Bitcoin News and Finance: What You Need to Know

The Indian government has introduced new cryptocurrency disclosure rules. Companies dealing in cryptocurrencies will have to disclose their crypto holdings, among other disclosures, as part of their financial statements beginning April 1. New Crypto Disclosure Requirements The Indian Ministry of Corporate Affairs (MCA) issued a notification last week mandating companies to disclose crypto trading and investments during the financial year. These disclosures will be required starting on April 1, which is when India’s financial year 2021-22 begins. Every company which “has traded or invested in cryptocurrency or virtual currency during the financial year” must disclose “profit or loss on transactions involving cryptocurrency or virtual currency,” “amount of currency held as at the reporting date,” and “deposits or advances from any person for the purpose of trading or investing in cryptocurrency or virtual currency.” Crypto companies in India welcome the new requirements by the gover...

Galaxy Digital CEO Mike Novogratz has predicted that as much as a trillion dollars could flow into bitcoin over the next year as wealthy baby boomers get into cryptocurrency. With the example of Morgan Stanley, he says that more banks will start offering bitcoin exposure to their customers. $1 Trillion Could Flow Into Bitcoin Michael Novogratz, a longtime bitcoin bull and founder of Galaxy Digital, talked about the future outlook for bitcoin last week in an interview at Reuters Digital Assets Week. He explained that as cryptocurrencies become more mainstream, wealthy baby boomers will be the next generation to get into cryptocurrencies, elaborating: It could be as much as a trillion dollars comes over the next year from that giant group of wealth. Following the announcement by Morgan Stanley to offer access to bitcoin funds to its wealthy clients, Novogratz predicted that other major banks and trading platforms will follow suit. This will likely spark the rush from wealthy baby...

The Federal Reserve is actively working on a central bank digital currency and some prototypes are near completion. The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) plan to unveil two prototypes of a digital dollar as early as July. Digital Dollar Prototypes Coming Soon Federal Reserve Chairman Jerome Powell said last week as part of an event held by the Bank for International Settlements (BIS) on central bank digital innovation that the U.S. central bank is actively exploring the launch of a digital dollar. The U.S. Federal Reserve has been actively working on a central bank digital currency (CBDC). At least two prototypes of a digital dollar are near completion, developed by officials at the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT). They plan to unveil their research as soon as July, said James Cunha, who leads the project for the Boston Fed. He told Bloomberg: The Boston Fed and MIT hope to unveil...

Over the last seven days the project filecoin, a cryptocurrency, and blockchain-based cooperative digital storage network climbed 61% in value and 493% during the last three months. Regional reports from China also show that the computer hardware giant based in Shenzhen, Xinyuan Technology Co., has invested $89 million into the filecoin mining ecosystem. Filecoin Market Cap Swells, Computer Hardware Giant Xinyuan Technology Invests in FIL Miners Filecoin , the decentralized storage project designed by Protocol Labs and built on top of the Interplanetary File System (IPFS), has seen quite the demand during the last 90 days. During the last week, the crypto asset has spiked 61%, while a number of other cryptocurrencies have been down. At the time of publication, Filecoin is trading for $127 per unit and has a $7.54 billion market valuation. 30-day price statistics show filecoin (FIL) is also up over 270% as well. The Filecoin project aims to make it so people can control their own d...

Since well before the Covid-19 outbreak was found in America, the U.S. Federal Reserve invoked a number of monetary easing policies. Then throughout 2020, the central bank created a quarter of all the USD ever issued in less than 12 months to help the economy during the outbreak. Despite Fed Chair Jerome Powell and other central bankers showing little concern for inflation, a recent survey shows that 77% of Americans are worried about surging inflation in the months to come. Survey Shows Younger Generations Are Worried About Inflation Hurting Their Purchasing Power During the first week of March, Federal Reserve Chair Jerome Powell did an interview at the Wall Street Journal Jobs Summit and he explained he wasn’t worried about inflation. Further, other members of the central bank have shown little worry about rising inflation as well, even though the Fed created massive amounts of USD last year and into 2021. Atlanta Fed President, Raphael Bostic, recently said that determining...

During the last few months, the non-fungible token (NFT) scene has exploded with lots of celebrities jumping on the bandwagon, high grossing auctions, and even some controversy on the side. A lot of people don’t realize how old NFT collectibles are, as years ago developers and artists created NFTs like Nilicoins (artcoins), Rare Pepe trading cards, and Curio cards as well. Since the NFT boom has straddled new heights, these old NFTs are in demand again and being sold at auctions. Color Coins and Nilicoins The NFT ecosystem has grown exponentially and it seems everybody is getting in on the trend. Digital artists selling NFTs have made millions at auction and a great deal of celebrities and socialites are minting NFTs now as well. The NFT space is very popular, but the concept is nothing new, as color coin technology has existed on the Bitcoin ( BTC ) network and other chains for years. Color coin tech was first mentioned by Yoni Assia in a post called “ bitcoin 2.X (aka Colored B...