The recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner, JP Morgan’s asset management arm, and the operator, Mediterranean Shipping Company, paid a $ 50M in cash and surety bond, the stain remains and this is not the only stain. Money laundering for drug cartels and moving funds for terrorists, arms dealers and dictatorial regimes are among the sins banks have accumulated through the years. However, court settlements and billions of dollars in fines often help major financial institutions avoid prosecution, conviction, and labels like ‘Drugbanks.’
Bitcoin and Voluntaryism – Where Libertarian Philosophy Meets Crypto
For the uninitiated, voluntaryism is a philosophy based on consent. In the simplest terms it says: “If it’s not voluntary, it’s not moral.” This basic statement is often countered with “Yes, but not everyone agrees on that, some people use violence to get what they want.” This is 100% true. And this is why voluntaryists are not pacifists, but believe in and support self-defense. Self-defense as per voluntaryism is defined as protecting one’s property, which begins with the self. As such, the philosophy and its adherents have taken a remarkable interest in bitcoin, thanks to the non-violent nature of peer-to-peer, decentralized currency.
Ignore Crypto Twitter – Life as a Nocoiner Isn’t That Bad
Crypto Twitter (CT) is filled with half-witted commentary and price predictions by so-called luminaries, maximalists, and influencers. As the price of BTC has dropped to four figures, the usual tweets from CT thought leaders has insisted that this is the last chance to buy bitcoin for under $ 10,000.
Also read: Bitcoin Cash Update: Multi-Party Escrow, Vitalik Suggests BCH as Data Layer for ETH
PR: Liechtenstein Financial Market Authority Approves Tokenized Real Estate Investment Product
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
CROWDLITOKEN AG pioneers and starts distribution of a digital bond – European retail investors benefit as well
SEC Begins Green-Lighting Token Offerings
The U.S. Securities and Exchange Commission recently made history when it green-lighted two token offerings under Regulation A+. “This is the first time in U.S. history that a crypto token offering has received SEC qualification,” one of the two qualified issuers proclaims.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Historic Event for Crypto Industry
The U.S. Securities and Exchange Commission (SEC) began qualifying token offerings under Regulation A+ (Reg A+) last week. The application by Blockstack PBC was approved on July 10 for Stacks tokens. The other application was approved the following day for Props tokens by Younow, a live streaming app which claims to have 46 million users.
PR: Bitcoin.com Wallet Joins Blockchain Consortium FIO
Popular BCH and BTC wallet joins Foundation for Interwallet Operability (FIO) to improve crypto usability across blockchains
DENVER, CO — 16 July 2019: Bitcoin.com wallet, the official wallet of Bitcoin.com, has joined the Foundation for Interwallet Operability (FIO) in a move that will assist the wave of new users who are expected to join cryptocurrency markets as a result of June’s recent coin and token price increase.
As the newest member of the FIO, Bitcoin.com wallet joins a consortium of 23 other leading companies in the crypto ecosystem, including Binance’s Trust Wallet, BRD Wallet, ShapeShift, MyCrypto, Edge Wallet and Coinomi Wallet.
Global Crypto War Is Heating up – Iran Next in Line With Its Own Gold-Backed Coin
Control of the U.S. dollar and the global financial system that depends on it gives the American government an incredibly powerful tool in shaping international affairs. As such, it is not surprising that its geopolitical rivals around the world will try to exploit the invention of cryptocurrency to take the USD down a peg. The latest example comes from Iran that now wants to create a digital token backed by gold.
Also Read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque
How to Create and Airdrop Your Own Token to Your Friends
Roughly a year ago, the Simple Ledger Protocol (SLP) debuted on the Bitcoin Cash (BCH) network, giving anyone the ability to mint, store, receive, and send SLP tokens. Since then there’s been a ton of tokens created on the BCH network as the simplicity of the system outpaces tokens built on alternative chains like ERC20s and sending the tokens is far cheaper than most networks as well. The following walkthrough describes how to create SLP tokens and airdrop them to your friends and family in a short space of time.
Also read: Bitcoin Cash Update: Multi-Party Escrow, Vitalik Suggests BCH as Data Layer for ETH
Spain Thwarts Bitcoin ATM Scam, Prompting Regulatory Debate Worldwide
Bitcoin ATMs are not currently governed by EU money laundering regulations, and arrests coordinated by Spanish police and Europol in May are bringing new focus to this loophole. A group of eight Spanish and Latin American individuals have been arrested, along with several of their associates, for using crypto ATMs to fund drug traffickers in Columbia. While large cryptocurrency exchanges worldwide are subject to increasing oversight and regulation, bitcoin ATMs often fall in legal gray areas, prompting debate amongst regulators and crypto users alike.
Also read: Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Bitcoin Cash Multi-Party Escrow, Retail Adoption, and Upgrade Discussions
Another week has passed for the Bitcoin Cash (BCH) community and as usual, there’s been a bunch of announcements and developments. BCH supporters this week saw the release of a multi-party onchain escrow system, Ethereum cofounder Vitalik Buterin discussed using the BCH chain as a data layer, and more BCH-accepting merchants were onboarded.
Also Read: Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Diamonds and the Treasury Debt Ceiling: Why Nothing Has ‘Intrinsic Value’ in Economics
The U.S. Treasury Department has just issued an urgent letter requesting a lift on the debt ceiling, warning Congress of imminent financial collision in September as federal cash is running out. Though this scenario has played out many times before, it takes on special significance now in light of president Trump’s recent comments about bitcoin, saying it was created from “thin air,” and a congressional warning to Facebook regarding their Libra project. After all, to raise the debt ceiling and keep paying bills with borrowed USD is creating value out of thin air as well. Intrinsic value is nowhere to be found here. Not surprising when it comes to fiat perhaps, but diamonds and gold don’t make the cut, either.
PR: Cred and Bitcoin.com Join Forces to Boost Crypto Lending
By John Yearwood
Cred Correspondent
Amid a dramatic Bitcoin bull run, two of the most influential names in the blockchain finance industry have launched a platform to expand global lending and earning on investments in cryptocurrency.
The partnership between Bitcoin.com and Cred allows Bitcoin.com customers to earn up to 10 percent interest on Bitcoin and six percent on Bitcoin Cash invested with Cred, the companies said.
Customers with investments over $ 25,000 have been benefiting from the partnership for the last few months but it opens to all users, regardless of investment size, on July 15, 2019.
Bitcoin Cash Merchant Adoption Grows and Exchange Supports BCH in the Weekly Video Update
Businesses around the world continue to adopt bitcoin cash as a payment method and an exchange adds support for trading BCH. Watch these and other developments discussed in this week’s video update hosted by Roger Ver on Bitcoin.com’s Youtube channel.
Also Read: Win 2019 Rugby World Cup Tickets When You Play at Games.Bitcoin.com
Bitcoin Cash Adoption Grows Around the World
In the weekly video update, Bitcoin.com CEO Roger Ver talks about some of the work that is happening to onboard new merchants to BCH around the world, from Venezuela to Japan. He also discusses technological developments happening in the Bitcoin Cash ecosystem and planned celebrations for the August 1 anniversary. Plus, watch the video to the end to see Roger’s response to U.S. President Donald Trump’s crypto tweetstorm.
How US ‘Keep Big Tech Out of Finance’ Draft Bill Targets Facebook’s Libra
Facebook’s digital currency plans have caused concern among bureaucrats worldwide and members of the U.S. government seem fearful of a giant tech establishing itself as a financial institution. Prior to the U.S. congressional hearings and the upcoming G7 finance meeting, a U.S. discussion draft bill, the Keep Big Tech Out of Finance Act, hopes to stop large tech corporations from “maintaining, or operating a digital asset.”
Also read: How 10 Countries Respond to Facebook’s Libra Cryptocurrency
PR: Matrix Exchange Receives Approval From Abu Dhabi Global Market
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Abu Dhabi-based crypto asset exchange, Matrix Exchange announced on July 12 that it has received an In-Principle Approval (IPA) from by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to operate as a crypto asset exchange and custodian in ADGM.
Binance Adds Margin as Exchange Competition Heats Up
This week, the world’s largest exchange by trading volume, Binance, launched margin trading. In doing so, it made the elite group of exchanges that offer crypto derivatives less exclusive than it once was. Binance, Kucoin, and Bitmax have all rolled out margin products this year, in a bid to give market leaders Bitmex and Deribit a run for their money.
Also read: Miners Flock to Iran Where Bitcoin Mining Is Set to Be Sanctioned
Panda Group’s Crypto Terminals Offer Venezuelans a Bridge to Economic Prosperity
Arley Lozano, founder of the cryptocurrency based startup Panda Group, recently explained how his firm is spreading cryptocurrency adoption throughout Colombia and Venezuela. Panda Group has deployed 10 hybrid cryptocurrency point-of-sale (PoS) terminals that also act as automated teller machines (ATM). Four of the machines are situated near the border of Venezuela, giving refugees from the country and Colombian citizens access to cryptocurrencies like BCH, DAI, and BTC.
Also read: South African Payment Gateway Drops BTC Over Fees and Network Congestion
South African Payment Gateway Drops BTC Over Fees and Network Congestion
On July 12, South African payment gateway service Payfast announced the company is dropping bitcoin core (BTC) payments due to network congestion and high fees. Payfast emphasized that BTC has a number of limitations and design flaws which makes it an “impractical substitute for cash.”
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Thailand Approves 4 New Cryptocurrency Service Providers
The Thai Securities and Exchange Commission has approved four new crypto business operators to legally operate in the country. In addition to licensing a new crypto exchange, the government has officially approved the country’s first three digital token portals. Meanwhile, new rules, conditions, and procedures have been introduced for digital asset businesses.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Miners Flock to Iran Where Bitcoin Mining Is Set to Be Sanctioned
According to regional reports, the Central Bank of Iran (CBI) is planning to allow licensed cryptocurrency mining as long as operations are charged for electricity based on the price of export. The CBI governor, Abdol Nasser Hemmati, explained that mined cryptocurrencies should flow back into the Iranian economy.
Also read: Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power