The United States will possibly cease crypto staking as per what is popping out in the news this week in crypto. Simultaneously, there are a couple more things happening in the cryptocurrency sphere. In this collective news update, we will walk you through all the critical things happening in and around the crypto space.
This Week In Crypto: Top Headlines In Cryptocurrency
Here is the top news that flashed this week in crypto. This news is indeed making headlines.
Binance Ceased USD Bank Transfers
Binance, the most popular global crypto exchange has ceased its USD bank transfers for a temporary period. Additionally, it has also halted deposits and withdrawals in USD via bank accounts for non-US customers. In this respect, a spokesperson mentioned that this initiative is solely affecting just one active monthly customer out of every ten thousand of its active users. They are also working hard to restart the halted services as soon as possible. That said, the Binance.US services permitting US traders to trade crypto remained unaffected.
Brave To Add Solana Support
To improve security and eliminate the need to switch between apps for transactions, the Web3 browser Brave has added support for Solana (SOL) dApps in its mobile browser. The Solana NFT marketplaces and cryptocurrency exchanges are now accessible to users. In 2021, Brave and Solana first communicated.
Ether Drops After SEC’s Crackdown On Crypto Staking
As concerns about a U.S. regulatory crackdown on crypto staking protocols spread, the price of ether dropped by 8%. Given that staking customers are guaranteed consistent returns and payouts, the SEC accused Kraken of selling an unregistered investment. Kraken has responded by ending its US staking program and agreeing to pay the agency $30 million as a result.
Global Luxury Rehab Centers For Crypto Addicts
As more and more investors have discovered themselves struggling to control their trading, high-end rehab facilities have been springing up all over the place, promising to treat crypto addiction. One business providing these services touts its facility as a secure setting that fosters fulfillment and health while charging upwards of $75,000 for a month-long stay.
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LocalBitcoins To Shut Down
Announcing its impending closure in the coming weeks, LocalBitcoins, one of the first and most well-known peer-to-peer bitcoin trading platforms, cited unfavorable market conditions as the reason. New registrations have already been suspended, trading and deposits will stop this week, and users will still be able to withdraw their money for the following 12 months. This has been one of the most prominent news This Week In Crypto.
Revolut Offers Crypto Staking
Revolut, one of the biggest digital banks in Europe, has only recently begun to offer customers in 30 different European nations the chance to stake their cryptocurrency holdings. Revolut’s strategy to broaden its crypto-related services includes the introduction of its crypto staking service for a number of proof-of-stake (PoS) tokens, including Ethereum (ETH), Cardano (ADA), Polkadot (DOT), and Tezos (XTZ).
Self-proclaimed BTC Inventor Loses Copyright Claim
Craig Wright, the self-described creator of Bitcoin, lost his legal battle to have the currency’s operations stopped for violating his intellectual property rights. A UK judge informed Wright that Bitcoin (BTC) cannot be protected by copyright in the same manner as a literary work and that he was unable to demonstrate the method by which the network’s blocks were first recorded.
Trade In Bankruptcy Claims On A New Exchange
A trading platform for crypto bankruptcy claims has been developed by the founders of failed crypto hedge fund Three Arrows Capital. Open Exchange provides a marketplace for traders to trade claims from bankrupt crypto firms such as FTX, Celsius, BlockFi, Mt. Gox, and even 3AC themselves, with a $20 billion market for refunds.
This Week In Crypto: UAE Bans Privacy Coins
In the United Arab Emirates, all activities relating to privacy coins like Monero (XMR) are prohibited in a new rule. Anonymous cryptocurrency is defined by the new regulation as a type of virtual asset that can’t be traced or tracked. The news is not shocking because similar indications have already been made by other regions, including the European Union (EU).
There you have it, folks! Thanks for sticking with us. We hope that this read has been helpful to know about the various happenings This Week In Crypto. Comment below with any valuable thoughts you may have. We would appreciate it if you did so. If you enjoyed this article, share it with your friends and colleagues!
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