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12 Jun

Russia and Iran Plan to Stop Supporting the Crypto Mining Industry

By Daniel Zo Russia, Iran, Mining, Crypto, Ban Read Comments

Despite the increased popularity of cryptocurrencies, the mining industry is still struggling in several countries. As part of this article, we will cover two recent developments that have taken place in Russia and Iran.

Russia Planning to Introduce Administrative Penalties for Crypto Miners

With this in mind, recent reports indicate that the Russian State Duma is currently debating whether administrative responsibility should be introduced for the local digital currency mining market. According to Anatoly Aksakov, the chairman of the Duma’s Financial Market Committee: “I note that any operations with cryptocurrency that are contrary to the Russian legislation will be considered illegitimate. This means that mining, organizing issuance, circulation, creating exchange points for these tools will be prohibited. Administrative liability in the form of a fine will be incurred for such actions. We believe that cryptocurrencies created on open blockchains such as bitcoins, ethers, and others are illegitimate tools.”


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09 Jun

Facebook Announces Development of Centralized Cryptocurrency

By Daniel Zo Facebook, Cryptocurrency Read Comments

During the last couple of years, the cryptocurrency market has grown exponentially. Yet, this increase in popularity brought along several new fintech trends, including the emergence of central bank digital currencies (CBDCs), tokens, and now, social media cryptocurrencies.

Recent reports indicate that Facebook has been actively working on its cryptocurrency ambitions for a while. Rumours discussing an internal crypto-related project have first appeared last year, when it was revealed that Facebook was seeking a $1 billion funding for Project Libra, the social network’s digital currency.


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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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06 Apr

Bitcoin Breaks Price Resistance and Moves to $5,200

By Daniel Zo Bitcoin, Price, Cryptocurrency, Whales Read Comments

So far, 2019 hasn’t brought along much price volatility on the cryptocurrency market, but the trend is quickly changing. With this in mind, the bitcoin price recently went through a 19% increase, thus breaking the $4,200 technical barrier. This quickly led to a price growth that managed to hit $5,000 in only a few hours. At the time of writing, Bitcoin is trading at $5,245.

As it often happens, following the price swing, numerous other important cryptocurrencies went through the same change. As such, the XRP, Litecoin and EOS all increased in value. The ether price grew from $137, and is currently trading at approximately $155.

Any price swing of this magnitude begs a simple, yet highly-relevant question – why? So far, several price analysts have shared their opinion on the matter. Before we dwell into the reasoning behind the uptrend, it is important to mention that this is pure speculation, granted bitcoin’s complex marketplace.


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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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21 Dec

The United Kingdom Published The Taxation Framework for Cryptocurrency Users

By Daniel Zo Cryptocurrency, UK, Tax Read Comments

Throughout 2018, most cryptocurrencies were affected by strong volatility, thus leading to reduced investor interest and lower prices. However, the crypto sector is far from being dead, and governments are well-aware of this aspect.

With this in mind, numerous countries have stepped up their regulatory and taxation frameworks for the digital currency market. Recent reports indicate that following public consultation, the U.K Tax Collection Service published their crypto taxation legislation, applicable to private digital asset holders.


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