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BTC – Bitcoin

1531 articles

June 2021

El Salvador feels confused over salary payments in Bitcoin

The El Salvadorean Department of Labor and Social Welfare has had to clarify it is not within its purview to determine whether salaries can be paid in Bitcoin.

Bitcoin bounces back. Criminals choose crypto. Chinese mining redoubt faces scrutiny.

Top blockchain and crypto news: Bitcoin finds fresh favor in Global South. Why would hackers demand a Bitcoin ransom? Chinese miners eye Yunnan probe.

India reviews cryptocurrency ‘ban’ legislation

The Indian government and leading industry stakeholders are reviewing elements of legislation that proposed a ban on cryptocurrencies.

Ethereum sees record institutional outflows of US$12.7M

Ethereum saw its largest institutional outflows on record last week as outflows from Bitcoin eased, according to a report by CoinShares.

Bitcoin mining difficulty drops twice in a row to new 2021 low

On June 14, the difficulty of Bitcoin mining fell 5.3%, the first time this year that there have been two consecutive downward adjustments.

African P2P Bitcoin trading roars ahead of other regions

Africa has emerged as the region with the highest growth in P2P Bitcoin trading volume over the past six months.

El Salvador’s BTC remittances in May quadruple from last year

Bitcoin transactions in El Salvador during May increased by more than four times compared to a year ago, yet fiat remittances still represent the vast majority of transactions in the country.

Twitter chief says integration of BTC Lightning Network “a matter of time”

Twitter’s founder and CEO says the integration of Bitcoin layer-2 payments — the Lightning Network — into the social media platform may be on the horizon.

Foreign crypto exchanges eye India despite regulatory uncertainty

Despite regulatory uncertainty over cryptocurrency trading in India, some of the world’s largest crypto exchanges are looking to enter the market.

Australian serviced office firm to accept rent in crypto

Australian serviced office firm Business Hub will accept cryptocurrency as payment for rent on serviced office space and other business services as of July 1.

IMF targets El Salvador’s Bitcoin adoption, citing financial and legal concerns

The International Monetary Fund (IMF) will meet with El Salvador’s President Nayib Bukele to finalize discussions around a pandemic relief loan to support the Central American nation. In a Thursday press briefing, IMF spokesman Garry Rice also implied that El Salvador’s decision to make Bitcoin a national currency will be a focus of the meeting for the IMF team.

Bitcoin hot in Singapore; China crypto mining bans widen | The Daily Forkast

El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.

U.S. millennial crypto fans want to spend their coins like cash, study shows

Ninety-three percent of millennial current or former cryptocurrency holders in the U.S. would consider using their digital coins for everyday purchases, according to a recent survey.

Moonstake ties up with Uzbekistan exchange in blockchain push

Staking service provider Moonstake has partnered with UzNEX to provide blockchain consulting services in Southeast Asia and the Middle East.

New York State passes bill restricting Bitcoin mining

A bill restricting the granting of crypto mining permits on environmental ground has passed the New York State Senate.

El Salvador’s Bitcoin experiment. Ethereum’s steady rise. Free money in China.

Top blockchain and crypto news: El Salvador bets on Bitcoin as national currency. ETH gains ground on BTC. Beijing dishes out digital yuan in latest trials.

El Salvador’s Bitcoin law wins vote, set to shake up BTC investments everywhere

Now that Salvadoran President Nayib Bukele’s Bitcoin-as-legal-tender bill is almost reality, what will it mean for BTC investors around the world?

Miami property deal breaks crypto real estate record

A Miami property has set a record for the highest price paid in cryptocurrency in a real estate transaction — US$22.5 million.

Chinese Bitcoin investors among most profitable globally

Bitcoin investors in China saw greater returns in 2020 than almost any other nation — second only to the US.

Indian crypto exchanges form self-regulatory body

Crypto exchanges in India have partnered with the Internet and Mobile Association of India to form a self-regulatory body.

Bitcoin worth millions recovered from Colonial Pipeline ransomware attack

Millions of dollars worth of Bitcoin paid to ransomware hackers who shut down the main fuel pipeline on the U.S. East Coast last month has been recovered.

Take that, Miami: Hong Kong hosts its own Bitcoin meet-up

As 50,000 Bitcoiners and crypto superstars whoop it up at Miami’s Bitcoin 2021 fest, a smaller group of BTC fans hold their own at the Fringe in Hong Kong.

Four in 10 Australian millennials would buy crypto over real estate

Nearly 40% of Australians born between the early 1980s and mid-1990s would rather invest in cryptocurrencies than real estate, according to a nesurvey.

XRP sees robust institutional inflows; Ethereum ‘altcoin of choice,’ report says

XRP last week saw inflows of US$7 million into investment products, the most since April, according to CoinShares.

Bitcoin mining rig maker Canaan to open service center in Kazakhstan

Canaan, one of the largest crypto mining rig makers in the world, is opening its first-ever service center outside China—in Kazakhstan.

El Salvador poised to adopt Bitcoin as legal tender

El Salvador is proposing a bill to adopt Bitcoin as legal tender in the Central American nation. In a videotaped announcement shown at the Bitcoin 2021 Conference in Miami, President Nayib Bukele said he would submit the bill this week.

Crypto mining rig maker Goldshell to launch ‘mine-at-home’ kits in Asia

Crypto mining equipment manufacturer Goldshell has announced that it will launch a new line of mining rigs designed specifically for home use in Asian markets.

Australia’s first Bitcoin capital growth fund gaining interest

Australia’s first capital growth fund to offer institutional exposure to BTC has announced its received inquiries from some of the country’s largest companies.

Luno crypto exchange looks to expand into Indonesia and SE Asia

Global crypto exchange Luno is in talks with conglomerate Lippo Group to launch operations in Indonesia in order to enter the Southeast Asian market.

How serious is the threat of Bitcoin mining to the environment?

Is Bitcoin’s carbon footprint a growing risk to Earth, or is it a red herring? On this year’s United Nations World Environment Day, crypto mining is a hot topic.

HK’s Bitcoin Meetup ahead of Bitcoin 2021; Banksy work offered for crypto | The Daily Forkast

Hong Kong arranged a Bitcoin gathering ahead of Bitcoin 2021 Conference in Miami as Phillips auction house offers Banksy’s work for crypto.

UK watchdog: Crypto firms fall short on anti-money laundering rules

Many of Britain’s crypto firms are failing to meet required anti-money laundering and counter-terrorism financing laws, says the country’s watchdog.

BitFlyer to launch Bitcoin-Japanese yen pair for U.S. traders

BitFlyer announced today that it is launching a Bitcoin-to-Japanese yen pair for currency traders in the U.S.

Governments meet crypto industry; Hope for Bitcoin miners in Sichuan | The Daily Forkast

Governments meet up with the crypto industry to discuss how to regulate the booming industry as BC Group’s OSL ties up with SC Ventures.

Standard Chartered, BC Group to launch digital asset trading platform

Standard Chartered and BC Group to launch digital asset trading platform for corporate and institutional clients in Europe and the UK.

Bitcoin mining rig maker Canaan reports huge jump in overseas sales

Chinese Bitcoin mining hardware maker Canaan says overseas sales accounted for almost four-fifths of its revenue during the first quarter of 2021.

‘Green’ crypto mining should be spared crackdown, Canaan chief says

Green crypto mining operations should be spared China’s recent crackdown on the sector, according to the CEO of Canaan Inc.

Is India’s central bank greenlighting crypto? Bitcoin fees fall to new lows. Cardano rolls out Alonzo upgrade for DeFi.

Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

Dogecoin to list on Coinbase Pro

Dogecoin has gained an additional measure of credibility, with crypto exchange Coinbase announcing that it will add DOGE to its professional trading platform.

What’s up with Taproot, the biggest proposed change to Bitcoin since 2017?

Bitcoin’s proposed Taproot update for smart contracts and privacy has wide verbal support from miners, but will they put their crypto where their mouth is?

Robinhood’s Chinese rivals to launch crypto services abroad

China-based trading apps Futu and Tiger Brokers have announced plans to move into crypto to compete outside China with apps such as Robinhood and eToro.

Bitcoin suffers second-biggest monthly price drop in May

Bitcoin dropped by 37.5% in May after hitting a low of US$34,195 yesterday, the second-largest drop on record after it fell 40% in September 2011.

May 2021

Gold vs. Bitcoin: Which one is better as a safe-haven asset?

Gold prices are rising again and at a three-month high. How does gold — a store of value for over 2,500 years —  compare to Bitcoin as a refuge from market turmoil?

Bitcoin mining difficulty drops 16% amid Chinese regulatory headwinds

The latest Bitcoin mining difficulty adjustment, made at 1 a.m. UTC on May 30, saw the difficulty of Bitcoin mining drop 15.97%.

Crypto crimes surge in Asia; Bitcoin cause for divorce in S. Korea | The Daily Forkast

Crypto crime is surging in Asia while Bitcoin is being blamed for splitting up married couples in South Korea.

How FTX CEO Sam Bankman-Fried navigates crypto trading’s new normal

From mass liquidations to meme trading, the characteristics unique to the crypto market can now be seen in traditional markets, says FTX CEO Sam Bankman-Fried.

Crypto sector faces tougher enforcement over sanctions-busting, report says

Sanctions enforcement affecting the cryptocurrency industry has intensified rapidly in the past two years, according to a new report by crypto compliance consultancy Elliptic.

Hong Kong crypto exchanges seek to wash hands of dirty power problem

Hong Kong-based cryptocurrency exchange Crypto.com has announced that it is committed to becoming carbon-negative within 18 months, following carbon-neutral initiatives launched by other Hong Kong-based cryptocurrency exchanges FTX and BitMEX.

Almost four in ten consumers have bought cryptocurrencies, study finds

Consumer adoption of cryptocurrencies has grown, with 38% of respondents to a survey saying they have either invested in or bought a cryptocurrency, according to digital wallet provider Skrill, part of payments provider Paysafe.

Crypto miner BitDeer blocks China users as Beijing gets tough on sector

BitDeer, one of China’s biggest crypto mining operators, blocked access to anyone using a mainland Chinese IP address last night.

PayPal to let users move their crypto into third-party wallets

Global payments giant PayPal plans to let its users move the cryptocurrency they hold on its platform into third-party wallets.

Can Elon Musk shrink Bitcoin mining’s carbon footprint? PancakeBunny’s $200 million hack. Ray Dalio admits to owning crypto.

Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.

Crypto market rebound as investors go green; Indonesia plans CBDC | The Daily Forkast

Investors are turning to green alternatives to tackle Bitcoin’s impact on the environment as Indonesia gears up for a CBDC.

China crypto crackdown fallout; Politician turns influencer in Korea | The Daily Forkast

China’s miners prepare for migration and Hong Kong reacts to possible retail ban. Meanwhile a South Korean governor becomes a crypto influencer.

Cardano sees US$10M inflows as big investors switch to proof-of-stake coins

Amid declines in Bitcoin and Ethereum, Cardano and its native cryptocurrency ADA saw US$10 million inflows as institutional investors switch to proof-of-stake coins.

China’s cryptocurrency mining sector becomes target of fresh clampdown 

Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.

Marathon to host 73,000 Bitcoin miners in Texas as Chinese exodus looms

Marathon Digital Holdings has announced a deal with Compute North to host 73,000 of Marathon’s Bitcoin miners at a new data center in Texas.

Bitcoin rallies as Elon Musk meets with miners in green energy push

Bitcoin has rallied to nearly US$40,000, boosted by tweets from Tesla founder Elon Musk and MicroStrategy CEO Michael Saylor announcing that they have met with North American miners of the cryptocurrency to promote a renewable energy initiative.

What will happen if Hong Kong bans retail investors from trading crypto?

Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out. 
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What is the outlook for Bitcoin and Ethereum for the rest of 2021?

The current dip aside, what are Bitcoin and Ethereum’s longer-term price forecasts? Finder’s brain trust of 35 crypto experts peers into a crystal ball.

Bitcoin dominance rises to 45% as altcoins crash over China crypto crackdown

As the crypto sell-off continued over the weekend, Bitcoin once again proved its resilience relative to other cryptocurrencies in not bleeding as much.

Bitcoin price plunges and altcoins sell-off as crypto market decline intensifies

Bitcoin and altcoin prices take heavy hits and sell-off deepens as more bad news, including a blatant DeFi exit scam, continue battering crypto markets.

Crypto market rebound; Sotheby’s next NFT auction eyes millennials | The Daily Forkast

The crypto market has rebounded after one of its biggest crashes. Bitcoin is a ‘safe haven’ for many investors.

Solana gets Coinbase listing after SOL prices surge amid crypto market crash

Coinbase Pro adds Solana’s native token, opening the doors for US investors after SOL outperforms Bitcoin and most other cryptos amid market crash.

Singapore’s DBS Bank says no investment discussion can omit Bitcoin

Diversification to allocate funds to Bitcoin is an “opportunity that (fiat) money cannot buy”, says DBS Bank’s chief investment officer.

Meitu, Chinese crypto-invested firms’ stock slammed by Bitcoin crash

Hong Kong-listed beauty app Meitu and other companies that have invested in cryptocurrencies have seen millions of dollars wiped off the value of their stock following the huge global Bitcoin sell-off this week.

US Treasury calls on firms to report to IRS on crypto transactions over US$10K

The U.S. Department of the Treasury is calling for business to report cryptocurrency transactions worth more than US$10,000 to the Internal Revenue Service.

Thailand’s The Brooker Group still bullish on crypto, planning US$3M investment in DeFi

The Booker Group announced that it now holds approximately US$35 million in crypto and plans to invest US$3 million into DeFi in Q2.

What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.

Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.

South Korea switches course on crypto amid backlash over regulator’s remarks

Newly elected South Korean Prime Minister Kim Boo-kyum appears to be leading an embrace of the cryptocurrency sector among lawmakers.

Illegal crypto mining in Inner Mongolia’s crosshairs as reporting hotline set up

The Chinese region of Inner Mongolia is urging members of the public to report all cases of cryptocurrency mining, setting up a reporting hotline, an office address and an email address to solicit tips for law enforcement authorities.

Bitcoin appears to stabilize after dramatic correction

The world’s biggest cryptocurrency may have found a new trading range after being battered yesterday following an apparent Chinese clampdown on cryptos, partly reversing losses of around 30% seen when investors dumped their coins on Wednesday.