US-based digital payments major Visa, and Metaverse - a new generation online virtual reality space have come together in buying their first crypto asset.
Bitcoin and other leading crypto coins experienced a significant drop in share price after investors began dumping mining equipment as China announced fresh regulations.
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Cryptocurrency’s technical foundations date back to the early 1980s when an American cryptographer named David Chaum invented a “blinding” algorithm that remains central to modern web-based encryption.
Cryptocurrencies work using a technology called blockchain. They are tokens that can be used as a form of payment in exchange for online goods and services. They carry a pre-determined store value of their own, just like any other fiat currency like the US dollar or the Indian rupee. Cryptocurrencies are digitally mined, where very sophisticated computers solve extremely complex computational mathematics problems. Their mining is painstaking, costly and only sporadically rewarding.
The comparison of Binance vs Binance.US ultimately comes down to financial regulations in the United States.
When the spectre of restrictive regulation hovers over the cryptocurrency markets, steep drops invariably occur. If it happens to concern China or the US, brace yourself if you’re an investor—the market never stops trading, and what took months to build can crumble to nothing in an afternoon.
The NYDFS is known for being especially rigorous in its approach to cryptocurrency businesses compared to other state regulators, requiring an exacting review of capital requirements and policies regarding money laundering, fraud, capitalization, consumer protection, and cybersecurity. It's an unpopular approach among many in the crypto industry, some of whom have even opted to pull business out of New York rather than bear the high cost of compliance.
The billionaire founder of Citadel also expressed bewilderment with Elon Musk's decision to ask Twitter if he should sell 10% of his Tesla stake.
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July saw the Met seize a cryptocurrency operation valued at £180million in the UK’s largest cryptocurrency seizure to date.
According to Cointelegraph business editor Sam Bourgi, Bitcoin is viewed by many as the best “hard money” alternative to sovereign currencies and:
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