On this week’s The Market Report show, Cointelegraph’s resident experts discuss if the new consumer price index (CPI) and United States inflation data will be bullish or bearish for Bitcoin (BTC). To kick things off, we break down the latest news in the markets this week: Related: Biggest mining difficulty spike in 14 months — 5 things to know in Bitcoin this week Macro forces are brewing, while Bitcoin network fundamentals defy the bears — which side will win out when it comes to BTC price action? The price of Bitcoin has been relatively uneventful and boring these past few …

Artificial intelligence ecosystem Multiverse Labs has launched a new metaverse city in the United Arab Emirates (UAE), a move the emirate said could enhance the region’s tourism industry. The new metaverse city, dubbed Sharjahverse, was described by Multiverse Labs as a “photorealistic, physics-accurate” metaverse that encompasses the emirate’s 1,000 square-mile surface area. The virtual city will support the local tourism industry and potentially create new metaverse jobs, which aligns with efforts announced by the neighboring emirate Dubai earlier this year. The metaverse city is backed by the Sharjah Commerce and Tourism Development Authority, or SCTDA, which is the main government …

Colorado is accepting crypto as payment for any taxes owed to the state as of Sept. 1. It was the result of a promise made earlier in the year by Colorado Governor Jared Polis, who has proven his commitment to establishing the state as pro-cryptocurrency. Colorado isn’t the only U.S. state trying to incentivize cryptocurrency investment within its borders, as legislatures in Arizona, Wyoming and Utah have all previously introduced bills to accept tax payments in the form of digital currencies in varying degrees. There is much to gain economically for states who embrace blockchain technology and the crypto sector. …

After a build-up of multiple memorandums of understanding (MoU) and an initial “in-principle” approval to operate in Kazakhstan, Binance received a permanent license to operate in the country. As of Oct. 6, the Republic of Kazakhstan’s AIFC Financial Services Authority (AFSA) granted the permanent license to both manage a digital asset platform and provide custody services at the Astana International Financial Center. This newly acquired permanent license gives Binance official status as a regulated platform in the country. Gleb Kostarev, Asia Regional Head at Binance, said this is another step for Binance being a “compliance-focused exchange." Kostarev highlighted Kazakhstan’s recent …

Nasdaq, the American stock exchange, has no immediate plans of launching a crypto exchange until there’s better regulatory clarity from policymakers, said Tal Cohen, the company’s executive vice president. In an interview with Bloomberg, Cohen said that the retail side of the crypto market is fairly saturated and there are enough crypto exchanges catering to the needs of retail investors. He added that his firm would continue its focus on crypto custody services that were launched on Sept. 20. Cohen also shed some light on other crypto-related services that the exchange is working on, namely building execution capabilities on the …

Stablecoin issuer Tether (USDT) has nearly completely slashed its commercial paper holdings, with less than $50 million worth of commercial paper units as of Sept. 30, 2022. Tether CTO Paolo Ardoino made the announcement in an Oct. 3 tweet, adding also that Tether’s United States Treasury bills increased to 58.1% of its total portfolio, up 25.1% from its Jun. 30 figure of 43.5%. #tether portfolio update. Tether as of 30 September 2022 holds ~58.1% of its assets in US t-bills. Up from 43.5% on June 30 2022. CP exposure is < 50M now.@Tether_to — Paolo Ardoino (@paoloardoino) October 3, 2022 …

Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation to determine which “rulemaking authority” will be responsible for regulating parts of the crypto spot market. In an Oct. 3 meeting of the FSOC, Jonathan Rose, a senior economist at the Federal Reserve Bank of Chicago, said the FSOC had released a report in accordance with President Joe Biden’s executive order on crypto, detailing potential financial stability risks of digital assets and regulatory gaps. The report identified regulatory gaps including the spot market for cryptoassets that were not securities subject to “limited direct …

Fumio Kishida, the prime minister of Japan since 2021, has said the government will be making efforts to promote Web3 services, including those dealing with nonfungible tokens, or NFTs, and the metaverse. In an Oct. 3 speech before Japan’s National Diet, Kishida said the government’s investment in the country’s digital transformation had already included issuing NFTs to local authorities using digital technology to solve challenges in their respective jurisdictions, and hinted at digitizing national identity cards. In addition, the prime minister said the cabinet would “promote efforts to expand the use of Web 3.0 services that utilize the metaverse and …

Central bank digital currencies (CBDC) can work well with decentralized finance (DeFi), and they have a lot of potential to boost DeFi adoption, according to a Swiss central bank official. Among many various types of digital currencies, it is CBDC that could provide more stability and lower risks to the development of DeFi, according to Thomas Moser, a governing board member at the Swiss National Bank (SNB). In order to grow, DeFi needs stable money, which is why stablecoins were invented, and stablecoins clearly helped DeFi to become more popular, Moser told Cointelegraph. Despite being polar opposites, centralization and decentralization …

The right to privacy is enshrined in many legal traditions around the world. In the United States, it’s protected by the Fourth Amendment; in the European Union, it falls under Article 8 of the European Convention for Human Rights. While definitions differ between jurisdictions, most of us have a right to a reasonable expectation of privacy for our correspondence, in our homes and about our persons. In the 1970s, businesses, families and individuals started generating data like never before, and the degree to which it fell under existing privacy mandates was increasingly unclear. This proliferation of data was first acknowledged …

Australian blockchain academics and educators have called for more robust Web3 education in schools, preparing students for a world that will be dominated by blockchain technology. Huxley Peckham, head trainer for Blockchain Academy International told Cointelegraph that there are “very few qualified people in the blockchain industry, but there is big demand for qualified people,” noting that worldwide, there are at least 60 different industries using blockchain tech. Both Peckman, and Blockchain Academy International founder Tim Bowman said it was time to rapidly expand blockchain education in schools in order to prepare for a shift in the world economy. Peckham …

Across all tradeable markets and currencies, U.S. Treasuries — government bonds — have significant influence. In finance, any risk measurement is relative, meaning, if one insures a house, the maximum liability is set in some form of money. Similarly, if a loan is taken from a bank, the creditor has to calculate the odds of the money not being returned and the risk of the amount being devalued by inflation. In a worst-case scenario, let’s imagine what would happen to the costs associated with issuing debt if the U.S. government temporarily suspended payments to specific regions or countries. Currently, there …