Month: January 2020

The European Central Bank (ECB) wants to play an active role in the field of digital currency, said President Christine Lagarde. As the bank works on its own digital currency and an instant payment system, Lagarde emphasizes that “central bank initiatives should neither discourage nor crowd out private market-led solutions for fast and efficient retail payments in the euro area.” Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws ECB Wants Active Role The president of the European Central Bank, Christine Lagarde, outlined in an interview…

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The Indian state of Kerala is actively exploring using blockchain technology to improve a wide range of existing systems, including financial. Thousands of people are already being trained in the state to become blockchain experts, some of whom have already graduated, according to the state’s electronics and information technology secretary. He recently revealed the state’s plan to train 20,000 blockchain professionals. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws Kerala’s 5-Year Blockchain Plans The state of Kerala is positioning itself to become the blockchain hub…

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As Bitcoin is adopted by more and more traditional financial institutions, and becomes regulated by governments worldwide, the question of its survival as a truly disruptive alternative to legacy financial systems is raised. After all, if governments like Qatar’s can ban it, and international banking laws like AMLD5 can push bitcoin-friendly companies out of business, how is Satoshi’s revolutionary P2P cash to survive without a counter economy of willing users who transact freely and autonomously? Also Read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws Counter-Economics and…

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Before the emergence of crypto exchanges and trustless multi-sig, early bitcoiners saw the need for an escrow service – a mediator to act as a go-between for strangers transacting online. Given the panoply of options now available, it is strange to think that escrow was once provided by a few early supporters, who put their reputation on the line to give buyer and seller the protection they desired. So, how did the first bitcoin escrow service come about? Also read: Bitcoin History Part 22: The New Wealthy Elite “Bitcoin Escrow?”…

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While American President Donald Trump wages war with Iran, the U.S. Federal Reserve has continued to inject fresh capital into the hands of private banks by giving them $100 billion in overnight and 14-day repos on Tuesday. The same day, Rabobank strategist Philip Marey predicted the central bank will reduce interest rates to zero in 2020. Additionally, former Fed researchers believe the central bank needs to create a “standing repo facility” so private financial institutions can convert securities into fresh fiat reserves whenever they please. Also Read: Money and Democracy:…

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The city of Rockdale, Texas is attracting attention again, similar to the interest the region saw back in the fifties when the Alcoa aluminum smelting facility set up shop. These days, Rockdale’s change is due to the influx of bitcoin miners coming to town from all around the world. A Frankfurt-based operation called Whinstone Inc., recently revealed plans to build a 100-acre mining facility in Rockdale, and so far the plant has attracted clients like SBI Holdings and GMO Internet. Also read: Problems Escalate in Venezuela as Millions Rush to…

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The cryptocurrency community is again showing its commitment to support charitable goals around the world. Binance, the most active international digital asset exchange, has donated $1 million to help with Australian fire relief efforts and invites the community to join the initiative. The recent bushfire season is considered to be the worst in living memory, causing billions in damages. Also Read: Save the Children Now Accepts Bitcoin Cash Donations Binance Supports Australian Bushfire Relief The philanthropic arm of cryptocurrency exchange Binance has announced the kick off of a charity project…

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A South Korean committee directly under the president has recommended several measures to the government that will make cryptocurrency mainstream. Emphasizing that “it is no longer possible to stop crypto asset trade,” the committee recommends integrating crypto into the country’s financial system, allowing financial institutions to directly offer a range of crypto products, including derivatives, listing bitcoin on the country’s stock exchange, and more. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws Presidential Committee Pushes for Pro-Crypto Measures The South Korean Presidential Committee on the…

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Lebanese citizens have been dealing with economic hardship, as the country’s central bank imposed customer withdrawal limits last October. The problems have continued over the last two months, as ATMs have stopped dispensing cash and bank branches close doors in fear of angry clients. Regional reports disclose Lebanese bank customers often wait for hours in long lines at local branches only to be told the bank’s cash reserves have run dry. Also read: Problems Escalate in Venezuela as Millions Rush to Spend Petros Lebanon’s Association of Banks Shuts Banks Down…

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The publication of crypto exchange Kraken’s 2019 Transparency Report has provoked discussion about the scale of government surveillance. According to the report, Kraken received 710 requests last year (or two per day), impacting approximately 1,222 accounts. The report provides further evidence that exchanges are coming under intense scrutiny as global governments get tough on crypto. Also read: Problems Escalate in Venezuela as Millions Rush to Spend Petros A Growing Trend As noted by Kraken in its tweet publicizing the latest Transparency Report, the “trend is obvious,” with costs associated with…

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