South Africa’s Reserve Bank is set to begin regulating cryptocurrencies as financial assets in the next 18 months, with exchanges expecting the move to drive adoption in the country. The move to classify cryptocurrencies as financial assets and not currency, has been talked about for some time by the South African Reserve Bank (SARB). Deputy governor
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The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies are used. Global Average Higher
The Bitcoin (BTC) price chart from the past couple of months reflects nothing more than a bearish outlook and it’s no secret that the cryptocurrency has consistently made lower lows since breaching $48,000 in late March. Curiously, the difference in support levels has been getting wider as the correction continues to drain investor confidence and
The United States Consumer Price Index soared to 9.1% in June, exceeding expectations of an 8.8% rise year-on-year. Currently, the Fed funds futures point to an 81 basis points rate hike for July, suggesting that some participants anticipate a 100 basis points hike. Several on-chain indicators have been pointing to a likely bottom in Bitcoin
According to the latest Bureau of Labor Statistics Consumer Price Index (CPI) report, U.S. inflation remains scorching hot as it has risen at the fastest yearly rate since 1981. June’s CPI data reflected a 9.1% year-over-year increase, even though a number of bureaucrats and economists thought May’s CPI data would be the record peak. US
Bitcoin (BTC) rebounded from overnight lows on July 13 as markets nervously waited for United States inflation data. Countdown to “highly elevated” inflation reveal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing from $19,250 to $19,900 at the time of writing, up 3.3% on the day. With three hours to go until the
Bitcoin (BTC) may have further to fall, but Coinshares chief strategy officer Meltem Demirors believes the top cryptocurrency will reach new all-time highs within the next 24 months. Speaking on CNBC’s Squawk Box on July 11, Demirors noted that Bitcoin has always been a “cyclical asset” with drawdowns from peak to trough at 80 to
Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has a message for investors considering cryptocurrency. “Never touch it,” he stressed, adding that everyone should follow his example and avoid crypto “as if it were an open sewer, full of malicious organisms.” Charlie Munger Reaffirms His Anti-Crypto Stance Charlie Munger, Warren Buffett’s right-hand man
The total crypto market capitalization has fluctuated in a 17% range in the $840 billion to $980 billion zone for the past 28 days. The price movement is relatively tight considering the extreme uncertainties surrounding the recent market sell-off catalysts and the controversy surrounding Three Arrows Capital. From July 4 to July 11, Bitcoin (BTC)
The bear market won’t scuttle Bitcoin’s (BTC) adoption plans in the United Kingdom. From Oct. 21–22 this year, internationally recognized Bitcoin experts, authors and content creators will take part in the United Kingdom’s largest Bitcoin conference to date. Organized by the Bitcoin Collective, a newly formed Bitcoin company, and in partnership with Bitcoin and crypto exchange OKX,
The government of Spain has announced it will issue a series of grants and aid for metaverse-related developments. The individuals and companies interested in receiving these grants will have to be based in the European Union or Spain and present a plan, and meet a series of requirements, to be considered. The first batch of
From a historical perspective, the loss in value realized across the cryptocurrency market over the past several months has been one for the record books and the total cryptocurrency market cap has declined from $3 trillion to $991 million. June was especially painful for investors after the price of Bitcoin (BTC) fell nearly 40% to
While the current bear market may be the worst on record, on-chain metrics signal that the Bitcoin network is becoming increasingly resilient, said Glassnode analyst James Check, in a recent interview with Cointelegraph. In particular, Check refers to the amount of Bitcoin holders who don’t sell even in extreme market conditions, which has become much
sponsored An Ethereum enthusiast contacted KeychainX a few months ago with a unique story. He was a part of the Ethereum pre-sale in 2014 and amassed a fantastic 1000ETH today worth about 4 million USD for a mere 300USD – an astonishing 13000x increase in value. The story began when Alex sent the KeychainX team
Asset management firms continue to fight for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States as regulators remain skeptical of the idea. Craig Salm, chief legal officer at asset manager Grayscale, discussed the firm’s lawsuit with the United States Securities and Exchanges Commission (SEC) regarding the conversion of the Grayscale Bitcoin Trust (GBTC) into
Bitcoin (BTC) experienced one of its most brutal crashes ever in 2022, with the BTC price plummeting below $20,000 in June after peaking at $68,000 in 2021. June 2022 has become the worst month for Bitcoin since September 2011, as its monthly losses mounted to 40%. The cryptocurrency also posted its heaviest quarterly losses in