Currency

Future of Digital Euro ‘Not Clear Yet,’ Former Eurogroup Official Says

<div class=”featured_image_container”> </div> <strong>Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken as a benchmark. </strong> Digital Euro to …

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Ukraine’s ‘Largest Illegal’ Mining Facility May Have Been a FIFA Bot Farm

<div class=”featured_image_container”> </div> <strong>A data center busted by Ukrainian law enforcement this month for suspected electricity theft may have had a purpose different from mining cryptocurrencies. Ukraine’s security service described the facility as the “largest underground crypto farm” found to date but media reports are challenging that assertion. </strong> Ukrainian Company Files Complaints Against SBU …

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Bitcoin now legal tender in El Salvador, first nation to adopt cryptocurrency

Enlarge / El Salvador now says both US dollars and bitcoin are legal tender. Thomas Trutschel / Getty Images News On Wednesday, El Salvador’s president signed into law a proposal to adopt bitcoin as legal tender, making the Central American nation the first in the world to officially use the cryptocurrency. The new law says …

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ECB: Digital Euro to Boost Global Appeal of European Money, Fight ‘Artificial Currencies’

<div class=”featured_image_container”> </div> <strong>The digitization of traditional currencies like the euro has the potential to increase their international appeal, the European Central Bank says in a new report. A failure to offer a digital currency would endanger financial stability, ECB warns. The regulator is concerned about the prospect of tech giants dominating payments through their …

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‘Bitcoin Is the Biggest Jailbreak in Human History,’ Says Philosopher Stefan Molyneux

<div class=”featured_image_container”> </div> <strong>On February 19, the Canadian podcaster and Freedomain Radio host, Stefan Molyneux, discussed his thoughts about bitcoin following the crypto asset’s tumultuous rise capturing over a trillion-dollar market valuation. Molyneux’s recent speech describes the liberating potential bitcoin could bring to the masses and how the crypto network has the ability to change …

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IMF Says Only 23% of Central Banks Can Legally Issue Digital Currencies

<div class=”featured_image_container”> </div> <strong>Researchers at the International Monetary Fund (IMF) have examined the central bank laws of 174 IMF members to answer the question of whether a digital currency is really money. They found that of all the central banks studied, only about 23%, or 40 central banks, “are legally allowed to issue digital currencies.”</strong> …

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You can now spend China’s digital currency at an online store

Kevin Frayer/Getty Images China’s official digital currency is now usable in a meaningful way… more or less. Reuters reports that JD.com now accepts digital yuan for some purchases at its site, making it the first online platform to take the virtual money. You’ll need to have received the currency as part of a lottery-style experimental …

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Understanding the Coming Currency Cold War

Will the future of currency be led by the U.S., China, Bitcoin, or some combination we can barely imagine today? In it, Wilsner talks to experts about four scenarios: A multi-currency scenario, where exchange is abstracted away via digital wallets A China-led scenario A U.S.-led scenario A bitcoin/non-state currency-led scenario In addition to reading, NLW …

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Report: Bitcoin Untied from the Economic Cycle, ‘Largely Uncorrelated to Other Asset Classes’

On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is “largely uncorrelated to other asset classes” like commodities and traditional stocks. Coinshares Investment strategist James Butterfill published a new report on August 18 that shows bitcoin (BTC) is establishing itself as an investment store of …

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