Day: July 12, 2023

Bitcoin trader eyes BTC price ‘Darth Maul candle’ as CPI due 2-year low

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Bitcoin (BTC) eased higher into July 12 with the key macroeconomic event of the week just hours away. BTC/USD 1-hour chart. Source: TradingView CPI set to hit lowest since March 2021 Data from Cointelegraph Markets Pro and TradingView followed BTC price momentum as it slowly inched closer to $31,000. The largest cryptocurrency showed little volatility through the start of the week, with local range highs and lows still clearly defined. #FireCharts shows #Bitcoin ask liquidity moving closer to the active trading zone, while bid support strengthens. Expecting to see liquidity…

Google hit with lawsuit over new AI data scraping privacy policy

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Google is now facing a lawsuit in the follow-up to its recent privacy policy update that accuses the tech giant of misusing large amounts of data, including copyrighted material in artificial intelligence (AI) training.  The lawsuit was filed on July 11 by eight individuals who claim to represent “millions of class members” – internet users and copyright holders- who have had their privacy and property rights violated in light of Google’s recent updates to its privacy policy. In its opening statement, the plaintiffs accuse Google of “harvesting data in secret”…

Stablecoins Pose ‘Existential Threat’ to Policy Sovereignty, Says RBI Senior Official: Report

The number two at the Indian central bank said that stablecoins are beneficial to economies such as the U.S. and Europe, to whose currencies the stablecoins may be linked. But in a country like India, they could potentially replace the use of the rupee in the local economy, Sankar said, thanks also in part to the transfer of profits made by the government by issuing currency to private players. Source

Bank of China trials offline payments for digital yuan via SIM cards

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Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method is designed specifically for the digital yuan, also known as the e-CNY, which is China’s central bank digital currency (CBDC) currently being tested. This announcement was made by the bank on Monday in a social media post, revealing their partnership with telecommunication operators China Telecom and China Unicom and their intention to commence testing on Tuesday. The bank plans to enable…

Bitcoin cash price rises as Binance.US addresses recent concerns

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance.US has responded to the recent FUD over trading bitcoin cash (BCH) and maintaining the coin’s reserves.  Binance.US encountered a temporary disruption in BCH withdrawals, which caused inconvenience to users. The issue arose due to a technical problem in the deposit sweeping system.  Binance.US claims to maintain a 1:1 reserve policy to set the record straight. This means the exchange keeps an equivalent amount in reserve for every unit of BCH held by customers. We take…

U.S. Senate Finance Committee Letter Seeks Crypto Industry Comments for Taxation Policy

“In recent months, the Committee on Finance initiated a bipartisan effort to identify key questions that lie at the intersection of digital assets and tax law,” the letter said. “The Internal Revenue Code of 1986, as amended (IRC), draws distinctions between types of property, with no straightforward classification for digital assets. This uncertainty creates complex reporting issues for taxpayers …” Source