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Dublin’s Cosgrave Gaynard Solicitors accepts bitcoin

With more and more individuals and companies getting involved with cryptocurrencies these days in Ireland, including an increasing number of companies operating within the ICO space, Dublin based Cosgrave Gaynard Solicitors have recently announced that they are now accepting payment in bitcoin against legal services. So now if you need to hire a lawyer for litigation, property law, insolvency, restructuring, aviation, finance, leasing, probate, family law or any other legal requirements, you can now use your cryptocurrency to pay for legal fees. The announcement is available here.

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With more and more individuals and companies getting involved with cryptocurrencies these days in Ireland, including an increasing number of companies operating within the ICO space, Dublin based Cosgrave Gaynard Solicitors have recently announced that they are now accepting payment in bitcoin against legal services.

So now if you need to hire a lawyer for litigation, property law, insolvency, restructuring, aviation, finance, leasing, probate, family law or any other legal requirements, you can now use your cryptocurrency to pay for legal fees. The announcement is available here.

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Source: https://bitcoinsinireland.com/dublins-cosgrave-gaynard-solicitors-accepts-bitcoin/

Blockchain

Binance Stops Futures and Options Trading in Australia Amid Regulatory Concerns

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The regulatory clampdown against the world’s largest cryptocurrency exchange keeps pressuring the company to stop providing some of its services. The latest to close down are futures, options, and leveraged tokens for Australians.

  • Binance announced earlier on September 21st the latest change in its service offerings affecting Australian users only.
  • As of September 24th at 09:00 AM (UTC), the trading platform will stop offering Aussie customers trading of futures, options, and leveraged tokens.
  • All existing Australian customers will have 90 days to reduce and close their positions for any of the aforementioned services.
  • “Users will be able to top-up margin balances to prevent margin calls and liquidations, but they will not be able to increase or open new positions.” – reads the statement.

  • If clients fail to exit their positions by December 23rd, 11:59 PM (UTC), they will no longer be able to manually interact with them after that – all remaining open positions will be automatically closed.
  • Binance admitted that the halting of these services comes amid its attempts to “have greater collaboration with the regulators.”
  • The company has come under the scrutiny of numerous global watchdogs in the past. This led to multiple internal changes in several branches. Changpeng Zhao, CEO of Binance, recently said the exchange will look for a new headquarter and will improve its structure.
  • Previously, the exchange also halted its derivatives products in other countries as well, including Italy, Germany, and the Netherlands.
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Source: https://cryptopotato.com/binance-stops-futures-and-options-trading-in-australia-amid-regulatory-concerns/

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Avalanche-Based DeFi Lender Vee Finance Hacked for $36M in BTC and ETH

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A contract address belonging to the DeFi lending platform Vee finance has been exploited with the perpetrator swiping 8,800 ETH and 214 BTC. The attacker has not moved the funds yet, as Vee’s team claiming they have initiated contact to resolve the incident.

  • The protocol announced hours ago that it had halted all services as it became a victim of a security breach. The subsequent update provided the wallet the perpetrator used to transfer funds out of Vee’s address.
  • According to Etherscan, which has already marked the address as being involved in the Vee Finance hack, it currently holds 8,804 ETH and 214 Wrapped BTC (WBTC). With today’s prices, this amount has a USD value of over $36 million.
  • Vee explained that the attack transpired on a pending contract, and all assets in the stablecoin sector were not affected. Meaning, USDT.e, USDC.e, and DAI.e holdings are safe.
  • However, the protocol has halted all of its services to “protect the safety of more users’ assets” and failed to provide a precise timeframe when they will be resumed.
  • The attacker has not yet transferred the stolen fund. As such, the team behind the DeFi protocol is trying to “actively” deal with the situation and has reached out to the hacker to find a solution.
  • “At the same time, we are working with contract auditors and exchanges in the industry to locate the attacker and assist in recovering the assets.”

  • It’s worth noting that this security breach comes just a week after the DeFi lander officially launched its mainnet on the Avalanche blockchain. In just 12 hours, the protocol’s total value locked reportedly grew by $100 million to over $300 million.
  • This is the second hack against a decentralized finance project since the start of the week. As CryptoPotato reported yesterday, pNetwork also fell victim, with over $12 million in various cryptocurrencies stolen.
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Source: https://cryptopotato.com/avalanche-based-defi-lender-vee-finance-hacked-for-36m-in-btc-and-eth/

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Indian government cautious about crypto-adoption, CBDC is a possibility

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Indian traders and exchanges might be bullish about the crypto market, but the Indian  government doesn’t seem keen on rushing into the scene. At least, not until studying its homegrown fintech industry and the anti-Bitcoin protests in El Salvador.

Tracking global news

Indian finance minister Nirmala Sitharaman in a recent interview with Hindustan Times explained why the country seemed to be falling behind when it came to crypto adoption.

Though she admitted, El Salvador wasn’t “the best example,” Sitharaman said,

“You’d think common people don’t care about digital currency; but the public took to the streets against the move. It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone?”

Sitharaman referred to CBDCs as a “legitimate” cryptocurrency and admitted there could be a “possibility,” in hat regard. She noted that India held the “strength of the technology” and acknowledged the need to formulate a Cabinet note. However, Sitharaman wondered if India was ready to follow El Salvador’s way.

Facts on the ground

Though accessibility is a pressing concern, more Indians have discovered crypto than perhaps expected.

Nischal Shetty, CEO of the Indian crypto exchange WazirX – a subsidiary of Binance Holdings – has stated that WazirX sign-ups from India’s tier-two and tier-three cities overtook those from tier-one cities this year. Even so, sign-ups from tier-one cities themselves saw a 2,375% rise. Furthermore, WazirX added one million users in April 2021 alone.

Adding to this, the cost of electricity and Internet data in India are relatively cheaper, which could boost both crypto trading and mining in the future. However, at the last count, there was only one Bitcoin ATM in the whole country.

As per data by Useful Tulips, which combined data from Paxful and LocalBitcoins, India saw transfers worth around $4,502,369 in the last two weeks.

Could anti-Bitcoin protests happen in India?

There is evidence to support both sides. India has a strong history of mass protests, with the farmers’ protests against the government’s agricultural laws being one such example. The 2016 demonetization of part of the country’s paper currency still haunts many, and Internet penetration is yet to cross 50%.

However, India also has the largest diaspora in the world, with approximately 18 million people living outside the country. Crypto innovation could lead to hundreds of millions of dollars being saved on remittance charges as money is sent across borders.

But for the time being, it seems India’s urban residents are more bullish about crypto than its government.

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Source: https://ambcrypto.com/indian-government-cautious-about-crypto-adoption-cbdc-is-a-possibility

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