Crypto News Updates

Banking giant HSBC has begun letting customers buy and sell bitcoin and ethereum exchange-traded funds (ETFs) that are listed on the Hong Kong stock exchange (HKEX) using its mobile apps. The stock exchange currently has three crypto futures ETFs listed. HSBC Customers Can Trade Crypto Futures ETFs Using Mobile Apps Banking giant HSBC has reportedly begun allowing customers to buy and sell bitcoin and ethereum exchange-traded funds (ETFs) listed on the Hong Kong stock exchange (HKEX) through its mobile apps. Chinese reporter Colin Wu tweeted Monday: HSBC, the largest bank in Hong Kong, today allows its customers to buy and sell bitcoin and ethereum ETFs listed on the Hong Kong exchange, and is also the first bank in Hong Kong to allow it. The move will expand local users’ exposure to cryptocurrencies in Hong Kong. Wu further noted that HSBC has launched “Virtual Asset Investor Education Centre,” emphasizing: “Investors need to read and confirm the educational materials and risk...

American television presenter and author, John Stossel, released a video on June 20, 2023, where he delved into the findings of a recent study on global economic freedom. Conducted by the Heritage Foundation and unveiled in late February, the research unveils a stark reality: the United States has experienced a substantial decline in economic freedom. From being ranked as the 20th freest nation in 2022, the United States has now slipped to the 25th position in 2023. John Stossel’s Video and Heritage Foundation Study Expose Decline in U.S. Economic Freedom John Stossel, the television show host and author known for his libertarian leanings, recently released a video discussing global economic freedom and the United States’ position among other nations. “Is America really the land of the free?” Stossel asked in a tweet. “Not anymore, according to a new ranking. The U.S. fell to 25th freest country on Earth,” the broadcaster explained. In the video, Stossel refers to the 2023 Index o...

The parallel market exchange rate of the Cuban peso versus the greenback recently dropped to CUP200 per dollar, a level last seen in Oct. 2022, a report has said. Pavel Vidal, a former economist at the Cuban central bank, said the peso’s depreciation has caused the “impoverishment of the economy and families in dollar terms.” Peso Down by More Than 20% in 2023 According to data provided by El Toque, the Cuban peso’s exchange rate on the parallel market recently matched an all-time low of 200 per dollar last seen in Oct. 2022. The peso’s latest plunge means the currency, which is officially pegged at CUP25:USD1, has now depreciated by over 20% in 2023 alone and by more than 50% in under 12 months. As per a report , the peso’s latest plunge has further eroded the purchasing power of Cuban salaries which rarely exceed an equivalent of $25 or 5,000 pesos per month. The currency’s accelerated depreciation is coming at a time when the country’s leader, Miguel Diaz-Canel, has joined other...

PRESS RELEASE. 10SecLabs, a leading force in the blockchain incubation landscape, has taken a significant investment leap into the innovative Metagalaxy Land project. This development comes ahead of Metagalaxy Land’s much-anticipated Metaverse Platform Launch. Set to be a trailblazer in the GameFi and metaverse arenas, Metagalaxy Land states that this investment has catalyzed considerable progress in their project, enabling it to leap forward towards future releases. Metagalaxy Land’s pre-alpha version, due to launch in early July, promises an exhilarating experience for its users. Assuming the roles of Space Pirates, they’ll explore the ‘Decentralized Planet.’ The adventure involves hunting for Metagalaxy Land points, which are strategically scattered across the map daily. Accumulating these points allows users to scale the leaderboard and reap enticing rewards. Furthermore, while navigating the NFT Exhibition on the Decentralized Planet, users have the ease of accessing the trade ...

Jim Rickards, an economist and investment banker, has warned about the establishment of a social credit system powered by the issuance of a central bank digital currency (CBDC). According to Rickards, this combination could be used to restrict the civil liberties of Americans by limiting their capabilities to travel and their reach on social media platforms. Jim Rickards on a Hypothetical CBDC-Fueled Social Credit System: ‘Yes, It Can Happen Here’ Jim Rickards, an economist with more than 40 years of experience in investment banking, has warned about a hypothetical social credit system in the U.S. powered by a central bank digital currency (CBDC). In his latest article , Rickards explains that issuing a CBDC would allow the government to get the data needed to construct such a system. Rickards stated that the information collected by monitoring transactions on a CBDC would facilitate “the creation of a social credit system that allows governments to punish those who engage in unapp...

The tax administration of Japan has provided an exemption to companies issuing cryptocurrencies under a revision of the corporate tax rules. A local crypto media report described the move as a step toward improving the business environment for the digital asset sector in the country. Japan Tax Authority Gives Cryptocurrency Businesses a Tax Exemption Japan’s National Tax Agency (NTA) has issued a notice clarifying partial revisions to the country’s corporate tax regulations . Under the new rules, unrealized gains from cryptocurrencies issued by companies will no longer be taxed. The administration explained that such coins will be excluded from the market value evaluation of a company’s assets if certain conditions are met. While a number of other issues need to be addressed, the move can improve the business environment for companies working with cryptocurrencies, Japanese crypto news outlet Coinspot noted in a report. Under the current Japanese law, if a company holds crypto ass...

Around 50 Chinese nationals have reportedly been apprehended by Libyan authorities following allegations of running a cryptocurrency mining facility within the city of Zliten, local reports detail. Cryptocurrency mining is strictly prohibited by law in Libya. Libyan law enforcement officials have disclosed that the mining operation, situated in an abandoned iron factory, was effectively dismantled. Illegal Cryptocurrency Mining Operation Busted in Libya, 50 Chinese Nationals Arrested The New Arab, on June 23, 2023, published a report revealing the Libyan attorney general’s office’s announcement of the arrest of 50 Chinese nationals involved in crypto mining activities in Zliten. Siddiq Al-Sour, the attorney general (AG), shared visual evidence, including photographs and videos, showcasing the mining campus located in the eastern part of the Tripoli province. Furthermore, preceding the detention of the 50 Chinese individuals, ten individuals associated with the operation had already...