10 Latest Crypto Updates And Development Around the World

  • July 19, 2022
  • Jennifer Moore

The Crypto community has observed significant growth in the past few years. Many countries are adopting new laws, and crypto activities, while some disagree and put bans on crypto payments. Even within the current bear trends, several notable crypto events occurred in the last few weeks. Here are the top global crypto updates from the past week. 

Putin Puts a Ban On The Use of Digital Assets

Russian president Vladimir Putin has signed a bill that states a prohibition on acceptance of digital financial assets in deliberation for services, transfer of goods, and other ways that allow one to speculate goods payment by a digital financial asset other than the ones provided by federal laws. 

Although a report in the early months of 2022 suggested that Russia may start using crypto as a payment to circumvent the limitations affected by the sanctions imposed on them by other countries like the USA. However, the country seems to oppose the idea and plans to ban any form of digital assets as a medium of payment. 

Also Read: Saudi Arabia to Optimize the Future of Crypto With Increasing Investors

Crypto Firm Voyager to Suspend Withdrawals And Trading

Voyager sent out emails to their customer base at the end of June, announcing that the withdrawals that were processed before suspending before, will be processed. The platform delayed trading, withdrawals, and deposits. However, in the first week of July, the firm posted on Twitter assuring the asset values and doing its best to resolve the issue. The firm also confirmed that it holds $35 in cash and $1.3billion in crypto assets. At present, they are trying to provide the best service to their customers in the long term perspective. 

Also Read: HashCash Offers Its White Label Crypto Payment Processor To A Singapore Based Financial Enterprise

Paraguay Senate Approves A Bill That Regulates Crypto Mining and Trading

Last week, Paraguay’s senate authorized an ordinance that legislates a regulatory framework for crypto trading and mining. Although the bill was approved in December, the Chamber of Deputies added modifications to the bill which returned to the higher chamber. Now that both the chambers approved the bill, it will be submitted to the executive branch which can reject or authorize it. The modification made by the Chamber of Deputies recommended the Ministry of Industry and Commerce as the anointed law enforcement authority that will charge the individuals taking up mining services without authorization.

Celsius Owes $439 million From a Lending Firm “EquitiesFirst”

Celsius Networks which applied for bankruptcy faces allegations of owing another owes $439 million from a lending platform named EquitiesFirst. Sources confirm that the lending form is at present repaying five million dollars per month and the total debt is around $361 million in cash and 3765 bitcoins. The obligations are true as per EquitiesFirst. 

South African Reserve Bank Plans to Regulate Cryptocurrencies

Although South African Reserve Bank previously showed no interest in crypto, last week in a webinar, the bank announced its plans to regulate digital currency. Kuban Naidoo, SAR duty governor announced that the bank considers crypto as a financial asset and plans to prepare a regulatory framework. He also asserted that they are closely observing what other huge economies like Singapore, the UK, and Australia are doing regarding the issue and working on the framework. The framework may take more than a year to be prepared, focusing on the crypto environment. 

3ACs Founders Are Hiding From Liquidators

The founder of Three Arrows Capital, a crypto fund based in Singapore, also known as 3AC, is at present hiding after the Chapter 15 bankruptcy. The liquidators asserted that they cannot locate the founder Kyle Livingstone Davies, and Zhu Su. Last week, Martin Glenn, the US bankruptcy judge issued an order that provides 3AC liquidators approval to demand the founder’s court appearance. This was after the founders were not ready to co-operate with the liquidators. However, Zhu Su finally broke the silence stating that the liquidators baited their firm.

Vauld To Suspend Trading And Withdrawals Due to Financial Difficulty

Vauld is a Singapore-based crypto trading and lending platform. The firm announced on Monday that it would postpone trading, and withdrawals due to the ongoing financial stress on the crypto community market. 

Vauld CEO Darshan Bathija posted in his blog that the volatility of the market, and financial challenges among their partners, it is affecting the platform to run seamlessly which has led to huge withdrawals of up to $196 million since the mid of June. After the crash of TerraUSD, the crypto industry has been through a series of shockwaves, which led to huge losses and Vauld is one such victim. 

India Urged G20 to Bring Crypto Under Automatic Exchange of Information

Nirmala Sitharaman, the present Finance Minister of India has discussed Cryptocurrency during the G20 Ministerial Symposium on Tax and Development in Bali, Indonesia. She asserted focusing on tax transparency where significant progress was made using Automatic Exchange of Information using financial accounts. Investigation suggests numerous entity layers are set up by tax evaders to hide the unaccounted belongings. 

The automatic exchange of information helps to provide information to various authorities since the tax evaders are smart to divert their non-registered assets through other investments. Therefore, she summoned the G20 to check the efficiency of the Automatic Exchange of information on other financial assets that are not covered under CRS (Common Reporting Standard) including immovable properties. 

CAR to Distribute 210 million Sango Coins Providing Investors with Citizenship, Real Estate Property, and a Location in the Metaverse

The Central African Republic is by far the only African country to announce bitcoin as a legal tender and plans on starting the sale of its Sango coins from July 25th at a minimum rate of $0.10. The investors must pay $500 in Ethereum or bitcoins. The investors participating in CAR Sango coins defined as the first digital monetary system powered by the bitcoin blockchain have an opportunity to become African citizens. The investor will also get a piece of real estate and a location in the metaverse. 

Security Regulator in Argentina Launches Innovation Hub to Debate on Regulated Crypto Investments

The National Securities Commission which works under the security regulators of Argentina reported taking action to simplify the appearance of new crypto-based investment tools and fintech in the market. The organization inaugurated an innovation hub that links private investors with regulators to help exchange information regarding the needs that the products must have before launching in the market.

Wrapping Up

The collapse of TerraUSD triggered a domino effect aggravating bear trends across the crypto markets. Several crypto exchange platforms and DeFi firms are closing down, due to market volatility and financial difficulties. However, there is still a ray of hope among crypto investors for the coming months. With time, more and more countries are adopting crypto and regulating a framework to control market volatility.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download the Mobile Apps

Contact Us

    Watchlist

    BCH/USD

    BTC/USD

    ETH/USD

    HCX/USD

    XRP/USD

    ETC/USD

    BSV/USD

    LTC/USD

    EOS/USD

    ADA/USD

    BAT/USD

    HBAR/USD

    UBU/USD

    AAVE/USD

    GRT/USD

    YFI/USD

    WBTC/USD

    USDC/USD

    UNI/USD

    TUSD/USD

    SNX/USD

    SHIB/USD

    PAX/USD

    MATIC/USD

    MKR/USD

    ZEC/USD

    FTT/USD

    DOGE/USD

    BTG/USD

    BUSD/USD

    CHZ/USD

    COMP/USD

    DAI/USD

    XLM/USD

    SOL/USD

    XTZ/USD

    DOT/USD

    VTHO/USD

    TRX/USD

    LUNA/USD

    ALGO/USD

    AVAX/USD

    TFUEL/USD

    THETA/USD

    VET/USD

    NEAR/USD

    BCH/BTC

    BTC/BTC

    ETH/BTC

    HCX/BTC

    XRP/BTC

    ETC/BTC

    BSV/BTC

    LTC/BTC

    EOS/BTC

    ADA/BTC

    BAT/BTC

    HBAR/BTC

    UBU/BTC

    AAVE/BTC

    GRT/BTC

    YFI/BTC

    WBTC/BTC

    USDC/BTC

    UNI/BTC

    TUSD/BTC

    SNX/BTC

    SHIB/BTC

    PAX/BTC

    MATIC/BTC

    MKR/BTC

    ZEC/BTC

    FTT/BTC

    DOGE/BTC

    BTG/BTC

    BUSD/BTC

    CHZ/BTC

    COMP/BTC

    DAI/BTC

    XLM/BTC

    SOL/BTC

    XTZ/BTC

    DOT/BTC

    VTHO/BTC

    TRX/BTC

    LUNA/BTC

    ALGO/BTC

    AVAX/BTC

    TFUEL/BTC

    THETA/BTC

    VET/BTC

    NEAR/BTC

    BCH/USDT

    BTC/USDT

    ETH/USDT

    HCX/USDT

    XRP/USDT

    ETC/USDT

    BSV/USDT

    LTC/USDT

    EOS/USDT

    ADA/USDT

    BAT/USDT

    HBAR/USDT

    UBU/USDT

    AAVE/USDT

    GRT/USDT

    YFI/USDT

    WBTC/USDT

    USDC/USDT

    UNI/USDT

    TUSD/USDT

    SNX/USDT

    SHIB/USDT

    PAX/USDT

    MATIC/USDT

    MKR/USDT

    ZEC/USDT

    FTT/USDT

    DOGE/USDT

    BTG/USDT

    BUSD/USDT

    CHZ/USDT

    COMP/USDT

    DAI/USDT

    XLM/USDT

    SOL/USDT

    XTZ/USDT

    DOT/USDT

    VTHO/USDT

    TRX/USDT

    LUNA/USDT

    ALGO/USDT

    AVAX/USDT

    TFUEL/USDT

    THETA/USDT

    VET/USDT

    NEAR/ETH

    BCH/ETH

    BTC/ETH

    ETH/ETH

    HCX/ETH

    XRP/ETH

    ETC/ETH

    BSV/ETH

    LTC/ETH

    EOS/ETH

    ADA/ETH

    BAT/ETH

    HBAR/ETH

    UBU/ETH

    AAVE/ETH

    GRT/ETH

    YFI/ETH

    WBTC/ETH

    USDC/ETH

    UNI/ETH

    TUSD/ETH

    SNX/ETH

    SHIB/ETH

    PAX/ETH

    MATIC/ETH

    MKR/ETH

    ZEC/ETH

    FTT/ETH

    DOGE/ETH

    BTG/ETH

    BUSD/ETH

    CHZ/ETH

    COMP/ETH

    DAI/ETH

    XLM/ETH

    SOL/ETH

    XTZ/ETH

    DOT/ETH

    VTHO/ETH

    TRX/ETH

    LUNA/ETH

    ALGO/ETH

    AVAX/ETH

    TFUEL/ETH

    THETA/ETH

    VET/ETH

    NEAR/ETH

    BCH/HCX

    BTC/HCX

    ETH/HCX

    HCX/HCX

    XRP/HCX

    ETC/HCX

    BSV/HCX

    LTC/HCX

    EOS/HCX

    ADA/HCX

    BAT/HCX

    HBAR/HCX

    UBU/HCX

    AAVE/HCX

    GRT/HCX

    YFI/HCX

    WBTC/HCX

    USDC/HCX

    UNI/HCX

    TUSD/HCX

    SNX/HCX

    SHIB/HCX

    PAX/HCX

    MATIC/HCX

    MKR/HCX

    ZEC/HCX

    FTT/HCX

    DOGE/HCX

    BTG/HCX

    BUSD/HCX

    CHZ/HCX

    COMP/HCX

    DAI/HCX

    XLM/HCX

    SOL/HCX

    XTZ/HCX

    DOT/HCX

    VTHO/HCX

    TRX/HCX

    LUNA/HCX

    ALGO/HCX

    AVAX/HCX

    TFUEL/HCX

    THETA/HCX

    VET/HCX

    NEAR/HCX

    BCH/INR

    BTC/INR

    ETH/INR

    HCX/INR

    XRP/INR

    ETC/INR

    BSV/INR

    LTC/INR

    EOS/INR

    ADA/INR

    BAT/INR

    HBAR/INR

    UBU/INR

    AAVE/INR

    GRT/INR

    YFI/INR

    WBTC/INR

    USDC/INR

    UNI/INR

    TUSD/INR

    SNX/INR

    SHIB/INR

    PAX/INR

    MATIC/INR

    MKR/INR

    ZEC/INR

    FTT/INR

    DOGE/INR

    BTG/INR

    BUSD/INR

    CHZ/INR

    COMP/INR

    DAI/INR

    XLM/INR

    SOL/INR

    XTZ/INR

    DOT/INR

    VTHO/INR

    TRX/INR

    LUNA/INR

    ALGO/INR

    AVAX/INR

    TFUEL/INR

    THETA/INR

    VET/INR

    NEAR/INR

    BCH/AED

    BTC/AED

    ETH/AED

    HCX/AED

    XRP/AED

    ETC/AED

    BSV/AED

    LTC/AED

    EOS/AED

    ADA/AED

    BAT/AED

    HBAR/AED

    UBU/AED

    AAVE/AED

    GRT/AED

    YFI/AED

    WBTC/AED

    USDC/AED

    UNI/AED

    TUSD/AED

    SNX/AED

    SHIB/AED

    PAX/AED

    MATIC/AED

    MKR/AED

    ZEC/AED

    FTT/AED

    DOGE/AED

    BTG/AED

    BUSD/AED

    CHZ/AED

    COMP/AED

    DAI/AED

    XLM/AED

    SOL/AED

    XTZ/AED

    DOT/AED

    VTHO/AED

    TRX/AED

    LUNA/AED

    ALGO/AED

    AVAX/AED

    TFUEL/AED

    THETA/AED

    VET/AED

    NEAR/AED

    BCH/EUR

    BTC/EUR

    ETH/EUR

    HCX/EUR

    XRP/EUR

    ETC/EUR

    BSV/EUR

    LTC/EUR

    EOS/EUR

    ADA/EUR

    BAT/EUR

    HBAR/EUR

    UBU/EUR

    AAVE/EUR

    GRT/EUR

    YFI/EUR

    WBTC/EUR

    USDC/EUR

    UNI/EUR

    TUSD/EUR

    SNX/EUR

    SHIB/EUR

    PAX/EUR

    MATIC/EUR

    MKR/EUR

    ZEC/EUR

    FTT/EUR

    DOGE/EUR

    BTG/EUR

    BUSD/EUR

    CHZ/EUR

    COMP/EUR

    DAI/EUR

    XLM/EUR

    SOL/EUR

    XTZ/EUR

    DOT/EUR

    VTHO/EUR

    TRX/EUR

    LUNA/EUR

    ALGO/EUR

    AVAX/EUR

    TFUEL/EUR

    THETA/EUR

    VET/EUR

    NEAR/EUR

    BCH/SGD

    BTC/SGD

    ETH/SGD

    HCX/SGD

    XRP/SGD

    ETC/SGD

    BSV/SGD

    LTC/SGD

    EOS/SGD

    ADA/SGD

    BAT/SGD

    HBAR/SGD

    UBU/SGD

    AAVE/SGD

    GRT/SGD

    YFI/SGD

    WBTC/SGD

    USDC/SGD

    UNI/SGD

    TUSD/SGD

    SNX/SGD

    SHIB/SGD

    PAX/SGD

    MATIC/SGD

    MKR/SGD

    ZEC/SGD

    FTT/SGD

    DOGE/SGD

    BTG/SGD

    BUSD/SGD

    CHZ/SGD

    COMP/SGD

    DAI/SGD

    XLM/SGD

    SOL/SGD

    XTZ/SGD

    DOT/SGD

    VTHO/SGD

    TRX/SGD

    LUNA/SGD

    ALGO/SGD

    AVAX/SGD

    TFUEL/SGD

    THETA/SGD

    VET/SGD

    NEAR/SGD

    Loading
    +
    Chat Now
    Welcome to Paybito Support