Crypto Exposure by Pension Plans: Canada Proposes Declaration

• The Canadian federal government has proposed a budget for the year 2023 that would require federally regulated pension plans to report their exposure to crypto-assets to OSFI.
• This is meant to help protect Canadians’ retirements and address consumer protection gaps and threats to the financial system.
• Provinces and territories will collaborate with the federal government in order to ensure that pension plan holders are informed of their investment in cryptocurrencies.

Canadian Federal Government’s Proposed Budget

The Canadian federal government has proposed a budget for the year 2023 which would compel federally regulated pension plans to reveal their exposure to crypto-assets, such as Bitcoin, Ethereum, and other digital currencies, to the Office of the Superintendent of Financial Institutions (OSFI). The aim behind this move is to help protect Canadians’ retirement savings and address consumer protection gaps and threats posed by crypto-assets.

Collaboration with Provinces & Territories

In order for Canadians to be informed of any potential investments they may have in cryptocurrencies, the federal government will collaborate with provinces and territories across Canada. This collaboration will ensure that all pension plan holders are aware of their investments in crypto-assets.

High Profile Bankruptcies & Losses

The decision comes after numerous high-profile bankruptcies revealed the significant volatility investors confront when dealing with cryptocurrency assets. Examples include FTX exchange, Silvergate Bank and Signature Bank who all suffered financial losses due to investing in digital assets. Additionally, Caisse de Depot et Placement du Québec reported losing US$150 million on a stake in Celsius Network while Ontario Teachers’ Pension Plan reported writing down its entire US$95 million stake in FTX.

Protecting Consumers from Risks

In light of these occurrences, there is an urgent need for various tiers of government across Canada to actively work together towards protecting consumers from risks associated with digital currency investments. By requiring federally regulated pension plans declare their exposure or related activity involving crypto-assets, consumers can make better decisions regarding where they choose invest their money.

Conclusion

The proposed 2023 budget aims at helping protect Canadians’ retirements by making sure they are aware of any potential investments they may have in cryptocurrencies through their pension plans by requiring federally regulated pensions plans declare their exposure or related activity involving these assets.

Remittances Play Crucial Role in Consumers’ Financial Planning: Global Money Transfer Index

Overview

• The Global Money Transfer Index, a survey of 30,600 consumers in 20 countries across the Middle East, Africa and Asia Pacific, was launched by Western Union to voice consumers’ international money transfer preferences.
• 64% of money transfer consumers send and/or receive money once a month or more and 75% expect these remittances to increase over the next 12 months.
• Remittances play an important role in current and future financial planning; family support is identified as the primary purpose for remitting, but transfers also play a strong role in paying for education costs, supporting business interests at home and saving for the future.

Family Support

The Global Money Transfer Index reveals that family support is identified as the main purpose for remitting. 79% of receiving consumers must ask for more money due to higher global cost of living and 71% of senders agree they are transferring more than previously to meet these needs.

Future Financial Planning

Remittances not only help families with their immediate needs but also play an important role in future financial planning. Paying for education costs ranks second highest as a reason why people remit money, while supporting business interests at home and saving for the future are also cited by consumers as reasons they use international money transfer capabilities today.

Post-Pandemic Recovery

Jean Claude Farah, President of Middle East and Asia Pacific at Western Union states that although economies have gone into post-pandemic recovery, macroeconomic conditions have made people’s daily lives more challenging. This increases the importance of remittances which remain resilient due to their purpose.

Western Union’s ‘Evolve 25’ Strategy

The findings from the Global Money Transfer Index endorse Western Union’s ‘Evolve 25’ strategy which combines high-value, accessible retail and digital financial services for all customers around the world.

Binance Moves Zero-Fee BTC Trading From BUSD To TUSD

• Binance, the world’s largest crypto exchange by trading volume, is moving its zero-fee BTC trading pairs from Binance USD (BUSD) to TrueUSD (TUSD) on March 22.
• The company removed fees for 13 BUSD spot trading pairs in July 2022 and this move excludes its pair with other assets such as BNB and Ethereum.
• Additionally, Binance would halt deposit and withdrawal services via bank transfers and card payments for UK customers from May 22.

Binance Moves Zero Fee Bitcoin Trading to TUSD

Binance, the world’s largest crypto exchange by trading volume, announced today that it is moving its zero-fee BTC trading pairs from Binance USD (BUSD) to TrueUSD (TUSD) on March 22. This move excludes its pair with other assets such as BNB and Ethereum.

Zero Fee Trading Program

In July 2022, in honor of its fifth anniversary, Binance removed fees for 13 BUSD spot trading pairs in order to provide the market with competitive fees. Crypto investors used to trade fiat currencies such as Euro, Australian Dollar, and other currencies against BTC using Tether (USDC), Circle’s USD Coin (USDC), among others. With this move of BUSD to TUSD, there will be “no maker or taker fee” for BTC/TUSD spot trading pairs.

Impact On Market & Services

The news has had a positive impact on the market with native token BNB price surging about 7.7% in a week following CZ’s announcement on Twitter. Furthermore, UK customers will not be able to use deposit or withdrawal services via bank transfers or card payments starting May 22nd.

Conclusion

This decision showcases how serious the company is when it comes to giving traders competitive rates without compromising quality service or security features of their platform. It is expected that this move would further increase liquidity across different asset classes traded on their platform while providing low trade costs for investors around the world.

Author Bio

Sarala is a journalism graduate passionate about writing who loves dancing and travelling while exploring blockchain technology

Vitalik Buterin Swaps Gifted Altcoins for ETH Profits

• Vitalik Buterin has converted over $700,000 worth of various altcoins into ETH.
• He also sent EthDev 214 ETH, valued at over $337,000.
• Negative Effect on Low-value Projects due to sale of shitcoins.

Vitalik Buterin Swaps Gifted Altcoins by New Projects Into ETH

Vitalik Buterin, the co-founder of the world’s second-largest blockchain Ethereum, has recently swapped souvenirs in form of altcoins that he was gifted for new projects into Ethereum (ETH) tokens. On-chain data portal Lookonchain reports that Vitalik Buterin has converted over $700,000 worth of various altcoins into ETH.

Swapping Altcoins For Profits

Buterin made a profit from the sale of 50 billion MOPS coins and 58 ETH from the sale of 10 billion CULT coins and 380 ETH from the sale of 500 trillion SHIK coins respectively. He also made a 5.9 ETH profit on the sale of 3.4M BITE tokens. Moreover, he sent EthDev around 214 ETH which is valued at over $337,000 USDT equivalent value as per current market rate.

Negative Impact On Low-Value Projects

However this decision to sell his altcoin holdings didn’t quite please many crypto Twitter community members as it had negative implications on low-value projects and those investors who funded them with their hard earned money. There were widespread complaints that Vitalik was receiving free tokens from several projects and once he sold his SHIK coin holdings the price dropped 95%.

Goerli Testnet Tokens

There are now 11.88 million GETH in circulation with 2k token holders according to DEXTools statistics indicating 24 hour trading volume around half million dollars i.e 0 .5 million dollars approximately . Further Etherscan stats indicate that Vitalik still holds additional 666 SHIK and 10 billion CULT coins with him . However all his MOPS coins have been sold off already . The Shanghai Upgrade will be affecting prices in near future however recent unloading may or may not even have any connections whatsoever .

Conclusion

Overall it can be seen that although Vitalik Buterin’s decision to sell shitcoins might have negative effects on low value projects , yet he understands well that selling free shitcoins may have devastating effects on markets as well . It remains clear whether recent unloading is connected to upcoming Shanghai upgrade or not but one thing remains true — That is , Vitalik’s decision will most certainly affect crypto markets significantly in coming future days or weeks ahead..

Unity Upholds Web3 Toolbox: MetaMask Now Supported on Game Platform

• Unity, one of the most popular game development engines, has added a “decentralization” category to its asset store.
• This virtual toolbox includes 13 verified blockchain-based SDKs from different chains and goods.
• The launch of the MetaMask SDK in the Unity Asset Store will allow developers to connect their games to the wallet and enable users to interact with web3-enabled features within the game itself.

Unity Upholds Web3 Toolbox for MetaMask

Unity, one of the most popular game development engines for creating 3D game environments, has added a “decentralization” category to its asset store. On the website, there are 13 various verified solutions that Unity claims to have authorized for developer use.

Tools Included in Virtual Toolbox

The virtual toolbox includes Algorand, Aptos Labs, Dapper Labs, ImmutableX, Solana, Tezos, and ConsenSys products Infura and MetaMask. It also comes with other publicly visible companies’ tools with reliable features and support that are constantly maintained by their developers.

MetaMask SDK Now Live on Unity Asset Store

The launch of the MetaMask SDK in the Unity Asset Store will allow developers to connect their games to the wallet and enable users to interact with web3-enabled features within the game itself. This will help developers integrate blockchain technologies like non-fungible tokens (NFTs) into gaming experiences using the decentralization storefront in the Unity Asset Store.

Unity Promises Reliable Blockchain Solutions

Unity seeks to provide game developers with reliable tools needed to connect with Web3 gaming which is a growing cryptocurrency market. To ensure reliability for users it only certifies Web3 tools that it considers legitimate, dependable and developing.

Final Thoughts

With this new feature on its asset store Unity is helping developers tap into Web3 gaming as well as bringing more innovative gaming experiences through blockchain technology integrations into existing projects.

Satoshi’s Index Revolutionizes Fintech with NFTs for Software License Ownership

• Satoshi’s Index becomes the first Fintech Company to use NFTs for software license ownership.
• The technology innovation uses NFTs to authenticate user ownership and permissions by recording software licenses on the Ethereum blockchain.
• The firm has no current outside investment and is totally crowdfunded by their Discord community.

Satoshi’s Index Introduces NFTs For Software License Ownership

Satoshi’s Index, a Web3 fintech firm offering automated crypto investments, is introducing a new way of owning and selling software products using Non-Fungible Tokens (NFT). Through this technology, users are able to authenticate their ownership and permissions by recording their software licenses on the Ethereum blockchain.

Minting of 737 NFTs

The firm is minting an additional 737 NFTs at .15 ETH each in order to continue scaling and improving its product before raising outside capital investment. The project does not have any current outside investment and remains totally crowdfunded by its several thousand strong Discord community, lovingly referred to as “Satoshi’s Disciples”.

Unique Features of New Platform

Each verified NFT holder will receive unlimited access to use Satoshi’s financial dollar-cost averaging products and corresponding cryptocurrencies investment platform. Furthermore, they will influence the product roadmap through voting on new features, exchanges, and trading strategies that will be added onto the platform next.

Benefits of Tokenization

Utilizing tokenization unlocks many disruptive possibilities such as being able to own your subscription services like Netflix or Spotify and even re-sell them on secondary marketplaces at a price of your choosing. This could potentially revolutionize how users think about software as a service in general.

Conclusion

Satoshi’s Index is pioneering blockchain technology with its introduction of tokenized software ownership for its users who purchase their NFTs from their initial mint. With no current outside investments, it remains completely crowdfunded by its Discord community which provides unique features such as access to financial dollar-cost averaging products among other cryptocurrency investments platforms paired with voting rights for product development decisions.

Mysterious ETH Address Awakens After 7 Years, Contains $149,980

• A mysterious Ethereum (ETH) address was suddenly revealed containing around 100 ETH.
• This caused a flurry of speculation and excitement within the crypto community as to who the owner might be.
• Whatever happens next remains to be seen, but it’s certainly an intriguing development that has gotten many people talking.

Mysterious Ethereum Address

A recently reactivated Ethereum (ETH) address had not seen any activity for an astonishing seven years. The address contained a total of roughly 100 ETH (which currently amounts to around $149,980). This sudden activity from this ancient Ethereum address has captivated and intrigued many in the crypto space.

Speculation & Excitement

The transaction caused an uproar on social media with many crypto enthusiasts speculating on the identity of the mysterious person or entity behind the address. Some suggested that it could be a wealthy investor who had been holding onto their funds for years while others theorized that it might be a sign of something bigger happening in the world of Ethereum.

Activation Details

According to transaction details provided by Whale Alert, the address was reactivated 2 hours and 53 minutes ago at a fee of 0.00033502177254 ETH ($0.50 USD). Naturally, this activation of this long-dormant address has sparked numerous reactions from crypto enthusiasts on Twitter including suggestions that the owner may be preparing to stake their newfound ETH or even that this could be start of more dormant accounts being reactivated in the near future.

Carolyna Mavis

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto, making her personal mission to help non-crypto geeks to understand technology with ease.

Conclusion

Whatever truth may lie behind this story, one thing is certain: It’s certainly an intriguing development that has gotten many people talking!

Huobi Token (HT) Price to Reach $10 Soon? Get Ready for Take-Off!

• Huobi Token (HT) is the native cryptocurrency of the Huobi Global exchange.
• The current market status of HT shows that it holds the 58th position on CoinGecko, with a 24-hour trading volume of $9,926,216 and an all-time high of $39.66 (on May 12, 2021).
• Huobi Token (HT) price prediction 2023 is a bullish one, suggesting that it may reach as high as $10 soon.

What is Huobi Token?

Huobi Token (HT) is the native cryptocurrency of the Huobi Global exchange. It was founded in 2018 and facilitates on-platform governance, rewards, and special event access. It became popular among early investors for allowing them to invest in trading and Initial Coin Offerings (ICOs).

Current Market Status

The current market status of HT shows that it holds the 58th position on CoinGecko right now. Its 24 – hour trading volume stands at $9,926,216 while its 24 – hour price change has gone down by 1.4%. It has a circulating supply of 162,336,522 coins and an all-time high of $39.66 (on May 12, 2021).

Price Prediction 2023

In Huobi Token (HT) price prediction 2023 we use statistics, price patterns RSI RVOL etc., to analyze its future movement in the cryptocurrency market. Currently HT is in range of $5.51 and if pattern continues then its resistance levels might reach up to $6.1483 &$9.5559 respectively and if trend reverses then it can go down till support level of 4$4.5407 &$4.1617 respectively .

Support & Resistance Levels

The charts show the support and resistance levels for Huobi Token (HT). The resistance level are 1$5.6249 , 2$7.7000 , 3$ 99316 whereas Support Level$3 9522 .

Conclusion

In conclusion based on analysis we can say that overall outlook for HT looks bullish with potential to reach even upto 10$. Investors should keep track with latest news regarding same so that they can make informed decisons .

Fast, Secure & Low-Cost Money Transfers: Strike Launches in the Philippines

• Strike has expanded its “Send Globally” product to the Philippines, allowing for fast, secure, and low-cost money transfers between the U.S. and the Philippines.
• The Philippines is one of the world’s largest remittance markets and relies on more than $35 billion annually in money sent from abroad, including more than $12 billion from the U.S.
• The technology used by Strike enables improved cross-border experience and financial inclusion for those who have been excluded by legacy payment rails.

Today, Strike, the world’s leading digital payments platform built on Bitcoin’s Lightning Network, announced the expansion of its “Send Globally” product to the Philippines. This new product provides fast, secure, and low-cost money transfers between the U.S. and the Philippines, revolutionizing traditional cross-border payment services.

The Philippines is one of the world’s largest remittance markets and its people and economy rely on more than $35 billion annually in money sent from abroad, including more than $12 billion from the U.S. alone. To support this, Strike has partnered with Pouch.ph in the Philippines, enabling transfers from U.S. dollars that are received as Philippine pesos in a recipient’s bank or mobile money account in the Philippines.

Jack Mallers, Founder and CEO of Strike, commented: “Remittances are a broken system and Strike delivers an incredibly empowering experience for people to send money around the world in nearly an instant. We’re excited to partner with Pouch.ph to advance financial inclusion and bring fast, low-cost cross-border payments via the Lightning Network to the Philippines. Our technology allows us to both improve on the existing cross-border experience and include those that have previously been excluded by legacy payment rails.”

Strike uses the Lightning Network to make digital payments faster, cheaper, and more accessible for people globally, particularly in countries with a high number of unbanked individuals. The “Send Globally” product allows dollars to be converted into bitcoin, which is sent to the recipient in the Philippines. The recipient then receives the funds in their bank or mobile money account in Philippine pesos.

The expansion of Strike’s “Send Globally” product to the Philippines is a major milestone in the company’s mission to revolutionize digital payments. The product will enable people to send money quickly, securely, and at a low cost, making cross-border payments easier and more efficient than ever before. The expansion will also help to drive financial inclusion, allowing those who have previously been excluded from legacy payment rails to access this technology and benefit from its services.

Snowfall Protocol (SNW) Set to Revolutionize Blockchain Space With 1000x ROI Increase

• Snowfall Protocol (SNW) is set to launch as a cross-chain transfer ecosystem that will enable seamless transfers of fungible and non-fungible tokens (NFTs) across different blockchains.
• BNB (BNB) and Kava (KAVA) are struggling to keep up with the progress of Snowfall Protocol (SNW), as it is predicted to have a 1000x ROI increase.
• Snowfall Protocol (SNW) is connecting the blockchain space with a secure, transparent, and decentralized ecosystem, allowing users to transfer their tokens across different blockchains.

Snowfall Protocol (SNW) is set to revolutionize the blockchain space. On February 3rd, the much-anticipated cross-chain transfer ecosystem will launch, enabling seamless transfers of fungible and non-fungible tokens (NFTs) across different blockchains. SNW is already seeing massive growth in its price and currently sits at $0.191 just before the final stage of the project ends in less than 30 days.

The launch of Snowfall Protocol (SNW) is also causing BNB (BNB) and Kava (KAVA) to struggle to keep up with its progress. BNB (BNB) is the central token for the Binance exchange, while KAVA is a platform for decentralized finance (DeFi). Both BNB and KAVA are unable to match the sheer power that Snowfall Protocol (SNW) is set to bring. SNW is predicted to have a 1000x ROI increase, and this is making BNB (BNB) and Kava (KAVA) look quite sluggish in comparison.

The primary purpose of Snowfall Protocol (SNW) is to connect the world of blockchains with a secure, transparent, and decentralized ecosystem. It is designed to enable users to transfer their tokens across different blockchains. This is a major breakthrough in the blockchain space, as it allows users to move their tokens between various networks and platforms without the need for centralized intermediaries.

Furthermore, Snowfall Protocol (SNW) also offers a number of features that make it stand out from the competition. These features include atomic swaps, cross-chain liquidity mining, cross-chain DeFi, and cross-chain NFTs. All of these features make Snowfall Protocol (SNW) a great choice for investors looking to take advantage of the huge potential of blockchain technology.

In summary, Snowfall Protocol (SNW) is set to launch on February 3rd as the first cross-chain transfer ecosystem. Its launch is causing BNB (BNB) and Kava (KAVA) to struggle to keep up with its progress, as it is predicted to have a 1000x ROI increase. Snowfall Protocol (SNW) is connecting the blockchain space with a secure, transparent, and decentralized ecosystem, allowing users to transfer their tokens across different blockchains. With a number of unique features and a 1000x predicted ROI increase, Snowfall Protocol (SNW) is the best investment right now.