Tag: crypto industry

Ethereum 2.0 shows signs of increased centralization

Lido, a popular POS platform, has recently overhauled its staking activities by adding more node operators. Although Peercoin first implemented the POS...

Bitcoin halvings: an outlook into the past and future projections

Cryptocurrency miners get rewards with a portion of the currency every time they contribute new entries to the Bitcoin blockchain. This is known as the block reward. Bitcoin halvings remain an integral component of the protocol. They cut the block reward by half every 210,000 blocks. Due to the dynamic character of the Bitcoin blockchain, it is difficult to predict when future halvings will occur precisely.

Challenge of linking crypto to traditional banking

Integrating cryptocurrencies with conventional financial systems becomes increasingly essential as they become more commonplace. This presents several obstacles to overcome before cryptocurrencies can realise their full potential. For instance, traditional institutions may be hesitant to work with cryptocurrencies due to concerns about money laundering and other illicit activities. Moreover, the technical difficulty of integrating cryptocurrencies with existing banking systems can prove intimidating.

Robinhood to delist ADA, SOL, and MATIC amid SEC crackdowns on Coinbase and Binance

The SEC named ADA, SOL, and MATIC in lawsuits filed against Coinbase and Binance. The SEC referred to the three crypto-assets targeted for delisting from Robinhood as unregistered securities in the lawsuits. The lawsuits are part of a broader SEC endeavour to regulate the crypto industry.

Crypto wash trading and the need for comprehensive regulation

Wash trading is a form of illicit market manipulation where an entity buys and sells the same financial asset to create a false impression of market activity. This practice gained traction with the rise of electronic trading in the early 2010s, as algorithmic trading programs began churning trades at unprecedented speeds. This old illegal financial market trick has unfortunately found its way into the crypto industry.

The EU Council approves the world first comprehensive crypto regulations

According to the IMF, about 20% of Africa has explicitly banned the use of cryptocurrency. On 16 May, finance ministers of the EU...

Crypto state and regulations of Angola

Jose de Lima Massano, the governor of the National Bank of Angola(BNA), saw the vast potential of Africa's crypto industry. Around 2018, during...

Crypto Industry in 2023: hope from the first quarter after 2022 Struggles

The price increase is due to the selling exhaustion of sellers FTX’s collapse, an improving macroeconomic outlook for risk assets, and the impending arrival...

Crypto self-regulation key for sustaining industry’s development

African policymakers have remained apprehensive that people could use cryptocurrencies to illegally transfer funds from the region and sidestep local rules to avert capital outflows. Widespread crypto usage could also create risks for financial and macroeconomic stability by undermining the effectiveness of the monetary policy. The risks become even greater if countries adopt crypto as legal tender. Many people feel that if governments accept and hold crypto assets as means of payment, it could put public finances at risk. Until the time comes that African governments evolve a suitable regulatory response to the rise of web3 and blockchains, crypto self-regulation will help to shield customers against fraudulent elements within the ecosystem.

The perpetrator of OneCoin Pyramid Scheme resurfaces

The Direct Selling Association in Norway was the first to identify the true nature of this organization as a pyramid scheme. A plush...

How to start an African crypto exchange platform

Finding a popular payment provider will significantly boost your odds of gathering crypto traders. Securing your processes and different technical aspects of your...

Has the 2022 crypto bear market ended

Given these actions, one cannot rule out that global authorities are preparing to confront the industry through legal and regulatory means. And if some of these companies lose their battles with the securities regulator, this could negatively affect cryptocurrency prices. As such, no one should be cracking open the Champagne just yet. Yes, prices have recovered to some extent in the past few weeks, but with the global economy still mostly slowing down its decline rather than showing real strength, it would be just too premature to conclude that the 2022 crypto bear market has ended.

Recovery is in sight for the crypto industry in 2023

Of course, one of the exciting (if not frustrating) things about crypto remains its unpredictable nature. The foregoing provides a general overview of the crypto industry in 2023 (based on current trends). Nevertheless, it is almost certain that 2023 will also throw up more than a few surprises.

The place of crypto in 2023

The trend toward regulation and transparency of crypto in 2023 will gain traction. Consequently, more enterprises in the industry will grow emboldened and begin to interact with crypto to offer services to their customers. Despite recent developments in the crypto industry, it remains a significant area of interest. Customers are continually looking for methods to engage in the possibilities of a decentralized, low-cost, globally accessible banking system. They will, however, want to do so as securely as possible, with the comfort provided by professional guidance, rock-solid custodian services, and organizations with a strong history of governance and thorough third-party audit. Crypto became cautious in late 2022 and will aim to get serious in 2023. People should expect to see more suits and fewer surf and skater clothing at events and conferences where the crypto community meets.

African Crypto Market and Its Growth Potential

While African governments do not yet regulate cryptocurrency, this may change. For example, Africans may turn to cryptocurrency as a means of payment if...