According To The Governor Of Bank Of England, El Salvador’s Acceptance Of Bitcoin Is A Source Of Concern.

El Salvador’s adoption of bitcoin as a country’s currency has alarmed the governor of the Bank of England, the nation’s central bank. Noting a recent warning from the International Monetary Fund (IMF) regarding bitcoin’s adoption as legal tender, the governor said what would concern him most is whether the residents of El Salvador know the … Read more

Over The Last Three Months, One Million Ethereum Has Been Burned

The London hard fork update took place a few months ago, and it included a mechanism (EIP-1559) that changed Ethereum’s fee structure to a new system that makes ether deflating. Since then, 1 million ethereum has been destroyed, which is roughly comparable to $3.8 billion in today’s exchange rates. Ethereum (ETH), the second-largest crypto asset … Read more

El Salvador Should Not Use Bitcoin As Legal Tender, According To The IMF

El Salvador has been warned by the International Monetary Fund (IMF) against utilizing bitcoin as legal cash due to the numerous hazards involved with cryptocurrencies. The warning came just one day after Salvadoran President Nayib Bukele declared his intention to establish a “bitcoin metropolis” powered by a volcano and financed with bitcoin bonds. El Salvador … Read more

El Salvador To Establish The First Bitcoin City Backed By BTC Bonds

El Salvador intends to develop the world’s first “Bitcoin City,” backed initially by Bitcoin-backed bonds, since becoming the world’s first country to accept bitcoins as legal currency in the counter, President Nayib Bukele declares, reiterating his commitment to use cryptocurrency to stimulate investment in the Central American nation. El Salvador remains at the forefront of … Read more

To Pay Victims Of Bitconnect’s Scam, DOJ Is Selling Cryptocurrency Worth $56 Million

The US Department of Justice (DOJ) is selling cryptocurrency worth $56 million confiscated from Bitconnect’s “number one promoter,” the largest crypto scam scheme ever prosecuted. Investors were duped into investing more than $2 billion. The operator of Bitconnect faces a potential sentence of 20 years in prison. The Justice Department announced that it would sell … Read more

Muslims Can’t Trade Cryptocurrency Under Islamic Law In Indonesia

The Indonesian Ulema Council Majelis Ulama Indonesia, the country’s top Islamic organization with Shariah compliance authority, has officially classified the usage of cryptocurrency as a money or trading crytocurrency is haram or prohibited under Islamic law for Muslims. The National Religious Council of Indonesia has stated that cryptocurrency does not follow Sharia teachings and should … Read more

Russia is changing 13 laws and codes for digital rubles

Russian authorities are preparing to change various laws to facilitate the issuance and operation of digital rubles. Moscow officials believe that this version of the national currency should be regulated separately from other forms of digital currency, such as cryptocurrencies. Russia is preparing to test the digital ruble, officials say CBDC needs its regulations The … Read more

MasterCard Is Planning To Offer Crypto-Linked Payment Cards In Asia

Mastercard revealed on Monday that it has launched crypto-linked payments cards in Asia, allowing users to exchange their virtual currencies into real currency immediately for the very first time. The cards are designed to bridge the gap between retailers who do not take virtual currencies and buyers who want to pay with crypto. Individuals and … Read more