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IMF Warns Against Adopting Crypto Assets Like Bitcoin as Legal Tender
28.7.2021
The International Monetary Fund (IMF) has warned against adopting cryptocurrencies, like bitcoin, as legal tender. Noting numerous risks and costs involved, the IMF does not see crypto assets catching on as a national currency. IMF Warns of Risks in Adopting Cryptocurrencies as National Currency...
Namibia Central Bank to Complete Crypto Study By April 2022 — Governor Says Current Laws Do not Permit Use of Digital Assets
25.7.2021
The Bank of Namibia (BON) is on course to complete its study into cryptocurrencies by April 2022, the central bank governor, Johannes Gawaxab recently confirmed. The governor however reiterated that cryptocurrencies are not legal tender as there is currently no provision for digital currency use...
Bank of Russia Advises Stock Exchanges to Avoid Trading Crypto Instruments
23.7.2021
In line with its hardline stance on cryptocurrencies, the Central Bank of Russia (CBR) has issued a recommendation against the listing of securities tied to crypto assets on the country’s stock exchanges. The “preventive measure” will not affect state-issued digital currencies....
Paraguayan Lawmakers Present a Very Different ‘Bitcoin Bill’ Than Expected
19.7.2021
A group of Paraguayan lawmakers presented a ‘Bitcoin bill’ in the National Congress last week, but it turned out to be a very different proposal than what crypto followers expected. The bill seeks to control and regulate cryptocurrency transactions and establish taxes. There is...
Bitcoinization of El Salvador: JPMorgan Sees No ‘Tangible Economic Benefits’ of Bitcoin as Legal Tender
13.7.2021
JPMorgan has offered its view on the bitcoinization of El Salvador, the country which recently made bitcoin legal tender alongside the U.S. dollar. JPMorgan says, “It is difficult to see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.”...
Majority of Salvadorans Skeptical of BTC as Currency, Poll Finds
10.7.2021
President Nayib Bukele’s adoption of cryptocurrency as legal tender in his country is not being met with deep understanding by most of his fellow Salvadorans, a new survey suggests. Almost half of the respondents admitted they knew nothing about Bitcoin, while two-thirds aren’t ready...
Survey finds most El Salvador citizens are skeptical of making BTC legal tender
9.7.2021
More than half of Salvadorans surveyed don’t seem as keen as their president to adopt Bitcoin
Oracle Vinny Lingham Still Envisions $100K This Year if Bitcoin ‘Continues to Hold $30K’
28.6.2021
The former CEO of Gyft and the cofounder of the project Civic, Vinny Lingham has been called an ‘oracle’ at times for correctly predicting the future price of bitcoin. On various occasions all the way back to 2016, Lingham has made correct bitcoin price calls over the years. Even though...
Athena Bitcoin to Install 1,500 Bitcoin ATMs in El Salvador as BTC Becomes Legal Tender
25.6.2021
Bitcoin ATM operator Athena Bitcoin has unveiled its plan to install 1,500 bitcoin ATMs in El Salvador. Initially, the company will install dozens of machines as a test. El Salvador President Nayib Bukele wants 1,500 bitcoin ATMs installed and Athena Bitcoin said, “we will go for that, but...
Free Bitcoin: El Salvador Giving Away $30 in BTC to Everyone Using Government Wallet
25.6.2021
El Salvador President Nayib Bukele has announced a bitcoin giveaway to promote the cryptocurrency’s use as legal tender in the economy and to give people an incentive to use the government’s official wallet application. $30 in Free Bitcoin The president of El Salvador, Nayib Bukele...
Bitcoin Starts Legal Tender Test on Sept 7, Bukele Sees 'Dirty Campaign'
25.6.2021
The president of El Salvador, Nayib Bukele. Source: Twitter/ @PresidenciaSV
The most popular cryptocurrency, bitcoin (BTC), will become legal tender on September 7 and will be optional for those who don't want to receive it, El Salvador's President Nayib Bukele said in a national address...
Chainbytes Bringing Bitcoin ATMs to El Salvador, Launching Manufacturing Hub
24.6.2021
Bitcoin ATM provider Chainbytes is setting up a bitcoin ATM manufacturing hub in El Salvador. The move follows the country passing a bill making bitcoin legal tender. The company plans to make El Salvador “the manufacturing hub of bitcoin ATMs for all of the Americas.” Bitcoin ATMs...
Rwanda Central Bank Joins CBDC Bandwagon After Announcing Digital Currency Research
23.6.2021
The National Bank of Rwanda (NBR) has become the latest African central bank to join the digital currency movement after an employee confirmed the institution is studying the possibilities of issuing its own digital currency. CBDC Implications on Financial Stability According to the employee, John...
Russian Billionaire Slams Central Bank’s Crypto Policy, Says Even El Salvador Realizes the Need for Bitcoin
21.6.2021
Russian billionaire Oleg Deripaska wants the Bank of Russia, the country’s central bank, to embrace cryptocurrency, citing El Salvador’s bitcoin law as an example. El Salvador recently passed a bill making bitcoin legal tender in the country. Billionaire Oleg Deripaska is the founder...
Paraguayan Lawmaker to Present Bitcoin Legislation Next Month — Aims to Make Paraguay Global Crypto Hub
20.6.2021
A pro-bitcoin congressman in Paraguay says he will present bitcoin legislation in congress next month with the aim to make Paraguay a hub for cryptocurrency investors worldwide. His efforts follow El Salvador passing a bill making bitcoin legal tender. Paraguay Wants to Be Global Hub for Crypto...
Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’
20.6.2021
The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think it’s a good idea for the Latin American country to use bitcoin as legal tender and says it could “completely...
3 reasons why Ethereum may underperform Bitcoin in the short-term
20.6.2021
Ether could take longer than 12 months to regain ground versus Bitcoin due to increased uncertainties surrounding the shift to ETH 2.0 and reservations from institutional investors
World Bank Refuses to Help El Salvador Make Bitcoin Legal Tender Citing Environmental and Transparency Issues
17.6.2021
The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender. The bank cited bitcoin’s “environmental and transparency shortcomings” as the reason. World Bank Won’t Help El Salvador With Bitcoin Law The World Bank said...
An asset for all classes: What to expect from Bitcoin as a legal tender
17.6.2021
New tech that reduces costs of international payments would “be a boon for poor countries that rely on remittances” — but will BTC as legal tender fix that?
Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender
17.6.2021
The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. “We’re very optimistic,” he said. Central American Bank for Economic Integration...