An official bill has been launched in Canada to strengthen and support the increasingly dominating cryptocurrency sector most recently, according to sources. Canada must introduce lucrative and growing opportunities into the rapidly growing cryptocurrency industry and must focus to attract multi-billion investment through flourishing the cryptocurrency market. 

Bill to strengthen the Cryptocurrency Sector Introduced in Canada

The Bill “C-249” was introduced by a Canadian Member of Parliament named "Michelle Remple "will have certain effects in helping the growth and further acceptability of cryptos on Canadian territories. 

The newly introduced bill demands the Canadian officials and particularly Finance Minister to design such a framework that may work to encourage the users of the cryptocurrency market as well as the whole crypto sector in all possible ways. 

All concerned lawmakers must constitute such parameters that remove hindrances from cryptocurrency adoptions.

Moreover, lawmakers in Canada responded that Govt officials are closely observing and analyzing all possible ways to incorporate digital currencies in the real and practical use of Candian users. However, some lawmakers are still not sure about the real working criteria and functions of cryptocurrency. We are striving to make everyone familiar with the positive and potential use of the crypto industry she further added. 

To act as a leading country Lawmakers must understand what cryptocurrency experts recommend or what type of policies would beneficial for the success and use of crypto assets. The Finance Ministry in Canada needs to get assistance and a guideline before pulling the final trigger about the crypto sector development.   

What do you folks say about this initiative taken by the Candian Member of the Parliament? Do let us know in the comments.

 

Securities and Exchange Commission of US (SEC) successfully won the judgement against Super Star Steven Seagal In a charge sheet over a crypto Fraud where Steven Seagal failed to pay the decided amount by the court. Steven Seagal is residing in Russia and has been continuously not responding to the SEC's correspondence.

Steven Seagal Fails to comply with SEC instructions

A Federal Judge for the Eastern District Court of New York signed written orders on the last Friday where The US District Court Judge William Kuntz allowed SEC to immediately recover the number of Penalties including interest  Steven Seagal was ordered to preserver a charge sheet filed by the US Securities and Exchange Commission.

Well-known actor Steven Seagal accepted US District Court orders to pay the agreed fine of $ 330,000 over his involvement in the CryptoCurrency Fraud case earlier, Later on, Steven Seagal moved to Russia and made a single payment of $75000 only.

US movie star Steven Seagal is now a day living his life in Russia since Russian Resident Vladimir Putin specially granted the Citizenship of Russia to Steven Seagal.

Us District Court orders further explain that SEC can now contact with US superstar Business Manager to collect the remaining amount of $255,000 of the whole fine.US district Court ensured the receiving of Orders by the concerned officials.

SEC consistently remained in written communication with Steven representatives  But unfortunately, Steven Seagal didn't respond to the Securities and Exchange Commission and failed to pay the complete fine after he initiated. Now US District Court Ordered the officials to make all the focal persons of Steven appear in the court on the given date.

What do you think about the US movie star Steven Seagal's act of Ignorance to the US District Court Orders, Do let us know in the comments section below.

Blockchain information company Chainalysis has published its 2021 Cryptocurrency Adoption Index, which positions 154 nations by crypto adoption. As indicated by the firm, worldwide crypto reception has developed by more than 2,300% since Q3 2019 and more than 881% somewhat recently. 

New Global Cryptocurrency Adoption Index 

On Wednesday, Chainalysis distributed a see of its 2021 Geography of Cryptocurrency report, which will be delivered in September. The report contains the "2021 Chainalysis Global Crypto Adoption Index," the organization's subsequent emphasis "to gauge grassroots cryptocurrency adoption all throughout the planet." 

The blockchain information examination firm clarified that its Global Crypto Adoption Index consists of three measurements. The first is "on-chain digital money esteem, weighted by buying influence equality (PPP) per capita." The second is "on-chain retail esteem moved, weighted by PPP per capita," and the third is "shared (P2P) trade exchange volume, weighted by PPP per capita and number of web clients." 

Chainalysis noticed that the greatest change to its new crypto adoption record approach from last year's list "was the disposal of a fourth measurement," which was the "Quantity of stores by country weighted by [the] number of web clients." The organization depicted: 

We rank each of the 154 nations as per every one of those three measurements, take the mathematical mean of every nation's positioning in every one of the three, and afterward standardize that last number on a size of 0 to 1 to give each country a score that decides the general rankings. The nearer the country's last score is to 1, the higher the position. 

As per the 2021 Global Crypto Adoption Index, Vietnam positions first, trailed by India, Pakistan, Ukraine, Kenya, Nigeria, Venezuela, and the U.S. 

The main 20 nations in Chainalysis' 2021 Global Crypto Adoption Index and their rankings in the part measurements that make up the general positioning. Source: Chainalysis. 

China and the U.S. plunged in the new by and large positioning. Last year, China positioned fourth by and large while the U.S. positioned 6th. This year, the U.S. positions eighth while China positions thirteenth. "The main motivation the two nations dropped is that their rankings in P2P exchange volume weighted for web utilizing populace declined drastically — China tumbled from 53rd in this part to 155th, while the U.S. tumbled from sixteenth to 109th," Chainalysis point by point. 

Cryptocurrency adoption has soared over the most recent year, and the variety in the nations adding to that show that digital currency is a really worldwide wonder … Global reception has developed by more than 2,300% since Q3 2019 and more than 881% somewhat recently. 

What's your opinion on Chainalysis' Crypto Adoption Index? Tell us in the remarks segment beneath.

A recently conducted survey exposes that ethereum is the most famous Cryptocurrency among more than 4,000 grown-ups studied in Singapore. The second-most famous crypto is bitcoin, trailed via Cardano. 

Singapore-Based Cryptocurrency Investors Prefer Ethereum, Bitcoin, Cardano 

The newly published report of  2021 discloses about the 

 Most favorite Cryptocurrencies of the people of Singapore, a joint report by Cryptocurrency exchanges and service providers like Seedly, Gemini, and well-known Coinmarketcap, was revealed on  Monday. It contains an overview of 4,348 Singapore-based grown-ups ages 18 to 65 across fluctuating family wages. 

A survey was conducted between June 29 and July 9. It included almost 2,800 participants who said they were current crypto holders and 1,490 respondents who said they were non-crypto holders. One out of five crypto holders reviewed were females.

As per the survey results, 77% of participants who held crypto said they invested in ethereum (ETH), 68% said bitcoin (BTC), 41% said they stored Cardano (ADA), 31% said (BNB), and 25% said XRP. The report reflects.

The report notes: "With ETH, BTC, and ADA being the most well-known digital currencies across the two sexes, females hold and exchange XRP and DOT [polkadot] more than their male partners. USDT [tether], then again, is more mainstream among male crypto holders." 

Cryptocurrency Investors additionally unhid how they were influenced by the Covid-19. The report notes, "Out of 2,862 individuals who put resources into crypto, 66% of them put more into crypto in light of the Covid-19 pandemic." The report also shows "The Covid-19  has made more Singaporeans to hold their financial investment into Cryptocurrencies." 

What's your opinion on this overview? Tell us in the remarks segment underneath.