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04 May

Ethereum’s Proof-of-Stake Code to be Finalized in June

By Daniel Zo Ethereum, PoS, Cryptocurrency Read Comments

Since its inception, the Ethereum blockchain has been backed by the Proof-of-Work algorithm, similarly to Bitcoin. Yet, Ethereum’s founder, Vitalik Buterin, has often talked about his plans of ditching PoW, in favour of Proof-of-Stake (PoS), which he believes to be better suited for Ethereum’s purposes.

Now, recent reports indicate that the PoS blockchain code will be finalized sometime in June. The news comes from Justin Drake, a researcher for the Ethereum Foundation, who stated: “I’ve been continuing to fine comb Phase Zero in preparation for the spec freeze which we’re targeting for the 30th of June (…) we’re still very much on track. Still, code simplifications are coming through which is great and the process of fine combing is also for finding final bugs.”


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15 Apr

Pakistan Releases New Regulation for Crypto Firms, and Planning to Launch Centralized Coin

By Daniel Zo Crypto, Pakistan Read Comments

Lately, apart from attempting to regulate the digital currency and blockchain markets, governments throughout the world are actively looking for ways to get a slice of the crypto cake. So far, the effort has mostly taken the shape of central bank-backed digital currencies.

As such, numerous countries have announced commencement of work on their very own CBDC projects. Pakistan represents one of the latest examples, since the State Bank of Pakistan (SBP), has stated that they’re planning to launch a CBDC by the year of 2025.


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14 Mar

Ukraine‘s Central Bank Hosts Pilot Program for National Cryptocurrency

By Marcus Cryptocurrency, Ukraine Read Comments

The increasing popularity of the digital currency market has encouraged central banks throughout the world to consider developing their own centralized digital currencies. This trend is understandable, granted that governments and traditional financial institutions are interested in keeping their control over the financial system.

Recent reports indicate that Ukraine has ramped up development of its central bank-based digital currency (CBDC). In fact, the country’s central bank has already finalized a pilot scheme for the national cryptocurrency, referred to as the e-hryvnia.


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04 Mar

Indian Supreme Court Gives Government 4 Weeks to Publish Crypto Regulation

By Daniel Zo Crypto, India, Regulation Read Comments

During the last two years, the cryptocurrency market has seen an increased number of regulatory efforts from financial institutions throughout the world. In general, most frameworks attempt to limit illegal activities tied to digital currencies, while also establishing a set of guidelines for crypto users. On the other hand, other laws are focused on limiting the use of crypto altogether.

With a population of over 1 billion, it’s no surprise that digital assets have gained quite a bit of popularity in India – especially since a large percentage of the population is unbanked. This has encouraged the government to pursue the adoption of a regulatory framework. Shortly after, the Reserve Bank of India (RBI), released a circular, informing banks that they are no longer permitted to offer financial services to individuals or businesses involved with digital currencies. In other words, the RBI urged banks to sever ties and close the accounts of crypto traders and businesses accepting it as a form of payment.


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26 Feb

The Cryptocurrency Market is Seeing New Price Gains

By Daniel Zo Bitcoin, Ethereum, Crypto, Elon Musk Read Comments

Cryptocurrency investors have certainly had a difficult year, given the fairly stable prices for all popular digital currencies. However, recent market developments are once again adding volatility to the market.

This has led to a bullish trend for Bitcoin, since the cryptocurrency has surpassed the $4,000 threshold. In fact, the price recently saw a $200 growth, bouncing from $3,900 to $4,100. In return, this helped increase bitcoin’s market capitalization to over $70 billion, whereas the entire market’s worth is now situated at over $140 billion.

The recent price volatility has also encouraged price spikes for other cryptocurrencies. As such, Ethereum saw a 6% increase, whereas XRP and Litecoin gained around 5%.


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24 Jan

McAfee Study Shows Increased Prevalence of Crypto Mining Malware

By Daniel Zo McAfee, Crypto, Malware Read Comments

Since the dawn of the internet, people throughout the world have been dealing with computer malware. With time, viruses have become more advanced, and the emergence of digital currencies brought along a new trend – crypto malware.

According to a research study carried out by McAfee, in the year of 2018, instances of mining malware have increased by approximately 4,000%. To put things better into perspective, in the third quarter of 2018, a total of four million mining malware threats have been discovered, which is a significantly higher number when compared to 2017 and 2016, when no more than 500,000 threats were discovered.


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20 Sep

Ukrainian Parliament Bill to Introduce Crypto Profit Taxing

By Daniel Zo Ukraine, Cryptocurrency, Tax Read Comments

Despite the fluctuating crypto price drops present during the last few months, governments are still interested in regulating and profiting off the digital currency revolution.

With this in mind, recent reports indicate that the Ukrainian Parliament is interested in imposing a tax on digital currency-related profits of its citizens. To put things better into perspective, the country’s legislative body has proposed a bill that would impose a 5% tax on all crypto profits attained by both commercial entities and individuals.


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23 Jul

State Bank of Vietnam Decides to Temporarily Ban Crypto Mining Hardware Imports

By Daniel Zo Crypto, Cryptcurrency, Mining, Vietnam Read Comments

According to recent reports, the State Bank of Vietnam, which is also the country’s central bank, announced that it will ban the import of digital currency mining hardware for individuals and companies.

The decision represents the bank’s response to a request filed by the Ministry of Industry and Trade (MoIT). To put things better into perspective, the MoIT has recently suggested a temporary ban that would affect the import of mining hardware. The reasoning behind this is based on the issues concerning the management of currency flows in the region. According to the ministry, the use of mining equipment and cryptocurrencies is making financial management more difficult for the government. So far, mining has not been forbidden, and it is unknown whether the government is considering such a move.


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17 Jun

State of New York Proposes Launch of Digital Currency Task Force

By Daniel Zo NY, New York, USA, Task Force, Cryptocurrency Read Comments

The State of New York has actively pursued cryptocurrency regulation, especially since exchanges operating in the region need to register and be licensed by the city’s financial regulator. Despite this aspect, the New York State Assembly has recently proposed the idea of creating a digital currency task force, meant to examine the crypto and blockchain markets operating locally.

According to a summary of the meeting, if approval is received, the task force will consist of 9 persons, who will write out a report of their findings by December 2019.


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13 Jun

International Monetary Fund Advocates Central Bank Crypto Regulations

By Daniel Zo IMF, Bank, Regulations Read Comments

During the last couple of months, numerous monetary regulatory agencies have turned their eyes towards the digital currency market. Now, reports indicate that the International Monetary Fund is advocating for central banks to introduce regulatory policies, while also encouraging innovation on the fiat market.

Based on this, the deputy director for the Monetary and Capital Markets Department of the IMF has outlined a couple of responses meant to lower the rivalry present between banks and digital currencies. With this in mind, he mentioned that: “Central banks should continue to strive to make fiat currencies better and more stable units of account.” To do so, central banks should introduce measures meant to discourage money laundering and terrorism financing, while also protecting consumers and taxing digital currency transactions.


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