Politics

Venezuela Suspends Free Fuel Amid Shortages, Petro (PTR) an Option for Payment

Free unlimited fuel is over in Venezuela, and one of the approved payment options for the new market is the Petro cryptocurrency.

New Law Demands ‘Backdoor’ Against Encryption: Andreas Antonopoulos

A new law currently making its way through the US legislative system could have dramatic impacts on the legality of encryption. Originally and ostensibly designed to combat child pornography, the law could effectively render encryption illegal.

Ron Paul Blasts Federal Reserve and Calls for Rebuilding the Economy; Time for Bitcoin?

Former US Representative and Presidential candidate Ron Paul took to Twitter to blast the Federal Reserve’s money-printing tactics in response to the coronavirus and called for a total rebuild of the economy. 

Bitcoin’s Price Has More Pain to Come Before Next Mega-Wave up, Says Silk Road Founder

The incarcerated founder of Silk Road, Ross Ulbricht, has taken to charting Bitcoin and forecasts more losses for the leading crypto. But after that, he sees no limit to where it could go.

European Leaders Approve Emergency Funding, But No Coronabond Aid Yet

A new credit line worth several hundred billion euros (potential) has been approved last night, along with new pledges for a more relaxed attitude toward fiscal injections in the EU; this prompts concerns of eventual inflation.

Venezuelan Petro Price Swings Wildly Off Peg, as Oil Price Plummets

PTR’s official, government-defined price is wildly out of sync with fluid global markets. The token, supposedly pegged to one barrel of crude oil, still being valued out-of-market at more than double the market price.

Bahamas Digital Sand Dollar Expanding to All Islands in Q2 2020

The governor of the central bank of the Bahamas has confirmed that the country’s digital currency test pilot will be expanded to all of the islands in Q2 2020. 

TRUMP-2020 Futures Trading live on FTX Derivatives Platform

Crypto derivatives exchange FTX is offering clients the opportunity to trade futures on President Trump’s 2020 reelection via the TRUMP-2020 contract. 

New Ukrainian Amendment Makes ‘Virtual Assets’ Compliant With FATF Guidelines

A new amendment passed by the Ukranian legislature seeks to make crypto and virtual assets compliant with the sweeping FATF “travel rule” guidelines. 

Indian Godman Fugitive Wants to Start island Nation Using Crypto

An Indian “Godman” fugitive has announced the creation of a new sovereign nation off the coast of Ecuador that will operate its economy based upon cryptocurrency.

Vitalik Buterin Supports Freeing Ethereum Dev Arrested for Visit to N. Korea

Ethereum co-founder Vitalik Buterin took to Twitter to argue his support for Virgil Griffith after the latter was arrested for attending a conference in North Korea. 

ECB Should Use DLT for Euro Payments, Says Deputy Governor of French Central Bank

The First Deputy Governor of Banque de France has recommended using distributed ledger technology (DLT) for settlements within the Eurozone.

China is Using Blockchain Technology to Record Community Party Members Loyalty

The People’s Republic of China Communist Party has released a new blockchain-based application that encourages users to pledge their loyalty to the Party while tracking their input. 

Chinese Official Slams Libra, Says Central Bank will Issue Digital Currency First

Chinese Official Huang Qifan told audience members at the Bund Financial Summit that Facebook’s libra was likely to fail, and that China’s central bank would be the first to issue a digital currency.

Bahamas Central Bank Launching Project Sand Dollar in Abaco

The central bank of the Bahamas has announced the launch of its digital currency pilot program Project Sand Dollar will take place in Abaco before the end of the year. 

Former Federal Reserve Nominee Announces Launch of New Stablecoin

Former Federal Reserve nominee Stephen Moore has announced his intention to launch a stablecoin backed by a fractional reserve. Moore says that existing financial systems will be forced to compete with the rise of private currencies such as Frax. 

US Fed Looking Into Issuing a Digital Dollar, Top Official Says

The US central bank is considering the issuance of a digital currency, according to one of its top officials, as concerns grow over the potential impact of rival national cryptocurrencies or corporate alternatives such as Facebook’s Libra.

Former CFTC Chief Says U.S. Should Create an Independent Digital Dollar

A former head of one the top US market regulatory bodies believes the government must create a digital dollar to help spread monetary risk away from central banks.

Senators Advise Payments Companies to Reconsider Libra Membership

US lawmakers are piling the pressure on Libra Association members to think again about their affiliation with Facebook in its project to launch a corporate cryptocurrency next year.

Fed Requested by Congress to Consider Developing a Digital Dollar

US Federal Reserve chairman Jay Powell has been asked by two Congressmen to consider developing a national digital currency.

ING Economist Predicts Central Bank Digital Currency in Next Few Years.

The chief economist and head of global research for Dutch bank ING has expressed his belief that central bank digital currencies (CBDC) are advancing quickly from the horizon. Mark Cliffe, who leads a worldwide team of economists and strategists for the company, voiced his thoughts on the matter in a video, where he said “central banks […]

Venezuelan Central Bank Accused of Laundering Bitcoin Obtained with Seized Mining Rigs

Venezuela’s central bank is being accused of laundering bitcoin and ethereum obtained by the illegal seizure of mining rigs. 

People’s Bank of China Head Says There’s ‘No Timetable’ for Digital Currency Launch

The Governor of the People’s Bank of China, Yi Gang, has moved to dampen down expectations regarding the country’s launch of a digital currency. In a press conference yesterday, he refuted recent rumors of an imminent launch for the 'Libra-style' cryptocurrency, and even questioned whether the plan would rely on blockchain technology at all.  Yi’s time in front of […]

TRONs Justin Sun Giving Away $1.2 Million for UBI, 50,000 TRX to Telegram Group

Tron founder Justin Sun has been inspired by Andrew Yang’s universal basic income movement, and has pledged to give $1.2 million to 100 people in 2020. Sun called upon the US presidential candidate to assist in his selection process. 

China Loads Up on Tons of Gold, but Why Not Bitcoin?

China has loaded up its reserves with almost 100 tonnes of gold since it started buying back in December 2018. It’s no coincidence this accumulation of bullion arrives at a time where the economic uncertainties are rife; for China, many of these uncertainties are centered around their own economy.

Incoming ECB Head Lagarde Says Crypto Needs Regulation to Thrive

MF’s Lagarde tells Economic and Monetary Affairs Committee of the European Parliament that digital currencies and assets need “appropriate regulation” in order “to steer technology towards the public good.” 

ZCash Community Greets Proof of Stake Proposal with Skepticism

In the last few days, a proposal from a member the ZCash community has sparked debate among users, developers and parties interested in the fortunes of the privacy centric cryptocurrency.

North Korea Denies It Raised $2 Billion via Cryptocurrency Exchange and Bank Hacks

North Korea has responded to a confidential United Nations (U.N.) report claiming the country raised up to $2 billion by targeting cryptocurrency exchanges and other financial institutions.

Search Interest for Bitcoin Is Bigger Than Boris and Brexit, Google Trends Shows

Despite the looming possibility of a no-deal Brexit and with most of the UK up in arms about the prorogation of parliament by Prime Minister, Boris Johnson, ‘bitcoin’ is trending head of both ‘Brexit’ and ‘Boris’ in Google Trends.

Chinese State Media Refutes Claims that Digital Currency WIll Launch in November

Chinese state media publication The Global Times refuted reports that the central bank’s digital currency would be launching later this year, calling it “inaccurate speculation.”

Chinas Central Bank Digital Currency Could Launch By November

According to a new report, China’s central bank is planning to issue its digital currency as early as November, by first distributing the coin to seven institutions including Alibaba and Tencent. 

Bank of England Governor Recommends Replacing Dollar With ‘Libra-Like’ Digital Currency

Bank of England Governor Mark Carney made a radical proposal at the Federal Reserve’s annual policy retreat, calling for the replacement of the US dollar with a Libra-like alternative to be used as the global reserve. 

Rwandas Central Bank Reportedly Considering Launcing Its Own Cryptocurrency

According to a new report, Rwanda’s central bank is considering the development and issuance of a digital currency in an effort to increase the efficiency of transactions and spur economic growth. 

20% of Turks Use or Own Cryptocurrencies, Report Says

A survey by a German data firm suggests that Turkey is one of the world’s biggest adopters of cryptocurrencies despite the country having no legal framework for trading such assets.

India’s Supreme Court Asks Central Bank to Justify Its Position on Cryptocurrency Businesses

The Supreme Court in India has given the Reserve Bank of India (RBI) just two weeks to better justify its ban against allowing banks to work with cryptocurrency businesses. 

Cryptocurrency ATM Operator Gives Hong Kong Protestors Water Paid With BCH Donations

Crypto ATM provider Genesis Block aided protestors in Hong Kong by distributing water bottles and umbrellas that were paid for in BCH donations. 

U.S. Lawmakers to Focus on Discussing Facebook’s Libra on Swiss Visit

A group of US lawmakers are traveling to Switzerland to meet with data agency that will be overseeing Facebook’s forthcoming digital currency Libra. 

China’s Shenzen Zone Opens Doors to Digital Currency Research

In a move that perfectly encapsulates the Chinese authorities’ somewhat conflicted relationship with digital assets, it’s been revealed that the Shenzhen Special Economic Zone will look to open its doors to crypto companies and aid their research.  The ‘One Country, Two Systems’ concept that will drive the zone’s mission to serve as an example of […]

China’s State Cryptocurrency Will Not be Decentralized

China announced that its state-backed, central bank issued digital currency (CBDC) won’t be decentralized and will only partially use a distributed ledger, causing doubts over whether it can be classed as a cryptocurrency.

China Leads on Latest Central Bank Cryptocurrency Projects

China said this week that it is close to launching its central bank digital currency (CBDC) after more than a year’s work to put the framework in place to support the digital yuan.

Hong Kong Develops Bitcoin Premium as Protests Continue

Hong Kong traders are paying a $300 or more premium to invest in bitcoin as political unrest and protesting has driven an increased demand for crypto-assets. 

Elon Musk Backs Crypto-Friendly Andrew Yang for President in 2020

Influential technology entrepreneur and crypto-enthusiast Elon Musk declared this weekend that he supported the Andrew Yang for President campaign for the 2020 US election.

New Zealand Says Salary Payments in Crypto are Legal and Taxable

Tax authorities in New Zealand are to allow income to be paid in cryptocurrency and have set out new rules on how such payments should be taxed.

Chinas Central Bank Digital Currency Is Reportedly Ready for Launch

Following five years of development, China’s central bank has announced it is ready to launch a digital currency. According to the report, the new currency will not rely upon a pure blockchain architecture and that the central bank will utilize a two-tier operating system for distribution. 

India Risks Losing $12.9 Billion if Crypto Ban Is Enacted, Expert Says

India could lose a share of the global digital assets market worth around $12.9 billion if the government presses ahead with a total ban on cryptocurrencies.

Israelis Unable to Pay Tax on Crypto-Trading Profits as Banks Freeze Up

Israeli tax authorities are missing out on potentially millions of dollars worth of tax income from cryptocurrency investors as local banks will not accept deposits from crypto earnings.

UK Judge Dismisses Craig Wright’s Libel Lawsuit Against Roger Ver

A U.K. judge has dismissed Craig Wright’s libel suit against Roger Ver due to lack of jurisdiction.

U.S. Defense Dept. Wants a Blockchain Cybersecurity Shield

The US Department of Defense has outlined its intention to create a blockchain cybersecurity shield. The DoD believes that blockchain technology can be utilized to make existing systems more secure, in addition to discouraging potential hackers. 

GitHub Blocking Developers Presents a Need for Decentralization

Reports have emerged that popular collaboration platform GitHub has become banning developers in countries affected by US trade sanctions, including a widespread crackdown on users from Iran.

Australia Exempts Cryptocurrenies From Cash Payment Limit Proposal

Australia’s treasury department has carved out new guidelines limiting the size of cash-based currency payments, but cryptocurrencies have been excluded from the draft legislation.

Bitcoin Searches Surge as Britain Prepares for Brexit

Bitcoin search volume has surged over the past several months, particularly in the UK, as most of Europe prepares for the fallout of Brexit. 

Russia Mulls Cryptocurrency Use in Arms Sales

The Russian Engineering Union (‘SoyuzMash’) has requested that the Central Bank of Russia consider exploring distributed ledger technology as a potential means of exchange for arms deals with foreign customers.

$100 Million Indictment Filed Against BTC-E and Alexander Vinnik

On July 25, a civil lawsuit was filed in the Northern District of California, indicting defunct cryptocurrency exchange BTC-e and its executive Alexander Vinnik for alleged violations of the Bank Secrecy Act.

Huawei Chief Executive Says China Should Issue State Cryptocurreny

Ren Zhengfei, the taciturn founder and chief executive of US sanctions-hit Chinese tech firm Huawei, has said that China should issue its own cryptocurrency to rival the planned launch of Libra by Facebook.

Venezuela Has Reportedly Been Turning Airport Taxes Into Crypto to Dodge Sanctions

The Venezuelan government has reportedly been taking advantage of tax revenue from an airport near its capital and cryptocurrencies to evade economic sanctions.

Central Bank Cryptocurrencies Could Solve Competition Issues EU Says

Digital currencies issued by central banks may help solve competition issues in the cryptoasset market, the European Parliament has said in a study commissioned by the Committee on Economic and Monetary Affairs.

Tim Draper Calls Indian Government Pathetic and Corrupt Over Bitcoin Ban

Billionaire investor and bitcoin bull Tim Draper took to Twitter to voice his displeasure with the Indian government considering a ban on cryptocurrency. The emergence of a recently drafted bill making the use of bitcoin punishable with a 10-year prison sentence led the American investor to call the Modi government “pathetic and corrupt.”

Could President Trump Ban Bitcoin? Experts Weigh In

Experts weigh in on the possibility of President Donald Trump or the US government banning bitcoin. While it remains a long-shot possibility, increasing concern over Facebook’s libra and the rise of large platform digital currencies could push legislatures to consider radical proposals. 

IMF Predicts Stablecoins Will Challenge Cash and Bank Deposits

The International Monetary Fund (IMF) has published a paper launching a new series of work seeking to “provide insight into the intersection of technology and the global economy.”

Study Shows How US Adversaries are Weaponizing Cryptoassets

US sanctions can be crippling for those countries that invoke the ire of the world’s largest economy, but a new study suggests some could be fighting back by using cryptoassets to sidestep the dominance of the dollar-led global financial system.