The UK’s Sun newspaper is touting the ‘World’s first Bitcoin city’ today, where all cash is banned. Backers of the venture hope that Melaka Straits City in Malaysia will attract 3 million crypto-tourists per year. Take Me Down To The Bitcoin City… Visitors will be able to exchange their normal money for digital currency when they arrive. proclaims The Sun. Or “just use the digital currency they already own,” you might suggest – but you’d be wrong. Melaka isn’t so much a ‘Bitcoin Read more …
The Information Technology & Innovation Foundation (ITIF) released recommendations for policymakers on how to regulate blockchain technology on April 30. Founded in 2006, ITIF is an independent nonprofit institute that provides policymakers with information, analysis and recommendations for handling new technology. In its new guide, ITIF included an array of proposals for policymakers to better regulate blockchain based on principles like technology neutrality and public-sector adoption. The guide predicts that blockchain will likely factor into major applications such as cryptocurrencies, Read more …
At the start of April, Bitcoin rallied over $1,000 in the matter of an hour, giving crypto investors their first taste of bullish momentum since the start of 2019. The rally was enough to cause traders and analysts alike to call the bottom as “in” and claim that a new uptrend was confirmed. However, breaking news last week that the New York Attorney General’s office is accusing Bitfinex of using Tether reserves to hid a loss of $850 million has Read more …
Although Bitcoin incurred some downwards pressure late last week after news surrounding the Tether-Bitfinex imbroglio surfaced, BTC now been able to tepidly advance higher, and has led the entire crypto markets to surge. Despite finding stability in the lower-$5,000 region, analysts are now expressing somewhat cautiously bearish sentiments regarding the current state of BTC and expect altcoins to be the cryptos that incur further gains in the near future. Bitcoin (BTC) Advances Above $5,300 At the time of writing, Bitcoin Read more …
By CCN: Dave Ramsden, deputy governor for markets and banking at the Bank of England, said in an interview with CNBC that crypto assets like bitcoin are too volatile to be a store of value and they do not meet the principles of currency. Citing the research of the Financial Policy Committee (FPC), Ramsden stated that the high volatility and the relatively high costs of crypto transaction settlement make cryptocurrencies less practical as currency. Volatility Could be an Issue for Read more …