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Euro-Backed Stablecoin ‘EURS’ Gets Listed On HitBTC

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2018 News on Ethereum, Ripple, and Bitcoin

The major cryptocurrency exchange HitBTC recently added support for the euro-pegged stable coin named ‘EURS’ – right after the announcement that an institutional investor snapped up a $10 million stake in the coin a few days after it launched in Malta.

Right now, the coin is seen as the world’s first crypto EUR to crypto USD pair that is trading live on the crypto exchange HitBTC. The news was also tweeted by the exchange.

According to many analysts, this is definitely a huge achievement for the stablecoin which launched a couple of days ago. As an analyst and the CEO of Stasis, Gregory Klumov said:

“We sold $2 million worth of EURS today and this HitBtc development continues to check further boxes in our attempt to become the stablecoin for investors and money market operators”

Right now, HitBTC claims to be one of the most advanced crypto exchanges around the world (despite the criticism in the past). According to the crypto maverick John McCafee:

“The crypto exchanges have become the thing that we have originally fought against. Their power is immense. Hitbtc, for example, has increased suffering for millions of poor people who cannot afford the minimum buy-in since it is greater than their monthly income.”

This was the main indication for the “keyboard war” between McCaffee and HitBTC, even though some analysts said that this was all good publicity for both McCaffee and the exchange.

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Russia’s Central Bank Looks Into The Pros And Cons Of CBDC

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Russia’s central bank is reviewing the potential pros and cons of the central bank digital currencies according to a policy brief published two days ago. In our latest cryptocurrency news, we discover more. In the policy brief a document named ‘’Is there a future for central bank digital currencies’’ was brought up and Russia’s Central bank outlined multiple benefits of the CBDCs. The central bank digital currencies have a huge capability to reduce down the transaction costs but also to provide a less risky asset and to improve liquidity. However, Russia’s central bank pointed out that central bank digital currencies have the potential to reduce the transaction costs can only be possible if there is a technical solution for them. For example, CBDCs will offer improved tools in terms of ease when conducting payments and savings in comparison to debit cards and fiat money. While there are a lot of positive sides of CBDCs, Russia’s central bank explained the possible drawbacks of the central bank digital currencies such as lack of anonymity. To be more exact, the CBDC’s are unable to provide a higher level of anonymity in comparison o cash. The document pointed out:
 “CBDC de facto cannot provide the same level of anonymity that is provided by cash. This is  certainly an advantage for regulators, but can be considered a disadvantage by users, not only those who are involved in suspicious activities, but those who are concerned about privacy.”
Russia’s central bank also pointed out that central bank digital currencies can compete with commercial bank deposits when there is low inflation and not so high-interest rates. CBDCs can also become almost equal to cash but only in cases of providing liquidity and ease of use. As previously explained in almost all of the best cryptocurrency news sites, central bank digital currencies are digital currencies issued by a central bank. They have the status of a legal tender but also have elements of centralized money. Despite Russia’s central bank, the World Economic Forum also released a report claiming that there are about 40 global central banks that plan to use CBDCs. Some of the central banks interested include the Bank for International Settlements and the State Bank of Pakistan.
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SBI Holdings Removes BSV But Not As A Part Of The Delisting Campaign

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SBI Holdings the Japanese Financial giant, removed Bitcoin Cash from its exchange last week but claims it was not a part of the delisting campaign against BSV. In today’s coming altcoin news, we read more on this misunderstanding. According to the Cointelegraph Japan reports from April 19, the SBI holdings giant never actually offered Bitcoin Satoshi Vision trading. The company only allowed Bitcoin Cash trading and this has always been seen as a controversial move. Removing Bitcoin cash from the platform happened during the most controversial times since many crypto exchanges delisted the BSV cryptocurrency as an overall industry boycott. As DC Forecasts previously reported in the altcoin news, exchanges such as Kraken and Binance stopped providing support for Bitcoin Satoshi Vision after Craig Wright made multiple legal threats towards Twitter user Hodlonaut but also against podcaster Peter McCormack for accusing him of being a fraud. SBI Holdings has nothing to do with the accusations and the delisting campaign that started on Twitter. Bitcoin Satoshi Vision (BSV) is a hard fork of Bitcoin Cash after Craig Wright and Ayre claimed that the altcoin is the original bitcoin. Wright also made claims that he is the real creator of the number one cryptocurrency. During his statements, the value of both altcoins fell dramatically. The move by SBI holdings removing BCH comes at a time when other companies choose to delist BSV in a time of criticism. However, the SBI Holdings giant was also criticized for the decision since the company has made a lot of partnerships with Wright’s businesses and especially with nChain which is also under Wright’s ownership. In a statement, the executives denied conflict of interest:
 “It is true that we do have a business relationship with Mr. Craig Wright through our partnership with nChain. However, our decision to delist Bitcoin Cash (ABC) is unrelated to the delisting of Bitcoin SV by several non-Japanese exchanges.”
SBI Holdings made clear that the BCH delisting was premeditated and a decision was brought after a long consultation with the Japanese Virtual Currencies Exchange Association. The decision comes at a time when BSV is reaching almost all headlines in every best cryptocurrency news sites but the company states it is a coincidence. As of press time, Bitcoin Cash is trading at 3.2 percent lower at $299 while Bitcoin Satoshi Vision is trading around $59 despite the massive delistings.
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Renminbi Chinese Currency To Officially Become A Cryptocurrency

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Renminbi, Chinese currency, the official currency of China (RMB), should become a cryptocurrency in the future according to Donald Tapscott.  He is the executive chairman of the Blockchain Research Insitute and was interviewed a few days ago so we read more about in the altcoin news below. In the interview with Bloomberg, Tapscott revealed that he met with the vice-chairman of the Communist Party in China and discussed the future of the country. They also discussed the Renminbi Chinese currency since the crypto and blockchain technology is the future of the country. Speaking about the government’s stance on cryptocurrency and the ban, Tapscott pointed out that China is looking into banning crypto mining as well but this could have a huge impact on the Renminbi Chinese currency. He added on the usage of the Renminbi Chinese currency:
 “It’s not really necessary to do that [to ban exchanges and mining] because in 20 years we are not going to be using bitcoin in China. Chinese people will use the RMB, only the RMB will become a cryptocurrency. The central bank of China will turn it into a digital currency.”
Tapscott also gave a long explanation on decentralized exchanges as all of the best cryptocurrency news sites reported. He explained the Initial Coin Offering ban in the country and said that the government has a harsh stance towards using digital currencies. He suggested that decentralized exchanges should outperform the centralized ones since they have the ability to be more transparent and can identify ‘’bad behavior.’’ All assets, including the Renminbi Chinese currency, should join the decentralized exchanges according to Tapscott. The Chinese authorities are discussing the possible ban on crypto mining. The National Development and Reform Commission (NDRC) added crypto mining on the revised list of industrial activities. The agency believes that the crypto activities don’t provide safe production conditions. However, the country is a huge player in the bitcoin market since the Renminbi Chinese currency is often traded against the number one cryptocurrency. China is also one of the largest bitcoin mining pools owner. Bitmain for example, in 2018 operated about 11 mining farms in China so he was affected by the national agency’s reported plans. As for the blockchain technology, China is also among the places in the world with the largest number of blockchain projects. There are currently more than 264 projects. This is also one of the reasons why the Renminbi Chinese currency should become an official cryptocurrency.
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Bakkt Exchange Eyeing A New York License Following Launch

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The Bakkt exchange is in the coming altcoin news for its decision to pursue a New York License from the owner of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE). The NY license will aid Bakkt and its long-delayed crypto exchange. Knowing that the launch of the Bakkt exchange has been held up for five months now, reports showed that most of the delay lies in the difficulty of obtaining the Commodity Futures Trading Commission (CFTC) to approve it to custody Bitcoin for its planned and physically-delivered futures contracts. ICE would apparently need a license from the New York Department of Financial Services (NYDFS) as a possible solution according to a Bloomberg report. For those of you who don't know, such physically settled contract would mean that buyers would receive the actual commodity - Bitcoin - at maturity. Right now, the CFTC is concerned over the issue of safeguarding clients' Bitcoin which is linked to Bakkt exchange and its future product. Thus, a state license will definitely help Bakkt to cut through its reservations, as the report shows. The exchange may also be moving to enable retail transactions using BTC for firms such as Starbucks (which is a Bakkt investor) as the best cryptocurrency news sites reported. Right now, if ICE is ready to pull off the New York registration for the Bakkt exchange, it might also allow CFTC to issue its futures by self-certification and in that manner sidesteep the regulator's requirements that client funds are deposited in either a bank or a trust company. However, even if they manage to obtain the license and custody crypto in the New York state, the Bakkt exchange would still need a green light from the CFTC over its wider operations, as reports show. ICE planned to launch Bakkt in mid-December, but the deadline was moved to January 24 later on. Then, on New Year's eve, the big day was again delayed indefinitely, and ICE said that the January target "will be amended pursuant to the CFTC’s process and timeline" which means that the Bakkt exchange is still waiting for regulatory approval. As the latest cryptocurrency news show, Bakkt is continuing to build out its product and systems, without putting an accent on the license.
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