Mining Blog & Mining News

Mining Blog & Mining News

Chinese Court Says Crypto is ‘Not Protected By Law’

In a landmark ruling that could shake China’s crypto scene, the Supreme Court of the Shandong province has ruled that cryptocurrency “was not protected by law” after deliberating on a case that involves a potential fraud related to the purchase of tokens, as reported by The South China Morning Post. A Chinese plaintiff invested some RMB 70,000 (USD 10,800) to buy tokens endorsed by three of his acquaintances in 2017. Their accounts were allegedly closed after the People’s Bank of China, the coun...
Chinese Court Says Crypto is ‘Not Protected By Law’

Regulators are Coming for the DeFi Goose and Its Golden Eggs

Regulation is becoming a very hot topic in the crypto industry as governments try to understand how they should respond to this still relatively new phenomenon. With United States-based crypto companies now fighting the infrastructure bill battle in the House after a defeat in the Senate, the industry could potentially look very different in a few years, after recently proposed rule changes have been implemented. Various sub-sectors within crypto will likely be affected in different ways by inco...
Regulators are Coming for the DeFi Goose and Its Golden Eggs

Binance Tightening KYC Procedure, The Screaming Sheep NFT + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Crypto exchange Binance has announced they have tightened the customer verification requirements on their platforms, as they extend their response to heightened regulatory scrutiny over recent months. With immediate effect, new customers must supply government ID and pass facial verification to meet "Intermediate" verification for ...
Binance Tightening KYC Procedure, The Screaming Sheep NFT + More News

Bitcoin's Battles: Volatility to 'Drive Investors to Gold', Ethereum to 'Dethrone' It

Bitcoin (BTC) volatility could drive investors back to gold, predicts Jake Klein, Executive Chairman of Australian gold mining company Evolution Mining. In the meantime, the price of ethereum (ETH) could skyrocket and potentially exceed the value of the top cryptocurrency within the next five years, per Nigel Green, CEO and Founder of financial advisory and asset management business deVere Group. Klein told US broadcaster CNBC in an interview that, “I think that the volatility in the crypto spac...
Bitcoin's Battles: Volatility to 'Drive Investors to Gold', Ethereum to 'Dethrone' It

US May Regulate DeFi, El Salvador's Bitcoin Draft Regulations + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Regulation news Decentralized finance (DeFi) projects may still fall under the jurisdiction of the US Securities and Exchange Commission (SEC), the watchdog’s chairman Gary Gensler told The Wall Street Journal. He added that projects that reward participants with valuable digital tokens or similar incentives could cross a line into activity that ...
US May Regulate DeFi, El Salvador's Bitcoin Draft Regulations + More News

New Cryptocurrency to Deploy on Binance Smart Chain for $0.008 on Aug. 20

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Bitcoin Eco (BTCE) to Offer Frequent Mining Awards for Users New York, United States (Aug 19, 2021) – As major cryptocurrency supporters and investors like Elon Musk have expressed their concerns over the impact digital currencies like Bitcoin, Ethereum, and Dogecoin have on the environment, Bitcoin Eco (BTCE) is on a mission to solve this problem by debuting an eco-friendly solution that offers frequent minin...
New Cryptocurrency to Deploy on Binance Smart Chain for $0.008 on Aug. 20

UWM Crypto Payments, Binance in Netherlands, Bitstamp Won't List DOGE + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news US mortgage lender United Wholesale Mortgage (UWM), previously known as United Shore Financial, will start accepting cryptocurrency payments by the end of this year, Detroit Free Press reported. The company’s CEO Mat Ishbia stated in an earnings call that they are hoping to do it “before anyone in the country,” and that they’re look...
UWM Crypto Payments, Binance in Netherlands, Bitstamp Won't List DOGE + More News

90% of Questions by Fidelity’s 'Biggest Clients' Have Been About Bitcoin

The thing that the “biggest clients” of US-based mutual fund giant Fidelity have been the most interested about has been bitcoin (BTC), and though interest in ether (ETH) has been rising, it's not even close to that of BTC, said Christine Sandler, head of sales and marketing for Fidelity Digital Assets. In an interview with news outlet The Boston Globe, as reported by Techtelegraph, Sandler said that BTC is still the key focus for the mutual fund, as more traditional institutional investors ...
90% of Questions by Fidelity’s 'Biggest Clients' Have Been About Bitcoin

Global Crypto Adoption Up 2,300% in Two Years - Chainalysis

Crypto adoption as of the end of the second quarter 2021 has been up by more than 2,300% compared to Q3 2019 on a global basis, and over 881% in the last year, according to a report by blockchain analysis firm Chainalysis. The variations show adoption as a global phenomenon, but the report states that the biggest question is how much this adoption rate will continue on existing platforms, especially compared to new ones that are still emerging. Chainalysis states it used a methodology that allow...
Global Crypto Adoption Up 2,300% in Two Years - Chainalysis

Fitch's Warning for El Salvador, 'Concerning Regulatory Roadmap' + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Regulation news Ratings agency Fitch Ratings warned against the potential negative consequences of El Salvador adopting bitcoin (BTC) to its financial institutions and insurance sector. The country would have to either hold BTC and be exposed to day-to-day volatility, or sell any incoming BTC immediately to the market, which would incur other cos...
Fitch's Warning for El Salvador, 'Concerning Regulatory Roadmap' + More News

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Disclaimer: The text below is a press release that was not written by Cryptonews.com. TimeCoinProtocol is the decentralized sharing economy protocol which aims to optimize world resource usage. Various applications can be built and run on the TimeCoin Protocol including third party applications. The project puts a strong focus on the Gig Economy and Creator Economy. The project has issued an original crypto currency called TimeCoin(TMCN) which is already listed in BitFrorex, BiKi, and BitMart an...
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After one of the most turbulent periods in bitcoin (BTC) mining history, miners have been handed a timely boost – with reports of recovery in hash-rate and signs that some of the BTC miners forced out of Mainland China earlier this summer are resuming their activities elsewhere in the world. According to Glassnode’s latest on-chain report, a “Great Migration” away from China is “continuing,” with miners “transitioning out of China.” But some of these moves now appear to be complete, as “we have ...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news Computing giant Microsoft has done a study of a blockchain-based incentive system to bolster anti-piracy campaigns in a paper, dubbed Argus. Built on the Ethereum (ETH) blockchain, Argus aims to provide a trustless incentive mechanism while protecting data collected from the open anonymous population of piracy reporters.Retail giant...
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Ethereum Classic (ETC) has had as good a bull market as pretty much every other top-50 cryptoassets out there. Long neglected by virtue of its well-documented vulnerability to 51% attacks, it nonetheless outperformed Ethereum (ETH) on various days in May, while enjoying a nearly 2,900% rise in trading volume. It continued to attract attention at the end of June, when it posted an 80% surge in just over a week, and capped off a 200% rise in one quarter. For those who’d grown used to disregarding...
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At the beginning of the week, we saw bitcoin and ethereum rallying, and Axie Infinity has been exploding left and right, hitting major milestones. And then, the historic hack happened with the theft of USD 600m from Poly Network, with the attacker starting to return funds soon, giving back some USD 342m in two days, and the rest a day later. Meanwhile, total global investments in blockchain and cryptoassets surpassed the previous annual ATH reaching USD 8.7bn, Circle said it's on a journey towar...
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Alberto Fernández, the President of Argentina, has made some remarkably bullish comments about crypto, noting that tokens may have the power to fight inflation and operate as “hard currency, somewhat” – although he sought to temper his musings by adding the caveat that he is not particularly well-versed in the world of decentralized digital assets. The comments came during an extended video interview aired on the Caja Negra YouTube page operated by Filo News, and saw Fernández claim that crypto ...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. _ Investments news Crypto tax and accounting software maker TaxBit has raised USD 130m in a Series B round led by venture firms IVP and Insight Partners, which brought its valuation to more than USD 1.3bn, per Bloomberg. Their aim is to simplify tax reporting and offer individuals and institutions tools to track portfolios and trades.Dune Analyti...
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Two of Japan’s biggest crypto business groups have launched a joint bid to persuade the government to revise its crypto tax laws. Japanese law currently stipulates that crypto traders must pay levies of up to 55% on their profits. However, a number of players in the sector – as some opposition MPs – have directly challenged the government to reform the rate of tax, usually drawing relatively evasive responses from the finance ministry. But the new effort from the Japan Cryptoasset Business Assoc...
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Bitcoin (BTC) mining difficulty is expected to go up again in less than a day, following the last adjustment's important increase. The relevance of the previous increase is not so much in the percentage, which was 6%, but the fact that it had broken the second-longest drop streak in Bitcoin's history. Now, the increase streak is about to form. Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, will go up almost 8%, according to the current (08:44 UTC) est...
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Crypto is becoming a big deal in Latin America, where an Argentinian MP has demanded crypto policy answers from the government – while interest in crypto-powered real estate rises in the country. According to Parlamentario, Martín Berhongaray, an MP for the Radical Civic Union Party – the second-largest party in parliament and part of the ruling Together for Change coalition – has challenged the government on crypto mining-related issues. Berhongaray has submitted a request for information on th...
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Disclaimer: The text below is a press release that was not written by Cryptonews.com. Many projects have been carried out on blockchain platforms thanks to the Ethereum infrastructure. However, the vast majority of them are digital initiatives. The CYCE crypto asset is a new concept meant to revolutionize the crypto industry by acting as a model for physical world investments. The platform has been popularized for the last three months and proposes shifting our perspectives in ways that no one...
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The hacker of the decentralized finance (DeFi) interoperability protocol Poly Network, that just lost over USD 600m, first asked the protocol for a multi-signature (multisig) wallet to return the funds - and has started returning it. So far, the hacker returned USD 1.007m, per Polygonscan data. That is a start, but still a long way to go. After seemingly having some fun with messages asking if a community vote should decide on where the stolen funds should go, the attacker wrote "READY TO RETU...
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Disclaimer: The text below is a press release that was not written by Cryptonews.com. In the history of every successful startup, there comes a ‘defining’ moment – a moment when the vision of its founders clashes with the impossible and, against all odds, triumphs by becoming a reality. ADAX, a decentralized exchange (DEX) within the Cardano ecosystem, has just experienced that moment. We are thrilled to demonstrate that, as promised, ADAX’s trustless protocol will enable censorship-resistant t...
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One of the commissioners of the America financial regulator, the Securities and Exchange Commission (SEC), has launched another blistering attack on her own organization after the Poloniex crypto exchange agreed terms on a circa USD 10.4m settlement, claiming that the trading platform would have waited in vain should it have attempted to follow the rules the SEC insists upon. The SEC had served Poloniex with a cease and desist order, claiming that it had illegally operated a trading platform th...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __ Adoption news Venmo said it has launched Cash Back to Crypto, a new way for Venmo Credit Card customers to automatically purchase cryptocurrency from their Venmo account using cashback earned from their card purchases. These purchases will not have any transaction fee associated with the purchase, with a cryptocurrency conversion spread built ...
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The US Senate passed a USD 550bn infrastructure plan with the original crypto tax provision. "Next, the bill goes to the House, which is in recess until September 20. We don't know yet if we'll have a chance to make amendments there," according to Jake Chervinsky, the General Counsel at Compound Finance. A controversial infrastructure bill contains a number of clauses that pertain to crypto players and how they are taxed. As previously reported, most of these pertain to the legal definition of...
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Interoperability protocol Poly Network has confirmed that it has suffered a major exploit - losing at least USD 600.3m of its funds. The protocol announced that it got attacked on Binance Smart Chain (BSC), Ethereum (ETH), and Polygon (MATIC). "We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the [provided] addresses," said Poly Network, providing three addresses to which it says the assets have been transfered. "We will take legal actions and we urg...
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The Bitcoin (BTC) mining industry might want to accelerate its transition to green energy sources and decrease the risks of another regulatory pushback as the world’s top climate scientists have stated that "human influence has warmed the climate at a rate that is unprecedented in at least the last 2000 years." Over the recent months, many governments and individuals have expressed concern over the impact Bitcoin mining has on the world's climate and how it may contribute to climate change. Whil...
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The sun has all but set on hopes of amending the much-maligned American infrastructure bill in the Senate, with combined efforts from two rival groups of senators ultimately coming to naught. Days of negotiations between the Republican senators Pat Toomey, Cynthia Lummis and Rob Portman, as well as the two Democrats Mark Warner and Kyrsten Sinema had resulted in a proposed compromise following days of concerted campaigning from the crypto community. The compromise was derailed when, in a series ...
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