Legal

These factors were key to taking the steam out of Bitcoin’s ‘frenzied crypto-rally’

Source Node: https://ambcrypto.com/these-factors-were-key-to-taking-the-steam-out-of-bitcoins-frenzied-crypto-rally/
Time Stamp: September 11, 2021 5:30 AM - Modified On: September 11, 2021 - Published By:
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Republished By Plato

Volatility in the cryptocurrency world is real, there’s no doubting that. While some expected it to be a relic of the past, it came to the fore a few days ago after Bitcoin dropped below $45,000, taking the rest of the market with it. Now, different people have attributed different reasons to the aforementioned drop. A recent Twitter thread from a Singapore-based crypto-fund firm is a case in point. According to the same, the United States played a major role in driving or rather, aggravating this volatility. QCP Capital argued

Panama’s crypto-bill will make it ‘compatible’ with crypto-assets, digital economy

Source Node: https://ambcrypto.com/after-el-salvador-panama-introduces-bill-to-regulate-cryptocurrencies/
Time Stamp: September 7, 2021 8:00 PM - Modified On: September 7, 2021 - Published By:
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Republished By Plato

As El Salvador became the first country to make Bitcoin legal tender, another Central American country took a step towards recognizing the importance of cryptocurrencies. The Republic of Panama, recently introduced its cryptocurrency bill. Panamanian Congressman Gabriel Silva, in a tweet thread, announced the same. According to him, the bill aimed to make Panama a “country compatible with the digital economy, blockchain, crypto assets, and the internet.” Moreover, use cryptocurrencies remained optional for individual citizens as well as businesses as per the said bill, which did not compel anyone to

BIS Tests CBDCs for International Settlements Between Several Countries

Source Node: https://beincrypto.com/bis-tests-cbdcs-for-international-settlements-between-several-countries/
Time Stamp: September 2, 2021 8:30 AM - Modified On: September 2, 2021 - Published By:
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Republished By Plato

The Bank for International Settlements (BIS) is cooperating with several countries to test the use of central bank digital currencies (CBDCs) for international settlements.Sponsored Sponsored In participation are the central banks of Australia, Malaysia, Singapore and South Africa. The experiment could lead to a more efficient global payments platform. ‘Project Dunbar’ Led by BIS’ Singapore Center, “Project Dunbar” aims to develop prototype shared platforms for cross-border transactions using multiple CBDCs. This would allow financial institutions to transact directly with each other using the digital currencies. Consequently, this would eliminate the

Binance flagged by Singapore’s MAS, placed on Investor Alert List

Source Node: https://ambcrypto.com/binance-flagged-by-singapores-mas-placed-on-investor-alert-list/
Time Stamp: September 2, 2021 8:00 AM - Modified On: September 2, 2021 - Published By:
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Republished By Plato

While Binance has continued to accelerate its compliance efforts, its regulatory woes just keep mounting. The Monetary Authority of Singapore [MAS] is in the news today after it put the cryptocurrency exchange on its regulatory radar. The exchange platform was placed on the central bank’s Investor Alert List on 2 September. The list contains companies or entities that have not been licensed by the regulatory body but may have been wrongly perceived by investors to be regulated. Now, while no further details about the flagging have been provided, it comes

Japan’s Rakuten Wallet to resume XRP margin trading next week

Source Node: https://ambcrypto.com/japans-rakuten-wallet-to-resume-xrp-margin-trading-next-week/
Time Stamp: September 2, 2021 5:30 AM - Modified On: September 2, 2021 - Published By:
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Republished By Plato

While Ripple Labs and XRP continue to face scrutiny in the U.S, other countries and agencies might soon look at the latter more favorably. Rakuten Wallet, operated by one of Japan’s leading e-commerce portals, has just announced the resumption of XRP trading on its platform. Rakuten’s crypto-arm had discontinued services related to XRP in December last year following concerns arising from the SEC’s lawsuit in the U.S. At the time, the company had claimed that they were unsure if XRP’s liquidity could be secured. The entity had also raised concerns

Binance U.S could realize its IPO dreams by 2024

Source Node: https://ambcrypto.com/binance-u-s-could-realize-its-ipo-dreams-by-2024/
Time Stamp: September 2, 2021 3:30 AM - Modified On: September 2, 2021 - Published By:
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Republished By Plato

Popular crypto-exchange Binance’s U.S. division could have an initial public offering by 2024, according to CEO and Founder Changpeng Zhao. In a recent interview, the exec noted, “Binance.US is just going to do what Coinbase did.” Here, it’s worth noting that Coinbase’s IPO was followed by lawsuits from Donald Ramsey and other investors. In fact, many of the latter have alleged the exchange made “materially misleading” statements during its IPO. As Coinbase continues to fight this charge, Binance may want to make sure that it covers its bases from regulatory

El Salvador’s First Official Bitcoin Commercial for Chivo Wallet Airs

Source Node: https://beincrypto.com/el-salvadors-first-official-bitcoin-commercial-for-chivo-wallet-airs/
Time Stamp: September 1, 2021 5:30 AM - Modified On: September 1, 2021 - Published By:
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Republished By Plato

The first advertisement for the bitcoin wallet of El Salvador, Chivo Wallet, has been released. The ad is effectively the first government ad of this sort.Sponsored Sponsored Released on August 31, the ad is a quick explainer of bitcoin, the Chivo wallet, and the cryptocurrency’s benefits. The wallet is set to be available from September 7. https://s32659.pcdn.co/wp-content/uploads/2021/09/Chivo.mp4Chivo Wallet ad: El Salvador President Nayib Bukele’s Twitter handle El Salvador’s President Nayib Bukele announced the wallet’s release date last week, confirming that the use of bitcoin would not be mandatory. This appeased

Adoption of Crypto by South American Countries and Implications for Gambling

Source Node: https://themerkle.com/adoption-of-crypto-by-south-american-countries-and-implications-for-gambling/
Time Stamp: August 28, 2021 1:36 PM - Modified On: August 28, 2021 - Published By:
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Republished By Plato

South American nations are becoming more receptive to cryptocurrencies, with some attempting to legalize Bitcoin. The continent may be leapfrogging everyone else in cryptocurrency adoption as a result of its leaders’ acceptance.The continent may be leapfrogging everyone else in cryptocurrency adoption as a result of its leaders’ acceptance.El Salvador and Paraguay are grabbing attention in the world of BitcoinCryptocurrencies have gained widespread adoption in almost every country on Earth. No country, however, has elevated Bitcoin’s status to that of legal tender. El Salvador aims to be the very first country

NBA icon Stephen Curry buys Bored Ape NFT for $180,000

Source Node: https://www.theblockcrypto.com/post/115911/nba-icon-stephen-curry-buys-bored-ape-nft-for-180000?utm_source=rss&utm_medium=rss
Time Stamp: August 28, 2021 4:48 AM - Modified On: August 28, 2021 - Published By:
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Republished By Plato

Three-time NBA champion and two-time MVP Stephen Curry has decided to join the Bored Ape Yacht Club, picking up one of their NFTs for 55 ETH ($180,000).Bored Ape Yacht Club is a collection of 10,000 apes with dour expressions. They feature a range of attributes, ranging from different expressions to outfits, hairdoos and even having cheetah fur. Curry's bored ape in particular has blue fur, zombie eyes and is wearing a tweed suit. The last two are particularly rare attributes, with only 3% of apes having zombie eyes and 1%

China: Is the PBoC’s new ‘reminder’ on Bitcoin’s status really new

Source Node: https://ambcrypto.com/china-is-the-pbocs-new-reminder-on-bitcoins-status-really-new/
Time Stamp: August 27, 2021 9:30 PM - Modified On: August 27, 2021 - Published By:
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Republished By Plato

“We remind the people once again that virtual currencies such as Bitcoin are not legal tenders and have no actual value support.” The People’s Bank of China [PBoC] has once again raised an alarm about the use of cryptocurrencies in light of its recent crackdown. According to local reports, the central bank took a shot at Bitcoin, commenting that such virtual currencies cannot compete with existing legal tender. Yin Youping, Deputy Director of the Financial Consumer Rights Protection Bureau of the PBoC, argued that cryptos are not backed by any

Cuba agrees to regulate, recognize cryptos citing ‘socio-economic interest’

Source Node: https://ambcrypto.com/cuba-agrees-to-regulate-recognize-cryptos-citing-socio-economic-interest/
Time Stamp: August 27, 2021 7:30 PM - Modified On: August 27, 2021 - Published By:
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Republished By Plato

Two weeks ahead of El Salvador’s official adoption of Bitcoin as legal tender, another Latin American nation has decided to officiate the use of cryptocurrencies. According to recent reports, the Cuban government has said that it wants to “recognize and regulate” the use of digital assets in the nation. A resolution was published in the nation’s Official Gazette today, one which revealed that the Cuban Central Bank will soon be implementing rules for the use of cryptocurrencies. Additionally, it will also be determining the licensing requirements for crypto-service providers within