English

NewsBriefs - Mastercard launches Crypto Credential service for secure blockchain transactions

Editor-curated news, summarized by AI

  • Crypto Briefing

    Mastercard launches Crypto Credential service for secure blockchain transactions

    Mastercard has introduced the Mastercard Crypto Credential, enabling users of crypto exchanges to conduct transactions using aliases instead of complex wallet addresses. This new feature enhances security by verifying wallet compatibility, preventing the loss of funds due to incompatible asset or blockchain support. Initially available in Latin America and Europe through exchanges like Bit2Me, Lirium, and Mercado Bitcoin, the service is expanding, with new partners like Brazilian exchange Foxbit. The Crypto Credential also facilitates compliance by supporting the exchange of Travel Rule information required for cross-border transactions, thereby promoting transparency and preventing illicit activities.

    Crypto Briefing

    • Latest

    • The Block

      US crypto czar David Sacks calls Bitcoin an 'excellent store of value'

      David Sacks, appointed by Donald Trump as the US crypto czar, praised bitcoin as an excellent store of value during a CNBC interview. He emphasized bitcoin's robust security and longevity, underscoring its status as the first and most prominent crypto. In a broader scope, the Trump administration is exploring a potential bitcoin reserve and aims to provide a clearer regulatory framework for crypto within the US. These steps are part of efforts to foster domestic innovation and potentially enhance the US dollar's dominance through digital currencies.

      Expand
      The Block

    • Eleanor Terrett

      CFTC announces enforcement division restructuring to enhance fairness and prevent overreach

      The Commodity Futures Trading Commission (CFTC) is set to announce a restructuring of its enforcement division to halt the practice known as regulation by enforcement and to better allocate agency resources. The restructuring involves the creation of two new task forces: the Complex Fraud Task Force, managed by Deputy Director Paul Hayeck, focusing on complex fraud and manipulation across all asset classes, and the Retail Fraud and General Enforcement Task Force, led by Deputy Director Charles Marvine, targeting retail fraud and general compliance issues under the Commodity Exchange Act. This initiative aims to improve market integrity, prevent fraud, ensure consistency, enhance fairness, and provide due process.

      Expand
      Eleanor Terrett

    • Decrypt

      El Salvador expands its Bitcoin reserve by purchasing an additional 11 BTC

      El Salvador has acquired an additional 11 Bitcoin tokens, worth approximately $1.1 million, to expand its crypto holdings to 6,067 BTC. This follows their recent agreement with the IMF, necessitating some regulatory adjustments on Bitcoin use. Despite these adjustments, El Salvador remains committed to using Bitcoin as voluntary legal tender and continues to grow its crypto reserve. The country's total Bitcoin holdings are now valued at around $600 million.

      Expand
      Decrypt

    • The Block

      US Ethereum ETFs hit record $1.5 billion trading amid Trump's new tariffs

      US spot Ethereum ETFs achieved a record $1.5 billion in trading volume on February 3, demonstrating a 23% increase from their previous high, coinciding with a significant drop in crypto prices following President Trump's tariff announcements. BlackRock, Grayscale, and Fidelity led the trading volumes. Despite a downturn in crypto prices, US Ethereum ETFs observed net inflows of $83.6 million, the highest since January 16.

      Expand
      The Block

    • The Block

      Ethereum raises gas limit above 31 million to enhance scalability

      Ethereum's network gas limit has been raised above the 31 million mark, marking the first adjustment under its proof-of-stake system. More than 50% of the validators approved this change, which aims to improve network scalability as transaction demands increase. This adjustment, which did not require a hard fork, reflects ongoing efforts to manage growing demands on Ethereum's decentralized applications.

      Expand
      The Block

    • The Block

      World Liberty Financial shifts major ETH and WBTC assets to Coinbase

      World Liberty Financial, a Trump-backed decentralized finance protocol, has transferred the majority of its crypto assets, including substantial amounts of Ether (ETH) and Wrapped Bitcoin (WBTC), to Coinbase. This movement involves initial test transactions and subsequent larger transfers primarily to Coinbase Prime and hot wallets. The movement of these assets, particularly ETH, which constituted their largest treasury asset, aligns with typical pre-sale exchange transfers. Additionally, the protocol is receiving small amounts of ETH in numerous transactions from newly created or inactive addresses.

      Expand
      The Block

    • The Block

      Treasury Secretary Scott Bessent appointed as acting CFPB chair

      Scott Bessent, the recently confirmed US Treasury Secretary, has been appointed as the acting chair of the Consumer Financial Protection Bureau (CFPB) by President Donald Trump. Bessent, known for his positive stance on crypto, will lead the CFPB as it continues to develop rules that may impact the crypto industry, including efforts to curb crypto fraud. This appointment follows the dismissal of former CFPB Chair Rohit Chopra and occurs amid discussions on the role of the CFPB under Trump's administration.

      Expand
      The Block

    • Cointelegraph

      Wintermute CEO attributes recent $2 billion crypto crash to external TradFi events

      Wintermute CEO Evgeny Gaevoy stated that recent crypto market crashes, including a significant $2.24 billion liquidation, were triggered by external traditional finance events, such as new tariffs imposed by US President Donald Trump. This contradicts common suspicions within the crypto community about market makers manipulating the market for personal gain. Gaevoy emphasized the connection between global economic actions and the crypto market dynamics, urging traders to consider these broader impacts.

      Expand
      Cointelegraph

    • Kraken

      Kraken obtains EU MiFID license to launch regulated derivatives for crypto traders

      Kraken has acquired a Markets in Financial Instruments Directive (MiFID) license through the purchase of a Cypriot Investment Firm, approved by the Cyprus Securities and Exchange Commission (CySEC). This license allows Kraken to offer fully compliant and regulated derivatives products to advanced crypto traders in selected EU markets, as part of its European expansion strategy. The products will provide these traders with the opportunity to work with a variety of collateral currencies and asset types, enhancing trading flexibility and efficiency.

      Expand
      Kraken

    • TASS

      Russia to mandate registration for all crypto mining equipment

      Russia's Ministry of Energy plans to establish a mandatory registry for all crypto mining equipment to control mining activities, particularly in areas where mining is banned. This initiative, aimed at identifying illegal operations, will make unregistered mining infeasible. Furthermore, the Federal Tax Service now enables miners to report crypto earnings online, aligning with recent taxation frameworks.

      Expand
      TASS

    • Bitcoin Sistemi

      India reevaluates its cryptocurrency policy amid changing global trends

      India is reevaluating its cryptocurrency stance as global trends towards digital assets become more favorable. Economic Affairs Secretary Ajay Seth mentioned this could delay a previously scheduled cryptocurrency discussion paper. This shift in scrutiny aligns with recent regulatory changes in other countries, including the US, influencing India to take a fresh look at its crypto regulations.

      Expand

    • The Block

      THORChain to issue TCY tokens in bid to address $200 million debt

      THORChain's governance has approved a strategy to convert approximately $200 million of unserviceable debt into 200 million equity tokens named Thorchain Yield (TCY). Each TCY token, promising stakeholders 10% of the network's perpetual revenue, will be issued in response to the defaulted debt in THORChain's suspended Savers and Lending program. The restructuring includes creating a RUNE/TCY liquidity pool to support token distribution.

      Expand
      The Block

    • The Block

      Bitcoin mempool clears as transaction volume drops to an 11-month low

      Bitcoin network activity has significantly decreased, with transaction counts hitting an 11-month low and a corresponding decline in mempool backlog, leading to several unfilled mining blocks. The drop in transactions began three months ago and has resulted in a decrease of over 43% from the network's peak activity. This reduction in activity has also seen transaction fees reach near-record lows. As a result, the profitability of Bitcoin mining is being challenged, prompting diversification into other computing sectors by major mining firms.

      Expand
      The Block

    • The Block

      MicroStrategy raises $563.4 million for Bitcoin acquisition through preferred stock sale

      MicroStrategy sold 7.3 million shares of 8% Series A perpetual strike preferred stock to raise $563.4 million, which the company plans to use for acquiring more Bitcoin. This offering significantly exceeded the initial aim of selling 2.5 million shares. The company already holds a substantial amount of Bitcoin valued at over $46 billion and plans to continue expanding its crypto assets. Perpetual preferred stock provides fixed dividends indefinitely and can be converted into common shares, adding flexibility for investors.

      Expand
      The Block

    • The Block

      Uniswap Labs rolls out v4, introducing developer-focused upgrades and lower gas fees

      Uniswap Labs has launched version 4 of the Uniswap protocol across several blockchain networks including Ethereum and Arbitrum. Uniswap v4 introduces new developer capabilities through the use of 'hooks' and aims to improve capital efficiency and user experience with a new 'singleton' liquidity architecture. The protocol transition into a developer platform includes enhanced features for liquidity providers and optimized swap routing across existing and new version pools. Uniswap v4 has successfully completed extensive security testing, including nine audits and a $15.5 million bug bounty program.

      Expand
      The Block