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Brazil And Argentina Don’t Need A Common Currency, They Need Bitcoin

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Brazil and Argentina are considering a common trading currency, but that would just perpetuate the economic problems that Bitcoin could solve.

This is an opinion editorial by Jack Williams, an undergraduate business administration student and Bitcoin HODLer.

Brazil and Argentina have faced off against each other on numerous fronts, namely World Cup Qualifiers and Copa América epics. So, as an avid soccer (‘Murica) fan, I found this Mises.org article by Marcos Falcone a little strange at first because it suggested that these two rivals might come together to establish a common currency. But, considering the two nation’s standings in the global economy, the idea makes sense.  Read more...

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CBDC Rises In The Emirates: Why The UAE Central Bank Is Interested In Issuing A Digital Currency

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In recent months, initiatives surrounding central bank digital currencies,  (CBDC) have gained traction as banking authorities attempt to streamline cross-border transactions and stimulate innovation in the payments industry.

Regulators in Asia, Europe, and South America are becoming more interested in implementing virtual currencies issued by their respective governments.

In the Gulf area, the Central Bank of the United Arab Emirates is looking to launch a digital currency for both domestic and international use.

The issuance of a digital version of the Emirates’ national currency, , is part of the program’s initial phase of financial infrastructure transformation (FIT). The central bank has in the pipeline nine initiatives for its CBDC.  Read more...

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Digital Currency Group And Genesis Reach Restructuring Agreement With Creditors

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The plan would see the sale of Genesis alongside other measures in a deal reached with DCG and Gemini Trust Co.

Genesis, a subsidiary of Digital Currency Group, has reached a restructuring agreement with key creditors according to statements by Cleary Gottlieb attorney Sean O’Neal, representing Genesis. It would see the sale of Genesis Global Trading, amongst other moves designed to “maximize the recoveries to the estate.”

Also included in the deal will be restructurings of the debt that Digital Currency Group, who owns Genesis and its entities, owes to Genesis Holdco, which was one of the legal entities that previously filed for Chapter 11 protection. These terms include a second lien term loan facility with a maturation date of June 2024.  Read more...

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Bitcoin As Legal Tender: Arizona Senator Pushes Bill To Make Crypto Legal Form Of Currency

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In the past year, bitcoin’s price has declined by about 60% from its all-time high. This has diminished the excitement surrounding the alpha coin, but not entirely.

There are still many who have faith in the cryptocurrency’s future. One of them is Arizona state Sen. Wendy Rogers.

Rogers, a Republican, has presented legislation that would make bitcoin legal currency in Arizona and allow state agencies to accept it.

The law proposed on Wednesday would, if passed, make Arizona the first state in the United States to recognize bitcoin as a legal form of currency.  Read more...

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21Shares Introduces Digital Currency Staking ETP On BX Swiss Exchange

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21Shares recently announced its operation on the local stock exchange known as BX Swiss. This event recently occurred as the company released a digital currency staking index that primarily tracks about 10 Proof-of-Stake (PoS) cryptocurrencies.

Primarily, 21Shares specializes in creating and managing exchange-traded products (ETPs) that track the value of various cryptocurrencies. A few examples are Bitcoin and Ethereum. The company provides investors with an easy and convenient way to invest in cryptocurrencies through traditional financial markets.

Some of its activities include creating and listing ETPs on stock exchanges, managing their underlying assets, and providing investors with market data and other information.  Read more...

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First Mover Americas: Crypto Winter Chills at Digital Currency Group, Coinbase

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The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 18, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
CoinDesk

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First Mover Americas: Legal Troubles Brewing at Digital Currency Group

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The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 3, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
CoinDesk

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How This Coinbase Feature Could Make USDC A Universal Currency

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Crypto exchange Coinbase wants to boost the adoption of stablecoin USDC. The company will support free trading commissions for users buying the digital asset. According to an official announcement, the new feature is available for any fiat currency on the crypto exchange from “AUD to ZAR.” 

In 2018, Coinbase and U.S.-based fintech Circle partnered to create the Centre Consortium, the company behind the development of USDC. In the United States, the digital asset has seen good levels of adoption, with its market cap growing 150x over the past three years, as seen in the chart below. 

Source: Coinbase  Read more...

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UK Crypto Boom – Over 50% Of Top British Banks Facilitate Digital Currency Transactions

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Crypto assets are enjoying the lenient stance that the United Kingdom government is maintaining regarding ownership, usage and trading of digital currency assets.

Unlike countries such as Algeria, Bangladesh, Bolivia, Egypt, Indonesia and Ghana where virtual currency is banned, the UK left its doors open for the highly volatile asset class.

The study results are timely, since the UK is currently working to craft a crypto regulatory environment with the goal of turning the country into a digital asset hotspot.

Most importantly, the country has seen a rise in the number of investors who have entered the market through cryptocurrency exchanges.  Read more...

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What Happens If The U.S. Dollar Loses Reserve Currency Status?

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The CEO of Relai brings up some important considerations for the possibility that the U.S. dollar fails to maintain its status of world reserve currency.

This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Julian Liniger to talk about fundamentals of Bitcoin and why bitcoin is seeing massive adoption in Europe even during the bear market.

Watch This Episode On YouTube Or Rumble

Listen To The Episode Here:  Read more...

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Energy, Currency And Deglobalization Warning Signs

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This analysis of the changing world order, its impacts on the global economy, and the future of central bank monetary policy is the first in a two-part series.

The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

This Bitcoin Magazine Pro article is the first in a two-part series on the changing world order, its impacts on the global economy, and the future of central bank monetary policy. To conclude, we will elaborate on how bitcoin might tie into the world which we are transitioning towards.  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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Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

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Georgia Exempts Bitcoin From VAT to Become the Next Country Affirming Its Currency Status

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  Read more...

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‘Zimdollar’ Reboot: Bitcoin Fills Liquidity Gaps as New Zimbabwe Currency Flounders

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'Zimdollar' Reboot: Bitcoin Fills Liquidity Gaps as New Zimbabwe Currency Flounders

P2P bitcoin trade is surging in Zimbabwe via mobile exchange platforms like Ecocash, despite recent government efforts to curb the use of competing currencies locally. As of June 24, the reinstated Zimbabwe dollar (formerly RTGS dollar) is now the only recognized currency in the economically embattled southern African country. Finance minister Mthuli Ncube sees the move as a way to pull in the reins on re-dollarization, and implement greater controls and stability. Others see the new currency as a disastrous decision paving the way for continued hyperinflation.

Also read: The Cryptocurrency Projects Pursuing a Path to Decentralization  Read more...

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Kevin O’Leary & Jeremy Allaire Clash Over ‘Rogue Currency’ Bitcoin

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If you though the Nouriel Roubini/Arthur Hayes debate was heated, you haven’t seen anything yet. Shark Tank’s Kevin O’Leary and Circle CEO Jeremy Allaire faced off on bitcoin during a CNBC segment, and fortunately, it wasn’t an in-studio discussion or things could have turned ugly. O’Leary, who has earned the nickname Mr. Wonderful, came out […]

The post Kevin O’Leary & Jeremy Allaire Clash Over ‘Rogue Currency’ Bitcoin appeared first on CCN Markets

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Africa’s Interest in Bitcoin Remains High as 15 States Plan to Adopt the ‘Eco’ Currency

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Africa's Interest in Bitcoin Remains High While 15 States Plan to Adopt the 'Eco' Currency

By 2020, a large group of West African countries plan to adopt a single fiat currency called the eco. After a meeting in Abuja held on June 29 between the 15 member-country regional bloc, the implementation of a new single currency, after debating the monetary unit for years, was agreed. Despite the eco discussion and economic uncertainty within the massive continent, Africans still have a deep interest in digital currencies.

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

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West African Nations Unveil a New Single Currency Without Blockchain

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In a potentially risky move, the 15 member nations of ECOWAS – Economic Community of West African States –  have agreed to launch Eco, a “common currency” similar to the method the EU uses. Eco is expected to make its debut in January 2020. In an attempt to create more frictionless trade, West African leaders […]

The post West African Nations Unveil a New Single Currency Without Blockchain appeared first on CCN Markets

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8 Irate Quotes From Officials Who Hate Facebook’s Digital Currency

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8 Irate Quotes From Officials Who Feel Threatened by Facebook’s Digital Currency

The best thing about Facebook’s proposed digital currency isn’t its BTF consensus algorithm, account-based data model or single Merkle tree structure. No, the greatest thing about Libra has to be the triggered reactions from politicians and bankers who can sense the rug being pulled from under their feet, threatening their hegemony and upending their world view. Here are eight memorable quotes from incensed officials.

Also read: Market Rebound Boosts Adoption of Cryptocurrencies for Payments

Project Libra Has the Elite up in Arms

“Big tech in finance: opportunities and risks,” a report by the Bank for International Settlements (BIS):  Read more...

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ADF Group Endorses Apollo Currency as ‘Only and Obvious Choice’ to 54 African Nations

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International Investment Company Advances Cryptocurrency Adoption Across Africa JOHANNESBURG, June 13, 2019-  Today Apollo Currency​ announces a historic partnership with African Development Funding Group (ADF Group) to encourage the use and adoption of cryptocurrency at a national level across the continent of Africa. The ADF Group works directly with 54 African Nations at the presidential and ministerial level to provide funding and sustainable development on a range of commercial and non-profit ventures. In addition, the ADF Group offers a comprehensive suite of financial consulting services to governments, specializing in wealth management, infrastructure projects, and more. The ADF Group originated as an investment company focused on Africa,  Read more...

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Markets Update: Digital Currency Economy Surpasses $300 Billion

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Digital currency prices have spiked considerably in the last 24 hours and bitcoin core (BTC) stopped short about $ 70 in an attempt to cross the $ 10K price zone. Most cryptocurrencies are up between 2-8% on Friday, June 21 and the entire cryptoconomy surpassed $ 300 billion.

Also read: These Are 2019’s Biggest Cryptocurrency Winners and Losers so Far  Read more...

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