• Metropolitan Commercial Bank has pulled out of the cryptocurrency space due to recent developments in the market.
• The move comes amid an intense bear market that has rocked the crypto industry over the past year.
• The bank has predicted that there will be a minimal financial impact on its exit from the cryptocurrency space.

The Metropolitan Commercial Bank has recently decided to part ways with the cryptocurrency space. This comes as a result of a review by the bank’s Board of Directors and the management, due to the recent developments in the crypto sector, the changing regulatory framework over banks engaging in crypto services, and a strategic business case analysis of MCB’s further involvement in the sector.

The crypto industry has been hit hard in the past year as a result of a bear market that has seen the value of cryptocurrencies plummet. This has led to increasing regulatory scrutiny as regulators look to prevent a similar situation as seen with FTX, a crypto firm that collapsed in 2022. Furthermore, this has led to banks being more cautious when it comes to offering crypto services, leading to the Metropolitan Commercial Bank’s decision to pull out.

The bank has predicted that there will be minimal financial impact on its exit from the cryptocurrency space. This is due to the fact that the bank only had four clients in the crypto space, who accounted for a small portion of the firm’s revenue.

In the wake of this news, the cryptocurrency space has seen a decline in its value. This could be due to the increasing regulatory scrutiny, as well as investors‘ concerns about the future of the cryptocurrency market. Additionally, many investors are now hesitant to invest in the sector due to the recent losses incurred by some crypto firms.

Overall, the Metropolitan Commercial Bank’s decision to pull out of the cryptocurrency space shows how volatile the sector can be. Despite the current bear market, the crypto space still has potential for growth in the future. However, investors need to be aware of the risks associated with investing in this sector, and should always do their own research before investing.

• The Financial Markets Authority (AMF) in France has demanded that all non-registered crypto firms should secure licenses.
• The move comes as the financial authority joins the country’s central bank and senate in anticipating new European Union (EU) laws.
• The AMF chair Marie-Anne Barbat Layani has suggested a 2022 agenda proposed by the French Senate, which would mandate all cryptocurrency-related companies to ensure that the regulators recognize and approve their dealings before the new Markets In Crypto-Assets (MiCA) regulation by the EU begins October 1, 2023.

The Financial Markets Authority (AMF) in France has recently declared that all non-registered crypto firms should secure licenses in order to continue operating in the country. This requirement was proposed by the French Senate in their 2022 agenda, and the AMF is now joining the country’s central bank and senate in supporting the agenda.

The chair of the AMF, Marie-Anne Barbat Layani, stated in a press conference that the AMF is supporting the agenda in order to expedite the transition to a structure where all crypto firms see licensing as an obligation. This is in anticipation of the upcoming Markets In Crypto-Assets (MiCA) regulation by the European Union, which is set to begin October 1, 2023.

The AMF is urging crypto firms to ensure that the regulators recognize and approve their dealings before the new MiCA regulation comes into effect. The AMF has also declared that all crypto firms should possess the required licenses in order to continue operating in France.

The new licensing regulations are intended to help protect consumers from potential scams and other financial threats that may arise from the lack of regulation in the cryptocurrency sector. Furthermore, the new licensing regulations are meant to help the industry become more transparent and accountable for its practices.

The AMF is currently working with the French Senate to ensure that the new licensing regulations are adopted in a timely manner. It is also working to ensure that all parties involved are aware of the regulations and their implications.

Overall, the AMF is taking a proactive approach to ensure that the cryptocurrency industry is properly regulated before the MiCA regulation arrives. This will help to create a safer and more secure environment for consumers and businesses alike.

• Chiliz (CHZ) is a sports-oriented cryptocurrency that was popularized during the world cup last year.
• January 6th was an overall bullish day for a majority of the top cryptocurrencies, and Chiliz (CHZ) was one of the biggest crypto gainers today.
• The utility of CHZ is now helping it to increase in terms of price, and it is currently trading in the $0.109 range.

Cryptocurrency is a rapidly growing industry and with the transition into the new year, investors are becoming increasingly bullish on some of the top tokens in the space. January 6th was an overall bullish day for a majority of the top cryptocurrencies, and one of the biggest crypto gainers today was Chiliz (CHZ).

Chiliz is a sports-oriented token which powers the socios.com platform, allowing investors to connect with their favourite sports clubs and players better, by creating stronger relationships. The concept of Chiliz saw great popularity during the World Cup last year, and the utility of the token is now helping it to increase in terms of price again.

At the time of writing, the price of Chiliz (CHZ) is trading in the $0.109 range and is seeing an increase in its overall popularity as more investors are stocking up on the token. It is expected that the token will continue to gain traction in the coming months and its price will continue to increase.

Overall, it is clear that the cryptocurrency industry is experiencing a bullish trend and that tokens like Chiliz (CHZ) are likely to benefit from this. With its strong utility and popularity, it is expected that the token will continue to increase in value in the near future.

• Genesis Global Trading’s CEO Derar Islim has sent a letter to clients asking for more time to resolve the company’s financial crisis.
• This comes after a Twitter altercation between Barry Silbert, the CEO of Genesis‘ parent company Digital Currency Group and Cameron Winklevoss, the co-founder of Gemini, over the situation at Genesis.
• Winklevoss gave Silbert a January 8 deadline to resolve the issue.

The troubled crypto lender and market maker Genesis Global Trading has been facing a financial crisis since the fall of FTX in November. This has led to the halt of withdrawals from the lender, leaving many clients in a difficult situation. In an effort to address this issue, interim CEO Derar Islim has sent a letter to clients asking for more time to resolve the financial crisis.

The letter comes days after a Twitter altercation between Barry Silbert, the CEO of Genesis‘ parent company Digital Currency Group and Cameron Winklevoss, the co-founder of Gemini. Winklevoss criticized Silbert’s handling of the situation, noting that the frozen withdrawals had affected users of their Gemini Earn product. Consequently, Gemini is now facing a lawsuit concerning the halted product.

In the letter sent to clients, Islim expressed his commitment to resolving the issue as quickly as possible. He noted that it was a complex process and would require additional time. Winklevoss had previously stated that Genesis owed the exchange’s Earn product users a total of $900 million. He also gave Silbert an ultimatum of January 8 to resolve the situation. However, despite multiple proposals from Gemini, Genesis failed to acknowledge any of them.

The financial crisis has put a damper on the crypto market, as Genesis is one of the largest crypto lenders in the industry. The situation has attracted the attention of investors, regulators and other stakeholders in the industry. As of now, the future of the lender remains uncertain as the crisis is yet to be resolved.

• According to a report by technology platform Digiconomist, Bitcoin mining consumed more electricity than the entire country of Sweden in 2022.
• Data shows that 93 million transactions on the Bitcoin network last year averaged 1,738 Kilo Watt Hours (KWH) of electricity per transaction, equivalent to powering a U.S. household for two months.
• Bitcoin mining in 2021 emitted up to 969 kilograms of CO2 per transaction, the same as the carbon footprint of a one-way flight from New York to Sydney.

According to a recent report from technology platform Digiconomist, the world’s Bitcoin mining activities consumed a staggering amount of electricity in 2022. In total, the power consumption totaled 161 Terra Watt Hours (TWh), which is more than the entire nation of Sweden consumed in a single year.

The report revealed that there were almost 93 million transactions on the Bitcoin network last year, with each one of them averaging 1,738 Kilo Watt Hours (KWH) of electrical energy. This amount of energy is enough to power an average household in the U.S. for two months. Although the number of transactions is a drop from what was recorded last year, Bitcoin’s share of global electricity consumption incidentally went up to 0.64%.

When it comes to the environmental impact of Bitcoin mining, the report stated that a single transaction in 2021 emitted up to 969 kilograms of CO2. This amount is equivalent to the carbon footprint per passenger of a one-way flight from New York to Sydney. Digiconomist further noted that the total CO2 emissions from Bitcoin mining in 2021 alone negated the entire global net savings from electric vehicles.

This report serves as a reminder of the need to shift away from energy-intensive methods of mining and towards more sustainable solutions. To achieve this, the Bitcoin mining industry must invest in renewable and clean energy sources, and find ways to reduce the amount of energy consumed per transaction.

Ultimately, while Bitcoin mining has the potential to bring tremendous benefits to the financial industry, it will only be possible if miners can find a way to reduce their energy consumption and make the process more efficient.

• Terra Luna Classic (LUNC) has seen a recent surge in price following a bullish announcement from Binance.
• Terra Classic (LUNC) was launched by Terraform Labs in 2019 as a proof-of-stake blockchain and is used to back Terra’s decentralized stablecoins.
• Binance is making changes to the burning of LUNC trading fees in order to contribute to the sustainability of the currency.

Terra Luna Classic (LUNC) has been on an upward trend recently, due to the bullish news coming from Binance. Binance, one of the world’s largest cryptocurrency exchanges, announced changes to the burning of Terra Luna Classic (LUNC) trading fees in order to contribute to the sustainability of the currency.

Terra Classic (LUNC) is a cryptocurrency that was launched by Terraform Labs in 2019. It is a proof-of-stake blockchain and is used to back Terra’s decentralized stablecoins. It is a token that has seen a dramatic drop due to the bear market crisis of 2022.

Binance is making changes to the burning of LUNC trading fees to continue to contribute to the sustainability of the currency. Binance’s official website states that, „Following the recent developments as laid out in Proposal 10983 and Proposal 11111, where LUNC burn is being re-minted as a development fund, Binance will be making changes to the burning of LUNC trading fees, to continue to contribute to the sustainability of the currency.“

It is difficult to predict the exact future of Terra Luna Classic, as there are many factors that can affect its price. However, the bullish news coming from Binance is a positive sign for LUNC and its investors.

As more news comes out on the future of Terra Luna Classic, it will be interesting to see how it will impact the price. Investors should keep an eye on the developments of Terra Luna and be sure to stay informed on the latest news and updates.

Bitcoin (BTC) surpasses $35,000 and becomes one of the world’s ten most capitalised assets
2 minutes of reading Posted by Marine Debelloir. This entry was last updated on January 6, 2021 at 8:34 AM.

Bitcoin (BTC) has been breaking record after record since it broke the $20,000 mark less than three weeks ago. It has just passed the $35,000 mark, and is now among the top 10 of the world’s most capitalised assets.

Bitcoin (BTC) surpasses $35,000 and becomes one of the world’s ten most capitalised assets
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Bitcoin (BTC) rebounds above $35,000

As we explained yesterday, Bitcoin (BTC) had marked the pace once the 30 000 dollar stage had been passed on January 2nd. The next day, it had hit the 35 000 dollar mark, making us fear a prolonged downturn. But the biggest cryptomonnaie managed to get through the barrier less than three days later.

This morning, the price of Bitcoin stood at $35,100, an all-time record. The capitalisation of digital currency now exceeds $652 billion. Over the last 24 hours, this corresponds to an increase of +14%:

Bitcoin BTC price

Source: TradingView, BTC/USDT

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Bitcoin enters the big league
As noted on the AssetDash website, which lists significant assets by market cap, Bitcoin is now in the top 10 of the world’s most capitalised assets. This morning, it even managed to overtake Alibaba Group Holding, which dominated it until a few hours ago. It is preceded by the shares of the biggest heavyweights in their respective sectors, including Apple, Microsoft, Amazon, Alphabet A (Google) and Tesla :

Asset classification by capitalisation Bitcoin BTC

Bitcoin Prime Verification feature

This is another automated feature on the site. The verification is done to confirm that the information entered by the potential account owner is correct. The Bitcoin Prime verification process is also done to ascertain that the account owner is human; it is illegal for bots to trade with Bitcoin Prime.

Source: AssetDash

Cryptography still has a long way to go before it catches up with Google and Amazon, but it could soon overtake Tesla, which has „only“ a capitalisation of 696 billion dollars.

This shows the incredible trajectory of Bitcoin, which has exploded all its records in just over two weeks. The Altcoins are far behind, with the exception of Ether (ETH), which is now in 75th place in the rankings: it has risen nearly 10 places in the space of a few hours. This morning it has a capitalisation of 131 billion dollars. ETH’s share price also seems to be holding above $1,100.

👉 Also to be read: Ethereum (ETH) transaction costs reach an all-time high

The Japanese development company blockchain Crypto Garage announced that it was launching a commercial service on its Settlenet platform for the OTC market for cryptosystems.

According to a Digital Garage website update published on June 8, its company Crypto Garage is launching a commercial service for Settlenet, a settlement system using Blockstream’s Liquid Sidechain.

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Specializing in over-the-counter (OTC) transactions of digital assets for trading companies, cryptoexchanges, asset managers and brokers, Settlenet has been in development since before January 2019, when Crypto Garage obtained regulatory approval from the Financial Services Agency of Japan (FSA) for a demonstration version.

„In this demo, we went beyond proof of concept by using a test environment and were able to solve the problem of simultaneous liquidation of real digital assets and funds in Japanese yen in a side-stream,“ the Digital Garage announcement said. It submitted a report to Japan’s regulators on the one-year pilot program in January 2020.

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How the system works
Blockstream launched Liquid as the first public, production-ready Bitcoin (BTC) side channel in October 2018, enabling the rapid and secure transfer of digital assets between companies. The Liquid Network currently has 45 members, including cryptoexchanges, market makers, brokers, financial operators and others.

Settlenet uses Liquid as part of an agreement that allows exchanges to issue stablecoins with yen pegging and trade against Liquid Bitcoin (L-BTC). The system uses an asset exchange protocol called ‚atomic exchange‘ on the Liquid Network „to allow the simultaneous exchange of assets between the trading parties without handing over control of the blokchain’s assets to a third party“. Digital Garage reports an average transaction time of only two minutes.

Japanese cryptoexchange leads national study on digital payments
The new regulations in the Japanese exchanges
The launch of Settlenet comes at a time when new laws are being implemented to regulate cryptomonies in Japan. On May 1st, updates to the country’s Payment Services Act (PSA) and Financial and Exchange Instruments Act (FIEA) came into effect.