Monthly Archives: February 2021

ECB wants final say on the legal status of private stablecoins in the EU

The European Central Bank has demanded veto power from lawmakers in the European Union over private stablecoin projects like Diem. The European Central Bank has finally sent its formal opinion on crypto regulations to the European Commission. According to Reuters, the ECB has asked EU lawmakers for veto powers concerning private stablecoin projects like the Facebook-backed Diem. An excerpt from the ECB opinion document reads: “Where an asset-reference arrangement is tantamount to a payment system or scheme, the assessment of the potential threat to the conduct of monetary […]

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Tether to report reserves and pay $18.5M fine after settlement with NYAG

New York regulators are forcing Tether to be fully transparent about its reserves, at the cost of not serving New York residents. Bitfinex and Tether settled with the New York Attorney General office in the landmark case against Tether. New York authorities alleged that Tether misrepresented the degree to which Tether (USDT) coins were backed by fiat collateral. The settlement requires Bitfinex and Tether to pay $18.5 million for damages to the New York State, as well as submit to periodic reporting of their reserves. The terms […]

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Swedish regulators warn consumers against crypto as markets tumble

Sweden’s financial regulator thinks retail investors should stay away from financial products that have volatile cryptocurrencies as their underlying asset. Sweden’s financial regulator, Finansinspektionen, or FI, has issued a fresh warning to retail traders about the high risks and low consumer protections associated with crypto-related investments. In an announcement published on Feb. 22, the regulator wrote that while it had already issued a warning regarding the risks associated with Bitcoin (BTC) trading, it was publishing further advice following its completion of a wider study of the crypto asset […]

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Air France pilots blockchain-based COVID-19 travel system

Air France is set to trial a blockchain-based system for verifying COVID-19 test results for its passengers. With travel and tourism being one of the hardest-hit industries by the coronavirus pandemic-induced lockdowns, several stakeholders are increasingly prioritizing digital and contactless solutions. In this vein, Air France has partnered with MedAire, SGS, International SOS, and the International Chamber of Commerce to test a blockchain-based COVID-19 travel system. Beginning from March 11, Air France will begin the pilot test of the ICC AOKpass system developed by MedAire and the […]

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Bitcoin mining operator Northern Data reportedly considering $500M IPO

Swiss investment bank Credit Suisse is reportedly backing German Bitcoin mining operator Northern Data in its $500 million IPO. Major European Bitcoin (BTC) mining company Northern Data is reportedly considering going public in the United States. Germany-based Northern Data is planning to raise up to $500 million in the initial public offering, or IPO, Bloomberg reported on Feb. 22. The company is working with Swiss investment bank Credit Suisse to proceed with the IPO, anonymous people familiar with the matter told the publication. According to the report, the […]

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Bitcoin Dipped Today, Here’s Why

discussing the stock and crypto dip that occured today on monday and what may have happened. also xrp and moneygram partnership is put on hold during SEC drama. Social Media: Support Me On Patreon: https://www.patreon.com/mrsotkogaming Follow me on Twitch: http://www.twitch.tv/mrsotko Follow me on Twitter: https://twitter.com/MrSotkoGaming Follow me on Instagram: https://www.instagram.com/mrsotko/ Discord: https://discord.gg/r2Yf8Ae Litecoin donation address: LZaQgPhBvQT6PC2gAnLsQGPPaYDPm5dyNx Ethereum only donation address: 0x125DE6B8FAb078701e0b11ECb1A6bDF3aF9E73dc Bitcoin donation address: 144vfND4SGhYxyjAWKHBETGncuwdYKmoyG BAT Donation Address: 0xC868a8322A714Bd506aB27768a3DDb9D4d2228Cd Sign Up To Coinbase For $10 Free in BTC – https://www.coinbase.com/join/pittse_d Sign Up To Kucoin To Trade Crypto […]

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$5.64 billion liquidated in 24 hours as Bitcoin extends losses — Is a relief rally near?

A staggering $5.64 billion worth of futures positions was liquidated in the last 24 hours as the price of Bitcoin dropped 17%. The price of Bitcoin (BTC) plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board. Liquidations occur when leveraged futures positions fall to a certain threshold. For example, a position using 10x leverage would get liquidated or turn worthless if the price of BTC drops by 5%. What triggered the mass Bitcoin liquidation fest? If […]

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Major Asian banks unite to form ‘multiple’ CBDC pact on blockchain

Some of Asia’s largest banking institutions are working together on a “multiple” CBDC project, designed to cross borders and navigate regulations easier than fiat. Several major banks across Asia have joined forces to construct a cross-border central bank digital currency, according to a joint announcement issued on Feb. 23. Dubbed the Multiple Central Bank Digital Currency Bridge — or m-CBDC — the project sees the Hong Kong Monetary Authority, the Bank of Thailand, the Central Bank of the United Arab Emirates, and the Digital Currency Institute of […]

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Janet Yellen Warns Bitcoin Is ‘Extremely Inefficient’ and ‘Highly Speculative’ as BTC Price Plunges

U.S. Treasury Secretary Janet Yellen has warned about the dangers of bitcoin as the price of the cryptocurrency took a nosedive. She sees bitcoin as a highly speculative asset and is worried about potential losses investors can suffer. Yellen also believes that bitcoin is not widely used as a transaction mechanism due to its inefficiency, reiterating her view that the cryptocurrency is often used for “illicit finance.” Janet Yellen’s Warning About Bitcoin Janet Yellen has blasted bitcoin again Monday in an interview with CNBC at the New […]

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State Bank of India joins JPMorgan’s blockchain payments network

A major government-owned bank, the State Bank of India, has become the first Indian bank to join JPMorgan’s blockchain network Liink. The State Bank of India, or SBI, a major Indian government-owned bank, is looking to improve cross-border payments with a blockchain solution by American investment bank JPMorgan Chase. According to a Feb. 23 report by The Economic Times, the SBI has joined Liink, a new blockchain-based interbank data network developed by JPMorgan. By integrating the technology, the bank expects to reduce transaction costs and improve cross-border […]

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