The Cardano network update scheduled for 20 February will be an enhanced consensus mechanism, Ouroboros BFT. A median step between the current Byron era and Shelley, the network upgrade allows staking feature on Cardano’s mainnet. Binance announced support for the upgrade and noted that no new token will be created during this. It added: “Deposits...Read More
Bitcoin suffered a major loss within hours on 19 February, which dragged its price back under the $10k resistance. The largest asset has been having a crest and trough-like movements with $10k as the mean point. On 19 February, the coin noted an overall fall of 6.28% during which the price of BTC slashed from...Read More
Crypto literacy helps people think differently about finance in Mexico The utilitarian value of cryptocurrencies is a contentious topic still. Ever since Bitcoin’s debut, the community has been split with regard to whether it is best suited as an alternative currency or purely as an investment tool. In Latin American countries like Mexico, the lack...Read More
Litecoin’s past 24-hour change does not mirror its recent bullish rally. The silver counterpart to Bitcoin registered a slump of 9.08 percent and its price held support just above $70. According to CoinMarketCap, its market cap remained under $4.5 billion at press time but the 24-hour trading volume remained positive and above $5.4 billion. Source:...Read More
The resurgence of the crypto rally has attracted the attention of traditional investors and market makers, as the alt season sets in. Bitcoin has been relishing during this period as the coin reported a 41% return since the beginning of 2020, while the second-largest crypto, Ethereum marked triple digits yield of 115%. According to Binance.US...Read More
Bitcoin’s recent bullish crossover resulted in the escalation of its price by 7% and crossing the $10k hurdle. With a rising price, the overall active addresses on the Bitcoin network noted a steady rise, with large addresses, with a balance of at least 1/1k of the total BTC supply, holding about 11% of the total...Read More
Currently, there are five endpoints for ODL transactions in existence which include USD, PHP, AUD, MXN and EUR along with five corridors [USD-MXN, USD-PHP, AUD-PHP, AUD-USD, and EUR-USD]. However, there could be 20 ODL endpoints by the end of the year 2020, according to FlashFX’s Chief Enabling Officer, Nicolas Steiger. FlashFX is the only licensed...Read More
Ever since cryptocurrencies gained popularity as an asset class, tax regulations surrounding it have been problematic and complex for most users. While the US has taken proactive steps to bring greater clarity with regard to the regulatory and compliance-related aspects of crypto, the intricacies of compliance and the consequences of failing to comply remain a...Read More
The on-demand liquidity [ODL] platform, introduced to ease and fasten cross-border remittance problem by Ripple, has been expanding globally. Ripple has on-boarded another bank through its RippleNet member Nium. Nium, formerly recognized as InstaReM, announced a partnership with Banco Topazio on 18 February. The digital cross-border payments platform announced that it has “put the finishing...Read More
Bitcoin is re-entering its golden hour, and the futures market is in awe. On February 18, Bitcoin’s bullish rally of 2020 was set in stone, with the cryptocurrency realizing its Golden Cross. The market effects of this cannot be overstated, especially because the last time Bitcoin entered the cross, the price ballooned by over 90...Read More
With the Bitcoin halving event just three months away, the community is ready for a bull run. Though skeptics suggest the halving has already been priced in, many market participants have made contrasting opinions. While the truth is likely somewhere in between these two views, it could be beneficial to look into the supply distribution...Read More
“When we look at a framework, we want regulatory clarity and that’s an important one.” These were the words of blockchain giant Ripple’s CEO, Brad Garlinghouse, who featured in an interview with CNN’s Julia Chatterley. He went on to say that while any remittance market that has a “lot of US Dollar and Euro” flow...Read More
Transparency, as well as privacy, are two crucial pillars that need to be respected during times of distress. With almost 1,770 fatalities in China, over 70,000 total cases reported, at press time, China has turned to blockchain-based solutions to not only fight the crisis. In the latest development, blockchain technology has been aiding the Chinese...Read More
Two months in to 2020 and so far, there have been plenty of predictions made on blockchain and cryptocurrency. In a recent panel discussion, Michael Carrier of Forge, Rod Hall of Goldman Sachs, Spencer Bogart of Blockchain Capital, Asheesh Birla of Ripple, Diogo Monica of Anchorage discussed the important trends in the sector. Spencer Bogart...Read More
There have been a lot of narratives spun around Bitcoin’s upcoming halving, which is slated to happen sometime in May 2020. For example, Galaxy Digital CEO, Mike Novogratz, in a recent interview noted that BTC had the potential to reach and even surpass its all-time highs of $20,000 by May’s block reward halving. Litecoin’s creator...Read More
Ethereum aka the World Computer’s migration to the Proof-of-Stake (PoS) from Proof-of-Work (PoW) chain is taking longer than previously anticipated. It’s obvious considering how huge the network has grown. However, the migration hasn’t been going swiftly; several EIPs have been proposed to improve this. Published 5 days ago, EIP 2515 is trying to squash the...Read More
FOMO or not Bitcoin’s second rally above the critical $10,000-mark has reignited interest among the retail investors. The king coin has been consolidating above $9,700 mark. Following this, strong rallies were also seen in the altcoin space. A surge was also noted in terms of search volume of Bitcoin which recorded a spike following Bitcoin’s...Read More
Facebook‘s cryptocurrency Libra shows no signs of launching this year and there have been plenty of speculations regarding its fate, ever since the start of 2020. However, discussions around the launch of Libra did initiate a lot of other conversations in the crypto-space as well, like the role and impact of Central Bank Digital Currencies...Read More
Switzerland has been at the forefront of crypto-advancement for a long time now. As a result, many bankers in the country have started to see Bitcoin as a natural fit for their country’s financial and banking sector. On a recent podcast, Phil Dettwiler, Head of Custody Storage and Transaction Banking at SEBA Bank AG, stated...Read More
Discussions around Facebook‘s Libra seem to have dialed down a bit lately. However, all the attention that was once given to Libra seems to have extended to Central Bank Digital Currencies (CBDCs) now. A recent research report had revealed that at least 18 central banks are currently developing digital currencies. In fact, China’s central bank...Read More
France has been one of the countries at the forefront of the debate on digital currencies, CBDCs and of course, Facebook’s controversial project, Libra. This debate gained more steam recently after prominent French MPs Laure de La Raudiere and Pierre Person met with France’s Minister of the Economy, Bruno Le Maire to discuss the advantages...Read More
Crypto-assets have come under the scrutiny of various governments over the past few years. In fact, just recently, markets like the U.S and Europe have made clear their plans to bring stringent regulations to curb tax irregularities, money laundering, and terror financing via crypto-channels. While studies have shown that just over 1% of total crypto-transactions...Read More
Bitcoin’s price, at press time, was $10,144. And while the king coin’s price has dipped significantly over the past few hours, Bitcoin’s surge over $10,300 was the world’s largest cryptocurrency’s biggest rally in 2020. In fact, Bitcoin breached the much-anticipated $10k level twice this week after a significant pullback. Today, Bitcoin is seen by many...Read More
One of the biggest concerns for governments and traditional investors across the world regarding cryptocurrencies is the popular misconception that these have the potential to facilitate bad actors. A recent report by CipherTrace Labs found that individuals are operating illicit crypto-Money Service Businesses (MSBs) at 8 out of 10 U.S retail banks whereas in Europe,...Read More
Bitcoin was conceived to ensure the financial independence of people. However, funds stored by users on crypto-exchanges have raised many questions regarding its ownership. Nevertheless, the demand for an established platform to provide custody for cryptocurrencies has only increased and according to Jake Chervinsky, General Counsel at Compound, we are stuck with this custody model...Read More
Discussions around central bank digital currencies [CBDCs] have intensified over the last couple of months, especially since China accelerated its plans to launch its own CBDC last year. In fact, talks about CBDCs even found a place at the WEF in Davos this year. While many lawmakers had previously chosen to proceed with caution, with...Read More
Belgium’s Financial Services and Markets Authority (FSMA) is pushing the government to bring regulations for digital currencies, according to a recent report. In a Senate hearing on Feb 10, Jean-Paul Servais, chairman of FSMA, urged lawmakers to establish a legal framework for the sale, purchase, and use of virtual currencies and all related financial products....Read More
UK government is in-between talks of tightening cryptocurrency regulations for some time now. Recently, a UK based start-up, DAG Global, has applied to become the country’s first bank for cryptocurrency businesses despite regulatory caution, according to a report. The digital banking platform said it would resubmit its application for a banking license next month with...Read More
The digital asset trust company and security company, BitGo announced its expansion plans with new custodial entities in Switzerland and Germany. According to the official release of the Palo-Alto-headquartered firm, BitGo’s Swiss entity BitGo GmbH is a member of the Financial Services Standards Association [VQF], overseen by the Swiss Financial Market Supervisory Authority [FINMA] Its...Read More
The cryptocurrency world had been eagerly waiting for Bitcoin [BTC] to breach crucial resistance at $9.8k and enter the $10k club. Even though Bitcoin’s price did surge past the $10k mark, it couldn’t hold it. Following the $10k spike, Bitcoin fell by 4.55% and despite several recovery efforts, it couldn’t retrieve to $10k. At press...Read More
