U.S. government

U.S. Banks Entering Cryptocurrency Adds Real Legitimacy To The Industry

The United States government is once again adding more legitimacy and credibility to the rapidly growing cryptocurrency industry. This is through clear regulations that will further incorporate the sector into the country’s financial system and economy. Sponsored Sponsored In an interview with Reuters, Jelena McWilliams, chair of the Federal Deposit Insurance Corp. (FDIC), said that banks must be allowed to hold crypto on their balance sheets, provide custodial accounts in digital assets and facilitate crypto trading for clients. Thus, demonstrating the rapid rise of digital assets this year. In addition to

Bitcoin’s ‘potentially serious implications’ on future of investment, global finance

Crypto demand skyrocketed as inflation fears grip the market and governments continue to print more money. It is noteworthy that the US inflation picture remains worrying with the rate recently hitting a 13-year high of 5.4%. U.S. Debt Apart from these concerns, the U.S. debt is piling up. In a recent commentary piece, Avik Roy estimated the extent of debt in the US and how Bitcoin adoption can change it. He explained, “The single largest holder of U.S. debt is the U.S. government.” The situation is set to worsen, according

Questions Remain Around The OCC Decision To Allow Banks To Custody Crypto

The recent Comptroller of the Currency (OCC) ruling that national banks and savings associations can provide cryptocurrency custody services to clients is one of the biggest milestones in the short but spectacular lifetime of digital currencies. Now that U.S. banks have the green light to begin custodying crypto, everybody knows that the rules have changed — we just don’t yet know exactly how.  As the dust begins to settle, there are a number of important questions we need to ask. What is the thinking behind the OCC’s letter? Why now? And

Blockchain-Backed Social Media Brings More Choice for Users

As people continue to rethink topics like technology development, economic measures and freedom of speech because of the COVID-19 pandemic, blockchain has now emerged as a solution for many issues. Iva Wisher, co-founder of Ignite, a decentralized microblogging platform, said blockchain may also be a solution against state-sponsored censorship in today’s pandemic-related new normal. During an interview with Cointelegraph, Wisher clarified that in general, freedom of speech means a “possibility to express any opinion, even an unpopular one, unless this opinion is not a call to violence.”The blockchain technology then could

OneCoin Co-Founder Escapes 90-Year Jail Term Following Court Settlement

Konstantin Ignatov, co-founder of major cryptocurrency exit scam, OneCoin, initially faced up to 90 years in jail after pleading guilty in November 2019. Now, however, it seems that Ignotov is no longer one of the key defendants in legal actions brought by victims of the $4 billion scam, according to a report from Finance Magnates on Aug. 7.OneCoin investors representing plaintiffs Donald Berdeaux and Christine Grablis have agreed to settle with Ignatov.While the details of the court settlement remain unclear, court documents indicate that the case will continue to target

Grandmas On Lightning

Is Bitcoin Too Hard To Understand? I’ve spent a huge part of the last three years explaining Bitcoin to general audiences and the most common form of resistance I encounter is: “Bitcoin is too complicated. The masses will never understand it.” It’s a fair argument. Bitcoin is complicated and if you want to reach a competent understanding of the big picture then, at a minimum, you’d better get ready to learn about peer-to-peer networks, cryptography and the history of money. It’s for this reason that I find it bizarre when

The Bulls Are Back in the Digital Asset Market

Hope you had an excellent weekend. It’s become a bit of a rarity lately while bitcoin was sitting flat, but now that crypto is in a bull market again, I suppose it makes sense to see some volatility over the weekend. Hope it’s not surprising to anyone. Stocks are moving up, precious metals are marching higher, and capital is flowing toward new age financial technology in a way that we’ve never really seen before. There’s a lot more liquidity these days, and it has been floating into all sorts of

‘Rich Dad Poor Dad’ Author Says Gold, Silver, and Bitcoin Lie Outside the System

Millionaire businessman and author of the book Rich Dad Poor Dad, Robert Kiyosaki, mentioned Bitcoin (BTC) numerous times in a podcast interview with Morgan Creek Digital co-founder, Anthony Pompliano, referring to the asset as an escape.“The reason I endorse Bitcoin is because is just for one frickin reason — you’re not part of the system,” Kiyosaki said. “It’s a separation of government and my money,” he laughingly added, quoting sentiment Pompliano has expressed many times.   Uncertain times can spurr flight to safetyThroughout the interview, Kiyosaki riffed on many concepts through the

Bitcoin Naysayer Jamie Dimon Praises $2 Trillion Stimulus While Predicting Great Recession

JPMorgan Chairman and CEO Jamie Dimon praised the U.S. government for quick action in the wake of COVID-19, yet he criticized it for not having a “pandemic playbook.”Dimon is mostly known among the crypto community for his derisive statements about Bitcoin (BTC). In September 2017, Dimon called Bitcoin “a fraud” right before its historical peak.  On another occasion he said:“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.”A few months later, he acknowledged regretting those statements. (And when JPMorgan subsequently announced the JPM Coin,

Notable Dark Web Marketplace Bans All COVID-19 Vaccine Sale 

In a rare move that has perhaps never been seen before, a marketplace on the dark web has banned the sale of a self-proclaimed vaccine for the coronavirus pandemic. According to a tweet from noted tech author Eileen Ormsby, Monopoly Market, a popular platform on the dark web, has banned the sale of purported vaccines for the coronavirus for Bitcoin.Darknet market Monopoly has taken a more responsible approach to touting #COVID19 "cures" on their #darkweb site pic.twitter.com/uWFLx75deQ— Eileen Ormsby (@EileenOrmsby) April 1, 2020Honor Among Criminals As the tweet showed, the market’s administrator pointed