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Kuwait has banned the use of cryptocurrencies and virtual assets. Top regulators in the country issued a joint address via a circular. The circular explicitly banned the use of virtual assets as a means of payment. Regulatory authorities in Kuwait have banned the use of cryptocurrencies and virtual assets. The country’s top regulators issued a joint address via a circular. They warned the citizens of Kuwait against the risks of engaging in cryptocurrency activities. The circular explicitly banned the use of virtual assets as a means of payment and prohibited any transactions involving cryptocurrencies for payment. Kuwait’s crypto ban follows guidance included in recommendations published by the Financial Action Task Force watchdog for combating money laundering and the financing of terrorism. Several regulatory institutions came together to enforce the ban. They include the Central Bank of Kuwait, the Capital Markets Authority, the Ministry of Commerce and In...

Because of accounting regulations that don’t allow unrealized gains on cryptocurrencies to be recorded, the value of the holdings stayed the same during the quarter, even though the price of Bitcoin went up by approximately 7%. advertisement Back in February 2021, Tesla reported purchasing a total of $1.5 billion worth of Bitcoin s. However, it sold a large majority i.e. 75% of its holdings by the second quarter of 2022. This brought down the entire value of digital assets held by the company to $218 million. In July 2022, Elon Musk, the CEO of Tesla, said that the company might consider increasing its Bitcoin holdings in the future. However, in Q4 2022, Tesla reduced its digital asset holdings from $218 million to $184 million, and it has maintained this level since then. Elon Musk on Bitcoin and Crypto Over the last few years, the world’s richest man has been quite vocal over his support for Bitcoin and other digital assets in the market...

Bitcoin, Toncoin And Telegram Stocks According to Wu’s tweet, Durov only has a small amount of Toncoin (TON), the native cryptocurrency of Telegram’s Open Network Layer 1 blockchain that uses the PoS consensus process, Bitcoin , and Telegram stock. advertisement Toncoin , the cryptocurrency that the messaging service has adopted, was proven to be owned by Pavel Durov. Since he made his comment earlier today, the price of Toncoin has risen from $1.34 to $1.38, an increase of 3%. Durov has claimed in the past that he owns Bitcoin . A decade ago, he invested roughly $1.5 million in 2,000 Bitcoin , which today would be worth $60 million. CEO Shills Telegram Bonds In a message on his official Telegram channel on Tuesday Pavel Durov mentioned the growth of the instant messaging service and mentioned that the app had more than 800 million monthly active users earlier in the year and more than 2.5 million new signups every day. R...

Sheldon from Crypto Banter predicted that the crypto market may rally in the next 2-3 weeks. The analyst was especially bullish on the market leader and forecasted that it may reach $50K by the end of the year. Rallies for SUSHI, AVAX, NEAR, SOL, ADA, ETH, MATIC, DOGE, and THETA were all forecasted in the analysis. An analyst from Crypto Banter named Sheldon predicted in his latest Analysis that the cryptocurrency market could rally in the next 2-3 weeks. He did, however, warn that this bullish thesis will only be validated as long as the market leader Bitcoin (BTC) maintains a position above the crucial $29.5K support. Furthermore, he forecasted that BTC closing a daily candle above $32K in the coming few days may lay the foundation needed for the cryptocurrency to climb to between $35K and $40K throughout the upcoming weeks. On the other hand, BTC closing a daily candle below $29.5K may lead to a correction to $27K in the next couple of weeks. Despite ...

Decentralized exchange (DEX) 1inch ’s native token 1INCH has surged by 55.2% in the monthly charts. The token has also risen by 44.4% in the weekly charts, and 29.1% in the last 14 days. Moreover, trade volume for the token has reached $597 million, the highest since October 2021. According to CoinGlass, $3.37 million in leveraged short positions have been liquidated in the last 24 hours. According to data on Coinalyze, open interest for the asset has risen to $125 million from a mere $14 million. Coinalyze data shows that open interest has risen by 134.05% in 24 hours. This could mean that the recent rally is fueled by the futures market. Binance has the highest amount of open interest, with $76.1 million. Bybit follows in second place with $23 million. Crypto Analysis firm, LookOnChain reported that one investor moved 7 million 1inch tokens worth $3.88 million to Binance. Also Read: Binance: BNB Being Shorted Amid Lawsuit and Layoffs Note that a #1INCH...

Author：Crescent Editor：Colin Wu 1. Bappebti to Launch Cryptocurrency Exchange in Indonesia link On July 14th, according to Indonesian media reports, the Futures and Commodity Trading Regulatory Agency (Bappebti) is set to launch an Indonesian cryptocurrency exchange in July 2023. Didid Noordiatmoko, the head of Bappebti, stated that once the exchange is launched, all cryptocurrency trading will be regulated through the exchange, and processes such as KYC will be supervised. Previously, Bloomberg reported that Indonesia plans to transfer regulatory authority over such assets from the commodity agency to the Financial Services Authority after the launch of a national cryptocurrency exchange. Currently, there are 383 types of cryptocurrencies and 10 local currencies available for trading in Indonesia. 2. South Korea’s Weekly Summary 2.1 South Korea’s Prosecutors to Establish “Virtual Asset Joint Investigation Team” link On July 11th, according to the Korean Economic Daily, the Korean pr...

In what has been quite a surprising development, Shiba Inu has seen large SHIB trans action s surge amid its continued price rise. Indeed, the asset has noted that trans action s worth more than $100,000 have quadrupled, according to data compiled by IntoTheBlock. Since the game-changing court ruling regarding XRP, SHIB has been a surprising beneficiary. Moreover, these large-scale trans action s have increased by a notable $56.78 million over the last 24 hours alone. A development that has led total Shiba Inu trans action s over the past day to surpass $9 trillion.  Source: thenewscrypto.com Also Read: US Judge Rules Ripple XRP is Not a Security Shiba Inu Large Trasnations Increase Fourfold in 24 Hours Without the immensely volatile meme coin market, few assets have developed the kind of community that Shiba Inu has. Moreover, over the last 24 hours, it has seen its price grow considerably. Subsequently, that has driven one important aspect of its price action upward....

After the recent ruling, XRP price surged 66%, but fake airdrop scams emerged. Ripple CTO has warned users against fraud. Ripple CTO David Schwartz warned that scammers will try to defraud users. He confirmed there will be no official XRP airdrops. A lot of scammers are taking advantage of the recent good news to try to cheat and steal. There are no airdrop s, giveaways, or special offers associated with this ruling . — David "JoelKatz" Schwartz (@JoelKatz) July 13, 2023 Crypto Law, an organization specializing in cryptocurrency regulations, also warned about the surge of scam accounts taking advantage of the XRP ruling . They advised users to be cautious of fraudulent accounts appearing in their feeds. Crypto Law also urged not to click on the links but report and block them. You might also like: Bitbuy relists XRP amid improvements in Ripple vs. SEC case Such accounts falsely claim to be XRP-related, promoting fake airdrop s. The organization stressed t...

Wallet, a bot within Telegram that lets users transact with crypto like bitcoin (BTC), has introduced a new payment solution rooted in The Open Network (TON) blockchain. Wallet Pay aims to facilitate cryptocurrency payments between customers and businesses directly within the Telegram application. On July 13, Wallet said the new payment functionality is immediately accessible in all regions supported by the wallet service. Presently, this service excludes the United States and countries blacklisted by the Financial Action Task Force (FAFT), such as Iran, Myanmar, and North Korea. Payment for goods and services with crypto currency within @Telegram Cryptocurrency # payment s on Telegram just got easier with Wallet Pay: a payment service developed by the wallet team specifically for the #Telegram ecosystem. With its help, merchants will be able to… pic.twitter.com/EFrUwzIMH5 — TON Daily NEWS (@TonDailyNews) July 13, 2023 Certain jurisdictions where Wallet operates don...

Web3 game platform Xterio will receive $15 million from Binance Labs. The venture capital division of Binance will help it integrate AI technologies. Switzerland-based Xterio positions itself as a “free-to-play-and-own” game developer and publisher. The company combines the free-to-play gaming model with the opportunity for players to earn non-fungible tokens (NFTs) while playing their games. We're excited to announce our investment in@XterioGames! Xterio is a Web3 game platform & publisher innovating AI toolkits to bridge free-to-play & on-chain gaming with its diverse suite of in-house & third-party games.https://t.co/1x4LyMI5ra — Binance Labs Fund (@BinanceLabs) July 13, 2023 Xterio will utilize the $15 million investment from Binance Labs to fuel game and technology development and explore potential artificial intelligence (AI) integrations into Xterio’s game titles. “Binance Labs’ investment enhances our ability to launch ...

Riding on the AI wave, Nvidia has been one of the best-performing companies on Wall Street this year. A positive quarterly turnover coupled with the rising demand for AI chips put the firm on a pedestal. Currently, Nvidia is the fifth largest American company. At the moment, Michael Saylor’s MicroStrategy has just flipped NVDA in terms of returns fetched. Since the last trading week of December 2022, the chip maker’s shares have risen 190.17%. In the same time period, however, the pro-Bitcoin Business Intelligence company’s share price has appreciated by 191.23%. Nvidia, MicroStrategy stock action by TradingView Also Read: 20,000% Vs. 11,000%: Bitcoin Beats Nvidia in 10 Year Gains MSTR to continue rising? Irrespective of the state of the market, Michael Saylor’s firm has been accumulating Bitcoin. Just a fortnight back, it bought 12,333 BTC for ~$347.0 million. With that, the company’s holdings rose to 152,333 BTC. At the current market price of $3...

On July 11, Judge Paul Barbadoro of the U.S. District Court for the District of New Hampshire refused to rule on if the secondary sale of LBRY Credits (LBC) constitutes security. According to the final judgment, LBRY Inc. is liable for violating Section 5 of the Securities Act 1933. The development could have dire consequences for the SEC vs. Ripple lawsuit. In January, pro-XRP lawyer John Deaton convinced the judge that the secondary LBC token sales do not constitute a securities offering. Deaton is representing XRP holders in the Ripple lawsuit as amicus curiae. However, the judge’s refusal to rule on the same could impact other securities-related lawsuits by the SEC. Judge Barbadoro stated, “Accordingly, I take no position on whether the registration requirement applies to secondary market offerings of LBC.” Deaton took to Twitter and revealed that he “asked the judge to clarify that token itself is not the security.” Nonetheless, t...