Nigerian crypto adoption rises despite govt crackdown

Nigerian cryptocurrency adoption continues to rise in spite of government crackdown, with peer-to-peer (P2P) trade volume for Bitcoin posting its second strongest week on record last month. According to data from Google Trends, Nigeria still ranks number by search interest for the keyword “Bitcoin” as of this writing. P2P Bitcoin trading denominated in the Nigerian Naira has also steadily increased in 2021, with Nigeria ranking behind only the United States as the second-largest market for peer-to-peer BTC trading, according to Useful Tulips. The growing Bitcoin adoption in Nigeria has helped…

PayPal reportedly assembling crypto team in Ireland as Bitcoin adoption grows

Global payments provider PayPal is in the process of recruiting for several cryptocurrency-related positions at its Ireland offices, further highlighting the company’s ambitions in the rapidly growing digital asset market.  The Dublin-based Irish Independent, one of the country’s most popular news outlets, reported Sunday that PayPal is looking to fill various crypto-focused roles in compliance, anti-money laundering and business development for its Dublin and Dundalk offices. Related: PayPal set to launch crypto trading in the UK and may embrace DeFi PayPal launched a dedicated crypto and blockchain business unit earlier…

BlockFi faces regulatory heat, a sign of possible crypto lending regulations?

BlockFi’s eventful 2021 has continued in the second half of the year as state regulators in the United States began to crack down on the company’s crypto interest-bearing accounts. The move likely marks another operational headache for the non-bank lender in a year of substantial fundraises and public listing plans interspaced by controversy and technical blunders. State regulators going after crypto interest-bearing accounts may also stand as a bellwether of possible federal regulations targeted at the cryptocurrency loan market. Indeed, such a scenario might be possible given the current focus…

German law allowing institutional funds to hold crypto comes into effect Aug. 2

Beginning on August 2, 2021, German institutional funds will be able to hold up to 20% of their assets in cryptocurrencies, possibly setting the stage for wider mainstream acceptance of Bitcoin (BTC) and other crypto assets by the nation’s pension funds.  As Bloomberg reports, the new law alters fixed investment rules governing Spezialfonds, also known as special funds, which are only accessible to institutional investors such as pension funds and insurers. Spezialfonds currently manage about $2.1 trillion, or 1.8 trillion euros, worth of assets. Related: Hedge funds see the crypto…

Do crypto ATMs make buying BTC easier for the mainstream?

Cash may be king when it comes to purchasing Bitcoin (BTC), as recent data states that there has been a spike in crypto ATM installations during 2021, showing a 71.3% increase from Jan. 1, 2021, until the time of reporting. Specifically speaking, there are currently over 24,000 crypto ATMs located across the globe. Data further suggests that crypto ATMs are being installed at a rate of about 52.3 machines per day.  While growth is clearly underway for the cryptocurrency sector, the reason behind the surge in crypto ATMs may be due…

5 easy ways crypto investors can make money without needing to trade

Large price jumps and 100x gains get a lot of attention from pundits and influencers in the cryptocurrency community because they offer the hope of overnight riches. In reality, these opportunities are few and far between. Not to mention, only a handful of traders actually manage to catch these waves and cash out in time to lock in life-changing money.  Fortunately, catching a large price surge is far from being the only way for crypto investors to make a buck, and the recent rise of decentralized finance (DeFi), nonfungible tokens…

NFTs can be a good pathway to draw women into crypto, says Lavinia Osbourne

Women looking for a way to enter a male-dominated space like crypto and blockchain may be drawn in by nonfungible tokens, according to Women in Blockchain Talks founder and host Lavinia Osbourne.  Though the ongoing pandemic has left people in many countries in financial trouble — whether by losing their jobs, being unable to physically go to banks, or other concerns — Osbourne told Cointelegraph the event may have pushed many women into crypto and blockchain once they were forced to move on from other careers. She said the recent…

Who takes gold in the crypto and blockchain Olympics? – Cointelegraph Magazine

Every four years (usually), the world comes together in a celebration of sport and competition at the Olympic Games. In the spirit of Tokyo 2020, let’s look at countries that are deserving of gold medals across different spheres of the cryptocurrency and blockchain space. The variety of sports featured at the Olympics have changed over the years, and the current summer Olympics in Japan features a total of 33 different sports. Exciting competitions like skateboarding and surfing were added for Japan as the global showpiece continues to evolve and adopt…

A trade war misstep? China is vacating crypto battlefield to US banks

At the same time that China has declared war on cryptocurrencies, giant American banks appear to be embracing crypto — evident the final week of July with the news that crypto firm Lukka will provide State Street Bank’s private fund’s clients with digital and crypto asset fund administration services. This follows forays into the crypto space from the likes of BNY Mellon, JPMorgan, Citigroup and Goldman Sachs among traditional bank heavyweights. Is it too early to speak of trend and counter-trend? And if a trade war has broken out between…

Binance to shut down crypto derivatives trading in Europe

Troubled global cryptocurrency exchange Binance continues moving fast in curbing services to respond to the ongoing regulatory scrutiny worldwide, partly shutting down derivatives trading. Binance officially announced Friday that it would suspend its derivatives trading across the European region, starting with Germany, Italy and the Netherlands. The company clarified that users in mentioned countries cannot open new futures accounts on Binance effective immediately. We’re continually evaluating our products and working with our partners to meet our users’ needs. Today we’re announcing that we plan to wind down our derivatives products…