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Tesla CEO Elon Musk, who has been named Time Magazine’s Person of the Year, says bitcoin is suitable as a store of value while the meme cryptocurrency dogecoin is more suitable for transactions. “Even though it’s created as a silly joke, dogecoin is better suited for transactions,” Musk said. Time Magazine’s
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Wells Fargo and HSBC Bank said on Monday that they will use a blockchain-based product for settling matched foreign exchange transactions.The two banking giants agreed to use a shared settlement ledger to process U.S. dollar, Canadian dollar, pound and euro transactions, with plans to expand the process to other currencies
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More than 80% of all nonfungible token (NFT) transactions were worth less than $10,000 in 2021 according to Chainalysis which categorized them as "retail" in recent research.A Dec. 6 report from blockchain analytics firm Chainalysis titled “The 2021 NFT Market Explained” detailed NFT transaction trends throughout 2021. Researchers at Chainalysis
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The Cardano network remains one of the most stable blockchains in the crypto space. Founded in 2017, the network remains the largest proof of stake network in the industry. It holds the title for the proof of stake network with the highest amount of coins staked, only recently conceding to
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The Indian government has answered three sets of questions in parliament regarding bitcoin transactions, the high-profile bitcoin scam in Karnataka, and the legality of cryptocurrency trading and crypto exchanges in India. Meanwhile, the winter session of parliament has begun and a crypto bill is expected to be taken up during
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“According to some indirect estimates, Russian investors in digital currencies are among the most active on the market,” the report said. Russia is one of the biggest markets for Binance, the world’s largest crypto exchange, and the number of Russian users on other global trading platforms is increasing, according to
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The Ghanaian government’s proposal to introduce a 1.75% levy on digital transactions was recently rejected by a minority of lawmakers who insist the new tax derails efforts to help increase the number of adults that are financially included. The Digital Transactions Tax A minority of lawmakers in the Ghana legislature recently rejected
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With the growing capitalization of the crypto economy, Russians have been making crypto transactions worth billions of dollars a year, data gathered by the Central Bank of Russia shows. Russian residents are some of the most active participants in the crypto market, the regulator has acknowledged. Russians Among Most Active
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The Nigerian startup behind the social payment app for cryptocurrency and fiat, Kurepay, says the Central Bank of Nigeria (CBN)’s current crackdown on crypto entities has forced it to suspend operations in Nigeria. ‘Horrible’ Year for Crypto Adoption According to a report by the Cryptoassetbuyer, this suspension of operations is set to
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Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank of Russia to Charge
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