Breaking crypto news from the last week (Jan. 1 – 7, 2022): Jan. 1: In India, the director-general GST Intelligence (DGGI) searched around half a dozen offices of cryptocurrency service providers following the 700 million rupees tax evasion from cryptocurrency trade. A local media report has confirmed that major Indian cryptocurrency service providers are…
Arbix Finance, a yield-farming protocol that runs on Binance Smart Chain, has reportedly siphoned user funds in what blockchain security firm CertiK labeled a “rug pull” following its incident analysis. The developments follow a recent report issued by Chainalysis, the blockchain analytics firm, revealing over $7.7 billion was stolen in crypto scams worldwide in 2021,…
Japan’s largest banks are preparing to start testing the digital yen, created by an independent consortium of developers. If the project were to succeed, Japan would become the first to issue a “real” nationwide cryptocurrency “on a voluntary basis.” In Japan, a consortium of the country’s 74 largest companies announced the release and subsequent trials…
Analysts at JPMorgan led by Nikolaos Panigirtzoglou have suggested that Ethereum, the second-largest cryptocurrency by market cap, could see its dominance in the decentralized finance (DeFi) space fade to rivals. According to Bloomberg, the analysts revealed that until the final phase of sharding, which they described as the “most critical” development for scaling Ethereum,…
Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Zach Pandl, the co-head of global foreign exchange, rates, and emerging market strategy for Goldman Sachs, said in a research note to clients. “We think that Bitcoin’s market share will most likely rise over time as a byproduct…
The Electric Coin Company (ECC) has been working on Zcash cryptocurrency for five years and has recently presented a new project roadmap. It contains a plan for the transition from the currently used Proof-of-Work algorithm to Proof-of-Stake, as well as a lot of other interesting developments. A short while ago, on October 28, 2021,…
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