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FINANCEMAGNETS | Published on 2022-12-01 | 23 mins ago
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FINANCEMAGNETS | Published on 2022-12-01 | 23 mins ago

<p>NOTO, a <a href="https://www.financemagnates.com/fintech/the-regtech-industry-is-booming-but-why/" target="_blank" rel="follow">regtech</a> company based in Sofia, has promoted Hristian Drensky as the Vice President of Strategy and Partnerships. He joined the company in July 2019 and was previously the Head of Strategy and Partnerships.</p><p>According to his Linkedin, Drensky already assumed the new roles at the company earlier this month. “I’m happy to share that I’m starting a new position as Vice President Strategy and Partnerships at NOTO - Outsmart Risk!” he wrote in a Linkedin post.</p><p>Founded in 2015, NOTO provides an enterprise-grade solution to address all financial crime threats. It offers solutions and services around <a href="https://www.financemagnates.com/terms/a/anti-money-laundering-aml/" target="_blank" id="4df0a4d4-58b9-4b86-ad6b-67a720641803_1" class="terms__main-term">anti-money laundering (AML</a>) and fraud detention for companies in several industries, including banking, cryptocurrency, fintech, gaming, and payment processing.</p><p>The company was co-founded by four executives from the <a href="https://www.financemagnates.com/fintech/education-centre/what-is-fintech-and-how-does-it-work/" target="_blank" rel="follow">fintech</a> and <a href="https://www.financemagnates.com/fintech/payments/instant-payments-the-ultimate-guide/" target="_blank" rel="follow">payments</a> space, Apostol Terziev, who oversees the technology; Ivan Stefanov, responsible for strategy; Svetlin Dobrev, who is handling the product; and Mariana Gospodinova. It onboarded its first customer in 2017 and then enhanced its offerings by adding <a href="https://www.financemagnates.com/terms/m/machine-learning/" target="_blank" id="54c21f0f-1c36-4acc-80dc-6a151f07773e_1" class="terms__secondary-term">machine-learning</a> capabilities in 2021.</p><p>Bringing Strong Industry Experience</p><p>Drensky has about a decade of a diversified experience in the financial industry. He also headed the Strategy and partnership team at QaiWare, another Sofia-based company in IT services and consulting. He also spent five years of his career at Payreto, first as a Senior Business Development Manager and then as a Payment Consultant.</p><p>He started his career at a sales and distribution company and then joined the Sofia offices of IBM in roles around sales and distribution (finance), spending a year and six months there.</p><p>He also worked at iCard as a Sales Manager for about a couple of years and at phyre, a financial services company, for over a year with its Sales and Business Development team. He further spent a year and three months at payments firm, Paynetics in a role around Sales and Business Development.</p> This article was written by Arnab Shome at www.financemagnates.com.
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BITCOIN.COM | Published on 2022-12-01 | 24 mins ago
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BITCOIN.COM | Published on 2022-12-01 | 24 mins ago

Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba Suspends New Crypto Mining Operations Citing Possible Increase in Electricity Usage The government of Manitoba is halting new connections of crypto mining centers to the province’s hydroelectric grid, the Canadian press reported. Officials explain the move with the potential for increasing energy demand that the region may not be able to meet. The suspension, imposed for a period of 18 months, will not affect the 37 currently active mining operations, according to an article by the Toronto Star. The measure is aimed at halting a growing number of requests to power new facilities with combined capacity amounting to a sizable portion of the province’s electricity supply. Providing the reasoning for the decision, Manitoba Minister of Finance Cameron Friesen, the government official responsible for the state-owned company Manitoba Hydro, commented on Monday: We can’t simply say, ‘Well anyone can take whatever [energy] they want to take and we’ll simply build dams. The last one cost $13 billion if you priced in the [transmission] line. With the second-lowest electricity rates in Canada, only Quebec offers cheaper power, Manitoba is a magnet for users that need large amounts of electricity such as those involved in the energy-intensive extraction of cryptocurrencies. Friesen revealed that 17 new operators have filed requests with the authorities in the province for a total of 370 megawatts of electricity. That exceeds half of the power produced by the Keeyask hydroelectric generating station which became operational in 2022. The region’s finance minister also highlighted the concern of the Progressive Conservative government that blockchain businesses may not create many jobs. “You can be utilizing hundreds of megawatts and have a handful of workers,” he elaborated. “Manitoba Hydro cannot make discretionary decisions about who to hook up,” Friesen emphasized. A government review is expected to analyze the economic impact of cryptocurrencies and the need for a regulatory framework to approve new large connections to the grid. Earlier this month, the Hydro-Québec public utility asked the electricity distribution regulator in its province to suspend energy allocation for the blockchain sector. Manitoba’s restrictions also follow the enforcement of a partial moratorium on proof-of-work mining in the U.S. state of New York. Do you think other Canadian provinces and U.S. states will adopt restrictive measures for crypto mining? Share your expectations in the comments section below.
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NEWS BTC | Published on 2022-12-01 | 1 hour ago
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NEWS BTC | Published on 2022-12-01 | 1 hour ago

MATIC price started a fresh increase from the $0.765 support zone. Polygon bulls are now aiming a fresh increase above the $1.00 resistance zone. MATIC price started a decent increase above the $0.90 resistance against the US dollar. The price is trading above $0.90 and the 100 simple moving average (4-hours). There was a break above a key contracting triangle with resistance at $0.850 on the 4-hours chart of the MATIC/USD pair (data source from Kraken). The pair could continue to rise towards the $1.00 and $1.12 resistance levels. Polygon’s MATIC Price Eyes Steady Increase This past month, polygon’s price declined below the $1.0 support zone. MATIC even broke the $0.85 support zone and the 100 simple moving average (4-hours). However, the bulls were active near the $0.765 support zone. A low was formed near $0.7642 and the price started a decent recovery wave. The price was able to clear the $0.80 and $0.85 resistance levels. There was a break above the 23.6% Fib retracement level of the main drop from the $1.231 swing high to $0.764 low. Besides, there was a break above a key contracting triangle with resistance at $0.850 on the 4-hours chart of the MATIC/USD pair. The pair is now trading above $0.90 and the 100 simple moving average (4-hours). It gained over 5% today, outperforming bitcoin and ethereum. On the upside, an immediate resistance is near the $0.9580 level. The first major resistance is forming near the $1.00 zone. It is near the 50% Fib retracement level of the main drop from the $1.231 swing high to $0.764 low. Source: MATICUSD on TradingView.com If there is an upside break above the $0.98 and $1.00 resistance levels, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.12 level. Dips Limited in MATIC? If MATIC price rise above the $0.958 and $1.00 resistance levels, it could start a downside correction. An immediate support on the downside is near the $0.90 level. The main support is near the $0.850 level and the 100 simple moving average (4-hours). A downside break below the $0.850 level could open the doors for a fresh decline towards $0.80. The next major support is near the $0.725 level. Technical Indicators 4-hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone. 4-hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now in the overbought zone. Major Support Levels – $0.90 and $0.85. Major Resistance Levels – $0.95, $0.98 and $1.00.
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CRYPTOGLOBE | Published on 2022-12-01 | 1 hour ago
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CRYPTOGLOBE | Published on 2022-12-01 | 1 hour ago

Popular cryptocurrency analyst and influencer Benjamin Cowen has said that there is a “real risk” that the price of smart contract platform Cardano ($ADA) could still drop over 60% during the bear market before bottoming out. In a video Cowen shared with his over 770,000 subscribers on the Google-owned video-sharing platform YouTube, the analyst said […]
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COINGAPE | Published on 2022-12-01 | 2 hours ago
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COINGAPE | Published on 2022-12-01 | 2 hours ago

Amid the crypto market bounce back this week, altcoins have been showing strength with big gains. One altcoin that stands out is UNI, the native cryptocurrency of Ethereum-based decentralized exchange (DEX) Uniswap. On Wednesday, the UNI price jumped by 6% after the successful launch of its new NFT Aggregator. Additionally, the Uniswap active address and network growth has touched a 19-month high to levels last seen on May 4, 2021. On-chain data provider Santiment reports: Uniswap’s new #NFT aggregator, which lets traders swap NFT’s across major marketplaces, has launched with a bang. The 17th ranked asset is +6% today, and had ~8,000 active addresses & 3,180 new $UNI addresses created for the 1st time in 19 months. Courtesy: Santiment Uniswap NFT Aggregator On Wednesday, November 30, decentralized exchange (DEX) Uniswap announced the launch of its NFT aggregator which received a strong response from the industry. This NFT aggregator will allow traders to trade their NFT easily and swiftly across marketplaces. While the market for non-fungible tokens (NFTs) is on a decline with the crypto winter of this year, big players continue to make a move in the space citing potentially bright future. Using Uniswap’s NFT aggregator, users will be able to see NFT listings on some of the. top marketplaces such as OpenSea, LooksRare, NFTX, and others, simultaneously. Additionally, users will also be able to decide different pricing across the board to get the best pricing deal for their purchases. In the announcement, Uniswap said: Our latest Universal Router smart contract can save you up to 15% on gas costs compared to other NFT aggregators, saving our users tens of thousands of gas units over other marketplaces. The launch of Uniswap aggregator comes five months after it acquired NFT aggregator Genie earlier this year. As a result, Uniswap has decided to airdrop approximately $5M USDC to historical genie users. This is a major move by a decentralized player in the NFT market. The post UNI Rallies As Uniswap’s Active Addresses Hit 19- Month High, Here’s Why appeared first on CoinGape.
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LIVE BITCOIN NEWS | Published on 2022-12-01 | 2 hours ago
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LIVE BITCOIN NEWS | Published on 2022-12-01 | 2 hours ago

EOS price is facing resistance near the $1.0 zone against the US Dollar. The price is now trading above $0.92 and the 55 simple moving average (4-hours). There was a break above a connecting bearish trend line with resistance near $0.930 the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could rise further if it clears the $0.99 and $1.00 resistance levels. EOS price is struggling below $1.00 against the US Dollar, similar to bitcoin. The price might attempt to rise if there is a clear move above $1.00. EOS Price Analysis Earlier this month, EOS price saw a major drop below the $0.950 support zone against the US Dollar. The price traded below the $0.92 and $0.90 levels to enter a bearish zone. The pair accelerated lower below the $0.85 support zone and settled well below the 55 simple moving average (4-hours). It traded as low as $0.7900 and recently started a steady recovery wave. There was a clear move above the $0.900 resistance zone. The price broke the 23.6% Fib retracement level of the main decline from the $1.2178 swing high to $0.7901 low. Besides, there was a break above a connecting bearish trend line with resistance near $0.930 the 4-hours chart of the EOS/USD pair. The price is now trading above $0.92 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.952 level. The first major resistance is near the $1.00 level. It is near the 50% Fib retracement level of the main decline from the $1.2178 swing high to $0.7901 low, above which the price might test the $1.110 level. Any more gains might send the price towards the $1.15 level. On the downside, an immediate support is near the $0.920. The next key support is near the $0.900 level. If there is a downside break below the $0.900 support, the price could test the $0.85 support in the near term. EOS Price Looking at the chart, EOS price is now trading above the $0.92 level and the 55 simple moving average (4-hours). Overall, the price could rise further if it clears the $0.99 and $1.00 resistance levels. Technical indicators 4-hours MACD – The MACD for EOS/USD is gaining pace in the bullish zone. 4-hours RSI (Relative Strength Index) – The RSI is now above the 50 level. Major Support Levels – $0.92 and $0.90. Major Resistance Levels – $0.980 and $1.00. The post EOS Price Analysis: Recovery Possible If It Clears This Resistance appeared first on Live Bitcoin News.
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NEWS BTC | Published on 2022-12-01 | 2 hours ago
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NEWS BTC | Published on 2022-12-01 | 2 hours ago

Ethereum gained pace above the $1,250 resistance zone against the US Dollar. ETH even spiked above $1,300 and is currently correcting gains. Ethereum remained well supported and even cleared the $1,280 resistance zone. The price is now trading above $1,250 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it stays above the $1,250 and $1,230 support levels. Ethereum Price Gains Bullish Momentum Ethereum price formed a base above the $1,230 level and extended its recovery wave. ETH was able to climb above the $1,250 and $1,280 resistance levels, similar to bitcoin. The bulls even pushed the price above the $1,300 resistance zone. A new multi-week high is formed near $1,309 and the price is now correcting gains. There was a minor decline below the $1,295 level. The price declined below the 23.6% Fib retracement level of the recent wave from the $1,255 swing low to $1,309 high. Ether price is now trading above $1,250 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,275 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $1,300 level. The first major resistance is near the $1,320 level. A clear move above the $1,320 resistance might send the price further higher. The next major resistance is near the $1,380 level, above which ether price might even clear $1,400. Source: ETHUSD on TradingView.com In the stated case, the price could rise towards the $1,450 resistance zone. Any more gains might send the price towards the $1,500 resistance zone. Dips Limited in ETH? If ethereum fails to continue higher above the $1,300 resistance, it could start a downside correction. An initial support on the downside is near the $1,280 level and the trend line. The next major support is near the $1,275 level or the 61.8% Fib retracement level of the recent wave from the $1,255 swing low to $1,309 high. If there is a break below $1,275, the price could test the $1,250 support. Any more losses may perhaps start another decline towards the $1,225 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,275 Major Resistance Level – $1,300
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BITCOIN.COM | Published on 2022-12-01 | 2 hours ago
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Cryptocurrency exchange Binance has acquired a regulated Japanese cryptocurrency exchange and is now preparing to enter the Japanese crypto market as a regulated entity. “The Japanese market will play a key role in the future of cryptocurrency adoption,” said the general manager of Binance Japan. Binance Entering Japan Cryptocurrency exchange Binance announced Wednesday that it has acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto exchange service provider that is regulated by Japan’s top financial regulator, the Financial Services Agency. The announcement explains: Through this acquisition, Binance enters the Japanese market as a Japan Financial Services Agency (JFSA) regulated entity. “By offering Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies,” the announcement adds. The Tokyo-based crypto exchange SEBC offers brokerage and consultation services to its customers. The trading platform currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY. Takeshi Chino, general manager of Binance Japan, said: The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake. “We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto,” he continued. Binance exited the Japanese crypto market in 2018 following a warning by the Financial Services Agency about operating without a license. In June last year, Binance got another warning from the regulator reiterating that the exchange has been providing crypto exchange services to Japanese customers without registration. The crypto exchange has been expanding globally. Binance has secured regulatory approvals or authorizations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus. According to Binance: The acquisition of SEBC marks Binance’s first license in East Asia. What do you think about Binance entering the Japanese crypto market? Let us know in the comments section below.
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COINGAPE | Published on 2022-12-01 | 3 hours ago
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COINGAPE | Published on 2022-12-01 | 3 hours ago

After Portugal, another European country is set to toughen crypto regulations and further expand taxation on crypto trading. A provision in Italy’s 2023 budget plan seeks to levy a staggering 26% tax on capital gains derived from crypto trading. However, this tax slab will be applicable if the crypto profits are larger than 2,000 euros ($2,062.3). Italy’s tax authorities have been seeing cryptocurrencies and tokens as foreign currencies. Italy’s newly appointed government led by Prime Minister Giorgia Meloni has asked taxpayers to declare the value of their digital assets as of January 1, 2023, and pay a 14% tax. The goal is to encourage Italian citizens to disclose their digital asset holdings and their tax returns. The proposed law, if amended in the parliament, will extend stamp duty to cryptocurrencies and shall also include disclosure obligations. Crypto Taxes In Italy and Across Europe The recent development in Italy came as Europe’s most crypto-friendly destination – Portugal – announced similar plans to tax crypto gain. In October 2022, Portugal said that it plans to levy a massive 28% tax on short-term gains on digital assets. As of now, 2.3% of Italy’s total population of 1.3 million people own digital assets. The crypto adoption is still below that of other nations such as France at 3.3% and the UK at below 5%. But with such heavy crypto taxes in place, it might serve as a deterrence for more players to participate in the crypto space. However, a number of major crypto exchanges have been making a move into Italy citing potential business opportunities here. Earlier this year, the Italian government gave a green light to crypto exchange Binance to set up its base in the country. In the latest development, crypto service providers Nexo and Gemini have been approved for registration with an Italian regulator. As a result, they would be able to serve crypto enthusiasts in Italy. The post Italy Plans to Introduce 26% Tax on Crypto Gains, More Details appeared first on CoinGape.
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NEWS BTC | Published on 2022-12-01 | 3 hours ago
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NEWS BTC | Published on 2022-12-01 | 3 hours ago

After a period of sluggish price action, the price of Solana has finally made a significant recovery on the chart. In the last week, the coin has surged over 9%. Although SOL might be moving up slowly, from a technical standpoint, the altcoin has recovered and might stage a rally in the upcoming trading sessions. Buyers were gradually re-entering the market, indicating that SOL registered accumulation. However, capital inflows remained low. With consistent upward price action, capital inflow will also register a positive change. Now that SOL has made small gains each day, the next resistance mark for the coin stands at $15. If Solana’s price breaks past $15, the coin can rally to $18. Although the Solana price has shown signs of recovery, it is still too early to say if the coin has gotten out of the woods. One push from the bears will bring SOL down to its closest support level. Solana Price Analysis: One-Day Chart Solana was priced at $13.73 on the one-day chart | Source: SOLUSD on TradingView SOL was trading at $13.73 at the time of writing. At the moment, SOL was resting above the $13 support line. There needs to be support from buyers and the broader market for Solana to topple above the $14 price mark. The aforementioned price ceiling should not be too difficult to surpass, given that the altcoin has been trading quite close to that level. On the other hand, the first support for Solana’s price was $13. Failing to remain above that will bring the coin down to $10.50. The amount of Solana traded in the past session was green, depicting a bullish preference. Technical Analysis Solana registered increased buying strength on the one-day chart | Source: SOLUSD on TradingView SOL had witnessed quite the plunge in the month of November. The altcoin entered the oversold region twice this month. At press time, however, Solana had portrayed an increase in demand. The Relative Strength Index noted an uptick and inched closer to the 40-mark. This reading denoted a rise in accumulation. Solana’s price was also above the 20-Simple Moving Average line, which indicated bullishness and that buyers would drive the price momentum in the market. Solana displayed a fall in capital inflows on the one-day chart | Source: SOLUSD on TradingView In terms of institutional interest, SOL has registered mundane performance for months. Despite the chart’s recovery, SOL’s capital inflows have remained low, mostly due to the broader market’s weakness. The Chaikin Money Flow (CMF) indicated capital inflows and outflows. CMF was below the half-line, indicating that outflows were greater than inflows. The Awesome Oscillator (AO) displays the trend and price momentum. AO was positive with green signal bars, which were tied to the buy signal for the altcoin. This also suggested further gains for Solana investors. Featured image from Mudrex, Chart: TradingView.com
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