Monthly Archives: April 2020

Bitnomial Has New Permission To Trade BTC Derivatives

US traders have one more place where they can place bets on the future price of BTC. It’s becoming a little more common for exchanges to have the government’s blessing to trade BTC derivatives. Bitnomial Exchange is the latest to join this mostly private party, having received a so-called “order of designation” from the Commodity Futures Trading Commission (CFTC), granting it the status of a designated contract market. This means Bitnomial joins names like Bakkt, CME, LegerX, and CBOE — the few companies who are already trading […]

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BABB Launches Cash-Out Fiat Gateways in 36 New Regions

The app will enable users to convert fiat currency into BABB’s native token throughout Europe, which can be sent abroad. Crypto wallet banking and donation app BABB has announced on April 20 that they have incorporated a cash-out fiat gateway with GBP/EUR conversion in 36 countries in Europe. According to the official announcement, users can convert fiat currency (£/€) into BAX, which is the BABB’s native token, and then be sent without having to go through interbank networks, in addition to not carrying FX conversion fees. The tokens […]

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Oxford Law Says World Needs Crypto Regulation to Prevent Financial Meltdown

Oxford law researchers argue that crypto market regulation is necessary to prevent systemic risk in times of crisis. The recent phenomenon of people moving their assets into crypto as a safe haven in responding to the financial crisis has drawn the attention of the academic world.  Per an Oxford University Law Faculty blog post from April 17, researchers have observed that crypto trading could pose a threat to traditional finance and it should be strictly regulated in the times of crisis to prevent systemic risk to the […]

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Americans Purchase $1,200 Worth of Bitcoin, While 7 Banks Fumble With Stimulus Payments

For years now, bitcoiners and cryptocurrency proponents have said the antiquated banking system will not continue to survive for very long and the financial system is showing massive cracks these days. The recent stimulus check fiasco is a prime example of the issue, as customers from PNC, JPMorgan Chase, US Bank, and Capital One have been complaining about technical issues. Moreover, circumstantial evidence shows that a decent number of people who got their stimulus money have spent the funds on cryptocurrencies. The Antiquated Banking System Struggles With […]

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Congress and IRS Virus Relief Allow Loss Carrybacks, Tax Refund Claims

In response to the coronavirus pandemic, the IRS is updating some important guidelines and procedures to make them easier. Many investments these days seem volatile, but there are few asset classes that have been as volatile as crypto. If you have losses, you might have trouble claiming them, offsetting gains or reducing your income. In fact, asking if you have tax losses or even expecting some sounds like a silly question. How losses are treated under the tax law is an important and complex question. In general, […]

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Huobi Mints $4.2 Million in Stablecoins — Is It a 4/20 Coincidence?

Huobi’s HUSD minting amount of $4.2 million coincides with April 20 day. Today, April 20, Huobi has reportedly minted some 4,200,000 HUSD worth $4.2 million. According to data published by Whale Alert, this minting occurred around 7:30 GMT. Social media reactions saw users note this number’s similarities to today’s date — the 20th day of the fourth month. HUSD has been mostly inactive since launch The stablecoin has not seen much trading volume since its launch in 2018, but it was reactivated on February 7 of this […]

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People Spend More Crypto on Food and Clothing Than on Illegal Drugs

A survey of people familiar with crypto shows a stark contrast between public perception of crypto’s utility and what it is actually used for. A survey published by research firm Visual Objects has found food and clothing purchases to be the most common use cases for cryptocurrencies. The findings highlight a significant disparity between the perceptions and reality of how cryptocurrency is used. Many who responded to the survey said the top use cases for crypto were trading and illicit activities. The survey gathered this data from […]

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Price Analysis 4/20: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK

Many major cryptocurrencies are not seeing follow up buying even after breaking out of resistance. This points to consolidation or a minor dip in the next few days. WTI crude oil price today plunged over 92% to hit an intraday low of $1.1 per barrel at press time, a level which none of us would have even imagined to see just a few months back. This year alone, the asset class is down by over 98%. Excess production, a sharp drop in demand due to the ongoing […]

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Cryptocurrency Markets Moved by Regulatory Actions, Federal Reserve Bank Paper Shows

The Federal Reserve Bank of Dallas has published a paper showing how cryptocurrency markets are affected by crypto regulatory actions. The research also determines whether the authorities have some scope to make cryptocurrency regulation effective. Influencing Cryptocurrency Markets and Prices Last week, the Federal Reserve Bank of Dallas published a working paper entitled “Cryptocurrency Market Reactions to Regulatory News.” The 18-page report is an updated version of a paper by the same authors previously published by the Bank of International Settlements (BIS). It is co-authored by Raphael […]

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Next-Generation Bitcoin Mining Hardware Arrives Just In Time For BTC Halving

MicroBT has unveiled its coming series of 100 TH/s miners for the post-halving block rewards, igniting competition with Bitmain. Bitcoin (BTC) ASIC manufacturer MicroBT has revealed its new mining hardware, boasting a hash rate of 100 terahashes per second (TH/s). This product unveiling demonstrates that competition is heating up among major ASIC manufacturers, following Bitmain’s pre-sale of its S19 Antiminers. MicroBT’s forthcoming M30 series of Bitcoin miners, the MS30S++ and the MS30S+, were revealed to 4,000 attendees of an online launch event on April 17. The company […]

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