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Solana (SOL) And Mushe Token (XMU) Quickly Shaping To Be Top Market Contenders

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Solana (SOL) And Mushe Token (XMU) Quickly Shaping To Be Top Market Contenders

Mushe Token (XMU) is a decentralized token that allows peer-to-peer (P2P) interaction, rewards, and governance.

Cryptocurrency has proven to be a very good investment plan and is being more widely adopted each day. If you are new to cryptocurrency it can be daunting to enter this side of the investment world. This article will focus on two crypto projects, a veteran – Solana (SOL), and a newbie – Mushe Token (XMU), which have amazing market prospects. They both possess unique features that make them an attractive option for new and old investors.

 

Solana (SOL); The Rumored Ethereum Killer

Solana (SOL) is a decentralized blockchain network designed to allow the development of user-friendly and scalable apps for the world. It is the fastest blockchain network in the world and has the fastest-growing ecosystem in the crypto space with countless projects spanning across DeFi, NFTs, Web3, and others. Solana (SOL) is one of the major competitors of Ethereum (ETH) so much so that it has been dubbed the “Ethereum Killer”. This is mostly due to the features it offers as a solution to Ethereum’s (ETH) high gas fees and low transaction speeds.

Solana (SOL) can process up to 65,000 transactions per second (TPS) and manages to keep its transaction fees to as low as $0.00025 on an average. This makes it the preferred platform for NFTs and developers looking to build decentralized apps (DApps).

Solana (SOL) is a very popular project in the crypto world, ranked 8th on CoinMarketCap with a market cap of over $14 billion. It has proven to be a great investment for its early buyers and looks like it has a lot of potentials yet to be realized. Solana (SOL) is sure to be a top dog in the crypto industry in the future.

 

Mushe Token (XMU) Enters Exciting Presale Phase

Mushe Token (XMU) is a decentralized token that allows peer-to-peer (P2P) interaction, rewards, and governance. The project offers several features, including Mushe Wallet, Mushe Chat, Decentralized Finance, MusheVerse, Metaverse Banking, and even NFTs.

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Mushe Token (XMU) has plans to enable everyday users to participate in NFTs. Their initial NFTs will have gaming nostalgia and represent a purchase transaction within the ecosystem. Some of the NFTs minted will be for collection purposes, others for utility purposes, and some for both. Users will be able to use the Mushe Wallet to store their NFTs and other items within the MusheVerse.

They have plans that users will be able to buy NFTs that represent ownership of land, commercial and residential property, advertisement spaces, and more.  Mushe Token (XMU) is currently in its presale phase and selling at $0.028 which is a tremendous spike from its initial price of $0.005 and early investors are already making some profit. There will be a total supply of 777,000,000 XMU tokens in circulation, but only 233,100,000 are available in the presale phase. The unsold tokens will be moved to the project’s reserve capital wallet and removed from circulation. Having this cryptocurrency in one’s portfolio could be a smart choice as it has the potential for massive returns in the future.

 

For More Information About Mushe Token (XMU)

Presale: https://portal.mushe.world/sign-up

Website: https://mushe.world/

Telegram: https://t.me/musheworldXMU

Twitter: https://twitter.com/Mushe_World

Instagram: https://www.instagram.com/mushe_world/

The post Solana (SOL) and Mushe Token (XMU) Quickly Shaping to be Top Market Contenders appeared first on .

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Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products

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Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products

The Securities and Exchange Board of India (SEBI) has reportedly proposed banning public figures, including celebrities and sportsmen, from advertising and endorsing crypto products. The regulator also proposed that public figures be held liable for any law violations when promoting crypto products.

SEBI’s Crypto Advertising and Endorsement Proposal

The Securities and Exchange Board of India (SEBI), the country’s securities and commodity market regulator, has proposed prohibiting public figures, including celebrities and sportsmen, from endorsing crypto products, Businessline reported last week. In addition, the regulator proposed requiring advertisers to disclose possible law violations.

SEBI recently shared its view on the subject with India’s Parliamentary Standing Committee on Finance when it was questioned about various crypto issues, sources told the publication. The regulator subsequently submitted a detailed written response to the committee.

The Indian Ministry of Finance also asked SEBI to give its view on the crypto advertising guidelines published in February by the Advertising Standards Council of India (ASCI).

SEBI reportedly wrote:

Given that crypto products are unregulated, prominent public figures including celebrities, sportsmen, etc. or their voice shall not be used for endorsement/advertisement of crypto products.

Furthermore, the securities regulator proposed that public figures be held liable for endorsing crypto products, which could violate certain laws, including the Consumer Protection Act.

In addition, SEBI suggested adding the following statement to the ASCI disclaimer: “Dealings in crypto products may lead to prosecution for possible violation of Indian laws such as FEMA, BUDS Act, PMLA, etc.”

ASCI’s crypto guidelines, which went into effect on April 1, state: “Since this is a risky category, celebrities or prominent personalities who appear in such advertisements must take special care to ensure that they have done their due diligence about the statements and claims made in the advertisement, so as not to mislead consumers.”

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Meanwhile, the Indian government is working on the country’s crypto policy. Finance ministry officials have met with the International Monetary Fund (IMF) and the World Bank to discuss crypto regulation. India’s finance minister recently said that the decision on crypto regulation will not be rushed. Crypto income is currently taxed at 30% in India.

What do you think about SEBI’s view on prohibiting public figures from endorsing crypto products? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions

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Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions

Iran’s Ministry of Intelligence has reportedly blocked almost 10,000 bank accounts over suspicious foreign currency and cryptocurrency transactions. The action was carried out in collaboration with the country’s central bank.

9,219 Bank Accounts Blocked

Iran’s Ministry of Intelligence issued a statement Saturday stating that it has blocked a number of bank accounts due to suspicious foreign currency and cryptocurrency transactions, local media reported. The ministry detailed:

A total of 9,219 bank accounts belonging to 545 individuals were blocked.

The statement adds that the total transaction value blocked was over 60 trillion Iranian tomans, which is approximately $2 billion based on the daily dollar exchange rate in the Iranian open market. Iran’s currency recently hit a four-month low against the U.S. dollar.

However, the ministry did not provide any details on the accounts or how much of the turnover was in digital currency.

The Ministry of Intelligence’s action was carried out by the order of a judge and in collaboration with the country’s central bank. It was part of the Iranian government’s recent plan to combat illegal and unauthorized foreign currency and cryptocurrency transactions. In December last year, the ministry announced that it froze bank accounts of more than 700 “illegal” foreign exchange traders in the country.

Meanwhile, Iran is also cracking down on unauthorized cryptocurrency mining. The authorities have shut down about 7,000 unauthorized mining facilities in the past two years. The Iranian government has also drafted new rules to increase penalties for illegal cryptocurrency mining, including additional fines and imprisonment.

What do you think about Iran blocking bank accounts over suspicious crypto transactions? Let us know in the comments section below.

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Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ben Bernanke

Former Fed Chair Bernanke: Bitcoin Is Mainly Used In Underground Economy For Illicit Activities

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Former Fed Chair Bernanke: Bitcoin Is Mainly Used In Underground Economy For Illicit Activities

Former Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.”

Ben Bernanke on Bitcoin, Cryptocurrency

Former Federal Reserve chairman Ben Bernanke shared his view on bitcoin and other cryptocurrencies in an interview with CBNC Monday.

Bernanke is an economist who served two terms as the chairman of the U.S. Federal Reserve, from 2006 to 2014. He oversaw the Fed’s response to the late 2000s financial crisis during his tenure as chairman.

Noting that the values of bitcoin and other cryptocurrencies change minute-to-minute, he said Monday:

They’ve been successful as a speculative asset.

However, he pointed out that “They were intended to be a substitute for fiat money,” adding that “in that respect, they have not succeeded.”

He continued: “If bitcoin were a substitute for fiat money, you could use your bitcoin to go buy your groceries. Nobody buys groceries with bitcoin because it’s too expensive and too inconvenient to do that. Moreover, the price of groceries … varies radically day-to-day in terms of bitcoin so there is no stability either.”

He opined:

The main use of bitcoin is mostly for underground economy activities and often things that are illegal or illicit.

Bernanke further said:

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I don’t think bitcoin is going to take over as an alternative form of money.

Nonetheless, he expects that bitcoin and cryptocurrencies “will be around as long as people are believers and they want to speculate.”

When asked if BTC is a store of value or digital gold in his opinion, Bernanke insisted that “it is a speculative asset.”

What do you think about the comments by Ben Bernanke? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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