Hong Kong’s Losses to Crypto Scams Doubled to $217M Last Year: Report
Losses from crypto scams in Hong Kong amounted to 1.7 billion Hong Kong dollars ($216.6 million) last year, surging 106% from a year before, according to the local police.
Tokenomics vs Tokenization: Understanding the Difference
In this short article, we’ll explore the intriguing differences between tokenomics and tokenization.
'Home' Regulator Could Solve Crypto's 'Fragmented Supervision' Issue: Comptroller
Cryptocurrency firms operating multiple entities in different countries should be overseen by one consolidated “home” regulator to stop them from playing "games" aimed at skirting regulators, the acting head of the United States banking regulator has opined. Michael Hsu, the Acting Head of the Comptroller of the Currency (OCC) made the comments in prepared remarks for the Mar. 6 Institute of International Bankers conference in Washington, D.C. The OCC is a bureau within the Treasury Department that regulates U.S. banks and aims to ensure the safety of the country's banking system. It has the power to permit or deny banks from engaging in crypto-related activities. (Cointelegraph)
Bitcoin, Ether Little-changed in Downtrend day
Bitcoin and Ether traded little changed, but it looks like a downtrend day for most of the top 10 non-stablecoin cryptocurrencies in Tuesday morning trading in Asia. Litecoin led the losers, while Dogecoin rose, though the leading meme coin is still down for the prior week. Concerns about the solvency of U.S.-based crypto bank Silvergate and the fallout from its potential failure still cloud the market. The new Forkast NFT 500 index slipped. U.S. equities had a mixed day on Monday as traders await Federal Reserve Chair Jerome Powell’s comments to the Senate Banking Committee on Tuesday for an insight into where interest rates are going. (forkast)
Silvergate’s Struggles Will Likely Boost Stablecoins’ Role in Crypto Trading: Kaiko
Ailing Silvergate Capital’s decision to shutter its instant settlement service SEN, which was popular among large investors, will boost the role of stablecoins and their issuers in crypto trading, market research firm Kaiko said in a report published Monday.
You Can’t Trust Crypto Firms Until They Get Federal Oversight, Says U.S. Banking Watchdog
As it stands, there’s no way for people to know which crypto firms they can rely on, said Michael Hsu, the acting head of the U.S. Office of the Comptroller of the Currency (OCC).
Investor Concerns Persist As Crypto Investment Products See 4th Week of Outflows
On Mar. 6, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that Investors have continued to display negative sentiment toward crypto investment products, with outflows totaling $17 million.
Building a Cryptocurrency Exchange like Coinbase with Coinbase Clone Script
Cryptocurrency is changing the way we perceive traditional finance. With the rise of Bitcoin and other cryptocurrencies, many entrepreneurs are looking to tap into this growing market by launching their own cryptocurrency exchange platforms.
Ethereum Smart Contract Development: The Ultimate Guide for Beginners
In recent years, blockchain technology has gained immense popularity, and Ethereum has emerged as one of the most promising platforms for creating decentralized applications (dApps).
Powell Hearing To Include Crypto, US Senator Confirms
US Senator Bill Hagerty said he will discuss cryptocurrencies along with the Fed’s interest rate plans at the hearing on The Semiannual Monetary Policy Report to the Congress. Federal Reserve Chairman Jerome H. Powell is all set to participate in the open session to be held on Tuesday, 7 March, 2023. While the market would be waiting to get the Fed’s view on interest rate hike plan for the rest of the year, Powell’s comments on the crypto market could also come as a key development. The Fed Chair’s comments come at the back of his views from September 2022, when he said there was a need for better regulation of cryptocurrencies.
