News - Page 35

Turkey is taking significant steps to revamp its cryptocurrency regulations in order to persuade the Financial Action Task Force (FATF) to remove it from the 'grey list'. The FATF recently reported that Turkey is fully compliant with 39 out of the 40 standards established by the international financial watchdog, with the only area of concern being crypto-assets.

Vitalik Buterin, the co-founder of Ethereum, recently transferred 100 Ethereum (ETH) coins to Coinbase, sparking curiosity within the crypto community. This move, valued at approximately $181,000 on November 1, has left many wondering about its implications.

Amir Bruno Elmaani, the founder of the cryptocurrency scheme Oyster Protocol, has been sentenced to four years in prison for tax evasion. This landmark case highlights the legal consequences faced by individuals in the crypto industry who fail to fulfill their tax obligations.

A trader who accurately predicted the bottom of Bitcoin's 2018 bear market believes that the cryptocurrency is on the verge of another significant upward movement. The trader, known as Bluntz, has a large following on the social media platform X and has identified a bullish pennant pattern in Bitcoin's current consolidation phase.

Name.com has confirmed that the domains are now routed back to their proper DNS under our control. They have assured us that they will provide us with information about the cause of the incident once they complete their full investigation tomorrow.

The crypto prices today have started the month on a positive note, continuing the rally from October. This upward momentum is in line with the "Uptober" sentiment that is typically observed in the digital asset space. The crypto market fear and greed index currently stands at 72, indicating a "greed" scenario in the market.

The XRP price has increased by 3% in the last 24 hours, reaching $0.60 and pushing its market cap to $31.7 billion. On-chain data reveals that this price surge is accompanied by a rise in whale participation. According to Santiment, the number of wallets holding at least 10,000 XRP has reached an all-time high of 277,620. This surge in price and whale activity suggests a positive outlook for XRP.

Ripple's native cryptocurrency XRP has maintained stability around the current level of $0.59, following the recent upsurge in the crypto market. Analysts expect a positive outcome for XRP going into November 2023.

Top Republican lawmakers are demanding that the U.S. Securities and Exchange Commission's (SEC) April 2022 rule on crypto accounting be blocked. They argue that the rule, known as Staff Accounting Bulletin (SAB) 121, is harmful and prevents companies from revealing their crypto asset balances.

A crypto strategist warns that Dogecoin (DOGE) may experience a deep pullback after failing to break through a key resistance level. The pseudonymous analyst, Rekt Capital, notes that Dogecoin respected its multi-month diagonal resistance last week, indicating a potential fall to its support at around $0.053. The recent weekly close below the channel top resistance suggests that the DOGE breakout is postponed, with previous similar closes resulting in downside movement. However, if DOGE can hold its highs and reclaim the channel top as support, there may still be a chance for an upward move. On the weekly chart, DOGE needs to convert the $0.07 resistance into support to confirm the channel breakout. At the time of writing, DOGE is trading at $0.0697.

The Financial Conduct Authority (FCA), the regulatory body responsible for overseeing financial markets and financial services firms in the United Kingdom, has issued a warning to UK customers regarding the crypto exchange Bitfinex. In a press release, the FCA states that Bitfinex may be promoting financial services or products without the necessary authorization or approval from the FCA. As a result, the FCA advises customers to avoid doing business with Bitfinex.

The judge ruled that the jury should find Bankman-Fried guilty of one count of wire fraud if there was either misrepresentation or misappropriation in how he marketed FTX to customers. This ruling is an early win for the prosecution.

The Biden administration has recently issued an ambitious order aimed at regulating artificial intelligence (AI). This order is an attempt to address the concerns and aspirations of various stakeholders, including tech CEOs and civil rights advocates. However, it is important to recognize the limitations of the White House's power in implementing this vision. The execution of the Biden administration's plan will heavily rely on the actions taken by executive branch agencies, which may face legal challenges. Additionally, the legislative branch is also actively working on its own plans for regulating AI.

Exchange-Traded Funds (ETFs) have the potential to revolutionize the accessibility of bitcoin investments. Unlike the cryptocurrency itself or existing bitcoin investment products, such as the Grayscale Bitcoin Trust (GBTC), ETFs offer a simpler and more convenient option for the average investor.

According to a recent projection by global asset management firm Bernstein, Bitcoin (BTC) price is expected to reach $150,000 levels in the 2024 to 2027 cycle.

Siemens, a powerhouse in technology, and Microsoft, a global software leader, have joined forces to create something phenomenal. The Siemens Industrial Copilot, a generative AI assistant, is now set to transform the professional world across various sectors.