Cryptocurrency

As the crypto market continues to reach new heights, it's more than just investors interested in the power of blockchain technology. Governments and critical financial institutions recognize the benefits of cryptocurrencies, such as higher efficiency and streamlined payments. As such, Central Bank digital currencies (CBDCs) have started to emerge across the globe. A recent survey revealed that around 10% of central banks are on the verge of issuing some form of centralized cryptocurrencies. Unlike cryptocurrencies designed to provide a reliable…

A recent report reveals that the Financial Services and Markets Authority (FSMA) in Belgium wants to ensure that digital currencies undergo government regulations.  The FSMA Chairman, Jean-Paul Servais, insinuated that Belgium's lawmakers should develop a legal guide to control the purchase, sale, and use of digital currencies. These guidelines are not just to guide digital currencies but any other financial products.   Servais' remarks came on February 10 in a senate hearing. He explained that it's time for the Belgian government…

Reuters reports that Japanese lawmakers have lobbied their government to push for the inclusion of discussions on digital currencies at the G7. They have asked the government to convince the United States (the leader of the summit) to amend the meeting's agenda to include the topic. Akira Amari, Japan's Minister for Economic Revitalisation, averred that it was crucial to draw the United States' backing for the topic. Mr Amari maintains that the two nations need to join efforts in making…

Recently, there is a rise in women and children trafficking in the United States. However, critical observation of human trafficking is currently ongoing. The US lawmakers, and the Department of Justice under the Attorney General William Barr, are considering the prohibition of cryptography. Barr is against end-to-end encryption and believes human traffickers highly depend on digital communication and the internet, and these perpetrators should get detected and addressed. Barr also pointed out that digital proof is undergoing encryption and that…

There has been a constant breakthrough in the news about organizations and individuals being scammed or robbed of their digital currency holdings. Digital Currency, in general, is a developing and scam-intensive area. People are still trying to find their way across all the complexity. Thus, in light of these events, we consider it our duty to help our readers figure out their Crypto Adventure. What is Scamming? Scamming is the elaborate process of taking advantage of uninformed individuals or organizations…

In an unprecedented move,  The United States SEC has today January 21, 2020, approved an application by Grayscale Bitcoin Trust to be its reporting firm. The move comes after the firm's parent company, Grayscale Investments, filed for its subsidiary's registration with the SEC two months ago.  This action effectively makes Grayscale Trust the pioneering crypto investment entity conferred with that honor. Taking  to Twitter to confirm this news, the firm announced, " Grayscale Bitcoin Trust hits yet another incredible milestone:…

South Korea finance officials plan to implement a twenty percent tax on income from cryptocurrencies. Currently, definite laws to tax crypto profits do not exist in the country. A report by Korea Herald stated that the country’s ministry of economy and finance had authorized the office of income tax to look into a taxation plan, which made people speculate that the authorities could classify gains from crypto trading as other income. As per the government official, the finance ministry is…

The cryptocurrency domain is fearful about bank-issued cryptos replacing Bitcoin as well as altcoins. Nevertheless, to ascertain the validity of the fear, it is necessary to consider some facts. First, bank-issued cryptocurrencies will be in charge of those who receive the cryptocurrency units and their purpose. On the other hand, Bitcoin is a decentralized currency. Bitcoin holders can determine its purpose and enable its use for the payment of goods and services, forwarded to people through remittance platforms, or one…

Crypto enthusiasts keen on trading at the best possible prices from the entire crypto market can now be delighted: SWFT Blockchain just released the Octopus Trade, which is the answer to all their worries. Everybody is searching for the best price when trading cryptocurrencies, and that is both exhausting and difficult. The first step any crypto enthusiast will do is to research multiple exchanges while searching for the best price. When you finally identify the best price out there, you…