Get your everyday, bite-sized digest of cryptoasset and blockchain-related information — investigating the stories flying under the radar of the crypto news.
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Trading news
“With nuclear swaps, online users trade cryptocurrencies without having to trust each other or anybody else. Monero nuclear swaps are made possible by new technologies and concepts and are being executed by multiple teams, including a community financed software project named Farcaster and an algorithmically similar attempt from the COMIT team,” based on Monero Outreach.
CBDCs news
- Sweden’s central bank Riksbank stated it’ll work with commercial creditor Handelsbanken to test how the country’s proposed digital currency – the e-krona – could manage payments in the real world. “The e-krona pilot is therefore moving from only having simulated participants to collaboration with external participants in the evaluation environment,” Riksbank said.
Investments news
The business is already waiting for the acceptance of a BTC ETF. VanEck is the first provider to deliver its crypto ETPs to the Dutch and French stock exchanges, it added.
- A stage devoted to memes and trends called meme.com has raised USD 5m in a funding round led by Outlier Ventures, Digital Finance Group, Blockhype, and Spark Digital Capital, based on Tech.eu. Users will be able to mint”memetic tokens” predicated on the perceived worth of this fashion or meme they represent, and the best of each month will be rewarded with exceptional NFT art, it added.
Mining news
- A suspected BTC mining performance illegally stealing electricity has been discovered by police who were looking for a cannabis farm, BBC reported. Officers had been tipped off about the website about the Great Bridge Industrial Estate, Sandwell, also raided it on 18 May, West Midlands Police said, the report added.
Smart contracts news
- Electronic signature and arrangement cloud DocuSign has entered into a definitive purchasing arrangement of digital contracting platform Clause, the prior announced in a blog post. DocuSign will onboard most of the Clause team to work on particular services that align with the two companies’ visions of smart agreements.
- Cardano (ADA) programmer IOHK announced the successful launch of this initial testnet — Alonzo Blue – in the Alonzo update rollout. The Cardano system has started its transition in the Shelly Era to the Goguen Era, occurring through three upgrades: Allegra, Mary, and Plutus. The’Alonzo’ hard fork will integrate Plutus scripts onto the blockchain, enabling the execution of contracts in Cardano, and so the deployment of a vast selection of decentralized fund (DeFi) applications for the very first time, stated the programmers — allowing it to compete with other DeFi ecosystems.
- Bank of Japan Governor Haruhiko Kuroda stated that BTC is”barely used as a sort of compensation” and is chiefly speculative trading with very high volatility, Bloomberg reported. Kuroda added it is important to differentiate between cryptocurrencies and stablecoins that are endorsed by fiat and must meet certain legal requirements.
- US-based Mid-Atlantic restaurant and convenience chain Sheetz stated it’ll enable crypto payments via digital payments network Flexa. Sheetz intends to start accepting crypto at pick Sheetz Cafe Stores after this summer with a planned roll out later in the year for approval at Sheetz’s gas pumps too.
- The Australian Taxation Office (ATO) will be requesting around 300,000 crypto investors to report their profits and losses in their 2021 tax return, in addition to prompting around 100,000 taxpayers to review their previously lodged yields, news.com.au reported. The ATO is warning it isn’t a fact that crypto assets are taxable only when converted into fiat, and they are treated as assets rather than currencies under Australian law, which means they are subject to capital gains tax and must be reported.
Legislation news
- The Central Bank of Nigeria (CBN) is looking into regulating cryptocurrency trading from the nation, its own Governor Godwin Emefiele stated, based on Business Insider. “We’re committed in the CBN, and I can assure everybody that digital currency will come to life in Nigeria,” the Governor was quoted as saying. As mentioned, ministries and authorities are eager to pass the buck and avoid having to deal with the political heat involved with governing the business. But per a report from Segye Ilbo, the impasse has finished with all the regulatory Financial Services Commission set to authorities crypto companies, the Ministry of Science and ICT charged with promoting the blockchain sector and bolstering safety and the police force set to focus on crypto-related crime prevention. The Ministry of Finance, the Fair Trade Commission, the tax agency, and the Korea Customs Service will also be given minor regulatory roles.
- The Colombian crypto exchange SeSocio said that it intends to reach around 145,000 monthly active customers from the end of 2021, reported Semana. The trading system also provided demographic information about its customers, saying that its average customer age is 36 and invests a mean total of USD 700 on crypto purchases. The business added that many of its clients are wage-earners, rather than large-scale shareholders, and that a number of them work in”lower and middle strata” jobs and industries. The platform states it has 17,000 banked customers up to now.
NFTs news
It’s expected to fetch up to USD 180,000. Nam expired in 2006, but his nephew, who owns the copyright to the movie work (that has been shown in the Tate Modern and the Guggenheim) has been quoted as saying that the artist could have been “positive” about NFTs, as they supply the “opportunity to sell and work outside of traditional spaces such as galleries.”
Scam news
- The Dubai Media Office, part of the Government of Dubai, cautioned that the emirate does not possess its own official cryptocurrency as a scam with that claim seems to be circulating. “The site promoting the coin is an elaborate phishing campaign that’s intended to steal personal information from its visitors,” the office added.
