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Three suspects have been detained by Chinese police in connection with an alleged cryptocurrency theft. The supposed hackers stole bitcoin and other digital assets worth an estimated $87 million USD. Authorities say this is the biggest heist of this type in the People’s Republic so far. Also read: South African Tax Authority Going After Crypto … Read more
Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. … Read more
The Indian government previously planned to submit the proposal for crypto regulations in July. However, a senior official has revealed that the regulatory framework for cryptocurrencies in India has been delayed and will likely be ready by the year’s end. Meanwhile, the government is reportedly considering “launching crypto tokens for financial transactions.” Also read: Yahoo! Japan … Read more
The Satoshi Revolution: A Revolution of Rising Expectations. Section 4: State Versus Society Chapter 9, Part 6 Government is a law factory. It passes laws in the same manner that another type of factory extrudes metal molding…But, whereas a factory which extrudes metal molding is providing a product which is useful to the citizens generally, … Read more
In recent news regarding bitcoin exchanges, Dcex has launched a peer-to-peer cryptocurrency exchange that will use XRP as its base currency, ESMA regulated exchange, Blocktrade, has opened for beta testing, and Coinfield has announced a partnership with fee-free trading app Moongo. Also Read:Banks Don’t Really Want to Use ‘Blockchain’ for FX Settlement After All Dcex … Read more
A new Venezuelan fiat currency, ‘anchored’ to the nation’s crypto, the Petro, is expected to start circulating in the second half of August. The news was announced by president Maduro himself, along with other measures intended to improve the economic situation in the country. The ‘Sovereign Bolivar’ will have less zeros than the inflated ‘Strong … Read more
Bitcoin trading in renminbi (RMB) has dropped to less than 1 percent of the global total, the central bank of China announced. The People’s Republic banned yuan-crypto trade last year, prompting the exodus of hundreds of Chinese crypto businesses, including some of the world’s leading trading platforms. Also read: Crypto Exchange Binance Expects up … Read more
The former chair of the United States Federal Deposit Insurance Corporation, Sheila Bair, recently published an article imploring the U.S. Federal Reserve to explore central bank-issued digital currencies (CBDCs). In the article, Mrs. Bair argues that the development of a state-issued cryptocurrency could “reduc[e] the risk of financial crises” and “improv[e] monetary policy tools.” Also … Read more
Circle Internet Financial Ltd has revealed that it is currently seeking to obtain a federal banking license with the U.S. Office of the Comptroller of the Currency (OCC) in order to expand the services available to the company’s customers. It also hopes to pursue registration with the U.S. Securities and Exchange Commission (SEC) as a … Read more
Agnes Water, a beach town situated five hours north of Brisbane International Airport, has proclaimed itself to be the first “digital currency-friendly” tourist town in Australia. Over 30 businesses now accept cryptocurrency as a form of payment in Agnes Water – despite being home to just over two thousand residents. Also Read: Markets Update: Digital Currency … Read more
