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Council of the European Union moves forward on two crypto proposals

advertisement The Council of the European Union adopted two proposals for digital assets on Wednesday, aiming to create regulatory frameworks for crypto assets focused on consumer protection and mitigating cyber threats.  Both the Regulation on Markets in Crypto Assets (MiCA) and the Digital Operational Resilience Act (DORA) are part of the Council’s digital finance package. That package also contains the Council’s overall strategy related to crypto asset regulation and a proposal on distributed ledger technology. The intention is to create …

ELI5 the Ethereum Merge

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Coinbase acquires crypto wallet startup BRD

advertisement Crypto exchange Coinbase has acquired the crypto wallet startup BRD, according to a notice from its leadership team. In a letter address to BRD’s customers published on Wednesday, co-founders Adam Traidman and Aaron Voisine said: “Today, we would like to share the news that members of our team will be continuing our mission at Coinbase, where we will work together to bring the power of decentralization to even more users around the globe.” Traidman and Voisine went on to …

Unpacking the Biden administration’s (crypto-friendly) blitz on ransomware

Quick Take The Biden administration’s rollout of its strategy against ransomware managed to get all of the relevant government agencies on the same page. It also went out of its way not to upset the crypto industry, which has reacted vocally to recent threats of a crackdown.  This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block. Source link

‘Mania is just absolutely peaking right now’: TradingView’s Pierce Crosby

Episode 76 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Pierce Crosby, General Manager at TradingView. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] This episode is brought to you by our sponsors Bakkt, Kraken and Masterworks Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began …

‘NFT’ named top word of the year by the dictionary publisher Collins

advertisement Collins, a dictionary publisher founded in 1824 recording over 4.5 billion words, named “NFT,” or ‘non-fungible token,’ as the top word of the for 2021.   “It’s certainly a buzzword we’ve heard over and over again in the past 12 months, in breathless news reports and on social media,” the publisher wrote in a Wednesday blog post, describing it as the intersection between internet and money.  As The Block’s data shows, interest in NFTs exploded in 2021. NFT transaction volume …

More than 1 million ETH has been burned following EIP-1559

advertisement The Ethereum network has now burned over 1 million ETH since the London upgrade that ushered in the fee burning mechanism, according to figures from WatchTheBurn — a website that tracks the transaction fee burning process. At the current price of ether, the total value of the total ETH destroyed so far now stands at over $4.2 billion. In August, the London upgrade introduced Ethereum Improvement Proposal 1559 (EIP-1559) that split transaction fees in two: a base cost and …

Blockchain gaming guild Avocado raises $18 million

Avocado Guild, a blockchain gaming startup similar to a16z-backed Yield Guild Games, has raised $18 million in a Series A funding round. Animoca Brands and QCP Soteria Node (QSN) co-led the round, with Solana Ventures, Three Arrows Capital, Polygon Studios, and others participating. The round brings just the six-month-old Avocado Guild’s valuation to $200 million. This is the startup’s first fundraise, and it is an equity round, its founder and CEO Brendan Wong told The Block. But the investors will …

Bitcoin trades at over 3% discount in India

Bitcoin and other cryptocurrencies are trading at a discount in India after the country’s government listed a crypto bill in Parliament for discussion yesterday. At the time of writing, bitcoin at WazirX is trading at around 40,90,000 Indian rupees (around $54,900) compared to $56,750 on Binance — a difference of over 3%, which is significant. The discount was over 15% last night and earlier this morning on various Indian crypto exchanges, but it appears to be narrowing now. Source: WazirX …

Senate Banking Committee chair seeks answers on stablecoins from Centre, Paxos and more

In November 23 letters seen by The Block, Senator Sherrod Brown is calling on stablecoin operators to open up about their processes. The letter to Circle’s Jeremy Allaire reads: “Consumers’ increased use of stablecoins, and their importance in effecting transactions in digital assets, underscores the need for greater understanding of the basic operation, and limitations, of USDC.” Brown sent similar letters to Coinbase, Gemini, Paxos, TrustToken, Binance.US and Centre. Notably, he did not write to Tether, which issues the largest …