[ad_1] The Nigerian Securities and Exchange Commission (SEC) has launched a new initiative targeted at hastening the registration process of virtual asset service providers (VASP). According to the securities market regulators in the West African nation, this new program which serves as an amendment to existing rules aims to adjust the current regulatory framework to fit the present complexities of the crypto ecosystem. Nigerian SEC Fixes 30-Day Deadline For VASP Registration Back in March, the Nigerian SEC announced several changes to its Rules on Digital Assets Issuance, Offering Platforms, Exchange, and Custody. Notably, the commission then hiked the registration fees…
Author: dfrancis36
[ad_1] USDT, Tether’s digital token pegged to traditional currencies, is leading a quiet revolution in the world of finance. In a landmark development, USDT has surpassed Visa’s average daily transaction volume on the Tron blockchain, underscoring its position as the undisputed leader in the stablecoin space. This surge signifies a growing confidence in stablecoins and their potential to disrupt the financial landscape. Related Reading USDT Flexes Muscles USDT’s dominance is evident. Available on multiple blockchains, it has seen its market cap explode since its inception in 2014. But the recent milestone on Tron, a blockchain known for its lower transaction…
[ad_1] Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the…
[ad_1] US lawmakers continue to call for the release of the detained Binance executive Tigran Gambaryan. The ongoing saga between the crypto exchange and the Nigerian authorities intensified when several US Congress members sent a letter urging the Biden administration to take action. This week, two US representatives visited Gamabaryan in prison during their trip to Nigeria. The politicians shared details about the executive’s alarming condition and urged for his “humanitarian release.” US Lawmakers Continue To Call For Action On Thursday, US representatives French Hill and Chrissy Houlahan called for the immediate liberation of former federal agent Tigran Gambaryan. Gambaryan…
[ad_1] An analyst explained that Bitcoin has historically seen recovery from bearish phases like the one the cryptocurrency is going through. Bitcoin Hash Ribbons Show Miner Capitulation Is Ongoing In a new post on X, analyst Willy Woo has discussed the relevance of the Bitcoin hashrate to the asset’s price recovery. The “hashrate” refers to a measure of the total computing power the miners have currently connected to the network. The trend in this metric can be viewed as a representation of the situation among these chain validators. When the indicator rises, it suggests that miners are finding the chain…
[ad_1] In a positive turn of events, the Shiba Inu burn rate has seen another notable spike. This time around, the activity, meaning the number of addresses participating in the burns, has seen a notable increase and the burned tokens have risen by over 1,100% in one day. Shiba Inu 1,166% Spike In Burn Rate According to Shibburn, the official website for tracking the total amount of SHIB tokens burned each day, the Shiba Inu burn rate has seen a 1,166% spike. This spike is significant as it shows an increased willingness among Shiba Inu investors to burn tokens. In…
[ad_1] Shiba Inu whales are on the move again, sparking speculations on what they expect from the meme coin. One whale, in particular, has caught the attention of the SHIB community following a massive withdrawal from the popular crypto and stock trading exchange Robinhood. Whale Pulls Out Almost $40 Million From Robinhood The Shiba Inu whale transactions that have got tongues wagging were first picked up on June 20 by the on-chain whale tracking platform Whale Alert. According to the report, the whale had removed a total of 2,2 billion SHIB from the exchange, which was worth approximately $40 million…
[ad_1] In a landmark ruling, an Australian man has received a two-year prison term for committing identity theft and fraudulently setting up cryptocurrency exchange accounts. This case, adjudicated at the Melbourne County Court on June 17, underscores the increasing intersection of cybercrime and cryptocurrency in modern financial systems. Cybercrime Meets Severe Penalties The convicted, a 31-year-old from Melbourne, a city in Australia, was involved in using forged documents to create online accounts for trading cryptocurrencies. His apprehension followed a comprehensive probe spearheaded by the Australian Federal Police (AFP), “Operation Stonefish,” which began in August 2022. This operation was initiated in…
[ad_1] According to the latest insight from a CryptoQuant analyst, Bitcoin might be poised for a notable price correction. This possibility of a price correction is based on major Bitcoin metrics such as the Adjusted Spent Output Profit Ratio (ASOPR), signaling a notable implication for Bitcoin’s trajectory. Understanding ASOPR’s Role In Predicting BTC Corrections The ASOPR, a key indicator in the crypto market, measures the profit ratio of spent outputs by comparing the value at which coins were bought to the value at which they were sold. Related Reading According to the CryptoQuant analyst, when this ratio exceeds 1, it…
[ad_1] Bitcoin might be weak at spot rates, sliding roughly 13% from $74,800 amid intense liquidation pressure. Even as prices retract from all-time highs and $66,000 proves to be a mirage, analysts are upbeat about what lies ahead. Most expect the coin to surge towards the all-important psychological line, $100,000, in the coming days or weeks. Bitcoin price trending downward on the daily chart | Source: BTCUSDT on Binance, TradingView A Banking Crisis In The United States? The spike would be accelerated by Bitcoin riding on the “digital gold” narrative that’s quickly gaining traction amid growing concerns about the financial…