Cuba’s Citizens Use Crypto to Evade US Sanctions and Trade Restrictions

With the United States cutting the communist-run nation of Cuba out of the global financial community, international trade has been one hell of a fight – and in this fight, crypto obtains greater and greater role. Cubans can no longer use credit or debit cards like others do. They have turned to their family outside of the country to help them purchase things they need in stores abroad. Well, not a lasting solution for the thousands of inhabitants living in the Island. Recent report from Havana suggests that Cubans are…

Bitcoin Is ‘The Most Extraordinary Bubble of Our Generation’ Says Trader – CCN.com

The next bitcoin bull market is only getting started, analyst claims. | Source: Shutterstock Bitcoin is up by almost 180% year-to-date. To some, the disbelief rally has run its course, and it is now time to short the market. Trade Tosser Tweet | Source: Twitter While a quick short might be profitable now, one trader believes that the rally from $3,000 to almost $14,000 is nothing but a warm-up. According to an analyst, all four BTC bull runs were massive local bubbles. In his humble opinion, bitcoin is the future.…

Two California Council Members Purchase Cannabis with Cryptocurrency

In what was dubbed the first of its kind purchase, two California council members were seen buying marijuana from a local store with cryptocurrency. The council members, Berkeley City’s Ben Bartlett and Emeryville City’s Dianne Martinez, were spotted in a local cannabis shop in Ohana on September 11th, where they reportedly used a stablecoin (still unknown which one) to purchase a cannabis product. Although the exact product they bought is yet to be identified, one of the council members was seen holding up a CBD product used for treating chronic…

Germany Against Facebook Libra Entering the European Market

Recently, a report by Der Speigel magazine in Germany indicates that the German government is against giving approval to private stablecoin issuers such as Facebook and its digital currency Libra. The report cites a member of the current government, Thomas Heilman, who called for caution against these stablecoin issuers. He said that so far the economy of the region was in a great shape in monitoring inflation measures and countering any fiscal crises. But once a digital currency provider was allowed to monopolize the market, there will be no space…

Banco Santander Becomes the First Ever Bank to Issue a Blockchain-Backed Bond

Banco Santander has announced that it has successfully issued a bond that is backed by end-to-end blockchain, and possibly revolutionizing the bond technology. The news was revealed on September 12th through a press release issued by the bank itself. As stated in the press release, the technology behind the bond consists of the Ethereum (ETH)trade blockchain. Since this is an open source technology, it ensures that the bond is tokenized and registered without facing any issues with the authorities. The cash that was required for the investment has also been…

The IRS Is Blindly Coming After Cryptocurrency Traders — Here’s Why

Over the past month, we have seen the IRS, the tax collecting agency of the United States, send out more than 10,000 warning and action letters to suspected cryptocurrency holders and traders who may have misreported digital assets on their tax returns. Letters like the 6174-A, 6173 and CP2000 have appeared in the mailboxes of cryptocurrency traders throughout the country, and the crypto tax software company that I run has seen an influx of frantic customers coming to us for tax help out of fear of penalties. The problem here…

Biggest BTC ATM Network Coinme Raises $1.5 Million From Ripple’s Xpring

One of the most famous providers of kiosks and ATMs for cryptocurrencies, Coinnme, managed to raise $1.5 million in a Series A-1 financing round that incorporates Ripple’s branch Xpring and Blockchain Finance Fund. Earnings from the funding will be deployed for auxiliary licensing in order to develop its U.S. and international coverage. Co-founder and CEO Neil Bergquist commented that Coinme is the company that is licensed to operate Bitcoin ATMs in 29 states and shall register for the forward state licenses in the next few years. As for international markets,…

Mastercard Collaborates with R3 to Create Blockchain-Based Payments Model

Mastercard, one of the world’s leading payment processors, and the leading enterprise blockchain software provider R3, announced they would jointly develop a new blockchain-powered cross-border payment solution. The newly developed blockchain system will also be supported by banks to conduct seamless transactions and real-time payment proposition. Mastercard has been exploring blockchain technology for a few years now and has about 80 blockchain patent application. The company even acquired Transfast, a global payments company with significant cross-border network reach. With Transfast, Mastercard claims to reach 90% of the population and over…

Non-Compliant Fintechs Won’t Survive the War on Terror

United States Treasury undersecretary Sigal Mandelker stated that cryptocurrencies could become “the next frontier” in the war on terrorism. According to a press release published on the U.S. Treasury’s website on Sept. 11, Mandelker made her remarks during the 19th annual international conference on counterterrorism. Cash is still predominant While Mandelker admitted that most terrorist organizations still rely on various traditional means of financing such as cash, she also said that she believes crypto could become “the next frontier”: “Terrorist organizations and their supporters and sympathizers are constantly looking for…

Nature Abhors a Vacuum: Why Trump’s Proposed Negative Rates Bode Well for Bitcoin

In a recent tweet, U.S. president Donald Trump delved into an explosive, all-caps-loaded mini-rant about the necessity of getting “interest rates down to ZERO, or less.” The bombastic politician stressed the need for America to refinance its debt, trailing off with some superficially conservative speak about the U.S. and its “great currency, power, and balance sheet,” and calling the Fed “boneheads” for refusing to inflate credit bubbles further. Sycophantic support of the leader aside, negative interest rate policies (NIRP) are slowly but surely gaining prominence worldwide, setting everyone up for…