📌EToro SPAC Deal For Public Listing Cancelled As Transaction Becomes 'Impracticable'
EToro (eToro) and its SPAC partner have mutually agreed to call off a planned takeover. The decision was taken mutually with FinTech Acquisition Corp. V. The trading platform, eToro's planned public listing through a merger with a special purpose acquisition company (SPAC), FinTech Acquisition Corp. V has been terminated. The firm announced on Tuesday, July 5, 2022.
📌BSV Blockchain Association Partners With Domineum Blockchain To Host Developers Summit In Nigeria
BSV Blockchain Association is sponsoring the first-ever two-day Developers Summit in Abuja, Nigeria, run by Domineum Blockchain Solutions Ltd, the ledger technology company providing blockchain-as-a-service solutions. The event will take place at Baze University in Abuja, Nigeria, from 21 July 2022 to 22 July 2022. The summit will provide an avenue for big announcements, new product launches, core tech updates, keynote speeches, panel discussions, pitching sessions, and fireside chats with global industry leaders for more than 1,000 participants in attendance. The theme of the summit is tagged 'Stimulating Blockchain Adoption in Nigeria'.
Source: PRNewsWire https://www.prnewswire.com/news-releases/bsv-blockchain-association-partners-with-domineum-blockchain-to-host-developers-summit-in-nigeria-301580572.html
📌British Army’s Social Accounts Hacked
On Sunday, 3rd July 2022, hackers took control of the British Army’s official social media accounts, using them to promote fraudulent NFT collections and crypto scams for more than four hours.
Crypto scams and hacks have affected billions of individuals worldwide over the past several years, increasingly becoming an everyday occurrence.
Source: Bitcoinist https://bitcoinist.com/crypto-scammers-hacked-british-armys-social-accounts-to-promote-frauds/
📌Argentines Turn Towards Stablecoins As Economy Minister Quits
Stablecoins are now drawing the attention of people in Argentina after a top cabinet official resigned.
As a result of the departure of Argentina’s economy minister in the face of a continuing economic calamity, Argentines ramped up their purchases of stablecoins throughout the weekend as they normally do. The cost of purchasing Tether’s stablecoin USDT using Argentine pesos increased significantly after the resignation of Economy Minister Martn Guzmán on Saturday.
Source: Bitcoinist https://bitcoinist.com/stablecoins-attractng-argentines/
📌Russians Banned From Accessing Bitmex Within European Union
Russian citizens or residents will no longer be able to access BitMEX services from the European Union after July 11, 2022. A major cryptocurrency exchange, BitMEX is working to increase compliance with the European sanctions against Russia by preparing to enforce major restrictions on its Russian users.
Cointelegraph reports that BitMEX is changing its restricted jurisdictions policy to be compliant with various restrictive measures of the European Union.
Source: Cointelegraph https://cointelegraph.com/news/russians-banned-from-accessing-bitmex-within-european-union
📌Bitcoin Under Fresh Pressure As US Dollar Crushes Gold, Risk Assets
Bitcoin (BTC) hit daily lows on the July 5 Wall Street open as the U.S. dollar saw a violent surge. Data from Cointelegraph, Markets Pro, and TradingView shows BTC/USD retreating to $19,281 on Bitstamp as the Independence Day long weekend concludes with a bump.
The pair had seen last-minute gains the day prior, these fizzling as the return of Wall Street trading was accompanied by USD strength laying waste to gains across risk assets and safe-havens.
Source: Cointelegraph https://cointelegraph.com/news/bitcoin-faces-fresh-pressure-as-us-dollar-crushes-gold-risk-assets
📌Singapore Eyes More Regulation To Shield Retail Investors From Crypto Winter Fallout
The Monetary Authority of Singapore (MAS) is considering new regulations to protect retail investors after the crypto market crash has led to the collapse of several crypto firms.
According to the regulator, the new rules being considered include “placing limits on retail participation, and the use of leverage when transacting in cryptocurrencies.”
MAS continued that there is a need for global collaboration to better police the crypto industry, due to the ‘borderless nature’ of its market.
Source: CryptoSlate https://cryptoslate.com/singapore-eyes-more-regulation-to-protect-retail-investors-from-crypto-winter-fallout/
📌UK Financial Regulator Hires Former Police Officer To Head New Crypto Unit
The U.K.'s Financial Conduct Authority is expanding staff as it struggles with new crypto challenges. The U.K.'s Financial Conduct Authority (FCA) has tapped Matthew Long to lead a new crypto and payments unit, the regulator announced Tuesday 5 July 2022. Matthew Long will be responsible for payments and digital money at the Financial Conduct Authority.
📌The Paris Blockchain Summit Slates 8th July 2022 For Its Mainstream Edition
Despite today’s bear market, the demand for blockchain and crypto skills from companies continues to grow.
On July 8, 2022, those interested can position themselves in the sector with the Mainstream edition of the Paris Blockchain Summit (PBS).
As in previous editions, the PBS brings together the international ecosystem in a single location to discuss the future of blockchain technology.
Source: Cointelegraph https://cointelegraph.com/press-releases/the-paris-blockchain-summit-is-back-for-its-mainstream-edition-on-july-8th
📌U.K. Tax Authorities Seek Public Consultation On DeFi Tax Treatment
U.K. tax authority, H.M. Revenue and Customs (HMRC) opened a public consultation on the tax treatment of DeFi lending and staking on 5th July 2022.
The lead official in the inquiry, Alex Bosinceanu, called on U.K. DeFi stakeholders to submit evidence for a review on the topic. The consultation period will run for two months, from July 5 to August 31, 2022, after which a summary of responses will be published along with details on what happens next.
Source: CryptoSlate https://cryptoslate.com/u-k-tax-authorities-seek-public-consultation-on-defi-tax-treatment/
📌Spanish Crypto Holders To Be ‘Burdened’ With Fresh Crypto Declaration Rules
The Spanish government’s latest plan for the crypto sector is to make citizens who hold coins on overseas platforms declare their holdings.
As previously reported, an attempt to force Spaniards with coins on foreign exchanges or in overseas wallets to declare their holdings turned chaotic at the beginning of the year. The Treasury and the Agencia Tributaria (Spain’s tax body) were forced to abandon plans to make citizens list their crypto holdings on the much-vilified Modelo 720 form. The latter is a declaration of taxable assets, such as stocks and real estate that are held outside Spanish territory.
Source: CryptoNews https://cryptonews.com/news/spanish-crypto-holders-burdened-with-fresh-crypto-declaration-rules.htm
📌Ethereum Transaction Fees Dip To Lowest Since December 2020, While Bitcoin Fees Get Relatively Stable
The depressed state of the crypto market has also taken its toll on transaction fees. This has made Ethereum (ETH) fees now finally come down to lows not seen since December 2020. Bitcoin (BTC) fees, however, hover around the same low level they have been since the past year.
The low on Ethereum’s side was reached last Sunday, 3rd July 2022, when the median transaction fee dropped to USD 0.87, before rising slightly to USD 1.142 by Tuesday, 5th July 2022. The last time Ethereum transaction fees were lower than they were this week was 6th December 2020 when they dipped to USD 0.66 per transaction.
Source: CryptoNews https://cryptonews.com/news/ethereum-transaction-fees-dip-to-lowest-since-december-2020-bitcoin-fees-relatively-stable.htm
📌Huobi Eyes US Expansion With New FinCEN License
On 5th July 2022, Huobi announced that its subsidiary, HBIT, has received a license from the U.S. Financial Crimes Enforcement Bureau’s (FinCEN) Money Services Business Registration (MSB) to operate in the country.
According to the press release, the license provides a good foundation for the exchange’s digital currency-related businesses in the U.S.
Source: CryptoSlate https://cryptoslate.com/huobi-eyes-us-expansion-with-new-fincen-license/
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