Paypal Plans to Study Transactions That Fund Extremism, Anti-Government Groups – Bitcoin News

The payment processing giant Paypal has revealed it has partnered with the nonprofit organization the Anti-Defamation League (ADL). According to the announcement, Paypal is researching transactions settled on the payment network that allegedly fund hate groups and extremism. Paypal to Study Transactions With the Anti-Defamation League A report from Reuters notes that Paypal is studying transactions that involve “extremists” and that fund “hate movements.” The company will investigate and disrupt the financial flows that support specific hate groups and alleged “anti-government organizations.” The announcement notes that the initiative will be…

South Korea Proposes Law Allowing Direct Seizure and Sale of Crypto Assets to Pay Overdue Taxes – Taxes Bitcoin News

The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers. “The revision will allow direct seizing without court-approved change in ownership records. Assets held by tax dodgers in the form of digital coins will no longer evade seizure and forfeiture,” said a government official. Korean Government Wants Ability to Seize and Sell Cryptocurrencies of Delinquent Taxpayers South Korea’s finance ministry announced the 2021 Tax Law Amendment Bill Monday, which is part of the…

US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk – Regulation Bitcoin News

U.S. Senator Sherrod Brown says cryptocurrencies are not real dollars and they “put Americans’ hard-earned money at risk.” Referring to decentralized finance (defi) as “a shady, diffuse network of online funny money,” he said, “if we want a solution to Americans’ legitimate fears about our banking system, shady start-ups are not the answer.” Senator Brown’s Warning About Cryptocurrencies U.S. Senator Sherrod Brown, Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, raised concerns about cryptocurrency in his opening statement at Tuesday’s hearing titled “Cryptocurrencies: What are they…

Ether (ETH) Trading Volume Growth Dwarfed Bitcoin’s (BTC) in the First Half of 2021

Coinbase researchers have revealed in the exchange’s H1 2021 in Review report released on July 26, that the first half of 2021 was one of the most active periods for the global crypto markets, with ether (ETH)  taking the shine out of bitcoin (BTC) in terms of trading volume growth. Another Great Year for Crypto   As of March 2020, when the price of bitcoin (BTC) revisited the $3k region, even the most die-hard crypto enthusiasts would not have believed that the flagship crypto would make a strong comeback and even…

Relief Fund Has a Difficult Time Cashing Out the $1B Worth of SHIB Vitalik Buterin Donated – Bitcoin News

In mid-May, the co-founder of Ethereum, Vitalik Buterin, donated $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund (CCRF). Close to three months later, the CCRF organizers say they have been having issues cashing out the SHIB tokens and so far, only $20 million has been paid out. It’s Not Easy Cashing Out SHIB Tokens Roughly two months ago, Vitalik Buterin decided to donate $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund (CCRF). Following the donation, CCRF thanked Buterin…

Bitcoin.com Founder Roger Ver Donates 1000 Laptops, Copies of Economics in One Lesson, to Students in Antigua

28th July 2021, St Kitts & Nevis – Bitcoin.com Founder Roger Ver announced today he has made a donation of 1,000 ASUS laptops and 1,000 copies of Henry Hazlitt’s Economics in One Lesson to support the education of students in Antigua. The computers were purchased with Bitcoin Cash through BitoPro, Taiwan’s largest cryptocurrency service provider, and each student who reads the Foundation for Economic Education’s copy of Economics in One Lesson (paid for in Bitcoin Cash) will earn $100 USD in Bitcoin Cash that they can hold as an investment,…

Digital Euro to Handle ‘Almost Unlimited’ Payments, Estonian Central Bank Says After Test – Fintech Bitcoin News

A blockchain-based digital euro would be highly scalable allowing it to process an almost unlimited number of payments, the central bank of Estonia has concluded following a recent experiment. Central banks from several euro area countries and the ECB participated in the test, which also professed to show the digital currency’s carbon footprint would be smaller than that of card payments. 300,000 Payments a Second Processed During Digital Euro Trial An experiment carried out as part of the recently launched ‘Investigation Phase’ of the digital euro project has established that…

Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market – Finance Bitcoin News

The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after accusing them of failing to stick to their core mandate. Instead of providing forex to retail users, BDCs are believed to be supplying the scarce resource to so-called “illegal” dealers. BDC Operators Accused of Fueling Parallel Market Activity The illegal dealers, in turn, avail the foreign exchange to clients at parallel market exchange rates. For instance, while the CBN insists that the naira’s exchange rate…

Iran Raises Alarm Over Potential Influx of Miners From China – Mining Bitcoin News

With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible influx of miners and illegal imports of mining hardware from China. Tavanir Warns About Flood of Chinese Miners and Equipment Into Iran The Iran Power Generation, Distribution and Transmission Company, Tavanir, has issued a warning regarding the entry of Chinese cryptocurrency miners into Iran amid China’s ongoing crackdown…

Unique Addresses Tethered to Ethereum Defi Apps Climb Past 3 Million – News Bitcoin News

The number of users or unique addresses leveraging decentralized finance (defi) protocols via Ethereum has risen past 3 million according to recent statistics. A vast majority of these unique addresses use the defi protocol Uniswap, as 2.4 million users have been recorded since December 2018. Ethereum Defi Applications See Unique Addresses Surpass 3 Million According to statistics from Dune Analytics, the number of users or unique ethereum addresses utilizing defi has jumped past the 3 million threshold this week. At the time of writing, data shows there are 3,092,000 unique…