Partnerships
Lending
CoinFLEX to enable 10% withdrawals from July 15
The remaining 90% of customer funds will be locked and cannot be withdrawn, traded or used as collateral until further notice.
Lending
Celsius unlocks another $195 million in collateral after paying off debt to Compound
Amid its ongoing liquidity crisis, Celsius has paid off its debt to Compound of over $50 million, reclaiming 10,000 WBTC.
Stablecoins
FSB to submit crypto and stablecoin regulation recommendations in October
The FSB said it will submit two public consultation reports on regulating cryptocurrencies and stablecoins, which pose risks to financial stability.
Stablecoins
Aave proposes stablecoin to rival MakerDAO’s DAI
The proposed stablecoin GHO will be overcollateralized, pegged to the U.S. dollar, and backed by Aave Protocol collaterals.
Mining
Texas cryptocurrency miner to use power from batteries to support grid stability
As miners are under scrutiny for adding strain to the Texas power grid, Lancium has struck a deal to use power stored in batteries during peak demand
Legal
Belgium starts consultation on classification of crypto as securities and investment instruments
Belgium's financial regulator has laid out step-by-step guidelines to determine which cryptocurrencies are subject to existing regulations.
Taxes
India’s crypto tax impacted trading frequency of 83% of traders, says survey
India's 30% tax on cryptocurrencies has negatively impacted trader sentiment — a new survey shows just how much.
Exchanges
India’s 1% tax has dealt a heavy blow to crypto trading volumes
Daily trading volumes on most Indian cryptocurrency exchanges have dipped by more than 50% since the tax came into effect on July 1.
Banking
Banks’ exposure to risky cryptocurrencies should be limited to 1%, Basel Committee proposes
This means banks can hold 1% of its core reserves in cryptocurrencies. For banking mammoths like JP Morgan, this means billions of dollars.
Regulation
Singapore’s changed stance on crypto
Last year, Singapore was gearing up to be a global crypto hub. Now the regulators are hardening their approach.
Crime
South Korean prosecutors have banned Terra employees from leaving the country
Terraform Labs employees are banned from leaving South Korea as the prosecutors office explores charging Do Kwon with fraud and other crimes.
Analysis
The worst is yet to come for the crypto market, experts say
Industry experts told CryptoSlate there is "no sign of a bottom yet" but crypto winter could be as short as a few weeks.