After a rocky start to the new year, March may finally have set the crypto markets back on an upward trajectory. Back in February, news of the war between Russia and Ukraine created significant opportunities for traders to reenter the market at diminished prices. This did not last long, however. The market soon began to recover, and traders who hoped to see Bitcoin (BTC) fall below $40,000 once more were left on the sidelines. Whales remain cautious On March 28, Bitcoin rose back above $48,000 after nearly three months of consolidation. But, surprisingly, key stakeholders with 100 to 10,000 BTC …

The United Kingdom's economic and finance ministry has said it intends to amend its existing regulatory framework to incorporate stablecoins used as a means of payment. In a Monday announcement, HM Treasury said certain stablecoins could potentially become “a widespread means of payment” for retail customers in the United Kingdom following a consultation with various organizations, universities and individuals conducted starting in January 2021. The U.K. government body said it intended to “take the necessary legislative steps” to bring stablecoins into its regulatory framework, “primarily by amending existing electronic money and payments legislation.” The finance ministry said amending its regulatory …

Convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at its 170 outlets across South Australia and Victoria. The move will allow customers to pay for gas, snacks, and even a Subway foot long in over 30 cryptocurrencies. OTR’s parent company the Peregrine Corporation, one of the largest privately-owned companies in South Australia, will also be accepting crypto at its Subway, Oporto, and Smokemart stores. Once the system is finalized in July, it will become the largest business in the country to accept in-store crypto payments. The company is working with Singapore-based exchange Crypto.com …

There is “grassroots evidence” that “America is adopting Bitcoin,” according to Clay Graham, founder of Rapaygo and a Bitcoin Lightning Network (LN) enthusiast. At a Bitcoin Lightning festival held in Portland, United States over the weekend, the Bitcoin LN clocked more than $200 (four million Sats) in just three hours. Hailed as “Puddle Town on Lightning Rails,” Portland’s Bitcoin Party was a space where “vendors, food carts, artists all accept Bitcoin.” Graham told Cointelegraph that there was also a “food cart pod” that acted as a “business attraction destination to Bitcoin fans who want a Bitcoin beach type experience.” Fiat …

The governor of Colorado, Jared Polis, announced in February that the state government plans to allow residents to pay taxes in cryptocurrencies as early as the summer of 2022. To some experts, the move is both legitimizing for the crypto asset class and was expected to come in due time. In an interview, Polis said crypto holders in Colorado could have the option of sending tax payments in digital currency, with the state converting the funds back into fiat as soon as the payments were received through an unnamed intermediary. Colorado is already a leader in Crypto with our first …

An official at the Ministry of Finance of Malaysia reportedly opposed the idea of adopting cryptocurrencies like Bitcoin (BTC) as a payment method following recent crypto-friendly proposals by the deputy communications minister. Malaysia has no plans to recognize BTC as legal tender, deputy finance minister Mohd Shahar Abdullah said in a parliamentary meeting on Thursday, according to a Bloomberg report. “Cryptocurrencies like Bitcoin are not suitable for use as a payment instrument due to various limitations,” Mohd Shahar declared, citing risks like volatility and potential cyber threats. Instead of adopting cryptocurrency for payments, Malaysia will continue to focus on the …

Indian crypto tax policy has become the hottest topic for Indian crypto traders and exchange operators as it is set to become law on March 24 and will come into effect starting on April 1. The proposed 30% crypto tax is the highest in the country and is equivalent to the tax imposed on gambling and lottery tickets. While the high tax bracket was already a cause of concern for many new and small traders, a recent clarification from the government has made things even more complicated for the Indian traders. The parliamentary clarification on March 22 indicated that each …

In an effort to embrace virtual money, the city of Portsmouth, New Hampshire, will allow residents to pay their bills in Bitcoin (BTC) and other cryptocurrencies. Deaglan McEachern, the city's mayor, proposed the idea to city officials, who feel it will provide residents with more payment choices. As per a local news report from Seacoastonline on March 23, Mayor McEachern said that "there are waves of new things that will affect us in terms of our future that use the type of technology used in cryptocurrency." He went on to say: "I want to make sure Portsmouth is not waiting …

In an ongoing effort to carve out a regulated crypto market for the general public, the Thailand Securities and Exchange Commission (SEC) announced a ban on the use of cryptocurrencies for payments. Parallelly, the Commission proposed a new rule that demands disclosure of service quality and IT usage information from crypto businesses including brokers, exchanges and dealers. According to the notice issued by the Thai SEC, businesses in the region have been advised against accepting crypto payments from April 2022 after discussing its implications with the Bank of Thailand (BOT). The joint study conducted by the BOT and SEC concluded …

Ultimate Fighting Championship fighter Matheus Nicolau is the latest world-famous athlete to opt to receive his fight earnings in the largest cryptocurrency, Bitcoin (BTC). The eighth-ranked UFC flyweight fighter, Nicolau received his first salary in Bitcoin on Monday through a deal assisted by Bitwage payroll service, according to a joint announcement shared with Cointelegraph. The Brazilian sportsman has opted to take a paycheck in BTC to hedge against the rising inflation. Nicolau said that earning Bitcoin will help him secure the value of his hard work and not to worry about his money going to waste, adding: “I make my …

On March 21, mobile banking application Dave announced a partnership with FTX US to provide cryptocurrency payments on the platform. It also announced a $100 million investment from FTX Ventures. In the statement, Dave said the investment would aid its strategy for future crypto-related initiatives, with FTX US serving as its partner for cryptocurrencies. Both companies said they’re currently exploring ways to introduce crypto payments into Dave’s platform. FTX US President Brett Harrison commented that it looks to align with companies that can help drive widespread adoption of digital assets, believing Dave was a fit in that regard. Jason Wilk, …

Cryptocurrency exchange Gemini has received an electronic money license from the Central Bank of Ireland. It was the 18th organization to receive the license, and the first since October 2020. Gemini joined such license holders as Coinbase, Stripe, Square and Meta. The e-money license, which Gemini applied for in early 2020 and received March 14, will allow it to issue electronic money, provide electronic payment services and handle electronic payments for third parties. It will also enable the company to passport those services to European Economic Area countries, which are European Union members, Iceland, Liechtenstein and Norway. Gemini already provides …