MLM Network Zone

Low energy costs, high inflation and restrictive capital controls have pushed residents of Argentina to mine bitcoin in their homes. bit.ly/3f7o14k http://dlvr.it/S0ncWB

BitMEX and the Human Rights Foundation have partnered to award Bitcoin Developer Calvin Kim $150,000 to further his work on Utreexo. bit.ly/3f7o14k http://dlvr.it/S0ncSl

Indian central bank, the Reserve Bank of India (RBI), has officially advised banks that its banking ban circular is no longer valid as it was set aside by the country’s supreme court more than one year ago. Despite the supreme court’s ruling, banks have been citing the RBI circular when dealing with cryptocurrency. RBI Tells Banks to Stop Quoting Its ‘No Longer Valid’ Circular on Cryptocurrency India’s central bank, the Reserve Bank of India (RBI), issued a notice on Monday clarifying its position regarding cryptocurrencies. The notice, entitled “Customer Due Diligence for transactions in Virtual Currencies (VC),” aims at “all commercial and co-operative banks, payments banks, small finance banks, NBFCs, and payment system providers.” The RBI wrote: It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular … dated April 06, 2018. The Apr...

Banks like HDFC and the State Bank of India reportedly cautioned customers against crypto, citing the RBI’s quashed crypto circular. from Cointelegraph.com News https://ift.tt/3i6cVQA via IFTTT

Those with skin in the game are reiterating that comparing Bitcoin to Ethereum is a pointless and potentially costly exercise. from Cointelegraph.com News https://ift.tt/3vGW3nI via IFTTT

The warning comes in response to Bybit’s marketing campaign that reportedly targeted Japanese investors. from Cointelegraph.com News https://ift.tt/3id0SRs via IFTTT

The Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation. Japan’s FSA Warns Bybit Fintech Limited Japan’s top regulator that handles banking, securities and exchange, and insurance sectors within the economy has recently issued a warning to Bybit Fintech Limited. Bybit is a crypto derivatives exchange that offers digital currency futures, perpetual swaps, and other types of contracts to crypto asset traders. The FSA’s warning claims that Bybit’s operators are allowing Japanese citizens to leverage the platform and notes that the exchange has not registered with the regulator. The news has been spreading like wildfire on social media and people discussed how Binance was warned about the same thing three years ago. In 2018, J...

AI and blockchain are rarely utilized together — but combining these technologies could unlock a plethora of use cases. from Cointelegraph.com News https://ift.tt/3uw9SE3 via IFTTT

Long-term Bitcoin holders remain unfazed by the recent sell-off, but there is still one alarming sign. from Cointelegraph.com News https://ift.tt/3uzPMZC via IFTTT

The Bitcoin.com team is excited to announce integration of Ethereum into the Bitcoin.com Wallet . That means anyone can now buy, receive, store, trade, and send ether ( ETH ) with the convenience and security of the industry’s most user-friendly, non-custodial wallet. How It Works When you open the Bitcoin.com Wallet , you’ll now see the Ethereum section in your home screen. Tapping the “ BUY ” button will prompt you to enter a purchase amount. If you’ve already set up your payment method, your purchase will go through instantly. It’s that easy! If you have other cryptocurrencies in your Wallet, you can now swap any amount for ETH – or vice versa. You can also send and receive ETH using the Bitcoin.com Wallet , just like you do with any other asset. You also have the option to import an existing Ethereum wallet. Just tap the “ ADD/IMPORT ” button on the home screen and scan the QR code or enter the 12-word secret phrase from your existing wallet. Your Digital Assets, i...

With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn More Brazilians to Cryptocurrency Mining The ongoing coronavirus pandemic has taken a heavy toll on Brazil and the country ranks among the hardest hit, with over 450,000 deaths due to Covid-19 . South America’s largest economy shrank by more than 4% in 2020 resulting in a record high unemployment for almost a decade – 14.3 million citizens are jobless, the national statistical office announced earlier this year. Low or no salaries, along with bleak economic perspectives, have pushed Brazilians to find new ways to make ends meet. According to a recent report by Portal do Bitcoin, a growing number of people in the country have been tur...

The Hashpalette token sale on Coincheck is set to become Japan’s maiden initial exchange offering event. from Cointelegraph.com News https://ift.tt/3g38sMa via IFTTT

Ripple’s legal battle with U.S. regulators continues. from Cointelegraph.com News https://ift.tt/3yQemIY via IFTTT

Chinese "crypto dad" and ex PBoC director Yao Qian insists digital yuan is not a surveillance tool for the government. from Cointelegraph.com News https://ift.tt/2RcBLn2 via IFTTT

The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to determine who’s going to take charge of crypto market oversight, the Korean Herald noted in an article published this weekend. The executive power in Seoul announced Friday that the task has been assigned to the Financial Supervisory Service ( FSS ), one of the country’s financial regulators. The agency will be monitoring closely the implementation of previously introduced regulatory measures, the newspaper elaborated. These include the Act on Reporting and Using Specified Financial Transaction Information. The latter imposes certain restrictions on cryptocurrency exchanges operating in South Korea. The ...

Cryptocurrency investors should be ready to lose all their holdings, according to Ireland’s central bank financial conduct director. from Cointelegraph.com News https://ift.tt/34x9Hh9 via IFTTT

Strong hands are hodling stronger than ever as May 2021 lines up to be the worst May ever for Bitcoin. from Cointelegraph.com News https://ift.tt/3yOqsSQ via IFTTT

The Central Bank Of Brazil, the highest monetary authority of the country, has released a note listing the general guidelines for the design of a hypothetical central bank digital currency (CBDC) for the country. While there are still no concrete steps taken in this direction, at least the document recognizes there have been discussions about this possibility in the institution. Central Bank of Brazil Issues General CBDC Guidelines The Central Bank of Brazil, the economic authority of the South American country, has released a document where it specifies the general guidelines of a future Brazilian central bank digital currency (CBDC). The note, titled “Banco Central do Brasil releases general guideline for a Brazilian CBDC,” details the characteristics and traits that a hypothetical CBDC emitted by the institution will have in the future. Among the characteristics detailed in the document, apart from mentioning its use as a money substitute, its compliance with AML and anti-terro...

Another day, another BSC DeFi protocol gets hacked. from Cointelegraph.com News https://ift.tt/3c4jNKH via IFTTT

Acting OCC head, Michael Hsu, wants greater inter-agency cooperation in establishing regulatory guidelines for the crypto sector. from Cointelegraph.com News https://ift.tt/3wGwR0D via IFTTT

Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region. Just recently, a Chinese state-backed online publication revealed that the Sichuan Energy Regulatory Office plans to hold a meeting on June 2, 2021, to discuss the implications of bitcoin mining. Sichuan Energy Regulatory Office to Meet on June 2 to Discuss Crypto Mining In recent times, the Chinese government has been discussing the crypto economy to a greater degree and much of the conversation has been directed at bitcoin mining. China’s officials hope to get the country carbon neutral by the year 2060 and capture a good percentage of carbon neutrality by 2030. Following a few meetings from the country’s Financial Stability Board and other Chinese politicians, a number of crypto firms stopped offering services to mainland citizens. Companies that started severing ...

Threats from China’s central government appear to have done little to quash local demand for crypto assets. from Cointelegraph.com News https://ift.tt/34uWaGX via IFTTT

Police from the UK executed a raid in an industrial unit in the West Midlands county expecting to find a cannabis farm, but instead found a big bitcoin mining facility, that was coincidentally bypassing the controls from the local power utility company to siphon energy from the main grid, stealing thousands of pounds in the process. UK Police Raid Alleged Cannabis Farm, Stumbles Upon Bitcoin Mining Facility The West Midlands Police Department got a real surprise last week when they raided an alleged cannabis farm in an industrial premise, just to find the facility was used to operate a Bitcoin mine. According to reports from intelligence, all of the signs suggested the site was used as a cannabis-growing farm. The West Midlands police department stated in its report that: We heard how lots of people were visiting the unit at different times of day, lots of wiring and ventilation ducts were visible, and a police drone picked up a considerable heat source from above. They are all c...

A Chinese economist and assistant director at the International Monetary Institute of Renmin University, Qu Qiang, has predicted that “We’re all going to die” if bitcoin becomes widely adopted as a currency. He foresees our society falling into “a death spiral of deflation,” noting that “the whole society is going to shrink and self-explode.” We’re All Going to Die if Bitcoin Is Widely Adopted, Predicts Chinese Economist An assistant director at the International Monetary Institute of Renmin University, Qu Qiang, was interviewed on CGTN about bitcoin. CGTN is owned by the Chinese state media China Central Television (CCTV). The video of his interview was shared on Twitter Thursday by Hailey Lennon, who said she walked into her hotel room and it was playing on TV. Qu was asked: “Can you give me the worst scenario, what kind of a systemic shock it will give to the current financial system if bitcoin is widely used in China or the rest of the world?” He replied: I can tell you exac...

Financial guru Dave Ramsey has given advice on whether one should invest in cryptocurrencies, like bitcoin. Ramsey sees cryptocurrency as a get-rich-quick scheme, preferring to make his money in a “methodical” and “boring” way. Dave Ramsey’s Advice on Investing in Bitcoin and Other Cryptocurrencies Dave Ramsey has given advice on cryptocurrency investing. Michael from Dayton, Ohio, called into The Ramsey Show saying that he had been looking into cryptocurrency and asked whether he should be investing in it. The episode, entitled “Should I Invest in Cryptocurrency?” was aired on May 20. Michael is 24 years old and has saved up $3,800 from working his job. He told Ramsey: “I just want to know what are the best investments to really look at and where to go about it.” The self-proclaimed personal money management expert, Ramsey calls himself “America’s trusted voice on money.” He is the author of seven best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, Ent...

Major British bank Natwest has launched an alert to urgently warn its customers of cryptocurrency scams, which have been on the rise. The bank has provided several tips for customers “thinking of investing in bitcoin or other cryptocurrencies” on how to spot scams involving cryptocurrencies. “If you ignore the above advice, you could lose all of your money,” the bank cautioned. Natwest’s Advice on How to Spot Crypto Scams National Westminster Bank (Natwest), a major retail and commercial bank in the U.K., has launched an urgent cryptocurrency scam alert on its mobile app. The alert urges customers to beware of scams involving cryptocurrencies following a record number of reports in the first quarter. Natwest explained that a common scam people fall victim to involves fake celebrity endorsement, such as The Virgin Group founder Sir Richard Branson . Natwest’s head of fraud prevention, Jason Costain, was quoted by the media as saying: We have prevented millions of pounds from being...

Traders are using a variety of strategies to determine whether Bitcoin price has bottomed, but on-chain activity and derivatives data hint that the situation remains precarious. from Cointelegraph.com News https://ift.tt/3p2O1mk via IFTTT

The infamous Joseph Maldonado, aka “Joe Exotic,” from the docuseries “Tiger King: Murder, Mayhem and Madness,” has launched his own Ethereum-based token. According to the website tiger-king.org, the project will also feature non-fungible tokens (NFTs) and the proceeds from NFT sales will go toward helping Joe Exotic’s legal defense team and tiger rescue funding. ‘Tiger King’ Joe Exotic Launches an ERC20 Token The costar of the docuseries “Tiger King” has announced the launch of a new crypto asset called “TKING,” according to the reality series star’s official Twitter account. Bitcoin.com News reported on the popular docuseries last year when it was discovered that Joe Exotic’s costar Carole Baskin accepted bitcoin donations for Big Cat Rescue . Now Exotic “is back,” according to the website tiger-king.org and whoever developed an ERC20 token for him has minted a trillion TKING tokens. “The legend of Joe Exotic has launched on the Ethereum blockchain! The man the world learned to...

MATIC, EOS, XMR and AAVE could rally higher over the coming days if Bitcoin price can sustain within the $30,000 to $33,000 support zone. from Cointelegraph.com News https://ift.tt/3uB6BDe via IFTTT

While a number of media pundits and politicians have been talking about Bitcoin’s energy consumption, there’s been a myriad of firms working toward green solutions well before all the controversy. Unfortunately, critics don’t highlight the amount of renewables miners use or the cogeneration applications. One project called EZ Blockchain has partnered with the Texas-based oil and gas service provider, Silver Energy to monetize wasted natural gas with bitcoin, while reducing emissions. Monetizing Stranded Gas and Reducing Emissions With Bitcoin A firm called EZ Blockchain recently detailed that the company has partnered with Silver Energy, an oil and gas provider based in Texas. According to the firm, the team installed Silver Energy’s first mining site at the company’s Alberta, Canada location in February 2021. After the installation of Microbt Whatsminers, EZ Blockchain said that the project reached around 1 megawatt of power consumption. All of the power is “processed from 250 MC...

Fears of a nasty pre-Memorial Day selloff in cryptocurrencies may have been overstated, early indicators suggest. from Cointelegraph.com News https://ift.tt/3uu3pte via IFTTT

Here’s what crypto and blockchain industry experts think about Elon Musk’s recent comments on cryptocurrency. from Cointelegraph.com News https://ift.tt/3fSADxe via IFTTT

U.S. Senator Rick Scott has urged Treasury Secretary Janet Yellen to take action on cryptocurrency scams, which he said have risen 1,000% in the past year and cost consumers at least $80 million. “This is an unregulated industry, and the alarming amount of criminal activity surrounding cryptocurrency demands action,” he told Yellen. Senator Scott Alerts Janet Yellen to Cryptocurrency Scams Senator Rick Scott wrote a letter to Treasury Secretary Jenet Yellen on Thursday raising concerns regarding the rising number of scams involving cryptocurrencies. The senator wrote: I write today with concern about the risks taken by ordinary investors and the significant potential for scams related to cryptocurrency. He explained that “Cryptocurrency values have fallen drastically over the last few weeks, while reports of scams and fraud have skyrocketed.” Senator Scott cited research by the Federal Trade Commission (FTC) stating that cryptocurrency scams have risen 1,000% in the past year a...

Another hurdle financial services and institutions need to address is mainstream digital asset adoption. from Cointelegraph.com News https://ift.tt/2SAnKQh via IFTTT

Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face hefty fines. Deadline for Tax Filing in Brazil Expires Midnight May 31 Brazilian citizens are required to file their 2021 income tax returns before June 1. This year, the deadline was extended by a month due to the coronavirus pandemic which took a heavy toll on South America’s largest economy. Failure to report revenues and tax obligations will result in fines starting at around $30 and going up to 20% on the tax due, Portal do Bitcoin warned readers recently. Taxpayers who kept over 5,000 reals worth of coins in their wallets, or $960 at the current exchange rate, must report the crypto holdings to Receita Federal , the country’s internal revenue service. This year, the tax age...