Coinbase chief executive said a disclosure in its latest quarterly filing did not indicate the largest U.S. cryptocurrency exchange faced a bankruptcy risk, and it had been made to meet a regulatory requirement. Brian Armstrong’s comments on late Tuesday came after the company said in the event of bankruptcy, crypto assets held by the exchange…
The tussle between India’s apex financial institution Reserve Bank of India and the crypto industry is finally out. Brian Armstrong, co-founder and chief executive of Nasdaq-listed Coinbase said the company disabled UPI payment from its platform due to informal pressure from RBI. Armstrong also stated that the RBI and government have been applying soft pressure…
The value of Bitcoin continued to fall over the weekend as it dropped below $34,000, according to the Coinbase cryptocurrency exchange, BBC reported. The world’s largest cryptocurrency by market value has now fallen by 50 per cent since its peak in November last year. The slide in the value of digital assets comes as stock…
Bitcoin on Sunday witnessed another round of free fall, slipping below $35,000 per coin, as the global crypto market went through a massive slump of over 4.5 per cent in the past 24 hours to $1.66 trillion. All cryptocurrencies were weighed down as central banks globally tried to control inflation by raising interest rates. Bitcoin…
Finance Minister Nirmala Sitharaman on Saturday flagged anonymity as an “inherent risk” in blockchain technology and called for taking precaution in future with a rise in the use of this technology. The finance minister made it clear that using the distributed ledger technology (DLT), which is also called as blockchain, is absolutely imperative and the…
US-based chipmaker Nvidia will reportedly pay $5.5 million to settle charges that it unlawfully obscured how many of its graphics cards were sold to cryptocurrency miners. The US Securities and Exchange Commission (SEC) announced the charges and a settlement with the company. Its order claims Nvidia misled investors by reporting a huge boost in revenue…
Keeping the rising cryptocurrency scams in mind, the US has nearly doubled its cryptocurrency enforcement division, adding another 20 positions to the ‘Cyber Unit’. The total number of staff will now rise from 30 to 50. By nearly doubling the size of this key unit, the US Securities and Exchange Commission (SEC) said in a…
India should take a cautious and gradual approach towards launching a central bank digital currency (CBDC) as developing it could have some hazards, including those to institutions, end-users of retail CBDCs, and the reputation of the central bank, says a National Council of Applied Economic Research (NCAER) working paper. The paper has been co-authored by…
The Central African Republic declared Bitcoin an official currency, the second nation in the world to accept the cryptocurrency as legal tender. “Cryptomoney including Bitcoin is now considered an official currency in CAR,” Albert Mokpeme, spokesman for President Faustin-Archange Touadera, said on Thursday. “By legaliding the use of Bitcoin, CAR hopes to attract investors,” he…
Flagging concerns over likely misuse of crypto, Finance Minister Nirmala Sitharaman has said India will take a considerate decision on regulation around the virtual currency. The decision on crypto will not be rushed through, she said in an interaction at Stanford University. “It will have to take its time…all of us to be sure that…
