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U.S. Lawmakers Draft Bill To Allow Bitcoin, Crypto In 401(k) Plans

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The bill amends ERISA of 1974 to include digital assets under “covered investments,” thereby shielding investment managers from liability.

  • Republican lawmakers drafted a bill enabling investment managers to offer bitcoin in 401(k) plans.
  • The bill seeks to remove liability for a breach of fiduciary duty for offering access to bitcoin and cryptocurrencies.
  • The bill is likely to be presented following the midterm elections in November 2022.

Three republican members of Congress presented a bill, named the Retirement Savings Modernization Act, designed to enable investment managers to offer bitcoin and cryptocurrencies in their 401(k) plans, per a Congressional filing.  Read more...

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Russia Plans To Roll-Out Its First Ever CBDC Soon

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As more expansions and innovations in cryptocurrency emerge, many nations are utilizing its unlimited possibilities hence, the development and exploration of central bank digital currency (CBDC) are increasing in several countries.

Many problems are associated with traditional banking in the global system today. These issues have spiked the need and demand for an alternative in payments and settlement of bills. The crypto industry is becoming the best option now through diverse assets.

The latest development is that Russia is planning to launch its CBDC. Anatoly Aksakov disclosed their objectives for CBDC during an interview with a Russian parliamentary newspaper. Aksakov is the head of the finance committee in the country’s lower house of parliament.  Read more...

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Singapore Amps Investigation Of Crypto Firms, Plans On Introducing New Regulations

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The Monetary Authority of Singapore (MAS) has instructed certain crypto firms to submit data concerning their business activities.

The Central Bank is supposedly going to make certain amendments to the present crypto regulation policies after the collapse of crypto-hedge fund Three Arrows Capital, Terraform Labs and even Vauld.

This change in cryptocurrency regulation will primarily help address the current liquidity crisis and also withdrawal issues.

The Monetary Authority of Singapore which is Singapore’s central bank has now sent a detailed questionnaire to some of the applicants and holders of the MAS’ Digital Payment Token Licenses as per reports.  Read more...

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English Soccer’s FA Has Launched Plans For New NFT Platform

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The English soccer organization FA has today announced plans for building a new non-fungible token (NFT) platform.

English FA To Launch NFTs Based On English Men’s And Women’s National Soccer Teams

As announced on their website, England’s FA has posted a Request for Proposal (RFP) to find a partner for a long-term non-fungible token platform.

The English FA (which stands for “Football Association”) is the main governing body of both amateur and professional soccer in England. It also happens to be the oldest such organization in the world.  Read more...

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Dubai Crown Prince Plans To Provide ‘Virtual Jobs’ To 40,000 People

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Dubai is ramping things up in the virtual stratosphere with the promise of jobs to its constituents.

In a recent strategy unveiled by Dubai’s crown prince, Sheikh Hamdan bin Mohammed, it was said that the bustling metropolis aims to create 40,000 virtual jobs and increase the number of blockchain enterprises in the region by 500 percent by 2027.

Dubai’s authorities are attempting to lead the most populous city in the United Arab Emirates into a new era as the bitcoin industry and the metaverse spread globally at an incredible rate.

In a statement, the UAE’s official news agency WAM, wrote:  Read more...

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Palestine Plans Digital Currency to End Israel Shekel Dependency

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Months after Palestine’s current government was sworn in, the prime minister has revealed plans to develop a cryptocurrency meant to reduce dependence on Israel. According to the Anadolu Agency, Palestinian Prime Minister Mohammad Shtayyeh stated that the digital currency will assist the territory to overcome the challenges currently being experienced as a result of the […]

The post Palestine Plans Digital Currency to End Israel Shekel Dependency appeared first on CCN Markets

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Binance Plans to Burn Its Team’s Entire Supply of Binance Coin (BNB)

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Binance, the world’s largest crypto exchange, continues to prioritize the price growth of its exchange token, Binance Coin (BNB). 8th #Binance Coin Burn: From the Team $ BNB Allocationhttps://t.co/gJrEj4axyc pic.twitter.com/9YfsF5HQP2 — Binance (@binance) July 12, 2019 According to a recent blog post, Binance plans to relinquish the BNB tokens allocated to its core team, which currently […]
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City of Dublin Ohio Plans to Launch Bitcoin Cash-Based SLP Token

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City of Dublin Ohio Plans to Launch Bitcoin Cash-Based SLP Token

On July 1, Joshua Green, CEO of the Bitcoin Cash (BCH) implementation Bitcoin Verde, told the BCH community that the local government from Dublin, Ohio plans to mint a token using the Simple Ledger Protocol (SLP). The unnamed SLP token will be used for city events, redeemed for city-branded swag, discounts, and can be given to volunteers who help Dublin prosper.

Also Read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque  Read more...

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IRS Plans to Issue Guidance on Virtual Currency Taxation

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Internal Revenue Service (IRS) commissioner Charles Rettig has explained to U.S. representatives that the tax department plans to issue clearer guidance toward cryptocurrency taxation soon. Since 2014, Americans have been asking the tax agency for better clarification in regard to official tax guidelines.

Also read: Last Will Platform Allows Your Loved Ones to Inherit Your BCH  Read more...

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Following Hack, Binance Plans System Upgrade

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Binance News Bit

Popular cryptocurrency exchange Binance will be conducting a system upgrade on May 15, 2019, in the wake of a $ 40 million hack.

Per an announcement that was published on the exchange’s blog, the scheduled system update will affect all transactions on the platform for about 6 to 8 hours. However, it also noted that the time needed for this upgrade to complete might vary.  Read more...

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Poloniex Plans to Add Staking for Cosmos (ATOM) This Summer

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Circle’s cryptocurrency exchange subsidiary, Poloniex, announced on Wednesday that it is planning to support staking for Cosmos (ATOM). Cosmos leverages a delegated proof of stake (DPoS) consensus system, which currently yields around 13% annually for stakers. Poloniex announces staking rewards for @cosmos $ ATOM. Coming soon – eligible exchange customers to automatically earn staking rewards. Learn […]
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WeChat Plans to Stop Merchants From Transacting in Cryptocurrencies

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WeChat

WeChat, the #1 messaging app in China, is also widely used for cryptocurrency transactions. Recently, WeChat Payment has revised the “WeChat Agreement for Payment Service,” which involves the control and regulation of illegal transactions, including cryptocurrency transactions. The revised agreement will be put into effect on May 31, 2019.  Read more...

This is a preview of WeChat Plans to Stop Merchants From Transacting in Cryptocurrencies. Click Here To Read the full post

Bitfinex Plans to Raise $1 Billion With an Exchange Token Offering

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iFinex, the owner of Hong Kong-based cryptocurrency exchange Bitfinex, is reportedly planning to raise $ 1 billion worth of Tether (USDT) through an initial exchange offering (IEO) for a new exchange token called LEO. According to a recent report by The Block, which cites Bitfinex shareholder Zhao Dong, Bitfinex has already had over $ 600 million in […]
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Ocean Protocol Plans Bittrex IEO After CoinList Offering Fails to Meet Goal

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Ocean Protocol, a decentralized data exchange protocol to unlock data for AI, is now planning to raise funding via an initial exchange offering of Ocean Tokens (OCEAN) on Bittrex International following its failed attempt to meet its fundraising goal on CoinList. We are delighted to announce that @BittrexIntl will be conducting an Initial Exchange Offering […]
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BSV Falls 13% After Binance Reveals Plans to Delist the Coin

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BSV Price Drops 13% After Binance Announces Plans to Delist the Coin

On April 15, Binance announced that the trading platform will be delisting bitcoin SV (BSV). The removal follows the tendentious actions of Craig Wright over the last few weeks in which the BSV creator has sent libel lawsuit warnings to well-known digital currency proponents. Since the announced delisting, the price of BSV has fallen by more than 13%.

Also read: Bitcoiners’ Seastead in Deep Trouble With Thai Government  Read more...

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Finland’s Regulatory Watchdog Plans to Supervise Localbitcoins Operations

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Finland's Regulatory Watchdog Plans to Supervise Localbitcoins Operations

On Monday, the Helsinki-based peer-to-peer crypto exchange Localbitcoins announced it is adding several different identification processes in order to improve AML and KYC requirements. The move to bolster the new customer verification procedure follows Finland’s Financial Supervisory Authority (FSA) mandating supervision over exchange operations.

Also read: Mineable Cryptocurrencies Are Far More Valuable Than Non-Mineable Coins  Read more...

This is a preview of Finland’s Regulatory Watchdog Plans to Supervise Localbitcoins Operations. Click Here To Read the full post

Brunch Staking Pool Plans to Support Cardano (ADA) Development via Higher Fees

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Earlier this month, Brunch Pool announced that it plans to offer investors the opportunity to join likeminded stakers who want to help build the Cardano (ADA) ecosystem by paying a percentage of staking rewards to the foundation driving its development. Introducing Brunch Pool.https://t.co/6cfsnwmEdW — Brunch Pool | Cardano Stake Pool (@brunchpool) March 9, 2019 Cardano leverages […]
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Loom Network (LOOM) Plans to Integrate TRON and EOS Into PlasmaChain

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Last week, Loom Network (LOOM), a blockchain ecosystem for games and social apps, announced support for the top-100 ERC-20 tokens by market cap, including Binance Coin (BNB), on PlasmaChain, a high-performance DPoS sidechain that acts as a bridge between multiple chains and Ethereum (ETH). On Wednesday, Loom Network kept the good news rolling with the revelation that […]
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