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carlp • Feb 16, 2024, 12:29 pm EST

Cash App Under Federal Scrutiny

Amid a growing scrutiny of digital payment platforms, Cash App, a widely used mobile payment application, finds itself at the center of new regulatory attention. Recent allegations by whistleblowers suggest that the platform, alongside its transaction service partners, may have fallen short in conducting adequate due diligence on customers, potentially opening doors to illegal activities like money laundering and terrorism financing. NBC News first broke the story this morning. The Whistleblowers’ Allegations: A Wake-Up Call for Digital Payments The whistleblowers, whose complaints have been taken up by the Financial Crimes Enforcement Network (FinCEN), paint a picture of potential regulatory lapses

3 minutes

arusso • Feb 13, 2024, 10:21 am EST

Bitcoin Hits 50K

Bitcoin crossed the $50,000 threshold for the first time since December, 2021, yesterday, February 12th, 2024. The market watches closely as the next halving approaches. Is it possible to hit a new all time high BEFORE the halving?

1 minute

carlp • Feb 12, 2024, 1:58 pm EST

Another Federal “Emergency” is Just an Excuse to Collect Bitcoin Mining Data.

In a recent, controversial move, the Energy Information Administration (EIA) of the United States has initiated an emergency data collection on Bitcoin mining operations. This step, taken amidst growing, albeit debunked, concerns over electricity systems and market uncertainties, raises significant questions about the future of Bitcoin mining in the U.S. and its impact on the power grid. Bitcoin Mining’s Unexpected Role During the Texas Winter Storm Interestingly, the EIA’s decision coincides with an event demonstrating Bitcoin mining’s potential benefits to the power grid. During a severe winter storm in Central Texas, Bitcoin miners voluntarily shut down operations, alleviating stress on

3 minutes

Zach Menzel • Feb 7, 2024, 4:16 pm EST

Binance Set To Delist Monero Among Other Alt Coins

Binance, a leading cryptocurrency exchange, has announced that effective February 20th, 2024, it will be delisting several altcoins from its platform. This decision follows a lawsuit from the United States Securities and Exchange Commission (SEC), which has clarified which specific coins are affected. Among those being removed are Aragon (ANT), Multichain (MULTI), Vai (VAI), with Monero (XMR) being the largest and most notable. The Unique Case of Monero Monero stands out among these altcoins. While the precise reasons for its delisting are not disclosed, some news outlets, including The Crypto Potato, speculate that the primary concern is the coin’s emphasis

2 minutes

carlp • Jan 30, 2024, 11:09 am EST

Big Tech Teams Up with Wall Street: Reverses Bitcoin Advertising Ban

Google’s recent update to its advertising guidelines, allowing Bitcoin Exchange-Traded Funds (ETFs) to market their products, marks a significant change in the company’s approach to cryptocurrency. However, this shift appears less about championing the broader bitcoin and crypto industries and more about aligning with the interests of major financial players. “It’s frustrating to have spent years being locked out of such a massive piece of the advertising game and now, just like that, ‘crypto trusts’ can advertise freely. The influence of lobbyists is remarkable.” Laurie Argall, Byte Federal, CMO For those of us in the Bitcoin ATM business, Google’s decision

2 minutes

carlp • Jan 30, 2024, 10:10 am EST

Hong Kong SFC Receives Its First Application for a Spot Bitcoin ETF

Hong Kong’s Emerging Role in Cryptocurrency Investments Harvest Fund Management, a notable investment manager, has officially applied for a spot Bitcoin (BTC) Exchange-Traded Fund (ETF) with the Securities and Futures Commission (SFC) of Hong Kong. This initiative positions Hong Kong as a potential frontrunner in the ecosystem, reflecting a level of institutional involvement comparable to the United States. The submission of this application signals Hong Kong’s growing ambition to establish itself as a central hub for crypto-based financial products. The willingness of the SFC to entertain the idea of multiple Bitcoin ETFs could revolutionize investor engagement in the cryptocurrency market,

2 minutes

johnd • Jan 25, 2024, 2:11 pm EST

EFF and 110+ NGOs Challenge the UN’s Cybercrime Treaty

The Electronic Frontier Foundation (EFF) and 110 other groups have united to convey to the United Nations that they are unhappy with a proposed treaty on cybercrime. Since May 2021, countries in the United Nations have been working together to create a set of rules for dealing with cybercrime. If these rules are accepted by all the countries in the UN, it would be the first time the UN would have a firm agreement on how to handle cyber issues. This agreement could become a definitive set of rules worldwide, helping countries work together to stop and investigate cybercrime and

2 minutes

Noel Hernandez • Jan 17, 2024, 9:53 am EST

Venezuela’s Petro Cryptocurrency: A Failed Experiment

The Venezuelan government’s ambitious project, the petro cryptocurrency, has ended abruptly. The petro, once heralded as a groundbreaking solution to circumvent US financial sanctions, has failed in its mission and fallen victim to a major corruption scandal. With great expectations, the petro was launched in 2018, touted as a digital currency backed by Venezuela’s abundant oil reserves. However, the initiative was suspended on January 15, signaling the end of a controversial chapter in Venezuela’s economic history. This decision has had little impact on citizens like Isabela, whose elderly parents received meager petro pensions. The impracticality of the currency, which had to be

2 minutes

Kenneth Shortrede • Jan 15, 2024, 12:35 pm EST

Argentina’s Journey into Financial Innovation: Embracing Bitcoin and Economic Freedom

Argentina has recently made a significant advancement in financial modernization with the establishment of its first Bitcoin rent contract. In the first move of its kind, a rental agreement in the city of Rosario was established to be paid in Bitcoin every month, for the equivalent of 100 USD at the time of each transaction. This groundbreaking initiative follows President Javier Milei’s recent policy, which permits contractual agreements in any chosen currency or commodity, whether traditional options like dollars or more unconventional ones like Bitcoin, other cryptocurrencies, oil, or even milk gallons – symbolizing absolute freedom for the individuals. Under

3 minutes

johnd • Jan 11, 2024, 1:01 pm EST

Spot Bitcoin ETFs to Trade on US Markets: What Happens Now?

The U.S. Securities and Exchange Commission (SEC) has recently approved the listing of spot Bitcoin Exchange-Traded Funds (ETFs) What can we expect moving forward?

3 minutes