U.S. Congressman Suggests That Crypto Should Be New Gold Standard
The North Carolina Republican has joined other conservatives who have recently come out in support of cryptocurrencies.
The North Carolina Republican has joined other conservatives who have recently come out in support of cryptocurrencies.
During every bullish/bearish phase, at least a handful of cryptos manage to defy the broader market trend. Something similar has been seen of late too. Despite the humdrum state of the market, a few not-so-prominent altcoins have been carrying on with their respective rallies.
Reuters has reported that Swiss financial watchdog FINMA (Financial Market Supervisory Authority) has greenlighted the first investment fund that will be dealing mainly with digital assets.
Over the past 12 years, cryptocurrency, particularly Bitcoin (BTC), has grown and is steadily becoming more prevalent in the news, media, and online as nations like El Salvador have declared it legal tender.
Bitcoin is considered the most successful cryptocurrency. It continues to entice investors who previously viewed gold as the de-facto inflation hedge and portfolio insurance.
Many famous dates are littered throughout bitcoin’s history, with ground zero being January 3, 2009 – the day the genesis block was mined. In the intervening years, Satoshi Nakamoto’s peer-to-peer digital currency has hit milestone after milestone, from reaching dollar parity to gaining medium-of-exchange status when Laszlo Hanyecz paid 10,000 BTC for a pair of Papa John’s pizzas.
A crypto investment firm is launching two new products that aim to offer accredited investors the opportunity to add crypto exposure with less of the market’s breakneck volatility.
The seven-time Super Bowl winner – Tom Brady – believes that the future belongs to digital technology.
The UAE Securities and Commodities Authority (SCA) and the Dubai World Trade Centre Authority (DWTCA) have agreed to facilitate cryptocurrency asset trading and associated financial operations inside the DWTCA’s freezone.
Members of the Iranian parliament, the Majlis, have voiced concerns over Tehran’s restrictive policies towards innovations such as cryptocurrencies. Following the release of a study recommending a new approach towards the crypto industry, the lawmakers have called for the adoption of friendlier regulations.
Snoop Dogg has already made waves in the NFT space, launching his own branded collectibles this spring, as well as a collaboration with the creator of the popular meme, Nyan Cat.
With the price charts of most altcoins flashing red candles on Monday, the global crypto-market cap tumbled below the $2 trillion-threshold. In fact, the same had fallen by more than 5% in just 24 hours, at the time of writing.
The Boston Blockchain Association (BBA) has joined a working group of blockchain-centric firms to publish a functional toolkit that will come in handy in serving as a guide to Massachusetts lawmakers in their efforts to create a favourable regulatory environment for the Commonwealth.
A report by Chainalysis showed that Africa had recorded 1,200% growth since June last year, with the need for cheaper remittances, the rise of peer-to-peer trading, and savings needs leading the revolution.
“1.1 million Salvadorans already use Chivo wallet (and we haven’t enabled 65% of phone models yet). It seems that we will be able to bank more people in one month than they did with nationalizations and privatizations of traditional banks in 40 years. Bitcoin.”
Banking giant Citi has stated that the emergence and growth of cryptocurrencies has sparked new thinking for the payments infrastructure.
Major US bank Morgan Stanley, is establishing a new cryptocurrency team, as more financial institutions in the US continue to dive into the cryptocurrency industry.
New rules against illegal crypto payments could take effect next week.