Category: Cryptocurrency News

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Cardano has no doubt had an interesting year in 2021. Its native token, ADA, had grown from less than 30 cents to its record high above $3. It was a remarkable year filled with firsts for the project, the most notable being the launch of smart contract capability on the network. As the year 2021 draws to a close, investors are beginning to look towards the new year and what might be in stock for these digital assets. To this end, founder Charles Hoskinson once again took to his YouTube channel, where he explained to 300,000 subscribers in a live video, what they should expect in the coming year. Related Reading | By The Numbers: How Ethereum 2.0 One-Year Stats Stack Up DeFi On Cardano The deployment of decentralized finance (DeFi) on the Cardano blockchain has been a long-awaited event for both the network and its supporters. With smart contracts capability launched in September, expectations have grown even more as investors anticipate the launch of the first DeFi protocols. Developers continue to work hard towards this goal. Hoskison took time to address this important part of the Cardano network as he explained his plan to bring affordable loans to the network through DeFi. He outlines this goal as something he is working towards so that by the second half of 2022, there can be working protocols on the network where people are able to perform end-to-end Microfinance transactions on the blockchain. “My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano. So that a real person in Kenya or somewhere with a blockchain-based identity and credit score, stablecoin on the other side, Cardano is the settlement rail,” Hoskinson said. ADA trading above $1.5 | Source: ADAUSD on TradingView.com Spreading In Africa Cardano founder Charles Hoskinson did not fail to mention Africa, a continent that has been of real interest to the blockchain. For Hoskinson, bringing these peer-to-peer decentralized finance services to the continent and spreading them so all of the continent can benefit from this. He refers to this spread of realfi (real finance) across the continent as “the dream.” Related Reading | Crypto Research Analyst Puts Ethereum At $9,000 In Six Months He also outlines other projects scheduled to take place on the network. Hoskison lists out plans to enhance the network’s smart contract platform known as Plutus, as well as the three Cardano improvement proposals (CIPS), taking a note from the Ethereum improvement proposals (EIP), that are being worked on by developers that will come into the project. The founder also acknowledged the growth of the community, which has grown tremendously in 2021. “We’re staging things appropriately, and we’re starting to see a refinement of the science of things,” he said. “The adoption’s there. The community’s there. We’ve grown to about two million people,” Hoskinson added. Featured image from Bitcoin News, chart from TradingView.com

Jesse Powell said the exchange will expand into a marketplace for nonfungible tokens and NFT-backed loans beginning in 2022.

Augmented Reality technology is not new, but only recently has it developed to the point where widespread applications are being seriously explored. The perception of an NFT art piece can be influenced by AR because it adds another dimension to it. People already appreciate artwork in 2D, what more if it has even more value…
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i bought ~100$ of eth when it was around 3.4k just now used it to cover a transaction fee while sending an erc20 token. since it appreciated slightly before i used it, do i now something for taxes because of the appreciation? USA here no state income taxes, just federal im wondering about submitted…
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I went to https://ens.domains/ and the ability to purchase a domain is now gone. submitted by /u/superflippy [link] [comments]

Under stringent new UAE regulations designed to safeguard the public from financial fraud, cyber criminals who promote cryptocurrency frauds online face up to five years in prison and fines of up to $272 million. Crypto-scammers To Face 5 Years Imprisonment Promoters of online cryptocurrency frauds now risk a possible five-year prison sentence and a maximum fine of almost $270,000 under the UAE’s new internet security regulations, which take effect on January 2, 2022. The crackdown was announced last month as part of President Sheikh Khalifa’s series of broad legal reforms. The new law expands the country’s existing cyber-crime rules to include the promotion of rogue cryptocurrency schemes that are not recognized by UAE authorities. Despite the fact that many countries routinely issue warnings in this area, the UAE government has decided to take it a step further by imposing hefty penalties on those who violate the law. Cybercriminals who promote cryptocurrency frauds on the internet risk up to 5 years in prison and a fine of up to 1 million DH ($272,259), as the country’s government has strengthened its regulations to protect residents from cyber fraud. “As per article 48, posting misleading ads or inaccurate data online about a certain product will be punishable with jail and/or a fine between Dh20,000 and Dh500,000,” said Dr Hassan Elhais, of Al Rowaad Advocates, who outlined new legislation tackling cyptocurrency scams. “The same penalty applies to members of the public who promote cryptocurrencies unrecognised by authorities in the country.” BTC/USD float above $50k post-xmas. Source: TradingView Related article | Bittrex Global CEO Declares Dubai Will Gain Benefit From Cryptocurrency Market Expansion UAE Citizens Fell For Crypto-Scams This Year Despite strong regulation and a crypto-friendly climate, UAE citizens have continued to be victims of financial crime. In fact, in the first half of 2021, consumers in Dubai alone lost about 80 million DH in hundreds of such frauds. The UAE police responded by issuing warnings to people about bogus cryptocurrency trading and profit-making schemes. Regardles, DubaiCoin was one of the most intricate phishing frauds the city had to deal with. The digital asset was marketed as having government backing, and investors jumped at the chance, causing its value to skyrocket in a short amount of time. Others have not been so fortunate, as nine individuals from the country were sentenced to ten years in prison earlier this month for defrauding people out of 18 million DH through a get-rich-quick bitcoin trading scheme. When it comes to creating a comprehensive and inclusive crypto framework, the UAE is at the forefront. The Dubai World Trade Center was declared both a comprehensive crypto zone and a regulator earlier this month, allowing it to create an enormous hub for the sector’s expansion. Related articles | Authorities To Imprison A Man From Ohio For Defrauding $30 Million In A Cryptocurrency Scam

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