Bitcoin mining difficulty has decreased by 28 percent, considering the recent drop-in hash rate caused by China’s declaration in May to clamp down on mining and trading. This difficulty adjustment was the largest in its history with more than 54 percent of bitcoin’s hash rate, which is the collective computing power of miners worldwide, has […]
Cryptocurrency
As cryptocurrency market is one the rise, Bank of France governor fears France is running out of time to regulate its cryptocurrency policy. Francois Villeroy de Galhau; Governor of France’s central bank spoke in Europlace financial conference about the importance of “considering crypto regulations as a priority or risk digital assets challenging its monetary sovereignty.” […]
Popular cryptocurrency exchange company Binance has been baned by the UK’s Financial Conduct Authority (FCA), citing claims that it is not authorized to undertake any regulated activity in Britain, a statement by the watchdog said late last week. Binance is one of the main cryptocurrencies exchanges that provides a platform for trading various cryptocurrencies. Despite […]
Mexico’s central bank on Monday swatted down the cryptocurrency enthusiasm expressed over the weekend by one of the country’s leading bankers. Ricardo Salinas Pliego, a magnate with large operations in retail, banking and television who has been seen as President Andrés Manuel López Obrador’s closest business ally, wrote in his social media accounts Sunday that […]
Just around one month ago, Tesla stopped accepting Bitcoin as payment for vehicles citing precisely environmental concerns as the main reason. The reason for this is that Bitcoin, and in fact, most cryptocurrencies, use an energy exhaustive method to mine and complete transaction. The creation of new Bitcoins, or mining, is essentially rewarding the user, […]
El Salvador’s president says use of the cryptocurrency Bitcoin will not be mandatory, but the country is planning to give out starter accounts with $30 to promote its use. Finance Minister Alejandro Zelaya said Thursday the government will allocate $120 million to establish as many as 4 million starter Bitcoin accounts, or “wallets,” though he […]
China’s biggest banks promised Monday to refuse to help customers trade Bitcoin and other cryptocurrencies after the central bank said executives were told to step up enforcement of a government ban. Regulators appear to worry that despite the 2013 ban on Chinese banks and other institutions handling cryptocurrencies, the state-run financial system might be indirectly […]
After El Salvador’s congress made the bitcoin legal tender this week, eyes turned to this rural fishing village on the Pacific coast. Known to surfers for its pounding waves, El Zonte has had the cryptocurrency in its economy for the past year. Some 500 fishing and farming families use bitcoin to buy groceries and pay […]
DubaiCoin, the digital currency intended to pay for a range of goods and services both in-store and online in the UAE, has been unveiled to be a scam, Dubai’s government said earlier last week. “DubaiCoin cryptocurrency was never approved by any official authority,” the government said on its Twitter account. “The website promoting the coin […]
El Salvador’s Legislative Assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first nation to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference. The digital currency, originally created to be money out of the control of governments, can be used in any transaction […]