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Posts published in “cryptocurrency”

Hong Kong to restrict crypto exchanges to professional investors

Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city’s markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday.

Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and preventing money laundering are particular concerns.

Bitcoin ends day on the ropes after China clamps down on mining, trading

Bitcoin extended losses on Friday afternoon, falling more than 11% after China doubled down on efforts to prevent speculative and financial risks by cracking down on mining and trading of the largest cryptocurrency. China’s Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more. read more

The world’s largest and most popular cryptocurrency recently traded down 11.59% at $35,928 after holding the $40,000 level for most of the Asian and London sessions.

How Bitcoin lost over $120.78b in 24 hours

Bitcoin has lost more than 10 per cent of its value in 24 hours. A total of $120, 776, 981, 476 was wiped away when investors’ confidence in the digital currency tanked after Elon Musk, CEO of Tesla, revealed that Tesla was going to halt accepting bitcoin as payment for its cars.

A statement on the CEO’s tweet said, “Tesla has suspended vehicle purchases using bitcoin. We are concerned about the rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

Elon Musk decries Bitcoin’s ‘insane’ energy use after Tesla payment U-turn

Tesla Inc (TSLA.O) boss Elon Musk on Thursday denounced the “insane” amount of energy used to produce bitcoin, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns.

Digital Coin Ether hits record high as 2021 Gains near 500%

Information reaching us has it that Cryptocurrency ether hit another record high on Wednesday, taking gains this year to close to 500% on the back of growing interest in decentralized finance applications and increasing institutional interest in cryptocurrencies.

CME says more than 100,000 micro Bitcoin futures Traded in first six days

CME says more than 100,000 micro bitcoin futures traded in first six days

Exchange operator CME Group Inc (CME.O) said on Tuesday more than 100,000 micro bitcoin futures were traded in the first six days after the contract’s launch.

SpaceX accepts dogecoin as payment to launch lunar mission next year

SpaceX will launch the “DOGE-1 Mission to the Moon” in the first quarter of next year, with Elon Musk’s commercial rocket company accepting the meme-inspired cryptocurrency dogecoin as payment.

“SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space – 1st meme in space”, Musk said in a tweet.

Paxful Eyes more Cryptocurrency Trades Despite CBN Ban

Paxful, a cryptocurrency trading platform, says it expects 23 per cent more crypto traders from Nigeria on its platform than what it recorded in 2020.

The company told our correspondent that it was on track to have 36 per cent more bank transfer volume on its platform than it had last year.