China bans all crypto-related activities, sending Bitcoin down

    China’s regulators banned on all crypto transactions and vowed to root out mining of digital assets, hitting Bitcoin and other major coins and pressuring crypto and blockchain-related stocks. According to Reuters, crypto-related transactions will be considered illicit financial activity, including services provided by off-shore exchanges, the People’s Bank of China said on its website. It…

    Erdogan versus Bitcoin

    After a sweeping ban on the use of cryptocurrencies this April, Turkish President Recep Erdogan is aiming to assert financial control ahead of launching the digital Lira. Although the central bank is not opposed to using digital currency, Erdogan believes the digital Lira faces conflict with cryptocurrencies. During a national youth meeting with representatives from…

    ECB President Christine Lagarde calls cryptocurrencies ‘suspicious’

    Amid a cryptocurrencies price explosion in 2021, European Central Bank (ECB) president Christine Lagarde argued cryptocurrencies aren’t currencies, which should be treated as “highly speculative” and “suspicious.” Speaking on a Bloomberg podcast, Lagarde said: “I think we have to distinguish between cryptos that are those highly speculative, suspicious occasionally, and high intensity in terms of…

    Countries where cryptocurrency is limited or illegal

    The legal status of Bitcoin and other cryptocurrencies differs substantially from country to country, while in some, the status remains undefined or is constantly changing. As more people turn to cryptos as an investment, there are issues manifest as an array of restrictions on their usage. While in the majority of countries, Bitcoin is not…

    Over 60 South Korea’s crypto exchanges will shut down next week

    In South Korea, more than 60 cryptocurrency exchanges must notify their customers about a partial or full suspension of trading by Friday midnight, a week before a new regulation comes into effect. The new regulations require exchanges to register with the Financial Intelligence Unit by 24 September, providing a security certificate from the Internet Security…

    Digital transformation has changed consumer behavior in the UAE

    The level of digital transformation in payments in the UAE has changed consumer behavior, showing the growing appetite for crypto and blockchain, claimed John Hensel, co-founder and CEO of Securrency, an Abu Dhabi-based technology firm. In a survey conducted by The National News two months ago, half of UAE citizens said they plan to use…