Monthly Archives: July 2021

Inside Paraguay’s Proposed Bitcoin Bill

A proposed bill for regulating Bitcoin in Paraguay would require mining licenses and establish investor protections. In a WhatsApp conversation I had with Paraguayan Congressman Carlitos Rejala, he shared the draft of a bill meant to regulate Bitcoin in Paraguay. “With this we want to welcome the innovation of cryptocurrencies in Paraguay to the world,” Rejala said over WhatsApp. “This is the result of a very strong and arduous teamwork of many experts in the field, both local and foreign.” A translated version of the bill proposal […]

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Fed Chair says stablecoins need stricter regulation, speaks on CBDC

He stated that stablecoins need stricter regulations if they are to be part of the payment universe. Fed Chairman Jerome Powell told the House of Representatives today that stablecoins should face stricter regulations similar to money market funds or bank deposits.  Powell was asked specifically about Tether, currently the most valuable stablecoin, by Rep. Anthony Gonzalez (R-OH). Tether claimed each coin was backed by a dollar, but that has been proven false; rather it is backed mostly by commercial paper or debts. Powell said most of the […]

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SEC delays decision on Wisdom Tree Bitcoin ETF

The Securities and Exchange Commission has asked for comments regarding Wisdom Tree’s proposed Bitcoin ETF. On July 13, the Securities and Exchange Commission, or SEC, pushed back its decision on Wisdom Tree’s Bitcoin ETF with a request for public feedback. This request will allow members of the public to communicate their position on whether the trust should be approved or denied. The SEC’s notice stated: “The Commission requests that interested persons provide written submissions of their views, data and arguments with respect to the issues identified above, […]

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Dolce and Gabbana to launch of an exclusive NFT collection

Dolce and Gabbana announced the first in a line of NFTs in partnership with luxury marketplace UNXD. Fashion and Luxury brand Dolce and Gabbana has announced the launch of an exclusive NFT collection in collaboration with UNXD — a digital marketplace powered by the Polygon Network which hopes to become an exclusive marketplace for digital luxury and culture. The fashion brand’s debut NFT collection will be named Collezione Genesi, or Genesis Collection. Dolce and Gabbana will feature the collection at it’s upcoming shows for Alta Moda, Alta […]

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Record low Bitcoin velocity suggests BTC may ‘move to the downside’

Weekly Bitcoin transactions and velocity hit record lows, leading one analyst to suggest that even with BTC stable at $33,000, further downside could ensue. In the early hours of July 14, Bitcoin price took a surprise hit to $31,550 before slowly recovering back above $32,900 in the morning session.  The swift drop near the crucial $30,000 resistance raised alarms among bulls and bears and whilst the $30,000 to $32,000 level continues to function as a support level, a recent market update from ByteTree CEO James Bennett paints […]

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Internet Company The9 Reveals Hosting Partnership With Russian Bitcoin Miner Bitriver

During the first week of April, the publicly-listed gaming and internet company The9 Limited revealed its intentions to purchase 2,000 Avalonminers from the manufacturer Canaan. On Monday, The9 announced it has signed a hosting agreement with the Russian-based firm Bitriver as the company will leverage 15 megawatts (MW) of Bitriver’s capacity for two years. The9 Teams Up With the Bitcoin Mining Operation Bitriver The9 Limited (Nasdaq: NCTY) has explained its plans to collaborate with the bitcoin mining company from Moscow, Bitriver. As part of the agreement, both […]

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The Next Generation of Attorneys: Three Reasons Why Law Schools Should Be Teaching Bitcoin To Students

Why it’s important for academia to teach our future generation of law students about Bitcoin and digital money technologies. As the COVID-19 pandemic forced many lawyers to work remotely, more law school students are signing up for legal tech courses to enhance their abilities in a rapidly evolving job market. The pandemic certainly presented a new challenge for the legal landscape, as courtrooms and firms just weren’t prepared to go remote and were forced to adopt new digital technologies as basic as Zoom and Microsoft Teams. With […]

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What Is A “Carbon Negative” Bitcoin Block Anyway?

A bitcoin miner has been presenting its blocks as “carbon negative.” But what does that mean for its energy use? This is a guest post from Luxor’s Hashrate Index. A miner with roughly 1 exahash (EH) of Bitcoin’s hash rate is advertising its blocks as “carbon negative.” So, how can a miner produce work and leave a negative carbon footprint, seemingly reversing entropy? Well, the short answer is, of course they can’t, but how can they claim carbon negativity at all? The miner has been blazoning its […]

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Exchange Providers Halt BSV Services as Mining Pool Captures 78% of BSV Network Hashrate

The cryptocurrency community has been discussing the Bitcoinsv network as a mining pool called Taal has well over 51% of the hashrate. Data from the analytical crypto website Coin Dance shows the mining pool Taal commands over 78% of the network’s hashrate during the last 24 hours. On Tuesday, the European cold storage provider, Gravity, says it has suspended bitcoinsv trading “due to several large exchanges disabling BSV deposits [and] withdrawals.” Following Blockchain Reorganization Attack Last Week, Taal Captures Well Over 51% of the Bitcoinsv Network’s Hashrate […]

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Price analysis 7/14: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

Bitcoin and most major altcoins are bouncing off strong support levels, indicating possible accumulation by the bulls. Bitcoin (BTC) has once again held the critical support area at $31,000 today, indicating accumulation at lower levels. This led some analysts to speculate that traders were selling their holdings to investors with a low history of selling in anticipation that “a supply shock” to occur when the re-accumulation process completes. Another sign of strong hands entering the crypto market was seen when Capital International Group, a $2.3 trillion asset […]

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