Effective from April 1, Coinbase users from Canada, Singapore and Japan will be required to provide additional information while sending cryptocurrencies to a different (non-Coinbase) platform. Continue Reading on Coin Telegraph More
Beckham will release a series of NFTs and “other Blockchain-based digital assets,” according to the brand ambassador announcement, with minting taking place on the DigitalBits blockchain.Continue Reading on Coin Telegraph More
The trade balance – chronically negative in import-reliant Turkey – will get some relief from foreigners, including Russians buying real estate, the Wall Street bank said.But “these inflows will fall short of financing the growing current account deficit, and both (official foreign currency) reserves and the Turkish Lira will come under pressure,” it said.High commodity prices would make “the adjustment of Turkey’s current account more difficult rather than easier,” it added. “We now forecast the Turkish current account deficit at 4.0% (previously 2.5%) of GDP in 2022,” and it could be more “should the authorities once again resist a slowdown in domestic demand and push for growth,” Goldman said. Turkey imports virtually all its oil and gas needs and has seen costs soar as Russia’s invasion of Ukraine prompted sanctions that sent commodity prices soaring. It also relies heavily on Russia and Ukraine for grain imports. That has jeopardised the unorthodox economic programme adopted by President Tayyip Erdogan that is based on low interest rates, higher production and exports to achieve a current account surplus. Erdogan said this week it would be ambitious to expect a serious rise in tourism this year, in a nod to the impact of the war.The central bank’s rate cuts to 14% have left real rates deeply negative given that inflation has soared to 54%. Inflation is expected to hover above 60% for much of the year. “At this point, we do not expect them to hike the official policy rate,” Goldman said. But the bank “will eventually need to respond, and will possibly do so through new instruments, macroprudential measures, tightening through other channels or other heterodox measures.” More
Starting Friday, Korean exchanges will flag any crypto transfers worth more than roughly $821. Transfers higher than that value will be restricted to user-verified wallets, with a select number of exchanges adopting their Anti-Money Laundering (AML) system. Continue Reading on Coin Telegraph More
The reveal appears to either be an eye-watering — but possibly fake — flex, or a crafty bit of product placement, as a cold storage device from crypto wallet provider Ledger is featured prominently in the video. The social team from Ledger was on it immediately too:Continue Reading on Coin Telegraph More
Web3, a term coined by Gavin Wood, Web3 Foundation president, is the next phase of the internet and, perhaps, of organizing society as a whole. Web1 was the era of open, decentralized protocols, where most online activity involved browsing individual static pages. Web2, which we are now experiencing, is the era of centralization, in which a large part of communication and commerce occurs on captive (closed) platforms and is owned by a handful of technology corporations, subject to centralized control by regulators and government agencies.Continue Reading on Coin Telegraph More
On Friday, India’s lower house of parliament, the Lok Sabha, passed the 2022 Finance Bill, which included 39 amendments proposed by Sitharaman. The amendment on crypto established a 30% tax targeting digital asset and nonfungible token transactions and did not allow for deductions from trading losses while calculating income. In addition, taxpayers in India will have an additional 1% tax deducted at source, or TDS.Continue Reading on Coin Telegraph More
Ethereum Classic is the original, unaltered version of ETH. After the famous hack of 2016, the Ethereum Foundation launched a new form of the ETH mainnet. However, some miners stuck to the original ETH codes, starting the Ethereum Classic projectAnd unlike Ethereum, looking to migrate to a proof-of-stake (PoS) consensus model, Ethereum Classic remains ETH’s original proof-of-work (PoW) status. So, why has this unaltered version of Ethereum been outperforming every cryptocurrency in the market?Recent Developments and Future EventsFollowing a smooth completion of Ethereum’s Merge on the Kiln Testnet, ETH miners are already looking to migrate with their expensive machines to other networks, With Ethereum Classic looking to become the biggest beneficiary.Developers of Ethereum Classic look all but ready to welcome “Disenfranchised Ethash Miners.” The Ethereum Classic team also announced that ETC is now compatibility with the Ethereum Virtual machine, meaning ETH dApps can port over to ETC.On March 18, Ethereum Classic published a blog, “Ethash Miners: Migrating to ETChash Post ETH Merge.” An excerpt from the blog reads;Anticipating an influx of miners, Ethereum Classic has announced that its block rewards will be reduced by 20%. The process, which has been dubbed the “fifthening,” by miners, will see ETC’s block reward drop to 2.56 ETC per block.Before the migration of miners to Ethereum Classic took center stage, the project announced that it can now be directly converted to fiat using Payment gateway NOWPayments_io. Buyers and sellers using NOWPayments can accept both $ETC and fiat, without any stress.Ethereum Classic has also been growing its ecosytem, supporting the growth of dapps, DEXs, DeFi, and NFTs on the network. In late February, decentralized exchange, HebeSwap launched on the ETC network, with its wallet supporting up to 100 chains.Price UpdatesThe speculation that Ethereum miners would be migrating to Ethereum Classic has driven the price of ETC to new highs. Over the last 24 hours, ETC has gained 11% and over 80% in the last seven days.The 24 hours price chart of Ethereum Classic (ETC). Source: TradingviewIts 80% gains over the past week dwarf those of other top 50 cryptocurrencies. Ethereum Classic’s recent gains have seen the token set a new 4-month trading high at $50.37. The seven days price chart of Ethereum Classic (ETC). Source: TradingviewETC now trades at $48.677 and is ranked as the 28th largest crypto, with a market cap of $6.5 billion.On the FlipsideCommunityExpectations of the migration of ETH miners to the Ethereum Classic network has caused a arejuvenation in the ETC community. Ethereum Classic community are sharing their bullish expectations for the ETC coin.Popular crypto analyst, Frank Nii Okanta Ankrah, wrote about ETC;Gaining additional miner support from Ethereum’s merge would improve the security of the Ethereum Classic network and could potentially boost the price of ETC coin as broader ranks of miners hold and trade it.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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