Category: Digital Currency
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84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan
The People’s Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank’s plans which include integrating digital currency wallets into existing retail bank accounts. The potential for the Chinese central bank digital currency to achieve scale from the get-go has put…
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US Worried Crypto Could Undermine Dollar as World Reserve Currency, Hiring Researchers to Prepare Response
The U.S. Office of the Director of National Intelligence has admitted that cryptocurrency could undermine the U.S. dollar as the world’s reserve currency. The head of the U.S. Intelligence Community is seeking researchers to detail the impact of that status loss on the U.S., its economy, and national security. Also read: Fed Chair Powell Reveals…
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India’s Election Commission Developing Blockchain System for Voting
The Election Commission of India is collaborating with the Indian Institute of Technology to develop a blockchain system for voting, the Chief Election Commissioner has reportedly revealed. The new system aims to allow Indians to vote even when they are away from their hometowns. Furthermore, the commissioner has proposed to link voter IDs with Aadhaar.…
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Tradeblock Estimates Post-Halving Mining Cost of $12,500 per BTC
On February 7, the blockchain analytics provider Tradeblock published a report about the upcoming BTC reward halving. BTC’s block reward is expected to halve on or around May 12, 2020, and Tradeblock’s report estimates that the cost to mine BTC will be over $12,500 after the halving. Also Read: The Controversial S2F Model Predicts Bitcoin…
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Treasury Secretary Mnuchin Gives Testimony on Cryptocurrency, New Regulations Rolling Out Soon
U.S. Treasury Secretary Steven Mnuchin gave his testimony on cryptocurrency before the Senate Finance Committee on Wednesday. Mnuchin said crypto is a “crucial area” that the Treasury has spent a lot of time on. He also talked about stablecoins and announced that new crypto regulations focusing on transparency will be rolled out soon. Also read:…
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Coinbase Margin Trading Now Live for Coinbase Pro Users
Coinbase has launched margin trading for users of its cryptocurrency trading platform, Coinbase Pro. Both individual and institutional investors in selected regions now have access to Coinbase margin trading. The company plans to expand access to more regions and provide more types of collateral assets. Also read: Bitcoin, Tesla Stock, Tron: How Warren Buffett Got…
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Trump Views Crypto a Threat, Proposes Countermeasures in New Budget
The White House released the Budget of the U.S. Government on Monday, outlining some proposals to increase cryptocurrency oversight which President Donald Trump views as priorities. The budget proposes giving the Treasury more power over crypto and requests funding for FinCEN to expand its efforts to combat threats including from cryptocurrency. Also read: Bitcoin, Tesla…
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40 Banks in Germany Declare Intent to Offer Crypto Services Under New Law
More than 40 financial institutions in Germany have reportedly declared to the country’s financial regulator, BaFin, their interest to offer cryptocurrency services under the new German law. News.Bitcoin.com reached out to the regulator for some more information. The law, which went into effect early this year, enables banks to offer crypto services after obtaining a…
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312 Crypto Exchanges Registered in Australia, Regulator Confirms
A growing number of cryptocurrency exchanges have been registered with Australia’s crypto regulator. A spokesperson for the government agency overseeing the crypto industry confirmed to news.Bitcoin.com on Monday that the regulator has already registered 312 crypto exchanges. Also read: Bitcoin, Tesla Stock, Tron: How Warren Buffett Got His First Bitcoin 312 Registered Crypto Exchanges The…
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”Decentralized Networks a Powerful Phenomenon” – Why the SEC Commissioner Proposes Time-Limited Grace Period for Tokens
U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has formally proposed a grace period of three years for tokens. Project developers would be exempt from the federal securities laws during that time, provided that they meet certain conditions. After that, they must determine whether their token transactions involve the offer or sale of a…