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India Considers Allowing Only Preapproved Cryptocurrencies — Crypto Regulation Expected by Year-End: Report

Source Node: https://news.bitcoin.com/india-preapproved-cryptocurrencies-crypto-regulation-expected-year-end/
Time Stamp: November 19, 2021 9:30 AM - Modified On: November 19, 2021 - Published By:
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India is reportedly considering allowing only preapproved cryptocurrencies to be listed and traded on exchanges. In addition, the government aims to both introduce and pass a cryptocurrency law by year-end. Indian Crypto Regulation and Preapproved Cryptocurrencies India is considering allowing only cryptocurrencies that have been “preapproved by the government” to be listed and traded on exchanges, Reuters reported Thursday, citing two sources familiar with the discussions. The approval process is intentionally cumbersome to deter investors from holding cryptocurrencies, the sources said, adding that the government is unlikely to go through

NFT-Collateralizing South African Startup Raises $5 Million in Latest Seed Round

Source Node: https://news.bitcoin.com/nft-collateralizing-south-african-startup-raises-5-million-in-latest-seed-round/
Time Stamp: November 19, 2021 7:30 AM - Modified On: November 19, 2021 - Published By:
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A South African startup, NFTfi, is reported to have recently raised $5 million which the company intends to use for boosting its business of collateralizing non-fungible tokens (NFTs). Cryptocurrency Loan Marketplace According to a Techcrunch report, NFTfi’s $5 million capital raise was led by U.S. actor Ashton Kutcher’s Sound Ventures. The other investors that participated in the funding round include Maven 11, Scalar Capital, and Kleiner Perkins. The company, which was founded by Stephen Young in February 2020, already acts as a marketplace where users can get a cryptocurrency loan

Kucoin Labs Launches $100 Million Metaverse Investment Fund

Source Node: https://news.bitcoin.com/kucoin-labs-launches-100-million-metaverse-investment-fund/
Time Stamp: November 19, 2021 6:00 AM - Modified On: November 19, 2021 - Published By:
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Kucoin Labs, the investigative and investment arm of Kucoin, a cryptocurrency exchange, has launched a $100 million fund to incubate early metaverse related projects. These include blockchain gaming initiatives, NFT platforms, and decentralized platforms, among others. The support will also include direct involvement with the projects selected, including counseling about branding and marketing. Kucoin Invests in Metaverse Kucoin, one of the leading exchanges in Asia, has taken the first step to hop on the metaverse train. The investment and investigation arm of the exchange, Kucoin Labs, has launched a $100

Xbox Boss Phil Spencer Addresses Rise of NFT Gaming; Feels Some of It Is “Exploitive”

Source Node: https://news.bitcoin.com/xbox-boss-phil-spencer-addresses-rise-of-nft-gaming-feels-some-of-it-exploitive/
Time Stamp: November 19, 2021 4:30 AM - Modified On: November 19, 2021 - Published By:
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Phil Spencer, executive vice president of gaming at Microsoft and the individual responsible for the Xbox program, has addressed the NFT gaming phenomenon trending recently. To Spencer, some of the platforms that leverage the use of NFTs feel more exploitive than entertaining. Some of the biggest developers and publishers in the gaming industry have already signaled their interest in introducing NFT elements to their games. Phil Spencer Not Immediately Supportive of NFTs Phil Spencer, responsible for the Xbox program at Microsoft and one of the most recognized executives in the

Global Exchange Binance Releases Crypto Bill of Rights For Traders

Source Node: https://www.coinbureau.com/news/global-exchange-binance-releases-crypto-bill-of-rights-for-traders/
Time Stamp: November 17, 2021 10:09 AM - Modified On: November 17, 2021 - Published By:
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Binance, the world’s largest crypto exchange, has released what they call the “10 Fundamental Rights for Crypto Users.” Running what Changpeng Zhao (CZ) says is Binance’s first advertisement ever, the exchange took up an entire page of London’s Financial Times with the words “CRYPTO IS EVIL.” Underneath the eye-catching phrase, Binance warns: “When it comes to crypto, Don’t let the headlines fool you. There’s a world beyond Bitcoin and Dogecoin, one where financial opportunity is accessible to everyone, not just the privileged few. Crypto belongs to all of us. But

Web3 social infrastructure startup CyberConnect raises $10 million in seed funding

Source Node: https://www.theblockcrypto.com/post/124510/web3-social-infrastructure-startup-cyberconnect-raises-10-million-in-seed-funding?utm_source=rss&utm_medium=rss
Time Stamp: November 16, 2021 1:30 PM - Modified On: November 16, 2021 - Published By:
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CyberConnect, a crypto startup developing tools for Web3 social media, gaming, and metaverse applications, has raised $10 million in a seed funding round.Sharing the news exclusively with The Block on Tuesday, CyberConnect said Multicoin Capital and Sky9 Capital co-led the round. Animoca Brands, Draper Dragon, Hashed, Zoo Capital, Smrti Lab, and Mask Network also participated in the round, among other investors. This was an equity + SAFT (simple agreement for future tokens) round, CyberConnect founder Wilson Wei told The Block. It will help the firm double its current team of

[SPONSORED] Kava Network: Powering a Decentralized Future

Source Node: https://www.theblockcrypto.com/post/124214/kava-network-powering-a-decentralized-future?utm_source=rss&utm_medium=rss
Time Stamp: November 16, 2021 9:00 AM - Modified On: November 16, 2021 - Published By:
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In our last article on Kava, we covered its origins and explored the suite of high-yield DeFi protocols that make up the Kava Platform. In the second article of our three-part series, we dive deeper into the Kava network and take a look at the ecosystem of best-in-class DeFi, NFT, and GameFi services that are being built on top of it. The Kava Network Originally built to support the Kava Platform, the Kava network is a highly secure and scalable Layer-1 blockchain. Built using the Cosmos SDK, the Kava network is

Cosmos liquid staking protocol pSTAKE raises $10 million in seed funding

Source Node: https://www.theblockcrypto.com/post/124454/pstake-persistence-cosmos-liquid-staking-protocol-seed-funding?utm_source=rss&utm_medium=rss
Time Stamp: November 16, 2021 9:00 AM - Modified On: November 16, 2021 - Published By:
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pSTAKE, a liquid staking protocol from blockchain startup Persistence, has raised $10 million in a seed funding round.Three Arrows Capital, Galaxy Digital, Sequoia Capital India, and DeFiance Capital co-led the round, with Coinbase Ventures, Tendermint Ventures, Kraken Ventures, Alameda Research, and Sino Global Capital also participating. Several angel investors, including Aave's Ajit Tripathi, Terra founder Do Kwon and Alpha Finance co-founder Tascha Punyaneramitdee, also backed the round. Crypto staking infrastructure providers, including Stake.fish, Figment Fund, Everstake, and Chorus One, also joined the round. This was pSTAKE's first fundraise and was

Bitcoin price drops nearly 10% in 24 hours, dips below $60,000

Source Node: https://www.theblockcrypto.com/post/124439/bitcoin-price-drops-nearly-10-in-24-hours-dips-below-60000?utm_source=rss&utm_medium=rss
Time Stamp: November 16, 2021 6:07 AM - Modified On: November 16, 2021 - Published By:
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Quick Take The price of bitcoin has declined nearly 10% in the last 24 hours. It fell below $59,000 but has since rebounded slightly. advertisement The price of bitcoin has declined nearly 10% in the last 24 hours, dipping significantly below $60,000 before bouncing back. The drop seems to be triggered by the infrastructure bill signed by U.S. President Joe Biden yesterday, Darius Sit, co-founder of crypto trading firm QCP Capital told The Block. The bill includes tax reporting provisions that require crypto exchanges to report information to both the

Bank of England’s Cunliffe: Crypto Threat to Financial Stability ‘Getting Closer’ — Urges Regulators to Act Now

Source Node: https://news.bitcoin.com/bank-of-englands-cunliffe-crypto-threat-financial-stability-urges-regulators-to-act-now/
Time Stamp: November 16, 2021 1:30 AM - Modified On: November 16, 2021 - Published By:
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Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrency is getting closer to posing a threat to global financial stability due to the sector’s rapid growth. Crypto is also being integrated into the traditional financial system at a rapid rate. He urges regulators to take action now. Bank of England’s Jon Cunliffe Warns Crypto Is Closer to Becoming a Threat to Global Financial Stability Sir Jon Cunliffe, Bank of England’s deputy governor for financial stability, talked about bitcoin and cryptocurrencies in general on BBC’s