FCA will 'absolutely' consider recent stablecoin depegging when drafting crypto rules: Report

The United Kingdom's Economic and Finance Ministry announced in April that it would work to incorporate stablecoins into a regulatory framework on digital assets. Sarah Pritchard, the executive director of markets at the United Kingdom’s Financial Conduct Authority, or FCA, reportedly said the regulator will look at the recent volatility in the crypto markets when creating rules for the space in 2022.According to a Friday Bloomberg report, Pritchard said the financial regulator will “absolutely” take into account stablecoins like TerraUSD (UST) and Tether (USDT) depegging from the US dollar in drafting regulatory guidelines with Her Majesty's Treasury for release later this year.

WEF 2022: Blockchain and digitization to take center stage at Davos

Sustainability goals for Bitcoin will be presented to world leaders during the first in-person World Economic Forum since the start of the pandemic. The annual meeting of the World Economic Forum (WEF) is scheduled to take place from May 22–26,  marking the first in-person WEF global leadership event since the pandemic began.

More Stress For El Salvador As Bitcoin Dips To $29,000

El Salvador has been on the radar of leading financial and economic institutions since it made Bitcoin a legal tender.

Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic Recovery Won’t Happen Quickly

The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value.

Nouriel Roubini oversees the development of tokenized dollar replacement

Nouriel Roubini is helping develop a tokenized financial instrument aiming to act as an alternative to the US dollar for major investors. Economist and cryptocurrency critic Nouriel Roubini is heading up the development of a tokenized asset to combat fears of rampant economic stagnation and inflation.Roubini has long been a skeptic of the cryptocurrency space, which makes his own foray into the world of digitized financial instruments intriguing.

Credibility Concerns — Gallop Poll Shows Fed Chair’s Confidence Ratings Slid by Double Digits

According to a Gallop poll published on May 2, the public’s confidence in America’s current economic leaders has been deteriorating.

For the crypto industry, supporting sanctions is an opportunity to rebrand

Failure to align with the wider financial services industry by enforcing sanctions against Russia will come at a high cost for the crypto sector. One of the first punitive measures leveled against Russia in response to the military invasion of Ukraine was the implementation of economic sanctions aimed at isolating the country from the international financial system.

Why investors shouldn't expect LUNA-calypse amid macro-economic turbulences

LUNA, the native cryptocurrency of the Terra network, fell by 9% over the last day.

Galaxy Digital CEO Mike Novogratz Says Crypto Markets Have a ‘Backstop’ Amid Stagflation Concerns – Here’s Why

Investment management firm Galaxy Digital CEO Mike Novogratz says that while US markets will continue to dip lower amid economic concerns, the crypto industry has a bulwark that can eventually stop its bleeding.

Peter Schiff Warns Economic Downturn in the US ‘Will Be Much Worse Than the Great Recession’

Following the Federal Reserve’s rate hike on Wednesday, economist Peter Schiff has had a lot to say since the US central bank raised the benchmark rate by half a percentage point.

90% of surveyed central banks are exploring CBDCs — BIS

“Globally, more than two-thirds of central banks consider that they are likely to or might possibly issue a retail CBDC in either the short- or medium-term,” said the BIS. A survey conducted by the Bank for International Settlements, or BIS, suggested that many central banks around the world are looking into rolling out a central bank digital currency, or CBDC.In a paper released on Friday, the BIS Monetary and Economic Department said 90% of 81 central banks surveyed from October to December 2021 were “engaged in some form of CBDC work,” with 26% running pilots on CBDCs and more than 60% doing experiments or proofs-of-concept related to a digital currency.

Bitcoin trader keeps $40.8K BTC price target amid warning over risk asset 'pain trade'

What could rile investors more than a capitulation in stocks and crypto is sideways trading "for a long time." Bitcoin (BTC) consolidated below $40,000 on May 5 after US economic policy excitement saw a  spike to one-week highs.BTC/USD 1-hour candle chart (Bitstamp).

Institutions Trigger Fourth Straight Week of Outflows From Crypto Markets Amid Rate Hike Uncertainty: CoinShares

A leading digital assets manager says institutional investors continue a weeks-long trend of divesting from cryptocurrencies in the face of economic uncertainty.

How blockchain games create entire economies on top of their gameplay: Report

Blockchain technology brings economic building blocks to games and sparks a tsunami of economic activity — inside and outside the games.

Billionaire Paul Tudor Jones Warns of Economic Disaster, Says Hard Not To Be Crypto Bull Currently

Hedge fund billionaire Paul Tudor Jones is warning of a steep financial test in advance of the Federal Reserve’s upcoming rate hike meeting on Wednesday.

Fed ‘will determine the fate of the market’ — 5 things to know in Bitcoin this week

The US central bank will make what is becoming a monthly dictation of what markets do this week with a new rate hike announcement. Bitcoin (BTC) starts a new week with much to make up for after its worst April performance ever.The monthly close placed BTC/USD firmly within its established 2022 trading range, and fears are already that $30,000 or even lower is next.That said, sentiment has improved as May begins, and while crypto broadly remains tied to macro factors, on-chain data is pleasing rather than panicking analysts.With a decision on United States economic policy due on May 4, however, the coming days may be a matter of knee-jerk reactions as markets attempt to align themselves with central bank policy.Cointelegraph takes a look at the these and other factors set to shape Bitcoin price activity this week.Fed back in the spotlightMacro markets are — as is now the standard — on edge this week as another US Federal Reserve meeting looms.As inflation runs rampant worldwide, it is expected that Chair Jerome Powell will make good on his previous pledges and announce key interest rate hikes.Wednesday will be pivotal.

World Economic Forum Shares a Video About Changing Bitcoin’s Code to Proof-of-Stake

According to a World Economic Forum (WEF) tweet, a “change in the way bitcoin is coded could almost eliminate its environmental impact.” That statement stems from a tweet the WEF published on April 26, with an accompanying video that claims “miners could stake their own bitcoins to verify transactions.” WEF on Bitcoin’s Proof-of-Work: A ‘Basic […]

US crypto adoption remains high despite global inflation fears

New DappRadar report provides wide-ranging insights into the performance of the crypto and Web3 space throughout Q1 of 2022. A quantitative analytics report published by DappRadar has unveiled a number of revelatory behavioral market indicators for the global adoption of digital assets.The blockchain data portrays a positive sentiment for the Web3 and metaverse sectors, especially in the United States, a reactionary rise in crypto interest throughout Ukraine and Russia following the outbreak of the conflict, addition to how the well-documented surge of gas prices throughout Europe is impacting inflationary metrics.Bar chart statistics reported a high correlation between unfavorable economic dynamics witnessed in times of currency deflation and the interest in engaging with cryptocurrencies - the data suggesting that the latter could serve as an investment hedge.The tumultuous 217.65% deflation of the Brazilian Real (BRL) against the US dollar over the past decade was reported to be an influencing factor for the 45% of participants who attest to considering purchasing a digital asset within the upcoming year.

Binance blocks crypto accounts of relatives tied to the Russian government

Binance blocked the account of the Kremlin spokesman's daughter when she tried to use the exchange following the economic sanctions imposed upon Russia. Binance cryptocurrency exchange is adopting more measures to prevent the Russian government from mitigating the impact of sanctions through the use of crypto.Binance has shut down several accounts tied to relatives of senior Kremlin officials over the past two months since Russia began military action in Ukraine, Bloomberg reported on Thursday.According to the report, the affected persons included Elizaveta Peskova, the daughter of Russian President Vladimir Putin’s spokesman Dmitry Peskov, and Polina Kovaleva, the stepdaughter of Foreign Minister Sergei Lavrov.

How BTC, ETH, and USDT whales are reacting to Russia's invasion of Ukraine

The economic side-effects of the Russia-Ukraine War impacted not just food and fuel worldwide, but also the performance of stocks across sectors.

Crypto Will Be the Only Place To Hide During Next Economic Shockwave, Says Pantera Capital CEO

Pantera Capital founder and CEO Dan Morehead says that cryptocurrencies may be the only safe asset class investors can turn to during the next economic downturn.

LD Capital Announces the Establishment of LD Research, a Laboratory Dedicated to in-Depth Industry Research and Project Growth

PRESS RELEASE. LD Capital has officially established LD Research which aims to conduct industry focus research, cutting-edge technology exploration, and project economic system design.

Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador

According to a working study published by the US National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus.

How Crypto is Contributing to Environmental sustainability in Africa

Coming out of the COVID pandemic, sub-Saharan Africa is defying the odds with an explosive level of economic growth that has been unseen for decades.

Ray Dalio Issues Stark Economic Warning, Says Global Paradigm Shift Underway – Is Crypto the Answer?

Billionaire investor and hedge fund manager Ray Dalio believes the US dollar and fiat currencies around the world are locked in a spiraling and never-ending state of decline.

Bitcoin Is Struggling to Take Off in El Salvador: Report

The National Bureau of Economic Research concludes that not many people in El Salvador are using Bitcoin, despite a law that compels businesses to accept it.

Binance Launches Refugee Crypto Card for Displaced Ukrainians

Binance said that it has launched the Binance Refugee Crypto Card for Binance users from Ukraine who were forced to move to the European Economic Area countries due to the ongoing war with Russia.

Binance announces crypto card for Ukrainian refugees

The card will allow displaced Ukrainians to send and receive crypto payments and make transactions at retailers located in the European Economic Area. Global crypto exchange Binance has launched a crypto card that allows refugees from Ukraine to make crypto transactions and receive funds through the Binance Visa Card.Binance announced that it’s working with several entities, including European banking-as-a-service platform Contis and nonprofit organizations Rotary and Palianytsia, providing refugees affected by the Ukrainian conflict a way to send and receive funds and make purchases within the European Economic Area (EEA).

Coinbase Unveils Crypto Investment Strategy Amid Shaky Macro Economic Environment

Crypto exchange giant Coinbase is revealing its crypto investment holdings amid times of macro uncertainty.

Quantum computing to run economic models on crypto adoption

The industry may have 10 years or less to devise defenses against quantum computers capable of breaching its elliptic curve cryptography.