bitcoinnews

Iran has ramped up its efforts to become a member of the BRICS group ahead of the economic bloc’s summit. The Iranian deputy foreign minister for economic diplomacy revealed that Iran is actively pursuing opportunities to strengthen its economic ties with BRICS members, noting that it has already established strong relationships with China, Russia, and India. Iran Sees No Obstacles to Join BRICS Mehdi Safari, Iran’s deputy foreign minister for economic diplomacy, said in an interview on Saturday that Iran’s membership in the BRICS economic group has faced no obstacles, Tasmin News Agency reported. Noting that Iran has officially requested to join the BRICS bloc , Safari detailed: We are making efforts so that the members of the economic group, including Brazil, Russia, India, China, and South Africa, will accept Iran’s membership. The Iranian foreign minister and the secretary of Iran’s Supreme National Security Council (SNSC) recently attended BRICS meetings. Safari further di

The U.S. House Financial Services Committee has passed four crypto bills. “Congress is asserting its authority to design a regulatory framework, rather than allowing overzealous federal agencies to fill the gap with enforcement actions,” said the CEO of Blockchain Association. US House Committee Advances 4 Crypto Bills The U.S. House Financial Services Committee passed four digital asset bills last week. Following the passing of the bills, Kristin Smith, CEO of Blockchain Association, tweeted Friday: “This is a result of a coordinated effort to educate + support crypto’s Congressional champions.” The executive continued: This week was a milestone for the American crypto industry, and for the promise of real progress on the path toward a workable regulatory framework in the U.S. The four bills are the Financial Innovation and Technology (FIT) for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act, and the Keep Your Coins Act. T

Danielle DiMartino Booth, holding the dual roles of CEO and chief strategist at QI Research, foresees that the 22-year peak in interest rates set by the Fed is merely a precursor to what’s to come. She anticipates further upheaval within the banking industry. The strategist articulated her belief that we have not yet witnessed the “full damage” wrought by the rate increases and their subsequent impact on the U.S. economy. QI Research’s CEO Analyzes the Fed’s 22-Year Interest Rate Peak This year marked a tumultuous period in the U.S. banking industry, with three of the largest bank failures in American history occurring in just a few short weeks. Then, last Friday, the Kansas banking regulator took action by shuttering Heartland Tri-State Bank. Much like the three aforementioned banks, this financial institution was placed into receivership with the Federal Deposit Insurance Corporation (FDIC). On July 27, 2023, Danielle DiMartino Booth, CEO and chief strategist at QI Research, mad

NFTs represent unique and indivisible items, backed by blockchain technology, certifying their originality, scarcity, and authenticity. Whether it’s digital art, music, videos, virtual real estate, or collectible items, NFTs have become a powerful tool for artists, creators, collectors, and investors alike, unlocking new opportunities and experiences in the digital space. In the dynamic and ever-evolving world of cryptocurrency and NFTs, a groundbreaking project is on the rise, captivating the attention of cabaret club enthusiasts and investors alike. Introducing marumaruNFT, the one-of-a-kind NFT marketplace tailored exclusively for cabaret club hostess and hosts. With its unique approach, marumaruNFT aims to reshape the cabaret industry, open new revenue streams, and create a dynamic ecosystem for its users. Japan – In an exciting announcement, the marumaruNFT team revealed their innovative platform set to launch in August. This groundbreaking marketplace will enable cabaret clubs

An industry organization in Japan has suggested that the government should reform taxation rules for crypto assets and transactions. Its members are convinced that the current tax regulations hinder growth of the Web3 economy in the country and discourage taxpayers from holding and using cryptocurrencies. Japan Government Asked to Amend Tax Laws for Crypto Gains and Transactions The Japan Blockchain Association (JBA) has submitted a request to the government in Tokyo to revise the taxation regime for virtual currencies. The organization led by co-founder and CEO of Japanese crypto exchange Bitflyer, Yuzo Kano, insists that the proposed changes would allow more domestic companies to enter the Web3 sector. The JBA is calling for a review of the taxation system for crypto assets, which it says is hindering the growth of the Web3 business in Japan, as well as for the development of an environment in which citizens can own and use digital assets, the Japanese crypto news outlet Coinpos

According to Cato Institute experts, full dollarization of the Argentine economy helps to protect “ordinary people’s purchasing power” from corrupt politicians and “often subservient—or simply incompetent—central bankers.” The experts said the loss of seigniorage should be seen as “an infinitesimal price to pay for the advantages of dollarization.” Fighting Inflation With Dollarization Argentina should consider dollarizing its economy because this “protects ordinary people’s purchasing power” from corrupt politicians and “often subservient—or simply incompetent—central bankers,” authors of the latest Cato Institute blog post . The authors, Daniel Raisbeck, a policy analyst and the research associate Gabriela Calderon de Burgos, argue that only full dollarization can help Argentina control inflation which currently hovers above 100%. To support their argument, the two experts point to the inflation rates in South America’s three fully dollarized countries which are namely Panama, Ec

A covert cryptocurrency mining operation, suspected of electricity theft, was uncovered in a Marina Square shophouse in Miri, Malaysia. Representatives from the Sarawak police and Sarawak Energy plant revealed that the successful operation was made possible by a tip-off from the public. Malaysia’s Sarawak Energy and Police Uncover Illegal Crypto Mining Camp in Miri The state utility company, Sarawak Energy, and the local police department announced the dismantling of an alleged unauthorized crypto mining camp set up in Miri, Sarawak, Malaysia. Authorities captured roughly 34 application-specific integrated circuit (ASIC) miners and their associated connections. “All the equipment used for the mining operation, including the direct tapping cables and servers, were seized. A police report has been lodged and an investigation is currently underway,” Sarawak Energy stated. Compared to other global regions, electricity rates in Malaysia are relatively low. As such, Sarawak Energy repo

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese yuan, Bolivia is already making payments using the Chinese yuan, and Sazmining announced the launch of mining operations in Paraguay. Argentina to Complete IMF Payments With Chinese Yuan The government of Argentina will complete part of a disbursement to the International Monetary Fund (IMF) using the Chinese yuan. According to sources linked to Economy Minister Sergio Massa, the $3.4 billion that must be settled this July will be made using “CAF funds, with yuan, and other sources of financing.” The Argentine government recently obtained a “bridge loan” from the CAF (the Latam Development Bank) of $1 billion, effectively getting indebted to pay for its outstanding debt with the IMF. If completed, this would not be the first time that Argenti

Representatives Gus Bilirakis and Jan Schakowsky, part of the House Innovation, Data, and Commerce Subcommittee, have sent a letter to Apple requiring information and documents regarding Apple’s iOS Appstore policies on blockchain, non-fungible tokens (NFTs), and distributed ledger technologies. The representatives believe Apple’s policies might “limit innovation and American technology leadership” in these areas. Bilirakis and Schakowsky Inquire About Apple’s Blockchain Policies Representatives Gus Bilirakis and Jan Schakowsky have sent a letter to Tim Cook, CEO of Apple, requiring information about the rules on the iOS App Store regarding emergent technologies such as blockchain, non-fungible tokens (NFTs), and other distributed ledger technologies. In the letter , they express their concern about Apple’s walled garden policies’ effect on the development of apps using these tools, which might hurt innovation from American companies in this area. Furthermore, they also state Apple

The Kenyan data regulator said it is conducting an “assessment of Worldcoin’s practices to ensure compliance with the law.” The data regulator has urged “increased vigilance” by Kenyans who are signing up to receive Worldcoin’s “free money.” Immaculate Kassait warned of the consequences to token recipients and issuers should the data regulator fail to ensure Worldcoin and others’ compliance with the law. Kenya’s Data Protection Laws The Kenyan data regulator, the Office of the Data Protection Commissioner (ODPC), has called for “increased vigilance” by residents seeking to get their hands on Worldcoin’s “free” tokens. In a statement issued via Twitter on July 28, ODPC stated that Worldcoin’s activities in the East African nation are governed by the country’s 2019 Data Protection Act. STATEMENT: @ODPC_KE Calls for Vigilance from the Public as It Engages WorldCoin on Compliance with Data Protection Act, 2019. pic.twitter.com/xoY7uOqcNG — OFFICE OF THE DATA PROTECTION COMMISSIONER

PRESS RELEASE. Road Town, BVI, July 30, 2023 – LBank Exchange, a global digital asset trading platform, will list DBear Coin (DBC) on July 31, 2023. For all users of LBank Exchange, the DBC/ USDT trading pair will be officially available for trading at 6:00 UTC on July 31, 2023. DBear Coin (DBC) is a lifestyle Blockchain-Commerce for the MZ generation, characterized by Web3.0, Metaverse, and customized NFT. All DBC platforms are interconnected like a universe, enabling users to learn, play, and shop. Its native token, DBC, will be listed on LBank Exchange at 6:00 UTC on July 31, 2023, with the goal of expanding its global footprint and supporting the realization of its forward-thinking objectives. Introducing DBear Coin DBear Coin (DBC) is a lifestyle Blockchain-Commerce for the MZ generation, characterized by Web3.0, Metaverse, and customized NFT. All DBC platforms are interconnected like a universe, enabling users to learn, play, and shop. DBC serves as both a membership point

Digital asset exchange Crypto․com has been approved for registration as a crypto service provider in the Netherlands. The regulatory nod comes after a review of its business operations and compliance with the Dutch anti-money laundering legislation, the company pointed out. Trading Platform Crypto․com Adds Another Regulatory Approval in Europe Cryptocurrency exchange Crypto․com has secured an approval for registration with the Dutch central bank as a provider of crypto services in the Netherlands. The confirmation follows a comprehensive review of its compliance with the country’s Money Laundering and Terrorist Financing (Prevention) Act, the company noted in a press release. Crypto․com’s CEO Kris Marszalek described the registration approval from De Nederlandsche Bank ( DNB ) as a significant milestone for the company’s business and a testament to its commitment to compliance. He was also quoted as stating: Collaborating with regulators to responsibly advance the crypto and bloc

PRESS RELEASE. SINGAPORE — 30 July 2023 — TOKEN2049 , Asia’s premier Web3 and crypto conference, announced a slate of prolific title sponsors and headline speakers for its upcoming Singapore edition. With just 50 days to go in the countdown, TOKEN2049 will take place from 13-14 September 2023 at Marina Bay Sands , ahead of the Formula 1 Singapore Grand Prix 2023 race weekend. Heralding a record-breaking repertoire of over 300 exhibitors, TOKEN2049 is set to welcome over 10,000 attendees with over 80 percent coming from overseas, making it the industry’s largest international gathering of the year. Congregating key business leaders from traditional finance and big tech to crypto-native entrepreneurs and builders as well as policy-makers, TOKEN2049 continues to cement its world-class status as the global premier Web3 event. Panels, keynotes, and fireside chats at this year’s TOKEN2049 will address a myriad of topics including the changing global regulatory landscape, the converg

Russia’s deputy prime minister has stated that the topic of a common BRICS currency may still be on the table at the economic bloc’s upcoming leaders’ summit. A total of 69 leaders, including all African heads of state, have already been invited to the August summit where de-dollarization will be among the key topics discussed. Russian Official on BRICS Currency Russian Deputy Prime Minister Alexei Overchuk stated in an interview with Russian news outlet Tass on the sidelines of the second Russia-Africa summit this week that the issue of creating a basket of BRICS currencies may be raised at the economic bloc’s upcoming summit that will take place from Aug. 22-24. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. The Russian official was quoted as saying: The BRICS leaders will hold a meeting soon where they may touch upon the settlement system issue. Perhaps, the idea of creating a basket of currencies based on a certain payment unit will also be discuss

The U.S. House Committee on Financial Services has passed the Keep Your Coins Act of 2023 to protect the self-custody of crypto. “Those attacking self-custody oppose individual freedom. They want someone they control to control your assets,” said Congressman Warren Davidson who introduced the bill. Keep Your Coins Act of 2023 Advances The U.S. House Committee on Financial Services passed the Keep Your Coins Act of 2023 (H.R. 4841) on Thursday. The bill, sponsored by Rep. Warren Davidson (R-OH), “would ensure that consumers are allowed to maintain custody of their digital assets in self-hosted wallets,” ⁦the committee described. Congressman Davidson tweeted Friday: Last night, U.S. House Committee on Financial Services⁩ passed my bill to protect self-custody. Those attacking self-custody oppose individual freedom. They want someone they control to control your assets. Defend Freedom. Keep Your Coins Act of 2023 prohibits federal agencies “from restricting the use of convertible

BRICS member states India and Brazil stand in the way of China’s bid to quickly expand the bloc, unveiled a media report. The two nations have different reasons to have reservations about Beijing’s plan to soon increase the organization’s geopolitical influence while they both seem to want to slow down the enlargement, sources have indicated. India and Brazil Push Back Against China’s Attempt to Expand BRICS, Officials Say Officials familiar with the discussions on the future composition of the BRICS bloc of developing economies have revealed that India and Brazil are pushing back against a Chinese bid to rapidly expand the group, which currently also includes Russia and South Africa. According to a report by Bloomberg, New Delhi and Brasília have raised their objections in preparatory talks for the organization’s upcoming summit in Johannesburg. During the forum on Aug. 22 – 24, the five nations will discuss the induction of new members. China has repeatedly lobbied for expansion

Thirteen years ago to the day, the enigmatic creator of Bitcoin, Satoshi Nakamoto, pronounced a quote that has since reverberated across various contexts. This prominent aphorism: “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry,” was Nakamoto’s curt response to questions surrounding the potential solutions for Bitcoin’s transaction speeds and double spending issues. The 13th Year Anniversary of Nakamoto’s Iconic Quote In the summer of 2010, Satoshi Nakamoto was a palpable presence in the nascent world of digital currency, busily shaping Bitcoin’s path and engaging in lively dialogues online. Within a span of two weeks – from July 2 to July 17, 2010 – Nakamoto found the time to articulate 73 thoughtful responses on specific discussions hosted on the forum bitcointalk.org. It was in this buzzing hub, on July 29, 2010, that Nakamoto memorably posted his now-famous line, “If you don’t believe me or don’t get it, I don’t have time to try to conv

Cryptocurrencies and DeFi have shaken up the world of finance, but the spotlight on Sam Bankman-Fried (SBF), the mysterious FTX founder, has raised serious concerns about how the U.S. government handles financial regulation and fairness. SBF faces some serious accusations like misusing customer funds, market manipulation, insider trading, witness tampering, and money laundering. Some folks think he’s getting special treatment due to his connections and wealth. The following opinion editorial was written by Bitcoin.com’s Business Development Manager Ben Friedman . Double Standards One of the main issues raised is the double standard between powerful folks like SBF and regular Americans like you and me. If any average Joe faced the same charges, they might not have the same cushy treatment during legal proceedings. It raises questions about the impact of connections and money when it comes to justice. Another point of contention is the alleged conflicts of interest between governmen