The Economic Commission for Latin America and the Caribbean, or ECLAC, a United Nations’ regional commission to encourage economic cooperation, is the latest regulator to raise concerns about El Salvador’s decision to accept Bitcoin (BTC) as legal tender. ECLAC executive secretary Alicia Bárcena has warned that El Salvador’s Bitcoin move poses a number of systemic
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The highly anticipated Ethereum hard fork is expected to launch on August 4 at block height 12,965,000 according to Ethereum core developers. The London hard fork will add five Ethereum Improvement Proposals (EIPs) that aim to enhance the blockchain. However, the Berlin hard fork was postponed after a vulnerability was identified by the audit company
According to a newly released survey, up to three-quarters of Salvadorans are skeptical over President Nayib Bukele’s Bitcoin adoption plans. The survey, which polled 1,233 people across El Salvador between July 1 and 4, revealed that only 20% approved of the plan to make Bitcoin legal tender The survey, which has a margin of error
A UBS survey finds that central bankers see benefits in investing in cryptocurrencies like bitcoin. 28% see benefits from cryptocurrency being an uncorrelated asset and “11% would consider it as an alternative to gold.” Central Bankers See Benefits in Investing in Cryptocurrencies Like Bitcoin The 27th Annual Reserve Management Seminar Survey by UBS explores the
Bitcoin’s (BTC) price looks poised to retest $30,000 as traders continued to pull back from upside bets on a spell of a bearish technical pattern. Dubbed as a Symmetrical Triangle, the structure forms when an asset fluctuates between two converging trendlines. In doing so, the asset rebounds after testing the Triangle’s lower trendline as support
The Boston-based crypto financial company Circle has announced the firm plans to go public this year in a merger with Concord Acquisition Corp. Circle revealed the news on Thursday and noted that the company expects to close the deal in Q4 with a valuation of $4.5 billion. Circle Announces SPAC Deal With Plans to Go
Bitcoin’s total estimated annual electricity consumption has plummeted nearly 60%, falling from the all-time peak above 143 terawatt-hours (TWh) in May to as low as 62 TWh in early July, according to data from Cambridge Bitcoin Electricity Consumption Index (CBECI). This is the lowest energy consumption rate recorded since early November 2020. At the time
A South African regulator, the Financial Sector Conduct Authority (FSCA), has informed key figures behind Mirror Trading International (MTI) that it intends to impose a fine of $7 million against the now-defunct crypto investment company. Contravention of Financial Sector Law According to a July 6 letter, which has also been sent to the CEO and
Bitcoin (BTC) fell below $33,000 support on July 8 as a trusted trading range risked getting invalidated. Trader: $31,000 retest next for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping into the $32,000 range during trading on Thursday. The move followed an overnight retracement from around $35,000, with Bitcoin failing to crack
A U.S. congressman, Barry Moore, has declared his recent cryptocurrency purchases. He bought dogecoin, cardano, and ether. U.S. Representative Barry Moore from Alabama filed a Periodic Transaction Report (PTR) last week declaring his recent cryptocurrency purchases. According to the filing, the congressman bought cryptocurrency cardano (ADA), dogecoin (DOGE), and ether (ETH) during May and June.
Timothy Massad, who served as Chair of the United States Commodity Futures Trading Commission between 2014 and 2017, has laid out the reasons why he thinks regulators should approve a Bitcoin exchange-traded fund. In an opinion piece published on Bloomberg Wednesday, Massad said the Securities and Exchange Commission, or SEC, should approve a Bitcoin ETF
Charles Hoskinson, the founder of Cardano, has recently found himself the target of Twitter critics as year-old tweets that highlighted projections for the network’s adoption are failing to match community expectations. Slower Rollouts and Sluggish Adoption Spotlighted by Critics Cardano, the fifth-largest cryptocurrency by market capitalization and self-titled third-generation blockchain initiative, has no shortage of
Global payments giant Visa will continue to support the development and adoption of the cryptocurrency industry as part of its business, the company said in its latest crypto update. In an official statement on Wednesday, Visa announced that its crypto-enabled cards processed more than $1 billion in total spending in the first half of 2021.
Financial technology companies (fintechs) are now among the biggest threats to the overall profitability of Nigerian banks, analysts from the country’s Coronation Merchant Bank (CMB) have warned. The Efficiency of Fintech As a report carried by local media explains, this threat from fintech services stems from their growing popularity with “tech-literate” customers. According to CMB
New York-based crypto loans and savings startup BlockFi launched its Bitcoin (BTC) rewards credit card today. The card is available to select approved customers on the United States waitlist. Officially named BlockFi Rewards Visa Signature Credit Card, the card was first announced at the end of last year by Visa and BlockFi. Available to use
Troubles at cryptocurrency exchange Binance continue as the platform is now reportedly suspending euro deposits via SEPA bank transfers. Binance says the suspension is temporary and it is due to events beyond its control. Binance’s Troubles Extend to SEPA Transfers Binance users reported Tuesday that they have received a notice from the exchange about the