ethereum hard fork in August and Bitcoin regulation in Paraguay

Among the highlights this week is the announcement of the Ethereum Foundation reporting on the activation date of the London update. It is expected that the hard fork happen next August. This is one of the most anticipated updates that includes up to five EIP, among which is the EIP 1559, which will change the way commissions are paid on the network.

Meanwhile, the price of bitcoin remains more or less stable in a range ranging from $ 30,000 to $ 35,000. This week the cryptocurrency lost 7%. At the time of writing, BTC is trading at $ 31,680, as reflected in the price of the Latin American and Spanish market, according to the Crypto News price calculator.

With Crypto News, stakeholders can keep up-to-date on price changes in the bitcoin and ether market relative to their local currency. To do this, you can visit the BTC and ETH Price section, which has a calculator to convert quickly and easily to your national currency.

These are the most outstanding news:

  • The Ethereum Foundation reported that the block in which the improvements that come with the hard fork, London, will be activated has already been defined. The update will reach the main network in block 12,965,000. According to programmer estimates, the event will take place between August 3 and 5. The release date was set after the developers successfully completed the deployment and evaluations of the EIP on the Ropsten test network.
  • A document containing the draft law to regulate Bitcoin in Paraguay was leaked on the Internet. Initiative aims to monitor transactions made with cryptocurrenciesleaving them subject to tax. The proposed law aims to “regulate business transactions” of blockchain-based digital assets. The plan in the South American country is to regulate all activities related to bitcoin or digital mining and will do so from four state institutions, as established in the legislative proposal called “Law that regulates the industry and marketing of virtual assets and cryptoassets.”
  • The Chinese provinces of Henan, Gansu and Anhui announced their decision to ban mining of bitcoin and other cryptocurrencies in its territory, in order to reduce electricity consumption. With this, they join the other five provinces of this country that had restricted this activity for a few months. Other provinces are expected to do the same in the short term. Meanwhile, the People’s Bank of China published the white paper of its digital currency (CBDC), identified as digital yuan. The entity admitted that the development of cryptocurrencies such as bitcoin was one of the motivations for the development of its CBDC.
  • Binance announced the cessation of support for company share tokens, a type of asset it had launched a few months ago, which represent shares of publicly listed companies. The decision is made after several legal disputes related to these assets that emerged mainly in Europe. In fact, just this week, Italy’s National Securities Market Commission issued a statement stating that Binance Group is not authorized to offer investment services. The company also faces the U.S. Department of Justice that expressed its unease over the thank-you notes, which Binance had been requesting from federal agencies in exchange for collaborating with its investigations.
  • A U.S. federal judge has ruled that Ripple Labs Inc, the company issuing the cryptocurrency XRP, will be able to question a former official of the U.S. Securities and Exchange Commission (SEC) in court. Ripple reportedly asked the magistrate to allow her to challenge William H. Hinman, former head of the SEC’s Corporate Finance Division from 2017 to 2020, who would have said that bitcoin and ether are not security securities.
  • Six people were arrested in southern Venezuela for operating cryptocurrency mining equipment without permits granted by the Superintendence of Cryptoassets and Related Activities (SUNACRIP). The arrests occurred in two different operations, in the city of Puerto Ordaz, BolĂ­var state. A total of 25 equipment confiscated for Bitcoin mining. Days later, the detainees were released thanks to the intercession of SUNACRIP, determining the non-origin of the arrest carried out by police forces.

If you want to know the meaning of several words of crypto world terminology, you can check them out in the extensive Crypto News Glossary.

DLT (Distributed Ledger Technology): it can be translated as Distributed Ledger or Distributed Ledger. It is a distributed database in which data or transactions are recorded on multiple nodes. A blockchain plus a network is a specific type of DLT that uses cryptography to organize that data into interlaced blocks

Crypto News Glossary.

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