Day: April 9, 2023

How slow US job growth could boost markets

Since the economic effects of the COVID-19 pandemic, the job market in the United States has been making gradual progress toward recovery. Despite recent encouraging job growth, it has yet fully returned to pre-pandemic levels. Nevertheless, the crypto market has benefited despite the gradual rebound. Slow US job growth and crypto According to the most recent employment data, the United States created 236,000 jobs in March, more than the forecasted 228,000 jobs. Even though this seems like a slight divergence, it is essential to remember that these figures can significantly impact…

CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’ – Featured Bitcoin News

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A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said the U.S. Congress “should explicitly prohibit” its issuance. CBDCs a Threat to Financial Privacy A policy analysis document released on April 4 by the CATO Institute warns that a central bank digital currency could be…

Ripple lawyer expects ruling within a month, says it will impact crypto’s future

A lawyer representing thousands of crypto enthusiasts in the case brought against Ripple by the Securities and Exchange Commission (SEC) suggested a verdict could be delivered by May 6, 2023. In an April 5 interview with Thinking Crypto, John Deaton, a cryptocurrency lawyer and XRP supporter, said that Judge Analisa Torres, who is presiding over the SEC’s case against Ripple in the Southern District of New York, usually issues her decisions within a couple of months of her Daubert/Experts’ decision, which was made on March 31. Although Judge Torres has…

Texas lawmakers propose a gold-backed state digital currency

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Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC). Senator Bryan Hughes introduced Senate Bill 2334 on March 10, and Representative Mark Dorazio introduced House Bill 4903 on the same day, stating that a fractional equivalent amount of physical gold would back the proposed digital currency. “Each unit of the digital currency issued represents a particular fraction of a troy ounce of gold held in trust,”…

NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases – Bitcoin News

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Looksrare, the non-fungible token (NFT) marketplace, has launched version two, also known as v2, which reduces protocol fees by 75%. According to statistics from Dune Analytics, Looksrare was the tenth-largest NFT marketplace in terms of trader count during the past week. NFT Market Protocol Looksrare Launches v2 NFT marketplace Looksrare announced the launch of version two (v2) on April 6, 2023. One of the significant changes is the reduction of Looksrare’s fees by 75% with v2. “Looksrare’s protocol fee is now a fixed 0.5%, down from 2%,” the team noted…

Crypto Exchanges Must Share User Data With Russia, Prosecutor General Demands – Exchanges Bitcoin News

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Digital asset exchanges must be obliged to provide user information to Russia’s law enforcement agencies, the country’s Prosecutor General has insisted. The circulation of cryptocurrencies in the Russian Federation needs to be regulated to counter money laundering, the official added. Cryptocurrency Exchanges Have to Report to Russian Authorities, Chief Prosecutor Says Crypto service providers should be required to register in Russia and exchanges obliged to share information about their users with Russian security services, according to the head of the nation’s Prosecutor General’s Office, Igor Krasnov. He also believes that…

Sushi’s head chef addresses community concerns amid SEC subpoena

Japan-based decentralized autonomous organization (DAO) Sushi’s head chef Jared Grey and his counsel stated that as far as they know, no one associated with Sushi has violated U.S. federal security laws, while providing reassurance that he is cooperating with the United States Securities and Exchange Commission (SEC) subpoena. In an April 8 statement, Grey answered the most commonly asked questions from the community in an FAQ format regarding the subpoena served to him, suggesting it is unknown what actions the SEC will take towards others associated with Sushi in the future.…

Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy – Economics Bitcoin News

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Economist Peter Schiff has urged people to get rid of their U.S. dollars now as a growing number of countries have escalated their efforts to reduce their dependence on the U.S. and the USD. “The dollar’s reserve currency status is in jeopardy, as is the American standard of living that depends on it. The best move you can make to mitigate your personal loss is to divest of dollars and dollar-denominated financial assets,” he stressed. Get Rid of U.S. Dollars Now, Says Peter Schiff Gold bug and economist Peter Schiff…

Robert Kiyosaki Says ‘America Is Dying’ — Warns of Hyperinflation, Death of US Dollar – Economics Bitcoin News

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Rich Dad Poor Dad author Robert Kiyosaki has issued a warning about the potential demise of the U.S. dollar and the looming threat of hyperinflation. He has expressed concern that the USD may lose its value and “become toilet paper.” Further, the famous author is saddened by U.S. authorities bringing criminal charges against former President Donald Trump. He stated: “As crime runs rampant in our cities & voters demand ‘defund the police.’ I am crying. America is dying.” Robert Kiyosaki’s USD and Hyperinflation Warnings The author of Rich Dad Poor…