El Salvador has become the first country to make Bitcoin legal tender, but what are the complexities and potential short-term effects? The cryptocurrency space and wider economic community continue to laud a historic move by El Salvador to recognize Bitcoin as legal tender. The Central American country has become the first in the world to …
Continue reading “Adopting the Bitcoin standard? El Salvador writes itself into history books”
Cryptocurrency is a promising asset class for people and investors, but the lack of proper regulation slows down its innovation. Cryptocurrency is becoming increasingly mainstream. Between the entrance en masse of traditional financial institutions — from investment funds, to banks, to insurance companies — to the multitrillion-dollar market capitalization, crypto is truly unignorable. As such, …
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India’s Directorate of Enforcement (ED) has reportedly sent a notice to Wazirx, one of the largest cryptocurrency exchanges in India, under the Foreign Exchange Management Act, 1999, (FEMA). The investigation was initiated “on the basis of the ongoing money-laundering investigation into Chinese owned illegal online betting applications,” the ED detailed. ED’s FEMA Investigation of Wazirx …
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Kraken, the US-based exchange, is weighing in on whether to use an IPO or a direct listing to go public. Kraken’s CEO Jesse Powell stated that after Coinbase’s performance, they were considering other options for going public next year. The company will be the second crypto exchange to go public in the US if things …
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There’s a lot of buzz in China around the Bee mainnet soft launch following the recent hype surrounding Filecoin and Chia. Reports detail that Swarm is set to kickstart the mainnet on June 13, and droves of miners from China are getting prepared to obtain rewards from the distributed storage platform and content distribution service. …
Bitcoin Satoshi Vision (SV) is a non-mineable token currently trading at $159.44, with a market capitalisation of around 2.9 billion. It is currently the 31st largest cryptocurrency in terms of market cap. The coin is showing strong strengths despite the dip. Bitcoin SV’s popularity stems from its objective to fork the bitcoin cash (BCH) blockchain …
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Filecoin has been shedding value ever since the April market crash, and the coin is not seeing any signs of recovery. On April 1, the coin reached a high of $237 but has since lost more than 50% of its value. At the time of writing, filecoin is trading at $69.08, representing a massive loss …
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Bitcoin Price Prediction – June 12BTC/USD pair now market reverts upswing moves that it had initially embarked upon around the lower range-line of $35,000. The reversion in the move has led price to trade around $35,506 at a reduction of -5.04 percent. BTC/USD MarketKey Levels:Resistance levels: $40,000, $45,000, $50,000Support levels: $30,000, $25,000, $20,000 Buy Bitcoin …
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Sustainability and the need to lessen climate change amid the COVID-19 pandemic have become the global economic agenda. After debating the issue for over eight years, the secretary-general of the Organization for Economic Cooperation and Development (OECD), Mathias Cormann, welcomed a historic international agreement by G-7 finance ministers from the United States, Japan, the United …
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Bitcoin Price Prediction – June 12 The Bitcoin price is facing an intense tug of war as bears mount pressure near $37,500, taking the market price back below the $35,500 support zone. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $44,000, $46,000, $48,000 Support Levels: $28,000, $26,000, $24,000 BTCUSD – Daily Chart Buy …
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Dogecoin, a token created as a joke to mock bitcoin, has become a major digital asset whose holders are increasing by the day. Elon Musk’s favourite coin has slumped by more than 20% in the past seven days and lost 4.5% in the past 24 hours. DOGE started June with very high hopes after being …
Continue reading “Dogecoin Slips 4.5% to $0.304 – Where to Buy DOGE Weekend Dip”
The second-oldest continuously operating U.S. bank, State Street, has launched a new division dedicated to cryptocurrency and digital assets. Multi-trillion dollar asset manager, State Street Corporation, has become the latest financial institution to announce the launch of a dedicated digital finance division. State Street, the second-oldest continually operating bank in the United States, announced the …
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On Friday, June 11, 2021, data shows that Taproot could get locked-in this coming weekend, as the signal ratio is 98.3% and a touch more than 100 additional signaling blocks are needed to lock in the upcoming soft fork. Bitcoin Upgrade Taproot Inches Toward Lock-in, Success Means Activation in November Participants involved with the Bitcoin …
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Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would …
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An official at the Bank for International Settlements (BIS) and former member of the executive board of the European Central Bank (ECB), Benoit Coeure, insists that bitcoin has not passed the test of being a means of payment. He calls El Salvador’s move to make the cryptocurrency legal tender “an interesting experiment.” BIS Official Doubts …
