India highlights the need for a ‘common approach to regulate the crypto ecosystem’
The need for a common approach to regulate crypto has been highlighted by the Finance Ministry of India in its main economic survey this year which proposes to regulate cryptocurrencies. The Government of India stated that “crypto assets do not strictly pass the test of being self-referenced instruments and financial assets as no internal cash flows exist”.
NFT fantasy game Sorare partners with Premier League for multi-year licensing deal
Sorare, an NFT fantasy game startup based in Paris, has closed a deal with the Premier League, its first soccer division in the United Kingdom, to make the league’s players and teams part of its roster. According to the report, this multi-year agreement includes the payment of hundreds of millions of pounds per year to the league.
Binance and Mastercard Launch Crypto Prepaid Card in Brazil as Part of LATAM Expansion
Major crypto exchange Binance and credit card giant Mastercard are definitely set to expand their services to Brazil and as such they are partnering to launch prepaid crypto-linked cars in Brazil. This cashback is 8% for eligible purchases on Binance Card and supports on-the-fly conversion of 13 currencies for payments at local merchants.
Panamanian crypto bill may get a second wind in the country’s highest court
The fate of the Panamanian cryptocurrency project that was approved by its National Assembly last year now hinges on the decision of the country’s Supreme Court. The approval of the project, which was vetoed by President Laurentino Cortizo, has now gone into the hands of the court after Congress overruled the veto power and stated that those present in the National Assembly have no right to object to the bill. The parameters specifically require ‘adaptation’ that regulate the financial system and the Panamanian monetary model.
Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower, Ahead of Key Week of US Economic Data
Bitcoin fell below $23000 on January 31 and has recorded a decline in recent weeks after hitting a 5-month high. The market has since seen volatility as traders prepare for their economic data from the United States for the day. The Constitution Board will release its consumer confidence report today while the Federal Reserve will hold its policy meeting on Wednesday and Ethereum also moved down today.
Biggest Movers: DOGE Hits 8-Week High as Meme Coin Rally on Tuesday
Dogecoin managed to climb to its 8-week high on January 31 as the price broke out of its key levels on Tuesday. Certainly we can see the meme coin move higher after the release of the latest consumer confidence report in the United States. The Shiba Inu also moved up to start the week recovering from the loss.
Massachusetts-Based BankProv Will End Offering Loans Secured By Cryptocurrency Mining Rigs
Amesbury, Massachusetts-based BankProv, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. During a filing with the Securities and Exchange Commission, Bankprov said it would continue to generate revenue from its digital assets loan portfolio as the company closed the latest loan origination backed by mining equipment. The financial institution’s EX-99.1 earnings filing adds that the portfolio of loans secured by cryptocurrency mining will continue to decline as the bank is no longer originating these types of loans.
Ethereum Will Peak at $2,474 Per Token in 2023, Finder’s Survey of Crypto and Fintech Experts Shows
7 days ago a product comparison website, Finder.com published a forecast report predicting the year-end price of bitcoin for 2023 based on the predictions of several crypto and fintech experts. Following the Bitcoin Radish Prediction report, Finder released another survey focused on Ethereum and ranked it as the second largest cryptocurrency in terms of market capitalization. Researchers believe that Ethereum will peak at $2,474 per coin this year and reach $2,184 per unit at the end of the year.
Metaverse Token Outperforms Top Crypto Assets in 2023, With decentraland’s MANA Leading the Pack
The top two cryptocurrencies bitcoin and Ethereum experienced double-digit gains against the US Dollar during the first month of the new year, while a number of alternative cryptocurrencies saw even greater gains in value, including Decentraland’s Metaverse tokens such as MANA and Sandboxie’s SAND soared 92-150% against the greenback.
82% of millionaires ask about putting crypto in their portfolios, survey shows
Despite being crypto members, 82 percent of millionaires surveyed have talked to their financial advisors about adding cryptocurrencies like the bitcoin legend Ethereum to their portfolios, according to asset management firm Devere Group. The Farm’s chief official said that wealthy investors understand how digital currencies and currencies are the future and also do not like to live in the past. Certainly through the survey we come to know that there is still trust in assets like bitcoin and cryptocurrencies.
Tesla’s SEC Filing Shows Bitcoin Fair Market Value of $191 Million
With the latest filing of electric car company Tesla with the USA Securities and Exchange Commission, we learn that the fair market value of the company’s bitcoin holdings at the end of 2022 was $191 million and in addition billionaire alarmist’s car company reported a loss of $204 million is off. Tesla’s CEO said in the filing that we can increase or decrease our holdings at any time based on business needs and our view of market and environmental conditions.
