Coinbase unveils its Digital Asset Policy Proposal to spark conversation around comprehensive crypto regulation
On Thursday, cryptocurrency exchange platform Coinbase published its Digital Asset Policy Proposal, a document offering both a justification and conceptual framework for the comprehensive regulation of digital assets in the United States. Coinbase presented the proposal as a product of dozens of meetings with industry participants, policymakers, crypto innovators and academics that the company’s representatives had held in the last several weeks. The firm’s intention is for the proposal to “animate an open and constructive discussion regarding the role of digital assets in our shared economic future” and offer good-faith suggestions on what a sensible approach to crypto regulation might look like.
Kirill Bryanov 15:11
Paris Hilton and Pranksy collections featured by Sotheby's new NFT platform
Prestigious auction house Sotheby’s has launched a new Metaverse themed NFT platform. The platform is dubbed “Sotheby’s Metaverse” and was announced alongside the “Natively Digital 1.2: The Collectors” (ND1.2) auction that will run between Oct. 18 and Oct. 26. The auction consists of 53 lots of tokenized art from the vaults of 19 curators. Welcome to Sotheby's Metaverse. https://t.co/hZvYIkO3xx pic.twitter.com/9Wl9fUwibe
Brian Quarmby 15:04
What will happen if a Bitcoin ETF is approved? Find out on ‘The Market Report’ with Mati Greenspan
Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman on “The Market Report” — which is live right now! Here’s what to expect in this week’s markets news breakdown: After the weekly news round-up, Mati Greenspan, founder and CEO of Quantum Economics, joins to talk about how more institutions are getting involved in Bitcoin, the approval of a Bitcoin exchange-traded fund (ETF), regulations and how crypto might help ease wealth inequality. Using insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market, the Cointelegraph experts identify two altcoins that stood out this week: TomoChain‘s TOMO and Stacks’ STX coins.
SEC likely to allow Bitcoin futures ETF to trade next week: Reports
The long wait for a Bitcoin exchange-traded product could soon be over according to sources reported by financial media giant Bloomberg. Citing “people familiar with the matter” Bloomberg has reported that the U.S. Securities and Exchange Commission is poised to approve the first Bitcoin futures exchange-traded funds in the country. The anonymous sources said:
Martin Young 14:47
Canadian city plans to supply residents’ heat using Bitcoin mining
MintGreen, a Canada-based cleantech cryptocurrency miner, will be partnering with the Lonsdale Energy Corporation to supply heat to residents of North Vancouver in British Columbia starting in 2022. In a Thursday announcement, MintGreen said its “digital boilers” — which it claims can recover more than 96% of the electricity used for Bitcoin (BTC) mining — will prevent 20,000 metric tons of greenhouse gases per megawatt from entering the atmosphere during its arrangement with North Vancouver. The recovered energy will be used to heat 100 residential and commercial buildings in the Canadian city with a population of roughly 155,000. Colin Sullivan, the CEO of MintGreen, said the partnership was aimed at tackling issues related to climate change. According to a December 2020 report from the Global Alliance for Buildings and Construction, building operations and their construction accounted for roughly 38% of carbon dioxide emissions in urban areas.
Turner Wright 14:41
ASIC targets pump and dump Telegram groups
The Australian Securities and Investments Commission (ASIC) is going after pump and dump groups on Telegram. On Monday an account under the name “ASIC” posted a message in the “ASX Pump Organization” on Telegram to warn around 300 members of the group that “we’re monitoring this platform and we may be investigating you.”: Many of the group’s members assumed the account to be fake, however ASIC confirmed the validity of the now-deleted message to The Australian newspaper.
Brian Quarmby 14:31
Too early to talk about using crypto for oil trading, says Putin
Russian President Vladimir Putin believes that it’s “still premature” to use cryptocurrencies for settling trades of energy resources such as oil. The Russian president discussed potential use cases of cryptocurrencies in a Thursday CNBC interview following a plenary session of the Russian Energy Week forum. According to a full interview text published on the Kremlin’s official website, Putin said that private cryptocurrencies “can act as a unit of account,” but they are “very unstable.”
Helen Partz 14:29
Report: Driven by DeFi, North America’s crypto volume increased 1,000% year-over-year
Digital analytics firm Chainalysis reported that the growth in North America’s crypto market has been driven by the rise in popularity of decentralized finance. In its 2021 Geography of Cryptocurrency Report, Chainalysis said the monthly crypto transaction volume across North America grew by more than 1,000% from July 2020 to June 2021. The monthly volume reached a peak of $164 billion in May 2021 before dipping to just over $100 billion in June. According to the report, decentralized finance, or DeFi, was largely responsible for North America continuing to maintain its position as one of the largest crypto markets worldwide. DeFi transactions represented 37% of North America’s overall transaction volume from July 2020 to June 2021, with residents sending roughly $276 billion in crypto to platforms in the DeFi space.
Turner Wright 14:27
TradingView completes new funding round with $3B valuation
TradingView, the price charting platform used as a reference for price movements of cryptocurrencies and other assets, has secured $298 million in a funding round to attain a $3-billion valuation. Led by TradingView’s new investor, Tiger Global, the funding follows a strong growth of the platform’s user base, mostly retail investors, during the pandemic. According to the announcement, TradingView experienced a 400% increase in new accounts and a 237% increase in visitors in the last 18 months. TradingView CEO and co-founder Denis Globa highlighted Tiger Global’s expertise in fintech, adding that the partnership would contribute to informed financial trading.
Erhan Kahraman 14:24
Aurora raises $12M in debut funding to scale Ethereum ecosystem
Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has announced a $12-million debut funding round. The round included over 100 venture capital investors, including Pantera Capital and Electric Capital. According to an official statement, Aurora will use the funds to expand cross-chain capabilities beyond its current offering, in addition to hiring specialist developers to support the growth of Ethereum scaling.
Tom Farren 14:22
Uniswap taps former Obama campaign spokesperson to handle comms
Decentralized exchange Uniswap has been making some interesting hires, the latest being a communications expert with close ties to the U.S. Democrat party. Former senior spokesperson for Barack Obama, Hari Sevugan, has joined the Uniswap Labs team according to protocol founder Hayden Adams who welcomed him aboard on Oct. 14. The hire may be part of the team’s ongoing effort to prepare for stormy regulatory weather ahead in the United States.
Martin Young 14:20
Mexico's president rules out accepting crypto as legal tender
President of Mexico Andrés Manuel López Obrador said the country was unlikely to follow in El Salvador’s footsteps by adopting cryptocurrencies like Bitcoin as legal tender alongside fiat. In a Thursday press conference, Obrador, also known as AMLO, said Mexico “must maintain orthodoxy” in its financial management and would not be changing its position on crypto. The Bank of Mexico and the National Banking and Securities Commission issued a statement in June warning that financial institutions were “not authorized to carry out and offer to the public operations with virtual assets,” but the president has not often spoken directly on the subject. AMLO was responding to a reporter who asked if Mexico would consider following the example of El Salvador, where Bitcoin (BTC) has been accepted as legal tender since September. He added that though there were many innovations in finance, Mexico should also be mindful of issues surrounding tax evasion.
Turner Wright 14:17
Russia considers new energy tariffs as Chinese crypto miners relocate
The Russian Ministry of Energy is looking to introduce special electricity tariffs for cryptocurrency miners following a migration of the industry into the country from nearby China. Russian Energy Minister Nikolai Shulginov announced Wednesday that the authority is working on a new framework to differentiate tariffs between general usage and cryptocurrency mining, local news agency RBC reported on Wednesday. Shulginov said that cryptocurrency miners in Russia should not consume electricity at residential tariffs, stating:
Helen Partz 14:15
Bitwise applies for 'actual' Bitcoin ETF with NYSE Arca
After almost two years, Bitwise Asset Management has once again applied with the United States Securities and Exchange Commission to create a Bitcoin exchange-traded fund (ETF). In a Thursday Twitter announcement from Bitwise chief investment officer Matt Hougan, the investment firm will be pursuing a Bitcoin (BTC) ETF with NYSE Arca that holds “actual BTC,” and not derivatives or other indirect exposure to cryptocurrencies. According to Hougan, the Bitwise team has spent more than two years analyzing the firm’s ability to “surveil and enforce” any attempts at manipulation and concluded that the Chicago Mercantile Exchange, or CME, is a “regulated market of significant size” for the crypto market. “The market has matured,” said the Bitwise CIO. “An actual BTC ETF can now be approved.”
Turner Wright 14:10
Binance continues push to become regulated crypto exchange with new hire
Crypto exchange giant Binance has hired Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory liaison officer. According to an announcement issued on Thursday, Binance stated that McGinness will contribute to the company’s push toward better relations with regulatory bodies across the globe. Indeed, McGinness is the latest Binance hire with expertise in regulatory compliance and engagement with financial regulators.
Osato Avan-Nomayo 14:06
Ethereum network's hashrate is 702,838.12 GH/s，mining difficulty is 9,623.65T
According to data from eth.btc.com，ethereum network's hashrate is702,838.12 GH/s，mining difficulty is9,623.65T. ETH's price ：$ 3,752.87 Avg Gas Price：279.00Gwei Pending Txs ：142558
UK Gambling Commission opens inquiry into fantasy NFT soccer game Sorare
The Gambling Commission in the UK has opened an inquiry into Sorare, a popular NFT fantasy soccer game that raised $680M in a funding round last month However Sorare — which closed a $680 million funding round for its NFT trading card platform in September — denied it was involved in anything approaching “regulated gambling”. “We are very confident Sorare does not offer any forms of regulated gambling. This has been confirmed by expert legal opinions at every stage since the company was founded, including during a number of fundraising rounds,” it said on the company blog.
Despina Karpathiou 15:43
Bitcoin miner Stronghold will list almost 6M shares in its $100M IPO
U.S. Bitcoin mining company Stronghold Digital Mining will list almost six million shares in an initial public offering on the Nasdaq. Stronghold plans to list 5,882,352 Class A common stock shares priced between $16 and $18 under the ticker “SDIG”. Taking the average proposed offering price puts the IPO at around $100 million. The Kennerdell, Pennsylvania-based firm first filed with the Securities and Exchange Commission for a Nasdaq IPO in July. It will fund an almost 900% expansion in capacity in the coming year. The final prospectus has already been filed with the SEC, but it has yet to become effective.
Martin Young 15:34
Bitcoin rewards triggered shopping frenzy for cardholders: BlockFi data
Bitcoin (BTC) turned out to be a far more attractive prize than airline miles or other cashback rewards, new data from BlockFi suggests. It’s been three months since the New York-based crypto loans startup launched its Visa-backed Bitcoin rewards credit cards, BlockFi Rewards Visa Signature Credit Card, to customers. The card offers rewards in Bitcoin instead of using a more traditional points system. According to the company, if the average Bitcoin rewards card owner continues the shopping habit seen in these first three months, they'll be on track to spend more than $30,000 per year on average. This is almost six times the average of $5,111 per cardholder in the United States.
Erhan Kahraman 15:31
BoE deputy gov: Regulators should pursue crypto as a ‘matter of urgency’
Jon Cunliffe, deputy governor for financial stability at the Bank of England, said the risks of a growing crypto market on the financial system are “relatively limited” at the moment but have the potential to grow very rapidly if regulators do not keep pace. In a speech to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on Oct. 13, Cunliffe said policymakers around the world have only just started to develop the framework needed to properly regulate digital assets but should pursue it “as a matter of urgency.” The deputy governor spoke about the risks that cryptocurrencies and stablecoins may pose when connected to traditional financial systems through individuals, financial institutions, hedge funds and banks. Given that digital assets are continuing to work their way into these institutions, sentiment over crypto volatility and otherwise could cause “investors to sell other assets that are judged to be risky.” Cunliffe referred to the interconnectedness of crypto and traditional finance as having the potential for a shock “transmitted through the financial system” if something were to go wrong.
Turner Wright 15:24