Weekly Report (03 Jan – 09 Jan. 22) | What Happened This Week In Crypto

This Report will provide you with some important and quick news of cryptocurrencies that happened around the world.

1) The Turkish Parliament Will Consider A New Cryptocurrency Bill

Turkey’s cryptocurrency investors may collectively exhale a cautious sigh of relief. In the next weeks, Parliament will get a legislative framework that prioritises the openness, security, and auditability of cryptocurrency trading platforms. A secondary objective of the framework is to foster the establishment of blockchain enterprises by establishing a suitable financial environment…[continue reading]

2) The United States’ Worldwide Market Share For Bitcoin Mining Has Surpassed 35%

Interestingly, in September 2019, the Bitcoin mining business in China accounted for a whopping 75.5 percent of all computer energy utilised. However, the landscape has evolved dramatically since China’s cryptocurrency crackdown, with China’s involvement plummeting to 0% in the summer of 2021, according to statistics from the Cambridge Centre for Alternative Finance…[continue reading]

3) Mirror Trading International’s CEO Is Arrested In Brazil For Running A Ponzi Scheme

Johann Steynberg has nowhere to go after his name was revealed in a Brazilian region, and he is now being held by police on suspicion of defrauding thousands ofThe CEO and owner of Mirror Trading International were seized by military police and the Rapid Ostensive Intervention Group (Giro) in Goiás, Brazil’s capital city. Brandon Topham, head of enforcement at South Africa’s financial regulator, the Financial Sector Conduct Authority, was informed of the arrest by South Africa’s elite police unit, The Hawks…[continue reading]

4) Vitalik Buterin Is Pessimistic About Chain Bridges

Vitalik Buterin, co-founder of Ethereum and a developer, shared a link to a Reddit article today in which he addressed his conviction in a multi-chain future but raised reservations about cross-chain ecosystems. Buterin mentioned the “basic security limitations of bridges” as a primary reason for his opposition to a cross-chain ecosystem in his thesis…[continue reading]

5) PayPal Is Developing A Cryptocurrency Of Its Own

PayPal is investigating the construction of a stablecoin, likely tethered to the US dollar, but no timeline for the project has been disclosed. According to News, Jose Fernandez da Ponte, PayPal’s senior vice president of crypto and digital currencies, disclosed that the venture was experimental in nature but quite serious, despite the absence of definite plans for a practical implementation…[continue reading]

6) Vitalik Buterin Proposes A New Ethereum Fee Structure

Vitalik Butering has proposed a new fee structure for the Ethereum network, dubbed “multidimensional EIP-1559,” in reference to the recently deployed EIP-1559 update. Behind the technical jargon, the calculations and formulae provide straightforward proposals that might really alter the way Ethereum’s fees work: various quantities of gas will be utilised for different network actions…[continue reading]