Day: September 28, 2021

Peruvian stablecoin launches on Stellar blockchain

Latin American stablecoin issuer Anclap is expanding its Stellar-based stablecoin network by launching a new stablecoin in Peru, Cointelegraph en Español reports. Pegged to Peru’s official fiat currency, the Peruvian sol (PEN), the new stablecoin is designed to enable instant transactions across Anclap’s network, including conversions in other fiat currencies as well as “any other digital asset,” the firm announced Sept. 25. Called the “digital sol,” the stablecoin is said to be 100% backed by local fiat currency and is available on the Stellar network to be integrated into any platform. According…

Green Beli Raises $1.1M for its Eco-Friendly NFT Gaming Project

Undoubtedly, climate change has brought numerous problems to the world. The activities of man, which mainly centers on industrialization, have created a grave issue that will only take the combined efforts of everyone to solve. Although we can’t dispute the countless benefits of industrialization, the climate is the one paying the repercussions of human affairs. The past year has seen world leaders clamor about addressing climate change and set up targets to save the world from the frequent forest fires, coastal flooding, extinction of animals, rising sea levels, carbon emissions,…

CBDCs could cut cross border remittance costs by half: BIS report

The Bank for International Settlements (BIS) has published a report touting the benefits of central bank digital currencies (CBDCs), especially in reducing the cost of cross-border payments. According to the report titled: “Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments” published on Tuesday, CBDCs can reduce the transaction throughput of cross-border payments from between three to five business days to only a few seconds. The stated claim is part of the conclusions drawn from phase two of Project Inthanon-LionRock involving the central banks of China, the United…

‘Banking the Unbanked’ Is the Most Important Use Case for Digital Currencies in Africa – Fintech Bitcoin News

The year 2020 may well go down as the year when blockchain technology and cryptocurrencies, in particular, gained mainstream recognition. The restrictions on movement, as well as the widespread fear of catching a virus, forced many to look for alternative ways of making payments or sending remittances. This search for an alternative inevitably led many to crypto. Although the use of such alternatives to fiat cash continues to grow, many of the intended beneficiaries in places like Africa are still unable to use such digital currencies. Kenya’s Kotani Pay Addresses…

Bitcoin, Gold Under Pressure as Dollar Tracks US Treasury Yields Higher — CoinDesk

The crypto market leader is trading near $41,800 at press time, down 2% for the week, having bounced from $41,000 to $44,000 over the weekend. Gold is nursing a 0.5% loss at $1,740 per ounce, while the dollar index, which tracks the greenback’s value against majors, has jumped to 1.5-month highs above 93.00. The 10-year Treasury yield is seen at three-month highs near 1.5%, and the two-year yield is hovering at an 18-month high of 0.28%, according to data provided by TradingView. Source

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Crypto tax ‘a top enforcement priority,’ reminds IRS commissioner

The Internal Revenue Service (IRS) continues to propose new tax reforms to regulate the crypto investments in the United States, with the latest notice sharing tax obligations for the marijuana industry. The notice, signed by IRS Commissioner De Lon Harris, reflects the priorities of the United States federal agency to ensure cryptocurrency tax compliance among local businesses that grow, distribute and sell cannabis. Commissioner Harris said that the use of cryptocurrencies in the cannabis industry is one of the top enforcement priorities of the IRS. The statement coincides with the…

Elon Musk Talks Cryptocurrency, Dogecoin & The Future Of Investing While Signing Autographs At BOA

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Alibaba to ban crypto miner sales amid Chinese crackdown

Chinese e-commerce giant Alibaba is the next company to wrap its cryptocurrency-related services in response to the ongoing crypto crackdown in China. Alibaba officially announced Monday that its platform will prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. 8. In addition to stopping sales of crypto mining devices, Alibaba will impose a ban on using its platforms to sell major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), as well as smaller coins like Quark (QRK). The new restrictions involve…

‘The Institutions Are Not There’ – Bitcoin News

Anthony Scaramucci, CEO of Skybridge Capital, a multi-asset class investment firm, says he thinks the institutional investment boom in cryptocurrencies has been greatly exaggerated. In an interview given to Bloomberg last week, Scaramucci stated that most institutions are still not interested in cryptocurrency as an investment and that only 10% are actively investing in crypto. Anthony Scaramucci Thinks Institutions Are Still Not Big on Crypto Anthony Scaramucci, CEO of Skybridge Capital, thinks there is still a long way until bitcoin and cryptocurrencies are embraced by institutional investors. In…