Cryptos Q2 assessment; Large part of crypto markets struggles
Cryptorank recently released a report on the crypto market’s performance in Q2 2023. Uncertainty was the theme of this period, with major regulatory and institutional happenings.
Reprive for US markets as CPI data comes with inflation at 3%
US CPI data has been released, sending more fear of further hikes in the markets. The US CPI has risen to 305.11 points in June from 304.13 points in May, with the housing sector being the highest contributor to the increase, with an over 70% increase in its index.
Bank of England warns UK Mortgage pain is set to continue through to 2026
UK mortgage financing is set to become harder for middle and struggling social classes as inflation worsens and BoE projects hikes of up to $645 in monthly payments.
Peoples Bank of China begins trials for offline digital yuan payments
Peoples Bank of China has started trials for its plans to allow users to make phone payments using the new digital Yuan without internet connectivity. One of the key parts of the plan is integrating the e-CNY app with specialized SIM cards with near-field communication capabilities.
Tether USDT issues an additional 1 billion coins on the Tron network
As demand rises, Tether USDT has increased its market value by $2.6 billion. As a result, Tether has minted 1 billion more coins on Tron Network to satisfy the blockchain’s USDT chain swap demands.
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Hot Stories
President Ruto in distress as High Court dismisses CASes days after suspending controversial Finance Act
Kenya’s High Court deemed President Rutos’ 50 assistant cabinet secretaries unconstitutional just days after suspending the highly controversial Finance Act. The decision follows an uproar of continued overspending from the Kenyan government while the country is in financial distress.
E.U. and Japan to strike a partnership for A.I. and Chips developments as plans to ditch China continue
The European Union (E.U.) is pushing its plans to de-risk China’s global supply chain by onboarding Japan as a partner in A.I. and microchip developments. E.U. Commissioner Thierry Breton confirmed these developments on Twitter, revealing his July 3rd meeting with the Japanese government
Belarus to ban peer-to-peer crypto transactions
Belarus is seeking to ban peer-to-peer crypto transactions, putting it on an extended list of countries that are unsatisfied with an unregulated crypto industry. The country’s Ministry of foreign affairs is working on a recommendation to prohibit some crypto activities there.
SEC debunks false allegations that Gary Gensler is resigning
SEC has communicated that Gary Gensler is not on the verge of resigning after rumors spread alleging that there had been an internal investigation. Gary Gensler has been receiving a lot of hate from the crypto space due to the extensive crypto crackdowns he has spearheaded with the SEC; as such, the rumor of his resigning does not come as a surprise.
South Korea passes crypto regulation bill that tackles unfair trading
A crypto regulation bill has been introduced in South Korea to protect its citizens from the exploitation of unfair cryptocurrency trade practices. The bill, Virtual Asset User Protection Act, was passed by the country’s National Assembly and is designed to provide more protection to South Koreans from illicit trading activities like undisclosed information and advertising, market manipulation, and other notable unfair practices.
Lawmakers in Canada propose a bill to support crypto industry
Canada has received a series of proposals that will directly impact the functioning of crypto organizations in the country. The proposals highlight the potential of blockchain technology in various sectors that also follow recommendations for the recommendation of the House of Commons or the government.