The Tarjih Council and the Central Executive Tajdid of Muhammadiyah, one of the largest non-government Islamic organizations in Indonesia, issued a new fatwa against cryptocurrency use, deeming it haram, or unlawful, for Muslims. The fatwa, a ruling on the point of Islamic law, was issued on Tuesday and pointed towards two critical issues with cryptocurrencies
Month: January 2022
Binance CEO Changpeng Zhao, also known as “CZ,” claimed that the growing restrictions on crypto advertisement won’t impact the demand. During his interview with CNBC, CZ stressed that physical crypto advertisements and crypto ads, in general, have not had much impact on user growth, and it has only become common over the past few years.
In a report published on Thursday, The Central Bank of Russia has called for a blanket ban on domestic cryptocurrency trading and mining. The report titled “Cryptocurrencies: trends, risks, measures” compares cryptocurrencies to a Ponzi scheme and calls for a complete ban on their use throughout Russia. The authors claim that cryptocurrencies are highly volatile
Five industry experts appearing before the United States House Energy and Commerce Oversight Subcommittee had different views on how lawmakers should address the energy consumption of cryptocurrencies. In written testimony released before a Thursday hearing on “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains,” former Comptroller of the Currency Brian Brooks argued that the energy
The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for First Trust SkyBridge’s spot Bitcoin exchange-traded fund after several deferments. In a Thursday filing, the SEC rejected a proposed rule change from the New York Stock Exchange, or NYSE, Arca to list and trade shares of the First Trust SkyBridge
The U.S. Federal Reserve is opening comments to the public after releasing a discussion paper on the pros and cons of a potential central bank digital currency. In a publication released Thursday titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation”, the Fed said it would likely not be authorized to
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Crypto Twitter is a powerful place. Not only does the online discussion follow the ups and downs of digital assets, but it can also shape price action. Oftentimes, a spike in Twitter attention can anticipate a dramatic increase in an asset’s price. Yet, in other cases, the order can be reversed, or there may be
Bitcoin (BTC) investors seem uncomfortable with adding positions after the most recent 40% correction from the $69,000 all-time high made on Nov. 10. In addition to the prolonged downtrend, remarks from the United States Federal Reserve on Dec. 15 about rising interest rates are also weighing on risk-on assets. The Fed signaled that it could
Cross-chain compatibility with the Ethereum (ETH) network has become a necessary component for any layer-one protocol looking to remain relevant because a majority of projects and funds locked in smart contracts are found on the top-ranked smart contract platform. After years of development and promises of interoperability, the Polkadot network moved toward its first Ethereum
NFTs continue to surge with what looks to be no end in sight. Since January 14, 2022 OpenSea notched trading volumes over $1.03 billion, and its latest rival, LooksRare, has eclipsed the platform according to data from DappRadar. Top 8 NFT marketplaces by volume. Source: DappRadar What’s clear is that NFT collectors and traders appear
Ripple, in partnership with The Royal Monetary Authority of Bhutan, will start trials for a digital Ngultrum. The San Francisco-based company will integrate its distributed ledger technology into Bhutan’s existing payment system with the help of its CBDC Private Ledger product. Related Reading | Ripple and XRP: The Complete Guide The leading provider of enterprise
Bitcoin (BTC) has “at least one more upward impulse to come” before reaching this halving cycle’s all-time high, new research maintains. In a series of tweets about the current state of BTC price action, popular analyst TechDev argued that contrary to many opinions, there is nothing unusual about BTC/USD in 2022. Bitcoin in 2021: Nothing
Canadian businessman Kevin O’Leary laid out his plans to invest in mining company stocks. In an interview with Anthony Pompliano, Mr. Wonderful shared stories about his recent travels in the Middle East to find ways to invest in Bitcoin (BTC) mining. According to the Shark Tank mogul, investors in the Middle East are looking into
The Ethereum upgrade that introduced a partial network fee burning mechanism in August last year has launched on the layer-two scaling network Polygon. Ethereum’s EIP-1559 upgrade shipped with its London hard fork last summer and has been a success in terms of gas price predictability and network fee burning. The upgrade has now launched on
Bitcoin (BTC) hovered near $43,000 on Jan. 17 as “boring” price action combined with signs that the market could be stabilizing. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Leverage comes off all-time highs Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying firmly within its established trading range between $40,000 and $45,000. With few surprises
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