Satoshi Nakamoto developed BTC to function as a decentralized substitute for the existing centralized financial system. However, the CEO of FTX, Sam Bankman-Fried, stated that he does not believe Bitcoin will ever become a viable payments network. Sam Bankman-Fried States Bitcoin Is Inefficient And Can’t Be Used On Large Scale In an interview with Financial … Read more
BTC is enjoying a dead cat bounce following its worst drop of the year. Bitcoin is currently trading at $30.5K, up from this week’s low of $25.3K. It has dropped drastically from its ATH of about $70K. So, how long will this recovery last? BTC’s Comeback The Bitcoin price has risen as speculators hurry to … Read more
In a recent announcement, the German Ministry of Finance said that private persons would not be required to pay tax when selling Bitcoin or Ethereum if they have owned either asset for more than one year. The rules regarding cryptocurrencies have undergone specific revisions thanks to the work of the German Ministry of Finance. The … Read more
Republicans Slowing Down Legislation On Stablecoin The Senate Banking Committee is now debating how to respond to the administration’s demand for stablecoin regulation; nevertheless, there is a significant party division about this issue. The Democrats on the Senate Banking Committee are concerned their Republican counterparts do not give the potential dangers posed by cryptocurrencies the … Read more
After disapproval over the adoption of Bitcoin as a legal tender by the Central African Republic, the IMF (International Monetary Fund) has shifted its focus to the CBDC of the Bahamas, the Sand Dollar. The agency has recommended that the country’s regulators conduct more supervision and provide more education for citizens. Apart from proposing that … Read more
South Korea’s democratically elected President has shown his understanding of cryptocurrency. The President has announced that there would be no imposed tax on cryptocurrency investment profits until laws can be put in place to safeguard consumers. President Yoon Delays Implementation of Cryptocurrency Taxation In a Tuesday announcement, South Korea’s President, Yoon Suk-yeol, said that he … Read more
South Korea’s new government, led by Yoon Suk-yeol, is moving quickly to implement key changes in the nation’s crypto industry. These changes will allow for the reintroduction of ICOs, which were abolished in 2017 due to the high incidence of fraud. A New Crypto Asset Framework For North Korea The new President’s Transition Committee is … Read more
After an unsuccessful wedge breakout, the price of Bitcoin have plummeted after it crossed the $40k mark initially. BTC has broken through the $37,800 support region. The next nearest support area is located at a trading price of $34,700. Bitcoin Falls Below The $40k Mark On the 4th of May, a falling wedge pattern was … Read more
The legislative arm in Hawaii has taken the bold step to regulate the usage of cryptocurrency and incorporate blockchain technology in the country. Two committees in the country’s legislative arm, Ways and Means (WAM) and Commerce and Consumer Protection (CPN), have unanimously supported the creation of a special task force that will investigate the regulation … Read more
The Dubai companies that accept Bitcoin are growing, with Damac being the most recent example. The latest news has disclosed that Damac Properties, a famous real estate firm in Dubai, would start accepting Bitcoin payments for its properties. Invest In Real Estate Using BTC and ETH Following the publication of a report in the Khaleej … Read more
