Payments-focused cryptocurrency Dash now has a bridge to DeFi

Dash (DASH) holders will soon be able to access a wide range of decentralized finance, or DeFi, services through a collaboration with StakeHound. According to an announcement on Oct. 19, tokens which are deposited with StakeHound will also earn network rewards through the Dash masternode system. In order to take advantage of the burgeoning DeFi market, Dash holders must send tokens to StakeHound, who will then instantly generate and send back a wrapped ERC-20 representation called stakedDASH. StakedDASH will be tradable and usable in major DeFi platforms such as UniSwap,…

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Cryptocurrency ETFs: SEC Wants to Facilitate Tokenized Products

The U.S. Securities and Exchange Commission (SEC) wants to facilitate tokenized exchange-traded funds (ETFs), according to chairman Jay Clayton. The agency is collaborating with other U.S. regulators to determine how to regulate different crypto products. SEC Open to Tokenization of ETFs SEC Chairman Jay Clayton talked about the commission’s approach to regulating crypto products during a panel discussion hosted by the Chamber of Digital Commerce earlier this month. The event, entitled “Two Sides of the American Coin: Innovation & Regulation of Digital Assets,” also features acting Comptroller of the Currency…

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Spain Approves Bill Requiring Cryptocurrency Owners to Disclose Crypto Holdings and Gains

Spain’s government has reportedly approved a bill that requires cryptocurrency owners to disclose their crypto holdings and any gains on their assets. Spain’s Finance Minister and the government’s spokesperson, Maria Jesus Montero, said at a press conference following the weekly cabinet meeting that this bill is part of broader legislation to crack down on tax fraud, several Spanish news outlets have reported. The bill was sent to the Spanish Congress of Deputies on Tuesday and will now go to parliament for discussion and final approval. “This is a bill that…

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Cryptocurrency Exchange Operator Diginex Begins Trading on Nasdaq

Cryptocurrency exchange operator Diginex has announced the start of its listing and trading on Nasdaq. Digital assets financial services company Diginex Limited announced on Thursday that it has completed a business transaction with 8i Enterprises Acquisition Corp., a Nasdaq-listed special purpose acquisition company, which allows it to list and trade on Nasdaq. The company details: Diginex Limited will trade on Nasdaq under the ticker symbol ‘EQOS’ where it will offer investors the opportunity to participate in the growth of digital assets. The announcement adds that the company’s warrants will trade…

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Venezuela To Start Using Cryptocurrency in Global Trade in Efforts To Fend off U.S. Sanctions

Venezuela president Nicolas Maduro says the country is to start using cryptocurrency in both domestic and global trade, as part of efforts to neutralize crippling U.S. economic sanctions. Speaking in the country’s parliament on Sept. 29, Maduro revealed that the move will “give new strength to the use of petro and other cryptocurrencies, national and global, in domestic and foreign trade…” The country has already been trying to use its national crypto, the petro, for this purpose but without much success. Maduro was delivering an anti-sanctions law aimed at spurring…

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The emergence of cryptocurrency hedge funds

I started exploring Bitcoin first in 2012 and, still today, I am fascinated by the opportunities and future potential digital assets pose as an emerging alternative asset class. One of the most relevant recent developments, which is often not covered, is the emergence of crypto hedge funds. Compared to the early days of crypto assets, when there were mainly private investors or traders in the space, a massive inflow of professionals entering the market has begun with the emergence of crypto hedge funds. In fact, looking at data from 150…

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Dash is evolving into a decentralized cloud cryptocurrency

Payments-focused cryptocurrency Dash is starting to release insights into its new platform, which enables data to be stored within the network in the form of decentralized cloud service. The forthcoming Dash Platform has been developed from longstanding ideas to evolve the cryptocurrency’s functionalities — dating back to the announcement of “Dash Evolution” back in 2015. Dash Platform will incorporate four features: a Dash Drive, a decentralized API, or DAPI, a username layer, or DPNS, and the Dash platform protocol, or DPP. Speaking to Cointelegraph, Mark Mason outlined what exactly the…

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Rapper TI Cryptocurrency Fraud: Charged and Fined $75,000 by SEC

Rapper TI and four other people, including film producer Ryan Felton, have been charged by the U.S. Securities and Exchange Commission (SEC) over fraudulent token sales. TI, or Tip as the rapper is also known, is also fined $75,000 by the securities regulator. Rapper TI and Film Producer Charged The SEC announced Friday the charges against rapper and actor Clifford Harris Jr. (often known as TI or Tip), film producer Ryan Felton, and three others over two fraudulent initial coin offerings (ICOs). The SEC also charged two companies, Flik and…

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Square Launches Cryptocurrency Open Patent Alliance – Bitcoin Magazine

Today, mobile payments company Square launched the Cryptocurrency Open Patent Alliance (COPA), a non-profit focused on keeping patents from becoming barriers to innovation in the space. “Crypto organizations (or even governments) have filed for hundreds of patents on cryptocurrency technology and continue to do so in large numbers,” a Square representative explained in a statement shared with Bitcoin Magazine. “Locking up foundational cryptocurrency technologies in patents stifles innovation and adoption; and offensive use of patents by bad actors threatens the growth of cryptocurrency technologies.” For instance, notorious Bitcoin fraudster Craig…

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SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency

A new report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) says cryptocurrency is seldom used for money laundering activities compared to fiat or other traditional methods. Despite the perception that crypto assets are a preferred haven for illegally acquired funds, criminals prefer to launder proceeds through mules, front companies, or cash businesses as well as investing it into crime, it said. “Identified cases of laundering through cryptocurrencies remain relatively small compared to the volumes of cash laundered through traditional methods,” SWIFT noted, in a report titled “Follow The…

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