Crypto Guides, Knowledge & Insights

Indian Cryptocurrency Bill Might Get Delayed Again

The much-awaited Indian cryptocurrency bill might not get tabled during the ongoing parliament session as promised by the government earlier, said a report published in Economic Times.　　The cryptocurrency bill in question was expected to bring new regulations for the Indian crypto market, and going by the hype around it along with the positive comments made by Indian Finance, many believed Indians could not just introduce but also pass the bill. However, as per the latest reports, the crypto bill hasnt been finalized.　　The draft bill needs to get cabinet approval before being introduced for discussion in the parliament, and sources familiar with the matter said it hasnt been finalized yet.　　The proposed ‘Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ is not on the agenda of Union Cabinet meeting scheduled on December 15, sources confirmed.　　The ongoing parliament session has also been cut short amid protests from the opposition and the suspension of a few members of parliament. The suspended MPs have been protesting over the passing of key bills within minutes and without any deliberate discussion.　　Indian Crypto Ecosystem Will Have to Wait Longer　　The Indian cryptocurrency bill is getting delayed again and the growing Indian ecosystem would have to wait for another

2021-12-15Deep Dive

Switzerland’s Largest Online Bank Plans to Launch Crypto Exchange Next Year

Switzerland‘s largest online bank, Swissquote, is planning to launch a cryptocurrency exchange early next year to meet clients’ surging demand for digital assets.　　Swissquote to Launch Crypto Exchange　　The bank‘s sales manager Jan De Schepper shared the company’s plans to roll out a crypto trading platform during an interview with Finews.asia.　　“We want to enable more trading in various cryptocurrencies on the platform,” he said, adding that the companys compliance and customer service teams were almost overrun by the recent crypto rush.　　Founded in 2000, Swissquote Group Holding SA is the largest online banking institution in Switzerland. The company has been a long-term admirer of the crypto industry, and it has been seeking ways to engage and offer digital asset services to its clients.　　First Bank to Offer ICOs　　Back in 2018, Swissquote announced that its clients could participate in Initial Coin Offerings (ICOs) through its platform picking LakeDiamond (LKD) as its first ICO issuer. The move made the organization the first bank in the world to offer such services.　　Swissquote aims to use its upcoming crypto exchange to dive deeper into the industry and become the leading Swiss provider of digital assets. It plans to expand its crypto offering by enabling staking services and adding more

2021-12-15Deep Dive

If you are hodling Cardano, SUSHI or UNI, you are most likely in loss

There is no denying the fact that the crypto industry is currently bleeding as the market cap of the industry which recently touched a high of over $3 trillion is now barely above the $2 trillion mark.　　This has had a ripple effect on the market and addresses holding a number of certain digital assets appear to be the most affected.Cardano, Sushiswap and Uniswap holders are in red　　According to data from IntoTheBlock, over 70% of addresses holding Cardano are currently at a loss. Other notable crypto assets whose holders are at a loss include Sushiswap with over 80% and Uniswap at 71%.　　You‘ll recall that we reported that Cardano’s price had dropped rapidly after the digital asset had reached a peak of $3.10 in early September. Since then, the asset has lost over 50% of its value and also its position as top 5 crypto asset by market cap.　　Available data on CryptoSlate shows that ADA has lost over 5% within the last 24 hours and over 15% within the last 7 days.　　For Sushi and Uni, the native tokens of two leading decentralized exchanges, their values have plummeted rapidly since reaching a new ATH earlier in the year. Sushi, for instance, has lost

2021-12-15Deep Dive

Pollen DeFi announces IDO on Roco Finance launchpad

DeFi index platform Pollen recently announced its PLN token IDO on Roco Finance launchpad.　　Roco Finance is a decentralized GameFi platform built on Avalanche, which, besides providing blockchain services to game developers, content creators and player communities, also mediates with the RocoStarter IGO platform to promote up-and-coming projects at the seed and incubation stage.RocoStarters first DeFi IDO　　Pollen DeFi is an innovative DeFi protocol, designed to enable community managed asset portfolios and associated indexes. It recently opened the registration for its IDO on RocoStarter.　　According to the protocols design, the platform will allow traders to build a reputation and climb the leaderboard while earning rewards.　　At the same time, ‘passive’ users are enabled to delegate governance tokens and share rewards with those who are successfully managing portfolios. 　　“We intend to be a key project in the Avalanche ecosystem,” wrote Pollen on Twitter, adding that the decision not to launch on Ethereum was made “following the feedback from the community.”Democratizing access to curated crypto portfolios　　The protocols governance token, PLN, is central to all activity in the Pollen DeFi ecosystem.　　PLN enables users to actively manage a portfolio on the platform and, if successful at it, to earn more PLN as rewards. 　　The token also enables ‘passive’

2021-12-15Deep Dive

Why Binance withdrew its Singapore license application, and what this means for Zilliqa

Binance CEO Changpeng Zhao (CZ) set the record straight regarding his firm withdrawing its crypto trading permit application with the Monetary Authority of Singapore (MAS).　　Since the summer, the troubled crypto exchange has been at odds with global regulators. This has forced numerous changes in how Binance conducts its business, including reducing leverage to a maximum of x20. And, the end of September saw it stop fiat deposits for Singaporean users.　　More recently, happenings in Singapore have accelerated. Not only did Binance withdraw its crypto trading permit application in the sovereign island city-state, but the firm also announced it would cease operations effect from February 13, 2022.Binance Singapore to shut next year　　In an announcement to its Singaporean users on Monday, Binance said it intends to withdraw its license application with MAS and wind down its services.　　The message laid out a timeline of actions to facilitate withdrawing from the region, beginning immediately with the closure of new users to the platform.　　It also advised existing users to withdraw funds before the February 13 deadline, warning that failure to comply would trigger a costly withdrawal procedure to recover funds.　　The firm said it was not a decision taken lightly and apologized for the inconvenience.　　“The decision has

2021-12-15Deep Dive

Gensokishi Online “META WORLD” enters into a technical alliance with Polygon

Gensokishi Online “META WORLD” recently announced entering into a technical alliance and partnership with Polygon and Polygon Studios.　　While combining “Free to Play”, “Play to Earn” and “User Generated Contents to Earn” elements into one game, Gensokishi Online “META WORLD” is set to conquer the GameFi sector.Choosing Polygon　　While introducing diverse UGC to Earn and P2E features into the gameplay, Gensokishi was inclined to opt for a platform that leverages the optimal transaction speed, as well as low gas fees.　　“We decided that Polygon (MATIC) was the only service that could solve these issues in the smartest way, and so we entered into a technical alliance and partnership with Polygon & Polygon Studios,” said the Gensokishi team in the announcement.　　“The Gensokishi Online project is a game from Japan that has already been released on playstation4 and Nintendo switch. It will be a GameFi version of a game that already has users in the gaming metaverse,” said Arjun Krishan Kalsy, VP of Growth at Polygon.　　“We are glad that such a traditional game has entered the crypto industry and deployed on Polygon,” he added, assuring that the platform will continue to support Gensokishi in its future success.Monetize Point　　Besides various NFTs featured in the game, including

2021-12-15Deep Dive

Mike Novogratz Has Bearish Warning About Crypto

Mike Novogratz, CEO of crypto giant Galaxy Digital, expect cryptocurrencies to have a rocky start in 2022:　　“Crypto has come off a lot from the highs. It trades heavy.”　　In a recent interview with CNBC, he said that crypto could go either “sideways” or “down,” excluding a bullish scenario.　　He explained that the ongoing stock market correction could throw a wrench into the works for crypto. He points to the fact that the price charts of Apple, Tesla, Nvidia, the companies that rule the roost in the U.S. equities market, are now broken from a technical perspective. Hence, he expects equities to perform poorly in December and have an underwhelming start in January.　　Novogratz also pointed to the non-fungible token craze as a sign of excessive froth in the market.　　On top of that, many will have to pay taxes or take some profits in order to buy real estate, says the crypto billionaire:　　“You are seeing some indigestion. Its probably healthy. If you are long, it feels painful.”　　 Novogratzs mid-term outlook　　The crypto mogul says that hes not worried about the state of the crypto market in the mid-term because he constantly sees people getting ready to dive into the space.　　Novogratz has reiterated that bulls will

2021-12-15Deep Dive

Thailand to Unveil Detailed Regulation for Cryptocurrencies Next Year

The Bank of Thailand (BoT) plans to suggest comprehensive legislation on the digital asset industry in January next year. The rules will aim to reduce the risks to the financial network and provide greater protection for investors.　　‘Cryptocurrencies Cannot Be a Means of Payment’　　During a recent interview for The Bangkok Post, Sethaput Suthiwartnarueput – Governor of Thailands central bank – said the institution will release a consultation paper on “Financial Landscape” in January 2022. The document will draw the red lines for those dealing with bitcoin and the altcoins, the boss added.　　Despite the increasing interest in digital currencies, investing in them hides certain risks. That is why the proposed rules will seek to offer better protection for those involved in the asset class.　　The Bank of Thailand will work together with the nation‘s Securities and Exchange Commission and the Finance Ministry. The trio will aim to forbid digital assets from becoming a means of payment inside the country’s borders.　　Governor Suthiwartnarueput also warned that digital assets are currently highly volatile despite their potential to prosper in the monetary system.　　It‘s also worth noting that the central bank of Thailand recently urged local money institutions to stay away from cryptocurrencies citing risks coming from their

2021-12-15Deep Dive

Shiba Inu Listed by Spain's Biggest Crypto Exchange

Spanish cryptocurrency Bit2Me has announced that it now supports Shiba Inu, the best-performing cryptocurrency of the year.　　This comes seven months after it added support for Dogecoin, the first meme cryptocurrency.　　Founded back in 2014, Bit2Me remains the number one exchange in Spain, experiencing 1,200% annual growth.　　In September, the trading platform launched B2M, an Ethereum-based native token, and ended up raising $23.9 million (20 million euros) with its initial coin offering. Notably, it took less than three minutes to collect the above-mentioned sum. The token can be used to gain access to additional features and participate in governance decisions.　　Baldomero Falcones, former chairman of payments behemoth Mastercard, joined Bit2Me as senior advisor in August to work on Bit2Me Card, a debit card for cryptocurrency payments. The hire was part of the companys push to extend its reach beyond Spain.　　Gaining more footing in Europe　　With the Bit2Me listing, Shiba Inu continues to strengthen its presence in Europe.　　Bitstamp, the largest European exchange, announced that it would add Shiba Inu on Dec. 8, but trading was then postponed due to technical difficulties.　　In early November, Coinbase Pro allowed its customers to trade Shiba Inu against the British pound and the euro. It initially listed the coin in October

2021-12-15Deep Dive

Dreaming of an Innovative Wedding? You Can Now Get Married in the Metaverse

Since 2020, much of the global population has gotten used to attending lectures on Zoom, joining work meetings through Google Meets, and catching up with friends by doing video calls. As a result of this, a massive amount of events and wedding ceremonies have been increasingly held through such digital mediums. Now, more than ever before, we are spend more time in the virtual world.　　American couple Traci and Dave Gagnon, who met online, had a post-modern wedding held in Virbelas virtual world. Their avatars were based on their real-life appearances, and the celebration was joined by family and friends in the metaverse itself.　　The wedding depicted reality – friends, as avatars, delivered toasts, and danced in the reception, the venue was decked out in virtual decorations, and everyone was having fun.　　Weddings on the metaverse are an attractive option, as there are no limitations. You can organize a wedding on a deserted island, or in your dream city, without having to fly in any of your guests.　　“If you really want to do something different, in the metaverse you might as well let your creativity go wild,”　　Sandy Hammer, the CEO of Allseated, told The New York Times. Allseated is a wedding (and other

2021-12-14Deep Dive

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