Islamic Coin: The first Sharia-compliant cryptocurrency

As blockchain technology slowly gains adoption around the world, the global Muslim population to get their first cryptocurrency ecosystem that abides by the principles and traditions of Islam with the launch of the Islamic Coin ($ISLM), the native coin of

US SEC sues crypto platform Coinbase just a day after suing Binance

NEW YORK: The U.S. Securities and Exchange Commission on Tuesday sued Coinbase (COIN.O), accusing the largest U.S. cryptocurrency platform of operating illegally because it failed to register as an exchange. The lawsuit is the SEC’s second in two days against

Russia scraps plans for national cryptocurrency exchange

MOSCOW: The Russian government has scrapped plans for a regulated national cryptocurrency exchange as the government wants to regulate several crypto trading platforms. In November 2022, the government began considering plans for a national cryptocurrency exchange, but Russian lawmakers have

Binance Australia customers selling bitcoin at a discount

SINGAPORE: Bitcoin prices on the Australian arm of Binance, the world’s largest crypto-currency exchange, were at a 20% discount to rival exchanges on Tuesday, in a sign customers were seeking to exit their positions quickly. The price of the world’s

North Korea stole $721m worth of cryptocurrency from Japan: Report

TOKYO: A North Korean group has been involved in the hacking of millions of cryptocurrencies in Japan. A Japanese newspaper ‘Nikkei’ stated in a report that since 2017, hackers affiliated with North Korea have stolen 721 million worth of crypto

Cryptoverse: Busy bitcoin births new breed of crypto

Things are heating up on the bitcoin blockchain. Daily transactions have rocketed to an all-time high of 682,000 this month, according to data from Glassnode, almost 40% higher than the previous peak in 2017. Bitcoin’s dominance, or its share of

EU adopts world’s first comprehensive crypto law

LONDON: EU member states have adopted the world’s first comprehensive crypto law. The draft was sent to the EU Parliament after the EU finance ministers meeting in Brussels approved the rules, which are expected to come into force in 2024.

EU states approve first complete set of crypto rules

The world’s first complete set of laws to regulate crypto assets received final approval from European Union states on Saturday , building pressure on nations like Britain and the United States to play catch-up. Regulations were hammered out with the

Crypto should be regulated like gambling, demand UK lawmakers

Cryptocurrency investments in Britain should be regulated like the gambling industry, UK lawmakers said Wednesday. The plea, from parliament’s powerful cross-party Treasury Committee, came one day after EU ministers agreed on tougher tax rules for crypto transactions. Global authorities are

Islamic Coin launches as first halal cryptocurrency ecosystem for Muslims

Haqq, a blockchain ecosystem that strictly follows Islamic traditions and principles, has launched Islamic Coin ($ISLM), the first cryptocurrency ecosystem for the global Muslim population. The new token will offer a 100% halal cryptocurrency platform, which has already received accreditation

Bitcoin could hit $100,000 by end-2024, Standard Chartered says

LONDON: Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered (STAN.L) said on Monday, saying that the so-called “crypto winter” is over. Bitcoin could gain from factors including recent turmoil in the banking sector, a stabilisation

Ether jumps to 11-month high in wake of software upgrade

SINGAPORE: Cryptocurrency ether leapt more than 5% in early Asia trade on Friday as traders breathed a sigh of relief that a software upgrade this week ran relatively smoothly. The second-biggest cryptocurrency by market capitalization, ether rose to as high

Cryptocurrency reaches its highest level of year

The price of the cryptocurrency Bitcoin has risen to a record high, reaching its highest level this year. Bitcoin has crossed the $30,000 mark for the first time in 10 months. It has been seen for the first time since

Singapore working with banks to provide guidance on crypto businesses

Singapore’s central bank and police authorities have been helping banks to set uniform standards for fine-tuning their vetting approach when opening crypto accounts. The project has been ongoing for about six months, the Bloomberg story said. A separate industry report

US arrests Russian founder of China-based crypto exchange

WASHINGTON: The US has arrested the Russian founder of a cryptocurrency exchange based in China. The Russian founder of a China-based cryptocurrency exchange has been arrested for disrupting an online platform used by the darknet, according to US authorities. Read

Cryptocurrency surges as Musk changes Twitter logo to ‘meme dog’

PARIS: A meme-inspired cryptocurrency’s price jumped on Tuesday after Elon Musk changed the bluebird logo of Twitter to a dog associated with the digital token, despite the mogul being sued over his previous promotion of the coin. Musk bought Twitter

Bitcoin profits are taxable in certain cases, says Denmark’s supreme court

The Justices of the Supreme Court of Denmark have handed down two judgements on whether the sale of Bitcoin tickers down $28,198 under certain circumstances qualifies as a taxable event. In a March 30 notice, Denmark’s Supreme Court said a

ChatGPT joins crypto hype, sets Bitcoin price at $300,000 by 2030

After venture capitalist and former CTO at cryptocurrency trading platform Coinbase Balaji Srinivasan made a shocking claim that Bitcoin (BTC) could reach the price of $1 million in the following three months, many in the crypto community became intrigued, wondering

Cryptoverse: Buoyant bitcoin’s losing its liquidity

Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger wild price swings. The price of the No.1 cryptocurrency has

Bitcoin has benefited from U.S. dollar liquidity to support banks: Morgan Stanley

Expectations of increased U.S. dollar liquidity to support the banking sector following a string of forced closures has helped bitcoin (BTC) rally, but other factors are also at play, Morgan Stanley said in a research report. Bitcoin, the world’s largest

Bitcoin is poised to blow up Africa’s $86 billion banking system

ACCRA, GHANA — Block CEO Jack Dorsey and his top brass descended on Accra for the inaugural Africa Bitcoin Conference in December to talk about one of the most potentially disruptive and transformative alternatives to the continent’s existing financial system:

FTX reaches deal to recover over $400mn from hedge fund Modulo

Bankrupt crypto exchange FTX has reached a deal to recover more than $400 million in cash from hedge fund Modulo Capital, pulling back 97% of the money that FTX companies sent to the hedge fund in 2022, according to court

Bitcoin holds steady at $28K before US fed meeting

After surpassing $28,000 for the first time in nine months, bitcoin traded between $27,300 and $28,350 over the past 24 hours, as investors await a decision by the Federal Reserve on interest rates on Wednesday. Traders are predicting a 25

Bitcoin climbs to 9-month high as bank turmoil sparks rally

LONDON/HONG KONG: Bitcoin climbed to a nine-month high on Monday as turmoil in the banking sector drives some investors to turn to digital assets, as the cryptocurrency built on its best week in four years. The biggest cryptocurrency rose as

Bitcoin levels to watch as BTC price eyes highest weekly close in 9 months

Bitcoin tickers down $28,064 approached a key weekly close on March 19, with traders concerned about a retest of lower levels. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,000 on Bitstamp. After briefly tapping $28,000 into the

Bitcoin jumps to highest since June as rally gathers pace

LONDON: Bitcoin hit a nine-month high, taking gains past 30% in four days as it shrugged off chaos in global markets after last week’s collapse of Silicon Valley Bank and rode expectations that U.S. interest rates won’t rise so fast.

Major crypto coins stabilise after U.S. intervenes on SVB collapse

LONDON: Major cryptocurrencies stabilised on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar. U.S. authorities

Major crypto coins stabilise after U.S. intervenes on SVB collapse

LONDON: Major cryptocurrencies stabilised on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar. U.S. authorities

Cryptocurrency chaos: Silicon Valley Bank collapse triggers USDC crash

NEW YORK: The cryptocurrency known as USDC, which was believed to be a stable coin, experienced a significant decrease in value after Circle, the company that created it, revealed that it held $3.3 billion in the now-failed Silicon Valley Bank (SVB) and could

Crypto-focused bank Silvergate plans to wind down following blow from FTX

 Crypto-focused bank Silvergate Capital Corp (SI.N) said it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, sending its shares down 35% in after-hours trade. The decision