As Russia invaded Ukraine, people started donating the Ukrainian army in cryptocurrencies to support them and in the past 24 hours, more than $400,000 worth Bitcoins have been donated to just one group. Come Back Alive, a Ukrainian NGO that raises crypto funds for the Ukrainian army, received more than $400,000 worth of digital tokens…
The Supreme Court on Friday asked the Centre to make its stand clear on Bitcoins. Currently, there is no regulation or any ban on the use of cryptocurrencies in the country. A bench comprising Justices D.Y. Chandrachud and Surya Kant told the additional solicitor general (ASG) Aishwarya Bhati, “You have to make your stand clear.”…
When the United States barred Americans from doing business with Russian banks, oil and gas developers and other companies in 2014, after the country’s invasion of Crimea, the hit to Russia’s economy was swift and immense. Economists estimated that sanctions imposed by Western nations cost Russia $50 billion a year. Since then, the global market…
Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank’s views about cryptocurrencies might have delayed the government’s proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very…
Advertisers will have to put a disclaimer while promoting the “highly risky” and unregulated cryptocurrencies from April 1, a self-regulatory body for the industry said on Wednesday. All virtual digital assets (VDAs), which are commonly referred to as crypto or non-fungible tokens (NFTs), will have to put the disclaimer in a “prominent and unmissable” way…
“Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” The Advertising Standards Council of India (ASCI) wants this disclaimer prominently displayed on ads and promotions related to virtual digital assets (VDAs) like cryptos or non-fungible tokens (NFT). Noting that several advertisements…
A 27-year-old man held an Apple Store customer hostage for several hours at the company’s flagship store in Amsterdam and demanded $200 million in cryptocurrency. The suspect, in camouflage gear, fired a gun and then held an Apple employee hostage for several hours before being apprehended late on Tuesday. Several other people who were also…
US President Joe Biden is likely to move executive order to regulate cryptocurrency this week, as per media reports. As per a memorandum by the US National Security Council (NSC) memorandum, government agencies, include the Departments of the Treasury, State, Justice, and Homeland Security, will be asked to assess the risks and opportunities that crypto…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Bitcoin miners are feeling the heat – and the pain’s rippling downstream to pressure prices. The cryptocurrency’s spectacular rally in 2021 drew thousands of entrants into mining, or producing new coin. As a result the hashrate, or combined computational power used by Bitcoin miners globally, has…
World’s largest NFT (non-fungible token) marketplace, OpenSea on Sunday confirmed that it has been hit by a phishing attack and at least 32 users had lost their valuable NFTs worth $1.7 million. OpenSea Co-Founder and CEO, Devin Finzer acknowledged the phishing attack, confirming that 32 users have lost NFTs so far. He said rumours that…
