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Binance CEO Changpeng Zhao (CZ) has addressed the allegations against him by the U.S. Commodity Futures Trading Commission (CFTC). “We do not agree with the characterization of many of the issues alleged in the complaint,” the executive stressed. CZ Responds to CFTC’s Allegations The CEO of cryptocurrency exchange Binance, Changpeng Zhao (CZ), published a blog…
U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose…
Web 3.0’s UI/UX has been a source of concern to many crypto natives for years now. User interface (UI) and user experience (UX) in this context are the features that determine how satisfied users are with the apps they use. In contrast to Web 3.0 dApps, Web 2.0 companies like Google, Alphabet, and Microsoft spend…
Liquid staking is a method of turning illiquid-staked assets into liquid assets. This means that liquid staking gives these assets value while providing the same benefits as staking. The main benefit of liquid staking is that it frees up assets that would have otherwise been locked. However, this benefit comes with some risks. These risks…
The rise of the cryptocurrency industry, alongside the high profits that people can earn through the purchase, trade, and investment of digital currencies have encouraged governments throughout the world to update their taxation policies, in order to take crypto-based profits into account. However, cryptocurrencies are very dynamic, whereas keeping track of all transactions for taxation…
The Bank of England’s plans for a CBDC launch raises concern among UK Tax Reform Council and the broader Bitcoin community. The U.K. Tax Reform Council has launched a campaign against the Bank of England’s plan to introduce a central bank digital currency (CBDC). The non-profit organization warns that such a move could seriously harm…
Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies paid for Brazilian reals on the fly. Brazilians Will…
Machine learning is based on the idea that a system can learn to perform a task without being explicitly programmed. Machine learning has a wide range of applications in the finance, healthcare, marketing and transportation industries. It is used to analyze and process large amounts of data, make predictions, and automate decision-making processes, among other…
The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments. The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program. …
The world’s largest crypto exchange has reportedly admitted that the New York Department of Financial Services has ordered Paxos to stop issuing the Binance USD (BUSD) stablecoin. BUSD is the seventh-largest cryptocurrency, with a market cap of over $16 billion. “Paxos has informed us that they have been directed to cease minting new BUSD by…