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Brazil Committee on Economic Affairs Takes First Measure Toward Regulating Crypto

Mark Brennan
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Brazil Committee on Economic Affairs Takes First Measure Toward Regulating Crypto

Brazil Committee on Economic Affairs (CAE) approved the bill that would regulate crypto.



Bloomberg report Since 2019, a bill to regulate the cryptocurrency market in Brazil was pending. However, this Tuesday, the Economic Affairs Commission discussed the substitutive bill to create rules for cryptocurrencies in Brazil. With 14 senators present, after discussion among senators, parliamentarians unanimously approved the proposal without disagreement. The bill now goes to a vote on the Senate floor, followed by the lower house if approved, before President Jair Bolsonaro can consider signing it into law.

One of the senators said that the project is vital for Brazil, including future generations. If the bill is approved, Brazil will become the biggest Latin American country to regulate cryptocurrencies, reducing the potential for money laundering and risks for investors. Some smaller nations in the region are more advanced, with Cuba issuing rules that recognize and organize their use and El Salvador making Bitcoin legal tender alongside the U.S. dollar.

Senator Irajá commented that the approved bill had the support of the Central Bank of Brazil, CVM, Federal Revenue, and private companies. He said that those responsible for crypto crimes could face 4 to 8 years in prison.

Even after the approval, the bill still has to be evaluated by the entire Senate and needs to get the majority support. The proposed legislation comes as Brazil’s central bank works on a digital version of the Brazilian real. That project aims to promote investments rather than commercial use and is expected to be tested as a pilot in the second half of the year.

DOXED- A New Way to Double-Check Crypto Projects 

Mark Brennan
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DOXED- A New Way to Double-Check Crypto Projects 

There’s a lot of pressure in crypto to be one of the earliest investors to a new project in order to get the highest gains. But there’s also enormous risk. By this point, you can find a wasteland of dead projects, rugged tokens, and broken dreams littering Ethereum and the Binance Smart Chain.  

This kind of problem in the crypto space brings down people’s dreams. But don’t worry, there is always a solution, and the Doxed platform comes to address this uniquely, assisting users and cleaning up the crypto area. 

The main problem with crypto 

An abundance of individuals have been victimized by rug pulls (when liquidity is pulled, rendering a token worthless and untradeable). Websites with team members and bios simply disappeared, along with the money everyone invested.  

Part of the problem that leads to so many scams and con jobs is that the perpetrators of rug face no penalty pull without the accountability of public exposure and reputational investment.  

A vision for a project to push back against the deception came to be called Doxed. Their plan is to verify that the bios alleged to be the team members of a project are legitimate, which they hope will generate income and help clean up the space. 

More about the project  

Dox’s dreams of the Doxed stamp of approval becoming as widely expected as code auditing, and believes that this tool can spare more people from falling victim to rugs. Practicing what they preach. The entire leadership team had to Dox in order to be part of the project. 

In addition to the identity verification service, the Doxed token has a number of interesting features worth mentioning. With every buy and sell, 3% of the transaction will automatically build the liquidity pool. The liquidity is locked for 1 year. With the recent launch and a consolidated market cap of around 1 million, this project has serious potential to grow and is taking the proper steps.  

The initial few days and weeks of a project can involve wild speculation and irrational valuations. There’s no telling whether you’re early or whether the top has already been reached during that initial pump. But by leveraging the features of the contract to stabilize the long-term liquidity, Doxed is giving a chance to thrive without relying on Venture Capitalists. 

Updates on the project development 

To see what else Doxed have to bring on the table you can follow them on their social media and visit their website. 

Discord, Telegram, Facebook, Twitter, Instagram. 

Cardano to Launch Peer-to-Peer (P2P) Lending Network in Africa This Year

Mark Brennan
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Cardano to Launch Peer-to-Peer (P2P) Lending Network in Africa This Year

Charles Hoskinson, the co-founder of Cardano, has disclosed that the popular blockchain project is planning to launch peer-to-peer (P2P) lending in Africa, as part of efforts to bridge the gap between developed and developing nations. 



The project, which will create a “one global economy” instead of two economies that are divided between the haves and the have-nots, will mitigate income and wealth inequalities among nations. 

“Another thing that I think is really cool on the horizon we’re doing this year is that we’re finally able to do peer-to-peer lending into Africa,” Hoskinson was quoted as saying in a 57 minutes video posted on media sharing platform YouTube. 

Hoskinson noted that the initiative, which is slated to be launched in Cardano, Kenya this year, will see billions of dollars flow from developed countries like the United States into developing nations like Kenya and Ghana. 

“If [we] get it done then billions of dollars of value will go from the developed world to the developing world where interest rates are higher,” Hoskinson said. 

The feature will be powered by blockchain technology and users do not need to express fear that the process could be manipulated by any third party, Hoskinson added. 

Commenting on the trustless nature of blockchain, Cardano’s creator noted that the technology has gone beyond being used in payments alone. 

Notably, blockchain has given users the possibility of participating in inclusive accountability, which eliminates the reliance on any third party, as people can conduct transactions among themselves without any form of fear. 

News of the development did not have a heavy impact on the price of Cardano’s native cryptocurrency. ADA, which dipped below $0.83 today, is up 7% as the token is currently trading around $0.88, at the time of writing. 

Meanwhile, despite the price of Cardano not going in investors’ favor, Dan Gambardello, CEO and founder of Crypto Capital Venture (CCV) called the cryptocurrency the biggest sleeping giant that is waiting to explode. 

He further urged enthusiasts to increase their ADA holdings within the $0.80 and $0.50 buy zone or miss out on a lifetime opportunity. 

Experts Views On Current Bitcoin Price Action And Possible Support Zones

Albert Brown
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Experts Views On Current Bitcoin Price Action And Possible Support Zones

With Bitcoin (BTC) plummeting over 7% in the last 24 hours to trade below $37,000, several crypto-related experts have given their views and opinions on what would be the following price action for the world’s largest cryptocurrency by market capitalization. 



ImpulseBull, a crypto analyst who provides daily Bitcoin updates on Twitter, said if Bitcoin should break below the 100 weekly moving average (MA), then there is a tendency for the cryptocurrency to revisit 200 weekly MA in the coming days, thus signaling a significant buying opportunity for investors.

Currently, Bitcoin is holding firm on the 100 weekly moving average that provides support in the area of $37500. Now, 200 weekly MA is present at $21,991, which is far away, and there are many possible supports before that. Till Bitcoin holds 100 weekly MA, there are no signs of major price fall.

 

Ali Martinez, a Bitcoin analyst, took to his Twitter handle to suggest that the cryptocurrency has hit its first level of support of $37,000, as represented by the 200 MA on a 3-day chart. 

However, Martinez is not confident whether the price level will hold for BTC. Should things not go as planned, Martinez said BTC might crash below $34,000, where $33,500 would provide excellent support to BTC. 

 

Similarly, Credible Crypto shares a similar opinion as Martinez. According to Credible Crypto, Bitcoin is currently at a support level of between $34,000 and $32,000, adding: 

“Big picture- weekly support at 32-34k, still don’t think 28k will be breached, will know more in a few days.” 

According to the analysis, the maximum a bitcoin can fall is up to 28K, acting as heavy support for bitcoin. However, the trader is confident that $32-$34 will provide solid support, and it would not be easy for bears to breach this range.

 

Michaël van de Poppe, the CEO and founder of Eight Global said that irrespective of the massive downward trend that occurred in today’s early hours, the cryptocurrency is still in the support zone of $37,000. 

 

2022 BTC Prediction & How It’s Going 

The year has already been filled with several predictions for Bitcoin (BTC) alongside other cryptocurrencies, with several experts making favorable speculation for the asset class. 

One of such predictions came from Bitcoin proponent president Nayib Bukele, El Salvador president, who forecast that Bitcoin will hit $100,000 by year-end earlier this year. 

Fast forward to the second month of 2022, BTC is far from hitting the $100,000 price mark, as several events have made its price fall 45.6% from its all-time high of $69,044. 

The primary scenario that has been a stumbling block to the massive growth of Bitcoin is the heightened tension between Russia and Ukraine. 

Earlier today, after supporting the independence of Eastern Ukraine, Russian President Vladimir Putin disclosed in a speech that there would be bloodshed if military action is not stopped in Kyiv.  

Following his comments, the price of Bitcoin crashed over 7% for the day, as investors flocked to safety, converting their BTC holdings to stable coins.

 

Per data from LookintoBitcoin, the Bitcoin Fear and Greed Index currently scores 20/100, representing extreme fear among traders. 

LaborX Top Crypto Freelance Jobs Platform Exploring Ways To Burn Shiba Inu

Zabi
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LaborX Top Crypto Freelance Jobs Platform Exploring Ways To Burn Shiba Inu

LaborX Might Be Looking To Burn Shiba Inu (SHIB) Tokens, Also launching a giveaway campaign Along With Listing as a Form of Payment Method.



LaborX, the biggest crypto jobs freelance platform, is set to launch a $2000 Giveaway Campaign for the Shiba Inu (SHIB) community.

Following an announcement to list Shiba Inu on its platform as a payment method in the coming week, LaborX recently declared that it would arrange a giveaway campaign for the Shiba Inu community.

The Giveaway Campaign is open for anyone. To take part in the Campaign is simple, i.e., one has to give his best idea on how LaborX’s cooperation with the Shiba Inu token can change the game.

LaborX has mentioned in its tweet that the idea could be a “burn mechanism or user rewards in SHIB for every completed task.”

 

This shows LaborX is not only going to list the Shiba Inu token as a form of payment method but also thinking about contributing towards community-led SHIB burning campaigns.

Today, dozens of ideas have been shared in the comment section by the interested Twitter accounts. The company will reportedly distribute $2000 among five winners ($400 each) with the best ideas. The campaign is said to end on February 28, 2022.

Some ideas shared by the community members:

@danielcapan writes: “Do a YT channel with SHIB content. It will have lots of subscribers and views. With all that profits, buy shibs and burn it”

@Nobel_SHIB writes: “Created a % sent to a funding wallet to help contribute funds to company’s or projects that need funds to produce ads that also have SHIB burning mechanism already built-in. This will help increase their daily burning and grow ideas and project faster.”

@mihnea360 says: “I would give an NFT property in Sibverse for all the freelancers who will accept one year to be paid in one of the Shiba Inu coin ecosystems.”

Suppose an idea to burn the Shiba Inu token via LaborX gets the most likes, and the corporation implements shib burning mechanism, In that case, this will be another success for the Shiba Inu ecosystem as another business would be helping shib burn.

Spotify Looking For A Web3 Developer, What Does That Show?

Mark Brennan
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Spotify Looking For A Web3 Developer, What Does That Show?

Spotify Streaming music service with headquarters in New York and Stockholm is looking for a Web 3.0 Developer.

 



Spotify has posted a job opening for a senior backend developer to drive growth with new technologies such as Web 3.0. Touted as the next evolution of the Internet, Web3 will be heavily based on blockchain technology. Spotify wants to experiment with the Web 3 space, especially when its elements like the metaverse and NFTs are ubiquitous and win billions of dollars from NFT enthusiasts. Currently, Spotify does not associate its branding with any aspect of Web 3.

The company aims to create new opportunities to strengthen connections with young audiences. Applicants must have experience in the research and prototyping of new products. Spotify also posted a job opening for a Senior Innovation and Market Intelligence Manager. The specialist is expected to have “good knowledge about new trends,” particularly about Web 3.0.

The Web3 Developer job description says:

“You will work facilitate collaboration with product, insights, and design to uncover the next growth opportunity leveraging new technologies, like Web3.”

Recall that the QQ Music service owned by Spotify and Tencent announced the launch of an NFT platform in July 2021. Before this, the director of Web 3.0 product management vacancy was posted by YouTube video hosting.

Cardano (ADA) Heavy Buy Zone Approaching Fast

Albert Brown
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Cardano (ADA) Heavy Buy Zone Approaching Fast

Crypto Capital Venture Founder Says He Will Heavily Buy Cardano (ADA) Below $0.80. 



Dan Gambardello, the founder of Crypto Capital Ventures (CCV), has disclosed that he plans on accumulating Cardano (ADA) within the $0.80 and $0.50 price levels. 

The famous Cardano enthusiast made this known in a tweet today that he has been preparing for ADA to hit the price range in the past few months to increase his holding in the seventh-largest cryptocurrency. 

“$0.50 – $0.80 is my heavier Cardano buy zone,” Gambardello tweeted earlier today. According to him, $0.50 to $0.80 is the heavy accumulation zones where the majority of retail and institution investors will come in to buy ADA at low prices.

Gambardello added a clip to the tweet containing an analysis of the ADA coin. He called on Cardano enthusiasts to take advantage of the upcoming $0.80 price of Cardano.

 

According to Gambardello, the most recent call was not about making predictions for the coin. However, the idea is to get Cardano supporters prepared for what is to come for the cryptocurrency to help them create a plan based on those possibilities. 

“This game is not about predicting things. I always say I have no idea what’s going to happen. This is about being ready for every scenario/target (bullish or bearish) and creating your plan based on those possibilities,” Gambardello added. 

ADA Dips Over 15% in 24 Hours

Cardano suffered a significant dip in the last 24 hours following comments from Russian President Vladimir Putin, which saw him declare support for Eastern Ukraine’s independence. 

ADA, which was trading above $1 yesterday, has dipped below $0.83 in the last 24 hours, as the coin suffered more than 15% loss in one day. 

ADA has been down over 20% in the last seven days as investors continue to convert their Cardano holding to stablecoin following the rising tension between Russia and Ukraine. 

Gambardello Bullish at Cardano (ADA)

The recent trading call for Cardano comes less than 24 hours after Gambardello called the cryptocurrency the biggest sleeping giant waiting to explode. 

Gambardello stated in a tweet that ADA would surge tremendously as the adoption of Cardano-related initiatives continues. 

According to Gambardello, who owns a Cardano staking pool, the project’s team led by Charles Hoskinson has designed the network to provide decentralized financial infrastructure on a global scale, which could spark mass adoption. 

Interestingly, the entire Cardano network has been steadily growing in terms of total value lock (TVL) and transaction volume. 

Customers Can Now Pay For Sling TV Subscription’s With Shiba Inu

Zabi
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0
Customers Can Now Pay For Sling TV Subscription’s With Shiba Inu

Sling, an American streaming television service, has recently welcomed Shiba Inu (SHIB) to its platform as a form of payment method.



On February 18 (Friday), Sling made an official announcement via tweet that from now onwards, it is going to accept the crypto payments from Bitpay.

Following this announcement, 2.5 million subscribers of the streaming television service will pay for their Sling subscription with their preferred cryptocurrency.

The company currently added support to the two most popular meme coins, Shiba Inu (SHIB) and Dogecoin (DOGE), along with Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), and Litecoin (LTC).

In addition, 5 USD-pegged stablecoins GUSD, USDC, USDP, DAI, and BUSD will also be used as the payment method on the platform.

The announcement comes after the American company noticed that cryptocurrencies are becoming popular methods among users to make online purchases.

For the company, Bitpay seems to be an attractive option to add. It is one of the largest global blockchain payment providers, currently supporting over 90 different crypto wallet applications, making crypto payments easier than ever.

The company informed that already subscribed users could pay for their monthly subscription via BitPay. However, new users still have to pay with traditional payment methods to activate their accounts. The new users can opt for BitPay once the first month’s subscription expires.

Bitpay added support for Shiba Inu on Dec 9th, 2021; Bitpay made it possible for thousands of businesses to accept Shiba Inu as a payment method.

Author Of ‘Black Swan’ Calls Bitcoin A Perfect Sucker Game, Points BTC Is Not A Hedge Against Inflation Or Stocks

Mark Brennan
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Author Of ‘Black Swan’ Calls Bitcoin A Perfect Sucker Game, Points BTC Is Not A Hedge Against Inflation Or Stocks

Nassim Nicholas Taleb, The Black Swan, and Antifragile author stated that Bitcoin Is a Sucker Game.



Nassim Taleb is a well-known author of financial self-help books and personal guides. He is also seen as a guru by many, but he has gradually become a horrible personality for anyone who is a Bitcoin fan. The Bitcoin critic has again criticized the cryptocurrency, stating that it is not a protection against anything and that, in the end, it is just a game of suckers.

Taleb constantly criticizes Bitcoin at different times; even tiny bitcoin drops are enough for him to start making objections. He took advantage of Bitcoin’s fall in his most recent post comparing BTC with the general financial market, mainly criticizing Bitcoin’s narrative as a hedge against inflation.

“Hannibal ad portas. So it turns out #BTC is not a hedge against inflation, not a hedge ag. oil squeezes, not a hedge ag. Stocks. And, of course, Bitcoin is not a hedge against geopolitical events –actually the exact opposite. A perfect sucker game during low-interest rates.”

The idea behind Taleb’s argument is to attack one of the biggest defenses bitcoin investors have over other digital and financial assets, i.e., Bitcoin being a store of value. In recent years, Bitcoin has gained a reputation as a store of value that inflates as the dollar deflates.

Called by many as the “digital gold,” this has been the main reason for those who intend to invest in Bitcoin in the long term: to protect themselves from a possible global financial collapse.

However, Taleb believes the story is different from what investors think, stating that the asset “proved” that it is not a good hedge against financial movements anywhere in the world in the recent crash.

Taleb vs. Bitcoin is an old fight. It is not now that Bitcoin has been one of Taleb’s primary targets; he is even a little obsessed with always cursing the digital asset; in his most recent review, he even compared Bitcoin to a disease.

“Bitcoin is like a contagious disease. It will spread, and its price will rise to saturation, that is, every sucker stupid enough to buy the story of investing. When all suckers are involved, the predominant belief will make it an ‘obvious’ investment. That’s where the ultimate bitcoin fall will begin.” Said Taleb.

Recently he also compared bitcoin technical analysis to astrology. He points out that BTC technical analyses are like guesses, just like astrology, and both are useless.

Bitcoin continues and will always have its critics, especially when it is in moments of consolidated decline. But only time will tell which side is right.

Shiba Inu Community Wants Instant 90% Token Burn But “It’s Not Possible”

Zabi
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0
Shiba Inu Community Wants Instant 90% Token Burn But “It’s Not Possible”

Shiba Inu (SHIB) Community is getting impatient and wants 90% of the circulating supply to be burned instantly but “this isn’t going to happen”.



Shiba Inu Community wants to become rich overnight, and they are slowly becoming “fed-up” of the slow burns.

Taking notice of the community feedback, Shib Informer a well respected Shibarmy member with 488K  followers, recently updated a tweet saying that this isn’t going to happen soon as all tokens are in the markets (holders & exchanges). He further noted in his tweet that the only way to burn Shiba Inu tokens is “community-led burn initiatives” which are already in process.

He also added that if someone claims to burn the Shiba Inu token, the community should have to ask them for proof.

Shib Informer also has pinned one of the tweets on his Twitter profile explaining that the steady burn is healthy for the Shiba Inu ecosystem as “these burns are giving a particular ‘utility’ to SHIB that will make sense; when the all is in place.”

Besides this, Shiba Inu Community has been able to burn a total of 917,202,013 (917M) SHIB tokens within last week with 71 transactions in place.

Bigger Entertainment and Bricks Buster, the game available to play on the Google Play Store were among the leading burners last week as they both have arranged burn parties on February 14th and 15th, respectively. Bigger Entertainment has reportedly burnt 240 million SHIB tokens. At the same time, the pseudonymous developer of Brick Buster’s game reported that he had burnt 415 million Shiba Inu (SHIB) tokens in his scheduled burn party on 15th February 2022.

Both individual parties have taken out 655 million SHIB tokens in total from circulation forever this week.

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