Bitcoin News and Finance: What You Need to Know

An official at the Bank for International Settlements (BIS) and former member of the executive board of the European Central Bank (ECB), Benoit Coeure, insists that bitcoin has not passed the test of being a means of payment. He calls El Salvador’s move to make the cryptocurrency legal tender “an interesting experiment.” BIS Official Doubts Bitcoin Can Function as Means of Payment in El Salvador Benoit Coeure, head of the Innovation Hub at the Bank for International Settlements (BIS), commented on El Salvador’s move to make bitcoin legal tender Friday. He said at the launch of a regulatory research hub at the Bank of England (BoE): El Salvador, that is an interesting experiment indeed. A member of the BIS executive committee, Benoit Coeure was appointed head of the bank’s innovation hub in 2020. He was previously a member of the executive board of the European Central Bank (ECB). From 2013 to 2019, he chaired the BIS Committee on Payments and Market Infrastructures. El Salvador

This week the United States senator from Texas, Ted Cruz, appeared on the Fox News television broadcast Hannity and discussed the leading crypto asset bitcoin. Cruz told Hannity he believes people are investing in bitcoin because they believe America is on the verge of an inflation crisis. Ted Cruz: ‘We’re Seeing Inflation — I Think People Are Going to Bitcoin as a Hedge Against That’ Following negative statements about bitcoin from U.S. senator Elizabeth Warren from Massachusetts, the Republican senator from Texas, Ted Cruz, gave his opinion about bitcoin this week. Cruz appeared on the Fox News television show Hannity with the conservative host Sean Hannity. The Texas senator had a lot to say about Joe Biden and explained that he thinks the Biden administration is undermining the American economy and foreign policy. “If you look at Biden’s foreign policy and you break the world into two groups, our friends and our enemies,” Cruz said during the interview with Hannity, “What does

PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the listing of CWAP, being available to trade on the 11th June 2021 at 10:00AM UTC. CWAP was created by the DeFire team, as the native currency which sets the ‘right’ economic incentives via its platform. CWAP will start trading with USDT and BTC pairs. What is DeFire? DeFire is an order router across decentralized execution venues, or in layman terms, a DEX aggregator. What does it all mean? DeFire provides optimal order execution across the universe of decentralized exchanges and other order routing services. In other words, DeFire is in the business of offering the best rate for DeFi trading. The nature of value dynamics within the DeFi ecosystem flows from order flow originators (casual traders, institutional traders, wallets with DeFi facilities, etc.) to execution venues (DEX’s and lending platforms) as it is up to the trading agents where they choose to send their order flow. DeFire algorithmically optimizes thi

The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central Banks to Collaborate on CBDC Project The Swiss National Bank (SNB), Banque de France, and the Bank for International Settlements (BIS) Innovation Hub have announced this week they’ll cooperate on trials exploring the use of wholesale central bank digital currencies (CBDCs) for cross-border settlements. The tests will be supported by an Accenture-led private sector consortium that also includes Credit Suisse, Natixis, R3, SIX Digital Exchange, and UBS. #BISInnovationHub @banquedefrance and the Swiss National Bank launch #ProjectJura – a collaborative experiment into wholesale #CBDC @SNB_BNS_en https://t.co/vtbMCSJA6i pic.twitter.com/lV7mKI7R0S — Bank for International Settlements (

While the cryptocurrency market is gradually reclaiming the market capitalization it lost in May, the NFT ecosystem is in full bloom. New projects and platforms are flooding the world of NFTs, bringing fans and collectors a wider ensemble of epic collectibles. In this NFT roundup, we take a look at what’s new for the NFT community. Hoard Exchange NFT Marketplace to Help Users Loan and Stake NFTs Hoard Exchange , one of the largest digital goods marketplaces, has launched its NFT marketplace on Ethereum mainnet. The platform allows users to trade, rent, lend, and borrow in-game consumables, digital art, domain names, and various NFTs. The platform, committed to offering its users true ownership of virtual items, seems poised to take a significant stake in the NFT industry. Any user who holds NFTs and stablecoins can generate extra income through the platform through the lending and borrowing options. Enjin & Health Hero Team Up for NFT-Based Wellness App Full-stack blockchain

A court in Russia’s Perm region has decided to block a number of websites describing how to exchange cryptocurrency for fiat cash. Local prosecutors claim the dissemination of this type of information is against the law in Russia as it may facilitate the laundering of illicit funds. Kungur City Court Blocks Crypto-Related Sites The Kungur City Court in the Russian Perm Krai region has upheld a request filed by the Beryozovsky District Prosecutor’s Office to take down several internet sites detailing various methods of cashing out bitcoin. The prosecutors who discovered the crypto platforms insist the publishing of such content violates Russian legislation on combating the legalization of crime proceeds. “It was established that information on methods of cashing out the Bitcoin cryptocurrency was freely available for viewing and using on certain Internet resources,” a press release explained, further noting: Taking into account that the legislation considers the exchange of virtu

BarterTrade , is a cryptocurrency trading ecosystem that upgraded to more advanced V2 on 6th May, 2021, implementing significant benefits and new features for traders. Understanding crypto traders’ needs is a key ingredient of the relaunch, which includes features such as a 0% trading fee, institutional liquidity, auto KYC and a new customer support. Bartering or Trade with V2 Upgrade The V2 BarterTrade crypto exchange ecosystem brings in a plethora of improvements and features, carefully selected and designed to ensure a seamless user experience. This includes: 0% Fee on BART Trades : BART, the native token of BarterTrade allows users to access a 0% trading fee Social Trading : A fast-growing Industry feature which affords invaluable help to new traders who want to follow and learn from successful, experienced traders. Live Chat Support : No more bots. BarterTrade believes that the human touch is crucial in offering the best service to its users, and uses a improved support sys

On May 27, the state of Florida saw one of the largest real estate sales in cryptocurrency, as a Miami Beach ultra-exclusive luxury penthouse was sold for over $22 million. The penthouse located on the ninth floor of the 12-story building offers 5,067 square feet of space and a 2,960-square-foot terrace with oceanfront views. One of the Most Exclusive Luxury Homes in Miami Sells Entirely for Crypto Assets According to Arte by Antonio Citterio , a penthouse in Miami’s Surfside neighborhood has been sold to an anonymous buyer who paid for the property entirely in cryptocurrency. The sale was the largest real estate purchase with crypto assets in Florida’s history. Developers say that the penthouse is one of the most expensive properties in Miami in terms of price per square foot. The Surfside region in Miami made headlines in December 2020, when a penthouse sold for a whopping $33 million. This particular luxury condo sold for cryptocurrencies at $22.5 million was sold for $4,440.50

Spain nears the final day for its citizens to file their tax statements, and this year cryptocurrency traders are in the sights of tax authorities. Any trader that has obtained revenue after selling cryptocurrencies must file taxes and pay a percentage of the operation. However, many new traders are still unsure of what needs to be done. Spain’s Tax Authority Prepares to Target Crypto Traders Spain is nearing the end of the period stipulated to file tax statements. This year, the tax authorities are especially focused on cryptocurrency traders due to the enormous growth of the industry. According to local reports, 7.5 million Spanish citizens have entered the world of cryptocurrencies. Not only that, but about 60% of them are using it as investment vehicles. According to Spanish law, any trade or cryptocurrency sale registered with revenue should be declared. Spanish citizens that fail to file their statements can be sanctioned with fines. While cryptocurrency tax duties weren’t i

Major North American bitcoin mining firm Hut 8 Mining has been approved for listing on Nasdaq under the ticker symbol HUT. The company is also listed on the Toronto Stock Exchange (TSX). Hut 8 Mining Corp. announced Thursday that its common shares have been approved to list on the Nasdaq Global Select Market (Nasdaq) under the ticker symbol HUT. Nasdaq’s website explains that the global select market “has the highest initial listing standards of any exchange in the world.” Hut 8 Mining describes itself as “one of North America’s oldest and largest innovation-focused bitcoin miners.” It is incorporated under and governed by the Business Corporations Act of British Columbia. Most of the company’s directors and officers reside principally in Canada. The company is also listed on the Toronto Stock Exchange (TSX) under the symbol HUT. It was the first publicly traded bitcoin miner on the TSX exchange. Hut 8 says that its TSX listing will remain unchanged. The Hut 8 Mining shares are a

The International Monetary Fund (IMF) has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,” an IMF spokesperson cautioned. IMF Sees Issues With Bitcoin Being Legal Tender in El Salvador The International Monetary Fund (IMF) raised a number of economic and legal concerns Thursday regarding El Salvador making bitcoin a legal tender, with equal footing with the U.S. dollar. With the recent approval of the “Bitcoin Law” proposed by President Nayib Bukele, El Salvador has become the first country in the world to adopt bitcoin as legal tender. Gerry Rice, an IMF spokesman, said during a scheduled press briefing in Washington: Adoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis so we are following developments closely and

The crypto market is busier than ever. More and more tokens and cryptocurrencies are flooding the exchanges and it’s getting difficult to recognize the best trading opportunities. The majority of tokens and altcoins available on the market fail to represent any real value. A new cryptocurrency that will soon be listed on the new CEX seems to have a solution to this problem. Continue reading to find out more about TecraCoin and have a look at the bigger picture of the ecosystem of Tecra. Bullish Run on Uniswap From the latest news, Tecra has added a liquidity pool on Uniswap , the market responded with a strong rise. After adding more funds to the pool, the price increased by about 150% within 3 days. Currently, the price is holding at $3 amid positive news, which might give the market a chance to continue growing. Listing on the new CEX can lead to the strong bullish trend on TCR soon. Tecra’s Innovation on the Crypto Market With the grant received from European Union, the compan

On Thursday, the Boston-based financial services and bank holding company State Street Corporation announced the launch of a division dedicated to cryptocurrencies, the digital economy, and decentralized finance (defi). State Street Invokes New Division Dedicated to Crypto, Blockchain, and Defi The financial services company State Street (NYSE: STT) offers a wide array of products like Investment management, securities lending, stock trading, and custodial banking services. In Q3 2020, data shows that State Street has around $3.15 trillion assets under management (AUM). On June 10, the company revealed it is stepping into the world of digital finance in a big way by launching a new division focused on innovative technologies. State Street’s announcement on Thursday reveals the financial institution plans to “expand to include crypto, central bank digital currency, blockchain, and tokenization.” The company also notes that it already operates the firm’s proprietary GlobalLink techno

Reinhard Cate is committed to making a difference. Whether for his work colleagues, fellow parents, or migrants like his mother, he aims to always have a positive impact on other people’s lives.  That desire to make a difference is what led him to join Ripple as part of the marketing team in 2018. From day … Continued The post Striking a Work-Life Balance with Parents at Ripple appeared first on Ripple. http://dlvr.it/S1Ts9q

Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. In his unanimously adopted motion, House Representative Bamidele Salam warned the Central Bank of Nigeria (CBN) of the negative “implications of further devaluing the naira.” Lawmakers Slam CBN U-Turn The House’s warning follows the CBN’s recent decision to devalue naira from an exchange rate of 393 to the current one of just under 411 nairas for every dollar. Furthermore, the Nigerian lawmakers’ call for intervention comes just a few days after the currency marginally depreciated against the USD on the black market. At the time of writing, the naira sell rate on the black market was 502 to the dollar. Meanwhile, a report points to Salam reminding the CBN governor Godwin Emefiele of his earlier stance on currency devaluation. Before the naira’s devaluation in May 2021, Emefiele had repeatedly defended the country’s overvalued exchange rate. H

U.S. Senator Elizabeth Warren criticized Bitcoin and cryptocurrencies yesterday in a Banking Senate Subcommittee hearing. In the hearing, Warren criticized the energy consumption that Bitcoin and other proof-of-work (PoW) cryptocurrencies need to operate. Warren also thinks cryptocurrencies are the “wild west” of investments and called for a regulatory crackdown on the industry. Some on social media were quick to bite back, however, pointing out Warren’s flawed logic and perceived hypocrisy. Senator Elizabeth Warren Takes on Bitcoin Senator Elizabeth Warren declared her opinion on bitcoin and other cryptocurrencies yesterday in a senate subcommittee hearing. The hearing , titled “Building a stronger Financial System: Opportunities of a central bank digital currency,” served as an opportunity to criticize Bitcoin’s energy consumption and its usage in criminal activities. Warren quickly stated how Bitcoin needed too much energy to settle even one transaction, stressing that: A singl

OVR.ai is announcing a live and ongoing integration with Chainlink , the marketing-leading decentralized oracle network that provides smart contracts with secure and reliable off-chain data and computation. The current integration involves the use of Chainlink Verifiable Randomness Function (VRF) to fairly and transparently select a special grant fund winner from the list of participants taking part in the upcoming OVRLand Treasure Hunt. Additionally, the OVR team plans to leverage Chainlink oracles throughout the platform to connect the physical world to OVRLand’s digital metaverse, enabling a virtual experience that’s impacted by the real world. OVR is a decentralized platform for geolocalized Augmented Reality (AR) / Virtual Reality (VR) experiences, with a vision to merge the physical and the virtual world through AR. OVR allows users to build, host, and visualize AR/VR experiences that are customized to specific geographic locations. This is accomplished by OVR dividing the