India is not against blockchain technology, but currencies have to be monitored by either the government or the central bank, Finance Minister Nirmala Sitharaman said on Saturday.

See related article: India imposes money laundering regulations on crypto industry

[Blockchain] gives us so many options. It can be used in so many different ways. So we are not against the technology, Sitharaman said at an event in Bengaluru.

But on currency, we think [it] has to be driven by either the government or the central bank. Otherwise, it can be like those that have collapsed, causing huge spillover effects all over the world, like FTX, she said.

The Reserve Bank of India, the nations central bank, has launched pilot trials for retail and wholesale central bank digital currencies. According to Sitharaman, the digital rupee intends to improve cross-border and bulk payments to minimize losses on arbitrage.

India, the worlds most populous country, is aiming for a global consensus in regulating crypto assets.

Global order has become so interlinked that one country taking any step when it comes to regulating crypto assets will be ineffective because technology doesnt care for boundaries or borders, Sitharaman said.

The South Asian nation is also looking to prepare students on cryptocurrency and artificial intelligence. It has announced the introduction of these topics in certain school curriculums from the next academic year.

India has been tackling digital assets with caution. Last year, Sitharaman imposed a 30% flat tax on crypto income and a 1% tax deducted at source (TDS) on crypto trades above 10,000 Indian rupees (US$122).

India also does not allow crypto traders to offset losses against gains. It has introduced a penalty equal to TDS for non-deduction, interest of 15% annually for late payment, and even imprisonment of up to six months.

India is currently the president of Group of 20, an intergovernmental forum of the worlds major economies, and has listed cryptocurrency and its regulation as one of the agendas for discussion.

See related article: Common regulatory framework for crypto to come during Indias G20 presidency, finance minister says

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India not against blockchain tech, but cryptocurrency should be monitored, says FM - Yahoo Finance

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AsNorth Koreanmilitary activities continue to capture the attention of decision-makers and analysts across the world, around 50% of the countrys secretive missile program could be financed by cyberattacks and cryptocurrency theft, according to Anne Neuberger, the U.S. deputy national security adviser for cyber and emerging technology.

During a recent event hosted by the nonprofit Special Competitive Studies Project, the senior White House official said that there is an ongoing federal government effort to understand how a nation like North Korea is so darn creative in this space, CNN reported.

American intelligence agencies are making intense efforts to track down North Korean operatives, and the U.S. Department of Treasury is working to locate stolen crypto, according to Neuberger.

The official added that President Joe Bidens administration, of which she is a member, is putting a lot of time and thought into the issue.

Speaking at a different public event in July 2022, the deputy national security adviser declared that the North Koreans use cyber to gain, we estimate, up to a third of their funds to fund their missile program.

The latest statement indicates that, since last summer, Pyongyang has managed to significantly expand its capacity to illicitly seize crypto from users across the world.

A spokesperson for Neuberger said on Wednesday the updated figure the official cited earlier this week was accurate.

Last January, Washington announced that crypto industry security vulnerabilities enabled North Koreas hackers to steal more than $1 billion in the past two years. At that time, the claim that Pyongyang has used the stolen crypto to support its missile program was made in an official statement which was reported by South Korea-based media outletsVOA KoreaandMunhwa Ilbo.

The American administration said that poor cybersecurity across the industry had enabled North Koreas government to steal over a billion dollars which were later used to finance the countrys missile program.

Among others, the Federal Bureau of Investigation (FBI) believes that the Pyongyang-backed hacker group Lazaruswas behind the $100 million Harmony Horizon bridge attackinJune 2022.

In the attacks aftermath, the U.S. Treasury has imposed sanctions on crypto mixing services including Tornado Cash amid allegations that North Korea uses such services to launder stolen cryptocurrency.

Last year, the South Korean National Intelligence Service declared that Pyongyang-backed hacker groups havestolen some $1.2 billion worth of crypto over the past five years.

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Half of North Korea's Missile Funding Comes from Cybercrimes and ... - Cryptonews

Citing excessive energy use, noisy operations, pollution and electronic waste, Buncombe County put a one-year moratorium on any new cryptocurrency mining operations.

The vote in Asheville follows a ban on the server farms approved last year in Clay County, in the mountains southwest of Asheville. Neighboring Macon County is also considering a ban on the mining operations.

In December, Cherokee County passed a resolution asking the legislature for more power to regulate cryptocurrency mines.

Cryptocurrency mines use server farms to run complicated algorithms to mine Bitcoin and similar digital currencies. They use warehouses full of powerful computers that require a lot of electricity. The operations have brought complaints from nearby residents over the 24-hour noise from the servers and cooling equipment in previously quiet rural areas in the North Carolina mountains.

The server farms are attracted to western North Carolina by low-cost energy and lax zoning regulations, according to a recent report from the Environmental Working Group.

Cryptocurrency miners have also been looking for new places to set up shop since China banned most of their operations two years ago, according to the Associated Press.

Buncombe County Planning Director Nathan Pennington said the county is working on a new comprehensive plan.

This one-year pause gives us time to work with residents and craft standards, he said.

The commission passed the moratorium unanimously last week.

The moratorium will maintain the status quo by limiting any negative effects in neighborhoods impacted by this use until a proper regulatory scheme can be developed, the ordinance states.

The ban would expire after a year or when the county comes up with new rules for where the server farms can be located. It only includes unincorporated areas of Buncombe County.

They have proven to be a nuisance to neighbors and a threat to our environment, Chris Joyell, with the environmental group Mountain True, said during a public hearing over the temporary ban in Buncombe County.

There is no way to greenwash crypto mining. Even if miners claim to rely on renewable energy, their operations are still hogging energy that we would need to meet the county and state carbon reduction goals, he said.

But not everyone at the hearing supported the moratorium. Craig Deutsch told the commissions the moratorium could discourage new industry in the county.

The crypto mining operations, he said, could encourage innovation and bring new industry to the area.

Noise problems should already be addressed by noise ordinances, said Dennis Fassuliotis, director of the South Carolina Emerging Tech Association, speaking during the public hearing.

He also countered the environmental arguments against the server farms.

Bitcoin mining specifically does not produce any greenhouse gasses itself. It uses a mixture of the grid that everyone else uses, Fassuliotis told the commission. Bitcoin is the industry leader in sustainability.

New York lawmakers last year passed a 2-year ban on new cryptocurrency mines that wanted to retrofit old fossil-fuel power plants to power their servers.

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Another N.C. county moves to stop Bitcoin mines. Here's why - Spectrum News

As per reports, on April 17, 2023, Chicago Mercantile Exchange(CME), a cryptocurrency platform group mentioned that it will expand its range of cryptocurrency choices by including new options and Ether and lesser valued Bitcoin, stated Cointelegraph. Reportedly, these new crypto contracts will be available from May 22, 2023.

As reported by Cointelegraph, CME will be expanding its cryptocurrency options and including new expiry dates, which might provide the users with flexibility and also help them to manage a short-term practice. It is expected that the addition of micro-sized Bitcoin and Ether future contracts will supplement the current monthly and quarterly expires, added Cointelegraph.

Sources revealed that earlier the CME Group had launched euro-dominated Bitcoin (BTC) and Ethereum futures while the value of the euro was equal to the United States dollar, Cointelegraph concluded.

(With insights from Cointelegraph)

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Chicago Mercantile Exchange to add new cryptocurrency options: Report - The Financial Express

May 11, 2023 by Diana Ambolis

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Decentralized finance (DeFi) has become one of the hottest trends in the cryptocurrency world in recent years. DeFi is a new financial system that operates on a decentralized network, meaning its not controlled by any central authority, government, or bank. DeFi is built on blockchain technology, and its goal is to provide an open and

Decentralized finance (DeFi) has become one of the hottest trends in the cryptocurrency world in recent years. DeFi is a new financial system that operates on a decentralized network, meaning its not controlled by any central authority, government, or bank. DeFi is built on blockchain technology, and its goal is to provide an open and permissionless financial system for everyone.

DeFi has been gaining popularity due to its potential to provide financial services that are more accessible, transparent, and efficient than traditional finance. DeFi also offers a variety of investment opportunities and can be used to hedge against inflation. In this article, well explore the rise of DeFi and its contribution to the growth of cryptocurrency.

Despite these challenges, the rise of DeFi has played a significant role in the growth of cryptocurrency. Its decentralized nature and ability to provide financial services to anyone with an internet connection, regardless of their geographic location, has made it a popular choice among users.

The rise of Decentralized Finance (DeFi) has been a significant catalyst for the growth of cryptocurrency, and its impact on the future of digital assets cannot be overstated. DeFi refers to a new type of financial system built on blockchain technology that enables users to access financial services in a decentralized and trustless manner. This means that users can transact directly with each other without the need for intermediaries, such as banks or other financial institutions.

DeFi has emerged as a major player in the cryptocurrency space, and it is transforming the way people think about finance. One of the key advantages of DeFi is its ability to offer financial services that are not available in the traditional financial system. For example, users can earn interest on their cryptocurrency holdings, lend and borrow digital assets, and trade cryptocurrencies in a decentralized manner.

Another key advantage of DeFi is its ability to enable cross-border transactions without the need for intermediaries. This means that users can send and receive funds from anywhere in the world, instantly and at low cost. This is particularly important for people in countries with limited access to traditional financial services, where DeFi can provide an alternative financial system.

Furthermore, DeFi offers greater transparency and security than traditional finance. Transactions are recorded on a blockchain, which is immutable and transparent, meaning that anyone can view the transaction history. This provides a level of security and accountability that is not possible with traditional finance.

However, there are also some challenges associated with DeFi that need to be addressed for its continued growth. One of the major challenges is the lack of regulation in the space. This has led to a number of scams and fraudulent projects, which have tarnished the reputation of the DeFi space.

Another challenge is the complexity of the technology. DeFi applications can be difficult for the average user to understand, which can limit adoption. However, as the technology continues to evolve, we are likely to see more user-friendly applications that will make DeFi more accessible to the general public.

The future growth of cryptocurrency is closely tied to the rise of DeFi. The benefits of DeFi, including its ability to offer new financial services, enable cross-border transactions, and provide greater transparency and security, make it a powerful force in the cryptocurrency space. However, challenges such as the lack of regulation and complexity of the technology need to be addressed for DeFi to reach its full potential. As the technology continues to evolve, we can expect to see more innovation and adoption in the DeFi space.

Also, read Investing In The Future: How Fintech And Cryptocurrency Are Changing The Investment Landscape

The rise of DeFi has contributed greatly to the growth of cryptocurrency by providing new and innovative financial services to users. While there are certainly challenges to be addressed, the potential benefits of DeFi and its impact on the broader financial industry cannot be ignored. As the technology continues to evolve and mature, it is likely that we will see even greater innovation and adoption in the years to come.

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The Rise Of DeFi And Its Contribution To The Growth Of ... - Blockchain Magazine

AI is achieved by simulating cognitive functions like perception, reasoning, and learning in machines that require complex mathematical models. In cryptocurrency trading applications, AI can be trained on historical price movements and market trends data to predict future values accurately.

The beauty of AI lies in its ability to adapt quickly to changing market conditions while making fast real-time decisions based on large datasets with minimal human intervention. This makes it a powerful tool for traders looking for an edge over their competition.

However, despite its many benefits in crypto-trading environments, there are concerns over the ethical implications of using AI-driven systems without proper regulation or oversight. As such, industry stakeholders must work together towards establishing responsible frameworks for integrating this technology into financial markets worldwide.

How AI is Used in Cryptocurrency Trading

Artificial Intelligence (AI) has revolutionized cryptocurrency trading by providing traders with tools to analyze a vast amount of data and make better investment decisions. AI algorithms use machine learning techniques like neural networks, deep learning, and reinforcement learning to study market trends, analyze historical data and identify patterns.

One way that AI is used in cryptocurrency trading is through algorithmic trading bots. These bots can execute trades automatically based on preset rules or indicators. They can also respond to real-time market changes, which allows them to buy or sell assets quickly.

Another way that AI is transforming the crypto-trading landscape is through sentiment analysis. This technology uses natural language processing (NLP) algorithms to scan social media posts, news articles, forum discussions and other online sources for information relevant to specific cryptocurrencies or markets. The insights gathered from this analysis are then used by traders and investors alike as part of their decision-making process when buying or selling digital assets.

Moreover, predictive analytics helps traders anticipate future market trends by analyzing past performance data using complex mathematical models such as regression analysis and time series forecasting. These models allow traders to generate accurate predictions about future price movements in various markets which they could use for making profitable investments.

The integration of Artificial Intelligence into cryptocurrency trading has had a significant impact on how it operates today compared to just a few years ago; it provides new opportunities for investors while reducing risks associated with traditional methods of investing in digital assets.

The Benefits of AI in Cryptocurrency Trading

The benefits of using AI in cryptocurrency trading cannot be overstated. One major advantage is the speed at which trades can be executed. With AI, trades can be made in real-time based on market trends and data analysis.

Another benefit is the accuracy of predictions that come from utilizing AI algorithms. These predictions are not just based on historical data but also take into account current market conditions, making them more reliable.

Moreover, AI can help traders make informed decisions by analyzing vast amounts of information within seconds. This means that they can quickly identify patterns or anomalies that may affect their investments.

AI-powered trading systems also reduce human error as they operate with pre-defined rules and algorithms, eliminating emotional biases and irrational decisions often associated with human traders.

Furthermore, by automating repetitive tasks such as monitoring numerous markets simultaneously or tracking multiple cryptocurrencies' prices at once, traders have more time to focus on other essential aspects of their investment strategy.

The benefits of incorporating AI into cryptocurrency trading are clear: faster transactions, greater accuracy in decision-making processes and reduced errors all contribute to a better return on investment for traders.

The Risks of AI in Cryptocurrency Trading

While AI has brought about numerous benefits to cryptocurrency trading, it's important to acknowledge the potential risks involved. One significant risk is the possibility of relying too heavily on AI algorithms without proper human oversight and intervention.

AI systems are only as good as their programming and may not always account for unexpected events or market fluctuations. This could lead to automated trades based on faulty data analysis resulting in significant financial losses.

Another risk is the potential for cyber attacks targeting AI systems used in cryptocurrency trading. Hackers can exploit vulnerabilities in these systems and manipulate them for their own gain, potentially causing chaos within the market.

Additionally, there is a risk of unethical use of AI by traders who might use it to engage in insider trading, money laundering or other illegal activities undetected by regulators.

Reliance on AI technology may also lead to an overreliance on correlation-based models that do not necessarily capture nuances unique to individual markets leading ultimately into catastrophic consequences.

While there are undeniable benefits of incorporating AI into cryptocurrency trading strategies one should be mindful of its limitations and associated risks.

The Future of AI in Cryptocurrency Trading

The future of AI in cryptocurrency trading is promising as technology continues to advance. One of the potential applications for AI in crypto trading is portfolio optimization, where it can analyze market trends and make decisions based on data-driven insights.

Another aspect that could be revolutionized by AI is risk management. With machine learning algorithms, traders can predict possible risks and take preventive measures before they occur. Additionally, AI-powered chatbots may also become more prevalent in the industry to provide 24/7 customer support.

As blockchain technology becomes more integrated into various industries, there will likely be an increased demand for professionals with expertise in both cryptocurrency and artificial intelligence. This means that educational programs focused on these topics will also continue to emerge.

However, there are still some challenges that need to be addressed before widespread adoption of AI in crypto trading occurs. One concern is the possibility of bias within algorithms leading to inaccurate predictions or unfair practices.

The integration of AI into cryptocurrency trading has already shown significant benefits and holds great potential for further innovations in the future.

The integration of AI in cryptocurrency trading has been a game changer for investors and traders alike. With the ability to analyze data faster and more accurately than humans can ever do, AI has become an essential tool for making informed investment decisions.

The benefits of using AI in cryptocurrency trading are numerous, including increased efficiency, reduced risk, greater profitability, and improved decision-making. However, it is important to remember that there are also risks associated with using this technology.

As we move towards a future where AI becomes even more advanced and integrated into our daily lives, we can expect to see even more exciting developments in the world of cryptocurrency trading. For now though, investors should continue to educate themselves on how they can leverage this powerful technology to their advantage while minimizing their exposure to potential risks.

The use of AI in cryptocurrency trading represents a major step forward for both individual investors as well as financial institutions looking to stay ahead of market trends. Whether you're a seasoned trader or just starting out with your investments - there's no doubt that immediate connect with cutting-edge technologies like AI will help you unlock new possibilities and achieve success like never before!

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How AI Is revolutionizing Cryptocurrency trading - Business Insider Africa

Like a pair of polka-dot socks, the cryptocurrency Polkadot (CRYPTO: DOT) offers a combo of functionality and pizzazz that may not be as flashy as Bitcoin (CRYPTO: BTC) or Ethereum (CRYPTO: ETH), but is still more than stylish enough to turn heads. Oh, and Polkadot helps Ethereum and Bitcoin work with each other and together with other crypto networks. That's a pretty cool place to be in the expanding crypto universe.

Thanks to its recent market performance, relentlessly expanding ecosystem, and crucial role in the promising Web3 project, Polkadot could be a crypto that not only keeps your feet warm, but puts a spring in your step.

So if you're looking for a solid addition to your cryptocurrency portfolio, Polkadot looks like this month's best idea.

As a versatile blockchain protocol, Polkadot is aligned with the zeitgeist in the crypto world. The platform's ultra-flexible ecosystem is growing rapidly, and now includes more than 750 full-time developers and 2,000 total developers working on projects.

These developers are expanding their adoption and use cases of Polkadot's Cross-Consensus Message Format (XCM), with the number of XCM channels increasing by 60% in the first quarter. This crucial data format helps Polkadot connect to other blockchains, allowing various digital coins and tokens to play a part in the apps and services being built.

Polkadot has also undergone 19 successful upgrades since 2022, showing its adaptability and resilience amid the cacophony of crypto competition. Moreover, this long list of upgrades was executed without forking the Polkadot network's code base.

The total number of Polkadot parachains -- individual blockchains connected to the main Polkadot network -- increased by 17% in the first quarter. A whopping 133 million DOT (currently worth $720 million) has been committed to the parachain auction system since November 2021. In short, Polkadot's developer community is thriving.

A key differentiator for Polkadot is its place in the ambitious Web3 project, which aims to create a decentralized, user-controlled internet. Polkadot's interoperability-focused design allows for seamless communication between different blockchains, bridging the gap between various decentralized networks. When every system can work together, everybody wins.

This unique quality positions Polkadot as a critical player in the evolving Web3 landscape. Decentralized applications and services are set to redefine how we interact with the digital world. And Polkadot provides the digital glue that keeps this vision together.

Though as of Monday, its price had fallen by 16% in 30 days, Polkadot was up by 22% year to date. The platform has numerous promising projects on the front burner. For example, the KILT Protocol parachain just announced a partnership with Deloitte Consulting -- part of the world's largest management consultancy. This collaboration will create reusable digital credentials for know-your-customer (KYC) and know-your-business (KYB) processes, opening up new markets and use cases for Polkadot's technology.

Polkadot's financial platform is robust, too. Its circulating market cap stands at $6.4 billion, making it the 11th-largest cryptocurrency.

Investing in cryptocurrencies is not just about chasing the hottest trend. Smart investors understand the importance of diversifying their portfolios and selecting assets based on merit, potential, and long-term viability. With its solid ecosystem, innovative projects, and vital role in the Web3 initiative, Polkadot seems to have what it takes to be a valuable addition to your investment portfolio.

In fact, I would argue that Polkadot itself is a diversified asset, sort of like an index fund that tracks its market. This sophisticated network serves as the connective tissue between many blockchain systems. Polkadot is the Web3 Foundation's official blockchain protocol, and it should gain value as the public internet evolves on a global scale.

It's impossible to predict the future with certainty, but Polkadot looks like a strong contender in the cryptocurrency space.

So as you ponder your investment choices this May, don't forget to do your due diligence and consider the plethora of factors that could influence your decision. And while you're at it, take a moment to appreciate the colorful pattern of possibilities that Polkadot brings to the table -- it just might be the key to a brighter financial future.

Anders Bylund has positions in Bitcoin, Ethereum, and Polkadot. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

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Here's My Top Cryptocurrency to Buy in May - The Motley Fool

With crypto's rapid growth, the popularity of crypto casinos has soared. These platforms offer a unique and secure gambling option for users.

However, with countless options available, it can be challenging to determine which cryptocurrency casino website is the best fit for you. In this article, we will explore key factors to consider when selecting the ideal cryptocurrency casino website, ensuring a safe, entertaining, and rewarding gaming experience. For further reading and to check out the top-ranked sites, check out the sites featured on Top10 Casino Sites.

Before diving into the world of cryptocurrency gambling, it's essential to evaluate the reputation and trustworthiness of a casino website. Look for platforms that have been operating for a significant period, possess relevant licenses, and comply with regulatory requirements. Check for user reviews, ratings, and feedback from reputable sources to gauge their credibility. Consider casinos that employ provably fair gaming mechanisms, which ensure transparency and fairness in the outcome of each bet.

The security of your funds and personal information should be of utmost importance when choosing a cryptocurrency casino website. Opt for platforms that utilize robust encryption protocols to safeguard your data and employ strict security measures to protect against hacking attempts. Additionally, consider casinos that offer two-factor authentication (2FA) for an extra layer of account protection. Look for transparency in terms of privacy policies and ensure the platform adheres to strict confidentiality standards.

A diverse and engaging game library is crucial to providing an enjoyable gambling experience. The best cryptocurrency casinos offer a wide range of games, including popular options like slots, blackjack, roulette, poker, and live dealer games. Look for casinos that collaborate with reputable software providers to ensure high-quality graphics, immersive gameplay, and smooth functionality. The availability of both traditional and innovative games will cater to different preferences and keep you entertained.

Generous bonuses and promotions can significantly enhance your cryptocurrency casino experience. Look for platforms that offer attractive welcome bonuses, deposit bonuses, free spins, and loyalty programs. Read the terms and conditions of these offers carefully, paying attention to wagering requirements and withdrawal restrictions. Choose a casino that provides ongoing promotions and rewards to maximize the value of your deposits and increase your chances of winning.

As you are specifically interested in cryptocurrency casinos, evaluate the range of cryptocurrencies accepted by a platform. Look for casinos that support popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others, offering flexibility in your transactions. Additionally, consider the speed of deposits and withdrawals. The best cryptocurrency casinos facilitate quick and seamless transactions, ensuring you have timely access to your winnings and an efficient gaming experience.

Reliable and responsive customer support is essential when dealing with any online service, including cryptocurrency casinos. Choose a platform that offers multiple support channels, such as live chat, email, and telephone, available 24/7. Prompt and helpful assistance ensures that any queries, concerns, or technical issues are resolved efficiently, providing you with a smooth and enjoyable gambling experience.

Selecting the best cryptocurrency casino website requires careful consideration of several factors. Prioritize reputable platforms with a strong track record, robust security measures, and a diverse range of games. Ensure they offer attractive bonuses, convenient payment options, and reliable customer support. By following these guidelines, you can make an informed decision and enjoy an entertaining and rewarding cryptocurrency gambling experience.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.

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Whether youre an investor, businessperson, or developer with an interest in the blockchain space, white papers are a crucial aspect that cannot be ignored. With new blockchain or cryptocurrency white papers surfacing every week, each boasting innovative technologies that promise to revolutionize the industry, its no surprise that white papers have become a staple component in the creation of new blockchain projects or cryptocurrencies. In essence, white papers have become an indispensable tool for individuals seeking to stay abreast of the latest developments in the blockchain space. If you are into Cryptocurrency, you may also consider knowing about the bit index ai.

What is Whitepaper?

A whitepaper serves as the primary portal for delving into the intricacies of a cryptocurrency project. This formal document, authored by the projects creators, delineates the underlying value proposition, elucidates the problem at hand, and details the methodology for tackling it. A meticulously crafted whitepaper elucidates these concepts, while also providing technical specifications, comprehensive market research, and in-depth risk analysis to ensure that stakeholders are well-informed. White Papers generally adhere to a standard set of elements, and acquiring the skill to scrutinize them is essential for your security. The cryptocurrency sphere is rife with fraudulent ventures preying on gullible investors, so it is crucial to exercise caution. By examining a whitepaper, you can ascertain whether a project is legitimate and has the potential to be a worthwhile investment.

Enhancing Your Ability to Analyze Whitepapers: Key Considerations to Keep in Mind

What Issues Does it Seek to Address?

To expand on this point, the cryptocurrency project must provide a lucid rationale for its inception. Exactly what exactly is the issue it seeks to solve? It is crucial to ascertain whether the problem is genuine or artificially constructed. It may seem implausible, but several ventures are established purely for the sake of innovation, addressing issues that either do not exist or are so specific that they only impact a handful of individuals. Subsequently, it is crucial to identify the reason behind the problems present-day significance. Determine the wider scenario or worldwide pattern that has created the pressing need to seek a resolution at this juncture. Thoroughly consider the arguments to reach an extensive comprehension of the real extent of the issue. To attain a clear understanding, carry out detailed research and, in case needed, make use of extra resources.

Roadmap

Concisely, a roadmap provides a concise overview of the cryptocurrency projects progress. It outlines both short and long-term objectives and indicates when they are anticipated to be accomplished. This feature plays a pivotal role in tracking the evolution of the project and assists in setting practical expectations. Consequently, it is a valuable tool for investors seeking to evaluate the feasibility and potential of the project.

Purpose of the Project

What is the true essence of the project? Does it revolve around building a developer platform or facilitating compensation for artists and authors? A transparent whitepaper should and will address these fundamental questions. Whitepapers serve as the projects public face, and reputable teams strive to produce concise and comprehensible documents. However, if the explanations are ambiguous or cloaked in excessively technical jargon, it should be viewed as a warning sign that the project lacks a clear and defined purpose, possibly indicating a lack of real value or direction.

The Team

The ultimate and pivotal aspect to evaluate is the individuals responsible for steering the project. Who are the founders, personnel, and advisors? What proficiencies and knowledge do they possess, and are they pertinent to the project they are spearheading? Additionally, it is imperative to investigate their overall reputation in the industry, and their previous successes, and failures. These factors provide valuable insight into their ability to execute and deliver on the projects objectives.

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Mastering the Art of Understanding Cryptocurrency Whitepapers: A Comprehensive Guide - Qrius

In addition toupending established banking structures, cryptocurrency has transformedphilanthropic giving and philanthropy. The use of digital currencies for charitablepurposes has increased as they become more widely accepted. This articleexamines the expanding practice of using cryptocurrencies for charity purposesand demonstrates their profound influence on charitable donations.

For people andorganizations, cryptocurrency opens up a new channel for charitablecontributions. Cryptocurrencies promote transparency, security, and efficiencyin donations by utilizing blockchain technology. Philanthropists may helpcharities all around the world thanks to this decentralized and borderlessnature, cutting out traditional financial intermediaries and loweringtransaction costs.

Cross-borderdonations are no longer complicated or delayed by using cryptocurrency. The useof conventional techniques, such as wire transfers, might include drawn-outprocedures, expensive fees, and currency adjustments. Through the use ofcryptocurrency, contributors can send money to charitable organizations orpeople in need anywhere in the world, ensuring that aid is delivered quicklyand effectively to those who need it.

For people inunderdeveloped nations, cryptocurrency-based philanthropy has very importantimplications. Cryptocurrencies offer a way for direct access to funds andfinancial inclusion in areas with restricted access to conventional bankinginstitutions. Without the aid of middlemen, this empowerment enables people toparticipate in the economy, receive gifts, and improve their standard ofliving.

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Thearchitecture of cryptocurrencies, known as blockchain, promotes transparencyand accountability in charitable giving. The blockchain enables donors to trackand verify their donations, promoting high levels of transparency in thedistribution and use of funds. Due to the verifiable evidence, it offers of theresults of contributors' donations, this transparency fosters confidencebetween donors and charity organizations.

Traditionalcharitable strategies frequently involve middlemen and administrativeexpenditures, which lessen the overall impact of gifts. Due to the eliminationof these middlemen by cryptocurrency, administrative costs are decreased and abigger proportion of donations can go to the intended charitable organization.Donors can rest assured that their money is making a more significant andimmediate difference.

Donor anonymityand privacy are further advantages of cryptocurrency-based giving. While somecontributors prioritize privacy over public acknowledgement of theircontributions, others do not. Donors can support causes with cryptocurrencydonations while remaining anonymous, offering a level of anonymity that isn'talways achievable with conventional donation options.

Donations madein cryptocurrency have made it possible to sponsor creative ventures anddecentralized efforts. Platforms and protocols created expressly forcrowdfunding and philanthropic giving have been made possible by blockchaintechnology. Support for ground-breaking concepts, social companies, andgrassroots initiatives can be provided by individuals thanks to theseplatforms, which enable direct connections between donors and projects.

As a result ofcryptocurrency's inherent volatility, nonprofit organizations that needconsistent income have difficulties. To overcome this problem, severalmechanisms are being explored. By reducing price swings, stablecoins, which arecryptocurrencies backed by reliable assets, offer a solution. A more stable andpredictable environment for charitable giving in the bitcoin field is also beingensured by projects concentrating on volatility management and stabilizationfunds.

Collaborationbetween cryptocurrency charities and well-known nonprofit groups is growing.Major foundations and NGOs have taken notice of the possibilities ofcryptocurrencies and are already actively taking donations in the form ofdigital assets. By bridging the gap between conventional philanthropy and thecryptocurrency community, this partnership promotes broader acceptance andwidespread use of digital currencies in charitable giving.

Depending onthe country, cryptocurrency donations may provide tax advantages and incentivesfor donors. The use of cryptocurrencies contributionsis handled the same as regular asset contributions with tax benefits, such asexemptions or deductions. These rewards encourage people to utilizecryptocurrencies to donate to charitable causes, which promotes the expansionof cryptocurrency-based philanthropy.

While there aremany benefits to using cryptocurrencies for charitable purposes, there are alsodifficulties and issues to take into account:

Cryptocurrencyhas been hailed as a potentially transformative force in philanthropy andcharitable giving. However, despite the potential benefits, there aresignificant challenges to using cryptocurrency for charitable giving, includingthe prevalence of scams, fake projects, and fake coins.

One of the mainchallenges of using cryptocurrency for charitable giving is the prevalence ofscams and fake projects. In recent years, there have been numerous examples offraudulent ICOs (initial coin offerings), in which individuals or groups createfake coins or tokens and solicit investment from unsuspecting individuals.These scams can be difficult to detect and can lead to significant financiallosses for investors, including those who intended to donate to charitablecauses.

In addition toscams, there are significant challenges related to the verification ofcharitable organizations and projects. With traditional charitable giving,donors can typically research and vet charities before making a donation.However, with cryptocurrency, there is often limited information availableabout the organizations and projects that are seeking donations. This can makeit difficult for donors to determine the legitimacy of a charity or project and can lead to donations being misused or misappropriated.

Anotherchallenge is the lack of transparency in cryptocurrency transactions. Whileblockchain technology is designed to be transparent, the anonymity ofcryptocurrency transactions can make it difficult to track and verifydonations. This can make it challenging for charities to track and report onthe use of donated funds, and can also make it difficult for donors to ensurethat their donations are being used as intended.

Finally, thereare significant challenges related to the volatility of cryptocurrency prices.Cryptocurrencies, such as Bitcoin and Ethereum, are known for their wild priceswings, which can make it difficult for charities to budget and plan for futureprojects. This can make it challenging for donors to determine the valueof their donations, particularly if the value of the donated cryptocurrencyfluctuates significantly after the donation is made.

In recentyears, the usage of cryptocurrencies in philanthropy and charitable giving hasgrown significantly, opening up new possibilities for global giving,efficiency, and transparency. Cryptocurrencies provide quick cross-bordertransactions, transparency, and lower administrative costs, benefiting bothcontributors and nonprofits. It is clear that cryptocurrencies canrevolutionize charity, despite obstacles like volatility and regulatoryconcerns. Philanthropy is poised to become more accessible, transparent, andinfluential than ever before as more people and organizations realize theadvantages and embrace cryptocurrency-based donating.

In addition toupending established banking structures, cryptocurrency has transformedphilanthropic giving and philanthropy. The use of digital currencies for charitablepurposes has increased as they become more widely accepted. This articleexamines the expanding practice of using cryptocurrencies for charity purposesand demonstrates their profound influence on charitable donations.

For people andorganizations, cryptocurrency opens up a new channel for charitablecontributions. Cryptocurrencies promote transparency, security, and efficiencyin donations by utilizing blockchain technology. Philanthropists may helpcharities all around the world thanks to this decentralized and borderlessnature, cutting out traditional financial intermediaries and loweringtransaction costs.

Cross-borderdonations are no longer complicated or delayed by using cryptocurrency. The useof conventional techniques, such as wire transfers, might include drawn-outprocedures, expensive fees, and currency adjustments. Through the use ofcryptocurrency, contributors can send money to charitable organizations orpeople in need anywhere in the world, ensuring that aid is delivered quicklyand effectively to those who need it.

For people inunderdeveloped nations, cryptocurrency-based philanthropy has very importantimplications. Cryptocurrencies offer a way for direct access to funds andfinancial inclusion in areas with restricted access to conventional bankinginstitutions. Without the aid of middlemen, this empowerment enables people toparticipate in the economy, receive gifts, and improve their standard ofliving.

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Thearchitecture of cryptocurrencies, known as blockchain, promotes transparencyand accountability in charitable giving. The blockchain enables donors to trackand verify their donations, promoting high levels of transparency in thedistribution and use of funds. Due to the verifiable evidence, it offers of theresults of contributors' donations, this transparency fosters confidencebetween donors and charity organizations.

Traditionalcharitable strategies frequently involve middlemen and administrativeexpenditures, which lessen the overall impact of gifts. Due to the eliminationof these middlemen by cryptocurrency, administrative costs are decreased and abigger proportion of donations can go to the intended charitable organization.Donors can rest assured that their money is making a more significant andimmediate difference.

Donor anonymityand privacy are further advantages of cryptocurrency-based giving. While somecontributors prioritize privacy over public acknowledgement of theircontributions, others do not. Donors can support causes with cryptocurrencydonations while remaining anonymous, offering a level of anonymity that isn'talways achievable with conventional donation options.

Donations madein cryptocurrency have made it possible to sponsor creative ventures anddecentralized efforts. Platforms and protocols created expressly forcrowdfunding and philanthropic giving have been made possible by blockchaintechnology. Support for ground-breaking concepts, social companies, andgrassroots initiatives can be provided by individuals thanks to theseplatforms, which enable direct connections between donors and projects.

As a result ofcryptocurrency's inherent volatility, nonprofit organizations that needconsistent income have difficulties. To overcome this problem, severalmechanisms are being explored. By reducing price swings, stablecoins, which arecryptocurrencies backed by reliable assets, offer a solution. A more stable andpredictable environment for charitable giving in the bitcoin field is also beingensured by projects concentrating on volatility management and stabilizationfunds.

Collaborationbetween cryptocurrency charities and well-known nonprofit groups is growing.Major foundations and NGOs have taken notice of the possibilities ofcryptocurrencies and are already actively taking donations in the form ofdigital assets. By bridging the gap between conventional philanthropy and thecryptocurrency community, this partnership promotes broader acceptance andwidespread use of digital currencies in charitable giving.

Depending onthe country, cryptocurrency donations may provide tax advantages and incentivesfor donors. The use of cryptocurrencies contributionsis handled the same as regular asset contributions with tax benefits, such asexemptions or deductions. These rewards encourage people to utilizecryptocurrencies to donate to charitable causes, which promotes the expansionof cryptocurrency-based philanthropy.

While there aremany benefits to using cryptocurrencies for charitable purposes, there are alsodifficulties and issues to take into account:

Cryptocurrencyhas been hailed as a potentially transformative force in philanthropy andcharitable giving. However, despite the potential benefits, there aresignificant challenges to using cryptocurrency for charitable giving, includingthe prevalence of scams, fake projects, and fake coins.

One of the mainchallenges of using cryptocurrency for charitable giving is the prevalence ofscams and fake projects. In recent years, there have been numerous examples offraudulent ICOs (initial coin offerings), in which individuals or groups createfake coins or tokens and solicit investment from unsuspecting individuals.These scams can be difficult to detect and can lead to significant financiallosses for investors, including those who intended to donate to charitablecauses.

In addition toscams, there are significant challenges related to the verification ofcharitable organizations and projects. With traditional charitable giving,donors can typically research and vet charities before making a donation.However, with cryptocurrency, there is often limited information availableabout the organizations and projects that are seeking donations. This can makeit difficult for donors to determine the legitimacy of a charity or project and can lead to donations being misused or misappropriated.

Anotherchallenge is the lack of transparency in cryptocurrency transactions. Whileblockchain technology is designed to be transparent, the anonymity ofcryptocurrency transactions can make it difficult to track and verifydonations. This can make it challenging for charities to track and report onthe use of donated funds, and can also make it difficult for donors to ensurethat their donations are being used as intended.

Finally, thereare significant challenges related to the volatility of cryptocurrency prices.Cryptocurrencies, such as Bitcoin and Ethereum, are known for their wild priceswings, which can make it difficult for charities to budget and plan for futureprojects. This can make it challenging for donors to determine the valueof their donations, particularly if the value of the donated cryptocurrencyfluctuates significantly after the donation is made.

In recentyears, the usage of cryptocurrencies in philanthropy and charitable giving hasgrown significantly, opening up new possibilities for global giving,efficiency, and transparency. Cryptocurrencies provide quick cross-bordertransactions, transparency, and lower administrative costs, benefiting bothcontributors and nonprofits. It is clear that cryptocurrencies canrevolutionize charity, despite obstacles like volatility and regulatoryconcerns. Philanthropy is poised to become more accessible, transparent, andinfluential than ever before as more people and organizations realize theadvantages and embrace cryptocurrency-based donating.

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Transforming Philanthropy: The Impact of Cryptocurrency in Charitable Giving - Finance Magnates

Faith in cryptocurrency has been plundered by various disasters visiting the industry of late. The FTX crash left cryptocurrency reeling in the US market with federal crackdowns ensuing almost imminently as American authorities sought regulations to counter the dangers posed by a sector completely uninhibited. Its understandable that confidence might be shaken but in this article, well look at how Bitcoin (BTC), Ethereum (ETH), and the new cryptocurrency PAT WARS (PAW) could revitalise belief in the crypto market.

In a bold move, Sam Bankman-Fried, the mastermind behind the now-defunct cryptocurrency exchange FTX, has launched a comprehensive legal defence against the fraud accusations levelled against him. The founder, through his legal team, seeks to dismiss multiple charges while accusing the prestigious law firm representing FTX in its bankruptcy, Sullivan & Cromwell, of aligning with federal prosecutors to serve their interests.

Late on Monday, court filings unveiled Mr Bankman-Fried's strong assertions that FTX and its attorneys had inadvertently become proxies for the government, assisting in constructing the criminal case against him and potentially withholding critical evidence.

According to the legal documents, FTX's legal advisors, in an unexpected turn, approached the government and accused Mr Bankman-Fried without full knowledge of the pertinent facts, ultimately resulting in his forced resignation as CEO. The lawyers emphasized that this move occurred behind his back, without affording him the opportunity to present his side of the story.

For an extended period, Sullivan & Cromwell has allegedly channelled documents and other forms of evidence directly to the prosecution, as outlined in the filings. Remarkably, Mr Bankman-Fried's defence team claimed that the prosecutors had exclusively requested incriminating evidence, overlooking the possibility that FTX possessed material that could potentially support their client's defence.

As the legal battle intensifies, the complex relationship between FTX, the government, and Sullivan & Cromwell continues to unfold, leaving the cryptocurrency community and financial observers eagerly awaiting further developments in this high-stakes case.

Bitcoin and Ethereum, the two leading cryptocurrencies, have garnered significant attention in the investment landscape. While both offer distinct features and use cases, they share common attributes that make them appealing investment opportunities. In this article, we delve into why Bitcoin and Ethereum continue to attract investors and are still considered strong choices within the crypto market.

Bitcoin's reputation as the pioneer of cryptocurrencies and its limited supply makes it a compelling investment. Its decentralized nature, secured by the underlying blockchain technology, ensures transparency and trust in transactions. Bitcoin's scarcity, with a fixed supply of 21 million coins, instils confidence in its value preservation potential leading to its reputation as digital gold. As a hedge against inflation and economic uncertainty, Bitcoin has gained favour among institutional investors seeking to diversify their portfolios and protect against traditional market risks.

Ethereum offers more than just a digital currency; it provides a platform for decentralized applications (DApps) and smart contracts. The Ethereum network's programmability enables developers to create and deploy their applications, fostering innovation and expanding possibilities in sectors such as finance, gaming, and supply chain management. Ethereum's native cryptocurrency, Ether (ETH), is integral to its ecosystem, serving as fuel for executing transactions and incentivizing network participants.

Investing in Ethereum allows individuals to gain exposure to the growing ecosystem of DApps, which have the potential to disrupt traditional industries and unlock new revenue streams. Moreover, with the upcoming Ethereum 2.0 upgrade, which aims to improve scalability and energy efficiency, the platform's long-term prospects appear even more promising.

Loss of faith in cryptocurrency isnt new and is almost a cyclical emotional current that courses through the industry. In time, it gives way to excitement produced by the unearthing of a new cryptocurrency project that gets everyones blood flowing and mouths talking. PAT WARS could be the project that inspires this confidence.

PAT WARS is a new meme coin entering its presale that will hope to catch the excitement. With an ever-so-subtle nod to Star Wars, it presents itself as an inclusive and decentralised community-owned cryptocurrency, one that belongs to its users. Its ecosystem reflects this too, offering features that embed its members into its decision-making process and more.

Website:https://www.patwars.com

Twitter:https://twitter.com/PATWARSOfficial

Telegram:https://t.me/PATWARSOfficial

Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein.

The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the views, opinions, announcements, declarations, affirmations etc., stated/featured in same. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice.

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PAT WARS, Bitcoin And Ethereum Can Restore Faith In Cryptocurrency After FTX Crash, Analysts Say - Hindustan Times

Generational differences in investment behaviour among consumers in Ireland has been highlighted in a survey by Banking & Payments Federation Ireland.

It found that younger people more likely to invest in cryptocurrencies and invest online, and under 35s are more likely to seek information about investments through informal channels such social media or friends and family.

The findings, which show that one in three adults in Ireland have some form of investment, also reveals that one in five younger people hold cryptocurrencies such as bitcoin or Ethereum.

BPFI said it is concerning that one in five consumers who hold investments said they did not closely monitor their investments with 16% indicating they did not understand the fees and taxes they needed to pay for their investments.

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"Across all age categories however, we see that Irish investors are conservative in their approach to financial and investment decisions with most considering the level of risk involved and the expected return as the most important factors when considering where to invest," said BPFI Chief Executive, Brian Hayes.

"However, it is a cause for concern that one in five investors indicated that they did not closely monitor the performance of their investment and 16% indicated they did not understand the fees and taxes they needed to pay for their investments."

The survey also found that men are much more likely to hold investments (44%) than women (26%).It found the main types of investment are stocks or shares (held by 15% of adults), investment funds (11%), government or corporate bonds (8%) and cryptocurrencies (8%). Cryptocurrencies are most likely to be held by 18-34 year olds (16%) compared to only 3% of over 55s.

The survey showed that investment funds and government or corporate bonds appeal most to those aged over 55: 17% and 12%, respectively. Stocks and shares appeal to all age groups.

Advisors in brokers or banks and investment companies were the most used sources of information on investing, at 38% and 35%, respectively.

"Investment products can offer a good opportunity to grow your money in the longer term but as investment options continue to diversify it is important make informed decisions, understand the product and monitor its progress," Mr Hayes said.

"In the digital era, there are multiple sources of advice and information which can be helpful but consumers should consider balancing this with professional advice through your bank or broker, not only to help mitigate risk, but also identify the wide range of opportunities that best meet their needs and means."

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Younger people more likely to invest in cryptocurrency BPFI - RTE.ie

SunCrypto being the leading cryptocurrency exchange/platform has received love from more than 1 million people in the short span of just 1.5 years. And has been continuously growing to become the best exchange for all Indian users including Tier3, and Tier4 cities.

The founders of SunCrypto Mr. Umesh Kumar and Mr. Pramod Yadav had a vision of creating Indias simplest platform for people to trade in crypto. Based on their tough experience of crypto trading, they decided to build an exchange that will be easy enough to be used by all three generations. Not only this they focused on providing security and partnered with Ledger, the top cold wallet service provider. This collaboration promised the best security and insurance of $150 Million to SunCrypto users.

SunCrypto founders turned its business into this success with their respective skills in the marketing and IT field where Mr. Umesh Kumar (Founder & CEO) comes from Marketing and Mr. Pramod from the IT field and is now also the CTO & Co-founder of the company.

Why SunCrypto Is Getting So Popular?

Fintech is not similar to any entertainment industry where you can get popular based on hype and attention only. To make your name in the Fintech world a company has to provide the top services, education, and platform to learn and grow. This is what made SunCrypto successful as it focused on its motto of Learn & Earn, where the exchange grew from a crypto exchange to an educator for crypto users. SunCrypto runs its Youtube channel and SunCrypto Academy to educate its users and other crypto enthusiasts about the cryptocurrency and blockchain industry.

SunCrypto Collaborated With TaxCryp

After the government introduced the 1% TDS and 30% tax, the problems of crypto users were far more than just paying the tax. That is the need of calculating the profits and losses and analyze the data for the whole financial year. And because of that SunCrypto joined hands with the leading taxation platform TaxCryp to make the tax calculation part easier for all SunCrypto users.

This collaboration must be solving the biggest issues of tax calculation for crypto users. Here users got the one-touch integration of Taxcryp on SunCrypto and because of that users could directly see their trade report and summary from the SunCrypto and TaxCryp will provide the data of the exact amount that the individual needs to pay to the Indian government. With this SunCrypto has cleared two goals, one becoming the best cryptocurrency platform to use. Secondly, It became one of the earliest exchanges to implement one-touch integration with Taxcryp to generate crypto taxation reports and limited the daunting process of crypto tax calculation.

TaxCryp Becoming A Reliable Source For SunCrypto Users

Taxcryp is not any simple taxation platform as its more focused on empowering the customers to get complete control of their tax obligations, along with making informed decisions. Taxcryp as a company was started in April 2022 with its three founders Mr. Anmol Chawla, Mr. Indy Sarker, and Mr. Vaibhav Gupta.

Meet Indy Sarker, a seasoned capital markets professional turned entrepreneur, co-founding ANALEC and spearheading innovative financial technology solutions. Joining him on this journey is Anmol Chawla, a dynamic entrepreneur passionate about driving India's digital assets ecosystem forward. Adding to the team is Vaibhav Gupta, a tax specialist with extensive consulting experience, providing invaluable tax and regulatory expertise to TaxCryp. Altogether, Indy, Anmol, and Vaibhav aim to revolutionize India's crypto landscape with TaxCryp's smart technology, ensuring accuracy, transparency, and compliance.

Closing Thoughts

The collaboration between SunCrypto, and TaxCryp, is set to revolutionize the crypto landscape in India. SunCrypto's rapid growth and popularity can be attributed to its focus on simplicity, security, and education for its users.

By partnering with TaxCryp, SunCrypto addresses the challenges of tax calculation and provides a seamless solution for its users. Together, they are driving the transformation of India's crypto ecosystem with their commitment to accuracy, transparency, and compliance.

(Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.). PTI PWRPWR

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SunCrypto- Indias Leading Cryptocurrency Exchange Collaborates With Taxation Giant TaxCryp - The Week

RIDGWAY-Following a year of complaints and protests about a cryptocurrency Bitcoin mine in Ridgway Township on Long Level Road, the Ridgway Township Supervisors have crafted an ordinance to address current and future mining operations. Beginning at 6:30 p.m. on Tuesday, residents could view, ask questions, and voice concerns over the new ordinance that the supervisors and their attornies have drafted to address Bitcoin mines in the township. After the public hearing, in the regular meeting, the supervisors approved ordinance number 122, which begins the process of passing the new cryptocurrency zoning law with the first advertisement of the ordinance. A copy of the proposed ordinance is available for public viewing at the Ridgway Township offices during regular business hours. Ironically, the Bitcoin mine that was the source of all the controversy and complaints was moved out of the township and into a neighboring municipality in the past few months. This ordinance protects residents against future mines that may attempt to be constructed in the area. The ordinance follows similar zoning restrictions that have been enacted in Fox Township and St. Marys.

Read more Ridgway Township news in Thursday's Ridgway Record

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Ridgway Township moves ahead with cryptocurrency ordinance ... - Ridgway Record

Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvadors adoption of Bitcoin (BTC) as a legal tender.

Congressional records showIdaho Senator James Risch and New Jersey Senator Bob Menendez introduced a bill to require reports on the adoption of cryptocurrency as legal tender in El Salvador on May 11. The legislation appeared to be a second attempt at the Accountability for Cryptocurrency in El Salvador Act, which Risch introduced in February 2022, mere months after El Salvadors Bitcoin Law came into effect.

According to a May 12 report from the Washington Examiner, Risch introduced the bill as part of efforts to fight using cryptocurrency as legal tender, claiming it could weaken economic and financial stability and empower malign actors. Bitcoin has been accepted as legal tender in El Salvador alongside the U.S. dollar since September 2021.

If passed, the bill could require federal agencies in the United States to report on El Salvadors cybersecurity and financial stability capabilities, and how these may have led to the passage of the countrys Bitcoin Law. The International Monetary Fund also warned the Central American nationin February to consider the risk of BTC as a legal tender on the countrys financial integrity and stability.

The previous version of the Bitcoin-focused legislation introduced in the Senate passed through a committee in April 2022. Lawmakers in the House of Representatives also introduced a companion bill, but according to congressional records, the legislation has not moved in more than a year.

Related: El Salvadors Bitcoin strategy evolved with the bear market in 2022

El Salvadors President Nayib Bukele directly attacked U.S. lawmakers as boomers on Twitter the last time the bill was introduced, claiming they were attempting to interfere with a sovereign and independent nation. Under Bukele, the country has adopted many pro-crypto policies, including plans to raise funds to construct a Bitcoin city using BTC-backed bonds.

Magazine: What its actually like to use Bitcoin in El Salvador

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US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill - Cointelegraph

This article gathers how Data science is used in making cryptocurrency predictions.

Nowadays, there is the widespread use of cryptocurrencies, and their popularity can suddenly increase or drop. It is also challenging to forecast the price of cryptocurrencies. It is a wise decision to select technology for cryptocurrency predictions to thrive in this turbulent industry. To forecast the performance of several cryptocurrencies, some businesses use data science. The causes of the fluctuations in the pricing of these coins can be discovered using data science. Afterward, forecast whether the price will rise or fall in the future. This article gathers how Data science is used in making cryptocurrency predictions, lets explore.

Data science involves a combination of statistical analysis, machine learning, and programming to extract insights from large datasets. By applying data science techniques to cryptocurrency data, analysts can identify patterns and trends that may help predict future price movements.

Here are some ways that data science is used in making cryptocurrency predictions:

SM Blurb: Data science is a crucial tool for forecasting the bitcoin market. Large datasets of historical and current data can be analyzed to find patterns and trends that could predict future price changes.

Hashtags: #DataScienceUsedInMakingCryptocurrencyPredictions#CryptocurrencyPredictions #DataScience #ForecastThePriceOfCryptocurrencies #Cryptocurrency

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How Data Science is Used in Making Cryptocurrency Predictions? - Analytics Insight

The US leads on many things, from political partisanship to technological innovation, but if there is one field where the country risks being left behind, its the burgeoning cryptocurreny sector.

Although crypto took a significant reputational hit in 2022 on the back of various crises, from the two-trillion-dollar market dip to FTXs incredible collapse, institutional crypto firms, a heady mix of centralised exchanges, Web3 developers, banks and other innovators, have continued to build.

But it appears that US policymakers and regulators are less than bullish on this little-understood, nascent sector.

Driving the point home is the fact that crypto exchange Coinbase, far and away the largest publicly listed crypto corporation, seems to have a few regrets about making US its global hub.

The US has the potential to be an important market in crypto, but right now, we are not seeing that regulatory clarity needed, Coinbase chief Brian Armstrong told former UK Chancellor of the Exchequer George Osborne at a fintech conference on Tuesday.

Asked by Osbourne whether hed consider relocating to Britain, Armstrong, in rather laisse faire fashion, said anything is on the table including, you know, relocating or whatever is necessary.

Regulatory clarity will be the thing that will unlock growth in crypto, Armstrong told a CNBC journalist on his UK tour.

That doesnt bode well for the USs maligned regulation-by-enforcement approach, as illustrated by the regulators knee-jerk reactions and off-the-cuff actions against the likes of Coinbase, Binance, Kraken, Gemini and just about every other crypto firm of notable footprint.

The Wells Notice issued by the US Securities and Exchange Commission (SEC) in March is the perfect case in point.

Wells Notices are typically precursors to regulatory enforcement actions, but to this day Coinbase has not been given any clarity over the nature of the SECs pending enforcement.

Armstrong said over 30 meetings with the SEC in the past year have failed to give any real insight into what the regulator wants from the group.

Why would a company want to work in such a belligerent environment when other major jurisdictions have made significant headway into providing regulatory clarity?

Worse still is the fact that US regulators cant even decide who has jurisdiction; the SEC and the Commodity Futures Trading Commission have been butting heads over who has the remit. Theres no such issue in the UK, where commodities and securities both come under the remit of the Financial Conduct Authority (FCA).

Britain has been actively engaged in the crypto regulation debate under prime minister Rishi Sunak, who has long touted Britains potential as a global crypto hub.

The UK launched a consultation in February on the matter, though as previously discussed in Proactive, there are blind spots when it comes to investor protections and compensation.

The 27-member European Union, meanwhile, is poised to harmonise most aspects of crypto regulation under the bloc-wide Markets in Crypto-Asset (MiCA) bill, due to be voted on this Thursday.

We should be wary of calling these various consultations and bills particularlypro-crypto; they will likely usher in a wave of stringent reporting requirements, securities law mandates and could even force the exchanges into reevaluating how they do business.

But theyre invariably the preferred option compared to the regulation-by-enforcement guessing game.

Post-Brexit, the UK and EU have taken slightly different approaches in their efforts to open up the cryptocurrency market.

Built from the ground up, the EU MiCA bill is tailored specifically to the nascent sector, while the UK is attempting to retrofit existing regulatory mechanisms.

If you ask former UK chancellor and ardent remainer Phillip Hammond, the EU approach is so good that it presents a real risk to financial services innovation in London.

It is a very uncomfortable proposition to think that with the MiCA vote coming up, we could see the European Union offering a trading environment which is more permissive and looks more attractive to institutions and to innovators than the UK does, Hammond said on a recent episode of The Crypto Mile.

Europe often leads the way in these sorts of things. No better example was GDPR, the EU regulatory framework that quickly became the global benchmark on personal data and privacy.

The UK retained the law in its exact form after leaving the bloc, while the California Consumer Privacy Act has fundamentally similar parallels.

More recently, the 2022 Digital Markets Act, which targeted abusive market actions of the gatekeepers of the digital economy (think Meta, Amazon, Google et al) had implications far beyond the EUs borders given the crippling fines Big Tech companies face for breaching the directive.

Then theres the fact that major UK banks including Nationwide Building Society, HSBC and NatWest have implemented, some would say overly harsh, bans on crypto-adjacent using their services.

Perhaps the UK, too, risks being left behind if it doesnt form a cohesive vision among all major stakeholders.

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US cryptocurrency sector risks being left by the wayside - Proactive Investors USA

LONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions.

It is a scenario that concerns U.S. regulators, who have expressed doubt about the safety and soundness of bank business models that are highly focused on crypto clients after Silvergate Capital Corp (SI.N), Signature Bank and Silicon Valley Bank imploded.

U.S. regulators have also told banks to be alert for liquidity risks coming from crypto-related deposits, which could be subject to rapid outflows if customers try to redeem their crypto assets for real money.

Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation.

"Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. Foster said the issue has become "significantly worse" recently.

This has left digital asset companies with little choice but to seek out smaller financial institutions, some in remoter corners of global finance.

A spokesperson for FV Bank, a U.S.-licensed fintech-focused bank in Puerto Rico, said that it has seen an uptick in inquiries from potential customers in recent weeks, even though it is not insured by the Federal Deposit Insurance Corp. The bank does not lend and is therefore not subject to the same type of risks as traditional banks that operate on a fractional reserve system, a spokesperson said.

In Liechtenstein, a spokesperson for Bank Frick said it has also experienced a "significant increase in account opening requests," with the largest portion of inquiries coming from firms in Europe, Singapore and Australia.

However, the bank is not purely focused on crypto and has a broadly diversified business model, the spokesperson said.

Switzerland-based Arab Bank told Reuters in March it had seen an increase in U.S. firms, mostly crypto funds or those involved in crypto venture capital, seeking to open accounts, but that the bank was unlikely to accommodate all of them.

While ZA Bank in Hong Kong, a digital bank, said it had seen about four times more enquiries from crypto firms seeking accounts after Silicon Valley Bank's collapse, although it said it would only accept firms licensed to trade virtual assets.

Nikki Johnstone, a partner at the Allen and Overy law firm in London, said that the "concentration risk" that comes from a growing number of clients seeking business from the smaller firms is the "biggest challenge" of having reduced crypto banking options.

"That places a greater degree of expectation on that firm to apply the right level of risk management and monitoring," she said.

Cryptocurrency companies need access to banks to hold customers' dollar deposits and for day-to-day business activities.

"Of course the motto of crypto is 'we are going to replace the banks', but first of all, we are not there yet, and I dont think we will be there ever," said Paolo Ardoino, the chief technology officer of Tether, the largest stablecoin by market capitalisation, whose reserves have previously been the subject of investor scrutiny.

Several top banks told Reuters that they are currently turning most potential crypto-related customers away, while others said they are only working with top-tier firms - policies that most say are unchanged from their historical positions.

JPMorgan Chase (JPM.N) is not onboarding any clients that are primarily crypto businesses anywhere in the world, according to a source familiar with the situation, with the exception of a select few firms including Coinbase (COIN.O), which has disclosed that it deposits customer funds at the bank.

The person said this policy has long been its stance.

A source familiar with the Bank of New York Mellon (BK.N) said that while the bank examines any crypto company that seeks to become a customer, it is "very, very rigid" in its vetting process and has only taken on clients on a case-by-case basis. Circle, the principal issuer of USD Coin, custodies a portion of its reserves with BNY Mellon.

A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited."

Allen and Overy lawyer Johnstone said that banks are often cautious due to the heightened money-laundering risk in the crypto sector and a lack of robust crypto regulation.

To be sure, some of the largest cryptocurrency companies have ongoing relationships with U.S. banks. Circle, the principal issuer of USD Coin, custodies a portion of its reserves with Customers Bank, and Gemini says it custodies the reserves for its stablecoin at State Street Bank and Goldman Sachs (GS.N) . Coinbase has disclosed that it deposits customer funds at Cross River Bank in addition to JPMorgan Chase.

But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.

"Theres certainly a concern about a lack of banking partners available in the market now, notably for the smaller and less-proven ventures," he said.

Reporting by Elizabeth Howcroft in London and Hannah Lang in Washington; additional reporting by Mehnaz Yasmin and Georgina Lee; Editing by Elisa Martinuzzi and Sharon Singleton

Our Standards: The Thomson Reuters Trust Principles.

Thomson Reuters

Reports on the intersection of finance and technology, including cryptocurrencies, NFTs, virtual worlds and the money driving "Web3".

Thomson Reuters

Hannah Lang covers financial technology and cryptocurrency, including the businesses that drive the industry and policy developments that govern the sector. Hannah previously worked at American Banker where she covered bank regulation and the Federal Reserve. She graduated from the University of Maryland, College Park and lives in Washington, DC.

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Analysis: Crypto firms scramble for banking partners as willing ... - Reuters

AltSignals new cryptocurrency has seen remarkable success during its token presale, raising significant funds in just a few short weeks. This innovative trading platform, soon to be backed by advanced AI technology and with a dedicated team, has captured the attention of crypto investors worldwide.

This article explores the factors that make this new cryptocurrency, ASI, a promising investment opportunity and why it has garnered such interest in the crypto community.

AltSignals is a trading platform designed to provide users with accurate and reliable trading signals. With an average accuracy of 64% and over 1,500 signals sent, it has already established itself as a trustworthy source of information for traders. The introduction of the ActualizeAI layer aims to improve signal accuracy to 80% and above, making AltSignals even more attractive to investors.

The new system will employ a blend of linear regression algorithms, anticipatory modeling, and NLP (Natural Language Processing) to estimate future values of assets by analyzing their past behavior. As artificial intelligence accumulates additional information, it will integrate time-series projection techniques to boost its forecast precision.

The ASI token is the native currency within the AltSignals community. It plays a crucial role in various platform aspects, such as trading tournaments, community contributions, and product development. Most importantly, token holders can access the ActualizeAI tech stack.

During the token presale, 58% of the total ASI token supply will be made available to investors. The funds raised during the presale will be allocated to various aspects of the project, such as development, exchange liquidity, marketing, and DEX listings.

AltSignals has built a robust community that plays an integral part in the platforms development and decision-making processes. The projects focus on decentralization and community governance ensures that the voices of its users are heard and that their interests are taken into account.

By hosting trading tournaments, AltSignals will allow users to compete for prizes in money, ASI tokens, and bragging rights as the top trader. This adds an element of competition and excitement to the trading experience, further strengthening the communitys involvement.

The ASI token presale offers investors a unique opportunity to participate in a new cryptocurrency project with solid fundamentals and immense growth potential. The funds raised during the presale will be used for platform development, ensuring that the platform continues to improve and meet the needs of its users.

Moreover, the AltSignals team has implemented a burn/buyback mechanism, allowing the community to decide if limiting the overall circulating supply benefits the project. This decision-making power ensures that the communitys best interests are always prioritized so they can make the best crypto investments.

Security is paramount for any crypto investment, and AltSignals has considered this by storing ASI tokens in secure multi-signature wallets. These wallets require at least two private- key signatures to approve any transactions, ensuring the security of the treasury and safeguarding investors funds.

The AltSignals product roadmap is outlined in the projects whitepaper, which will be revised as needed during development. This roadmap demonstrates the teams commitment to constant improvement and adaptation to ensure the platform remains at the forefront of the trading industry.

AltSignals has laid out a clear and ambitious roadmap that outlines the development and growth of the service. The projects landmark achievements include integrating ActualizeAI, which aims to expand signal precision for trading signals to 80% and above.

Additionally, the platform plans to enhance its AI models by exploring reinforcement learning and risk management, ensuring the system becomes increasingly accurate through trial and error testing.

As AltSignals progresses along its roadmap, investors can expect to see the project continually expanding its offerings and solidifying its position as a leader in the trading industry. This demonstrates the long-term vision and commitment of the AltSignals team, making it an even more appealing crypto investment opportunity for those looking to participate in the growing cryptocurrency market.

The AltSignals new cryptocurrency has proven itself as a promising crypto investment opportunity, raising $585k so far during its token presale. The platforms unique features make it stand out from other financial service providers.

The ASI token allows investors to participate in a project with solid fundamentals and immense growth potential while being part of a thriving community focused on decentralization and governance. As AltSignals continues to revolutionize the trading industry, early investors in this new cryptocurrency are positioned to benefit from its success.

With the combination of innovative tools, cutting-edge machine learning algorithms, and a strong roadmap for future development, AltSignals is poised to become an industry leader, providing traders and investors with the tools they need to succeed in the fast-paced world of cryptocurrency investing. Dont miss this opportunity to be part of the stage 1 presale phase of a project reshaping the future of trading and offering the potential for unparalleled returns for its supporters.

You can participate in the ASI presale here.

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AltSignals New Cryptocurrency Presale Hits $585k. What Is the ASI ... - Analytics Insight