Tag: bitcoin news

Categories
Bitcoin Bitcoin Investment Bitcoin Wallet Cryptocurrency Investment Cryptocurrency news

Kraken donates $ 150,000 in Bitcoin to the Black Bitcoin Billionaire Group

The bitcoin exchange gave the group a concession earlier this summer, totaling 4.5 BTC at the time.

Kraken announced a $ 150,000 Bitcoin Black Bitcoin Billionaire pool focused on diversity.

The dealership was ordered earlier this summer for a total value of 4.5 BTC.

Black Bitcoin Billionaire will invest funds in capacity building projects and services in the black tech community.

Bitcoin Exchange Kraken has announced a $ 150,000 donation to Black Bitcoin Billionaire, an organization focused on promoting inclusion and diversity in the Bitcoin space. The grant was ordered earlier this summer, according to Bitcoin magazine, for a total value of 4.5 BTC.

“Our main goal is to educate and support the Black Bitcoin community,” Lamar Wilson, co-founder of Black Bitcoin Billionaire, said in the announcement. “By working with companies like Kraken, we will be able to invest in technology that turns ideas into tangible products or services. We couldn’t be more excited. “

The group will use the funds received at its discretion, Kraken said, to fund projects by Bitcoin entrepreneurs from minority communities. The donation will support Wilson and Isaiah Jackson, also a co-founder of Black Bitcoin Billionaire, to launch a series of three Tech Demo Days, a competition to provide financing to black tech companies.

“In 2020, about 13% of black families in the United States did not have a bank account. This is a huge loophole in our legacy financial system, for which there is no public alternative of last resort, “Kraken CEO Jesse Powell said, according to the announcement.

“Not having a bank is expensive and disproportionately affects our poor and minority communities. Bitcoin offers relief to the 1.7 billion unbanked adults around the world – a new financial system created by the people, for the people. The only obstacle now is education, ”Powell added.

Categories
Bitcoin Bitcoin Investment Crypto Mining Cryptocurrency Investment

U.S. Bank Launches Crypto Custody Services Amid Strong Demand From Institutional Clients

The US bank has launched its cryptocurrency custody services. “Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years,” the bank said.

US Bank Now Live Custody Encryption Services

The US bank announced Tuesday that its cryptocurrency escrow services are now live and available to its Global Fund Services clients.

U.S. Bancorp, with nearly 70,000 employees and $ 559 billion in assets as of June 30, is the U.S. holding company. Bank, the fifth largest bank in the country. The Minneapolis-based company serves millions of customers locally, nationally and globally. As of June 30, the US bank Wealth Management and Investment Services had more than $ 8.6 trillion in assets under custody and management and $ 282 billion in assets under global management.

Ad details:

The services are aimed at privately funded institutional investment managers in the United States or the Cayman Islands who want an escrow solution for bitcoin, with additional support for future currencies.

“NYDIG, a leading Bitcoin financial services and technology company, is the first crypto sub-custodian announced on the bank’s provider network,” he adds. The New York Digital Investment Group (NYDIG) is the bitcoin investment arm of Stone Ridge Asset Management.

Gunjan Kedia, Vice President of Investment Services and Wealth Management, U.S. Bank said:

Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years. Our institutional custodian and our fund clients have improved their cryptocurrency offering plans and, in response, we have made it a priority to accelerate our ability to offer escrow services.

The US bank first established its blockchain and cryptocurrency practice in 2015, when the price of bitcoin was below 200. The price of BTC currently hovers around $ 50,000.

The bank announced the launch of three cryptocurrency offerings in April to meet “growing customer needs.” The first was the guard duty, which is now active. The second was an investment in Securrency, a developer of institutional-level financial and regulatory technology based on blockchain. The third was that the US bank had been selected to manage NYDIG’s bitcoin ETF this year, pending regulatory approvals.

Categories
Bitcoin Bitcoin Investment Cryptocurrency Investment Cryptocurrency news

Salvadoran President Nayib Bukele says citizens who pay for gasoline with Chivo Wallet will receive a discount

Salvadoran President Nayib Bukele revealed on Friday that Chivo wallet users will be able to benefit from a discount on refueling at the country’s largest service stations. Chivo wallet users who pay for fuel will save $0.20 per gallon using the government’s encrypted wallet.

Salvadoran President Nayib Bukele’s government subsidizes the country’s gasoline market

After Salvadoran President Nayib Bukele unveiled the volcano-fueled bitcoin mining facility last week, Bukele informed his Twitter followers of two positive implementations the government has adopted. To begin with, Bukele explained that he signed a decree authorizing a fund to stabilize gas prices in El Salvador. He noted that an increase in gasoline prices was expected, but his decree halted the increase.

In fact, gasoline prices will be “slightly reduced,” Bukele said. “The government is going to absorb the increases that have been taking place in the international market for a year,” said the Salvadoran president. “If there is any reduction, it will be passed on directly to the consumer in the price of LPG cylinders (of all existing brands in our country),” added Bukele.

The president also said that families that already receive the gas subsidy will continue to benefit from the aid and, as gas prices will not increase, they will see reductions. “This will not only ease the pockets of families, but also small businesses, thus helping to strengthen our economy, and the most vulnerable sectors ​​will also benefit from our country’s economic growth,” said Bukele.

Chivo Wallet users will save $0.20 per gallon

After these statements, Bukele explained that Bitcoin Chivo wallet users will be able to get a discount on gasoline per gallon on refueling.

The guidelines for this new discount are unclear, but Bukele said several of the country’s largest gas station companies would reduce the price of gas per gallon by $0.20 if a customer uses the Chivo gas wallet app to pay . He also shared some ads that were showing some of the participating gas stations. Bukele said:

State-owned Chivo negotiated with the largest gas station companies in our country, so that starting tomorrow these stations sell each gallon of fuel at US$ 0.20 cheaper, with Chivo's portfolio.
Categories
Bitcoin Bitcoin Wallet Crypto Mining Cryptocurrency news Investment News

Uzbekistan warns citizens to avoid unlicensed cryptocurrency exchanges

A government agency in Uzbekistan has published a list of unauthorized cryptography changes that Uzbekistan residents have been urged to avoid. Trading platforms collect personal data and are not responsible for cryptocurrency transactions, authorities warned.

Uzbekistan authorities on the blacklist of “unofficial” cryptocurrency exchanges

The National Project Management Agency of the President of Uzbekistan has identified a number of online platforms that offer unauthorized encryption services. During an internet surveillance campaign, the organization reported an increase in the activity of these “unofficial” exchanges of digital assets.

The entities behind them offer Uzbek citizens the possibility to buy, sell or exchange cryptographic assets without having an office in the country. They are generally registered in other jurisdictions and their servers are located abroad, but at the same time they collect personal information from residents of the Central Asian Republic, the agency said in a notice posted on its website.

Half a dozen cryptocurrency exchange sites aimed at residents of Uzbekistan have been blacklisted: webmoneytashkent.com, wmztashkent.com, wm-torg.com, uzwmz.com, blockchainuz.com, and bitcointashkent .com. Similar services are also offered through Telegram bots and groups. Their providers, the regulator noted, often remain completely anonymous and can remove a channel quickly.

Authorities stressed that this type of platform does not assume legal responsibility for cryptographic transactions between various parties and cannot guarantee their legitimacy. Furthermore, they cannot guarantee the proper storage of personal data or the preservation of confidentiality. The ad says:

The Agency urges citizens to be as vigilant as possible, to be cautious and not to use the services of these platforms, in particular in order not to be victims of fraud.

Uzbekistan legalized trading in cryptocurrencies in 2018, but in December 2019, Tashkent authorities banned residents from buying cryptocurrencies while selling them. The National Project Management Agency has now reminded the public that, in accordance with the Presidential Decree “On Measures for the Development of the Digital Economy in the Republic of Uzbekistan” and the country’s law “on licensing and notification procedures”, the establishment of Cryptocurrency exchanges are subject to licensing.

The government tried to encourage some encryption activity. In January 2020, Tashkent unveiled a plan to establish a national mining pool and the initiative was presented as a priority. The state also said it will establish a licensed cryptocurrency exchange where miners can sell their coins and has promised to create a blockchain voucher, as well as introduce tax breaks for cryptocurrencies. Uznex, a regulated trading platform operated by the South Korean entity Kobea Group, was launched at the end of the month.

However, in September of this year, a senior central bank official reportedly said that cryptocurrencies such as bitcoin would never be recognized as legal tender. Speaking to local media, the vice president of the Central Bank of the Republic of Uzbekistan (CBU), Behzod Hamraev, recalled that, unlike cryptocurrencies, the national fiat currency, the sum, is backed by bank assets. He also expressed his opinion that bitcoin will never equal “world currencies” like the dollar, euro, yen and ruble.

Categories
Bitcoin Wallet Crypto Mining Cryptocurrency news Investment News

Is the New Zealand government up for the CBDC mission next?

Many state central banks are exploring the possibility of using central bank digital currency. New Zealand is the latest to announce it is exploring the possibility. One of the main advantages is its use as a monetary policy tool.

China has already started tests of its own digital yuan and is trying to eliminate any competition from the country in the form of blanket bans on cryptocurrencies and their mining.

New Zealand is another country that is researching the benefits of these centralized digital currencies. The Royal Bank of New Zealand today released a public consultation document which contains the following statement:

“Trends in the use of cash and monetary innovation offer the Reserve Bank an opportunity to consider expanding central bank money into a widely used digital form. The decline in the use, acceptance, and availability of cash in New Zealand, and the emergence of innovations in private money, namely stablecoins, make it an opportune time to think about a central bank digital currency (CBDC).

According to an article on Bloomberg, the bank admits tremendous complexity in developing such an asset and a long time to do so, but the CBDC would allow people to turn “private money” into a digital bank. . Money.

This would allow the New Zealand currency to remain relevant in a digital future and provide a very useful monetary policy tool for the government. The RNBZ said:

“As with other forms of digital currency, a CBDC must be operationally resistant to cybersecurity risks and disruptions, maintain data confidentiality, and comply with all relevant regulations. Even if a CBDC has the potential to act as a catalyst for innovation and competition in the larger money and payments ecosystem, we need to consider its potential to eliminate innovation. “

In addition, according to the bank, such a currency would improve internal payments and also improve cross-border payments.