.

Kazakhstan to reportedly allow banks to process crypto purchases

A new project in Kazakhstan aims to enable local crypto businesses to provide crypto investment services legally. The Kazakhstan government is reportedly planning to officially authorize local banking institutions to open bank accounts for cryptocurrency transactions.Several banks in Kazakhstan will soon be officially approved to service companies and businesses providing exposure to cryptocurrencies like Bitcoin (BTC), local news channel Khabar 24 reported Sunday.Citing executives from the Data Center Industry and Blockchain Association of Kazakhstan, the report notes that it is unclear what financial institutions or banks would participate in the pilot project.

Cryptocurrency Has No Inherent Worth, But Creates Trading Opportunities for Businesses, Says Man Group CEO

Luke Ellis, the CEO of Man Group, admitted that cryptocurrencies have no inherent value, but their volatility makes them good trading instruments.

China and Bitcoin: 'The final straw' would be something like...

China's stance regarding cryptocurrencies has been well documented and with each passing day, regulations around crypto mining and businesses are getting stricter.

Crypto Companies Establish Presence, Hire Talent in Ireland

With a friendly attitude towards financial innovation, the Republic of Ireland has become a desired destination for fintech businesses that need unimpeded access to the common European market.

Investing In Bitcoin Mining Businesses Is Also A Sign Of Institutional Acceptance

Last quarter, the New Jersey Pension Fund invested heavily in two Bitcoin mining giants.

El Salvadorians take to the streets to protest Bitcoin law

Those who marched against Bitcoin this week claimed the cryptocurrency was too volatile and would allow businesses to "launder ill-gotten money." Protesters calling themselves the Popular Resistance and Rebellion Block have come out against El Salvador’s government passing a law making Bitcoin legal tender.A Tuesday tweet from local news outlet El Mundo shows El Salvadorians carrying banners saying “no to Bitcoin” in the streets of San Salvador demanding a repeal of the country's Bitcoin law.

Enjin plans to use NFTs to promote sustainability and equality as member of UN pact

The company previously said it planned to enable carbon-neutral NFTs by 2030, and claimed its JumpNet blockchain is already carbon-negative. The United Nations Global Compact, a non-binding pact aimed at encouraging businesses to adopt sustainable and socially responsible policies, has accepted nonfungible token and blockchain gaming and platform Enjin as a participant.Enjin announced today it would be exploring ways to use nonfungible tokens, or NFTs, to promote sustainability and equality as part of the UN pact.

Mastercard’s latest partnership to help banks distribute crypto cards

The partnership is aimed toward simplifying cryptocurrency-to-fiat conversions within Mastercard's existing payment network. American fintech giant Mastercard has announced plans to revamp its crypto card program, to enable traditional banks and crypto companies to offer cards to its users for transacting with digital assets.According to the official statement:“Mastercard and its partners will test this new capability to enable more banks and crypto companies to offer a card option to people wanting to spend their digital assets anywhere Mastercard is accepted.”This effort involves Mastercard partnering with crypto businesses to involve “cryptocurrency wallets and exchanges, making it simpler for partners to convert cryptocurrency to traditional fiat currency.” To allow exposure to cryptocurrency for its users, the New York-based financial institution has publicly announced fresh partnerships with Circle, Paxos, Evolve Bank & Trust, Metropolitan Commercial Bank, Uphold, BitPay, Apto Payments, i2c Inc. and

Majority of institutional investors ready to buy digital assets, study says

A new study found that institutional investors’ appetite for digital assets, including cryptocurrencies, is growing. New data shows that institutional investors’ interest in cryptocurrencies and crypto-related businesses is continuing to grow. Fidelity Digital Assets, the crypto arm of the global asset management giant Fidelity Investments Inc, tasked Coalition Greenwich to survey 1,100 institutional investors to understand their expectations regarding digital asset investments.

Turkey’s crypto bill ready for parliament, says Deputy Minister of Finance

The legal draft places a minimum capital requirement for crypto businesses operating in Turkey. The Turkish Ministry of Treasury and Finance announced that a draft bill to establish a legal framework for crypto assets in the country is ready. Deputy Minister Şakir Ercan Gül announced that the crypto bill would be proposed to The Grand National Assembly of Turkey (TBMM), the unicameral Turkish legislature, at the start of the next legislative year in October 2021.Noting that Turkey is using a free-floating exchange regime — i.e.

Binaryx Digital Assets Exchange Launches Crypto Services for Businesses

The European Binaryx digital assets exchange has launched a set of services aimed at businesses, allowing them to diversify their crypto assets portfolios and bypass the hurdles typically associated with purchase and sales operations, as well as direct digital asset safekeeping.