Blockchain industry raises concerns over EC’s proposed crypto regulations

Backed by players like Ripple and ConsenSys, the INATBA association responds to the EC’s legislative proposals on crypto. Major players in the global cryptocurrency community have addressed the European Commission’s new legislative proposals on digital assets. The International Association for Trusted Blockchain Applications, or INATBA, has released an initial response to the Markets in Crypto-Assets (MiCA) regulations proposed by the EC. The association features major crypto companies like Ripple, ConsenSys, and Iota. In its official response to the EC, the INATBA members expressed the industry’s concerns over the proposed MiCA…

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Preliminary tests suggest Nvidia RTX 3000 series may take AMD’s mining crown

The RTX 3080 is apparently twice as fast as the previous generation. The newly released generation of Nvidia graphics cards, the RTX 3000 series, is generating some buzz among miners as it is expected to be a vast improvement over the previous generations. While the cards were initially speculated to be only a minor upgrade, new information seems to confirm that they could reach hash rates of around 100 Megahashes per second for Ethereum and Ethash mining. This would be more than a two-fold improvement over many of the top-of-the-line…

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China’s Ant Group launches cross-border trade platform to support SMEs

Trusple platform promises to apply blockchain, AI and IoT technology to streamline cross-border trading processes for SMEs. Ant Group, the parent company of Chinese payments giant Alipay, unveiled its new Antchain-based global trade platform for small to medium-sized enterprises, or SMEs on Sep. 25. Going by the moniker of Trusple, the platform is based around a concept of “Trust Made Simple”, and aims to streamline the process of cross-border trading. According to Guofei Jiang, President of Ant Group’s Advanced Technology Business Group: “Trusple was designed to solve problems for SMEs…

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Why centralized exchanges will lead crypto to the future

Will centralized exchanges continue to provide the regulated environments required for digital assets to evolve into the mainstream, or will the future belong to DEXs? Decentralized exchanges are undoubtedly an exciting development in crypto. DEXs facilitate the trading of cryptocurrencies directly between users, without the need for a trusted intermediary. This, in turn, allows users to keep custody of their funds. However, while DEXs have their advantages, they still lack in terms of regulations and scalability, which are key considerations that could determine the future trajectory of the crypto industry.…

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Cross-chain money markets, latest attempt to bring liquidity to DeFi

Cross-chain money markets hope to drive liquidity to DeFi for top-performing assets, but will the concept catch on? Decentralized finance has seen impressive growth throughout 2020. To put this into perspective, a new report from Cointelegraph Consulting shows that the total value locked in DeFi jumped past $6 billion in August while in June, the TVL in DeFi was just over $1 billion, and ultimately stands at $9.4 billion at the time of writing. While impressive, the DeFi space is still in its infancy, and many hurdles must be overcome…

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Chinese govt. official: Gambling gangs use crypto to transfer funds abroad

China faces economic risk as illegal gambling operators move 1 trillion yuan in funds from the country, partially in crypto, says a government official. Illegal gambling and casinos result in the outflow of over a trillion yuan annually (around $146.5 billion) from China, said Liao Jinrong, the director general of the International Cooperation Department under the Chinese Ministry of Public Security.  He said that the operators of the overseas gambling platforms and casinos collect the funds from gamblers using digital currencies, making the investigation into these activities more challenging for…

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New XRP Ledger Foundation gets $6.5 million in donations from Ripple and others

The funds will be used to set up XRP Community Fund and improve XRP Ledger infrastructure The newly established XRP Ledger Foundation has raised $6.5 million from Ripple, Coil, and GateHub. This non-profit and open-organization was been set up with a goal to accelerate the development of the XRP ledger, the blockchain upon which the XRP token runs. All the three platforms that have put up the funds were built upon the XRP Ledger. According to reports, the foundation aims to improve and develop the XRPL infrastructure and promote scalable…

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Decoupling? Bitcoin vs. gold ratio snaps out of 3-year bear market

A long-term downtrend flips to form bullish support as Willy Woo says Bitcoin’s days of tracking traditional markets are numbered. Bitcoin (BTC) may soon “decouple” from traditional assets, says statistician Willy Woo as a key gold relationship breaks out of a long-term downtrend. In a tweet on Sep. 25, Woo forecast that Bitcoin would act like a successful startup in accruing new interest and going its own way. Woo: Breakdown of Bitcoin macro correlation to hit “soon” Adoption, he argued, would follow a classic S-curve pattern, much in the same…

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China’s BSN International integrates support for Tezos network

Global developers can now start building projects on top of Tezos through China’s BSN. China’s government-backed blockchain project, the Blockchain Service Network, has announced the integration of the Tezos blockchain onto its international portal. According to an official announcement on Sept. 24, Tezos has been selected as the “one of the first batch of blockchains” to be integrated into the BSN International — a global platform providing access to public chain services on the BSN. Due to the integration, developers worldwide can now access the Tezos protocol using BSN’s global…

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Russia’s telecom regulator blacklists Binance website

The website of the Binance exchange is still available without additional access tools, platform says crypto funds are safe. Authorities in Russia appear to be going after Binance — the world’s largest cryptocurrency exchange — as its domain is now in the list of prohibited websites in the country. On Sept. 24, Binance officially announced on its Russian Telegram channel that Russian telecom regulator Roskomnadzor has added the website to the register of platforms disseminating prohibited information. According to the announcement, Binance has been placed in the list due to…

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