This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, financing for small and medium-sized businesses, and Bitcoin (BTC). Central bank delegates from Ghana to Burundi, Jordan to the Maldives and Pakistan to Costa Rica arrived in San Salvador for the conference upon…
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The Congressional Research Service (CRS), a legislative agency that supports the United States Congress, has published a document that contains a rundown on algorithmic stablecoins and points out key factors to look at in the TerraUSD (UST) crash. In the report, the CRS described the UST crash as a “run-like” scenario and posited that there are…
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This week will be remembered as the one when the stablecoins showed an unexpected ability to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the headliner of stablecoins’ niche, while Tether (USDT) lost the balance and slid to $0.96 for…
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Bitcoin (BTC) returned to $30,500 on May 17 amid hopes that a retest of 2017 highs could be avoided. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $20,000 retest ‘highly unlikely’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing after the daily close to tentatively build on $30,000. Still, in a multi-day range, the…
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The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report. China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government…
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Officials from the Reserve Bank of India (RBI) have reportedly sounded the alarm bells again over crypto adoption, which they claim will ultimately lead to the “dollarization” of the local economy. According to a Monday report from the Indian branch of the Economic Times — which cited unnamed sources — the RBI’s concerns are focused…
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To the chagrin of many Golden Visa seekers, Portuguese Finance Minister Fernando Medina has confirmed that his country will begin taxing cryptocurrency but has not committed to a date. The move to start taxing crypto was seconded by Secretary of State for Tax Affairs António Mendonça Mendes on May 13 according to Sapo, a local…
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The United States Department of Justice may move forward on a criminal prosecution case against a U.S. citizen who allegedly violated sanctions through cryptocurrency. According to a Friday opinion filing in U.S. District Court for the District of Columbia, the unnamed individual who is the subject of a criminal investigation by the Justice Department allegedly…
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A California state regulator may be looking at overturning a ban on cryptocurrency donations to political campaigns which has been in effect since 2018. According to its May 2022 agenda, California’s Fair Political Practices Commission, or FPPC, has scheduled a “pre-notice discussion” on Thursday on the use of cryptocurrencies to make campaign contributions in the…
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Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to recover the $30,000 level in the short term. Bitcoin/USD 4-hour price at Bitstamp. Source: TradingView Does derivatives data support reclaiming…
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