Top Crypto Stories Of The Week

Hello and welcome to our weekly recap covering the top crypto stories from last week.

Russia Wants To Legalize Crypto Mining ‘as soon as possible’

Russia’s Deputy Minister of Energy Evgeny Grabchak is calling for the legal restrictions on the country’s crypto industry to be lifted following the recent moves by Russian officials to support cryptocurrencies. Read More.

Mastercard and BTC Markets Enter Into Partnership To Aid Crypto Payment

Australia-based crypto exchange BTC Markets is collaborating with global payment service Mastercard to allow customers to purchase crypto assets from its platform using credit cards. Read More.

Washington State Passes New Blockchain Law

The state of Washington has announced the approval of a new bill on blockchain technology. The provisioning from this legislation will help to facilitate Washington state’s rising adoption of Web3 innovation. Read More.

Bitcoin Network Challenges Surges to an All-Time High As Miners Pursue 2M BTC

Bitcoin’s hash rate has maintained a citadel across the year as it surges to a  new all-time high for BTC network complexity.

This comes just in time when the Bitcoin (BTC) miners provided aid to release the 19th millionth BTC in circulation on Friday, now the BTC network’s mining difficulty retaliated by reaching an all-time high of 28.587 trillion. Read More.

SEC Turns Down Ark’s Bitcoin Spot ETF Application

The U.S. Securities and Exchange Commission (SEC) has rejected a Bitcoin spot ETF put forward last year by Ark 21 shares.

The SEC rejected Ark 21 shares’ ETF scheme during a regulatory filing which was announced on its website on Mar. 31. Read More.

Hackers Extort Millions From Ethereum DeFi Protocol – Inverse Finance

An Ethereum Defi protocol – Inverse Finance was hacked in the early hours of Saturday. According to reports, the hacker has already stolen over $14.6 million through Tornado Cash. Read More.

Oklahoma Offering Tax Breaks For Crypto Miners

Legislators in Oklahoma are pushing to introduce tax relief for bitcoin and crypto currency miners who chose to operate in the State.

The bill, which is tagged the Commercial Digital Asset Mining Act 2022, was initiated by Senator John Montgomery and state representative Ryan Martinez. It strives to cut down the hardware and electricity fees that commercial miners will be required to pay. Read More.

Bored Ape Yacht Club Discord Hacked as Dozens of NFTs gets Stolen in a Week

Bored Ape Yacht Club made reports yesterday via their social handles that their official Discord server has been hacked. The popular NFT club also warns that no one should mint anything from the hijacked server until it is retrieved. Read More.

Bitcoin breaks 45k Resistance as Market hints Q2 Bull Run

Bitcoin rises as high as $47,583 well above the $35,000-$45,000 region band where it has been stuck in consolidation since January.

The world’s largest flagship crypto asset has been trapped in a tight boundary range in recent months – as the Federal Reserve and other central banks took off some of the stimulus measures they put in place in response to the pandemic plunge. Read More.

India Reprimands 11 Crypto Exchanges Accused Of Evading Tax

India’s tax authority is going after 11 crypto exchanges that have been found to evade taxes.

As part of the disciplinary measures, the tax regulator has confiscated Rs. 95.86 crore or around $12.6 million from the erring exchanges. Read More.

SHIBA INU Soars as New details about the SHIB Metaverse emerges

The SHIBA community is ecstatic as new details about SHIB Inu’s Metaverse emerge – the SHIBverse virtual world project will consist of 100,000 plots of land.  

According to the announcement, a total of 36,431 plots are going to be available to buy in the “introductory phase” of SHIB: The Metaverse — spread across four different districts. Read more.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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