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India’s Financial Intelligence Unit (FIU IND) has issued a notice deeming nine major offshore cryptocurrency exchanges “illegal”. The agency, which is in charge of regulating all financial transactions in the world’s fifth-largest economy, cited a failure to comply with local Anti Money Laundering (AML) and Counter Financing of Terrorism (CFT) regulations as the reason for the decision. As a result of the decision, all nine exchanges included in the notice will have their URLs blocked in the country, a move that could severely affect their Indian user base. The range of the notice includes Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. Can Foreign Crypto Exchanges Operate in India? The decision to block access to the nine exchanges comes after amendments were made in March 2023 to India’s Prevention of Money Laundering Act, 2002 (PMLA). As a result of the amendments, cryptocurrencies were brought into the ambit of the country’s AML and CFT re...

Bitcoin mixers are referred to as different things: tumbler, blender, etc. They are a tool to ensure privacy when conducting Bitcoin transactions. Mixers break the connection between the sender and the recipient. This ensures protection from possible tracking and analysis by third parties. How Does a Bitcoin Mixer Work? A Bitcoin mixer mixes coins that are received from different users in a common pool. During the process, coins are split. After mixing, anonymized Bitcoins are sent to the user in the specified amount minus the service commission. At the same time, the system marks who owns which coins. This allows you to minimize the risk of receiving your own Bitcoins. Every year there are more and more Bitcoin mixers. Some of them may not be entirely honest, others will charge too much commission. It is extremely difficult to find a high-quality and inexpensive Bitcoin mixer. Therefore, we have selected the best services, indicating key features, commission amounts and other para...

The current state of the cryptocurrency market is marked by a blend of fluctuations and resilience. Bitcoin (BTC), the flagship cryptocurrency, experienced a drop on Christmas Eve, briefly falling below $43,000. However, it managed to recover, maintaining a level just above $43,000. This movement reflects the market’s volatility and the ongoing tug-of-war between bullish and bearish sentiments. On a weekly scale, the picture shifts, with Near Protocol (NEAR) and Mina leading with impressive 80% surges. Optimism and Sei followed closely with 70% increases, while Solana (SOL) saw a 60% rise, solidifying its position as the fourth-largest digital asset by market cap, nearing $50 billion. As we turn our attention to Ethereum (ETH), Cardano (ADA), Solana (SOL), Sui (SUI), Sei (SEI), Near Protocol (NEAR), Gala (GALA), and Scapesmania, it’s clear that these cryptocurrencies are potentially poised to be key players in shaping the market dynamics in 2024.  They might not become the bigge...

Solana has seen its SOL token price surge by over 26% in the past week, making it one of the best-performing cryptocurrencies in the top 10. The network’s token had reached its all-time high back in November of 2022 before dropping to less than $10 in June 2023. Now, SOL is about to surpass the $100 mark. Despite only having been around for three years, Solana is widely considered to be one of the potential “Ethereum killers” thanks to its high speeds and low frees. The recent spree mirrors that of the entirety of the crypto market and has been boosted by news of a new stablecoin joining the network, as well as the revival of meme coins and NFTs. NY Regulator Approval Allows First Solana Stablecoin According to Fortune, Paxos has been approved by New York’s financial regulator to expand its services to Solana. The approval means that Ethereum would no longer be the only network capable of operating with USDP natively. With a market capitalization of over $370M, the news of USDP’s e...

With the aim to simplify Web3 access for both new and experienced users, Ava Labs has released Core – an all-in-one Web3 companion that empowers users to take maximum control of their Web3 experience. Ava Labs, founded in 2018 by Professor Emin Gün Sirer and a team of Cornell computer scientists, set out to tackle the scalability issues plaguing existing blockchains like Ethereum. Their brainchild, Avalanche, emerged in 2020 as an open-source platform for building decentralized applications (dApps) and custom blockchains. In recent years, the Avalanche ecosystem has achieved steady growth. A vibrant community of developers and entrepreneurs are building a diverse range of dApps across various sectors. Now anyone can use Core – but without seed phrases. Users can generate and manage keys with simple Web2 platforms like Gmail and Apple, which makes it super accessible without any security or custody tradeoffs. Core introduced this first-of-its-kind experience in wallets, and it is a...

In the heart of the mysterious East, 1xBit invites you to unravel the legend of DRAGON’S TREASURE – an exhilarating tournament set to mark the Chinese New Year. Dare to venture where dragons guard ancient riches, and only the most audacious warriors will claim their share. Begin your journey and let the reels decide if luck is on your side in the pursuit of the greatest treasure. Celebrate the New Year in Style Embrace the festive season by playing your favorite slots from any providers, accumulating tournament points to ascend through stages. The more you play, the closer you get to the ultimate reward – a piece of the impressive prize pool consisting of 600 mBTC and 300 Free Spins. Let the thrill of the hunt bring you closer to the Dragon’s Treasure. Rewarding the Most Persistent As the DRAGON’S TREASURE unfolds, 1xBit presents an enticing prize pool, offering a glimpse into the bountiful rewards that await the top contenders. The prize distribution model is designed to celebra...

A years-long legal battle over nearly 70,000 bitcoins has concluded with a U.S. appeals court finalizing the forfeiture of the crypto assets to the federal government. The bitcoins and other cryptocurrencies were originally obtained from the now-defunct online black market Silk Road , which was shut down by law enforcement in 2013. Keypoints A U.S. appeals court finalized the forfeiture of 69,370 bitcoins and other cryptocurrencies connected to the now-defunct Silk Road dark web marketplace. The crypto assets were initially seized by the U.S. government in 2020 when they were valued at over $1 billion. The assets were transferred to the government by an individual who hacked Silk Road and gained control of its bitcoin funds. Silk Road founder Ross Ulbricht, who is serving a life sentence, relinquished claim to the 69,470 bitcoins as part of a deal in 2022. The U.S. government’s large holdings of bitcoin from Silk Road are closely watched by crypto market participants for pote...

The ongoing inscription hype has fueled growth for EVM networks, with nine chains reaching new transaction pinnacles. Inscription refers to a process that transforms individual satoshis, the smallest units of Bitcoin, into unique digital artifacts. The goal of inscriptions is to add utility to the Bitcoin blockchain. By embedding images or data directly into the calldata of Bitcoin transactions, inscriptions create a new dimension of NFTs that reside directly on the blockchain itself. There are loads of ways to use this tech to record content on blockchains. However, it can lead to higher prices in some cases. Keypoints Inscription frenzy fueling new transaction records on 9 chains like Arbitrum and BNB Chain. 83-97% of transactions now involve inscriptions. Alongside soaring volumes, fees spiking substantially. Avalanche inscription fees hit $14M in 5 days, 70% of total. Causing gas price hikes and frequent network outages. Underscores need to advance scalability. Addresses ...

While most cryptocurrencies kicked off the week in the red, Stacks (STX), a leading Bitcoin scaling solution, bucked the trend and posted gains. $STX, the native token of Bitcoin layer-2 project Stacks, soared over 15% in the last 24 hours, according to data from CoinGecko . The network is reportedly getting close to the launch of its Nakamoto testnet scheduled for later this month. This testnet is expected to significantly reduce block times, bringing the network’s performance to par with leading Ethereum scaling solutions. In addition, the Bitcoin-based project completely minted out its first STX-20 in the last few hours. The inscription triggered a surge in network activity, resulting in a massive increase in transactions and temporary network congestion. STX Surges 15% The surge came amid the hype surrounding BRC-20 and Bitcoin Ordinals. Earlier this month saw a record hike from around $5-$7 to an average of $27.55 per transaction. The rising transaction fees were driven by t...

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