Explore how the new UK travel rule can halt crypto transactions for the crypto firms Businesses that deal in crypto assets can already start delaying some bitcoin transactions to abide by the new travel rule for crypto that went into effect on September 1. The Financial Conduct Authority originally announced the regulations aimed at virtual asset service providers on August 17. These regulations mandate that VASPs in the UK “collect, verify, and share information” regarding crypto-asset transfers. Suppose an inbound payment is received from a person or organization from a foreign country that hasn’t put the Travel Rule into effect.…
Author: Harshini
Harshini
Harshini is a content writer at CryptoTechTimes specializing in the analysis and writing of content. In addition to covering cryptocurrency, innovations, and the academic sector, she also writes about the newest technological advancements.
The ultimate guide for beginners about using crypto and earning passive income with crypto Thanks to cryptocurrencies ‘ distinctive financial tools, a distributed economy can be accessed by anybody with an internet connection. Opportunities for passive income are included. Even though cryptocurrency may resemble a bank account or a social lending platform, it comes with its own set of special hazards. If you’re ready to take on the dangers, various methods exist to use cryptocurrencies to generate passive income. Here are some strategies for maximizing your cryptocurrency holdings’ potential for profit. 1. Earning Like a Bank in DeFi Through Yield-Farming…
Unveiling more about X (Twitter) plans to enable crypto payments after obtaining a license In its mission to develop into a “cryptocurrency-friendly” platform, X (previously Twitter) has made significant progress. In the US, X is now authorized to provide trading services and accept cryptocurrency payments. The information on NMLS indicates that X received the Rhode Island Currency Transmitter License on August 28. For users to get services involving digital assets, this license is required. X has made several efforts to integrate cryptocurrencies, including a Bitcoin tipping option and enabling users to post non-fungible tokens (NFTs) as profile images. The platform…
Understanding the role of proof of work (pow) and its applications in blockchain technology To achieve consensus, proof of work (PoW) requires a lot of computing power from a network of devices. In 2004, Hal Finney improved the idea by proposing “reusable proof of work” that used the 160-bit SHA-1 Secure Hash Algorithm. After its launch in 2009, Bitcoin, the first Bitcoin transaction beneficiary, became the first widely used implementation of Finney’s PoW concept. Many other cryptocurrencies are built on the proof of work principle, which enables safe consensus. Knowledge of Proof of Work The use of proof of work…
This Week focuses on some of the 4 big bitcoin and crypto events that are anticipated to occur Numerous events are anticipated to occur this week, which could result in important developments for the Bitcoin and cryptocurrency markets. These events could impact the ETF landscape, the macroeconomic indicators, and the next move by Bitcoin. Here is a brief overview of the most anticipated events every Bitcoin and crypto enthusiast, investor, and trader should have on their radar. 1. High Expectations Await SEC’s Decision on the Bitcoin Spot ETF: A pivotal week for Bitcoin spot ETFs is ahead, as the SEC…
Dropbox changes storage policy after crypto miners use the cloud for mining operations The online storage company, Dropbox, announced that it would stop providing its Advanced plan subscribers unlimited storage. The business claimed it took this action after learning that some users abused the service for resource-intensive activities like cryptocurrency mining. In a blog post from August 24, Dropbox claimed that while their unlimited Advanced plan was intended to give “all the space you need” to real business clients, it had seen an increase in users who were consuming “thousands of times more storage than our genuine business customers.” The…
Explore whether gold-backed cryptos can outperform gold investments in a stable market The extreme volatility and unpredictable nature of Bitcoin are why some individuals are apprehensive about investing in it. Because it may be used as a store of wealth, Bitcoin is frequently referred to as “digital gold,” yet its price can change considerably quickly. For this reason, some investors like gold-backed cryptocurrencies, which are virtual currencies connected to actual gold. These currencies are more dependable and stable than other cryptocurrencies because they have a fixed value corresponding to the gold price. Because of their lower price volatility and more…
Thailand government warns Facebook to shut down over alleged scam ads or face closure Facebook may face a court-ordered shutdown in Thailand if it does not take action against alleged scam ads on its platform. On August 21, the Ministry of Digital Economy and Society (MDES) said that over 200,000 individuals had been harmed by Facebook advertisements promoting cryptocurrency frauds, phony investments, and bogus government organizations like the Securities and Exchange Commission. The MDES claimed that the scammers used popular tactics such as crypto investment and trading scams. They also used images of celebrities and well-known financial figures and promises…
Let us find out how China’s deflation affects bitcoin prices and the relationship between the two For the first time in more than two years, China’s economy has entered a deflationary phase, which might have detrimental effects on Bitcoin (BTC) and other markets in the short- to medium term. This is the analyst Marcel Pechman’s position, and he made it known on the most recent Macro Markets program. He said that the deflation in China, which experts view as a threat, will harm equities, commodities, and Bitcoin, all of which depend on expanding the world economy. “Holding stocks that just…
Explore Bitcoin’s origin and crypto data strategies for finding top presales Bitcoin: Why &How was it Created? Cryptocurrency is a kind of digital money created and managed by the people who use it, without any central authority like the government or the bank. It uses cryptography and distributed ledgers to protect and record its transactions. Cryptography is a way of securing information and communication with codes and math. Distributed ledgers are shared and updated databases among many users and devices without a central server. Cryptocurrency has no physical form, and its ownership is stored in the distributed ledger. Bitcoin is the…