news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    Beldex cryptocurrency fact check  in tamil | monero coin | bitcoin |crypto update |crypto scam

    Beldex cryptocurrency fact check in tamil | monero coin | bitcoin |crypto update |crypto scam

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

    The Market On The Edge: Gareth Soloway's Shocking Revelation

    The Market On The Edge: Gareth Soloway's Shocking Revelation

    What Is a Trading Strategy || Guide to Cryptocurrency Trading Strategy for Beginners

    What Is a Trading Strategy || Guide to Cryptocurrency Trading Strategy for Beginners

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    Beldex cryptocurrency fact check  in tamil | monero coin | bitcoin |crypto update |crypto scam

    Beldex cryptocurrency fact check in tamil | monero coin | bitcoin |crypto update |crypto scam

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

    The Market On The Edge: Gareth Soloway's Shocking Revelation

    The Market On The Edge: Gareth Soloway's Shocking Revelation

    What Is a Trading Strategy || Guide to Cryptocurrency Trading Strategy for Beginners

    What Is a Trading Strategy || Guide to Cryptocurrency Trading Strategy for Beginners

No Result
View All Result
news4global
No Result
View All Result
Home Latest news

Last Week [In] Crypto: Ethereum Merge, Crypto Sanctions, Illegal Crypto Mining

August 29, 2022
Reading Time: 5 mins read
0
Last Week [In] Crypto: Ethereum Merge, Crypto Sanctions, Illegal Crypto Mining
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Eyewitnesses describe pain and agony of India train crash

Eyewitnesses describe pain and agony of India train crash

June 3, 2023
India train accident: Modi vows punishments over deadly Odisha crash

India train accident: Modi vows punishments over deadly Odisha crash

June 3, 2023

In the last five months, authorities in Iran have arrested more than 9,000 unlawful crypto mining rigs in Tehran. Be[In]Crypto has gathered some of the most important stories from the past week in the crypto industry, just in case you missed them. 

Don’t forget to subscribe to our newsletter and get the weekly roundups right in your inbox!

Ethereum merge

Ethereum’s (ETH) developers have been expressing concerns about the network’s upcoming ‘Merge,’ a transition from proof-of-work (PoW) to proof-of-stake (PoS) consensus. The merge is set to take place on or around Sept. 15 and will see the ETH network shift from its current decentralized proof of work consensus algorithm to a new proof of stake algorithm.

The co-founder of Ethereum, Vitalik Buterin, has always been an advocate for the PoS protocol. In his blog post from November 2020, he detailed reasons as to why he believes that PoS is a better system than PoW. These include security being more secure “for the same cost,” decentralization, and attacks that make it easier “to recover from.”

Chainlink has taken to the announcement that it is going to support the PoS chain after the Merge. Ethereum is moving from being a network that needs miners to validate transactions, which is an energy-draining procedure, to one where so-called validators “stake” Ethereum tokens with the opportunity to approve transactions instead.

Crypto sanctions

Following numerous attacks on digital currency, governments across the globe have come up with regulations that crypto firms must follow. Reports detail that the $620 million which was pilfered from the Ronin sidechain of Axie Infinity was transferred through illicit crypto mixers.

Private keys were used to withdraw ETH and USD Coin (USDC) from the Ronin sidechain, a crypto bridge that was created to assist Axie Infinity players to swap tokens between blockchains.

On May 6, 2022, the U.S. Treasury Department sanctioned Blender.io after it was revealed that the Bitcoin (BTC) mixing service had been used by North Korean hackers to launder funds for cybercrime. The Treasury Department said the mixer processed $500 million in bitcoin transactions at Axie Infinity when the hack occurred.

In a letter to Treasury Secretary Janet Yellen, Minnesota’s Sixth District Congressman Tom Emmer requested an explanation for what he calls the unprecedented banning of a similar crypto mixer called Tornado Cash.

Growth of NFTs

Non-fungible token (NFT) platforms have recently seen rapid growth in the past few months as users have been showing high interest in buying, selling, and trading these digital assets.

Recently, Nike, one of America’s most famous sports brands, has been discovered to be the world’s largest-paying brand from purchases of NFTs so far this year. The gaming company has topped the list of the most earning brands of digital tokens. The company is leading with sales of $185 million, according to data from Dune Analytics.

Illegal crypto mining

Iran’s government has seized over 9,000 unlawful crypto mining rigs in Tehran in the last five months, with many more expected to be confiscated in other parts of the country.

This development comes after the Iranian government cracked down on crypto mining farms that were using subsidized electricity to power their operations. In some cases, these farms were stealing electricity from state-owned utility companies. According to the Central Bank of Iran (CBI), cryptocurrencies are illegal to purchase or sell in Iran, though it is legal to mine and use them to pay for imports.

The Islamic Republic of Iran has recently made its first import order, worth $10 million, using cryptocurrency, raising concerns about sanctions avoidance. According to the bank chief, those with official authorizations are allowed to mine digital currencies for these types of imports.

Cryptocurrency scams

Crypto scams have been a big problem in the crypto space, with billions of dollars being lost to scammers each year. This has become the main challenge to the investor within the crypto space and also to the government who are trying to control it.

In a report on Aug. 22, the owner of a Bored Ape, purchased for $116,000, fell victim to a scam just two hours after the purchase. The most recent Bored Ape occurrence is only one of several thefts that have taken place throughout August, as the ownership of one of the simian NFTs grows increasingly tenuous.

Scammers have stolen more than $100 million between July 2021 and July 2022. Last year summer, NFT sales increased sharply, which led to an influx of new investors and crypto enthusiasts who were not familiar with the space. Many of these individuals were scammed out of their investments.

Crypto innovations

Samsung is considering launching a cryptocurrency platform of its own next year where the tech giant’s investment firm is planning to launch its own cryptocurrency. The South Korean giant has developed a wallet function for its Galaxy line of smartphones, and a TV that supports NFTs and Cardano (ADA).

In 2023, six more prominent firms will have a crypto trading platform on the exchange, including Mirae Asset Securities. This might attract investors to the cryptocurrency firm because investors will feel more secure when investing in a company with a good reputation. The news of the Samsung cryptocurrency exchange has been welcomed by the crypto community as it will help to legitimize the industry.

Japan to review corporate tax rules

The Japanese government’s Financial Services Agency (FSA) and Ministry of Economy, Trade, and Industry (METI) will examine corporate tax rates for crypto enterprises from 2023. The review will mainly be focusing on the crypto firms that are giving cryptocurrency to raise funds that are used to build businesses.

The new system is considering if companies that own digital tokens will only be taxed if profits are generated when sales are made. The agencies argue that they don’t want to stunt the growth of startups and hinder their work inside Japan by having a double taxation system. In July 2022, crypto advocates in Japan called for tax cuts.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share76Tweet47

Related Posts

Eyewitnesses describe pain and agony of India train crash

Eyewitnesses describe pain and agony of India train crash

by admin
June 3, 2023
0

The train collision in India's Odisha (previously known as Orissa) state on Friday evening is the country's worst this century....

India train accident: Modi vows punishments over deadly Odisha crash

India train accident: Modi vows punishments over deadly Odisha crash

by admin
June 3, 2023
0

At least 288 people were killed in the collision of two passenger trains and a goods train in Odisha.

U.S. Warns China on Nuclear Rivalry and Vows to Keep Patrolling Region

U.S. Warns China on Nuclear Rivalry and Vows to Keep Patrolling Region

by admin
June 3, 2023
0

The United States pressed Beijing on two fronts this weekend, warning both of the near-term risks of military mishaps and...

Modi Arrives at Scene of Deadly Train Crash in Odisha, India

India Train Crash: Up to 260 Dead and 900 Injured in Odisha

by admin
June 3, 2023
0

More than 260 people were killed and hundreds more injured when a passenger train derailed and struck two other trains...

Modi Arrives at Scene of Deadly Train Crash in Odisha, India

Modi Arrives at Scene of Deadly Train Crash in Odisha, India

by admin
June 3, 2023
0

India’s prime minister, Narendra Modi, had been scheduled soon to inaugurate the latest in a series of new high-speed trains...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Eyewitnesses describe pain and agony of India train crash

Eyewitnesses describe pain and agony of India train crash

June 3, 2023
India train accident: Modi vows punishments over deadly Odisha crash

India train accident: Modi vows punishments over deadly Odisha crash

June 3, 2023
U.S. Warns China on Nuclear Rivalry and Vows to Keep Patrolling Region

U.S. Warns China on Nuclear Rivalry and Vows to Keep Patrolling Region

June 3, 2023
Modi Arrives at Scene of Deadly Train Crash in Odisha, India

India Train Crash: Up to 260 Dead and 900 Injured in Odisha

June 3, 2023

Latest News

Eyewitnesses describe pain and agony of India train crash

Eyewitnesses describe pain and agony of India train crash

June 3, 2023
India train accident: Modi vows punishments over deadly Odisha crash

India train accident: Modi vows punishments over deadly Odisha crash

June 3, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global