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Posts Tagged ‘Money’

Crypto is a ‘Poor Form of Money’ for Terrorists, Congressional Hearing Concludes

The U.S. Congress Subcommittee on Terrorism and Illicit Finance has discussed various methods of terrorism financing with cryptocurrency, according to an official press release on the U.S. House of Representatives Financial Services Committee September 7. In order to monitor threats and methods of terrorist financing, the hearing considered major means of transferring funds by terrorists,…

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Save Money. Buy Bitcoin: Walmart Introduces $1 Chocolate Cryptocurrency

While investors complain over suppression of Bitcoin prices in 2018, the largest cryptocurrency quietly debuted at US Walmart stores for just $1. Bang For Your Buck As multiple Reddit users revealed this week and last, outlets of the retail giant have become full of bitcoins for the “everyday low price” of a single dollar. These…

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21-Year-Old Trader Prosecuted Over Bitcoin Money Laundering

A 21-year-old bitcoin dealer from California is being prosecuted for allegedly committing numerous counts of illegal money transmission and money laundering. According to an announcement from the Department of Justice in the Southern District of California, Jacob Burrell Campos was ordered to be held without bail at a hearing on Friday in connection to the charges.…

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‘Money to Burn’: Why Do Companies Burn Their Tokens?

A token burn is the destruction of a certain amount of tokens (or coins) in order to reduce their number in circulation. This method is successfully applied by crypto projects, traditional businesses, and even global corporations (for their shares). This spring, for example, Apple launched a $100 billion share buyback plan (with subsequent burning) and…

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‘Rich Dad, Poor Dad’ Author Says Bitcoin Will Replace ‘Fake Money’

The author of the best-selling finance book “Rich Dad, Poor Dad”, Robert Kiyosaki, expressed his concerns about the US dollar and the fact that there’s nothing to back it up. He also holds that cryptocurrencies will eventually replace it. ‘Fake Money’ The finance book “Rich Dad, Poor Dad” went on to sell upwards of 32…

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Bitcoin Must Hit $213,000 to Replace US Money Supply

Zurich-based investment bank and financial services company Union Bank of Switzerland (UBS) has said that the Bitcoin (BTC) price must hit nearly $213,000 to replace U.S. money supply, Bloomberg reported August 2. According to Bloomberg, a new report by UBS suggests that BTC cannot currently be considered money or a viable asset as its versatility…

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Money or Assets? How World Governments Define Cryptocurrencies

Cryptocurrencies — what are they? Money? Commodities? Securities? Utility tokens? Or something else? Few national governments seem to be in any kind of agreement on this question, and for now, at least, their divisions have given such currencies as Bitcoin and Ethereum a floating, indeterminate status on the global stage. As a result, cryptocurrencies lack…

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Dutch Central Bank Does Not Consider Cryptocurrencies as ‘Real Money’

An executive at the Dutch Central Bank has said that while cryptocurrencies are not “real money,” the bank has no plans to ban them, local news outlet Dutch News reported August 3. The divisional director of the Dutch Central Bank, Petra Hielkema, told Dutch News that due to the volatility of cryptocurrencies and the possibility…

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