South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’

According to the latest guidance note issued by the South African banking sector regulator, Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination... Read more »

Bitcoin’s Mining Difficulty Rises for the Second Time in a Row — It’s Now 0.63% Harder to Find a BTC Block

On August 18, 2022, Bitcoin’s mining difficulty increased again after the 1.74% rise two weeks ago on August 4. At block height 749,952 at 7:07 a.m. (EST) the network’s mining difficulty rose... Read more »

British Fintech Revolut Granted Crypto License in Cyprus

U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to... Read more »

Electricity Consumption of Russian Crypto Miners Spikes 20 Times in 5 Years, Research Finds

Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin... Read more »

Uzbekistan Moves to Block Foreign Cryptocurrency Exchanges

Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. A presidential decree obliges citizens and local companies to only use... Read more »

Bit Mining Secures $9.3 Million Registered Direct Offering From Institutional Investors

Bit Mining Limited has announced that it has entered a $9.3 million registered direct offering with specific institutional investors. Bit Mining explained that it aims to use the funds from the offering... Read more »

Colombia Plans to Launch Digital Currency to Reduce Tax Evasion

The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of... Read more »

Indian Finance Minister Asks Crypto Investors to Exercise Caution as Authorities Investigate Exchanges

India’s finance minister has cautioned investors about cryptocurrency as the country’s Enforcement Directorate (ED) investigates a number of crypto exchanges and freezes the assets of some trading platforms. Indian Finance Minister Cautions... Read more »

UN Agency Urges Authorities to Curb Cryptocurrency Expansion in Developing Countries

A United Nations trade body has recommended a set of policy actions to “curb the expansion of cryptocurrencies in developing countries.” The intergovernmental group stressed that if cryptocurrencies become a widespread means... Read more »

Popularity of Crypto Investments Makes Case for Regulations, Australian Securities Watchdog Says

High rates of crypto ownership, with purchases often made on advice from Youtube and Facebook, make “a strong case for regulation,” according to the Australian Securities and Investments Commission. The watchdog backs... Read more »