Crypto Fact

The rumours around crypto ban in India is premature, said crypto engage founders CoinDCX launches crypto and blockchain learning platform, DCX Learn US govt plans to add crypto features to its fiat currency    The cryptocurrency community is in a dilemma as the Indian government recently  announced  that it was planning to introduce legislation to  ban cryptocurrencies . The finance ministry, on June 12, has passed a draft cabinet note which seeks to set up a legal framework for banning cryptocurrency in India. According to media  reports , the note has been shared with the other ministries for consideration. However, the details of the draft are not available.    The report stated that the government would lean on a previously drafted bill by Garg committee, from July 2019, which proposed all forms of cryptocurrency are banned and anyone caught holding them could face a hefty fine and up to ten years imprisonment. “It’s not clear whether the fina...

  Bitcoin futures trading has grown significantly on some exchanges. Has this occurred at the expense of others?    The coronavirus has caused epic reorganizations in every corner of the global economy. This is also true in the cryptocurrency futures market.   In fact, today, the Bitcoin derivatives space looks quite different than it did several months ago; the kinds of contracts that are being traded most commonly are shifting, as well as the platforms that are being most commonly used for trading them. Much of these changes can be attributed to the economic fallout and BTC price volatility caused by the outbreak of the coronavirus. However, the Bitcoin futures market has also been affected by the Bitcoin halving event that took place earlier this month. Now that the world is three months into the post-corona era, and the Bitcoin space is two weeks past its most recent halving, how exactly has the Bitcoin derivatives landscape shifted? Has the growth that has ...

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     Crypto currency companies are expected to revive plans to invest and expand their business in India following a  Supreme Court  verdict overturning a Reserve Bank of India notification that had restricted banking access for virtual currency trading. ZPX will consider ramping up operations in India, said Ramani Ramachandran, CEO of the Singapore-based crypto firm. WazirX will start investing in the Indian market this year, said Nischal Shetty, cofounder of the crypto-exchange firm. India’s virtual currency industry had come to a standstill following the April 2018 notification that prohibited use of banking channels for transactions of cryptocurrencies such as  Bitcoin . Several exchanges shifted overseas or closed their business altogether in the last two years. “When a regulator like  RBI  bans, the market closes down. Six months back, we pivoted from crypto to blockchain, as we had to sustain. No investor was ready to back us amid t...

       A   passionate two-minute speech delivered by Godfrey Bloom, a member of the European Parliament from 2004 to 2014, is  spreading   through Crypto Twitter like wildfire. The 2013 speech is a shakedown on the global financial system. During the presentation, Bloom declares that all the banks are broke. At that time, on May 21, 2013, Bitcoin was trading at $122 and remained a fringe asset among techies and cypherpunks. It would take the remainder of the decade to transform BTC, now trading above $10,000, into the best-performing asset of the last 10 years, attracting legacy giants like Fidelity and Intercontinental Exchange that are putting their full weight behind blockchain-based infrastructure. During that same period, numerous banks, including Deutsche Bank and Danske bank, have been embroiled in multi-billion-dollar money laundering scandals and consumer fraud. Wells Fargo, after the collapse of a scheme to create bogus cus...

  U.S. President Donald Trump’s  $4.8 trillion budget  proposal for FY 2021, released Monday, seeks to expand the Treasury Department’s cryptocurrency oversight by returning the United States Secret Service, now a division of the Department of Homeland Security, to its jurisdiction.  The reshuffling would “create new efficiencies” in the Secret Service’s investigation of criminal acts involving cryptocurrencies and the financial marketplace, the executive report reads. It will also give Treasury more fire power to, as the budget reads, “disrupt terrorist financing, hold rogue states and human rights abusers accountable, and detect and deter financial crimes.” The Secret Service is better known for protecting U.S. presidents and their families, but it is also responsible for investigating a wide range of financial crimes including fraud and counterfeiting, among others.  “Technological advancements in recent decades, such as cryptocurrencies and...

Don’t let moral anguish over the deaths of potentially thousands of people get in the way of an opportunity to shill some crypto and pump up the price of bitcoin. As ever, crisis is opportunity for cryptocurrency lovers. In the past they’ve seized upon everything from a banking collapse in Cyprus to social breakdown in Venezuela and Brexit to rationalise the case to buy MOAR bitcoin. Clearly Coronavirus was not going to be different. But how have they squared the logic this time round? Duh. Coronavirus is spreading through the exchange of DIRTY FILTHY FIAT banknotes. So don’t be a dummy, protect yourself and turn to digital-only crypto. No lurgies there. Some  fine examples  of the logic  at hand:      No reference to the point, however, that fiat can be exchanged purely digitally or that China has one of the highest digital transaction rates in the world already... But the coronavirus/bitcoin connections don’t stop there. For ...

 After a long and cryptic series of tweets on Bitcoin (BTC), SpaceX and Tesla CEO Elon Musk elaborated his stance on cryptocurrencies in a Jan. 20  podcast . Noting that he’s “neither here nor there on Bitcoin,” Musk focused on its use for illegal transactions. The billionaire has recently been in the spotlight for several short and cryptic tweets related to cryptocurrency. On Jan. 10 he published a  tweet  saying “Bitcoin is *not* my safe word.” This follows an equally cryptic  tweet  from April 2019, saying “Cryptocurrency is my safe word.”  But while they were generally considered to be jokes, especially in light of previous  tweets  where he pledged to take “Tesla private at $420,” Musk’s early history is deeply tied to the financial technology industry. In 1999, Elon Musk founded X.com, an online bank that through later mergers became PayPal. He mentioned the company in the podcast, noting: “If PayPal had executed t...

Bitcoin traders and investors have been warned to expect  bitcoin volatility  this weekend due to Lunar New Year celebrations in China. The bitcoin price has this week given up some of its early 2020 gains  after climbing above $9,000 per bitcoin last weekend , dropping almost 10% over the last seven days— and falling further yesterday following a sharp change in bitcoin sentiment .  "The Year of the Rat starts this weekend. Time for bitcoin volatility and volumes to nose dive," Arthur Hayes, the chief executive of the Seychelles-based bitcoin and cryptocurrency exchange Bitmex, said via  Twitter .  Lunar New Year celebrations, expected to be somewhat muted due a coronavirus outbreak that's killed at least 25 people in China and put many cities in the country on lock down, traditionally sees millions of people travel home for the weekend. "Fireworks in store,"   said   Travis Kling, who runs Ikigai Asset Management, adding May’s ...