The energy-intensive Proof of Work methods of validating transactions on the blockchain is facing critical backlash in 2022. Although the backlash was not among the reasons behind The Merge of Ethereum, it has been completed successfully since 15th September 2022. Hereon, the Ethereum blockchain no longer relies on pow crypto mining activities to validate transactions […]
The Merge of the ETH network has caused a ripple (no pun intended) across various industries, which critically impacts the crypto mining industry. Until 15th September 2022, the virtual digital asset or ETH crypto was the top POW crypto to mine compared to others. However, the crypto mining profitability of Ether (ETH) was zeroed by […]
Crypto News: Indian Government is already preparing its legislation on crypto regulations, but central authorities await a cross-border FSB crypto regulation framework. The union government of India awaits an internationally feasible solution by FSB regarding crypto transactions. The global FSB (Financial Stability Board) is an international committee of 68 member institutions from globally prominent countries. […]
Crypto News: ED of India has been searching crypto firms for operations and business practices violating FEMA regulations. However, a CoinSwitch spokesperson clarifies ED search is not regarding money laundering. A Tweet by the Founder of CoinSwitch reveals the ED search does not concern Money Laundering under PMLA. Bengaluru ED is reportedly the body searching […]
Crypto News: The Enforcement Directorate of India has launched an investigation into the Coin Switch Kuber Platform. The government agency is also searching the firm’s premises for the possibilities of connection with FEMA breach activities. A spokesperson for the firm mentions that they had received inquiries from several government agencies, and their approach will remain […]
Crypto News: The securities division of the global electronics and smartphones manufacturer Samsung is eyeing the development of its native Crypto Exchange Platform! The launch may happen by early 2023! Samsung Securities investment firm has worked with the Smartphone division to offer Galaxy mobiles with crypto wallet compatibility. Samsung Electronics has developed a TV with […]
Crypto News: A report states Coinbase will offer wrapped ETH tokens that users can withdraw, stake, and more! Ahead of the Ethereum 2.0 Merge, Coinbase launches its ERC-20 tokens called Coinbase Wrapped Staked ETH (cbETH). Users would be able to convert their ETH2 tokens into cbETH and earn incentives on staked ETH tokens. The Merge […]
Crypto News: The increasing fraudulent crypto projects and rug pulls can be spotted based on specific patterns – CEO of India Blockchain Alliance! Notable members and personalities from the Indian Crypto industry reveal tell-tale signs of Crypto Fraud to caution Indian investors. The Founder and CEO of the Alliance point out specific markets of crypto […]
Crypto News: Tether will publish its proof-of-reserve or Collateral reports on a monthly basis from August onwards. The announcement was made on a social media platform, which adds that BDO Italia will handle accounting operations for the firm. Releasing collateral reports will help to increase the transparency of the USDT stablecoins. ยป Tether Picks BDO […]
Crypto News: Rising crypto hacks have increased the requirements for hiring Crypto Security Experts within the employment sector. Some of the firms are paying up to and over $400,000 to experts to secure their assets. The Chainalysis report for 2022 reflects $2 billion in losses caused by crypto hacks in cross-blockchain protocols. Several experts cite […]