Google searches for Bitcoin (BTC) emanating from Turkey exploded in the past 24 hours, after the value of the Turkish lira dropped 14% following the firing of a central bank governor. According to data from Google Trends, the number of searches for Bitcoin spiked 566% in the hours immediately following news of the lira’s demise. The lira’s value dropped 14% in a flash dip after Turkey's President Erdogan fired the governor of the country’s central bank. Former governor Naci Agbal had been credited with pulling the lira out of historic lows, partly by raising interest rates to fight inflation. His …

On Dec. 22, 2020, the United States Securities and Exchange Commission filed a complaint against Ripple Labs. The complaint essentially alleged that Ripple had engaged in a multi-year, sustained practice of illegally selling unregistered, non-exempt securities in the form of its XRP tokens. This complaint, having been filed on the last day of former SEC Chairman Jay Clayton’s tenure at the commission, led to a considerable volume of public commentary, as is not unusual for SEC litigation against major players in the crypto space. What is unusual about SEC versus Ripple is the reaction from a sizable segment of XRP …

According to Dan Held, growth lead at Kraken, Bitcoin (BTC) is currently experiencing a supercycle that could propel it all the way to $1 million. In Held’s view, this market cycle is fundamentally different from previous ones. “This is a one in a hundred year moment,” he said, mentioning the coronavirus crisis, growing distrust in financial institutions and central bank money-printing as catalysts of the current crypto bull market. “People aren't just in it for a speculative run anymore. People are buying it because they see Bitcoin's value,” he explained. Held is also convinced that once Bitcoin reaches its full …

The Pakistani province of Khyber Pakhtunkhwa, or KP, has formed a federal committee to create a new cryptocurrency policy including government-backed crypto mining. As part of the new policy, the KP Crypto Advisory Committee has already decided to pilot two hydroelectric-powered crypto mining farms, a minister overseeing the policy told Reuters. The committee held its first meeting on March 17, Zia Ullah Bangash, advisor to the provincial government on science and technology announced on Twitter. “The KP Government on the directions and guidance of chief minister Mahmood Khan is taking serious steps regarding cryptocurrency and mining. We’re consulting with all …

Russian President Vladimir Putin has stressed the importance of developing additional measures to fight against illegal cross-border transactions of digital financial assets. Speaking at a board meeting of the General Prosecutor’s office Wednesday, Putin stated that “criminal elements have been increasingly deploying digital financial assets,” which needs special attention from the government. “There is one more point — quite new, but essential: we should take additional measures to suppress illegal cross-border movement of digital financial assets,” Putin said. The President ordered local enforcement as well as the Federal Service for Financial Monitoring, or Rosfinmonitoring, to give all their attention to …

The European Securities and Markets Authority, the European Union's independent financial authority, has warned about the high risk of cryptocurrency investment. In its latest “Trends, Risks and Vulnerabilities” report published Wednesday, the ESMA analyzed the impact of COVID-19 on financial markets, highlighting the increased risks linked with investment in “non-regulated crypto-assets.” The authority mentioned that crypto assets saw a massive surge in value and trading volumes during the second half of 2020, with Bitcoin reaching all-time highs. The ESMA stated that the surge was driven by “positive newsflows in the crypto sector,” including PayPal’s move to roll out its crypto …

Member states of the Eurasian Economic Union, or EAEU, have been struggling to come up with a shared stance regarding cryptocurrency regulations, according to an official. Iya Malkina, assistant chairman of the Eurasian Economic Commission Board, stated that EAEU member states did not support a recent initiative for a uniform cryptocurrency regulatory framework within the union. In a press briefing Wednesday, Malkina explained that the Eurasian Economic Commission received several proposals to synchronize regulations in the industry of blockchain and crypto. The EEC also recommended developing a basic uniform regulatory framework within the EAEU with a single glossary and principles. …

Lawyers negotiating on behalf of Arthur Hayes, one of four BitMEX executives and co-owners accused of violating the Bank Secrecy Act by United States authorities, have finalized the terms of his proposed voluntary surrender to a Hawaii court on April 6. As a letter submitted to the Southern District Court of New York outlines, the counsel's negotiations with the government on behalf of Hayes began shortly after his indictment was unsealed in October 2020. The proposed bail conditions, which are subject to the court's approval, stipulate that Hayes, who has lived in Singapore since January 2020, would potentially be released …

The Belarusian government has proposed to appoint the High Technologies Park Administration as a supervisory authority for local crypto exchanges and digital tokens, First Deputy Prime Minister Nikolai Snopkov announced on Tuesday. “The government has proposed to make the Administration of the Hi-Tech Park a supervisory body for crypto-exchanges and digital tokens. The President supported the government’s idea. I believe that such a decision will be made shortly,” Snopkov said. According to Snopkov, the government is currently trying to choose an appropriate government agency to supervise local crypto platforms in line with pan-European rules. Snopkov said, “It is logical that …

The minister of finance of India, Nirmala Sitharaman, has given a ray of hope for the Indian cryptocurrency community as more fear, uncertainty and doubt circulate regarding a supposedly impending ban on digital assets. In a Saturday interview with India Today, Sitharaman emphasized that the ministry does not plan to shut off Indian innovations associated with Bitcoin (BTC) and its underlying blockchain technology. “From our side, we are very clear that we are not shutting all options off. We will allow certain windows for people use, so that experiments on the blockchain, Bitcoins or cryptocurrency [...] and fintech, which depend …

In these hyper-partisan times, any bill that includes sponsors from both sides of the aisle is noteworthy. There is one pending now that is particularly important in the crypto space. On March 8, 2021, H.R. 1628, the Token Taxonomy Act of 2021, was introduced by representative Warren Davidson. It was co-sponsored by representatives Ted Budd, Darren Soto, Scott Perry and Josh Gottheimer. Terms of the Token Taxonomy Act of 2021 Among other provisions, the bill would exempt “digital tokens” from the definition of security, and it would also preempt inconsistent state regulation. Crypto assets would need to meet certain specified …

A Twitter account named “$1200 Stimulus Is Now Worth” has been tracking how much the first US $1200 stimulus would be worth if you invested in Bitcoin when the funds were sent out from April 15, 2020. The passing of the first $1200 stimulus bill in April last year corresponded with a huge bull run in the cryptocurrency and stock markets. Bitcoin was sitting at $6,848 on April 15, and if you had invested the $1200 stimulus then it would now be worth $10,211 at today's prices of roughly $56,000. The return on investment is 751% You’d have over $10,000 …