Weekly Virtual Currency News | Attention is focused on direct remittance restrictions on domestic exchanges, Tether announces continued purchase of Bitcoin, etc.

news of the week

We will deliver the news mainly for one week (5/13-5/19).

The most widely read news item this week was that Bitbank, a domestic exchange, announced that it would not be able to send crypto assets (virtual currencies) directly to some exchanges in the near future.

Regarding the virtual currency market, the report on the 15th, which wrote about the rebound of the Bitcoin (BTC) price and the net outflow of stablecoins, is attracting attention.

In addition, the news that Tether, which issues the US dollar stablecoin “USDT”, has announced that it will purchase bitcoin on a regular basis also attracted a lot of attention.

1. This week’s news ranking
2. Market news ranking
3. Virtual Currency/Blockchain Industry News

This week’s news ranking

1st place: Bitbank announces restrictions on coin checks and direct remittances to bitFlyer for travel rules (5/18)

Bitbank announced on the 18th that it will not be able to send virtual currencies directly to some exchanges, including Coincheck and BitFlyer, in the near future. This is due to the fact that each company has a different information notification system to comply with travel rules. (the article ishere)

2nd place: Tether “I will buy Bitcoin regularly from this month” (5/18)

Tether today announced an investment strategy to strengthen its portfolio of reserve assets. It said it will use up to 15% of its net realized operating income to buy bitcoin on a regular basis starting this month. (the article ishere)

3rd place: Ripple launches CBDC and stablecoin platform (5/19)

Ripple announced today that it has launched a new platform for CBDC (Central Bank Digital Currency) and stablecoin development. The platform offers a suite of services and is intended for users such as central banks, governments and financial institutions. (the article ishere)

Market news ranking

1st place: Bitcoin rebound, net outflow of stablecoins is on a downward trend (5/15)

Bitcoin price rebounded to $27,192, up 1.33% from the previous day. Also, according to Glassnode data, net outflows (withdrawals) in net stablecoin positions are declining. (the article ishere)

2nd place: Bitcoin rebounds as the US stock index rises, mixed buying and selling pressure (5/18)

Bitcoin rose 1.09% from the previous day to $27,358. The Bitcoin price has rebounded due to factors such as the rise of the US stock index, but the market is experiencing a mixture of buying and selling pressure. (the article ishere)

3rd place: Bitcoin mining difficulty reaches a record high, hash rate continues to rise (5/19)

Bitcoin’s difficulty (mining difficulty) increased by 3.22% compared to the previous time, setting a record high. Over the past few weeks, we have seen increasing competition among miners, with the hashrate continuing to grow despite the sluggish Bitcoin price. (the article ishere)

Virtual Currency/Blockchain Industry News

Ripple Trial SEC’s request to undisclose Hinman’s lecture materials, court dismissed again (5/17)

It was revealed on the 16th that some of Ripple’s allegations were accepted while Ripple and the U.S. Securities and Exchange Commission (SEC) were at odds in court. U.S. District Judge Annalisa Torres has denied the SEC’s motion to sequester documents related to a speech by former corporate finance director William Hinman. (the article ishere)

Ripple acquires cryptocurrency custody company Metaco (5/18)

Ripple announced today that it has acquired Swiss-based digital asset custody firm Metaco for approximately ¥34.4 billion ($250 million). Ripple will expand its institutional offerings to provide customers with the technology to store, issue and settle all types of tokenized assets, including cryptocurrencies. (the article ishere)

Japan, the amount of virtual currency hacked by North Korea is the world’s largest amount equivalent to 98 billion yen = Nikkei (5/16)

From 2017 to 2022, Japan was found to have illegally obtained $ 721 million (98 billion yen) worth of virtual currency by hacking North Korea. The Nikkei Shimbun, which conducted a joint analysis with Elliptic, reported on the 15th. (the article ishere)

Square Enix to accelerate Web3 game development in the fiscal year ending March 24 (5/16)

Major game company Square Enix Holdings (Square Enix) announced its financial results for the fiscal year ending March 23 on the 12th. In the materials of the financial results briefing, the blockchain business is cited as an “initiative to achieve further growth.” (the article ishere)

Ledger launches private key recovery service Concerns about backdoors (5/17)

Cryptocurrency wallet company Ledger announced today that it will soon launch a new product called Ledger Recover. There was a lot of criticism and concern about this product offering. (the article ishere)

STEPN sells collaboration digital sneakers with Japanese animation “Ghost in the Shell SAC_2045” (5/19)

The fitness app “STEPN” announced on the 18th that it will collaborate with the popular Japanese anime “Ghost in the Shell SAC_2045”. In this collaboration, digital sneakers with anime motifs will be sold by lottery. (the article ishere)

Binance’s Australian Division Stops Accepting Bank Wire Transfers (May 19)

Binance’s Australian division, Binance Australia, announced on the 18th that it is no longer possible to make deposits using Binance’s PayID. According to overseas media, it seems that if PayID cannot be used, it will not be possible to make a deposit via bank transfer. (the article ishere)

The post Weekly Virtual Currency News | Attention is focused on direct remittance restrictions on domestic exchanges, Tether announces continued purchase of Bitcoin, etc. appeared first on Our Bitcoin News.