Month: July 2019

Russia won’t officially legalize digital currencies in the near future, according to the conclusions of the participants of a “round table” dedicated to crypto regulation. Issuance of Anything Besides Ruble is Still Illegal On Thursday, July 25, a panel of Russian officials and experts discussed the regulation of cryptocurrency. The event was hosted by the press conference center of the “Parliamentary Newspaper,” an editorial managed by Russia’s Federal Assembly (the parliament). The experts concluded that the integration of cryptocurrency into Russia’s financial system is a question of a distant future.…

Soyuzmash, the Union of Machine Builders in Russia, has asked the Central Bank for permission to accept Bitcoin and stablecoin payments for weapons deals. This, they claim, will help them to circumvent US and international sanctions. A Difficult Environment For Selling Weapons Soyuzmash Vice President, Vladimir Gutenev, told the advisory council on military-technical co-operation, that current conditions were tough. The environment is not a competitive one, due to strong sanctions pressure. Payments for weapons which have already been delivered could be delayed for months, and transactions are increasingly difficult. However,…

American venture capital investor, Tim Draper, has commented on India’s proposed bitcoin and crypto ban stating that it will set the nation back 40 years. Death Knell For Bitcoin and Crypto in India India has clearly taken a leaf out of China’s book with its draconian attitude towards crypto assets. A draft ‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019’ was leaked a couple of weeks ago, and promptly endorsed by the government which officially released the report. It spells the death knell for India’s battered bitcoin…

Price action for Bitcoin over the last few weeks seems to have created three higher highs visible on most time-frames. Despite the Bullish sentiment, most indicators have created three lower lows displaying potential bearish divergence around $9,800. Bitcoin 8 Hour Chart On the 8 hour chart for XBT/USD, we can see how price action has developed throughout the latest bull run over the last few months. Price levels are heading towards critical uptrend support at $8,800 as mentioned in my previous analysis. If price levels break this key support level…

Greek billionaire Alkiviades David has reportedly created the world’s first stablecoin pegged to the price of legal cannabis. Swissx Bank of Cannabis Issues SWX Stablecoin As a press release confirmed July 25, the so-called Swissx Bank of Cannabis (SBC), headquartered in the Swiss city of Gstaad, aims to provide the legal cannabis industry with a secondary market.  The release comes in tandem with the Swissx Global Hemp Exchange, a trade forum which will aid the project’s expansion internationally.  As part of the release, a dedicated token, SWX Coin, will launch.…

Bitcoin can recover to its all-time highs of $20,000 by the end of this year, Galaxy Digital CEO Mike Novogratz believes. Institutions To Push BTC To $20k Speaking in his latest interview with mainstream media this week, infamous Bitcoin bull Novogratz said institutions should drive markets higher in H2 2019.  “We had a big move from $4000 to around $13,500 and I think we’re going to consolidate… $8500 should probably be the low that holds,” he summarized to Bloomberg Canada about current price action. …And then I think these institutions…

In Argentina, performing international bank transactions can be problematical and expensive, particularly international money transfers. To overcome these issues, Banco Masventas, a provincial bank, now offers Bitcoin-based money transfers. Also, over-the-counter bitcoin trading is swiftly picking up pace despite massive price volatility.  Private Banks do Not Exchange Money to Non-account Holders Bank policies in Argentina have varied over time as to whether a non-account holder can exchange money at a private bank branch. Indeed, some banks will not exchange foreign currencies unless you have a bank account with them. Moreover,…