All eyes are on Bitcoin (BTC), as the largest cryptocurrency shot up past $40,000 on June 14. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once more miners confirm green energy initiatives. Yet while Musk’s tweet may have driven the price of
Bitcoin remittances to El Salvador jumped more than fourfold in May from the previous year, according to data from blockchain analytics firm Chainalysis. Last week, El Salvador passed a bill making bitcoin legal tender in the country alongside the U.S. dollar. The monthly bitcoin transfers of under $1,000 to El Salvador totaled $1.7 million in
South Africa’s financial regulators are laying the groundwork for the “phased and structured” regulation of cryptocurrencies. The move presents a reversal of the largely hands-off approach taken for the past seven years and has been driven by increasingly high levels of retail interest in crypto in the country. In a position paper published on June
Investors tend to define the market as either bullish or bearish, but sometimes the price can remain within a specific range for an extended period. This type of sideways movement is not necessarily stable because cryptocurrency markets have high volatility that stems from a range of uncertainties and the early adoption cycle. For example, investors
Bitcoin (BTC) passed $40,000 on June 14 as a consolidation period snapped to unleash a solid breakout. BTC price breaks out past $40,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 3% in under an hour, reaching $40,500 on Bitstamp. The largest cryptocurrency capitalized on upside which resulted from a new positive tweet from
Paolo Savona, the chairman of the Commissione Nazionale per le Società e la Borsa (Consob) — Italy’s securities regulator — has raised alarms over crypto’s growing popularity in the absence of firm regulatory standards. According to Reuters, Savona made this position known while delivering Consob’s annual report on Monday stating that the lack of clear-cut
The G7 leaders have called on Russia to urgently “identify, disrupt, and hold to account” ransomware hackers and those abusing cryptocurrency to launder ransoms. “We reiterate our interest in stable and predictable relations with Russia, and will continue to engage where there are areas of mutual interest,” the G7 leaders said. G7 Nations Ask Russia
Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin and other crypto assets until prompted to do so by customer demand, likely creating a
A cryptocurrency ban is not the right solution for the Netherlands, the country’s finance minister reportedly said after a local official called for a total ban on crypto. The Netherlands should regulate the cryptocurrency market instead of prohibiting its citizens from using crypto entirely, Dutch minister of finance Wopke Hoekstra stated, according to a Friday
The Lebanese pound dropped to a new low on Sunday against the greenback trading in the low 1,500s range to the U.S. dollar. Lebanon’s currency has been in a downward spiral since 2019, as the pound has lost 90% of its value since then. Reports note that Lebanese citizens are facing shortfalls on basic goods
Bitcoin’s (BTC) price continues to be range-bound between $30,000 and $40,000 level for the past few days, which is not necessarily a bearish sign. Generally, after a sharp fall, the price tends to consolidate as the asset transfers from weaker hands to stronger hands. After the transition is complete, the asset breaks out and starts
The United States Internal Revenue Service classifies crypto as property, meaning you can trigger taxes every time you use crypto to buy something. You might be using it to pay for a Tesla electric vehicle — oh, sorry, that’s not possible anymore — a cup of coffee or even a castle in Europe. You might
Investment bank JPMorgan Chase has warned of a further bitcoin price decline, expecting an incoming bear market. The bank’s analysts look at the trend in bitcoin futures and see “an unusual development and a reflection of how weak bitcoin demand is at the moment from institutional investors.” However, a number of people disagree with this
Bitcoin (BTC) is still below a key moving average and that is “not a bullish sign,” says a new report, but signs of a rebound have finally arrived. In its latest market update released on June 11, trading suite Decentrader highlighted three on-chain indicators calling for an imminent bullish continuation for BTC/USD. Indicators echo March
From QR code payments to mobile banking apps, consumers worldwide are increasingly reliant on digital payment solutions, especially as mobile technology becomes more ubiquitous. Government-led efforts in driving cashless economies have been a key factor, with countries such as Singapore or the Philippines seeing their central banks driving the adoption of contactless payments during the
It’s fun to talk about nonfungible tokens, or NFTs, because they are the perfect example of how the impact of blockchain technology in people’s lives goes way beyond the financial market. As we could see in hundreds of headlines in the past few months, they have gripped the world’s attention because they are a new