Russia is considering allowing cryptocurrency to be used for international payments, Interfax news agency quoted a government official. “The idea of using digital currencies in transactions for international settlements is being actively discussed,” Ivan Chebeskov, head of the finance ministry’s financial policy department, was quoted as saying. Russian officials are wrestling with how to regulate…
Decentralized-finance investors are betting on Ethereum’s revamp to help thaw out the market’s more than two-months-long crypto winter. The DeFi sector, where investors earn yields by trading and staking cryptocurrencies without centralized intermediaries, has declined sharply following the collapse of the TerraUSD stablecoin, and as soaring inflation puts the Federal Reserve on a path of…
Sagging crypto prices and the collapse of the TerraUSD stablecoin are no deterrent for venture capitalists who still see a lot of promise in the industry. In the latest example of that commitment, Andreessen Horowitz said Wednesday that it had raised a $4.5 billion crypto fund, the industry’s largest to date. The firm is dedicating…
Cryptocurrency portfolio tracking and tax compliance platform CoinTracker on Wednesday announced its foray into the Indian market. The company’s move also comes against the backdrop of the government mandating a 30 per cent taxation on such transactions with effect from April 1. Starting today, the crypto tax compliance and portfolio tracking products will be available…
A free bitcoin pizza stall and a “Liquidity Lounge” were among the treats on offer for attendees at this year’s meeting in Davos, where blockchain and cryptocurrency firms have taken over its main street, despite a recent crash in digital coin values. Executives from the crypto sector have descended on the annual gathering of business…
Sunday was Bitcoin Pizza Day and delegates were offered slices of pizza on the Promenade to mark the day when Laszlo Hanyecz used the crypto to buy two pizzas from Papa John’s in Florida on May 22. Hanyecz paid 10,000 BTC, then worth $41, to buy pizza, which was the first physical commodity to be…
Vitalik Buterin, co-founder of the Ethereum blockchain platform, is the latest casualty in the dramatic collapse of crypto fortunes. “I’m not a billionaire anymore,” Buterin, 28, wrote Friday in a Twitter post. Buterin created Ethereum in 2014 and is the owner of a digital wallet that as recently as November contained holdings worth about $1.5…
European Central Bank President Christine Lagarde said crypto-currencies are “based on nothing” and should be regulated to steer people away from speculating on them with their life savings. Lagarde told Dutch television that she’s concerned about people “who have no understanding of the risks, who will lose it all and who will be terribly disappointed,…
Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99% of its value last week after its paired stablecoin TerraUSD collapsed. Both tokens are affiliated with Terra, a blockchain platform co-founded by Korean developer Do Kwon and, according to…
Cryptocurrencies like bitcoin were meant to be used as digital cash. Instead, they’ve become popular as speculative investments. As well as being resource-intensive and inherently wasteful, cryptocurrencies are also incredibly volatile. Prices for the largest cryptocurrencies, bitcoin and ethereum, have both dropped by over 55% in six months, leading some to suggest that regulation is…
