MetaMask security is at risk! According to a blockchain security firm Halborn, a new phishing attempt is targeting Metamask [cryptocurrency wallet holders](/news/article/crypto-wallet-multiple-currencies).

Cybercriminals and hackers are profiting on the cryptocurrency airgaps, and as various crypto  businesses grow in popularity, so does the number of frauds and other hacking events targeting cryptocurrency organisations and investors. Technical education specialist Luis Lubeck of blockchain security firm Halborn released [details](https://halborn.com/warning-active-metamask-phishing-campaign/) on how skilled fraudsters attack Metamask holdings via a new phishing effort.

## Look out for suspicious emails

The fraud involves scamming users with emails and convincing them to readily surrender their passwords. According to Halborn, the email appears real at first sight, with Metamask's header and logo proving its validity.

It also includes a message advising users about Know Your Customer (KYC) rules and ways to validate their wallets. However, after reviewing one such email, the blockchain security firm discovered many red flags.

The email had various typographical problems, as well as a bogus sender's email address with the site ‘metamaks.auction’. Halborn further stated that the server used to deliver the email had nothing to do with the legitimate Metamask organisation.

At the bottom of the email ,a ‘Verify Your Wallet’ request was placed which when clicked, directed users to dockwo.com - a domain unrelated to Metamask.

This fraudulent website prompted users to enter their password. According to Halborn, once the victim enters the required passcode, they are actually redirected to the real MetaMask website, which misleads the victim into believing that everything is in order, but the fact of the matter is that the details of their crypto wallet has already been exposed, and the scammers now have all the information they need to access the victim's digital assets.

Keeping in mind the MetaMask security, and fraudsters becoming more sophisticated, the security firm suggests users' to be extra safe, utilise 2FA in every account and update multi-layer security solutions.



MetaMask security at risk!

The UK’s Financial Conduct Authority (FCA), said it plans to implement a few changes. One is about the caps on individual Bitcoin holdings, while the other regards the way of how risky assets can be marketed.

According to the [official document](https://www.fca.org.uk/news/press-releases/fca-clamps-down-marketing-high-risk-investments-consumers), companies will be obliged to use more blatant warnings of cryptocurrencies being risky investment options. Also, all incentives to invest in crypto, such as referral bonuses, are becoming banned. New guidelines are, for now, limited to marketing of high-risk financial products such as some speculative illiquid assets, and peer‑to‑peer (P2P) platforms. However, even though guidelines don’t apply to cryptocurrency ‘per se’, the FCA warned they are also considered to be very risky.

The FCA asserted people are investing in digital assets without understanding how volatile and, therefore, risky this is – just because “a friend” referred it to them. Therefore, the FCA advised all potential investors, not to put more than 10% in risky assets. 

After the recent crash of the crypto market that washed out almost $2 trillion of the market, the regulator said that it is now, more than ever, be assured cryptocurrencies are a very speculative and high risk asset class.

“Consumers should only invest in crypto assets if they understand the risks involved and are prepared to lose all of their money. We expect to take a consistent approach to crypto assets that is taken for other high risk investments,” the report said.

## FCA says all directions must be clear and simple

The FCA’s executive director for markets, Sarah Pritchard, said it’s important for people to be able to “invest with confidence, understand the risks involved, and get the investments that are right for them which reflect their appetite for risk”.

Recently, however the United Kingdom said it would like to become a [global crypto-asset hub](https://news.monitalks.io/news/article/fca-crypto-regulation). It will be interesting to see how the development of the FCA’s regulation heightens or hinders the crypto industry in the United Kingdom.

The FCA added it “looks forward” to the direction given by the authorities of how crypto marketing should look and that the “qualifying of cryptoassets” rules would follow after the legislation is complete.

Pritchard added that all the risk warnings must be easy to follow and written in simple language so all can understand them.

 “Where we see products being marketed that don’t contain the right risk warnings or are unclear, unfair or misleading, we will act,” she added.



UK FCA: Crypto investments are risky

There are around 500 crypto currency exchanges in the industry today. Unfortunately, not all of them are great platforms for your hard-earned money. 
As per  our analysis, you should always consider factors such as trading volume, scalability of the platform, security, insurance, customer service, geographical restrictions, and fees among others before settling on an exchange. 

As a result, MoniTalks has identified eToro and Coinbase as the best cryptocurrency exchanges in the United Kingdom and they continue to trend on the social media platform, Reddit. 

## eToro ― Overall Cheapest Crypto Exchange UK 

Launched in 2007 as a multi-asset trading platform, [eToro](https://www.etoro.com/) provided services under the stock, commodities, exchange-traded funds (ETFs), and indices banner before making the foray into cryptocurrencies in 2013. eToro serves around 27 million customers in over 100 countries. 

As of July 2022, supports more than 60 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM), Litecoin (LTC), DASH, Uniswap (UNI), and Chainlink (LINK). 

Unlike other places of buying digital assets that have been mired in regulatory problems with the [Financial Conduct Authority](/news/article/fca-crypto-regulation) (FCA) of the United Kingdom, the trading platform is registered as eToro UK with company registration no. 7973792. This certifies eToro as the most credible place where you can trade digital assets in the United Kingdom. 

Among the pros is a demo account to help you learn how to trade using virtual funds. Additionally, eToro is extremely accessible and can be found via the Google Play and Apple Store on Android and iOS-powered devices. 

After being in the traditional and decentralized finance trading sector for more than 15 years, eToro has not been involved in any cyber security issues due to the level of its security systems. It continues to operate without incident. 

Moreover, the platform supports several payment methods such as bank transfers, bank cards (MasterCard, Maestro, and VISA), and e-wallets such as Skrill, PayPal, Neteller, and co. With this, you have a range of alternatives to choose from. 

eToro is among trading platforms that have low fees (deposits, trading, and withdrawal). 

The exchange continues to see millions of dollars in daily volume and recently launched eToro Crypto Portfolio, a basket of high-yielding coins. With a single investment, you can see consistent periodical yields.

Despite the positives, eToro is not a traditional cryptocurrency exchange, and dormant accounts are subject to inactivity fees. 

## Coinbase ― User-Friendly Bitcoin Exchange 

Founded in 2012, Coinbase can be accessed in the United Kingdom and is one of the biggest cryptocurrency exchanges by daily trading volume. On 14th March 2018, Coinbase announced via a blog post that it is the first exchange to receive an e-money license from the FCA. 

Overall, there are 98 million verified users, 230,000 ecosystem partners, and 13,000 institutions in more than 100 countries. 

The exchange supports more than 50 cryptocurrencies which include the top 20 digital assets by trading volume. It offers low minimum deposits, several payment methods such as PayPal, and offers a very advanced trading platform. 

Other Honorable Mentions of the best crypto exchanges in the UK include but are not limited to, Binance, OKX, Bitstamp, Crypto.com, Kraken, Gemini, Gate.io, KuCoin, and Bittrex. 


Best UK Crypto Exchange according to Reddit

Israeli authorities implemented further restrictions on cash payments to combat illegal activity and promote the use of [digital payment methods](/news/article/mastercard-crypto-asia).

Due to the Law for the Reduction in the Use of Cash, which came into effect in January 2019, businesses and consumers in Israel are no longer allowed to make payments in cash.

People and businesses are encouraged to use digital payments, making it easier for the government to track illegal activity, tax evasion, and money laundering in the country's black market and elsewhere.

According to the Israeli Central Bank, 6,000 New Israeli Shekels (NIS) for business transactions and 15,000 New Israeli Shekels (NIS) for personal transactions will be the [new limit for cash payments](https://cointelegraph.com/news/israel-puts-the-brakes-on-cash-to-spur-digital-payments) effective August 1, 2022. Additional restrictions, such as a ban on storing more than NIS 200,000 shekels ($58,660) in cash in private residences, are expected shortly.

According to Tamar Bracha, the Israel Tax Authority's (ITA's) head of law enforcement, limiting the availability of cash will make criminal activity more difficult. As a result, "the goal is to reduce market cash fluidity, particularly because criminal organizations tend to rely on cash."

Some have interpreted it as a positive sign of the country's new limits on hard-cash transactions. According to Lark Davis, a crypto influencer with over a million followers on Twitter, Israel is neither the first nor the last country to impose such restrictions. According to the founder of Lyn Alden Investment Strategy, the trend "will probably continue to other countries in the future."

## Cryptocurrency regulation and CBDCs

Central bank digital currencies (CDBCs) are also being explored in the region, with the country first considering a CBDC at the end of 2017. After conducting a public consultation in May, the Bank of Israel released the results of the responses, which indicated strong support for further research into CBDCs and how they would affect the payments market, financial and monetary stability, and legal and technological issues.

In June, the Bank of Israel revealed that it had conducted its first technological experiment with a CBDC, examining user privacy and the use of smart contracts in payments. In addition, a framework for regulating digital assets is being developed in the country.

According to Oz Finance's Jonathan Shek at this year's Israel Crypto Conference in May, Israel's financial regulators have prepared a comprehensive and holistic regulatory framework for digital assets.

Shek hinted that it would happen soon, but he didn't give a specific date, saying that the Israeli government wanted to encourage the development of the crypto industry in their country if it was done responsibly.


Israel halts cash to encourage digital payments

US and UK crypto regulation authorities collaborate to foster and regulate the cryptocurrency and NFT market. The joint forces of these countries will be working on different initiatives to regulate crypto. This recent development will focus on promoting stablecoins and bringing financial innovation. 

Recently, the US Department of the Treasury released a joint statement regarding the UK and US collaborative financial regulatory working group. The virtual meeting was held on 21 July. 

The HM Treasury and the [US Department of the Treasury](https://home.treasury.gov/news/press-releases/jy0888) members took part in the meeting. Besides, the Bank of England (BOE), the Board of Governors of the Federal Reserve System, the Financial Conduct Authority (FCA), the Commodity Futures Trading Commission (CFTC), the Office of Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC), and the Federal Deposit Insurance Corporation (FDIC) were also part of the meeting. 

## US and UK crypto regulation focus points

In general, the crypto regulators from the UK and US discussed seven themes. These include a cooperative international and bilateral approach, financial innovation, secure financing, and non-bank financial intermediation (NBFI). Moreover, benchmark transition, operational resilience, and developments in the Russia-Ukraine war. 

The Working group meeting established that it will focus on promoting financial stability to reduce the risk and uncertainty from the market. Regarding the issue of Non-Bank Financial Intermediation, the meeting decided that liquidity risk management must be prioritised. 
Besides that, the Working Group also discussed the situation of stablecoins in detail. The developments in central bank digital currencies (CBDCs) were also a key discussion point. For this, all participants showed commitment to promoting safe monetary innovations and regulatory measures for stablecoins that can be followed throughout the jurisdiction. 

The officials from both countries acknowledged the importance of the US and UK crypto regulation partnership. Also, the members from both sides pledged that they would work together to introduce long-term crypto-asset regulations for a robust and safe market. Earlier, UK lawmakers confirmed to broaden [property rules](/news/article/uk-assess-crypto-law) to the crypto space and NFT. Such developments will help the government in becoming a crypto hub in the future. 

US and UK crypto regulation officials join forces

There are plenty of ways to make money from growing your crypto portfolio through crypto lending, HODLing, mining, etc. However, one can grow crypto through staking, airdrops, interest accounts and gaming as well. 

Here we’ll be explaining some basics of growing your crypto but don’t forget – before any new investment, be sure to DYOR (Do Your Own Research) as well.

## Crypto Lending

Crypto lending could enable you to generate an extra revenue stream without much effort. 

Basically, if you already have some cryptocurrencies stashed in your wallet, you can lend them to other crypto users or platforms. 

[DeFi](https://www.ledger.com/decentralized-finance-defi/) protocols have become massively popular nowadays. And why wouldn’t they? Via DeFi protocol, an average user can get an instant loan without having to wait in a queue, read small letters on 100-page agreements, sign tons of documents, or find three bondsmen and put the second mortgage on the house.

On DeFi platforms, so-called smart contracts replace third parties and enable users to lend and borrow digital assets from each other.

Smart contracts are smartly coded transaction protocols meant for automatically executing, documenting or controlling operational processes (i.e.borrowing or lending money) as per the signed terms of a contract or an agreement. No human intermediary is necessary as the whole is fully automated. 

To completely secure your investment, you can lend out stablecoins and generate around 1 to 11% APY. 
 
However, it’s important to understand what collateralized loans are. Basically, they’re making sure a borrower doesn’t just take your money and run.

Most crypto lending platforms are, therefore, dealing with over-collateralized loans. It means that a certain lending protocol needs you to collateralize your loan with some crypto minimum. (e.g. 150% of ETH). If a borrower takes $1,000, he automatically locks no less than $1,500 worth of ETH as collateral. 

This is to make sure the lent funds are safe even if the borrower cannot pay back the loan.
You can lend your crypto in multiple ways. 

Decentralized protocols will lend your cryptocurrencies for a set interest rate and it will generate interest for you. Because there are no intermediaries, you get bonds (usually tokens) through the smart contract and they act as proof of the amount you lent. 

However, if this sounds too complicated, you can always choose to lend your crypto through centralized platforms. However, that would mean you’re not really the crypto owner and you could even pay a service fee. 

## Crypto Staking

One of the simplest ways to increase your crypto portfolio is crypto staking.

Staking offers an exciting opportunity to receive rewards for participating in blockchain validation. However, while it may seem simple and easy to get involved, staking is more complex behind the scenes and introduces unique risks.

One of the factors that differentiate cryptos from fiat money is that the people who use them are the ones operating them. Bitcoin, for example, completely depends on its numerous network participants (nodes) to work in balance via [consensus protocol](https://www.ledger.com/academy/consensus-protocols-how-are-blockchains-secure) called proof-of-work. 
 
## What is a Proof of Work?

Those who run fully operating Bitcoin nodes a.k.a. miners, put all recent transactions in the form of a block of data and repeat the process every ten minutes (so-called Poisson process). Each block has to refer to the previous block to become verified. After a block is mined, it is not visible right away, and until they find out about it, miners are competing against the new block instead of adding to it.

The [Bitcoin](/news/category/bitcoin-news) network uses a proof of work (PoW) mechanism to achieve the mentioned consensus.

Even though this can sound a bit complicated - the main concept is pretty simple.

We obviously cannot be sure of the exact identity of the miners to decide who will be the next block's creator so we can create a hard-to-solve puzzle that needs a lot of work to be answered but can be verified and checked very quickly.
To solve the puzzle, miners have to find the right hash (a unique code for a text or data file). They have to spend a decent amount of their resources on hardware components and electricity for that manner, but the award for each new block they find is – a Bitcoin.

## What is Proof of Stake?

Popularized back in 2011, the Proof of Stake (POS) consensus algorithm was presented as the solution for all the problems Proof of Work might have had.

The PoS consensus mechanism eliminates the high computational and energy requirements of the PoW. This upgrade in the consensus mechanism has been dubbed Ethereum 2.0 as it enables Ethereum network nodes to comply with the state of all previously recorded information on the Ethereum blockchain and avoid possible economic attacks.

Proof of stake demands that miners invest in and hold on to some store of value without the immediate need for spending energy in order to vote.

The PoS algorithm uses a pseudo-random selection process to choose a node that will validate the following block regarding various factors such as the staking age, randomization, and the node's wealth.


## Yield Farming

During the so-called Defi Summer of 2020, yield farming became pretty popular while crypto participants hurried to become “yield farmers.”  

Some DeFi protocols kept rewarding their early adopters with retrospective airdrops, giving users free tokens with a high Annual Percentage Yield (APY) as gratitude for using the protocol first. They were also urging the next phase of the platform’s growth with liquidity mining programs.  

Crypto APY is a  number high enough to attract yield farmers and liquidity providers to one platform over another.

## HODL

The word HODL (from the English HOLD, but misspelled refers to the decision to acquire an asset and keep it in the longer term). 

The whole strategy is based on buying cryptocurrencies at low prices so that you can earn gains when, in the future, the value of this cryptocurrency increases.

Analysis show that HODL came out to be one of the most profitable investment strategies, especially when it comes to Bitcoin HODL-ers. 


Guide to crypto lending, staking and HODLing

There are two types of crypto currency wallets, namely hot and cold storage wallets. Keys are used in hot wallets (a type of cryptography, like a password). They are produced or kept on a connected device and are less secure than cold wallets.

A cold wallet is a storage option that does not have internet access. They are also known as [Hardware wallets](/news/article/cryptocurrency-hardware-wallet) since they employ physical media, generally in the form of a USB stick. It is the most secure sort of wallet since hackers would need access to your device and the related PIN/Password.

There are several hot/cold crypto wallets for multiple currency storage in the market, making it difficult to select an ideal wallet for your crypto storage requirements. For your convenience, we have reviewed a curated list of top hot and cold crypto wallets to store multiple currencies in 2022.

## 1.	Coinbase Wallet
If you're new to cryptocurrency, the Coinbase wallet must be your go-to simple hot wallet. This is free, easy to use, and linked to the exchange, implying that these crypto wallets supports multiple currency storage. It supports hundreds of cryptocurrencies and is noncustodial, which means you keep ownership of your private keys.

## 2.	Trezor
When it comes to hardware wallets, the [Trezor](https://trezor.io/) is a name that is often mentioned. Developed by SatoshiLabs, this wallet is one of the most popular on the market, and for a good reason. It's easy to use, making it ideal for those who are new to cryptocurrency.

The Trezor can store a wide range of coins, including Bitcoin, Ethereum, and Litecoin, and can be used on both Windows and Mac operating systems. Plus, it integrates with a number of online exchanges and wallets, making it a great all-around option.

## 3.	Ledger Nano S
Ledger Nano S is one of the best hard wallets around. This small, USB-sized device is a secure way to store your cryptocurrency offline and can be used to sign transactions and check your balance.

The Ledger Nano S is a great option for those who want to keep their cryptocurrency safe. These wallets are hosted by third-party providers and offer a variety of features, including support for multiple cryptocurrencies, 2-factor authentication, and backup options.

## 4.	GreenAddress
When it comes to hardware and online crypto wallets, GreenAddress is a name that stands out from the rest. This wallet is well-known for its user-friendly design, security features, and support for multiple currencies.

One of the things that sets GreenAddress apart is its multi-signature technology. This means that you need more than one key to access your funds—even if someone gets their hands on your wallet, they won't be able to steal your coins. Plus, GreenAddress offers 2-factor authentication and a host of other security features to keep your funds safe.

If you're looking for a reliable and user-friendly online crypto wallet, GreenAddress is a great option.

## 5.	MetaMask
To trade your cryptocurrency, a hot wallet is necessary since it will make transactions easier and faster. With that in mind, [MetaMask](https://metamask.io/) has been popular among cryptocurrency traders since it provides fresh entry points into the Web3 realm.

MetaMask supports numerous Ethereum-based blockchain networks (including Binance), NFTs, and all Ethereum-based coins. It's a popular, simple wallet that works with everything built on Ethereum, which accounts for a sizable portion of the Web3 world. These qualities, when combined, provide it an advantage over competitor wallets.

You can use Metamask to store NFTs and other collectibles, as well as to swap or acquire tokens and coins in combination with a hardware wallet (such as Trezor or Ledger). So, if you want to learn more about NFTs and the metaverse, MetaMask is a good place to start.
There are a lot of different crypto wallets to store multiple currencies out there, and it can be tough to figure out which one is right for you. Hardware wallets are a great choice if you're looking for maximum security. They're offline, so your coins are safe even if the internet goes down, and they're immune to viruses and hacking attempts. Online wallets are great for convenience - you can access them from anywhere in the world, and they're perfect for small transactions or everyday use.

The choice of crypto wallets depends on the investors needs. Every investor is unique, so conduct extensive research on all of the crypto wallets that support multiple currencies on the market and choose the model that is most closely matched with your investment activity and goals.


Top crypto wallets that hold multiple currencies 

In the fall of 2021, the [cryptocurrency industry](/news/article/crypto-news-australia-regulation) hit a high market value of $3 trillion. Early crypto ETF UK investors benefited greatly from rapid growth. As a result, there is much excitement about discovering and investing in the next cryptocurrency startup.

If investors want indirect exposure to digital currency , [crypto ETF's](https://www.ft.com/content/7b219639-dccd-4a4b-ad37-b8701df22db6) are an excellent investment. Buying equity in firms with bitcoin exposure is a safer, perhaps less rewarding option.

## Here is a list of seven crypto ETF’s UK to consider for 2022:


### 1. Amplify Transformational Data Sharing ETF

The Amplify Transformational Data Sharing ETF is one of the largest funds focusing on the cryptocurrency and digital asset market, with $955 million in assets under management as of spring 2022. The fund's top assets include cryptocurrency trading platform Coinbase Global and semiconductor manufacturer Nvidia, which produces GPUs and the hardware required for crypto mining. Although it does not directly invest in cryptocurrencies, it is a fantastic place to gain exposure to companies that hold and offer crypto currency services, as well as the “picks and shovels” of the industry.

### 2. Bitwise 10 Crypto Index Fund

The Bitwise 10 Crypto Index Fund is a monthly rebalanced fund that invests in the top ten cryptocurrencies (as determined by market cap). Since Bitcoin and Ethereum are the largest cryptocurrencies, they account for 61% and 29% of the underlying portfolio, respectively. As it trades over the counter, this fund can trade at a significant discount or premium to the underlying crypto values it holds, depending on share demand.

### 3. Siren Nasdaq NexGen Economy ETF

Another fund focusing on firms developing and capitalizing on blockchain technology is the Siren Nasdaq NexGen Economy ETF. Its emphasis has widened to include more general technology companies with a crypto or blockchain segments; It also includes shares of traditional lenders and digital payment networks that have begun to dabble in cryptocurrency.

### 4. First Trust Indxx Innovative Transaction & Process ETF

Another large crypto exchange traded fund is the First Trust Indxx Innovative Transaction & Process ETF. The portfolio has 103 stocks, making it the most diverse cryptocurrency ETF. First Trust is also a significant and well-established organisation that has built a wide range of investment products, which may satisfy those investors concerned about track record and fund manager reputation. It offers broad exposure to the crypto area and several multinational IT businesses.


### 5. Bitwise Crypto Industry Innovators ETF

The Bitwise Crypto Industry Innovators ETF debuted in May 2021, making it a latecomer to the crypto fund scene. This fund's underlying equities include several Bitcoin miners and owners. It only has 30 equities, concentrating on inventors and crypto pioneers.

### 6. Global X Blockchain ETF

The Global X Blockchain ETF argues that blockchain technology serves purposes other than cryptocurrency. It makes appropriate investments in 25 tech and Bitcoin mining firms leading the charge in cryptocurrency and underlying blockchain technology.

### 7. Global X Blockchain & Bitcoin Strategy ETF

The Global X Blockchain & Bitcoin Strategy ETF, which began in November 2021, is closely related to the Global X Blockchain fund, which accounts for about half of the underlying holdings. The new ETF investment, however, differs in that the other half of the portfolio invests in Bitcoin futures. Bitcoin futures are a method of simulating the daily fluctuations in the value of an asset, in this instance, Bitcoin. 

Cryptocurrencies are still a relatively new asset class, and ETFs dedicated to them are even more so. Investors should expect much volatility in cryptos and the firms focused on their growth, as with any emerging asset class.

If Investors feel that cryptocurrency usage will grow in popularity over time, they should acquire some crypto directly as part of a diversified portfolio. However, there should be an investment thesis for each cryptocurrency invested. 

The views of the article is that of the author and is not to be interpreted as financial advice, rather as opinion.


Top Crypto ETF’s to invest in the UK 

[Elrond](https://elrond.com/) supports dApps, NFTs, and other types of transactions. The platform is also designed to handle high volumes of transactions. It can handle tens of thousands of transactions per second, more than what [Bitcoin](/coins/btc) and Ethereum blockchains can handle.

## History of the Elrond Company

Beniamin Mincu, Lucian Mincu, and Lucian Todea Elrond  founded Elrond in 2017. Beniamin and Lucian Mincu (brothers) also co-founded MetaChain Capital and ICO Market Data, an aggregator of information around initial coin offerings.

Beniamin Mincu is currently the CEO of Elrond while Lucian Mincu is the CIO. Lucian Todea is the COO of the blockchain platform.

In June 2019, Elrond conducted a private investment round that saw it raise $1.9 million from several angel investors. The same month the project held an Initial Exchange Offering (IEO) and raised $3.25 million in exchange for 25% of its total token supply.

Elrond’s native tokens were initially known as Elrond with the symbol ERD. However, after the project launched its mainnet in July 2020 the native coins were changed to EGLD coins. ERD holders then received 1 EGLD coin for every 1,000 ERD coins they held.




## Elrond’s Unique Features

Elrond stands out with its fast and cheap transaction costs. Its capabilities are possible due to several features, which include;

•	Sharding

Sharding involves splitting a blockchain into smaller pieces known as shards, enabling nodes to only process a fraction of the network’s transactions. It is one way blockchains like Ziliqa and Polkadot are using to solve blockchain’s scalability problem.
Elrond uses a transaction mechanism called “Adaptive State Sharding” that splits nodes into subsets to verify transactions. Once transactions are processed, the shards broadcast them to Elrond’s central blockchain (metachain) where they will be settled.

•	Secure Proof of Stake (SPoS)

Secure Proof of Stake is similar to the Proof of Stake consensus mechanism. Instead of miners, Elrond depends on validators to validate transactions and new blocks to the blockchain.
Because Elrond consists of shards instead of a single chain, validators only run nodes that verify transactions within a specific shard.

Transactions from all shards have to be synced, validated, and then written to the blockchain. Contributors to the successfully added batch of transactions get the staking reward via EGLD tokens.




##How Elrond Works

Elrond requires three key participants to work efficiently, validators, fishermen, and observers. The three, operate the Elrond blockchain simultaneously. They enable the Elrond blockchain to be highly scalable;

•	Validators: Validators stake EGLD tokens to verify transactions and add new blocks to the Elrond blockchain.

•	Fishermen: Fishermen verify new blocks after they are added to the Elrond blockchain by validators. Their job is to find invalid blocks and malicious actors participating in the network.

•	Observers: Observers maintain the history of the Elrond blockchain. They are passive network participants who are ineligible for EGLD rewards.

## EGLD Token

The EGLD token is the native currency of the Elrond blockchain. It can be used for staking, to pay transaction fees, and incentivize validators. It can also be used for governance and smart contracts.

EGLD tokens have been performing pretty well since they first came into the scene. According to Coinmarketcap, EGLD coins are currently trading at $56.90 per coin. They are the 42nd largest cryptocurrencies in the world with a live market cap of $1,299,447,038.

EGLD coins have a max supply cap of 31,415,926. There are currently 22,895,867 EGLD coins in public circulation. The coins can be bought in various crypto exchanges including Binance.us, KuCoin, Gate.io, Bitfinex, OKEx, and Crypto.com.

You will need a crypto wallet that is compatible with EGLD coins before you can buy them. Some compatible crypto wallets include the official Elrond wallet, MetaMask, and Trust wallet. The digital coins can also be stored in hardware wallets like Ledger and Trezor.

Based in Malta, the Elrond Company is one company looking to solve one of blockchain’s greatest problems, scalability. The company’s blockchain network stands out with its features that enable it to handle high volumes of transactions cheaply.

While Elrond faces stiff competition from Ethereum, Cardano, and Polkadot, it has the capabilities to compete with them. Some of its features, Adaptive stake sharding and secured proof of stake, rival the leading blockchain platforms.


The Elrond Company

The Law Commission of England and Wales, an independent body created to review and recommend law reforms if needed, confirmed it wants to broaden property rules to the crypto space, including non-fungible tokens as well.

According to the official consultation paper, the government had been asking for a complete review of  the law regarding cryptocurrencies in order to enable their development.

“The Commission’s proposals aim to deliver wider recognition and legal protections for digital assets, allowing a more diverse range of people, groups and companies to interact online and benefit from them,” the [announcement](https://www.lawcom.gov.uk/law-commission-proposes-reforms-for-digital-assets-including-crypto-tokens-and-nfts/) said.

Beside characterizing cryptocurrencies as personal property, reform would include crypto investors  being protected by law in case of losses in hacks or scams.

## Plenty of NFT investors

Commercial and Common Law Commissioner Sarah Green commented there are plenty of [NFT](/news/category/nft-news) investors nowadays who never ask “what happens when things go wrong?”.
“It's not clear at all what happens if you hack into my wallet and take my bitcoin or if ... this system fails and I can't access my Bitcoin,” Green asserted.

The seemingly crypto-friendly proposal is aimed, in part, at helping the U.K. government’s goal of turning the country into a global crypto hub, the commission said in a statement. The commission's proposals, however, would not apply in Scotland or Northern Ireland, which have their own legal systems.

The paper claims the law must acknowledge all unique features of digital assets, including NFTs, that will create a stable legal basis for the crypto industry and its users. With this transformation, the legal system can help create a legally safe environment for cryptocurrencies and the overall market.

This comes in the light of recent announcements by the UK’s Financial Conduct Authority (FCA) that confirmed it has some severe intentions to strengthen cross-border crypto-asset regulation.

It is expected that the UK will become a crypto hub, meaning being more collaborative and innovative when it comes to the supervision of cryptocurrencies in the future.


UK to assess new law defining crypto as property

The world of blockchain is one of the most exciting and innovative industries today. If you're looking for an internship in this field, you're in luck – because there are dozens of opportunities out there!

But before we get into the specifics, let's take a closer look at what blockchain is and why it's so exciting.

## What is blockchain?

You might have heard about blockchain technology, but do you know what it is? Blockchain is a distributed database that allows for secure, transparent and tamper-proof transactions. It's this secure system that has made blockchain a hot topic in the world of business and technology.

If you're interested in getting a crypto internships, read on. In this guide, we'll tell you everything you need to know about how to get started. We'll also give you some tips on how to make yourself stand out from the crowd.

## Why is blockchain an exciting industry?

To put it simply, blockchain is revolutionizing how the world does business. It's providing new ways for companies to track and share data, and it's even paving the way for new forms of commerce.

What's more, the blockchain industry is still in its early stages, which means there are plenty of opportunities for growth and development. And with the rise of cryptocurrency, there are now more opportunities than ever to get involved in the blockchain world.

So, what are you waiting for? Start your journey into the exciting world of blockchain today!

## How many opportunities are there in blockchain?

The world of blockchain is growing rapidly, and with that comes an increasing demand for talented and skilled workers. So, how many opportunities are there in blockchain?

Well, the short answer is: a lot. There are currently thousands of jobs and crypto internships available in the blockchain industry, and that number is only going to grow in the coming years. Whether you're looking for a paid 
or unpaid position, there's definitely something out there for you.

## How to get an internship in blockchain

There are plenty of opportunities in the current market. Whether you're looking for a paid or unpaid position, there are plenty of options out there for you.

The best way to find a crypto internship is to start by doing some research. Check out job websites like LinkedIn, [cryptocurrencyjobs.co](https://cryptocurrencyjobs.co/internship/), uk.indeed.com, etc., and see what companies are hiring interns in this field. Once you've got a list of potential employers, start by sending them your resume and Cover Letter.

If you're having trouble getting started, here are a few tips to help you out:
1. Tailor your resume and cover letter specifically for the company you're applying to.
2. Make sure your skills and experience match the requirements of the position.
3. Highlight any experience you have in blockchain or related technologies.
4. Showcase your passion for the industry and why you want to work in it.
5. Practice, practice, practice! The more confident you sound when talking about blockchain, the better.

## What to expect as a blockchain intern

For starters, you'll likely be working with a team of highly skilled and passionate individuals who are committed to advancing the industry. You'll also be exposed to cutting-edge technologies and learn about the latest trends and innovations. And as the industry grows, so will your opportunities for career development. So if you're excited about blockchain and want to gain experience in this field, an internship is definitely the way to go!

## Conclusion

There are so many opportunities in the blockchain industry when it comes to internships. You can find paid and unpaid internships all over the world, but if you're based in the United Kingdom, there are plenty of options for you as well.

The blockchain industry is constantly growing, so it's a great time to get involved. Not only is it an exciting industry to be in, but there are also many opportunities for career growth.

Read [Latest Moni](/news) to understand more about crypto world and its latest news. 



Guide to Crypto Internships

Kraken exchange, one of the world's largest cryptocurrency exchanges, is under federal investigation for allegedly breaching United States sanctions by enabling customers in Iran and beyond to purchase and sell digital tokens.

Kraken, an $11 billion private entity that allows customers to purchase, trade, or hold multiple cryptocurrencies, has previously faced [regulatory action](/news/article/us-sec-regulation). The Commodity Futures Trading Commission fined the corporation $1.25 million last year for unlawful trading services. 

The cryptocurrency firm would be the largest US crypto business to face OFAC enforcement action. Sanctions on Iran, enacted by the US in 1979, ban the export of goods or services to people or companies in the country.

As the market for digital currencies has risen, the federal government has progressively clamped down on crypto firms. Tether, a stablecoin corporation, was penalised by the CFTC last year for false representations regarding its reserves. Simultaneously, the Justice Department charged an ex-employee of Coinbase, the largest cryptocurrency exchange in the US, with [insider trading](https://www.bloomberg.com/news/articles/2022-07-21/ex-coinbase-manager-arrested-in-us-crypto-insider-trading-case) earlier this month.

## Lawsuit Accused Business in 2019

The Kraken exchange and the subject of sanctions came up in a November 2019 lawsuit filed by a former finance department employee who accused the business of earning money from accounts in sanctioned nations.

Jesse Powell, Kraken's exchange CEO, allegedly stated that he would contemplate breaching the law in various instances if the benefits to the firm exceeded the possible fines. 

However, it is believed Powell stated that the Kraken exchange regularly checks compliance with sanctions laws and, as a general rule, communicates to regulators even possible problems.  

That same year, OFAC began looking into the Kraken exchange, concentrating on the company's accounts in Iran. Sources alleged Kraken users had also created accounts in Syria and Cuba.

A lawyer from a renowned law firm that handles crypto regulations believes that as crypto moves without a bank or intermediaries, exchanges are liable for certain forms of financial regulatory compliance.




Kraken Exchange Under Investigation

Voyager Digital Holdings, a centralised crypto lender, has rejected an offer from FTX and its investment arm Alameda Ventures to buy out its digital assets, claiming that the moves "are not value-maximizing" and may "harm clients."

In a rejection letter submitted in court on Sunday as part of its continuing bankruptcy procedures, Voyager lending attorneys condemned the offer made public by FTX, FTX US, and Alameda on Friday to buy out all of [Voyager's assets](https://news.yahoo.com/crypto-firm-voyager-sell-assets-132257571.html) and existing liabilities, leaving the defaulted loan to Three Arrows Capital (3AC).

## Bankman-Fried proposal plan

On Friday, the three businesses linked to FTX CEO Sam Bankman-Fried proposed a plan to Voyager in which Alameda would absorb all of Voyager's assets and utilise FTX or FTX US to sell and distribute them equally among subscribers affected by the bankruptcy.

[Bankman-Fried](/news/article/former-ftx-ceo-sbf-arrested) stated in FTX's news release that his idea was a method for Voyager customers to recover their losses and move on from the platform:

“Voyager’s customers did not choose to be bankruptcy investors holding unsecured claims. The goal of our joint proposal is to help establish a better way to resolve an insolvent crypto business.”

In a late-night Twitter conversation, Bankman-Fried reiterated his firm's justification for asking to purchase Voyager. He claimed that Voyager's clients had "been through enough already," and that they should be able to retrieve their assets as quickly as possible because bankruptcy processes "can take years."

## Voyager Lending Response

On Sunday, in response to Bankman-Fried proposal plan, the Voyager lending claimed:

“The AlamedaFTX proposal is nothing more than a liquidation of cryptocurrency. It’s a low-ball bid dressed up as a white knight rescue.”

It also outlined six ways in which the proposal could "harm customers," including capital gains tax consequences, unfairly capping the value of each Voyager user's account at its July 5 value, and the effective elimination of the VGX token, which would "instantly destroy in excess of $100 million in value:"

The letter further rejected claims that AlamedaFTX had a better chance of obtaining purchase bids owing to the two companies' continuous partnerships, stating: "Nothing could be farther from the truth as indicated by this answer."

For more latest crypto news, Read [Latest Moni](/news).



Voyager lending rejects FTX’s buyout offer

If you ask Nikhil Rathi, the new chief executive, FCA crypto regulation may become a new item on its agenda. According to him, the UK’s Financial Conduct Authority (FCA), has some severe intentions to strengthen cross-border crypto-asset [regulation](/news/article/crypto-regulations). 

David Hamilton of Pinsent Masons commented on [Rathi’s recent speech](https://www.fca.org.uk/news/speeches/how-uk-will-regulate-future) on how the US and the UK had “agreed to deepen ties”, regarding financial development. He also added that both countries were “exchanging views on crypto-asset regulation and market developments”. 

“Intensive dialogue between our nations is essential to ensure we deliver consistent outcomes,” said Rathi. He added that since the UK had left the European Union, it got the rare opportunity to connect its regulation to today’s market challenges.

Rathi also confirmed FCA primarily invested in data and technology, and kept scanning 100,000 websites for fraud on a daily level.

“The US and UK will deepen ties on crypto-asset regulation and market developments – including relation to stablecoins and the exploration of central bank digital currencies,” Rathi concluded.

## FCA crypto regulation to be more innovative 

Recently, the UK, US and Singapore launched the International Organization of Securities Commissions (IOSCO) governance body on DeFi and crypto market integrity risks. 

Hamilton commented that Rathi’s speech was vital, especially if viewed in the context of the G20 Financial Stability Board’s (FSB) [announcement](https://www.fsb.org/2022/07/fsb-statement-on-international-regulation-and-supervision-of-crypto-asset-activities/) earlier this month on establishing a new regulatory framework for crypto supervision.

Hamilton also added that Rathi’s speech showed just how important it is for companies to have adequate policies and procedures to comply with the Money Laundering Regulations.
Rachael Preston of Pinsent Masons asserted the speech shows FCA’s intention to become an essential player of the regulatory game. 

“Expect to see a more collaborative, innovative and adaptive style of supervision in the future, with the FCA continuing to push the boundaries of the role of a financial regulator in modern society,” Preston said.

She also added that technology solutions will play a substantial leading role in the FCA’s transformation plans, and will be a key factor regarding its effectiveness. 
 
“The question is whether such an approach can deliver the right outcomes to what is an ever more complex, nuanced and user experience-led market,” Preston said.



FCA crypto regulation – new item in the UK-US financial co-lab

In recent years, the online gambling industry has progressed tremendously as it is worth [61.5 billion USD](https://www.statista.com/statistics/270728/market-volume-of-online-gaming-worldwide/) and is expected to grow by 86% in 2028. The primary reason behind its growth is the inclusion of cryptocurrencies in gambling. 

Now, various online casinos deal in fiat currencies and digital tokens. One of the most popular options is mBit Casino which is ideal for [Bitcoin](/coins/btc) players. But, like any other online gambling platform, critics question its legitimacy. Are you wondering whether this casino is white-labelled or not? Read this review to find out the truth! 

## How does gambling work on mBit Casino?

mBit is a Bitcoin wagering platform that is regulated by the Curacao government. You can anonymously register on it and start gambling in Bitcoins. However, if you want to bet with fiat currencies, you would need to provide your personal details. It offers a variety of game categories and payment options. 

Other than Bitcoin, you can gamble with Ethereum, Dogecoin, BitcoinCash, Litecoin, and Tether. It gives you jackpot opportunities like Mega Moolah, or you can try your luck with free spins. 

## Prominent features 

1.	Deposit/no deposit welcome bonuses
You can either deposit an amount initially or start without it. In either case, you will get welcome bonuses. mBit no-deposit welcome bonus will be 50 free spins. Whereas your initial 3 deposits will earn you 250 spins and up to 2.5 BTC.  

2.	Variety of game types
The range of game categories it offers is another distinctive feature. You will get a table, poker, jackpot, slots, and live dealer games. These games are backed by reputable gaming providers. 

3.	Anonymity and security
Crypto gambling will ensure that you remain anonymous. It doesn’t require personal information and keeps you safe from data thefts. Curacao regulates the casino and it has the backing of CoinGaming.io and Direx NV, making it a secure space for gambling.

4.	Withdrawal speed and payment options
Its speedy withdrawals and numerous payment methods are other special features. For transactions, you will have options like bank transfer, Visa, MasterCard, Skrill, Accentpay, and many others.

## Final Verdict: Is mBit Casino legitimate?

In a nutshell, yes, it is a legit, white-label platform for Bitcoin gambling. The Curacao government oversees its regulations which ensures the platform’s safety. Its affiliation with CoinGaming.io and Direx NV further verifies its authenticity. 

Besides that, the range of secure payment options like Visa, MasterCard, Skrill, and others, adds to its credibility. So, good news for Bitcoin gamblers: mBit Casino is legitimate, making it one of the favourites to go!




mBit Casino Review

The United Kingdoms’ giant lender, Barclays, is set to invest a modest sum in a growing cryptocurrency custody firm, Copper. Sky News has [reported](https://news.sky.com/story/barclays-snaps-up-stake-in-2bn-cryptocurrency-firm-copper-12658295) that Copper, a $2bn crypto firm having Hammond Lord as its advisor, has attracted Barclays crypto investment. Barclays confirmed its stake in the recent round of investment for the company. 

The funding has long been under discussion because of the bear market. However, the company has managed to close it in the Series C round. The company’s valuation has reportedly reached $2 billion. Last year, it was a billion short of its expected $3 billion valuation.

The previous round of investment for the firm took place in March 2021. In the Series B round, it raised around $50 million. But Copper did not disclose its valuation after that.  
Barclays crypto funding of ‘millions of dollars’
According to the sources, Barclays crypto investment for this round will be ‘millions of dollars.’ The funding will be concluded in the coming days. However, neither Copper nor Barclays has confirmed the investment. 

Besides, the company has attracted investments from various other lenders. These include prominent names like MMC Ventures, Dawn Capital, and LocalGlobe. 
On the other hand, the crypto news shows the declining market, where several companies like Celsius have declared bankruptcy. Amidst such a climate, securing Barclays crypto funding is a success for the company. 

Previously, the UK’s giant lender refused its services to firms like Coinbase and Binance. But, the bank is one of the oldest to support cryptocurrencies and digital assets in the country. Hence, its stake means more credibility for the firm. 

On the contrary, Copper is facing issues with the United Kingdom’s Financial Conduct Authority. There is a deadlock over the issue of temporary registration required for companies that provide digital asset services. That’s why it is working with Switzerland’s regulations. Find out more about recent development in the digital world at [Latest Moni](/news). 






Barclays snaps up stake in $2bn cryptocurrency firm Copper

The cryptocurrency trading platform FTX, which was co-founded by the billionaire Sam Bankman-Fried, is reportedly in advanced talks to buy the South Korean company Bithumb, according to a person familiar with the subject.

According to the individual, who asked not to be named since they were talking about something sensitive, the companies have been in conversations for several months now. A spokeswoman for Bithumb has stated that they are unable to confirm anything at this time.

The FTX spokeswoman that we reached out to declined to respond. [According to a person who spoke](https://www.bloomberg.com/news/articles/2022-07-22/bankman-fried-s-ftx-said-in-talks-to-buy-south-korea-s-bithumb) on the condition of anonymity to Bloomberg, the two exchanges have been negotiating the arrangement for a number of months now.

As of the time this article was being published, neither Bithumb nor FTX had responded to Forkast's request for comment on the topic. Sam Bankman-Fried, the co-founder and chief executive of FTX, has provided assistance to businesses like BlockFi and Voyager Digital when those companies have experienced a liquidity problem.

Bithumb is one of only five cryptocurrency exchanges in South Korea that have been granted permission to provide cash-to-cryptocurrency conversion services.

In South Korea, Bithumb was responsible for 17.1 percent of the entire cryptocurrency trade volume in 2017, second only to the Upbit exchange in that regard. By providing financial support to struggling businesses or acquiring them outright, Bankman-Fried intends to capitalize on the current downturn in the cryptocurrency industry.

This week, persons with knowledge of the situation stated that FTX and its American company FTX US are in talks to acquire fresh financing. If successful, this would put Bankman-Fried in a position to continue his deal-making frenzy, which has seen him commit almost one billion dollars so far.

According to the data provider CoinGecko, the cryptocurrency trading platform Bithumb, which was established in 2014, presently handles an average daily volume of trades worth approximately $569 million.

It was one of the crypto exchanges in South Korea whose premises were raided this week by local prosecutors as part of an expanding probe into Terraform Labs following the failure of the TerraUSD stablecoin in May. The investigation comes as a result of the collapse of the TerraUSD stablecoin. 

For more developments on the crypto news go to [Latest Moni](/news).


Bankman Fried's FTX is now in discussions to acquire Bithumb

If you have been interested in crypto poker, roulette, slots, or gambling in general, you’ve probably come across many scam sites, one of which is the [FortuneJack scam.](https://www.trustpilot.com/review/fortunejack.com)

Still, we don’t want to allege that anyone was being illicit or fake so let’s try to explain what this ‘crypto casino’ is about. 

According to some (most probably paid) ads, this is one of the oldest crypto casinos on the web that is now facing numerous accusations of scam – especially when big money is involved.

The latest complaint against FortuneJack includes more than 800 Monero (XMR). And not just that, but the whole transaction history of one of the best winning clients was deleted.

According to a user known as PaperWallet, he accumulated a total of $120K on FortuneJack. Still, just a moment before the withdrawal, the whole betting history was deleted by the casino and over half the amount won was deducted.

This, of course, can be added as a ticket to technical support (or lack of) and perhaps the issue can be resolved for that matter. However, the company that calls itself the oldest crypto casino has to take care of its reputation and should not allow such things to happen.

Also, after the complaint, support didn’t answer over 28 hours. 

## Infamous year to start the business

Fortunejack started with its operations in 2014 – the same year hackers stole 740,000 [Bitcoin](/coins/btc) from Mt. Gox customers and 100,000 from the company itself. Not directly related – but shushes the general sentiment.

Also, when looking at the company’s Terms of Service (ToS), it’s viable that the company can, at any moment, change the rules for its customers and they can take effect immediately without previous notice of such actions.

According to the website, the company is encouraging users to regularly check for such updates because it can shrug off any liability for any loss resulting from the changes made.

If we look at regular casinos, which all have similar ToS’s, this could imply that winnings could also be cancelled.

When PaperWallet’s support ticket was finally answered, FortuneJack said its Terms of Service gives them the right to cancel bets when the player places more similar bets as, in such cases, only one of such bets is considered active.

The real question is – why does the company allow that kind of bet to be placed and why does it wait for the outcome before reacting, in this case - nullifying them? More precisely, what would it do if the player had lost?
To us, this seems like a cheating policy involving malicious interpretation of their terms. 

A good reputation is what it’s all about at the end and we believe that Fortunejack forgot that.
The rules should be more apparent and the warnings about this kind of situation should be publicly visible (not only in the fine print).

Finally, bets that are “same” or “similar” should not be approved in the first place, and players should be warned on all of these terms.


The FortuneJack Scam Explained