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China and Russia seem to be cooperating in their move to back their currencies with commodities. Will Japan be the first developed nation to adopt bitcoin?
This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Jeff Ross to talk about why he thinks we are still in a bear market and which country he thinks is going to be next to adopt bitcoin as a reserve asset.
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Brazilian congressman, Fábio Ostermann, sees bitcoin as a means to make tools of the state obsolete and allow for technology to set people free.
In an episode of the “Bitconheiros” podcast with guest Fábio Ostermann, the Brazilian congressman commented — among several subjects — on Bitcoin and the adoption of decentralized technologies. This story was shared by local media outlet Boletim Bitcoin.
The Brazilian member of Parliament said that technologies that promote decentralization have the potential to free Brazil, as they can make many institutions obsolete, such as the Central Bank and other institutions linked to monetary policy. He shared,
Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions from VAT, a decision that affirms Bitcoin’s status as a currency. The same has already happened in many other jurisdictions, despite the absence of comprehensive regulations.
Also read: Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks
Paraguay’s Itaipú Dam, one of the largest hydroelectric facilities in the world, is supporting bitcoin and ethereum mining in a city on the country’s border with Brazil and Argentina. These efforts have already spawned a number of new cryptocurrency businesses, creating multiple millionaires, but an ongoing reassessment of the dam’s developmental potential could spell boom or bye for the miners that have been flocking to the city.
Also Read: GMO Internet Sees Huge Leap in BCH Mining For October,
Singapore took a step closer towards cryptocurrencies as the national financial regulators discussed their openness towards the emerging industry during the Singapore Consensus.
It seems that the Singaporean government has a well-thought-out plan for introducing cryptocurrencies into their economy, according to TechCrunch.
The Singapore Consensus 2018 welcomed thousands of cryptocurrency visionaries, entrepreneurs, and experts to discuss and create new links that might form the foundation of the future of the industry. An essential element of the meeting was the talk delivered by the representatives of the Monetary Authority of Singapore (MAS) with regards to the future of cryptocurrencies in their country. It seems that the Singaporean financial regulators are far ahead many other developed countries concerning their understanding of the industry and plans for the future.
The significance of Bitcoin as a borderless and neutral money is becoming increasingly apparent as the U.S. is attempting to block Iran from accessing its bank account.
On Tuesday, U.S. ambassador Richard Grenell revealed that the U.S. government is extremely concerned about Iran’s plans to withdraw 300 million euros in cash held in German banks, Reuters reported. “We encourage the highest levels of the German government to intervene and stop the plan,” said Grenell.
Bitcoin mining has always been an industry which attracts both legitimate operations and people with less than honest intentions. In Iceland, a group of people recently stole 600 ASIC miners, and the police launched an investigation and made several arrests. One of the suspects has now fled the country to Sweden, although it remains unclear how he escaped prison exactly.
Election history was recently made as Sierra Leone became the first country to use blockchain technology to verify voting results in their presidential election.
The application of blockchain technology recorded another milestone recently. While the innovative technology has made tremendous strides in business, it is now putting its stamp upon the political sphere.
The country of Sierra Leone has the distinction of being the first to feature blockchain-verified voting in the country’s presidential election.
In last week’s presidential election in Sierra Leone, blockchain technology was used to verify voting results. However, the new tech was not used throughout the whole country. Rather, it was confined to the country’s most populous region.
The InvestDigital ICO illustrates how Australia has become one of the leading ICO targets for tech startups.
When the Chinese government slapped a ban on initial coin offerings (ICOs) in 2017, the cryptocurrency space took a dive on expectations that similar regulatory action would follow from policymakers in other global regions.
As it turned out, these expectations were misplaced.
While we’ve seen certain government actions seek to impose some degree of regulation onto the ICO space, the overarching trend has been one of embrace, as opposed to rejection.
A real estate company based in Barcelona, Spain has sold an apartment for Bitcoin as cryptocurrency enters the mainstream.
Mister Piso, a real estate company based in Spain, has sold the first piece of real estate using Bitcoin as legal tender. The company is hoping that a shift into cryptocurrency could accelerate sales and revitalize the housing sector.
Bitcoin and similar cryptocurrencies have steadily gained popularity since its inception around 2009, but why does this appeal to businesses or the consumer?
