Crypto

Square Crypto, announced the awarding of new grants to 2 BTC developers as per a Medium post. This Bitcoin development initiative is a product release of Square Inc, owned by Jack Dorsey.  A Bitcoin Core contributor and protocol researcher, Jon Atack, and the prominent BTC developer, Tankred Hase are the recipients of these grants. Hase has been working on enhancing the user experience while simplifying the self-custody of smaller amounts of BTC. The developers are to utilize the grants towards…

For privacy and security purposes, the Exodus 5G Hub harbours services like VPN and crypto-oriented Brave browser. Nevertheless, the feature that genuinely makes the new HTC release stand out is its ability to directly run a Bitcoin node. Additionally, this new product is set to help users manage their cryptocurrency holdings with the backing of the topnotch Zion Vault wallet. The Vault, which comes as a pre-installed app on HTC Exodus, supports several coins including Bitcoin (BTC), Binance Coin (BNB)…

Facebook has revealed its intentions to make some key re-designing of its Libra project. The 3rd March 2020 announcement aims to make the network compatible with multiple coins, including some issued by various central banks. This effort is an attempt to entice reluctant financial regulators in Europe and the US as well as revitalize its project's momentum. Libra Reorganizes Due To Opposition  At the dawn of the Libra project's launch, the social media giant outlined the project's main goal as…

A banking ban by the Reserve Bank of India (RBI) on crypto in India has finally been lifted by the country's Supreme Court. The Supreme Court ruled this RBI decision to ban crypto in an ongoing case as unconstitutional. The Court concluded its hearing on the case on the 28th of January 2020, after more than a year of hearing proceedings. An extensive hearing of the arguments by the counsel for the Internet and Mobile Association of India, Ashim Sood…

The Federal Financial Supervisory Authority (BaFin) recently published guidelines under which crypto is a financial instrument. Regarding a press release on March 2, BaFin described crypto as a digital representation of value that is not issued or guaranteed by any central bank or authority. He added that the currency established by law does not tie cryptocurrencies. Hence, they do not have the legal status of currency or money. However, BaFin treats crypto as a medium of exchange accepted by individuals…

On the 2n of March 2020, the National Bank of Fujairah (NBF) announced its partnership with Ripple, a leading blockchain remittance company. The deal aims at allowing seamless cross-border payments through the RippleNet platform. Additionally, RippleNet will enable NBF’s customers to conduct and secure real-time payments with clear end to end tracking of transactions. Vince Cook, the National Bank of Fujairah CEO, noted that banks have to act with agility and look for new and improved methods to provide services…

On the 3rd of March 2020, the US treasury met with industry leaders and finance watchdog experts to debate about supervisory and regulatory challenges facing digital assets, including cryptocurrencies. Steven T. Mnuchin said that the US welcomes responsible innovation that may improve the financial system's efficiency. He added an urgent need to protect the US national security and maintain the integrity of the financial system. Additionally, the treasury focuses on preventing the misuse of digital currencies by money launderers, terrorist…

The deputy governor for the Bank of England (BoE), Jon Cuncliffe, warned that the crypto economy’s exponential growth might weaken or end bank credit issuance. Cuncliffe pointed out this while delivering a speech at the London School of Economics on the 28th of February. Cuncliffe stated that BoE’s role is to ensure that the UK’s money works safely and reliably. The BoE official predicted that the integration of stablecoins on social media platforms, including the Libra project, could result in…

Binance recently announced its partnership with the largest Turkish Bank, Akbank. Binance is a top crypto exchange in terms of volume. The collaboration will allow Turkish users to withdraw and deposit Turkish Lira (TRY) instantly on Binance through desktop and iOS App with low fees. Earlier, Binance announced support for the Turkish Lira on its platform for Turkish citizens. Zhao’s Views on Akbank Integration with Binance Changpeng Zhao, Binance CEO, pointed out that the exchange is expanding the available options…