CRYPTO NEWS AGREGATOR
Fri, Nov 12, 2021 5:03 PM by Valte

Weekly Digest: Binance in France & Twitter's Crypto Team

Weekly digest 12 November

Every week we make a digest about the most significant news in crypto with bloggers and crypto community members, but this week we decided to find out what companies’ representatives and media think about all things crypto.

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📌 Cardano’s Ouroboros and EUTXO Solidifies the Network

Cardano’s Ouroboros allows the network to resist the failures of the network that daily processes millions of transactions all over the world. Using Ouroboros consensus mechanism makes Cardano able to catch up with the increasing demand from the users. It also provides solutions for DeFi creation by using Extended Unspent Transaction Output (EUTXO), thus the apps created with this technology provide the best user experience possible. 

📌 Phantom Launches Mobile Version of its Solana Wallet

Phantom, a non-custodial cryptocurrency wallet and browser extension that allows Solana users to perform transactions within DeFi, is planning to release the mobile version of the wallet. The company announced that a private beta version will be released for trying around the holidays and a full-fledged release is planned for January. Using Phantom, users can send, exchange, buy, sell and even create tokens on the Solana network. Recently the project reached 1.2 of active users weekly and it makes sense to provide the option for traders to use the wallet in a more sustainable way. 

“With this launch, we’re giving existing and new users the opportunity to use a solid crypto wallet on-the-go.” — Brandon Millman co-founder and CEO of Phantom 

📌 Binance Lists Ethereum Name Service: Here's All You Need To Know About It

Ethereum Name Service, an open system name service for creating simple, readable and convenient names to replace common wallet addresses recently listed by Binance, opens trading of ENS against BTC/BNB/BUSD/USDT pairs. Deposits are already opened for the users who are willing to trade and the assets withdrawal will open the next day after the listing. New service simplifies the use of the Ethereum network and thus can attract more users to the blockchain, as they will not need to copy, write and send 42-characters long addresses. 

📌 Russian Duma Creates Working Group to Tackle Crypto Mining Regulations

The Russian State Duma organized a working group in order to formulate proper regulations for the cryptocurrency mining industry. According to Andrei Lugovoy, a member of the right-winning Liberal Democratic People’s Party, the deputies have already prepared the draft version of the bill. He also noted that mining of Bitcoin brings around $2 billion a year on which taxes are not paid and can not be requested due to the absence of the proper regulations. The Russian State Duma Chairman Anatoly Aksakov recommended regulating crypto mining under the law regulating entrepreneurial activities 

📌 Twitter Reveals Team That Will Lead Its Decentralization and Crypto Initiatives

Microblogging social network Twitter is moving forward with its digital currencies and blockchain project and has already formed a development team headed by Tess Rinearson that will work on implementing crypto, dApp and NFT on the platform. Rinearson has already worked with projects like Chain.com, Interchain Foundation, Tendermint Core and Cosmos. The team will explore how the platform can satisfy the increasing interest in dApps and the Web3 ecosystem. That’s not the first Twiter’s attempt to adopt crypto, encountering the company’s CEO Jack Dorsey's first tweet as NFT auction and then the offer of more than 140 NFTs and lastly enabling Bitcoin Tips, that allowed users to send tips through the social media platform. 

📌 Binance CEO Announces Head Office Establishment Plans in France

Changpeng Zhao, CEO of Binance crypto exchange informed about the plans to become a crypto service provider in France next year. The platform is interested in entering the French market, especially after investing $160 million in France's decentralized system. This is also part of the company’s reply to the worldwide regulators' counterblasts for a lack of physical presence and registration status. Recently though the company has put extra efforts and finances to maintain the relations with the regulators. 

“France will be a natural choice for a regional, and even perhaps global, head office” — Changpeng Zhao, CEO of Binance

📌 Indonesia’s National Islamic Council Reportedly Declares Bitcoin Haram

According to the chairman of The National Ulema Council, Indonesia’s top Islamic scholarly body cryptocurrencies are uncertain, wagering and harmful and thus they are considered haram by the Islamic religion. To get approval from the MIU digital assets need to follow Shariah guidelines and be defined either as a commodity or a digital asset with explicit benefit opportunities. Though the MIU is not a regulator in Indonesia its statements can affect Muslims and their decision to invest in crypto and also make local institutions reconsider the relation to digital assets. 

Prices

Weekly crypto price changes 12 nov

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The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.

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