As the private cryptocurrency spreading its legs in the emerging markets, International Monetary Fund (IMF) warned against "cryptoization" of local economies, potentially undermining exchange and capital controls and upsetting financial stability" on October 1. IMF added, "Crytoization could also become a threat to fiscal policy, with digital assets possibly facilitating tax evasion". Reportedly, India, Vietnam, and Pakistan have registered a… read-more
Nayib Bukele, the President of El Salvador, announced on September 6 that Salvador bought its first 200 bitcoins. On September 7, El Salvador is likely to legalize bitcoin & accept cryptocurrency as legal tender. This move is expected to bring more people… read-more
Honduras, a country in Central America has installed its first Cryptocurrency ATM machine as the demand for digital currency is growing around the world. The machine called la bitcoinera can be used by the customers to obtain cryptocurrencies like bitcoin and ethereum using the country's official currency lempira. The device was installed by the Honduran firm TGU Consulting group in the capital city of Tegucigalpa.
Courtesy: Business Today
In what is being termed as the biggest "cryptocurrency heist", more than $600 million digital currency was stolen by breaking through blockchain-based platform Poly Network on August 10 stole. Poly Network expects hackers to "establish communication" while at the same time telling them to return the stolen amount. "We are sorry to announce that #PolyNetwork was attacked," the company tweeted.
Bitcoin and Ether reached fresh highs in two months, after uncertainty over cryptocurrency rules in the United States. The prices of Bitcoin soared as much as 3.1% to $45,328, while Ether increased as much as 3.5% to $3,191. "Concerns about China’s crackdown and Elon Musk-fueled questions about Bitcoin’s energy usage", as per reports. However, experts believe that the fluctuations in the crypto market may prolong.
Following Britain's decision to launch their own digital money, Nigeria's central bank governor has now revealed plans to launch the country's own digital currency named 'e-naira' in October. Governor Godwin Emefiele stated that e-naira will work as a wallet where customers can save their funds. Nigeria in February had prohibited all the banks and monetary institutions to trade in cryptocurrency such as dealing or facilitating transactions.… read-more
Courtesy: US News
After China testing its own Central Bank Digital Currency (CBDC), UK has now decided to regard Britcoin as their own digital currency suspending physical cash under the supervision of Chancellor Rishi Sunak. Backed by the Bank of England, the currency would help stimulate the economic growth of Britain. Reportedly, the digital currency would "slash cost and time it takes to make payments online and transfer money".
Courtesy: Daily Mail Online
Akshay Gowda, a 25-year-old man was arrested by Hyderabad Cyber Crimes police on July 24 for cheating and stealing from Bitcoin Traders. The Joint Commissioner of Police Avinash Mohanty said that Gowda was arrested after a complaint was filed by one of his victims. Reportedly, he sold bitcoins after getting money transferred to his account. Meanwhile, the police have advised, "people to verify the credentials of online bitcoin traders."
Courtesy: The Hindu
Elon Musk Tesla’s CEO has acknowledged owning a few bitcoins,dogecoins, and ethereums at B Word Conference organised by Crypto Council for Innovation. He further, ingeminated the environmental concerns in correspondence to cryptocurrencies. Moreover, Musk included Tesla might continue tolerating Bitcoin as a form of transaction for its cars, after keeping a close focus on total renewable energy used in mining cryptocurrency. “I would like to… read-more
Courtesy: Money Control