Crypto Biz: Consolidation ramps up among crypto firms

China has opened testing for its digital yuan. The excitement surrounding this project has electrified several major Chinese cities, as well as onlookers throughout the world.Most recently, Shenzhen launched its “iShenzhen” lottery, wherein the city government will distribute 20 million digital yuan among 100,000 central bank digital currency, or CBDC, wallet holders. This comes on…

Over the past week, astute crypto market analysts noticed some interesting developments related to the supply of Ether (ETH) as the network's August 4 London hard fork approaches.Recent data from CryptoQuant, an on-chain analytics firm, indicates that the amount of Ether held in cryptocurrency exchanges' reserves has hit new daily lows since the start of July.Ethereum…

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.Market data is provided by the HitBTC exchange.Discussions on blockchain and cryptocurrencies have entered the United Nation’s General…

Local crypto businesses pushed for a reduction in the 1% TDS to 0.01% to revive its customer base.

In episode 19 of Hashing It Out, Ambire founder and CEO Ivo Georgiev explained a new technology aiming to bring increased flexibility and security to the Ethereum network. 369 Total views 2 Total shares In episode 19 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks to Ivo Georgiev, CEO of Ethereum smart contract…

Purchasing crypto with fiat or any “unrealized appreciation” are not taxable events according to Thomas Shea, an EY crypto tax executive. 249 Total views 26 Total shares While many refer to crypto as the “Wild West,” some believe that this may only continue for a little longer.Thomas Shea, crypto tax leader at EY Financial Services,…

The United States subsidiary of major European crypto exchange Bitstamp has been granted a virtual currency license from New York state’s financial regulator, according to an official press release from the New York Department of Financial Services (NYDFS) on April 9.The license, known as a BitLicense, has been awarded by the NYDFS to Bitstamp USA…

The exchange reported receiving approval for Bitcoin Services Provider and Digital Assets Services Provider licenses in El Salvador, where Bitcoin has been legal tender since 2021. 73 Total views 5 Total shares Global cryptocurrency exchange Binance has reported being granted licensing to provide services to residents of El Salvador.In an Aug. 8 announcement, Binance said…