Venezuela’s Maduro Regime Targets Cryptocurrency Remittances to Finance Itself

Venezuela’s Maduro Regime Targets Cryptocurrency Remittances to Finance Itself

According to a report published by Bloomberg back on January 31st, Venezuelans were moving to the black market to buy dollars because the officially sanctioned government exchange rate rose way above the black market rate. The same report also says that the reason behind what caused the reversal of the long-time dynamic and collapse in the supply of dollars is still uncleared. Due to the excessive fees of the official exchange, people were forced to…

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Digitec Galaxus Becomes the First Swiss Online Retailer to Accept Cryptocurrencies

Digitec Galaxus Becomes the First Swiss Online Retailer to Accept Cryptocurrencies

The biggest online retailer in Switzerland, Digitec Galaxus, has recently announced that it will now accept cryptocurrencies as a medium of exchange, according to a press release published on March 19. According to ecommerceDB, an e-commerce data platform, Digitec Galaxus was first launched in 2010, it is the world’s 100th biggest online retailer, and in 2018 had net sales of over $811 million, which seem only to increase this year. Digitec Galaxus, from now on,…

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IBM to Create Fiat-Backed Stablecoins for 6 Banks with Stellar’s XLM

IBM to Create Fiat-Backed Stablecoins for 6 Banks with Stellar’s XLM

IBM is taking its banking clients a step closer to cryptocurrency with IBM’s Stellar-powered money wiring service on which six major international banks will launch their own fiat currency-backed stablecoins. According to Jesse Lund, Vice President of IBM Blockchain and Stellar co-founder Jed McCaleb, as many as 44 international banks are using the IBM’s payment network, IBM Blockchain World Wire, and many of them have signed the letters of intent to launch their own stablecoins…

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Australia to Write a National Blockchain Roadmap; Donates AU$100,000 to Blockchain Ventures

Australia to Write a National Blockchain Roadmap; Donates AU$100,000 to Blockchain Ventures

Karen Andrews, Australia‘s Minister for Industry, Science and Technology, has recently announced through a press release that the current Australian administration – the Morrison Government – will help to boost blockchain technology by laying the required foundations to write a national blockchain roadmap and donate AU$100,000 ($71K) towards advancing its usage within the public sector. Presumably, this will help Australia becoming a “world leader” in the budding blockchain industry. According to Karen Andrews, this is…

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Yale Finance Professor: Bitcoin Is neither a Great Currency nor Good Store of Value

Yale Finance Professor: Bitcoin Is neither a Great Currency nor Good Store of Value

On March 15th, a Yale professor gave an interview in which he says that Bitcoin is not a great store of value or currency. William Goetzmann, an expert on the history of finance and director of the International Center for Finance at the Yale School of Management, a person with a long history in finance, has quite a bit to say about what he thinks of cryptocurrencies, particularly Bitcoin (BTC) as an asset that stores…

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18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

18-Year-Old Japanese Hacker Arrested for $135K Cryptocurrency Theft from Monappy

An 18-year-old Japanese boy, whose name is kept by the police because he is a minor, was handed to prosecutors over ¥15 million worth of cryptocurrency (around $135K) theft last year by taking advantage of vulnerabilities presented in the cryptocurrency wallet website Monappy. Local news outlet The Japan Times also reported that the case is one of its kind in Japan; this is the first time that criminal charges have been filed against a hacker…

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Republican Minority Leader Kevin McCarthy Urges the U.S. Government to Utilize Blockchain Technology

Republican Minority Leader Kevin McCarthy Urges the U.S. Government to Utilize Blockchain Technology

On Tuesday, March 12, Kevin McCarthy, the Republican Minority Leader in the House of Representatives, has put his thoughts on utilizing the blockchain technology to make the U.S. Congress a more effective, efficient and transparent place. Presenting his views on advancing the issue in Congress, McCarthy stated: “As technology continues to change our life, let’s make sure Congress has the same ability to do it … to make this place more effective, more efficient, and…

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Top Banking Authority: Growth of Crypto Assets Could Pose a Threat to Banks

Top Banking Authority: Growth of Crypto Assets Could Pose a Threat to Banks

The Basel Committee on Banking Supervision (BCBS), the international banking supervisory authority, has issued a warning statement on March 13th citing that the robust growth of crypto assets such as Bitcoin, Ethereum, etc. can become a potential threat to the global financial stability and banks which currently have very limited direct exposure to the cryptos. The Committee has also provided a list of minimum requirements for banks which are in the process of acquiring crypto…

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SEC Chairman Jay Clayton Clarifies that “Ethereum (and Cryptos Like It) Are Not Securities”

SEC Chairman Jay Clayton Clarifies that “Ethereum (and Cryptos Like It) Are Not Securities”

Whether to classify the cryptocurrencies such as Ethereum, Bitcoin etc. as a security token or not has become the hottest topic to debate in the world of blockchain and cryptos. A recent answer letter from the U.S. Securities and Exchanges Commission (SEC) Chairman Jay Clayton to the Washington-based crypto-focused research and advocacy center Coin Center and Congressman Ted Budd, confirms his position on the classification of digital tokens. SEC Chairman Jay Clayton corroborated that the…

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Global Real Estate Giant Emaar Group to Launch a Community Token

Global Real Estate Giant Emaar Group to Launch a Community Token

One of the world’s largest real estate development companies, Emaar Properties, is all set to launch an Ethereum-based community token by the end of this year to enhance customer loyalty and referral ecosystem of the group. Emaar Properties has a valuation of approximately US$35 billion, and is responsible for the development of the world’s tallest building Burj Khalifa and other such iconic structures. The development of the token is given in hands of the Swiss-based…

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