Page 2 - Crytocurrencies

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Top US regulators say cryptocurrency poses financial stability risks

Top regulators on Monday recommended a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesn't imperil US financial stability. Among seven major recommendations, regulators called on Congress to pass legislation that would address the systemic risks caused by the growth of stablecoins, which are a form of cryptocurrency pegged to the price of another financial asset, like the US dollar or gold. Recent volatility in the cryptocurrency market, especially in stablecoins, has made regulators particularly wary about the need for regulation as usage of the digital asset continues to grow. Members of the Financial Stability Oversight Council met on Monday to approve the recommendations of a 125-page report created in response to President Joe Biden's March executive order on digital assets. The report also calls for giving agencies greater regulatory power over cryptocurrencies and digital assets. The oversight council is an interagency group heade

Bitcoin touches lowest level since December 2020 after Fed's 75 bps hike

As of 12 PM (IST), Bitcoin was trading at $18,735, and Ethereum was at $1,272. The total crypto market cap is now nearing $900 billion

Crypto wrap: 'Merge' in focus, inflation figures still key, say experts

Bitcoin, the largest crypto token by market capitalisation, was trading at $21,750 on Friday. On Monday, it had briefly hit the $25,000 mark

Blockchain trilemma: What's next for Ethereum after long-awaited 'Merge'?

The long-awaited software revision, termed the Merge, shifted the blockchain from a so-called proof-of-work system to a more energy efficient proof-of-stake method for securing the network.

7.3% of Indians owned digital currency in 2021, 7th highest in world: UN

Over seven per cent of India's population owns digital currency, according to the UN, which said that the use of cryptocurrency rose globally at an unprecedented rate during the COVID-19 pandemic

Cryptocurrency service Nomad loses $200 million in hack, says report

Cryptocurrency service Nomad has suffered a "chaotic" attack, with hackers draining almost $200 million in digital funds from the company within a few hours.

Crypto world stabilizes after rocky week shakes dollar-pegged stablecoins

Bitcoin, the largest cryptocurrency by market value, last rose 4.85% to $29,925, rebounding from a December 2020-low of $25,400 which it hit on Thursday

Cryptocurrency exchange Coinstore enters India despite pending trade curbs

Coinstore has launched its web and app platform and plans branches in Bangalore, New Delhi and Mumbai

Cryptocurrency is here to stay, says Paytm founder Vijay Shekhar Sharma

Sharma said it is being used in a speculative manner now

WazirX sees 2,648% growth in user sign-ups from tier-II, -III cities

Cryptocurrency exchange WazirX on Wednesday said it has recorded 2,648 per cent growth in user sign-ups from tier-II and -III cities of India

'DeFi' crime hits record high in first 7 months of 2021: CipherTrace

Losses from theft, hacks, and fraud in "decentralized finance" or DeFi, a thriving segment in the cryptocurrency sector, hit an all-time high in the first seven months of the year

Elon Musk asks about converting "large transactions" of Tesla to bitcoin

Elon Musk asked about the possibility of converting "large transactions" of Tesla's balance sheet into bitcoin, according to a Twitter exchange between him and an advocate for the digital currency

Cryptos may outrun other asset classes over 2 yrs; be mindful of the risk

Cryptos have been big gainers in times of trouble. In that sense, cryptos are like gold; havens during uncertainty.

India's first B2B crypto trading exchange 'DigitX' starts operations

DigitX co-founder said, "Crypto today enjoys a high degree of popularity among a certain section of the investor community"

We collect 8 trn threat signals daily, says Microsoft's Ann Johnson

The top cybersecurity expert at the tech giant says that in India, between February 2 and May 2, 2020, Microsoft's detection tools saw 9100 Coronavirus related cybersecurity threats.

No dearth of gold demand, but more trust and awareness needed: WGC survey

Gold is the third-most popular investment choice, with 46% of all global retail investors choosing gold products - next only to saving accounts (78%) and life insurance (54%)

From dollar to e-SDR

Rise of cryptocurrencies has created a unique opportunity for market forces to spearhead a shift toward a truly neutral reserve asset