In what is yet another victory for the still-nascent crypto-market, DBS, Southeast Asia’s biggest bank, has announced that it will launch a cryptocurrency exchange. The planned digital currency exchange will offer Bitcoin (BTC), Ether (ETH), XRP, and Bitcoin Cash (BCH). According to a statement made by CEO Piyush Gupta, DBS Digital Exchange would be the...Read More
Bitcoin Cash proponents have been introduced to a new project built using the Simple Ledger Protocol (SLP) framework called mistcoin (MIST). The new token is essentially the first mineable implementation of colored coins on Bitcoin Cash. Mist allows participants to mine the SLP tokens “using proof-of-work to help decentralize allocation of newly minted tokens.” It...Read More
A recent study published by Amun researcher, Eliézer Ndinga, shows that USD-pegged stablecoins are being leveraged in Hong Kong as “vehicles for capital control flight.” The report shows how individuals from mainland China, Singapore, and Hong Kong are moving their capital out of control by using these dollar-pegged blockchain tokens. Last week on June 9,...Read More
Democrats from the House of Representatives have introduced legislation that would pay eligible Americans $2,000 a month until U.S. unemployment numbers return to pre-covid-19 levels. Under the proposal, any American citizen 16-years or older making less than $130K per year would receive monthly funding from the federal government. Also read: Minting Basic Income – US...Read More
Bitcoin.com’s Exchange continues to grow and during the last few months, the platform has added support for a number of well known tokens. This week, the trading platform has added support for the Reserve stablecoin (RSV) and the project’s utility token (RSR). Bitcoin.com Exchange users will be able to trade RSV and RSR with trading...Read More
For well over a month now, a great number of countries have been living under lockdowns and stay-at-home orders due to the coronavirus outbreak. Meanwhile, central banks like the Fed, Bank of England (BoE), and European Central Bank (ECB) have funneled trillions into the hands of private financial incumbents. Despite the market carnage on March...Read More
With the recent coronavirus spread and its overall effect on the global economy, some people believe the powers that be are preparing a financial reset. During these times, a number of bitcoiners think a bitcoin-induced form of fiat currency demonetization will take place, otherwise known as ‘hyperbitcoinization.’ However, a few speculators believe digital assets in...Read More
Since Tether’s (USDT) migration to other networks beside the BTC-based Omni protocol, significant shifts have taken place seeing the heavily-printed stablecoin rise to prominence also via Ethereum’s ERC20 standard and Tron’s TRC20 implementation. Ethereum-based USDT supply currently sits at over 2.2 billion tokens, while the Omni equivalent stands at around 1.5 billion. The Tron network...Read More
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency. Also read: Regulatory Roundup...Read More
During the last few days, digital currency markets have been meandering sideways and prices have been less volatile. On Sunday, during the last 24 hours, the entire cryptoconomy is hovering just below the $200 billion zone and there’s roughly $71 billion in global trades. Crypto proponents are still uncertain about the future trajectory and whether...Read More
The National Power Training Institute, under India’s Ministry of Power, is offering blockchain training in multiple cities throughout the country. Participants will learn about blockchain technology, its use cases, smart contracts, Ethereum, cryptocurrency, Bitcoin, and even mining. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto National Training Institute’s...Read More
Four financial regulators in China have jointly issued a fresh warning regarding crypto trading activities in Beijing. The notice explains the reason for the warning and lists prohibited crypto activities, which have reportedly been surging as companies ramp up their blockchain promotion. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO,...Read More
Cryptocurrencies and digital assets are of great interest to numerous companies. In China, Tencent aims to venture deeper into this ecosystem. It is a remarkable decision for the Chinese internet giant and parent company of WeChat. Tencent Explores Digital Currencies Exploring and researching new use cases for cryptocurrencies remains a somewhat controversial approach. Company employees...Read More
In this roundup, we cover a wide range of regulatory developments in the crypto space. Much has transpired in the U.S., including a new crypto bill, SEC’s proposal, lawmakers seeking answers from the IRS, and the state of Michigan signing several crypto bills into law. We also cover France’s first-approved initial coin offering, a proposal...Read More
Eight lawmakers have sent a letter to the IRS seeking answers to new questions stemming from the latest crypto tax guidance. They pointed out a number of major issues including unwarranted tax liabilities for crypto users who unwillingly receive forked or airdropped coins. Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines...Read More
American politicians want to regulate cryptocurrencies. The sooner this voting can take place, the better.. A global regulatory framework for cryptocurrencies will not be easy to implement. More Crypto Regulation in the US Even so, US Congress expects big things from its Cryptocurrency Act of 2020. It will undergo a round of voting in the...Read More
On December 18, Bitcoinbch.com published a video explaining how easy it is to double spend BTC transactions in the wild. Not long after the film was released, the payment processor Travelbybit announced it would be removing both BTC and BCH payments for over 400 Australian merchants. Unfortunately, a few BTC proponents claimed BCH has the...Read More
On December 18, the web portal Bitcoinbch.com published an informal notice explaining that merchants accepting BTC should switch to BCH because of “dangerous flaws” found in the BTC software. The problem is tied to slow confirmation times tethered to a BTC-based protocol called Replace-by-Fee (RBF), which gives individuals the opportunity to double spend on merchants....Read More
Digital currency prices plummeted on Tuesday, as cryptocurrency markets lost billions during the morning trading sessions, New York time. BTC dropped well below the $7k range and other digital assets followed BTC’s path with sharp losses. Crypto prices haven’t been this low since May as the market valuation of the entire cryptoconomy is struggling to...Read More
Fidelity Investments is expanding its crypto services to European clients after seeing increasing potential in this market. The expansion builds upon the company’s U.S. crypto business. “We’ve seen significant interest and engagement by the institutional community, which show no signs of slowing,” the company revealed. Also read: Regulatory Roundup – Crypto ‘Inevitable’ in India, China...Read More
On Monday, the blockchain surveillance company Chainalysis published an excerpt from the firm’s upcoming crime report that will publish in January. According to the Chainalysis research, the Ponzi scheme called Plustoken not only defrauded investors out of $3 billion but the scam “may also be driving down the price of bitcoin.” Also read: Mystery Surrounds...Read More
Fintech companies in the Federal Republic are quickly moving to develop and offer custodial solutions for digital assets under the new German legislation that will allow banks to store, transfer and trade cryptocurrencies next year. Berlin-based Solarisbank has established a subsidiary that will focus exclusively on the niche. The new entity and another German startup,...Read More
More and more banks will expose their clients to cryptocurrencies. ING is no different, as it too is working on custodial services for digital assets. This news isn’t entirely surprising, as banks continue to struggle to turn a profit. A new Plan for ING Bank Introducing new products and services is the only way forward...Read More
According to a recent press release from IDEG Investment Limited, “Asia’s First Bitcoin Trusts” have been launched “as a traditional and comfortable way for ‘old money’ to invest in digital assets.” The two trusts, Asia Bitcoin Trust I and Atlas Mining Trust I, reportedly allow for investors to gain wrapped exposure to bitcoin and to...Read More
German FinTech banking provider, solarisBank, today announced the launch of a new custodial platform for digital assets. As with the company’s digital banking products, the platform is API-accessible, and integrates into its partner’s own websites and apps. Fully Licenced Digital Asset Solution The new platform is run as a subsidiary of solarisBank, called solaris Digital Assets GmbH....Read More
On December 8, the U.S.-based coffee firm that uses cannabidiol (CBD) in its product, Crazy Calm, launched a promotion that aims to send $5 per order to the charity EatBCH. The founder of Crazy Calm, Matt Aaron, also detailed that the startup wanted to leverage the payment processor Shopify but the company closed their account...Read More
The Verkhovna Rada, Ukraine’s legislature, has approved amendments that introduce legal terms and definitions pertaining to the crypto space. The new legislation, which aims to transpose the FATF standards into national law, also identifies who is to take responsibility for the oversight of cryptocurrencies in the country. Also read: Crypto Startups to Get up to...Read More
Banking, in the traditional sense of the term, has become a financial burden for account holders in regions where the era of subzero interest rates has already set in. European nations like Sweden, Denmark, Switzerland, and Eurozone countries have been in negative territory for some time, and banks there have started passing the burden to...Read More
The IRS took to Twitter on August, 26, posting a video about recently mailed CP2000 notices, of special interest to crypto traders. The notice, which seeks to rectify discrepancies made by recipients in tax reporting, is another in a series of crypto-related letters recently sent by the agency. Though the promised guidelines for reporting still...Read More
Last week cryptocurrency prices bounced around after a majority of coins dropped in value on August 21. Today on August 26, digital currency markets have gained around 1.52%, gathering $4 billion since the initial slump. Despite the volatility, cryptocurrencies have consolidated and a few speculators believe a breakout is on the cards that could send...Read More
