Bitcoin News and Finance: What You Need to Know

The Argentinian province of Misiones plans to issue its own stablecoin in the future. This is one of the objectives that a recently approved law, the Missionary Financial Innovation Program with Blockchain and Cryptocurrency Technology, proposes. Misiones will also use a blockchain to issue documents and certificates to digitalize much of its work. Misiones to Issue Stablecoin The Argentinian province of Misiones informed last week it plans to issue its own stablecoin. This is part of an economic plan that seeks to modernize the structure of the province through the implementation of blockchain and cryptocurrency technology. This plan, which is laid out in the Missionary Financial Innovation Program with Blockchain and Cryptocurrency Technology, a new law that was approved by deputies last week, also features the proposed digitalization of much of the work Misiones does today. This law would make Misiones the first province to implement the creation of its own stablecoin in Argent...

Fresh off the heels of Blockfi’s issues with the ​​New Jersey Bureau of Securities, the company is now having problems in the state of Alabama. The director of the Alabama Securities Commission (ASC), Joseph Borg, explained on July 21 that he issued a show cause to the firm. Borg wants Blockfi to explain why the ASC should not copy New Jersey’s cease and desist as Alabama regulators also seem to believe they might be selling unregistered securities. Blockfi has received another order from the Texas State Securities (TSS) Board for the same reason. Alabama Securities Commission’s Show Cause Order Calls Blockfi Accounts Unregistered Securities, Texas Joins the Crackdown The director of the Alabama Securities Commission (ASC) Joseph Borg told the press on July 21 that Blockfi was sent an official show cause order. A show cause order is different from the cease and desist issued against Blockfi in New Jersey, as it gives the firm a chance to explain whether or not the order is justif...

Coinbase now accepts commerce payments in dogecoin. With the addition of the meme crypto, Coinbase Commerce now allows customers to check out and pay with seven cryptocurrencies. Coinbase Commerce Now Supports Dogecoin Coinbase Commerce is a platform by the Nasdaq-listed Coinbase that “enables merchants anywhere in the world to accept cryptocurrency payments in a fully decentralized way,” its website describes. The company announced via Twitter Wednesday: We’re now accepting commerce payments in dogecoin (DOGE). According to its website, seven cryptocurrencies are now supported. Customers can “check out and pay with bitcoin, bitcoin cash, dai, ethereum, litecoin, dogecoin, or USD Coin.” The website further explains: “All payments facilitated by Coinbase Commerce are fully decentralized and peer-to-peer. This means that the cryptocurrency goes directly from your wallet to a wallet that is only accessible by the merchant. At no point in this flow does anyone except t...

UBS, Switzerland’s largest bank, says that clients are looking at different investment alternatives and there is a bit of a fear of missing out (FOMO) when it comes to cryptocurrency investments. UBS Says There Is a Bit of Fear of Missing Out The CEO of UBS Group AG, Ralph Hamers, talked about cryptocurrency in an interview with Bloomberg’s Manus Cranny, published Tuesday. Given that a growing number of investment banks are offering crypto services or investments with exposure to cryptocurrencies to their clients, he was asked what UBS is doing for its wealth management clients in terms of providing access to cryptocurrency investments. “Clients are looking at different alternatives,” he replied. “They hear about crypto and there is a bit of a fear of missing out [FOMO] as well.” The CEO elaborated: They read it in the papers but they also see the volatility so honestly we advise with caution and we don’t offer it actively … We feel the crypto itself is still an untested asset ...

Global investment bank JPMorgan has reportedly green-lighted its advisors to provide clients with access to five cryptocurrency funds. The funds are available to all JPMorgan’s wealth management clients seeking investment advice. The move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients. JPMorgan Now Offers Access to Crypto Funds JPMorgan has given its financial advisors the green light to give all its clients access to cryptocurrency funds, the Insider reported Thursday, citing people directly familiar with the matter. This move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients, the publication conveyed. In a memo distributed earlier this week, JPMorgan told its advisors that effective July 19, they can take orders to buy and sell five cryptocurrency products. Four of them are from Grayscale Investments: the Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Clas...

The founder and chairman of Interactive Brokers, Thomas Peterffy, has revealed that he put money in crypto because he believes “there’s a small chance that this will be a dominant currency, so you have to play the odds.” Interactive Brokers Chairman Invests in Crypto Thomas Peterffy, founder and chairman of a major online trading platform, Interactive Brokers (Nasdaq: IBKR), revealed in an interview with CNBC Wednesday that he has invested in cryptocurrency. Interactive Brokers has about 1.33 million customer accounts and $330.6 billion in customer equity as of the first quarter. Clients from over 200 countries and territories invest globally in stocks, options, futures, currencies, bonds, and funds from a single integrated Interactive Brokers account. According to Forbes, Peterffy’s net worth is currently $21.4 billion. The chairman explained that he has invested in cryptocurrency even though he is unsure of its future, stating: Even I myself have put a little bit of money into...

PRESS RELEASE. BitYard , the world’s leading cryptocurrency derivative exchange based in Singapore, announced a refreshed corporate visual identity: a new logo highlighting ‘B’ & ‘Y’, a fresh slogan, and a vivid color palette. While ‘B’ conveys the strong belief on an inevitable trend of Bitcoin and other crypto evolving into currencies in global usage, the letter ‘Y’ derived from the word ‘Yard’ signifies BitYard’s ambition to become global traders’ backyard oasis, offering the most diverse digital investment services. Along with the brand refresh, BitYard introduces an optimal UI/IX on its mobile App, aiming to ensure the services run smoothly. Not only does the upgrade inject new vitality into BitYard, but it also provides its users with a more accessible, personable, and pleasant experience in their digital trading journey. The new slogan of BitYard ‘Grow your future in the yard’ is at the heart of the company’s vision of becoming the perfect beginner-friendly backyard for gl...

High net-worth families are turning to cryptocurrency investments, according to a recent Goldman Sachs survey that found close to half of the company’s family office clients are inquisitive about crypto-asset investments. A Goldman Sachs executive further said that a large portion of the company’s family office clients are asking about blockchain and cryptocurrency technologies. Following the SPAC Boom, Family Offices Target Crypto Investments A recent report from Bloomberg suggests that the ultra-rich families of the world are interested in blockchain and crypto-asset investing. The report stems from the New York-based multinational investment bank and financial services company Goldman Sachs, which conducted a study that polled over 150 family offices. The findings suggest high net-worth families are turning to crypto because of “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.” A ...

Following a report from John McAfee’s biographer, the former antivirus tycoon’s widow Janice McAfee has taken to social media to disclose a number of findings. During the first week of July, McAfee published a note that said there was “no sense of urgency” toward the investigation into John’s death by Spanish authorities. A week later, Janice McAfee shared the alleged suicide note “found in John’s pocket” and she believes it “does not sound anything like someone who has no hope and is contemplating ending their life.” Janice McAfee Questions Suicide Narrative Janice McAfee, the widow of the famous software mogul John McAfee, is very skeptical of her husband’s ostensible suicide. She has published a series of tweets that suggest she doesn’t believe the suicide story and the last time she spoke with John was on “June 23rd … at 11:30 am.” “He was found sometime after 6pm,” John’s widow said . “That means he had more than five hours to write the alleged suicide note [and] they want us ...

Overseas crypto exchanges marketing to Koreans will be blocked if they fail to comply with new South Korean regulations. The country’s anti-money laundering body has sent a notice to a number of foreign trading platforms warning them a registration is mandatory in order to provide services to Korean residents. Korean Financial Intelligence Unit Notifies Foreign Crypto Exchanges of Registration Obligations Access to foreign-based cryptocurrency exchanges can be denied and the platforms may face criminal investigations in South Korea if they don’t comply with the country’s new regulations for the sector. One of the key requirements is to register with the Korean anti-money laundering agency, the Financial Intelligence Unit (FIU), by Sept. 24. To remind them of their obligations, FIU has sent out a notice to 27 entities with crypto trading operations targeting Korean nationals, the Financial Services Commission ( FSC ) announced Thursday, quoted by the Korea Herald. The regulations ad...

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has clarified how cryptocurrencies falling under security-based swaps are regulated. He affirmed that platforms operating in the centralized or decentralized finance space are implicated by the securities laws. SEC’s Regulatory Approach to Cryptocurrency SEC Chairman Gary Gensler talked about cryptocurrency regulation Wednesday before the American Bar Association Derivatives and Futures Law Committee Virtual Mid-Year Program. After discussing various topics, including security-based swaps, credit default swaps, and registration of their dealers and participants, he proceeded to talk about cryptocurrency. “I’d briefly like to discuss the intersection of security-based swaps and financial technology, including with respect to crypto assets,” he said. “There are initiatives by a number of platforms to offer crypto tokens or other products that are priced off of the value of securities and operate like de...

Spacex and Tesla CEO Elon Musk has revealed that he personally owns bitcoin, ethereum, and dogecoin. Meanwhile, his companies, Spacex and Tesla, own bitcoin. He also said that bitcoin’s energy usage “is shifting a lot more toward renewables,” and Tesla will likely resume accepting the cryptocurrency after he does more due diligence. Elon’s Cryptocurrencies: Bitcoin, Ethereum, Dogecoin The Bitcoin event “B Word,” which took place Wednesday, featured a live discussion with Tesla and SpaceX CEO Elon musk, Square and Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood. The discussion was moderated by Steve Lee, head of Square Crypto. Responding to the question of what influenced his view on bitcoin, Musk began by outlining the benefits of the cryptocurrency. Tesla’s Technoking , who wore an evolution of money t-shirt during the live discussion, then said, “It’s got a lot of potential.” Emphasizing, “I’m not an investor,” Musk said that the only significant publicly traded stocks h...

PRESS RELEASE. Bitcoin of America is one of the fastest growing BTM operators worldwide. GreatPlaceToWork.com recently certified the Illinois-based Bitcoin of America as an elite company to work for. A whopping 92 percent of BoA’s employees reported that they feel free to take time off from work, when necessary, while another 88 percent claim to have the necessary resources and equipment to do their jobs. Employees routinely cited “opportunities,” “teamwork,” “diversity” and “experience” as some of the strongest selling points of working at Bitcoin of America. To put those numbers into perspective, only 59 percent of employees at typical American companies consider their place of employment to be “a great place to work.” Bitcoin of America, which is registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum), instead offers its employees a vastly different experience, according to the annual survey. There’s a very good reason why employe...

According to the latest data from the Central Bank of Kenya (CBK), diaspora remittances inflows to the country surged to $1.75 billion in the first six months of 2021. This figure represents a nearly 20% increase from the $1.46 billion recorded in the same period last year. 2021 Inflows Set to Surpass 2020 Total At this growth rate, Kenya’s 2021 remittances inflows appear on course to surpass the 2020 total of just over $3 billion. However, the data shows that on a monthly basis, the inflows dropped slightly from the $315 million recorded in the fifth month to almost $306 million. This drop from what is so far the highest monthly total is the only time the diaspora inflows have tapered off in 2021. In the meantime, the latest data shows that North America has now cemented its position as the key source of remittances for the East African country. For instance, in the first month of 2020, the North American diaspora’s share of total remittances was about 48% or approximately $125 m...

Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken as a benchmark. Digital Euro to ‘Feel Like a Prepaid Card of Sorts’ A week after the European Central Bank (ECB) decided to proceed with its plan to create a digital version of the euro, experts have voiced concerns about its unclear future. On July 14, the Governing Council of the ECB approved the launch of the project’s next, “investigation phase.” The stage is going to last 24 months during which key issues regarding design and distribution should be addressed. But according to Hugo Coelho, former chief of staff to Eurogroup President Mario Centeno and partner at Forefront, “the outcome is not clear yet and might not be for a long time.” The Eurogroup is the informal but politically important me...

On Wednesday, the non-fungible token (NFT) platform called Autograph, co-founded by the Super Bowl champion, Tom Brady, announced a strategic partnership with the companies Draftkings and Lionsgate. Draftkings Inc. also revealed on Wednesday that the publicly listed company is launching an NFT marketplace dedicated to NFT digital collectibles. Tom Brady’s Autograph Brings Star-Studded Lineup, Signs Deal With Lionsgate and Draftkings The company Autograph is an NFT platform that aims to meld iconic brands and well-known names from sports, entertainment, and culture into digital collectible experiences. The seven-time Super Bowl champion Tom Brady co-founded the project, based in Los Angeles, which was revealed in mid-April. Brady has recently shown his appreciation for bitcoin and he and his wife, Brazilian model Gisele Bündchen, recently signed a long-term deal with crypto exchange FTX. On July 21, Autograph revealed the company has partnered with the entertainment firm Lionsg...