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A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository.On Sept. 28, U.S. Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading
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A lot of the day-to-day transactions from crypto investors happen only internally at the handful of major exchanges, recorded by the companies rather than on public blockchains, but this bill would call for regulated repositories to gather the data for each trade of a “digital commodity, digital asset, or digital
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PayPal made major progress toward creating its own blockchain ecosystem by filing a patent application for a nonfungible token (NFT) purchase and transfer system. The application, filed in March and published Sept. 21, describes a means of carrying out transactions with NFTs, both on- and off-chain. The patent application, which is
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“If you're outside of this space, and you're thinking about, ‘How do I bring my video game that's written in C++ to the blockchain?’” Bousfield said, “being able to use the tooling you already know, and have processes for, and have all this talent already hired at your company for,
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New York-based Offchain Labs, the development team behind Arbitrum, a layer-2 scaling solution for Ethereum, has moved 2.679b ARB, worth over $3.7b, on-chain data on Apr. 1 indicates. The ARB transfer to a custodian According to Arkham Intelligence, an analytics firm, the large sum of ARB, making up 27% of the total
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“Merging with Offchain Labs made perfect sense to us as an Ethereum team because we develop software extensively in [the programming language] Go, are fully incentive-aligned with the success of Ethereum, and are focused on shipping quality software for others to use,” Raul Jordan, the co-founder of Prysmatic Labs said
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As reported by local news outlet The Economic Times on Monday, Binance is scheduled to remove off-chain fund transfers with Indian cryptocurrency exchange WazirX on Thursday, although users will still be able to deposit and withdraw balances via the standard withdrawal and deposit process between the two exchanges.Three days prior,
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Following reports of panic among WazirX users at Binance's cessation of off-chain transfers, WazirX's Shetty has said that these services have now been resumed. Source
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