Author: Lubomir Tassev

Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates – Bitcoin News

The Chinese government has taken multiple steps so far to contain the economic fallout from the coronavirus epidemic, including interest rate cuts and financial injections worth billions of yuan. It did it again this week, extending the monetary easing provided Read More

Curious About Bitcoin, Nigerians See Increasing Opportunities to Buy and Spend Cryptocurrencies – Bitcoin News

Higher prices since the start of the year have been restoring popular interest in cryptocurrencies. Google searches for “bitcoin” have increased since December to about half of those registered in June last year. There’s one country that sticks out as Read More

Bitcoin ATMs Grow in Number Reaching Almost 7,000 in Operation Around the World – Bitcoin News

ATMs supporting digital coins have increased parallel to the predominant trend on cryptocurrency markets since the beginning of 2020. With over 400 new devices added in January, the global total is now closing on the 7,000 mark. The sector has Read More

Tax Rules Hit Brazilian Crypto Exchanges, Forcing Trading Platforms Acesso Bitcoin and Latoex Out of Business – Bitcoin News

Tax regulations implemented even before dedicated legislation has been adopted have hit Brazilian cryptocurrency exchanges. Digital asset brokers failing to comply with the new reporting requirements face fines and the stricter rules are hurting smaller platforms, which are shutting down Read More

Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for Cryptocurrencies – Bitcoin News

In a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for Read More

German Economy in Risk of Recession Amid Weak Demand, Tariff Threat, and Epidemic – Bitcoin News

Germany, the economic powerhouse of Europe, is facing renewed challenges that may soon push it towards recession. Falling industrial production and dwindling factory orders are the prime cause of concern. The negative results have been announced on the backdrop of Read More

Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions – Bitcoin News

Famous for its favorable business climate that has attracted hundreds of crypto companies, Switzerland is now expanding its financial regulatory framework. Some of the upcoming rules will increase oversight in the blockchain industry in compliance with new international standards regarding Read More

Tax Agents ‘Confiscate’ Bitcoin From Criminal but Keep the Coins in His Wallet – Bitcoin News

The State Revenue Service of Latvia (SRS) has seized some bitcoins for the first time. The cryptocurrency, allegedly acquired through illegal means, is still being stored in the wallet set up by a criminal. Experts have expressed concerns about the Read More

UK Crypto Startups to Pay Discounted £2,000 Fee for Registration, FCA Revises Application Charges – Bitcoin News

Young and small cryptocurrency businesses will pay lower registration fees than big companies, the United Kingdom’s financial watchdog has decided after consultations with members of the industry. The revised fee scheme takes into account the firms’ income to determine the Read More

Fear Grips Stock Market Traders While Cryptocurrency Investors Become Greedy – Bitcoin News

The clash of two emotions, fear and greed, is said to determine investors’ sentiment. This ratio draws a historical picture of the market and it’s also an indicator of its future state. As an established trend, traditional investments such as Read More

China Stocks Plummet Despite 1.2 Trillion Yuan Injection to Mitigate Effects of Epidemic – Bitcoin News

China’s stock market plunged Monday under selling pressure accumulated during a prolonged holiday. Investors have been worried by the coronavirus outbreak that’s already taken the lives of more than 360 people. Beijing authorities have responded by pumping well over a Read More

Cambodia Announces Own Cryptocurrency as More Details Surface About China’s Digital Yuan – Bitcoin News

With China still in the lead, other countries are advancing their projects to develop payment systems around central bank digital currencies (CBDCs). Cambodia, for example, has recently revealed it will mint its own coin within months. The news comes as Read More

Boerse Stuttgart’s Bison Trading App to Add Bitcoin Cash and Launch Desktop Version – Bitcoin News

Bison, the crypto trading application offered by Boerse Stuttgart, has seen a remarkable growth of users in the past 12 months, the group announced this week. Germany’s second-largest stock exchange is now planning to expand its features and offer traders Read More

Deutsche Bank Reports €5.3 Billion in Net Loss for 2019 as It Counts the Cost of Restructuring – Bitcoin News

A year of reorganization has left its mark on Germany’s leading financial institution. Deutsche Bank revealed this week it suffered significant losses in the last quarter and all of 2019. The banking giant claims that the damage is “entirely driven Read More

US Bank Silvergate Sees Growth in Crypto Clients, Despite Decreasing Deposits From the Sector – Bitcoin News

Financial results released by two U.S. banks providing services to the crypto industry have indicated a decline in deposits from digital currency customers. However, a positive trend has been observed as well. One of the crypto-friendly institutions, Silvergate Bank, has Read More

Singapore Introduces Licensing for Crypto Platforms, New Payment Services Now Act in Force – Bitcoin News

The Monetary Authority of Singapore (MAS) has announced the commencement of the city-state’s new Payment Services Act. The law mandates the implementation of a licensing regime that applies to payment providers, exchanges and other platforms dealing with cryptocurrencies. Their operators Read More

Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA – Bitcoin News

Switzerland, a nation that’s been quite positive towards crypto business, is facilitating the integration between its traditional financial sector and the blockchain industry. With greater regulatory clarity and stability coming, established banks are plucking up the courage to offer digital Read More

Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks – Bitcoin News

Cryptocurrency transactions in Ukraine will be strictly monitored by the state, although the country’s finance minister admits that it’s not digital coins but fiat cash that criminals and corrupt officials are more likely to use. The legalization of cryptocurrencies remains Read More

Alexander Vinnik Accused of Laundering Billions Through BTC-e Extradited to France – Bitcoin News

Alexander Vinnik, the Russian-born IT specialist who spent over two years in detention in Greece, where he was arrested on a U.S. warrant, is now in Paris. The alleged BTC-e operator, suspected of laundering at least $4 billion through the Read More

6 Bankers Accused of Earning €30M in Bonuses From German Fraud, Tax Lawyer Out on €4M Bail – Bitcoin News

Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is part of multiple investigations carried out across Germany, the hardest Read More