The UK government on Tuesday joined a slew of nations in cracking down on misleading cryptocurrency ads to protect consumers. The country has joined Spain, Singapore and India in an effort to reign in cryptocurrency advertisements that promise wild returns. The UK Treasury published a consultation response, saying that proposed legislation will also provide the…
The Omicron-led third wave of Covid-19 may turn out to be “more of a flash flood than a wave” for the Indian economy, the RBI has said. More on that story in our top headlines Tuesday: Synchronised global regulation of crypto needed: PM Modi at WEF Prime Minister Narendra Modi on Monday called for synchronised…
Prime Minister Narendra Modi on Monday called for synchronised global action to regulate cryptocurrencies, at a time when India is contemplating bringing a legislation to regulate such virtual currencies. Speaking at the virtual summit of the World Economic Forum, Modi said that steps taken by one country to regulate cryptocurrencies may not be sufficient, given…
SHANGHAI (Reuters) – China’s regulators are tightening control over the inner workings of its currency market, pressuring banks to trade less and in smaller ranges, two banking sources told Reuters, as part of a sweeping push to curb speculation. The moves follow recent efforts at curtailing financial risks that include dampening commodity price rises, banning…
How about paying for your Taco Bell order with Dogecoin? Or some of Whole Food’s avocado ice cream with Bitcoin. That’s the goal of a new partnership between crypto payment processor BitPay Inc. and Verifone Inc., one of the world’s largest providers of those little machines you use to pay via a credit card or…
Beijing’s new blanket ban on all cryptocurrency trading and mining – the broadest yet by a major economy – has sent crypto exchanges and service providers scrambling to sever business ties with mainland Chinese clients. Shares in a range of Chinese crypto-related firms plunged on the ban which closes off loopholes left in previous regulatory…
The cryptocurrency market made a swift comeback from the turbulence last week triggered by China’s latest crackdown volley, with the likes of Bitcoin and Ether recouping most of their losses on Monday. Bitcoin rallied to about $44,000 as of 1:35 p.m. in Hong Kong, near the level when the People’s Bank of China on Friday…
China’s fiercest shot yet across the bows of the cryptocurrency world appears to have left investors mostly unruffled. Though Bitcoin and some of its peers tumbled Friday after the People’s Bank of China issued a statement banning crypto transactions and vowing to root out the mining of digital assets, they have largely rebounded since. Bitcoin…
By Samuel Shen and Andrew Galbraith SHANGHAI (Reuters) – Cryptocurrency exchanges and providers of crypto services are scrambling to sever business ties with mainland Chinese clients, after Beijing last Friday issued a blanket ban on all crypto trading and mining. In a culmination of years of efforts to rein in the sector, 10 powerful Chinese…
Amid a heated debate over Bitcoin’s environmental toll, two companies say they have an answer on mitigating some of the negative effects: Nuclear energy. Power startup Oklo Inc. said it’s partnering with Bitcoin mining and hosting firm Compass Mining to introduce advanced fission to the energy-intensive process of minting new coins. It’s an effort, the…
