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Posts Tagged ‘Cryptocurrency’

Norwegian ‘City’ Replacing Fiat and Cash for Its Own Cryptocurrency

Liberstad, a libertarian city in southern Norway, has reportedly dumped fiat currencies and cash. In their place, it has instituted its own cryptocurrency — City Coin.  The not-so-cleverly-named cryptocurrency will replace all other forms of legal tender. A spokesman told Express.co.uk: City Coin is a secure and innovative cryptocurrency based on City Chain, a smart…

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Indonesia Passes Rules for Trading of Cryptocurrency Futures

An Indonesian financial watchdog has set out new regulations for the trading of crypto assets on futures exchanges in the country. The Commodity Futures Trading Regulatory Agency (Bappebti), an agency under Indonesia’s Ministry of Trade, announced the new rules Monday, stating that cryptocurrency futures exchanges must be registered and approved before operating. The agency has…

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Ripple CEO Says JPMorgan’s ‘Cryptocurrency’ Misses The Point

JPMorgan is already facing severe criticism from the cryptocurrency industry just a day after it announced it would launch its own token, ‘JPM Coin.’ Garlinghouse: JPM Coin ‘Misses The Point’ The plan, which would ostensibly make JPMorgan the first US bank to issue a token with a verifiable use case, surprised commentators when executives revealed…

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Coinsquare Acquires Decentralized Cryptocurrency Exchange StellarX

Canada-based cryptocurrency exchange Coinsquare has acquired decentralized exchange (DEX) StellarX. Announcing the news on Thursday, the firm said the purchase comes it acquired stellar wallet BlockEQ last December. That product will be rebranded to become the “anchor wallet” for the StellarX platform going forward. Coinsquare did not disclose the cost of the acquisition. StellarX is a…

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Cryptocurrency Doesn’t Yet Need to Be Legally Defined

The Ministry of Justice of Russia does not see the need to legally define the concept of cryptocurrency at this point, state-owned news agency TASS reported on Feb. 13. Alexander Konovalov, the Minister of Justice of Russia, reportedly claimed that it is too early to formalize crypto-related legislation to date. Konovalov based his remarks on…

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Iran’s ‘Cryptocurrency’ Has All the Traits of a Classic Sh*tcoin

Last month, Iran lifted its ban on Bitcoin to make way for its ‘crypto rial’. Now Iranian authorities have launched PayMon cryptocurrency supposedly backed by national gold reserves. Except, it’s not really cryptocurrency after all since there’s nothing peer-to-peer about it and you still need to trust an intermediary (i.e. the Iranian government). PayMon Has…

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JPMorgan Unveils First Bank-Backed ‘JPM Coin’ Cryptocurrency

International investment bank and notorious Bitcoin skeptic JPMorgan Chase will be the first US bank to issue its own cryptocurrency. JPMorgan: ‘Endless’ Use Cases For Cryptocurrency In a surprising move, Umar Farooq, head of JPMorgan’s blockchain operations, told CNBC trials of JPM Coin would start in the coming months and that three use cases had…

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New York Fed: Cryptocurrency Won’t Challenge Dollar in Near Or Mid-Term

Cryptocurrencies are “unlikely” to become an international monetary phenomenon in the coming years, the Federal Reserve Bank of New York has claimed. ‘Unlikely To Meet Criteria’ In a research piece on US dollar supremacy published February 11, the NY Fed argued that despite the appearance of cryptocurrency in mainstream society, only its long-term perspectives could…

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