Ethereum Completes Istanbul Hard Fork: Aiming for 3K Transactions Per Second

Ethereum Completes Istanbul Hard Fork: Aiming for 3K Transactions Per Second

A big congratulations to the Ethereum (ETH)trade community and the global crypto industry at large. The long expected Ethereum’s hard fork tagged ‘Istanbul’ is finally here and over. Okay, not entirely over as two other networks are expected to go live in the first quarter of 2020. Notwithstanding, the just-concluded upgrade of the second-largest cryptocurrency (by market capitalization) was a total success and it poses great hope for the future of crypto. The hard fork,…

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Deutsche Bank Predicts Switch from Fiat to Crypto in the Next Decade

Deutsche Bank Predicts Switch from Fiat to Crypto in the Next Decade

In a pretty lengthy yet enlightening research dubbed ‘Imagine 2030 – The Decade Ahead,’ a research team of Deutsche Bank predicts the imminent doom of fiat currencies as crypto takes over if the current trend is left unchecked. Jim Reid, the strategist behind this forecast took his time to point out some of the shortcomings – or ‘forces’ as he put it – that may eventually lead to the end of traditional fiat currency in…

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South Korea Plans Imposing Capital Gain Tax of Cryptocurrencies

South Korea Plans Imposing Capital Gain Tax of Cryptocurrencies

South Korea’s Ministry of Economy and Finance has declared that from next year, it will be introducing new measures to impose taxes on cryptocurrency holdings. This move comes after South Korea has already established a legal framework for crypto. According to new regulations by the South Korean government, the country will now be imposing taxes on capital gains from virtual transactions of digital currencies. The information was shared by government sources last week. One South…

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Treasury Secretary Mnuchin & Fed Chair Powell: No Plans for National Cryptocurrency

Treasury Secretary Mnuchin & Fed Chair Powell: No Plans for National Cryptocurrency

According to Treasury Secretary Steven Mnuchin, the U.S. government sees no use of diving into cryptocurrency anytime soon. Mnuchin was speaking at the House Financial Services Committee in Washington. The decision to not creating a national digital currency comes after a discussion with Jerome Powell, Chairman of the Federal Reserve. The conversation happened on Thursday while the two of them were having their weekly meeting. Mnuchin commented: “Chair Powell and I have discussed this —…

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Thailand’s Police Arrested 24 Chinese Citizens Over Bitcoin Call Center Scam

Thailand’s Police Arrested 24 Chinese Citizens Over Bitcoin Call Center Scam

According to local news outlets in Thailand, 24 Chinese have been arrested in the country under the accusation of running a crypto investment scam. The authorities conducted the raid in a call center where the Chinese nationals were allegedly conducting a Bitcoin(BTC)trade con scheme. One of the news outlets who reported the events of the arrest, Chiang Rai Times, further detailed that the alleged scam had been operational since March of this year. Currently, the…

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US Financial Stability Oversight Council: Stablecoins Are a Risk to the Economy

US Financial Stability Oversight Council: Stablecoins Are a Risk to the Economy

On December 4th, the financial regulator the Financial Stability Oversight Council (FSOC) published an annual report for the year 2019. The report mainly focuses on the popularity of stablecoins and problems rising as these crypto assets expand over a wider range of potential consumers. In the report, a panel of top financial regulators in the United States, which was set up and also included Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell, cautions…

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Brazil’s IRS Sets Rules to Fine Citizens Who Don’t Declare Crypto Holdings

Brazil’s IRS Sets Rules to Fine Citizens Who Don’t Declare Crypto Holdings

The Internal Revenue Service (IRS) in Brazil has established a specified code to categorize punishment for taxpaying citizens who fail to declare their cryptocurrency operations and holdings. This can be seen as Brazil’s major attempt to take a stronger control over the Bitcoin(BTC)trade and other digital currencies trade and exchange in the country. The new rules have already been enforced in Brazil as per the Federal Official Gazette’s publication of the briefings of the executive…

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EU Council and Commission Say No to Stablecoins Until Regulation Is Clear

EU Council and Commission Say No to Stablecoins Until Regulation Is Clear

A truckload of risks and concerns still lurk around stablecoins, this supposed stable form of cryptocurrencies, leading to concerns in the EU and other countries. The EU council and Commission took their press section to release a joint statement, clearly proclaiming their take on stablecoins and what must be done before any of such digital coins are traded in any EU country. In the joint statement, the Council and Commission acknowledge the benefits virtual assets…

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Outrageous Predictions: New Asian Virtual Currency Will Counter Dollar’s Dominance

Outrageous Predictions: New Asian Virtual Currency Will Counter Dollar’s Dominance

According to the new release of ‘Outrageous Predictions’ by the banking fintech company Saxo Group, The United States dollar’s long-lived reign as the main reserve currency might soon meet its end, especially as China has started working on the creation of a new digital currency that is driven by blockchain technology. The prediction alleges that after its long history of funding itself in the US dollar, China has been a main constituent for the staggering…

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The First Bitcoin-Featured Commercial Advertised on French Television

The First Bitcoin-Featured Commercial Advertised on French Television

Bitcoin has enjoyed its first television commercial on free-to-air station across France. The 30-second video promotes Keplerk, a financial-technology firm based in Paris, and its services. Currently, the ad is running on TF1, France’s national on-air station. Keplerk provides a virtual platform for consumers to exchange traditional fiat money for the digital currency Bitcoin(BTC)trade through exchange services in 6,500 different locations. The commercial features different functions offered by the company where customers can purchase vouchers…

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