Bali Warns Tourists Who Pay Using Crypto
The government in Bali has warned tourists and businessmen who pay for various services using crypto. Kompas, a local news publication reported that tourists were paying for services like meditation practices, motorbike rentals and even food using cryptocurrency. The authorities have said that there will be serious penalties like hefty fines or one year of prison. This decision was taken …
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Peter Schiff Goes From Bitcoin Hater to NFT Art Collector
Peter Schiff, a renowned adversary of digital currencies, is gearing up to release a set of NFT artworks called Bitcoin Ordinals. The collection will showcase a unique Ordinal that is integrated into the Bitcoin blockchain, along with a painting named “Golden Triumph“, which showcases a picture of a human hand clutching a gold bar. The collection will be auctioned in …
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Metaverse’s Virtual Lands in Crisis as Prices Plummeting in 2023
Landowners within the Metaverse are currently facing a challenging period, with land values plummeting by 80-90% since the previous year. The decline is attributed to the waning interest in the Metaverse sector and the ongoing downturn in the cryptocurrency market. The average price for virtual land parcels in the six major Ethereum metaverse projects has dropped from roughly $17,000 in …
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Korean Parliament Recognizes Virtual Assets as Legitimate Property in Assets Disclosure Bill
A new bill has been approved by South Korea’s National Assembly, mandating high-ranking government officials and legislators to disclose their virtual assets in an assets report. The amendment to the Public Service Ethics Act now also covers virtual assets, such as cryptocurrencies, that were previously excluded from the assets report. The bill, approved on May 25, 2023, aims to enhance …
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Binance Shocks Market with Removal of Australian Dollar Trading Pairs
The largest crypto exchange in the world, Binance, has declared that it plans to eliminate various trading pairs associated with the Australian dollar (AUD) from its platform on May 26, 2023. The move comes amid a range of issues, including PayID withdrawals and license cancellations. However, Binance has not provided any specific reasons for the removal of these trading pairs. …
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Bitcoin Soars as the Second-Largest NFT Chain
Bitcoin’s presence in the non-fungible token (NFT) space has skyrocketed. Based on data from CryptoSlam, Bitcoin now proudly sits as the second-largest NFT chain. In the span of the past 30 days, the digital currency has seen a surge, raking in approximately $168.25 million from NFT sales alone. Bitcoin Climbs, Yet Trails Behind Ethereum However, despite its impressive leap, Bitcoin …
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Malaysian Regulators Demand Huobi Global to Stop Operations
Huobi Global has been advised by the Securities Commission of Malaysia to stop all operations in the country. According to the regulators, the company has failed to register as a cryptocurrency exchange due to which this decision has been taken. The regulators have also directed the company to remove its applications from the Play Store as well as Apple App …
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Supreme Court Backs Law Adaptation in SEC Vs Ripple Case
Ripple’s legal battle with the Securities and Exchange Commission (SEC) regarding the cryptocurrency XRP has received a major boost, thanks to the US Supreme Court’s decision to support Ripple’s argument. This decision could have far-reaching implications for Ripple and the broader cryptocurrency industry, as the court recognized the need for legal principles to adapt to the changing times. Ripple Gets …
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XRP Ledger Clinches Spot in Top 10 NFT Platforms, Minting Over 1.4M NFTs
In a surprising turn of events, the XRP Ledger (XRPL) has joined the elite league of the top 10 non-fungible token (NFT) blockchains. This milestone comes just six months after the launch of its native NFT feature, XLS-20, in October last year. Rapid Growth in Half a Year The speed of XRPL’s achievement is nothing short of impressive, with more …
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LG’s Trailblazing Idea: A Blockchain-Integrated Smart TV
Global electronics giant, LG, based in South Korea, has recently made headlines by applying for a patent for a groundbreaking smart TV that incorporates blockchain technology. Unlike any other TV in existence, this advanced device would enable users to trade non-fungible tokens (NFTs) right from their couches. This intriguing patent surfaced in the World Intellectual Property Organization (WIPO) database last …
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