Government

Revolut Reacts To Corona Crisis, Pushes out New Crypto Support

Source Node: https://insidebitcoins.com/news/revolut-reacts-to-corona-crisis-pushes-out-new-crypto-support/256350
Time Stamp: April 3, 2020 6:46 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Revolut, a digital banking app, has recently rolled out its cryptocurrency services to all of its standard users. This comes alongside a statement from the app itself that it widened its access earlier due to the current global economic crisis.This Is No April Fools’On the first of April, 2020, the UK-based fintech service provider made the announcement that it will allow for cryptocurrency accounts and trading to all of its standard users, with a 1.5% flat fee per trade. Before this announcement, these services were reserved only to its Premium

Brazilian Regulators Create DLT Platform for Screening Politicians

Source Node: https://cointelegraph.com/news/brazilian-regulators-create-dlt-platform-for-screening-politicians
Time Stamp: April 3, 2020 6:31 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Four of Brazil’s financial regulatory institutions are collaborating to build a streamlined blockchain-based data-sharing platform to perform background checks on political representatives and corporations.The platform, dubbed PIER, was developed by Brazil’s central bank Banco Central do Brasil (BCB). The platform saw initial participation from the BCB, the Brazilian private insurance superintendent, and the local securities regulator to inform its database. Brazil’s social security supervisor is set to soon participate in the program too. The Brazilian government is also contemplating incorporating data collected by the country’s judiciary, trade boards, and international financial

Is Blockchain Necessary? An Unbiased Perspective

Source Node: https://cointelegraph.com/news/is-blockchain-necessary-an-unbiased-perspective
Time Stamp: April 3, 2020 3:42 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Yes, that’s the question we are asking today. Is blockchain technology necessary? The answer is tricky. To arrive at the conclusion takes an unbiased perspective. Bankers and people in the stock market will tell you that it’s the epitome of evil. Blockchain engineers and enthusiasts will tell you it’s the future of the world. The government, as usual, will be indecisive.Both are overly eager in their opinions, and both are unfortunately wrong. Blockchain is wonderful and revolutionary, no doubt there. But it has some very serious cons that are underplayed

As Hospital’s Crumble, Venezuela’s President Airdrops Petros to Doctors

Source Node: https://cointelegraph.com/news/as-hospitals-crumble-venezuelas-president-airdrops-petros-to-doctors
Time Stamp: April 3, 2020 1:30 AM - Modified On: August 29, 2021 - Published By:
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Nicolas Maduro, a former bus driver and Venezuela’s sitting president, has announced a campaign to support his country’s medical staff amid the coronavirus pandemic by airdropping one Petro to each doctor.The ‘Doctors of the Homeland’ initiative will see each Venezuelan doctor air-dropped one of the administration’s oil-backed Petro cryptocurrency tokens, as per an April 2 tweet published by a government official. Venezuela to issue Petro bonus to doctorsThe tokens will be distributed using Venezuela’s ‘Patria System’ — a platform launched by the government to bypass the nation’s failing banking system and

Spanish Tax Watchdog Puts 66,000 Crypto Traders on Notice

Source Node: https://cointelegraph.com/news/spanish-tax-watchdog-puts-66-000-crypto-traders-on-notice
Time Stamp: April 3, 2020 12:26 AM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

The Spanish tax authority has begun sending out warning notices to 66,000 cryptocurrency holders to remind them of their tax obligations.According to Europa Press, the Agencia Estatal de Administración Tributaria (AEAT) began the campaign on April 1, and will keep firing off letters until June 30 in the midst of the national COVID-19 crisis.The 66,000 notices represents a sharp increase from 2019, the first year of the campaign, when a reported 14,700 notices were sent out. The tax watchdog is also targeting those who earn income abroad and from real estate

Huge Rise in Chinese ‘Blockchain’ Companies — But Are They Real?

Source Node: https://cointelegraph.com/news/huge-rise-in-chinese-blockchain-companies-but-are-they-real
Time Stamp: April 2, 2020 11:56 PM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

More than 35,000 blockchain companies are operating in mainland China —  but it’s believed that many of them do not even use blockchain technology.In the first quarter of 2020, as COVID-19 shut down factories, offices and cities across the  world, 2,383 brand-new “blockchain” companies sprung up in China.This brings the total to 35,010 companies as of April 1 — over 20,000 in Guangdong province alone — according to Tianyancha, a business data company.But in mid-February data firm LongHash estimated that approximately 70% of the total number of blockchain firms registered

How the Pressures of the Coronavirus May Open the Door for Tokenization

Source Node: https://cointelegraph.com/news/how-the-pressures-of-the-coronavirus-may-open-the-door-for-tokenization
Time Stamp: April 2, 2020 2:16 PM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

The coronavirus pandemic is the only thing on most people’s minds right now around the world.The pending economic fallout is only surpassed by the anxiety induced by surging cases in both the United States and Europe. People remain firmly in quarantine around the world, and consumer demand has fallen off a cliff as people are holed up with only basic necessities.Paired with the awful Purchasing Managers’ Index numbers published by the National Bureau of Statistics and the China Federation of Logistics and Purchasing, as well asearly U.S. indicators, we’re about

Indian Cryptocurrency Exchange to Expand Internationally

Source Node: https://insidebitcoins.com/news/indian-cryptocurrency-exchange-to-expand-internationally/256161
Time Stamp: April 1, 2020 11:27 PM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

An Indian cryptocurrency exchange, BuyUcoin, has just received a license to expand internationally, according to a report from Business Standard.Apparently, the platform received what is called a crypto trade and wallet license from Estonia. Based in Delhi, BuyUcoin will only expand to countries with a clear regulation for cryptocurrencies.Speaking on the matter is BuyUcoin CEO and a co-founder of the project, Shivam Thakral:“The incredible judgment will lead to economic growth, job creation, investment opportunities along with overall mass adoption for blockchain and cryptocurrency-based products and services. At BuyUcoin, we strive

Fed’s Quantitative Easing Strategy Holds Long-Term Benefits for Crypto

Source Node: https://cointelegraph.com/news/feds-quantitative-easing-strategy-holds-long-term-benefits-for-crypto
Time Stamp: April 1, 2020 11:30 AM - Modified On: August 29, 2021 - Published By:
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Republished By Plato

These are perilous times, and it hasn’t escaped anyone’s notice that the United States Federal Reserve is doing its part to alleviate the suffering — which began with the coronavirus pandemic and has spread to the global economy. It’s printing more money. “There is an infinite amount of cash at the Federal Reserve,” Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, told Scott Pelley of CBS on March 22, adding: “We will do whatever we need to do to make sure there is enough cash in the financial