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The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has once again expressed concerns regarding the impact of cryptocurrencies on India’s financial stability. Crypto Presents ‘Serious Concerns’ to RBI The Indian government is currently awaiting the Cabinet to take up the crypto bill. However, the country’s central bank, the Reserve Bank of India (RBI), still has major concerns about cryptocurrencies. Governor Shaktikanta Das reportedly said Wednesday: We have serious, major concerns on cryptocurrency with respect to financial stability, [and] have conveyed the same to government of India. This is not the first time the RBI chief has voiced concerns regarding cryptocurrencies. In June, he similarly said: “We have major concerns on cryptocurrency, which we have conveyed to the government. With regard to advice to investors, well, central banks don’t give any investment advice. It’s up to each investor to make his own appraisal, to do his own due diligence and take a very careful call with regard to his own investments.” India’s finance minister, Nirmala Sitharaman, said in July: “The Cabinet note is ready. We have to see when the Cabinet can take it up and consider it so that then we can move it.” However, the Economic Times reported last week that the Indian government is still working on how to regulate cryptocurrencies and is planning to treat them as commodities and regulate per use cases. This week, the chairman of India’s Parliamentary Standing Committee on Finance, Jayant Sinha, said India’s crypto legislation will be “distinct and unique” due to the country’s unique circumstances. It will not follow countries such as the U.S., Japan, or El Salvador which recently adopted bitcoin as legal tender. Meanwhile, the RBI said it plans to unveil a digital rupee model by the end of the year and launch in phases. What do you think about the concerns voiced by the RBI governor? Let us know in the comments section below. View the full article

On Friday, Grayscale Investments, the world’s largest digital currency asset manager in terms of assets under management (AUM), revealed that three trusts have been filed with the Securities and Exchange Commission (SEC) in order to become SEC reporting companies. The three trusts include individual crypto asset products such as the bitcoin cash trust, the litecoin trust, and the ethereum classic trust, which will join three other Grayscale trusts that are already SEC reporting companies. Grayscale’s BCH, LTC, ETC Trusts to Join Three Other Products as SEC Reporting Companies Grayscale Investments has detailed that three individual crypto trusts are moving forward with their product growth cycle. The company announced on Friday that the Bitcoin Cash Trust (OTCQX: BCHG), Litecoin Trust (OTCQX: LTCN), and the Ethereum Classic Trust (OTCQX: ETCG) have been registered with the SEC in a new filing. The Form 10 registration will effectively convert the trusts into SEC reporting companies and eventually, Grayscale hopes these trusts will become exchange-traded funds (ETFs). The digital currency asset manager stated that the trusts’ “product development pipeline” was described in a blog post Grayscale published last April. The blog post, called “Grayscale’s Intentions for a Bitcoin ETF,” mostly discusses the firm’s bitcoin (BTC)-based trust, but the firm further says the company will “ultimately convert each product into a digital currency ETF.” Grayscale commanding six crypto trusts with SEC reporting status is a milestone, according to Craig Salm, Grayscale Investments’ vice president of legal operations. “This milestone reflects Grayscale’s continued commitment to offering transparent investment vehicles that voluntarily exceed standard reporting requirements, meet a heightened level of disclosure, and are subject to additional regulatory oversight,” Salm explained in a statement sent to Bitcoin.com News. “As we await regulatory approval for a Bitcoin ETF, we remain focused on providing investors with opportunities to access the digital currency ecosystem through Grayscale’s secure, trusted family of products,” he added. Highly-Anticipated SEC Decision Concerning Bitcoin ETF As SEC reporting companies, the LTC, BCH, and ETC trusts will need to file additional reports and provide more financial statements. The trusts must follow all the rules under the U.S. Exchange Act (SEA) and file a Form 8-K. The three trusts that were previously granted SEC reporting status include Grayscale’s Bitcoin Trust, Ethereum Trust, and the Digital Large Cap Fund. Grayscale products are handled by the MSRB-registered and FINRA/SIPC member Genesis Global Trading, Inc. At the time of writing, Grayscale Investments is also waiting to see if the U.S. regulator will approve the firm’s bitcoin (BTC) ETF filing. Furthermore, Grayscale is among a dozen prospects that are attempting to get SEC approval for a bitcoin exchange-traded fund. What do you think about Grayscale announcing that LTC, BCH, and ETC trusts are becoming SEC reporting companies and aim to be ETFs in the end? Let us know what you think about this subject in the comments section below. View the full article

Law enforcement in the Russian republic of Tatarstan have made new arrests in connection with the crypto Ponzi scheme Finiko. Two women detained this week are believed to have attracted millions of dollars to the pyramid. The now collapsed Finiko lured investors from a number of countries in the post-Soviet space and around the world, including Germany and the U.S. Female Influencers Detained in Ongoing Finiko Investigation Police in Kazan, Tatarstan’s capital city, have arrested two women for their involvement in the massive crypto pyramid Finiko, Realnoe Vremya reported. Lilia Nurieva, founder of a real estate agency who joined the Ponzi scheme, and Dina Gabdullina, a high-ranking Finiko executive, were taken into custody after investigators summoned them for questioning earlier this week. Dina Gabdullina and Lilia Nurieva. Source: social media. The two detainees have allegedly enticed numerous investors to send over $10 million to the scam through multi-level marketing, for which Nurieva achieved the status of a so-called “10th star” in the financial pyramid, while Gabdullina was given the post of vice president. Both have been charged with participating in large-scale fraud as members of an organized crime group operating between Dec. 1, 2018 and July 28, 2021. Their apprehension follows the arrests of Finiko founder Kirill Doronin, an Instagram influencer associated with other Ponzi schemes in the past, and Ilgiz Shakirov, a businessman from Kazan who also rose to the rank of vice president after signing up at least 100,000 investors. Russian authorities have issued international arrest warrants for three of Doronin’s associates as well – Marat and Edward Sabirov and Zygmunt Zygmuntovich. On Thursday, the Vakhitovsky court of Kazan decided to keep Gabdullina and Nurieva in detention until Nov. 7. That’s despite 31-year-old Gabdullina’s defense asking for house arrest in view of her medical conditions and Nurieva partially admitting guilt while offering her assistance to law enforcement authorities in the ongoing investigation. Russia’s Interior Ministry Takes Over Finiko Investigation Meanwhile, the Interior Ministry of the Russian Federation has announced that the officially recognized damages inflicted on Finiko investors exceed 1 billion rubles (almost $14 million). Due to the magnitude of the fraud, the federal department has taken over the criminal investigation into the case. Initial estimates pointed to 250 million rubles in losses (almost $3.5 million). In the early stages of the investigation, judicial authorities in Tatarstan had acknowledged 80 victims of the crypto Ponzi scheme. According to the ministry, however, the number of applications filed by defrauded investors has already reached 3,300. Among them, besides Russian citizens, are residents of Germany, Austria, Hungary, Kazakhstan, Kirgizstan, the United States, and other countries. According to a recent report by blockchain forensics company Chainalysis, the Russia-based Finiko, a non-existent entity, has received more than $1.5 billion worth of bitcoin between December 2019 and August 2021. The digital cash came in 800,000 separate cryptocurrency deposits from investors lured with promises of monthly returns of up to 30%. The crypto pyramid collapsed this summer. Do you think more arrests will follow in the Finiko crypto pyramid case? Tell us in the comments section below. View the full article

The British-founded American multinational corporation headquartered in New York City, Sotheby’s, closed the Yuga Labs “101 Bored Ape Yacht Club” non-fungible token (NFT) collection auction at $24.3 million for the lot. The auction ended on September 10 and surpassed the expected settlement for the NFT lot which was estimated to be around $12-18 million. The ‘101 Bored Ape Yacht Club’ and ‘Mutant Serum’ NFT Collection Auctions for $24 Million NFT project the Bored Ape Yacht Club (BAYC) has been a popular non-fungible token collection since the project’s inception. Many of the NFTs have sold for hundreds of thousands of dollars for a single BAYC NFT. There are approximately 10,000 BAYC NFTs in the original collection and 5,423 unique ethereum addresses own at least one BAYC NFT. Onchain statistics show one address owns approximately 105 Bored Ape Yacht Club units and data shows the collection is the fourth largest in seven-day sales this week. Dappradar.com stats indicate that the BAYC collection has seen $44.82 million in sales this week which is down 64% since last week. This week saw 368 BAYC NFT traders, which is around 58% lower than the number of traders the week prior. The $44 million worth of BAYC NFT settlements stemmed from 259 sales this past week. In addition to the BAYC sales on NFT marketplaces, Sotheby’s sold 101 BAYC NFTs for $24.3 million. The lot of 101 BAYC NFTs contained a total of three M1 “mutant serum” NFTs and another three M2 “mutant serum” NFTs. The BAYC NFT collection owner can leverage the M1 and M2 pieces to issue Mutant Ape Yacht Club (MAYC) NFTs. That specific collection (MAYC) is the 11th largest in terms of weekly sales. Metrics show the last seven days saw $24.54 million in MAYC sales between 1,642 traders and across 1,177 sales. Sotheby’s Knee-Deep in Crypto, Auction Raises BAYC NFT Floor Price Value The leading auction house Sotheby’s has been competing with Christie’s auction house when it comes to non-fungible token (NFT) collection auctions. Of course, Christie’s helped sell the most expensive NFT to date when Beeple auctioned his NFT for $69 million. However, Sotheby’s is no stranger to crypto and blockchain solutions as it recently revealed an auction for a rare diamond and accepted digital assets for payment. Sotheby’s sold a single Cryptopunk for $12 million in June, and the month prior the auction house said it was teaming up with Coinbase to accept crypto assets for physical art sales. Sotheby’s first joined the NFT fray in March when it partnered with a mysterious and popular artist called “Pak.” Sotheby’s auction also increased the floor price value ($130K per BAYC via Opensea) of a BAYC, at least by the auction’s settlement metrics, to $235K per BAYC. In addition to Christie’s and Sotheby’s, the popular Asian auction house Phillips has stepped into the cryptocurrency world. During the first week of May, Phillips Auction House revealed it was accepting crypto assets for a physical art auction, which featured the popular and anonymous street artist Bansky. What do you think about the results of the Sotheby’s BAYC NFT collection auction? Let us know what you think about this subject in the comments section below. View the full article

Mining and trading of cryptocurrencies are illegal in Nepal, the country’s central bank has reminded citizens of the Himalayan nation. The regulator also warned that participating in such activities would entail penalties as per the current legislation. Despite its position, however, the Nepalese have continued to invest in bitcoin, media reports reveal. Engaging in Illegal Crypto Activities is Punishable by Law, Nepal Rastra Bank Says in Notice Cryptocurrency trading and mining are punishable as they are illegal in the country, the Nepal Rastra Bank (NRB) remarked in а recently published warning titled “Cryptocurrency transactions are illegal.” In the notice, which appeared on the central bank’s website on Thursday, the financial regulator refers to Nepal’s Foreign Exchange Act which was adopted in 2019. Quoted by the online news outlet Khabarhub, the NRB stated: Cryptocurrency trading and mining and encouraging the illegal activities is punishable as per existing laws. “Likewise, those swindling people through these illegal activities are subject to action,” the monetary authority further emphasized. The warning is targeting Nepalese who entice others to engage in coin minting or cryptocurrency exchange. Answering the question “Is it possible to trade cryptocurrencies including Bitcoin in Nepal?” in its website’s FAQ section, the central banking institution says: “Cryptocurrencies including Bitcoin cannot be traded in Nepal. Doing such business is illegal.” Nepalese Media Urges Government to Change Its Crypto Policy With cryptocurrencies being banned in Nepal also under the NRB Act, there have been reports in the past of the government in Kathmandu cracking down on related activities and even arresting people involved in mining and trading. Nevertheless, bitcoin has continued to attract attention from the country’s population and articles by local media have responded to that interest. Despite NRB’s warnings, the Nepalese have continued to invest in cryptocurrencies, according to local media. Some successful examples of people who put money into bitcoin have had an impact on the Nepalese, Nepali Trends noted in a piece devoted to cryptocurrencies this past July, elaborating: Cryptocurrency can be the future currency in the world… So, there is a huge suspect some people are still transacting by bitcoin. “It seems that Nepalese are investing in several ways. Some reports show that people are taking help from relatives and friends living abroad to invest in cryptocurrencies,” the publication wrote. Such investments remain largely unnoticed as Nepal lags behind in technological advancements and the central bank is unable to track and regulate bitcoin transactions, the online edition pondered. The author, Tirsana Khadka, believes instant legalization of cryptocurrencies may be impossible but thinks Kathmandu authorities cannot underestimate the increasing use of digital cryptocurrencies in business globally. “As it does not involve a third party, the transaction is secure, fast, and cheap,” Khadka says, insisting that “Nepal should change the perception about bitcoin and cryptocurrency legislation on a policy level soon.” Do you think Nepalese regulators will change their attitude towards crypto activities in the future? Share your expectations in the comments section below. View the full article

Bastyon’s messaging app would include end-to-end encryption, no link to phone number or any other metadata making it the most private messenger. Pocketnet, the social network based on proof-of-stake blockchain technology, enters a new phase of growth by changing its name to Bastyon and by releasing a brand new private messaging component. This new crypto chat app contains state-of-the-art end-to-end encryption and will not use any personally identifiable information from the user. One of the most interesting features of this messenger is its ability to send crypto payments just like any other message. The Bastyon network now includes: a decentralized social network app a decentralized video and live-streaming platform a private messenger app that is also… you guessed it… decentralized The underlying blockchain containing all the data used by Bastyon is still named PocketNet and the network token that is used to compensate node operators and network participants is still the PocketCoin (PKOIN). The newly released messenger app contained in Bastyon also allows users to exchange 19 different tokens directly into Pocketcoin. These tokens include BCH, XRP, DOGE, NEO, DASH and others. Direct exchange into Pocketcoin augments the three exchanges offering PKOIN pairs, Bilaxy, Digifinex and Bitforex. The next step for Bastyon is the completion of the decentralized advertising marketplace that will enable advertisers and authors to use PKOIN to complete riskless advertising deals, using PKOIN smart contracts. Importance of the Bastyon Private Messenger Bastyon private messenger differentiates from existing messengers in the following ways: Completely decentralized, non-corporate open source code with no central servers Not connected to your phone number (all major messengers are connected to your mobile number now) Every one-on-one chat is end-to-end encrypted by default All images sent and received are stored encrypted ‘at rest’ meaning that new Apple scanning algorithms will not see them Ability to send crypto to contacts with one click Choose to send PKOIN or 19 other cryptos that can be exchanged directly into Pocketcoin (PKOIN) Bastyon messenger is hosted on decentralized servers, any user can run a server for themselves or for the network to earn extra PKOIN. This is dramatically different from all major existing messengers. They are either not end-to-end encrypted by default or require a phone number connection, which violates the users’ privacy. Bastyon messenger also augments the newest video capability of the network. Videos shared on the Bastyon network can be viewed and rated directly in the chat. This will increase the reach for Bastyon video creators. Success of Video on Bastyon Bastyon has recently added video uploading capability. Videos are hosted on decentralized servers that can be launched by anyone, with compensation in Pocketcoin (PKOIN). The volume of video uploads is growing exponentially. Pocketcoin (PKOIN) as the Token of Bastyon The whole Pocketnet network including Bastyon.com and other apps relies on the Pocketcoin (PKOIN) to compensate and incentivize creators, node operators and users. PKOIN is a proof-of-stake currency on the Pocketnet blockchain. Uses of PKOIN: Attaching to Comments Bastyon.com includes a number of novel ways that PKOIN can be used. Users can attach PKOIN to donations for bloggers along with comments to videos, live streams or posts. A comment with a donation will be brought to the top of the discussion, thus incentivizing the author to answer. Uses of PKOIN: Send through Chat Bastyon users can now seamlessly send PKOIN in any individual or group chat directly to the user. This is important, because exchanging crypto addresses is tedious and is prone to mistakes. Sending PKOIN through the Bastyon chat is verified by the chat digitial signatures, which are connected to public identiies on the Pocketnet blockchain. Easy Exchange of 19 Currencies into PKOIN Bastyon team released a simple tools to exchange 19 different currencies directly into PKOIN, right from the Bastyon PKOIN wallet. The currencies include BCH, DOGE, XRP, ETH, USDT, XLM, NEO, DASH, BAT and others. This enables Bastyon users to support bloggers or send transfers to friends by using many currencies. PKOIN has recently been listed on three major exchanges Bilaxy, Digifinex and Bitforex. PKOIN has a fixed supply of 24,375 thousand coins that will ever be issued with the first halving coming up. Future of Decentralized Social Media & Social Crypto Transfers The new release of Bastyon.com establishes the network and PKOIN as a major player in the decentralized social media and crypto payment space. Pocketnet network and Bastyon are non-corporate open source projects, modeled on Bitcoin. This prevents many of the abuses that social media platforms tend to inflict on users once they grow big. About Pocketnet: Pocketnet is a decentralized, open-sourced, non-corporate project. It is modeled on Bitcoin and can be called the Bitcoin of social networks, with the major difference that it uses the energy efficient Proof-of-Stake algorithm. Pocketnet is supported by a network of equal decentralized nodes with users maintaining full control of their data and content. Pocketnet rewards node operators, and all content contributors. Active users can gain reputation and may then participate in the sophisticated content moderation system. Many active bloggers have abandoned Big Tech’s social networks and turned their attention to Pocketnet. Pocketcoin (PKOIN) is the native token that facilitates the Proof-Of-Stake network, and emission is limited to 24,375,000. There was no premine or ICO, as the Pocketnet team is dedicated to the Bitcoin model of organic growth. Download the Pocketnet whitepaper in English here https://bastyon.com/docs/Bastyon_whitepaper.pdf Download the Pocketnet whitepaper in Chinese Mandarin here https://bastyon.com/docs/zh/whitepaper.pdf Access the Pocketnet GitHub here https://github.com/pocketnetteam/pocketnet.core This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The stablecoin giant tether is by far the largest dollar-pegged crypto asset in the crypto economy and today, the number of tethers in circulation is nearing $70 billion. 90 days ago on June 12, 2021, the number of tethers in circulation was around 63 billion tokens and the supply has swelled by 9.99% since then. Circulating Tether Economy Nears $70 Billion, 1 Billion Tethers Minted on Solana The largest stablecoin today, in terms of market valuation is tether (USDT) and on Friday, September 10, USDT’s market capitalization is $69.3 billion, according to the company’s transparency balance web page. The number is similar to most crypto market aggregation web portals tallying up the value of each coin market. Below USDT’s market valuation is usd coin (USDC) with $29 billion and the Binance dollar-pegged token BUSD with $12.4 billion. The top four stablecoins by market valuation on September 10, 2021. According to the USDT transparency page, the token is issued on several blockchains and in recent times the coin has been issued on Solana. The transparency page notes that tethers exist on Ethereum, EOS, Algorand, Liquid, Tron, Omni Layer, Bitcoin Cash, and Solana. Tether will reportedly reside on the Avalanche (AVAX) network as well. $33.8 billion is authorized on Ethereum while Solana has $1.1 billion authorized to date. 90 days ago the USDT in circulation was around 63 billion and today there’s over 69.3 million tethers circulating throughout the crypto economy. 50% of Today’s Crypto Trades Are Swapped With Tether Data from Coingecko’s stablecoin by market cap stats indicate that tether (USDT) exists on 392 exchanges worldwide. Cryptocompare.com metrics show that when paired against bitcoin (BTC), tether (USDT) represents 58.29% of all trades on Friday. Tether’s market cap from 2015 to the present day. 48.50% of ethereum (ETH) trades are swapped with tether and the stablecoin captures 62.03% of cardano’s (ADA) trading share. Aggregation websites show that out of the $160 billion in global crypto trades on Friday, tether commands ​​$80.5 billion of that volume. Other stablecoins that have seen notable issuance increases include terrausd (UST), trueusd (TUSD), neutrino usd (USDN), and frax (FRAX). Nothing has increased in circulation as much as tether has as USDT’s market cap on Friday, March 27, 2020 was just over $4.2 billion in value and 532 days in increased by 1,549.9%. What do you think about tether’s market cap growth nearing $70 billion today? Let us know what you think about this subject in the comments section below. View the full article

Universal Air Travel Plan (UATP) is bringing more than 300 airline members and travel merchants cryptocurrency payment options. Airlines in the UATP network include Air Canada, Air China, Delta, Frontier, Japan Airlines, Jetblue, Qantas, Southwest, and United. UATP Gets Into Crypto UATP is an airline-owned global payment network accepted by thousands of merchants worldwide for air, rail, hotel, and travel agency payments. UATP announced Wednesday that it has partnered with Bitpay “to offer its network the ability to accept payments quickly and easily in bitcoin, dogecoin, ethereum, litecoin and six other popular cryptocurrencies for travel.” Bitpay tweeted Friday: UATP is tapping into crypto’s growing payment popularity to bring more than 300 airline members and merchants more payment options. Currently, UATP’s members include Aeromexico, Airplus International (British Airways and Lufthansa), APG Airlines, Air Canada, Air China, Air New Zealand, Air Niugini, American Airlines, APG Airlines, Austrian Airlines, BCD Travel, China Eastern Airlines, Delta Air Lines, EL AL Israel Airlines, Etihad Airways, Fareportal, Frontier Airlines, GOL Linhas aereas inteligentes S.A., Hahn Air, High Point, Japan Airlines, Jetblue, Malaysia Airlines, Qantas Airways, Shandong Airlines, Sichuan Airlines, Southwest, Sun Country Airlines, Transavia Airlines, Tuifly GmbH, Turkish Airlines, United Airlines, and Westjet. “Cryptocurrency continues to gain momentum as a safe and trusted payment option, especially for high-value purchases like travel,” Bitpay CEO Stephen Pair commented, adding: UATP’s broad network of airlines are also now capable of reaching millions of new global customers who choose to pay with crypto regardless of what wallet they hold since Bitpay supports all crypto wallets. Some UATP members. Source: UATP UATP CEO Ralph Kaiser opined, “The UATP – Bitpay partnership brings together the perfect combination of two experts in airline and cryptocurrency payments.” He elaborated: Crypto payment stands to be a market changer in the industry; this partnership creates the opportunity for the airlines to attract new customers and to be a first-mover in this very exciting space. What do you think about UATP partnering with Bitpay? Let us know in the comments section below. View the full article

The digital currency network Cardano is two days away from the upcoming hard fork on September 12 and the community is expecting to see functional smart contracts. These can be used for decentralized finance (defi), non-fungible tokens (NFTs), and other types of decentralized applications (dapps). Cardano has managed to capture the third-largest crypto market capitalization among 10,000+ crypto assets but over the last seven days, cardano has lost more than 16% in value. Cardano Expects to Upgrade in 2 Days With more than $400 billion under the hood, the ethereum (ETH) market is by far the largest smart contract platform today in terms of fiat valuation. Ethereum has held this position for a few years now, but a number of other smart contract crypto asset networks have been moving toward ETH’s position. Besides ETH, today’s top smart contract markets by market valuation include cardano (ADA), solana (SOL), polkadot (DOT), terra (LUNA), avalanche (AVAX), and more. Ethereum’s fees and its difficulty scaling have led to funds moving to other smart contract competitors with lower fees and faster transaction times. Cardano has promised to be an Ethereum competitor and the next upgrade is expected to give developers functional smart contract capabilities. The upgrade on September 12 is called “Alonzo” and smart contract capabilities were there for previous Alonzo phases, but only for technical participants. Goguen Phase Will See the ‘Integration of Smart Contracts,’ Goguen Adds the ‘Ability to Build Decentralized Applications’ If all goes well then the community hopes the network can be expanded to leverage defi, NFTs, tokenization, and other types of dapps. Alonzo is part of Cardano’s roadmap which involves five different eras including Byron, Shelley, Goguen, Basho, and Voltaire. At the moment, the Cardano network is in the Goguen era. The developers have been working on Goguen in parallel with Shelley and after Goguen completes, both technical-savvy and non-technical individuals will be able to produce Cardano smart contracts. “With the integration of smart contracts, the Goguen era represents a big step forwards in capability for the Cardano network,” the Cardano team details on its website. “Where the Shelley era decentralizes the core of the system, Goguen adds the ability to build decentralized applications (dapps) on Cardano’s solid foundation of peer-reviewed research and high-assurance development.” This week Outlier Ventures published a report on blockchain development in the second half of 2020 and the first half of 2021, and the Cardano project is one of the top projects in terms of development. In terms of active developers, Ethereum has 168 while Cardano has 165, according to Outlier’s report posted by Robin Andre Nordnes. While cardano (ADA) has lost more than 16% during the last seven days, year-to-date statistics show ADA has risen more than 2,555%. What do you think about the upcoming Cardano network upgrade? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. esports company & BSC Utility token Nobility has announced the appointment of Rostik Rusev on its board of advisors as the company gears up for launch. September 10th, 2021, Florida, USA — Nobility (NBL) is a revolutionary new BSC utility token focused on disrupting the esports industry with it’s unique smart contract capabilities. The project has just announced DeFi enthusiast, crypto entrepreneur, and blockchain business leader, Rostik Rusev as an advisor on its board. Crypto Magician in the Shadows Nobility is proud to announce the appointment of the ‘Crypto Magician in the shadows’ to its advisory board. Rostik Rusev is highly revered in the crypto space and will bring to the project a vast wealth of experience from not only the De-Fi space, but also from his previous work in the PR, Entertainment, and Music industries. Previously known as “The Bad Boy of crypto” Rusev made his name as an early pioneer in blockchain PR and will look to use his industry experience and connections with crypto exchanges to help Nobility increase its utility and disrupt the esports industry with this innovative new approach to DeFi. Led by CEO and Noble esports founder Kyle McDougal, Rusev will help Nobility break into the multi-billion dollar gaming industry and offer the market a scalable global solution. What is Nobility Token? Nobility is a Revolutionary Esports platform & utility token on Binance Smart chain. The token’s utility is focused on organizing and providing gaming tournaments with huge prize pools whilst rewarding token holders, and content creators with reflection rewards paid out in BUSD. Nobility will be a scalable global solution that addresses some of the limitations of the esports gaming industry through its blockchain smart contract; creating a fair, balanced, sustainable revenue system in the process. Nobility CEO Kyle McDougal voiced his excitement about the appointment: “We are delighted to announce the addition of Rostik Rusev to our growing team. As an advisor to the Nobility project, Rusev’s vast experience and in-depth understanding of both the blockchain industry, and marketing nuances of crypto will prove invaluable. HIs dedication, passion for change, work ethic and ability to think outside the norm are key attributes that we see as pivotal in our quest to break new ground in esports, and offer the industry a fairer, more balanced, and sustainable revenue system.” NBL Tokenomics The Nobility utility token (NBL) uses a unique blockchain smart contract that employs an 11% fee on all swaps and transfers on the network. What makes Nobility unique is that it pays out rewards from this fee (known as reflections) in BUSD rather than the token itself, which offers much more secure rewards as the coin’s price is pegged and not susceptible to large price swings. For each transaction, a certain number of users are sent their reflections, depending on the size of the transaction and the gas that is used to send the transaction. Another huge benefit of this structure is that Larger transfers can process more BUSD payouts, as the required amount of gas is proportionally less than the value of the tokens. The 11% token fee is broken down and allocated in the following structure: 7% from each transaction is redistributed by weight to qualifying holders in BUSD. 2% added to the liquidity pool. 2% is allocated for Nobility Use wallet: Esports tournament prize pools, marketing, business development, charity donations, scholarship funding, manual burns, community events, giveaways. Nobilities NBL token is currently available to buy on PancakeSwap & Bogged with BSC using MetaMask or TrustWallet Nobility has a host of new developments to be announced soon, as the team looks towards a full launch, more advisors, increased token utility, exchange listings, and organizing huge prize gaming tournaments. Media Contact Details Contact Name: Rostik Rusev Contact Email: Rostik@nobilitytoken.com Nobility Token Socials Website | Twitter | Telegram | Discord | Litepaper Nobility Token is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

A Panamanian lawmaker has introduced a bill to regulate cryptocurrencies in the National Assembly. Among the proposals in the bill is the legalization of cryptocurrencies, like bitcoin and ethereum, as a means of payment, including for paying taxes. Proposed Crypto Law Will ‘Give Legal Certainty and Safety to Crypto Assets in Panama’ As the Bitcoin Law went into effect in El Salvador making BTC legal tender, Panamanian legislator Gabriel Silva tweeted on Sept. 7, “Today we proposed the Crypto Law.” He elaborated: We want Panama to be compatible with blockchain, cryptoassets, and the internet. This has the potential to create jobs, attract investment and bring transparency. The draft law he presented in the National Assembly is titled “Crypto law: Making Panama compatible with the digital economy, blockchain, cryptoassets, and the internet.” Silva explained that the law “seeks to revolutionize public administration, making it transparent, innovative and also promoting a digital economy that reaches most of the citizens.” Illustration of the proposed Crypto Law. Source: Gabriel Silva The lawmaker proceeded to outline three key objectives of the bill. The first is “to give legal certainty and safety to crypto assets in Panama, for example, cryptocurrencies,” he described. The second is to “attract companies and investment and encourage entrepreneurship in Panama that are focused in digital economy,” he added, noting that this will help create jobs. The third is to “broaden the amount of financial services that are offered in Panama, ensuring better prices for everyone.” Illustration of the proposed Crypto Law. Source: Gabriel Silva The proposed law also addresses the use of crypto assets in Panama. Article 8 of the bill states: “Natural persons located in the Republic of Panama or legal entities organized in the Republic of Panama may freely agree to use cryptoassets, including without limitation bitcoin and ethereum, as means of payment for any civil or commercial operation not prohibited by the legal system of the Republic of Panama.” Furthermore, Article 9 addresses the “Possibility of payment of taxes, fees and other tax obligations with cryptoassets.” It reads: The bodies and entities of the Republic of Panama may receive payments, directly or through payment processors or agents contracted for this purpose, for taxes, fees and other tax obligations in cryptoassets, including without limitation bitcoin and ethereum. Silva emphasized that “Panama cannot be left behind in technological innovations.” The proposed crypto law can be found here. What do you think about this proposed crypto law in Panama? Let us know in the comments section below. View the full article

Nigerian fintech entrepreneurs have slammed the Central Bank of Nigeria (CBN)’s decision to select Bitt Inc as its fintech partner. They insist that the choice of Bitt Inc, a Barbados based firm, undermines central bank claims that it is “fighting for the naira in the forex market.” Bitt Inc’s Market Capitalization In fact, as the report by Itedgenews explains, some players in the country’s fintech industry are now lobbying for the CBN to rescind this decision. They cite the small number of people employed by Bitt Inc (three) as well as the fintech firm’s “lower market capitalization when compared to any of Nigeria’s major fintech companies” as some of their key concerns. Others, like fintech analyst Abu Idrissee, see the choice of Bitt Inc ahead of local companies as a continuation of Nigeria’s practice of snubbing local solutions. “With an abundance of indigenous online payment processing platforms and over 30 Fintech companies, Nigeria has the talent, expertise, experience, working models, and capacity to develop the e-naira, or an Africa wide e-currency, locally and in a manner that incubates and enhances our national income, honour, and dignity,” explained Idrissee. Validity of Bitt Inc’s Contract With CBN Questioned Meanwhile, opponents of the CBN’s choice are suggesting that the contract itself may not meet standards. According to the report, Nigerian ministries, departments, and agencies are required by law to seek clearance from the National Information Technology Development Agency (NITDA) before embarking on any project. Consequently, some opponents of Bitt Inc are now asking the NITDA “to consider if the CBN e-naira contract meets the strict compliance to IT procurement processes.” Still others like fintech analyst Adedoja Olawale have suggested that the selection of Bitt Inc proves that the CBN itself is not practicing what it preaches. Olawale explained: We demand an explanation for the decision of the CBN to engage a foreign company that has no pedigree compared to dozens of our indigenous Fintech. This is sheer capital flight. With just under a month before the CBN starts to test the e-naira, it remains to be seen if the central bank is going to take heed of these warnings and reverse its decision to select Bitt Inc. Do you agree that Bitt Inc is not the right fintech firm to partner with the CBN? Tell us what you think in the comments section below. View the full article

Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept. 24 compliance deadline. Bithumb, Coinone and Korbit Maintain Partnerships With Korean Banks Banks have reportedly agreed to keep issuing real-name accounts for South Korea’s top digital asset exchanges. The arrangements will still need to be finalized but the received confirmations will allow the coin trading platforms to complete their registration with the country’s financial authorities before the regulatory deadline expires later this month. On Wednesday, a spokesperson for Nonghyup Bank revealed the institution has agreed to extend deals to issue real-name accounts for traders at Bithumb and Coinone. According to a report by the Korea Jongang Daily, the representative confirmed the bank will provide the exchanges with the documents needed to finalize their contracts. The current agreements with the two crypto platforms are supposed to expire on Sept. 24 when tougher new regulations for the industry adopted in March will be enforced. While previous contracts have been renewed every six months, this time the bank declined to disclose the terms of the latest contracts, Joongang Ilbo’s English-language edition noted. In a similar move, Shinhan Bank announced it’s continuing to issue real-name accounts for Korbit, another leading Korean exchange. The bank remarked, however, the confirmation doesn’t mean the contract with the crypto company has been officially extended. The document has been delivered to allow the exchange to proceed with its registration process, a spokesperson explained, further elaborating: Whether we are extending the partnership will be announced before the Sept. 24 deadline, but for now we are holding that off for later. According to the Korean daily, the statement suggests the bank plans to eventually extend the partnership with Korbit but it will probably wait until the exchange files for registration with the Financial Services Commission (FSC). The publication quotes another source stating that the final announcement is likely to come “in the last minute.” The current agreement expires after Sept. 24. Korea’s Four Largest Crypto Exchanges Ready to Continue Business Under Stricter Rules Acquiring a registration with the Korean Financial Intelligence Unit (FIU), an anti-money laundering body under the FSC, is a key requirement under the country’s updated crypto regulations. To be able to register, Korean exchanges need to not only secure a partnership with a bank in order to implement the real-name account system, but also obtain an Information Security Management System (ISMS) certificate from the Korea Internet and Security Agency. The country’s top four crypto trading platforms have now managed to meet both conditions. Upbit, the largest by trading volume, filed for registration last month. The Korean online bank K Bank is issuing real-name accounts for the platform. However, the whole registration process could take up to three months during which time financial regulators will verify the submitted documentation and approve the application, as the FSC noted earlier this week. Besides Upbit, Bithumb, Coinone, and Korbit, 17 other exchanges have also acquired ISMS certification, according to a report by the Chosun Ilbo daily. Smaller crypto trading venues, however, have found it hard to convince Korean banks to provide them with the necessary services under the revised Special Funds Act. 59 exchanges have yet to meet the requirement and may have to close down after the stricter rules come into force. Do you expect more Korean crypto exchanges to meet the new regulatory requirements by Sept. 24? Tell us in the comments section below. View the full article

NYDIG, a Bitcoin-based fintech firm, has announced it will partner with MVB bank to integrate its Bitcoin services into MVB’s banking as a service solution. The joint effort will allow the development of a white label solution, allowing third parties to complete their financial services with bitcoin functionalities without having to develop these systems in-house. NYDIG and MVB Bank Partner to Integrate Bitcoin NYDIG, a leading fintech solutions company focused on Bitcoin services, has announced a partnership with MVB Bank, a banking-as-a-service provider, to integrate its full bitcoin stack services into its platform. This will allow MVB Bank to offer third parties a full solution that could encompass fiat and bitcoin banking all at once, easing onboarding of its customers to cryptocurrency. MVB Bank currently has over 50 institutional customers among fintech, payments, and gaming companies that use its Victor platform to provide services to their customers. Victor aims to provide an all-in-one solution for financial technology companies, that is adaptable and brandable. Victor’s current customers and its new ones would have the opportunity to add bitcoin services through the platform, without having to do it by themselves. About this, Matt West, CSO of MVB Bank stated: We are thrilled that NYDIG chose to leverage Victor to integrate with MVB and that our developer-friendly APIs accelerated the timeline to launch this exciting program. White Label Solutions Until now, very few companies have provided cryptocurrency-as-a service-enabled platforms. This rendered small companies and small banks unable to offer other products due to a lack of manpower to program support for them. NYDIG and MVB’s joint collaboration will produce a solution that allows companies to add their own branding to the product, and offer bitcoin integration in platforms their customers already know and use daily. This is meant to allow a seamless transition to bitcoin services. NYDIG’s CIO, Patrick Sells, reflected about this, stating: Up to this point, only a select few fintech companies have been able to offer Bitcoin products and services, and it has been difficult to achieve. Now the industry has its first turnkey platform to seamlessly deliver white label banking and Bitcoin products side by side. The companies didn’t offer details about when this integration would be ready for testing with customers. What do you think about the new Bitcoin white label services offered by NYDIG and MVB Bank? Tell us in the comments section below. View the full article

The Republic of El Salvador has made many headlines this week as the country adopted bitcoin as legal tender on Tuesday and became the first-known nation-state to purchase the leading crypto asset. A recent report details that remittance providers like Moneygram and Western Union could lose up to $400 million annually if the Chivo wallet is used more. Furthermore, the creator of the world wide web, Tim Berners-Lee has written an opinion piece about why Salvadoran president Nayib Bukele announced the bitcoin tender law at the Miami bitcoin conference. Chivo Wallet Could Hurt Remittance Giants Like Moneygram and Western Union, Says Report Ever since El Salvador adopted bitcoin (BTC) as legal currency on September 7, 2021, the country has continued to be a topic of discussion. Bitcoin.com News has reported on the many developments in El Salvador from ‘Bitcoin Beach’ to the ‘30for30’ trend that took place this week. Moreover, the country started buying mass quantities of bitcoin (BTC) before the legalization was implemented. The very next day, during the bitcoin (BTC) market rout, Salvadoran president Nayib Bukele said El Salvador “bought the dip.” Salvadoran president Nayib Bukele. Additionally, Bitcoin.com News reported on the government bitcoin wallet called Chivo and how the wallet had a number of launch issues during the launch day. However, the following day the ability to download the Chivo wallet was easier and Bukele said the wallet’s maintenance was completed. A recent report published by CNBC explains that if the Chivo wallet happens to gather mass adoption and removes remittance customers from financial institutions they could lose millions. CNBC’s MacKenzie Sigalos reports that “should the population adopt bitcoin at scale,” there’s a chance that “Western Union and MoneyGram will lose $400 million a year in commissions for remittances.” In El Salvador, remittances make up 50% of a citizen’s total income and they make up close to a quarter of the country’s GDP. Sigalos highlights that roughly 70% of the population in El Salvador receives remittances. Sigalos reached out to Western Union and asked the company if it was worried about this possible transition. The reporter wrote: Western Union did not reply to a CNBC request for comment about whether the company was worried about how this might affect business and if there was any plan to alter the fee structure to adjust for increased competition. World Wide Web Inventor Tim Berners-Lee Writes About El Salvador’s Bitcoin Adoption In addition to the reports of remittance firms being hurt by the Chivo wallet, numerous individuals have given their two cents on the El Salvador bitcoin adoption subject. On Wednesday, Bitcoin.com News covered the sentiment stemming from the famous whistleblower Edward Snowden as he said competing nations are now under pressure to acquire BTC as El Salvador did. Furthermore, the creator of the world wide web, Tim Berners-Lee has written about El Salvador adopting bitcoin as well. Berners-Lee is well known for being one of the earliest reporters to cover the subject of bitcoin (BTC) when he wrote articles for Ars Technica. In his latest article published on fullstackeconomics.com discusses why he thinks president Bukele announced the new law at the Miami bitcoin conference. Berners-Lee explains critically and says: “It’s not clear if forcing merchants to adopt bitcoin will actually help people who lack banking services. Bitcoin requires Internet access, which is spotty in many parts of El Salvador. And bitcoin may prove too complex and cumbersome for everyday use,” the inventor of the world wide web stressed. World wide web inventor and English computer scientist Tim Berners-Lee. Berners-Lee articulated how the CEO of Strike, Jack Mallers, revealed the news at the conference during an “emotional and profanity-laden address.” Berners-Lee remarked that the announcement was made at an “unorthodox venue” and he highlighted that “Bukele’s own speech was rather vague about how bitcoin would help El Salvador.” The world wide web creator said it was “telling” how Bukele chose to make his announcement. Berners-Lee said: It’s telling that Bukele chose to announce the initiative in English, at a Bitcoin conference in the United States, rather than addressing a domestic audience. One of his goals seems to be to get Bitcoiners around the world—some of whom are quite wealthy—to visit El Salvador and start businesses there. Berners-Lee further said that there’s a chance that by becoming the “world’s most bitcoin-friendly jurisdiction” it just might lead to “a savvy tourism and business development strategy.” But the English computer scientist continued to criticize the concept and noted that Bukele’s experiment could hurt Salvadorans. “At the same time,” Berners-Lee wrote. “You can see why this might rub some Salvadorans the wrong way. Bukele’s experiment will impose real costs on small shopkeepers who may not be in the tourism business and may never see significant bitcoin business.” What do you think about the possibility of the Salvadoran government’s Chivo wallet hurting big remittance providers like Moneygram and Western Union? What do you think about Tim Berners-Lee’s assessment of the bitcoin situation in El Salvador? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. At the end of August, the new NFT avatar collection known as SIDUS: NFT Heroes released its first batch of characters – in just 10 minutes, the entire batch had sold out! The release of the remaining characters from the collection is scheduled for September 10th at 4:00 am UTC. The team has also announced that the Rare and Legendary upgrade cards needed to modify an NFT Hero to Rare and Legendary status will be launched on the same day. I Want an NFT Hero – How Do I Get One? The public sale for the remaining NFT Heroes starts on September 10th at 4:00 am UTC, on the NFT Heroes website. The price for 1 NFT Hero is the same as before – 0.055 ETH. The remaining Heroes will come with new features and physical traits. After the whole collection of Original NFT Heroes is minted, users will be able to learn the precise percentage of their Hero’s rarity. On the same day, September 10th, SIDUS will be presenting its Rare and Legendary upgrade cards. The upgrade cards are to be used in the Galaxy Modification process to transform the users’ Heroes to Rare and Legendary status. The higher rarity NFT Heroes will entitle their holders to more benefits in the SIDUS community. The public sale will be preceded with a number of events – a LIVE AMA session with the CEO of the project Dan Khomenko talking about the NFT Heroes roadmap, Hero traits, the Galaxy Modificator and other topics. Live events will be held on Clubhouse and Discord. How the Galaxy Modificator Works and What Benefits the Upgrades Bring NFT Heroes is a collection of 6,000 unique characters: 4,000 original, 1,000 Rare, 500 Legendary and 500 Partnership NFT Heroes. Only the Original Heroes are available for purchase since the rest are created using upgrade cards. To upgrade to the Rare status, a user needs to buy 1 Rare upgrade card and have an Original NFT Hero. To become part of the Legendary squad, the user needs to collect 3 Legendary upgrade cards and have an Original NFT Hero. The total supply of Rare upgrade cards is 1,000, costing 0.1 ETH each. The total supply of Legendary upgrade cards is 1,500 and their price tag is 0.2 ETH per card. Each upgrade card can be used only once. After the modification process, the user ends up with 2 NFTs – their Original NFT Hero and the upgraded, higher status one. Rare and Legendary upgrade cards will be available for purchase from September 10th and the modification process will start later this month. The SIDUS team will announce the exact date and time soon. SIDUS will also soon be launching Galaxy Staking – an NFT yield farming service. For staking NFT Heroes, users will be rewarded with NFTS tokens, which is the native token of the NFT marketplace NFT STARS. These tokens can later be used as an in-game coin. That way, without any additional investment, users will be able to fund their future adventures inside the SIDUS universe. Galaxy Staking will offer three tiers of yield farming: Original, Rare and Legendary. The higher the rarity of the NFT Hero staked, the bigger the reward for its holder will be. This is where the Rare and Legendary status comes into play! Plans for Future Developments to the SIDUS Universe SIDUS: NFT Heroes is a unique NFT project that starts as an NFT avatar collection and unfolds into an NFT universe with a variety of products and services. The project will present its users with multiple earning opportunities besides Galaxy Staking, e.g. royalties, an NFT wrapping feature and eventually a gaming DAO metaverse. In time, each NFT Hero can be transformed into a gaming character in the SIDUS play-to-earn game. NFT Heroes lore leaves a lot of room for imagination and future gaming scenarios. The company behind the collection calls the futuristic SIDUS game – blockchain’s alternative to famous fighting games like Mortal Kombat, Killer Instinct and Jump Force. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

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. Increase in International Investigations of Crypto Platforms According to a report, the move by the FSA happens against the backdrop of a rising number of international investigations into scam crypto trading platforms that have been traced to the island nation. As recently reported by Bitcoin.com News, the Onecoin bitcoin scam became the latest foreign crypto entity to be a target of such an investigation. This after a request for a probe was submitted to the country’s law enforcement. Meanwhile, in the same report, Randolf Samson, who heads the FSA’s anti-money laundering and terrorist financing section, is quoted explaining the rationale behind the regulator’s move. Samson detailed: There are many incorporated companies that are facilitating that activity. The reason why they are using Seychelles is because we do not have a framework that would otherwise discourage them. Cryptocurrency developed quite fast but the laws of many countries are not up to date with this type of activity. Nevertheless, Samson insists that “a risk assessment needs to be carried out to look at the pros and cons” before any final decision is made. Therefore, if the outcome of the so-called risk assessment points to potential benefits for Seychelles, then such trading companies will be licensed, explained Samson. On the other hand, if the incorporation or licensing of cryptocurrency trading platforms “brings too much risks and bad reputations, we will simply prohibit the activity.” Crypto’s Growing Popularity Still, Samson concedes that a decision that results in the prohibition of crypto trading in Seychelles could prove to be an unpopular one. Samson said: “The problem with cryptocurrency, the way things are going, you will have to take a stance as it is popular among a growing number of people and other countries are taking options to regulate this activity.” However, if the policy to license crypto trading businesses is adopted, Seychelles will be forced to take on the responsibility of ensuring that individuals and companies are not involved in illicit activities. In any case, such a policy “will also put Seychelles in line with recent Financial Action Task Force (FATF) amendments made in June 2020,” the report concludes. Should Seychelles license crypto trading platforms that are not based on the island? Tell us what you think in the comments section below. View the full article

Two central bank governors have shared their opinions about bitcoin after the cryptocurrency became legal tender in El Salvador. The governor of the Bank of Mexico sees bitcoin as a high-risk investment and a poor store of value while the governor of Sweden’s central bank, the Riksbank, believes bitcoin could collapse. Central Bankers Continue to Warn About Bitcoin The governors of the Bank of Mexico (Banxico) and Sweden’s central bank, the Riksbank, have shared their views on bitcoin after the cryptocurrency became legal tender in El Salvador. Bank of Mexico Governor Alejandro Diaz de Leon said Thursday that bitcoin is more like a means of barter than fiat money, Reuters reported, adding that he called the cryptocurrency “a high-risk investment and a poor store of value.” The Banxico governor is an economist; he was appointed by Mexico’s president to serve as governor of the central bank until Dec. 31. He was quoted as saying: Whoever receives bitcoin in exchange for a good or service, we believe that is more akin to bartering because that person is exchanging a good for a good, but not really money for a good. “In our times, money has evolved to be fiat money issued by central banks. Bitcoin is more like a dimension of precious metals than daily legal tender,” he continued. His comments suggest that Mexico will not be adopting bitcoin as a national currency as El Salvador did anytime soon. The Salvadoran Bitcoin Law went into effect on Sept. 7 and BTC is now legal tender alongside the U.S. dollar. The Bank of Mexico chief argued that in order for a cryptocurrency to be considered money it must be a reliable payment method. However, he said that cryptocurrencies are very volatile, noting that their values often swing wildly on a daily basis. The Banxico governor elaborated: People will not want their purchasing power, their salary to go up or down 10% from one day to another. You don’t want that volatility for purchasing power. In that sense, it is not a good safeguard of value. Meanwhile, the governor of the Swedish central bank, Stefan Ingves, compared buying and selling bitcoin to trading stamps. Bloomberg reported Thursday that he commented on bitcoin at a banking conference in Stockholm, warning that the cryptocurrency could collapse. Ingves is also an economist. He previously served as Chairman of the Basel Committee and Director of the Monetary and Financial Systems Department at the International Monetary Fund (IMF). He was quoted as saying: Private money usually collapses sooner or later. And sure, you can get rich by trading in bitcoin, but it’s comparable to trading in stamps. The Riksbank governor previously said that bitcoin and other cryptocurrencies are unlikely to escape regulatory oversight as their popularity grows. What do you think about the comments by the two central bankers? Let us know in the comments section below. View the full article

On Wednesday, the stock and cryptocurrency trading platform Robinhood rolled out recurring crypto investments and now customers can purchase as little as $1 in crypto commission-free daily, weekly, biweekly, or monthly. The company’s announcement discusses the strategy of investment called dollar-cost averaging “in order to help smooth out the price swings.” Robinhood Rolls Out Recurring Crypto Purchases The investment platform Robinhood (Nasdaq: HOOD) is now providing customers with the ability to purchase crypto assets in a recurring fashion. This means that customers can purchase a set amount of digital currency ($1 or more) and buy it every day, week after week, every two weeks, or on a monthly basis. Additionally, Robinhood says that clients can “set recurring investments across multiple coins without ever incurring a fee.” “Today we’re rolling out crypto recurring investments, a new feature that allows you to regularly buy your favorite coins, commission-free and with as little as $1 on a daily, weekly, biweekly, or monthly schedule of your choice,” Robinhood’s announcement notes. “Saving is a habit and recurring investments introduce a strategy to grow holdings over time while potentially reducing the impact of market volatility.” The company has become well known in the crypto industry, and following Coinbase’s initial public offering (IPO), Robinhood also went public this year. On June 29, Bitcoin.com News reported on Robinhood’s IPO and how it fell short of expectations. Robinhood is also often associated with dogecoin (DOGE) and crypto-focused armchair sleuths believe Robinhood is the largest DOGE wallet owner. In fact, dogecoin helped Robinhood’s revenue quite a bit in 2021 as reports note that DOGE made up 62% of the company’s cryptocurrency revenue in the second quarter. The latest recurring crypto purchasing feature indicates that Robinhood aims to be a mainstay in the digital currency exchange world. Many other digital currency exchanges like Crypto.com and Coinbase have offered recurring purchases for a while now. Robinhood Insists Competition’s Fees Are Higher Robinhood’s announcement insists that its competitors are charging 4% for every crypto trade and the company’s “mission is to democratize finance for all.” “Fees on other platforms are higher for smaller recurring purchases than they are for a single large one,” Robinhood’s announcement stresses. “While that may make your strategy to regularly invest small dollar amounts more profitable for those companies, it ends up being counterproductive to building long-term wealth. At Robinhood, if you place an order and spend $100 to buy bitcoin, you’ll get $100 worth of bitcoin. Period,” Robinhood’s announcement concludes. Robinhood’s stock HOOD has not been faring well during the last month as it was trading for $56.83 per share on August 9. Today, HOOD is down 29.52% and trading for $40.05 per share on September 9. What do you think about Robinhood adding the recurring crypto purchase feature to the trading platform? Let us know what you think about this subject in the comments section below. View the full article

Dydx, a decentralized exchange, finally unlocked its airdrop rewards for users. Its governance token, dydx, was locked due to airdrop restrictions since the protocol announced its distribution on August 3rd. Since its release the price has skyrocketed, giving some of the more active users on the platform more than $50K worth of dydx. However, some users were unable to reclaim the airdrop due to location restrictions. Dydx Unlocks Airdrop, Price Skyrockets Dydx, a derivatives decentralized exchange, announced yesterday the unlocking of its airdropped governance token, dydx. The platform had airdropped these tokens on August 3, but users had to wait for an initial transfer restriction period to be able to withdraw funds. The token, which will be used as a reward and also as a governance token, experienced a quick appreciation in price. This contributed to the most active users getting more than $50K worth of tokens. The protocol dropped tokens to each one of the users that traded even a dollar on the platform. Anyone depositing funds in the platform before July 26 and doing a trade before August received at least 310 tokens. Power users got more tokens according to their participation. More than 64,000 users received the airdrop, according to Dydx’s data. As a result of the activity from the airdrop, the price of the token skyrocketed to near $16 dollar levels, and at the time of writing, it hovers around $15. Some Users Rejoice, Others Lament Location Users of the protocol quickly took this information to social media, where they expressed their happiness about the airdrop unlock. This is one of the heftiest airdrops to ever happen on the Ethereum network, besides the Uniswap airdrop that happened last year. However, Dydx specified the airdrop would not be distributed to users in the U.S. due to worries about securities laws and possible repercussions. The group’s announcement stated: DYDX is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to receive a distribution of, or transact in DYDX. Trading fee discounts are subject to change at the discretion of dYdX Trading, Inc. This elicited condemnation from Twitter users that would have been able to claim the airdrop otherwise, with some of them putting the blame on the SEC. What do you think about Dydx’s governance token airdrop? Tell us in the comment section below. View the full article

PRESS RELEASE. GoMeat Services (https://gomeat.io) is a digital marketplace connecting consumers with their local specialty (halal/kosher) stores. Since its launch in 2019, GoMeat has processed over 6k orders and garnered over 5k loyal users. GoMeat application and website bring convenience to the doorstep of specialty consumers by providing web-based ordering and same-day delivery options. GoMeat is the first project of its kind serving this $1.7 trillion industry and empowering local specialty stores. Specialty meat refers to any meat prepared following strict guidelines. Any meat slaughtered and prepared according to Islamic principles is called Halal meanwhile the meat prepared according to Jewish guidelines is called Kosher. The same applies to foods and beverages. While specialty meat certainly is a niche but it is a massive one with over 1.8 billion consumers around the world. These consumers are not just restricted to the Middle East as globalization and increased awareness about the hygienic preparation methods have made them quite popular in the past ten years thus leading to a $32+ billion market in North America alone. Despite the presence of over 10,000 specialty meat stores in the US alone, no dedicated delivery service has catered to this group until GoMeat’s launch in 2019. Specialty Industry Problems GoMeat Solutions Over 90% specialty stores do not have the resources to go digital GoMeat provides stores with a tablet (no setup fee), extensive marketing, 12/7 customer support & delivery Specialty food consumers have no dedicated delivery service GoMeat provides fresh same-day delivery, 12/7 customer support, amazing discounts & loyalty program Traditional Specialty meat certification has proven to be costly, inefficient, fraudulent and risky In-app Blockchain-based certifications will keep stores, customers & certification boards notified about a store’s specialty verification Traditional specialty meat supply chain has no traceability in case of contamination or outbreak Blockchain-based distributed ledger will keep track of the meat from the farm to the store to ensure easy accountability and traceability Buying meat from one’s local butcher may seem like a mundane chore but for a specialty consumer, it can mean looking forward to long lines and a chaotic in-store environment. Most of these stores are family-owned businesses that have been passed down through generations and do not possess the resources to go digital. GoMeat’s whitepaper was written all the way back in 2017 and the goal was always blockchain centric but the company wanted to prove their business case first. After 3 years of learning in the market, GoMeat finally launched its pre-ICO on 24th of June which sold out 2 weeks early and reached the soft-cap target within a month. Token Name GoMeat Token Ticker GOMT Chain Hydra Chain Total Supply 5 Million Tokens in ICO 1.75 Million Price $1/GOMT Soft-Cap $250k (already achieved) Hard-Cap $1.5 Million Cap/person 25k GOMT Within 2 months of ICO launch, GoMeat has already sold over 50% of its total ICO supply, with less than 40k GOMT left for tier 1. GoMeat has a lot going for it, on top of an amazing team and experienced founders, the project is the first of its kind in the market with a limited supply and excellent burn economy. With the pre-ICO and tier 1 getting sold out, GoMeat is exploring launching IEO on exchanges for tier 2 and 3. Salient Burn Features: All unsold tokens will be burnt 3% GoMeat revenue will be burnt starting with the quarter following ICO completion. “Meaty Bot” on GoMeat telegram reports the burn and order amount, within a span of over a month, it has already reported a burn of almost 800 GOMT 4% revenue in 2022 and 5% in 2023 will be burnt quarterly Upon hitting $3 Mil in annualized gross volume, an additional 3% will be burnt every quarter An additional 3% will be burnt for every order paid using crypto To reward early investors, GoMeat introduced tier-based bonuses Tier Allocated Tokens Bonus Duration (2021) Tier 1 750k GOMT 15% Bonus 25 Aug – 14 Sep Tier 2 350k GOMT 10% Bonus 20 Days (TBD) Tier 3 250k GOMT 5% Bonus 20 Days (TBD) Hydra “Steaking”: While GOMT itself cannot be staked but it does offer a lucrative staking incentive, exclusively for the ICO buyers. The reward amount is based on the amount invested and how long it has been invested. STEP 1: Buy GOMT using Hydra STEP 2: All collected Hydra gets staked in one wallet for a year STEP 3: Staking rewards are proportionally distributed amongst the participants in the form of GOMT. GoMeat Token is the first project of its kind and has an excellent burn economy and team working hard behind the scenes. Over 60% have sold out and less than a month is left for the end of the ICO. The best time to buy is now (https://gomeat.io/icopanel/) . Get your early bird bonus and earn additional GOMT through the referral program! This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Mastercard, the American multinational financial services corporation, announced the company is dipping further into the digital asset ecosystem by acquiring the blockchain intelligence firm Ciphertrace. The partnership announcement says the firm will help bolster Ciphertrace’s and Mastercard’s cyber security solutions. Mastercard Purchased Ciphertrace for Undisclosed Sum On Thursday, the financial payments giant Mastercard (NYSE: MA) has revealed the company has acquired the blockchain surveillance firm Ciphertrace. The blockchain company is a Menlo Park, California-based cyber security firm that specializes in tracking “more than 900 cryptocurrencies.” Ciphertrace was founded by Stephen Ryan on May 31, 2016, and it has filed a number of patents throughout the years. In mid-May, Ciphertrace reported on cryptocurrency crime moving toward decentralized finance (defi), and during the first week of August, Ciphertrace claimed it had enhanced monero (XMR) tracing capabilities. In the acquisition announcement Ajay Bhalla, president of Cyber and Intelligence at Mastercard, discussed the benefits of digital assets but the payments giant wants to make sure the ecosystem is “trusted and safe.” “Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient,” Bhalla said in a statement on Thursday. Bhalla added: With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and Ciphertrace to do just this. Mastercard’s Entry Into Crypto Gets Deeper Mastercard has been knee-deep in the crypto economy for quite some time and every couple of weeks the company’s interest gets deeper. At the end of July, Mastercard said the company’s card program was being enhanced for crypto trading platforms and wallets. A week later, Mastercard launched an initiative to help bolster cryptocurrency startups. While Ciphertrace announced the enhanced XMR tracing capabilities, that same week Mastercard outlined the firm’s plans for cryptos, stablecoins, and central bank digital currencies (CBDCs). Ciphertrace says the firm’s software helps companies find solutions to “enhance their security and fraud monitoring activities for crypto-related programs.” Dave Jevans, CEO of Ciphertrace, explained that Mastercard and Ciphertrace share a similar vision. “We help companies – whether they are banks or cryptocurrency exchanges, government regulators or law enforcement to keep the crypto economy safe,” Jevans detailed. He further added: Our two companies share this vision to provide security and trust throughout the ecosystem. We are thrilled to join the Mastercard family to scale CipherTrace’s reach across the globe. The Ciphertrace acquisition cost was not disclosed in Mastercard’s announcement. Mastercard also explained that Ciphertrace is one of many investments as the company has invested and partnered with firms like Uphold, Bitpay, and Gemini. What do you think about Mastercard purchasing Ciphertrace? Let us know what you think about this subject in the comments section below. View the full article

The cryptocurrency solana reached another all-time high on September 9 at $213 per coin. The digital currency’s market valuation has swelled significantly, pushing dogecoin from its position in the top ten last week. Today, solana’s crypto market capitalization has managed to surpass XRP’s overall valuation, taking the sixth position in the top ten this week. Solana’s Month-Long Tear Continues Solana has managed to continue its ascent higher and higher as a great majority of the crypto economy coins have faltered in value. On Thursday, solana (SOL) reached an all-time high (ATH) at $213 per unit, and it’s a touch over 5.9% lower than that price point at the time of writing. The higher price has ballooned the crypto asset’s overall market capitalization and for the first time, SOL knocked XRP down a spot in terms of the top ten crypto positions. SOL also knocked DOGE down last week and today, solana’s market cap is hovering around $58.9 billion. Year-to-date, SOL has gained a massive 8,009% and a whopping 417% during the last 30 days. Today, SOL has $14.5 billion in global trade volume and the U.S. dollar is SOL’s top pair capturing 26.32% of all trades. This is followed by tether (USDT) with 21.5% of SOL swaps, bitcoin (BTC) with 18.57% of SOL trades, and BUSD with 14.73% of the market’s pairs. Tether Increases Solana Issuance, $1K SOL Investment Turns Into $138K Out of the $2.22 trillion crypto-economy, solana’s market valuation represents 2.64% of the entirety. The ecosystem surrounding the Solana project has seen a lot of growth as well, as Coin98 Analytics reports tether (USDT) has added a lot of tethers to the Solana chain. “In less than a week, Tether has doubled its token release on Solana, from 390M to 790M,” Coin98 Analytics’ tweeted. Coin98 Analytics data also shows that a $1,000 investment into solana (SOL) a year ago would produce a whopping $138,400 return. Solana has a great number of projects that are tethered to the network like Solfarm, Moonlana, Soluble, Solyar, Hedgehog, Luna Network, Solape, Sol Star, Hydraswap, Spiderswap, Popsicle, Traderdome, Cropperfinance, Kermit Finance, Lumos, Dexlab, Saber, and more. What do you think about solana (SOL) capturing all-time highs this week? Let us know what you think about this subject in the comments section below. View the full article

Seven-time Super Bowl winner Tom Brady and his supermodel wife Gisele Bündchen are featured in a new commercial for cryptocurrency exchange FTX. The company plans to invest $20 million in the ad campaign. Tom Brady and Gisele Bündchen Star in Commercial for FTX Tom Brady and Gisele Bündchen are in a commercial for cryptocurrency exchange FTX. The commercial titled “FTX. You in?” was released by FTX Wednesday. The company’s U.S. affiliate plans to invest $20 million in the campaign, the Wall Street Journal reported, adding that the campaign begins Thursday during the National Football League season kickoff game between Tampa Bay and Dallas. It will run during NFL broadcasts throughout October along with digital advertising components. The commercial opens with Bündchen saying to Brady, “Can I talk to you about something?” After showing him something on her cell phone, she asked, “What do you think? Are you in?” Brady replied: “I’m in. Let’s call everyone.” The pair proceeded to call a bunch of their acquaintances who all said they were in. One person Brady called was a New England Patriots fan who spelled out the benefits of FTX. Brady told him, “I’m getting into crypto with FTX. You in?” The fan replied, “Well, providing it gives 360-degree access to the crypto markets with the ability to trade everything from alts to defi [decentralized finance], I believe I’m in.” He added, “but still hate you.” Brady replied, “Understood.” Brady and Bündchen announced their partnership with FTX in June. The pair took an equity stake in the company each. Brady said at the time, “It’s an incredibly exciting time in the crypto-world and Sam [Bankman-Fried, CEO of FTX] and the revolutionary FTX team continue to open my eyes to the endless possibilities.” Several other celebrities have recently appeared in cryptocurrency commercials. In July, award-winning director Spike Lee directed a commercial for bitcoin ATM operator Coin Cloud. In June, actor and bitcoin investor Neil Patrick Harris appeared in a commercial for another crypto ATM operator, Coinflip. In August, award-winning hip-hop artist Megan Thee Stallion published an educational video titled “Bitcoin for Hotties” in collaboration with Jack Dorsey’s Cash App. What do you think about this commercial for FTX starring Tom Brady and Gisele Bündchen? Let us know in the comments section below. View the full article

PRESS RELEASE. GoCrypto, a solution allowing merchants to accept, store, withdraw and buy cryptocurrencies, announced the integration of Binance Pay into the GoCrypto system giving crypto adopters more options to use crypto as the mainstream means of payment as they are intended to be. The GoCrypto solution, developed by Elly – a fully regulated company, is currently available in 64 countries, and is expanding to new markets as regulations evolve and allow. GoCrypto enables online and brick-and-mortar merchants to accept instant payments with various crypto wallets. The integration of Binance Pay into the GoCrypto payment network enables tens of millions of Binance app users to use 40+ Binance Pay-supported cryptocurrencies at thousands of GoCrypto locations around the world. Elly, the GoCrypto developer, also presented the multichain bridge for its native GoC token, which enables migrations between the SLP protocol on the Bitcoin Cash blockchain and Binance Smart Chain (BSC). Contactless. Borderless. Secure. GoCrypto has already made its home country, Slovenia, the global leader in the number of brick-and-mortar shops and services accepting payments with crypto wallets, showing that it can benefit the retail space and the customer experience tremendously. As Elly’s CEO Dejan Roljic states: “The interest in crypto use is growing daily, and our solution enables crypto adopters to use the currencies as they were intended – as a highly practical means of payment. The connection between our system and the users of Binance will bring crypto usability and adaptability further along. The integration of Binance Pay into the GoCrypto network means instant accessibility of GoCrypto locations to tens of millions of Binance users, and so much more. It is a strong sign of the digital era. Newer, better and faster payment options optimise the merchants’ costs and enhance their cash-flow.” Changpeng “CZ” Zhao, CEO and co-founder at Binance commented: “The ultimate goal of cryptocurrencies is to provide not just an alternative asset class for investors, but to provide alternatives to fiat currencies for everyday purchases. In partnering with GoCrypto, Binance Pay takes a step forwards in helping to bridge the gap between conventional financial systems and the crypto ecosystem making crypto adoption for payments significantly easier.” About Binance Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com About Binance Pay Binance Pay is a contactless, borderless and secure user-to-user cryptocurrency payment feature on the Binance App with more than 40 cryptocurrencies supported. Binance Pay allows users to pay, send and receive crypto payments around the world without incurring any fees. Binance Pay also allows merchant-based transactions, letting users and merchants choose their preferred payment options. GoCrypto, the world’s fastest growing crypto payment network GoCrypto operates as a global payment scheme connecting crypto users, wallets, exchanges, cash register systems, payment solution providers and merchants. It enables merchants with brick-and-mortar or online stores to accept instant crypto payments from different crypto wallets with millions of users and to receive settlement in their local fiat or crypto. GoCrypto is available as a stand-alone solution for online and brick-and-mortar stores, or as a solution within the Elly POS terminal. About GoCrypto token The GoCrypto (GoC) token is a multi-chain utility token issued on the Bitcoin Cash (SLP) blockchain and the Binance Smart Chain (BSC) through the newly “built” GoC Bridge, with Solana (SOL) soon to follow. GoC is integrated into all Elly applications and services, and is used for payments on the GoCrypto platform and in the loyalty program. Contact For more information about GoCrypto and its developer, Elly, please contact us at media@elly.com. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article