Schlagwort: crypto business

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Japan’s FSA orders crypto exchanges to adhere to the imposed sanctions

On Monday Japan’s Financial Services Agency (FSA) together with the Ministry of Finance ordered Crypto exchanges to stop processing transactions involving sanctioned assets, individuals, or entities in sanctions leveled against Russian and Belarus after Russia invaded Ukraine.

This order came to effect after Group of Seven (G7) nations (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) noted that Russians had started utilizing digital assets. They stated that they will be very strict with the illegal Russian actors who are trying to use their digital assets to transfer and enhance their wealth.

The use of Cryptocurrencies by Russia to be around sanctions because it invaded Ukraine has become a rising issue among the G7 major countries, Germany, Canada, United Kingdom, Japan, France, United States, and Italy.

On Friday, the US Treasury Department asked all the crypto businesses in the United States to adhere to the new guidelines that prohibited them from doing transactions with sanctioned entities and individuals.

Law violators

To make the new rules effective and strictly adhered to, the FSA and the Ministry of Finance made a joint announcement where they revealed the new steps that will be followed to prevent funds transfer using crypto assets that violate penalties.

Japan has been slow in adopting rules and regulations to be used on private digital currencies, however, G7 and G20 countries stood in the gap and urged for more regulations of Stablecoins.

Japan’s FSA said that any unauthorized transfer to sanctions-related targets via crypto assets will be termed as a criminal offense and will lead to 3-year imprisonment or a cash bail of 1 million yen ($8,487.52). As of 4th March, 31 crypto exchanges were operating in Japan.

However, in all these discussions, the European Union (EU) has been acting as a guest with representation by the European Commission and the European Council.

The post Japan’s FSA orders crypto exchanges to adhere to the imposed sanctions appeared first on Coin Journal.

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Highlights March 15: Major cryptos in the red, China tech firms lead US indices lower

Major cryptos registered mostly small losses. On Monday, the European Parliament’s Committee on Economic and Monetary Affairs voted down a bill that could have outlawed proof-of-work in EU territory.

US indices slipped yesterday amid uncertainty ahead of the Federal Reserve’s eagerly awaited policy meeting today. The NASDAQ100 was down 2%, the SPX500 0.75%, while the DJ30 was flat. China-based tech stocks led the declines.

Shares of TV-ratings company Nielsen surged 30% on Monday after it was reported that a group of private-equity firms was in talks to buy the company for about $15 billion.

Top cryptos

Ethereum, Solana, XRP, and BNB lost around 2% each. Bitcoin lost around 1.6%, trading under $40,000 at time of writing.

Terra’s native token Luna is the biggest gainer in the top 20 coins by market cap today. This has been true for it for a few weeks now.

Top movers

THORChain is the biggest mover in the top 100 without a doubt. It added another 11.61% to its value today, bringing its weekly gains to 78%. It is rallying after the cross-chain DeFi project’s rollout of synthetic assets and the announcement of a launch date for a suite of new features called THORFi.

After a successful acquisition, Elrond has gained 7%. eCash is up 5%. BAT continues its steady rise. It’s trading for $0.73 with a 24-hour trading volume of $162.18 million. The token, which ranks 72nd by market cap, is up 4.72% in the last 24 hours.

The popularity of Stellar has been rising ever since an XLM token burn two days ago. The 30th biggest coin by market cap achieved a weekly gain of around 4%. According to some analysts, it’s about to break out.

Today, OIG announced a partnership with ioTexPad, the first ever launchpad built on IoTeX. The live IoTeX price today is $0.07 with a 24-hour trading volume of $40.2 million. IoTeX ranks 92nd by market cap and has gained 7% today.

The Graph’s price has risen sharply in the past few weeks. It’s currently trading for $0.36. The platform’s ecosystem is expanding, a fact welcomed by investors. However, some analysts anticipate a bearish turn.

At the other end, the vast majority of top 100 coins lost 2-4% of their value.

Zcash and Anchor each lost 10%. The predictions that Zcash, a privacy token, would start to dip after a meteoric rise have proven accurate. It was rallying on popularity of privacy coins a few days ago against the backdrop of the Russia-Ukraine war.  

Trending

The biggest gainer of little-known coins is Ziktalk, currently trading for $0.009. Its token ZIK generated a 24-hour trading volume of $1.4 million and has gained 1,083% today.

Ziktalk is a Web3 short video platform with over 650,000 users that allows content creators and consumers to earn ZIK tokens for interactions within the app.

It uses the concept of “social mining”, which involves rewarding users for contributions that benefit the growth of the ecosystem. 

Ziktalk provides monetization opportunities to 98% of content creators, whose earnings are below the poverty line, and also supports users in developing countries.

The post Highlights March 15: Major cryptos in the red, China tech firms lead US indices lower appeared first on Coin Journal.

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You can now buy Stellar, which is about to break out: here’s where

The popularity of Stellar has been rising ever since a token burn two days ago. The 30th biggest coin by market cap achieved a weekly gain of around 4%.

Look no further than this short article to get the details on Stellar, such as if it’s worth buying, and the best places to buy Stellar now.

Top places to buy Stellar now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy XLM with eToro today

CAPEX

CAPEX.com is an awarded fintech brand, globally recognized for a strong presence in shaping the future of trading. The company focuses on making the markets more accessible & transforming the way people trade online.

Buy XLM with CAPEX today

What is Stellar?

Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked.

Soon thereafter, its priorities shifted to helping financial firms connect with one another through blockchain technology.

The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

Stellar was originally based on the Ripple Labs protocol. The blockchain was created as a result of hard fork, and the code was subsequently rewritten.

Should I buy Stellar today?

Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also consider how you would feel about losing money.

Stellar price prediction

Stellar was changing hands for around $0.17 at the time of writing. Digital Coin Price predicts 1 XML will trade for $0.24 on average this year and $0.34 in 2025. By 2030, it could average $0.80.

Price Prediction is slightly more bullish, putting the coin at an average of $0.26 in 2022. However, its longer-term prediction is quite optimistic. They forecast an average price of $0.74 in 2025 and $5.11 in 2030.

Stellar on social media

The post You can now buy Stellar, which is about to break out: here’s where appeared first on Coin Journal.

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The best cross-chain interoperability tokens to buy this month

When you think about cross-chain interoperability, the first thing that comes to mind is Polkadot (DOT). It is by far one of the biggest cross-chain networks in the world. But there are many other projects too that you can consider other than DOT. Here is why:

  • DOT has achieved most of its potential and is unlikely to deliver 100x in the near term.

  • Innovations around cross-chain have been coming in fast.

  • Cross-chain projects will dominate the market in the next two or three years.

So, if you are wondering which cross-chain crypto assets to consider buying, check out our top 3 list below.

Cosmos (ATOM)

When Cosmos (ATOM) launched a few months ago, it was dubbed the “mother of cross-chain”. In fact, the primary goal for this project is to create a network of interconnected blockchains with the seamless operation and superb speeds in transactions. 

Data Source: Tradingview 

Cosmos is going to completely revolutionize the internet and has so far gained a lot of traction in the crypto market. As of now, Cosmos (ATOM) has a market cap of around $7.4 billion. The coin is also selling at $26.

Ren (REN)

As for investors who are looking for a medium cap coin in the cross-chain space, then Ren (REN) is a decent option. The coin is designed to offer cross-chain liquidity across various blockchains. It is also fairly new and under the radar, having launched in May last year. At the moment, REN has a market cap of around $350 million. There is a lot still to come from this project.

Synapse (SYN)

Synapse (SYN) is designed to work more or less like a bridge between Layer 1 and Layer 2 solutions. It does this while still maintaining overall efficiency as well. The coin has a market cap of about $450 million as we speak.

The post The best cross-chain interoperability tokens to buy this month appeared first on Coin Journal.

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ThorChain (RUNE) is up over 60% for the week – Can this growth keep going?

ThorChain (Rune) logo on a cell phone screen

ThorChain (RUNE) has been the best performing coin in the top 100 cryptocurrencies. The coin has gained over 60% in the last 7 days. This comes as other crypto assets struggle to find any decent uptrend. But can RUNE actually keep this up?

  • At press time, RUNE was trading at $7.43, up nearly 18% over the last 24 hours.

  • The surge is largely driven by news that ThorChain has launched synthetic assets trading.

  • We expect this momentum to keep up in the coming days.

Data Source: Tradingview 

ThorChain (RUNE) – When to expect a pullback?

As noted above, the surge that we have seen in ThorChain has largely been driven by positive chain news. Just the other day, the platform confirmed that it was launching support for synthetic trading. This means that users can now swap various assets with RUNE and can trade other DeFi synthetic assets on the ThorChain. 

Shortly after news of this support was announced, RUNE was up 37%. The trend has continued, with gains now surging above 63% for the week. It is likely that the uptrend will continue as more investors digest this news. 

But we expect some pullback by the end of the week. At the time of writing, RUNE was trading at around $7.4. The coin will eventually stabilize around $6.5 or thereabout.

Is ThorChain (RUNE) worth it?

Yes, ThorChain (RUNE) is indeed worth it. The project has been highly undervalued to be fair, and we are starting to see just how good it can be. 

Some analysts in fact believe that a push above $10 is possible before the end of the month. Besides, even from a long-term point of view, ThorChain still remains a decent asset to add to your portfolio.

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