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12.08.[News of the day] • ETH network congestion temporarily shuts down the crypto casino and other articles

4 min read
Ethereum
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Welcome to today’s overview of crypto news:

MARKETS

The bulls have been doing well on BTC for the past few days after the asset fell below $ 43,000 on Monday. This was in the midst of controversy on the part of the US government, as it failed to agree on specific tax legislation concerning the crypto industry.

However, BTC responded well to this decline and recovered by more than $ 4,000 in the following hours, reaching a peak just below $ 46,800. It traded around $ 45,500 for a while, but bulls have joined the game again in the last 24 hours. As a result, BTC pumped to a new price peak, this time touching $ 46,800. Nevertheless, it failed to continue growing and fell by about $ 2,000 a few hours later.

Altcoins, led by Ethereum, have also been high in recent days. ETH’s performance from London hardware last week was quite impressive. Earlier today, it reached its own new three-month high of less than $ 3,300.

BTC analysis – the price is struggling with resistance, should we expect a short-term decline?

Cryptocurrencies

IMD Crypto Mining Rigs gets a solar upgrade

IMD Companies, Inc. compensates for the cost of its cryptocurrency operations by switching to solar energy.

IMD, a cryptocurrency company, has announced the ecological modernization of its cryptocurrency mining rigs. According to a press release, iMD said it had introduced solar-powered cryptocurrency by upgrading its mining server rigs. The aim is to offset the cost of the huge amount of energy needed to extract cryptocurrencies.

The company stated that it was “reoriented to a holding company for acquisitions and technology development in the financial markets, blockchain markets, cryptocurrencies and NFT (non-fungible token)”.

Paris Saint-Germain FC includes crypto tokens for Messi’s transfer package

According to Reuters, football legend Lionel Messi could receive PSG fan tokens as part of his transfer package from Barcelona FC.

Messi left the Spanish football club and signed a new two-year contract with the French club Paris St Germain. As soon as the first rumors of a possible transfer appeared, the value of PSG tokens rose sharply by more than 74 percent in less than four days.

The token was launched by the club so that fans could participate in the life of their favorite football club by voting using their tokens.

ETH network congestion temporarily shuts down the crypto casino

The congestion of the ETH network forced the online casino to temporarily close down. The development came to light after the official website of KingTiger Casino announced the temporary closure of the company’s services. According to KingTiger:

“We had to temporarily close our casino due to the congestion of the ETH network, which makes it impossible to run our games in the current format.”

Crypto Online Casino is currently looking for new solutions that could host a “new line of features and games” for its entrants. Although casino services have been temporarily suspended, the platform allows users to access their digital wallets.

Parent company Funfair Technologies still allows users to create new wallet accounts, and KingTiger claims that non-owner wallet owners will be able to retain control of their assets.

Banks, crypto exchanges, companies

DBS Vickers has obtained a crypto license in Singapore

DBS Vickers, a brokerage branch of Singapore’s DBS Bank, announced today that it has received prior authorization from the Singapore Monetary Authority to provide digital payment token services in Singapore as a major payment institution under the Payment Services Act.

The announcement by DBS Vickers follows the announcement by the Australian Independent Reserve crypto-exchange and is one of the first financial institutions to be approved by the LAG. Companies are not yet licensed to provide payment services and will subsequently have to put in place measures to meet the LAG’s licensing requirements.

After obtaining the license, DBS Vickers, as a member of the bank’s digital exchange, will be able to directly support asset managers and companies trading in digital payment tokens through the exchange, the DBS announcement states.

The Central Bank of Cambodia and Maybank are cooperating on cross-border digital currency transfers

Malaysia’s Bank Maybank and the National Bank of Cambodia yesterday announced the launch of a real-time funds transfer service between Malaysia and Cambodia – the first international partnership between the bank and Cambodia’s Bakong digital payment system.

The service facilitates funds transfers via NBC’s Bakong e-wallet and Maybank’s MAE application. It allows Maybank clients in Malaysia to transfer up to $ 2,500 per day via the MAE application to recipients in Cambodia via mobile phone numbers registered in Bakong’s Cambodian e-wallet. According to Maybank, a minimum fee will be charged for the service. Transfers of funds from Cambodia to Malaysia will be introduced later.

Bakong is a digital payment system that allows payments, deposits and cash transfers in a tokenized version of Cambodian riels or US dollars.

CBDC, Regulation

The Bank of Ghana, together with Giesecke + Devrient, will pilot the CBDC e-Cedi

The Bank of Ghana has announced a central bank (CBDC) digital currency pilot program with the German securities company Giesecke + Devrient.

According to an official press release, the Bank of Ghana is planning a general-purpose digital currency (CBDC) digital currency pilot program in the country. The bank has entered into a partnership with the German company Giesecke + Devrient (G + D) to use its CBDC solution called Filia.

G + D’s Filia solution “combines the benefits of today’s cash with the needs of users in an increasingly digitized world” and “guarantees excellent security, high availability and resilience, as well as the ability to protect user data while meeting regulatory requirements.”

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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