Cryptocurrencies

Major South Korean Bank Joins the Crypto Custody Business

KB Kookmin Bank, one of the largest banks in South Korea, has partnered with blockchain venture fund, Hashed, and crypto trading platform, Cumberland Korea, to establish “strategic technology cooperation” on the custody of digital assets. The companies belonging to the partnership state that their inception into the crypto custody business is a response to regulatory …

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Nigerian Crypto Activity Has Been On the Rise Since April

Nigeria, the biggest source of Bitcoin (BTC) trading volume in Africa, is apparently one of the fastest-growing crypto markets in the world, according to a new report. According to a new study by major crypto wallet Blockchain.com, Nigeria has seen the largest influx of activity on its wallet app since April 2020. Nigeria shows biggest …

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Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%

A proposal made by the government of Kazakhstan aims to impose a 15% flat-rate tax on crypto mining. The plan would use any funds accumulated through the tax to deal with the COVID-19 crisis in the country. According to Forbes, the Ministry of the Economy hopes to combat COVID-19 by funding countermeasures through the collection …

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Huobi’s COO Thinks Blockchain Regulation Needs to be Better Defined

Robin Zhu, Huobi Global Group’s COO, told Cointelegraph at a China Great Bay Area International Blockchain Week pre-event interview on August 3 that lack of defined regulations and infrastructure services are preventing the mass adoption of blockchain and crypto. Defined regulation and mass adoption  Zhu explained that, in addition to concerns about hacking, users are …

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Russia’s Biggest Bank Considers Launching its Own Stablecoin

Sberbank, a state-owned company and the largest bank in Russia, is considering the possibility of issuing its own token, according to its key executives. Sergey Popov, Director of the transaction business at Sberbank, says that Russia’s banking giant is thinking of issuing its own stablecoin that could be pegged 1:1 to the Russian ruble, local …

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Ripple Q2 2020 Report: XRP Sales Increased 19-Fold

Sales of Ripple’s XRP token in Q2 surged after hitting a low in the first quarter, while the firm’s On-Demand Liquidity network remains popular. According to Ripple’s quarterly report released on August 3, sales of the firm’s XRP token were 18.6 times higher in Q2 2020 compared to Q1. The crypto firm stated XRP sales …

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Russian Government Bans Anonymous Wallet Deposits

The Russian Federation has banned anonymous deposits to online wallets in a move that will affect 10 million users across the country. According to lawmakers, this initiative is supposed to curb illegal activity, such as the financing of terrorism and the illegal drug trade. 10M anonymous wallets are affected Online wallets through services such as …

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Deceived Crypto Investors Launched Their Own Scam to Recoup Losses

Chinese police have reportedly arrested a group of scammers who launched a faux crypto scheme to recoup their losses after being defrauded by a number of different crypto-related cons themselves. According to an article from the Public Information Network Security Supervision Bureau posted on WeChat earlier today, an investor named Yang created a fake investment …

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A General Strategy on How to Select a Crypto Fund, Part 1

Digital assets, as a new asset class, exhibit interesting characteristics that could benefit a diversified portfolio of traditional assets. There are, however, many ways to get exposed to digital assets — passive investment, actively managed, short or long term investing, etc. — and with over 800 funds of all sizes, ranging from passive index to …

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Bitcoin Drama, Ether Rally, Teen Held Over Twitter Hack: Hodler’s Digest, July 27–Aug. 2

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin rallies 13% to break through $11,000 After weeks of …

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