Tag: News

US Dollar Will Remain Global Reserve Currency, Says It ‘Has Great Inertia’ – Economics Bitcoin News

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In remarks that appear to pour cold water on assertions that digital currencies will topple the U.S. dollar anytime soon, a former governor of the Chinese central bank, Zhou Xiaochuan, insisted the greenback will remain in its position as the global reserve currency. Xiaochuan said the dollar still “has great inertia.” Process to Change Role of Dollar Very Slow The former governor of the Chinese central bank, Zhou Xiaochuan, insisted in a recent interview that “unless there is [a] change in the global landscape” the U.S. dollar will remain the…

Biggest Movers: NEAR Hits 1-Month Low, XMR Down 12% – Market Updates Bitcoin News

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NEAR saw recent losses extend on Wednesday, as it fell to a one-month low during today’s session. The decline in NEAR came as XMR also traded in the red, falling to a multi-week low in the process. NEAR Protocol (NEAR) NEAR was one of the biggest tokens to fall on hump-day, as prices fell to a one-month low earlier in today’s session. Following a peak of $15.18 on Tuesday, NEAR/USD slipped to an intraday bottom of $12.50 on Wednesday. The drop saw NEAR fall to its lowest level since March…

Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador – Bitcoin News

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According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use Chivo Wallet After Government’s Bitcoin Bonus An April 2022 working study published by the NBER, asks if cryptocurrencies are indeed currencies after researching bitcoin (BTC) as legal tender in El Salvador. NBER conducted a face-to-face…

BTC Slips Below $40,000 yet Again, Following Brief Rebound on Tuesday  – Market Updates Bitcoin News

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Following a brief rally on Tuesday, BTC once again dropped below the $40,000 level during today’s session. Wednesday’s selloff has seen prices fall by as much as 4%, whilst ETH also declined by the same amount. Bitcoin The world’s largest cryptocurrency moved lower on Wednesday, following a brief rally during yesterday’s trading session. Following a peak of $40,330.46 on Tuesday, BTC/USD slipped to an intraday bottom of $37,884.99 on hump-day. This latest low sees BTC continue to trade near its $37,700 support level, and close to a recent one-month low.…

L2 Scaling Startup Optimism Reveals Governance Collective, Native Token, and ‘Many Airdrops’ – Bitcoin News

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The layer two (L2) Ethereum scaling project Optimism has announced the launch of Optimism Collective, “a large-scale experiment in digital democratic governance” managed by the newly created Optimism Foundation. In addition to the governance collective, the plan is to launch a token called “OP” that aims to “govern protocol upgrades and project incentives.” Ethereum Scaling Project to Launch the Optimism Collective System On Tuesday, Optimism announced the launch of a governance system called the Optimism Collective. Optimism is an L2 scaling solution that leverages zk rollups so users can quickly…

Four Bored Apes Stolen in Malicious Phishing attack on Yuga Labs – Blockchain News, Opinion, TV and Jobs

Yuga Labs, the collective behind the infamous Bored Ape Yacht Club non-fungible tokens, has been targeted by another cyber attack, or so called phishing attack. In a phishing attack, a criminal poses as someone else, in order to break in. The hackers gained access to the Instagram profile of the Bored Ape Yacht Club. In the attack, 133 NFTs were stolen, which together are estimated to be worth about 2.4 million dollars (more than 2.2 million euros). Once in the account, the malicious hacker shared a fraudulent link to a…

Bank of Spain Report Warns About Cryptocurrency Usage and Its Effect on Financial Stability – News Bitcoin News

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The Bank of Spain has issued a new report that touches on the subject of the popularity of cryptocurrency usage and the possible effects it might have on the financial stability of the nation. In the document, the bank explains that these assets — which ostensibly don’t have any kind of support behind them — can introduce systemic risks via their adoption by traditional institutions and the lack of regulation over them. Crypto Assets Could Cause Systemic Risks According to the Bank of Spain The Bank of Spain…

Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion – Taxes Bitcoin News

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The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it easier for tax agencies all over the world to curb evasion. The organization has already made use of financial information to collect taxes from Argentinian users with bank accounts abroad. Argentinian Tax Agency Backs Crypto Holder Registry Creation The AFIP, which is the Argentinian national tax collecting agency, wants to advance its efficiency in the collection…

National Assembly of Panama Advances Discussion of Cryptocurrency Law Project – Bitcoin News

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The National Assembly of Panama has advanced a cryptocurrency law project that seeks to regulate cryptocurrency activity to give more clarity to the sector in the country. The proposal, which was approved in the first discussion, was composed of two different projects presented to the economic affairs commission of the Assembly. Panama Moves to Regulate Crypto Assets Panama is taking steps to regulate crypto assets and the businesses that use them in the country. The National Assembly of the country, which is the highest legislative organization in Panama,…

Mining Report Shows Bitcoin’s Electricity Consumption Decreased by 25% in Q1 2022 – Mining Bitcoin News

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At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report that discusses the bitcoin mining industry’s improvements in sustainable energy use during the first quarter of 2022. The BMC report’s findings show Bitcoin’s electricity usage dropped by 25% in Q1 2022 compared to the year prior. Bitcoin Mining Council Publishes Q1 2022 Covering Mining Industry’s Sustainable Power Mix and…