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What is a Wallet? Guide to storing Bitcoin

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After you receive bitcoin, you’ll need to store it in a secure digital wallet. This guide helps you understand what a wallet is and how there are different wallets to suit your needs.

A wallet is where you typically store your bitcoin after purchase, just like a physical wallet is used to keep your cash and cards.

Once you understand bitcoin and are ready to buy it, earn it or receive it as payment in exchange for goods and services, you should set up a wallet so that your counterpart has a digital address to send the bitcoin to.  Read more...

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Bitcoin-Friendly El Salvador Wants To Waive Taxes For Tech Innovation

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El Salvador wants to waive taxes to spur technology innovations after becoming the first country in the world to make Bitcoin legal tender two years ago.

Spurring Technology Innovation

President Nayib Bukele announced on Friday that he will send a bill to Congress next week to eliminate all taxes on software programming, coding, apps, artificial intelligence (AI) development, and computing and communications hardware manufacturing.

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Under A Bitcoin Standard, Legacy Institutions Will Adapt And Improve

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When bitcoin becomes the global reserve currency, central banks won’t go extinct, but they will have to evolve.

This is an opinion editorial by Jonathan Garner, a Bitcoin, finance and economics blogger at The Capital.

Legacy reserve currencies. Source.

If bitcoin were to really become a global reserve currency, that would mean that the U.S. dollar’s days would be done. What would our daily lives look like under a bitcoin standard? And what would that mean for bitcoin?  Read more...

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How Scammers Adjust Amid The Bear Season, Chainalysis Reveals

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While many believe the crypto bear market season is the time to build, scammers have always viewed it as otherwise. And according to blockchain analysis firm Chainalysis’s latest reveal, they seem to adapt too often to the state of the market, whether bear or bull season. 

In a webinar focused on crypto crimes affecting consumers and investors, Eric Jardine, the cybercrimes research lead at Chainalysis, revealed some insights addressing the adaptation of scammers as market conditions change. 

Chainalysis Reveals Scammers Blend With Every Market Situation

According to Jardine in the webinar, some scammers gave up amid the bear market; others adapted as some schemes used in this illegal activity differed from the usual style. Jardine said:  Read more...

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Crypto Industry Receives Protection With New Blockchain Regulatory Bill

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Member of the US House of Representatives and Majority Whip Tom Emmer has recently introduced a new bill to provide regulatory clarity for the blockchain and cryptocurrency industry. The bill is called the Blockchain Regulatory Act (BCRA).

According to Emmer, the purpose of this bill is to establish legal clarity for blockchain developers and service providers who do not hold or manage consumer funds. The bill proposes that these entities should not be considered money transmitters subject to “stringent” regulation. 

Additionally, the BCRA is a bipartisan bill co-led by Representative Darren Soto of Florida, supported by members of both political parties. This support increases the chances of the bill passing through Congress.  Read more...

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What is a Multisignature (MultiSig) Wallet?

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A multisig wallet is a special type of wallet for securely storing your Bitcoin. 3-5 signatures are typically required to access the stored Bitcoin.

What is a MultiSig wallet?

A multisig wallet is a wallet that provides users with extra security because it requires multiple unique signatures (hence multi-signature) to authorize and execute a transaction. A traditional — or single-sig — Bitcoin wallet contains a Bitcoin address, each with one associated private key that grants the keyholder complete control over the funds.  Read more...

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This Australian Crypto Exchange Is Considering Setting Up Base In Hong Kong

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Independent Reserve, an Australia-based crypto exchange, has been contemplating exploring opportunities in Hong Kong. The region has been in the limelight due to its all-accepting and friendly licensing regime, which has drawn crypto organizations.

Due to its liberal licensing regime, Hong Kong could make a worthy destination for a visual asset hub. Although Hong Kong has accepted the industry, there could be other factors that businesses might have to consider.

Last month, the Hong Kong Securities and Futures Commission (SFC) released a proposal encompassing the licensing regime for crypto exchanges. The proposed licensing regime is supposed to take effect in June.  Read more...

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US Treasury Report Raises Concerns About CBDC Impact on Banks And Households

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A recent study by the United States Treasury revealed that the introduction of central bank digital currency (CBDC) could potentially destabilize the banking sector while also having the potential to boost household welfare.

Before now, US lawmakers expressed dissatisfaction with developing central bank digital currencies (CBDCs). In a new bill, the board noted that the Fed has no authority to develop and issue a central bank digital currency, as it may affect the privacy protection of digital asset investors.  Read more...

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SHAmory Announces Satoshi Plush That Will Support The Built With Bitcoin Foundation

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21% of the proceeds of the sale of Satoshi will be donated to the non-profit BWB organization.

SHAmory, a Bitcoin company that produces educational materials, an educational Bitcoin company that produces STEM-authenticated books and games, has announced a new special edition African themed plush toy named “Satoshi.” 21% of the proceeds of the gross sales of Satoshi will be donated to the to the Built With Bitcoin Foundation (BWB), a non-profit organization that provides clean water, access to quality education, sustainable farming and humanitarian support, all powered by Bitcoin.   Read more...

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War On Bitcoin And Crypto: Here’s How The Industry Will

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If the US Securities and Exchange Commission’s (SEC) Wells Notice against Coinbase makes anything clear, it’s that the agency is at war with the crypto industry. Coinbase is the poster child for the American crypto industry and has always been committed to regulatory compliance and license registration – otherwise, the exchange wouldn’t have been able to get its IPO approved either.

Nevertheless, the SEC decided to send a Wells Notice to Coinbase focusing on staking and asset listings. A Wells Notice typically precedes an enforcement action, as CEO Brian Armston said.  Read more...

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White House Releases Economic Report On Bitcoin: Here’s What They Got Wrong

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The latest report from the Biden Administration writes off the benefits of Bitcoin while ignoring the fundamentals and economic activity that give it value.

The White House has released the extensive “Economic Report of the President,” which included a section titled “Digital Assets: Relearning Economic Principles.” This section detailed Bitcoin, its functionality and various “possible benefits that proponents claim for this popularity of crypto assets.” 

The proponent’s claims the report intends to address vary from crypto assets serving as investment vehicles and enabling fast digital payments, to improving the United States’ current financial technology infrastructure. The report then addresses the “Reality of Crypto Assets,” as the section is so titled, setting the record straight in the eyes of the Administration.   Read more...

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SEC Accuses Crypto Giant Justin Sun And Lindsay Lohan Of Securities Law Violation

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The US Securities and Exchange Commission (SEC) has recently announced that it has charged Justin Sun, a prominent crypto entrepreneur, and his three companies- Tron Foundation, BitTorrent, and Rainberry Inc, with allegedly conducting an unregistered sale of “crypto assets securities.” 

The SEC alleges that Sun and his companies offered and sold Tronix (TRX) and BitTorrent (BTT) tokens to the public without registering these tokens as securities, following the regulatory agency’s crackdown on the crypto industry. 

Lindsay Lohan And Celebrities Involved In SEC Case Against Crypto

In addition to the charges of unregistered offering and sale of crypto asset “securities” TRX and BTT, the SEC has also accused Justin Sun and his companies of alleged fraudulent activities related to TRX.  Read more...

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New USDT Integration Allows Telegram Users To Send Crypto In Chat

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The messaging app Telegram has added support for the stablecoin giant USDT on its wallet bot, according to a CoinDesk report. With this integration, users can now buy and sell USDT directly within the app, expanding the app’s cryptocurrency capabilities. 

This significant development makes it easier for Telegram users to manage their cryptocurrency holdings and conduct P2P transactions using USDT. With this new integration, users can now access and use the stablecoin within the Telegram app, which could increase the adoption and use of USDT.   Read more...

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Texas Senator Ted Cruz Introduces Anti-CBDC Bill

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Ted Cruz has joined a myriad of politicians in demonstrating their contempt for CBDCs in America — but what about pro-Bitcoin legislation?

Texas Governor Ted Cruz has joined a growing group of politicians who have come out in support of anti-CBDC bills, reintroducing legislation to the Senate that would prohibit a direct to consumer Federal Reserve-issued CBDC.

Recent weeks have seen several U.S. state politicians at the center of these actions. The trend was seemingly kicked off by the introduction of Congressman Tom Emmer’s “CBDC Anti-Surveillance State Act,” a bill that would prohibit the Federal Reserve from issuing a CBDC directly to anyone.  Read more...

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Nigerian CBDC eNaira Adoption Spikes Due To Cash Shortage

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Nigeria, the most populous African nation, experienced a severe cash shortage and these shortages have increased the adoption rate of its CBDC, the eNaira. 

Nigeria is the first African nation to launch a sovereign digital currency. After the launch, the project suffered a low adoption rate from the citizens. But the recent cash shortage stemming from new financial policies and cash withdrawal limits has forced citizens to utilize digital solutions.  Read more...

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CFTC Commissioner On Innovation, Commodities And Misconceptions About Bitcoin Regulation

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CFTC Commissioner Summer Mersigner discusses the inevitability of innovation and clears up the agency’s role in bitcoin regulation.

In light of recent events, many in the Bitcoin community are looking for regulatory clarity now more than ever. Questions such as “who should regulate Bitcoin?” and “will the U.S. allow Bitcoin innovation or pursue a central bank digital currency (CBDC)?” are at the top of the list.  Read more...

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United States Senator Stands Against CBDC, Here Are The Details

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In Washington, D.C., Senator Ted Cruz introduced a new bill to block the development and issuance of central bank digital currency (CBDC) in the United States.

The proposed legislation seeks to prohibit the Federal Reserve from creating its own CBDC or supporting the development of any digital currency. The idea is to preserve the privacy of crypto investors throughout the country.

Ted Cruz Introduces CBDC Bill

This is not the first time Senator Cruz has attempted to block CBDCs. He previously introduced similar legislation in 2022 but failed to gain traction in Congress. However, with the increasing interest in CBDCs from central banks worldwide, including the Federal Reserve, Senator Cruz is renewing his efforts to prevent their implementation in the U.S.  Read more...

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