Venezuela is moving a shipment of 29 tonnes of gold, worth approximately 1 billion Euros or 1.2 billion dollars, to the United Arab Emirates for sale. UAE will pay cash Euros for the trade, which has riled US officials currently engaged in dethroning Socialist President Nicolas Maduro. 3 tonnes were already shipped on January 26th, according to a source speaking exclusively to Reuters. Euros for Liquidity After a record financial crisis in the South American country, compounded by decreased oil production, the Venezuelan government plans to use the Euros to ensure liquidity for international trading. Trading has been all the
Dow Pops 239 Points, But Will Brexit Plan B Spoil the Stock Market Party?
By CCN.com: U.S. stocks continued higher through the midday session on Friday, as upbeat corporate earnings offset lingering fears about global economic growth and a looming Brexit vote in the British parliament on Tuesday. Dow Pounds Higher as Stocks Climb Wall Street’s major indexes opened sharply higher on Friday, reflecting a strong pre-market session for
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GM Shares Leap as Automaker ups Guidance & Unveils Plan to Take on Tesla
A leaner General Motors says it will use the Cadillac brand to compete with Tesla, and the firm also delivered bullish guidance for 2019, sending GM shares upwards by 7%. GM Shares Leap 7% on Friday GM has seen excellent sales levels in the US and expects 2019 vehicle sales to once again hit the
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Inside Ethereum’s Plan To Reduce Energy Consumption by 99%
Ethereum intends to move to proof-of-stake in the future. Making a move to POS will supposedly cut the energy consumed by a hundredfold, or around 99%. There have been repeated claims that cryptocurrency uses too much energy and is therefore inefficient and environmentally unfriendly. Some reports find that mining cryptocurrency uses more energy than gold
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GMO Had a Plan to Take Down Bitmain; Now It’s Bidding Bitcoin Mining Goodbye
More than a year after launching an in-house mining business, Japanese internet conglomerate GMO Internet has announced that it will no longer, develop, manufacture, or sell cryptocurrency mining equipment. In a statement, the Japanese tech firm disclosed that the decision was prompted by challenging business conditions which resulted in an “extraordinary” consolidated quarterly loss totaling … Continued
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French National Assembly Rejects Plan to Loosen Crypto Taxes
The National Assembly in France has recently shot down proposals to ease up the pressure on tax regulations in the crypto space.
As reported by Bitcoin.fr, there recently existed a series of proposals to present a friendlier environment to cryptocurrency firms in France, none of which were able to pass the lower house of the nation’s legislature.
The report listed several proposed amendments to the French tax code, many of which hardly seem like radical ideas. For example, Amendment 399 was apparently intended to clarify distinctions between occasional usage of crypto assets with routine transactions, without any reference to trying to take advantage of either classification. A similar amendment to defer payment of capital gains taxes until crypto assets were converted into fiat also failed.
Paraguay Backs Plan to Build World’s Largest Bitcoin Mining Farm
The Blockchain Technology Foundation, which is also referred to as the Commons Foundation, has been based in South Korea since its inception, but recently completed talks with the government of Paraguay regarding the establishment of something rather massive: the world’s largest bitcoin mining farm and crypto exchange. Many readers may be surprised to know that
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UK Regulators Plan “Comprehensive Response” to Illicit Crypto Use
Christopher Woolard of the United Kingdom (UK) Financial Conduct Authority (FCA) has indicated that UK regulators are planning a “comprehensive response” to the illicit adoption of crypto assets amid increased adoption among local businesses and consumers. Despite announcing increased regulatory action regarding illegal use of crypto, Woolard stated he does not view crypto assets as a threat to financial stability.
Also Read: Venezuela Approves Law Granting Legal Effect to the Petro
UK Regulatory Institutions Collaborate to Assess Crypto
Speaking at the Regulation of Cryptocurrencies event in London, Christopher Woolard, the executive director of strategy and competition at the FCA, stated that the regulator is planning to take significant action to crack down on the illicit use of cryptocurrencies.
Japanese Regulator Unveils Plan to Regulate Cryptocurrency Wallet Services
Japan’s top financial regulator, the Financial Services Agency, has unveiled a plan to regulate cryptocurrency wallet services. The regulator has put forward a number of regulatory measures as well as proposing how to implement them.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Plan
The Financial Services Agency (FSA) held its ninth cryptocurrency study group meeting on Monday. According to the agency’s published meeting materials, one of the main topics on the agenda was a plan to regulate crypto wallet services and their providers.
Maduro Bankrupted Venezuela — Now He’s Launching a Petro Savings Plan
The Venezuelan government has recently launched a Petro savings plan that allows the country’s citizens to put their money into the oil-backed cryptocurrency and “save by means of a certificate.” Venezuela Launches Petro Savings Plan for 18 Million Citizens According to local news outlet Telesur, the savings plan is part of the “Comprehensive National Cryptoasset
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Marshall Islands President Attacked Over National Cryptocurrency Plan
Dr. Hilda Cathy Heine, President of the Marshall Islands, is facing a political attack for her support of a planned national cryptocurrency. If the move is successful, it may dissuade other leaders from opening up to the new technology opposed by the IMF.
Also Read: Lawyer Invests $ 300 Million to Build Crypto City in the Nevada Desert
No Confidence in SOV
On Monday, eight Marshallese senators introduced a motion of no confidence against President Heine for her backing of a national digital coin. The Sovereign (SOV) was announced back in February of this year, promoted by the team behind Israeli remittances startup Neema.
Zaif Delays Customer Compensation Plan after $60 Million Crypto Theft
Tech Bureau, operator of Japanese cryptocurrency exchange Zaif, is yet to reveal a compensation strategy for customers who suffered losses from an infamous $ 60 million theft three weeks ago. Osaka-based Tech Bureau has already halted new user registrations to focus on reimbursing customers who collectively lost ¥4.5 billion ($ 40 million) from the ¥6.7 billion ($ 60
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Project Atlas: The New Plan to Integrate BitTorrent Into TRON’s Blockchain
Just months after TRON (TRX), a blockchain platform building a decentralized internet, completed the acquisition of BitTorrent, a file-sharing communications protocol based on a peer-to-peer network, new plans have been revealed to bridge the technologies. Dubbed “Project Atlas,” the new project will connect BitTorrent’s peer-to-peer network and its 100 million monthly active users to the TRON blockchain. Included in […]
SludgeFeed
One-Third of Londoners Reportedly Plan to Invest in Cryptocurrencies
Recent surveys indicate that nearly one-third of the 9 million London residents, plan to invest in cryptocurrencies, which is more than double the national average of the United Kingdom. According to a recent report by Rathbone Investment Management, 30% of Londoners plan to invest in crypto, as compared to just 13% of citizens nationwide. Additionally, one […]
SludgeFeed
Binance’s Plan To Bring FIAT To Bitcoin Options To The World
It’s hard to know which cryptocurrency exchange is ‘the biggest in the world’ but in reality, it doesn’t really matter does it? What matters, is how these exchanges plan on bringing cryptocurrency to the masses. We are still in the investment phase, people buy and sell crypto to make a profit and for the love of the industry. Once exchanges start to open up to institutional and mainstream use, cryptocurrency adoption will become a more realistic prospect, therefore we need to know now how cryptocurrency exchanges plan on bringing adoption to the fore.
IMF Doesn’t Like Marshall Islands’ Plan for (Non-USD) ‘Sovereign’ Cryptocurrency
The International Monetary Fund (IMF) has expressed misgivings about the plan to offer a national cryptocurrency by the Marshall Islands, saying that this would “increase macroeconomic and financial integrity risks, and elevate the risk of losing the last U.S. dollar correspondent banking relationship.” In February, CCN reported that the parliament of the Republic of Marshall
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Venezuelans Queue Up at Gas Stations as Maduro’s Latest Fintech Plan Falters
As Venezuelan President Nicolas Maduro starts rolling out major monetary changes, citizens have hit a snag with the new point-of-sale systems at gas pumps, according to a report from Reuters. Long lines gathered at gas stations where drivers were unable to use the payment systems to purchase gas, adding to the list of infrastructure problems caused
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72% of Cryptocurrency Investors Plan to Buy More this Year: Survey
A majority of accredited cryptocurrency investors and nearly three-fourths of retail investors plan to increase their cryptocurrency holdings in the next 12 months, a new survey suggests. That survey, conducted by securities trading platform SharesPost in July and eliciting responses from 2,490 retail investors and 528 accredited investors, found that current cryptocurrency owners remain highly-bullish
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72% of Consumers Plan to Buy More Cryptocurrency, New Survey Finds
Despite the flurry of bad news hitting cryptocurrencies, the latest SharePost’s survey reveals that consumers and investors remain optimistic. Indeed, they are considering more digital currency purchases within the next 12 months. Moreover, according to the survey, implementation of projects involving blockchain technology continues to grow.
Survey Says: A Growing Demand for Cryptocurrencies
A series of negative news stories continue to affect the crypto industry negatively. For example, the latest hit comes from a recent Goldman Sachs decision to reportedly drop its crypto trading plans due to an unclear regulatory environment. As a result, Bitcoin price 00 fell by over 5 percent on September 5.
The Owner of Bitcoin.org Has a Plan to Avoid a Bitcoin Cash Civil War
Another attempt is being made at brokering a compromise before the Bitcoin Cash Civil War culminates in a permanent blockchain split, and it’s coming from what may initially seem like an unlikely source: Cobra, the pseudonymous co-owner of Bitcointalk and Bitcoin.org. Earlier this year, Cobra — originally a critic of Bitcoin Cash — came out
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