Search here...
Home Blog Page 22

Serbian Prince Philip: Bitcoin Is Freedom, ‘We Need to Take the Money Away From the State’

By
coinfeeds
-
0

Bitcoin is freedom, according to Prince Philip of Serbia and Yugoslavia. The prince emphasized that “we need to take the money away from the state” and that “hard money is needed again.” We require high-quality, inflation-proof money.”

On a Serbian TV show hosted by Ivan Ivanovi, Prince Philip of Serbia and Yugoslavia recently discussed bitcoin. Prince Philip, a member of the House of Karaorevi, is the second son of the former Kingdom of Yugoslavia’s last crown prince. He is Prince Alexander’s fraternal twin and the second-in-line to the throne after Prince Peter.

According to the Royal Family of Serbia’s website, Prince Philip is currently working with a global asset manager in London.

“I work in finance,” he confirmed on the TV show. “I work in asset management for an international finance company. The head office is in New York but has a big office in London. I’m an analyst. I love to analyze the world.”

He added: “I analyze and mainly tell clients what happens with the market, what’s going on with their portfolios, and I speak with a lot of other analysts and a lot of other portfolio managers within the company. We help to make decisions … It’s a great experience to be an analyst. I learn a lot.”

He was then asked about crypto. Emphasizing that his advice “is definitely for free,” he began by saying “crypto” but quickly corrected himself to say “bitcoin.” Prince Philip said: “Not crypto but bitcoin. It’s only about bitcoin.” He continued:

Bitcoin is freedom, and this is something I want for everyone.

He described: “This is something everyone has to learn. They will learn slowly. Some people will not want to learn it because they are not used to it. They want to protect the system that they do well in.”

The prince noted: “But they don’t realize that that system, well maybe they do, is not advantageous to everyone else in the world, so billions of people around the world are not having a good time right now.”

The prince was interrupted by Ivanović after he said, “Well we need to take the money away from the state.” The TV host cautioned that the royalty’s statement could be misinterpreted. Both laughed.

Prince Philip proceeded to emphasize:

I think we need to have hard money again. We need to have good quality money that’s not subject to inflation.

Referring to inflation, he said the problem is happening now and “Especially since that last financial crisis in 2008 which extraordinary stimulus has been pumped into the economies.” He detailed: “And since then with the Corona pandemic, unprecedented amounts of stimulus have been pumped into the economy and, of course, where is this money going to go? It’s going to create inflation.”

Prince Philip proceeded to talk about bitcoin. “With Bitcoin, you don’t have that. You have a cap of only 21 million bitcoins that are going to be produced,” he described, adding:

Therefore it’s never going to be an inflationary asset and this helps to protect people.

“On top of that, it’s censorship-free. It’s very fungible. You can move it around … and it will help with people’s sovereignty, and it helps with people’s freedom,” the prince concluded.

Metametaverse receives $2 million in funding with the goal of achieving metaverse interoperability.

By
coinfeeds
-
0

Metametaverse, a company dedicated to the integration and interoperability of various metaverses, has already received $2 million in funding for this project. This task, according to Joel Dietz, the initiative’s founder and creator of the wildly popular wallet Metamask, could be accomplished by creating a common pool of assets and experiences on a Level 1 blockchain like Ethereum or Bitcoin.

The idea of the Metaverse linked to digital experiences and token economies is relatively new, and just now hundreds of companies are building their own version of the metaverse. Be it a work-related environment, or a gaming-focused world, all of these metaverses have their place as an application of the technology.

Metametaverse, a company founded by Joel Dietz, one of the founding architects of Metamask, wants to provide a tool to make all these metaverses interoperable and available for users to enjoy. For this task, Metametaverse proposes a Layer 1 blockchain in the same fashion as Ethereum or Bitcoin, but with a different purpose, which is to serve as a metadata pool to connect different experiences in the metaverse.

The company already has 25 people working towards this task, and its scope includes a language to create metaverses and communicates with them even while residing in other blockchains, which would make it blockchain agnostic. In an interview with Venturebeat, Dietz explained what this task would be like.

reinventing the internet’s Domain Name System (DNS), which is the addressing system for finding things on the internet. But this would be a coordinate system for complex 3D objects that live in a 3D space.

Resources and the Future

This idea of interconnected metaverses has managed to get traction from investors, that have put funds behind the prospect of Metametaverse. The company raised $2 million from several investors in December, being backed by DAO Maker, Ghaf Capital, Decasonic, Metaverse Group, and others.

Dietz believes the concept of the metaverse will keep growing and surpass cryptocurrency in size and importance in the coming years. Some organizations like Grayscale also seem to point in this direction, estimating that the metaverse will be a trillion-dollar revenue opportunity. Dietz stated that his initiative might have a role in this profiled future.

In 30 years every building in every city will be designed and sold in the metaverse. We are building the protocol that will allow the higher-end assets and clear business use cases to be supported.

In sanctioned Russia, the idea of using the digital ruble as a reserve currency has circulated.

By
coinfeeds
-
0

The State Duma, Russia’s lower house of parliament, has proposed making the digital ruble a reserve currency. Meanwhile, fears have been expressed in the West that the new incarnation of the Russian fiat could be used to circumvent the country’s isolation due to sanctions.

In the face of mounting Western penalties, officials in Moscow have been mulling over ways to circumvent restrictions that have already limited Russia’s access to its foreign reserves and the global financial market.

Sergei Mironov, who leads the opposition ‘A Just Russia’ faction in the Duma, urged the federal government, the central bank, and the operational headquarters for countering sanctions to introduce the digital ruble, Russian media, and Forklog reported.

The high-ranking parliamentarian has been quoted as saying that the goal of the initiative is to issue the central bank digital currency (CBDC) for specific purposes like financing of housing and other construction projects, as well as the development of production and transportation infrastructure.

“The digital ruble should become a full-fledged investment and reserve currency for Russia,” Mironov elaborated. The deputy believes the CBDC will provide the Russian economy with needed funding without boosting inflation. The digital rubles cannot be deposited abroad or used for non-intended purposes, he added.

Western allies fear Russia may use cryptocurrencies, including the digital version of the ruble, to evade sanctions imposed over its invasion of Ukraine and have taken steps to close the loopholes. Recent statements by another lawmaker, and member of the crypto regulatory working group, Alexander Yakubovsky, indicate that Russia is interested in using digital currencies to restore its access to global finance.

The Central Bank of Russia (CBR), a strong opponent of legalizing cryptocurrencies, has been actively developing the digital ruble project. The monetary authority began contemplating a CBDC three years ago. A consultation paper was published in October 2020 and in April 2021, the bank released a digital ruble concept outlining its principal architecture.

Testing of the digital ruble platform began this year with the CBR announcing the first complete transactions between individual wallets in mid-February. A dozen Russian banks will participate in the trials expected to continue throughout 2022. Bank of Russia insists its digital currency will create new opportunities for Russian citizens, businesses, and the state.

The Russian Federation has also been trying to limit its dependence on the U.S. dollar. Last October, the Ministry of Foreign Affairs hinted that it’s possible to partially replace the greenback in Russia’s currency reserves and trade settlements with other currencies and even digital assets in the future.

Eight US lawmakers demand that the SEC stop crippling cryptocurrency and stifling innovation.

By
coinfeeds
-
0
Photo Credit: Getty Image / istockphotos

Eight US lawmakers have written to the chairman of the Securities and Exchange Commission (SEC) to express their concerns about how the agency collects data from cryptocurrency companies. The SEC’s “requests” for information, according to the crypto community, are “overburdensome, don’t feel particularly voluntary, and are suffocating innovation.”

U.S. Representatives Tom Emmer, Darren Soto, Warren Davidson, Jake Auchincloss, Byron Donalds, Josh Gottheimer, Ted Budd, and Ritchie Torres have jointly sent a bipartisan letter to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, regarding how the SEC obtains information from cryptocurrency and blockchain companies.

Congressman Emmer explained in a tweet the reason behind the letter:

My office has received numerous tips from crypto and blockchain firms that SEC Chair Gary Gensler’s information reporting ‘requests’ to the crypto community are overburdensome, don’t feel particularly …voluntary … and are stifling innovation.

Rep. Warren Davidson tweeted: “We must promote American innovation rather than stifle it with an incoherent mix of bad regulation, selective enforcement, and ongoing inaction.” He added:

I joined Rep. Tom Emmer and colleagues sending a letter to SEC Chair Gary Gensler regarding the SEC crippling crypto in America.

In their letter to Gensler, the lawmakers pointed out: “It appears there has been a recent trend towards employing the Enforcement Division’s investigative functions to gather information from unregulated cryptocurrency and blockchain industry participants in a manner inconsistent with the Commission’s standards for initiating investigations.”

The lawmakers stressed:

We have reason to believe that these requests might be at odds with the Paperwork Reduction Act (PRA).

The letter explains that pursuant to this act, “in seeking information from the American public, federal agencies must be good stewards of the public’s time, and not overwhelm them with unnecessary or duplicative requests for information.”

Congressman Emmer emphasized:

Crypto startups must not be weighed down by extra-jurisdictional and burdensome reporting requirements. We will ensure our regulators do not kill American innovation and opportunities.

According to EU regulators, cryptocurrency is unsuitable as an investment or a means of payment for most retail consumers.

By
coinfeeds
-
0
Photo Credit: Bloomberg

On Thursday, three European Supervisory Authorities (ESAs) released a joint statement warning about the dangers of crypto assets.

“Warn consumers that many crypto assets are highly risky and speculative,” say the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA). In addition, “key steps consumers can take to ensure they make informed decisions” are outlined in their statement.

The warning came as a result of “increasing consumer activity and interest in crypto assets, as well as aggressive public promotion of those assets and related products, including through social media,” according to the regulators.

The supervisory authorities stated:

These assets are not suited for most retail consumers as an investment or as a means of payment or exchange.

They noted that consumers “face the very real possibility of losing all their invested money if they buy these assets.”

Furthermore, the ESAs cautioned that consumers “should be alert to the risks of misleading advertisements, including via social media and influencers” and “should be particularly wary of promised fast or high returns, especially those that look too good to be true.”

Consumers should also be aware of “the lack of recourse or protection available to them, as crypto-assets and related products and services typically fall outside existing protection under current EU financial services rules,” the ESAs’ statement describes.

The EBA noted that the European Commission’s proposal for Markets in Crypto Assets (MiCA) remains subject to the outcome of the co-legislative process and so consumers do not currently benefit from any of the safeguards outlined in that proposal because it is not yet EU law.

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) voted against an amendment to ban proof-of-work assets for EU companies earlier this week.

Stolen Bitcoin is returned to the victim of a government imposter scam by the US Justice Department.

By
coinfeeds
-
0

The United States Justice Department has seized bitcoin that was stolen from an elderly man in a government imposter scam and will return it to him. The victim was duped into believing his personal information was being used to facilitate a drug trafficking and money laundering scheme, according to the DOJ.

The U.S. Department of Justice (DOJ) announced Tuesday “the successful forfeiture and return of stolen cryptocurrency to [an] elderly man victimized by government imposter scam.”

The DOJ explained that in August last year, fraudsters contacted the victim by phone claiming to be with the Office of the Inspector General, adding:

The fraudsters deceived the victim into believing his personal information had been used to facilitate a drug trafficking and money laundering scheme, and as a result all of the victim’s assets would be frozen.

“One of the imposters, who identified himself as agent James Hoffman, told the victim that he was required to deposit funds into a secure government account until the government verified that the victim was not involved in criminal activity,” said the Justice Department.

The scammers further demanded all of the victim’s personal identifying information and details regarding his financial accounts, the DOJ noted.

They proceeded to direct the victim to “use hundreds of thousands of dollars of his retirement funds” to purchase bitcoin through cryptocurrency exchange Coinbase.

According to the DOJ:

On August 31, 2021, 12.164699 bitcoin, worth approximately $574,766, was transferred from the victim’s Coinbase account to the account controlled by the imposters.

The Federal Bureau of Investigation (FBI) and Coinbase ultimately identified the transfer as possible elder financial fraud. “Following an investigation and successful civil forfeiture proceedings, the seized cryptocurrency was forfeited to the United States and will be returned to the victim,” the Justice Department confirmed.

Ukraine’s President Zelenskyy Signs Virtual Assets Bill Into Law, Legalizing Crypto

By
coinfeeds
-
0
Photo credit: Getty Images

Ukrainian President Volodymyr Zelenskyy legalized crypto in the country, signing into law a bill on virtual assets, amid a frenzy of digital asset donations to support the country’s defense against a Russian invasion.

  • The law determines the legal status, classification, ownership, and regulators of virtual assets, as well as sets registration requirements for crypto service providers, the Ministry of Digital Transformation said in a statement Wednesday.
  • The market will be regulated by Ukraine’s National Commission on Securities and the Stock Market. The digital ministry said in a tweet that exchanges will be able to operate legally, and banks will open accounts for them.
  • The state body is tasked with “shaping and pursuing a policy in the field of virtual assets; determining the order of circulation of virtual assets; issuing permits to virtual asset service providers; and carrying out supervision and financial monitoring in this area,” according to a Feb. 17 government announcement.
  • Ukraine has received at least $100 million in crypto donations over the past three weeks from people who want to support its defense and help fund humanitarian efforts.
  • The bill passed through parliament on Feb. 17 after Zelensky rejected an earlier version approved in September 2021.
  • The Ministry of Finance is working on amendments to the country’s tax and civil codes to fully launch the market for virtual assets, the statement said.

Binance is considering buying a Brazilian securities brokerage firm.

By
coinfeeds
-
0
(Photo Illustration by Avishek Das via Getty Images)

Binance, a leading cryptocurrency exchange, has stated its intention to expand its operations to Brazil. The firm announced that it has signed a memorandum of understanding to acquire a regulated securities brokerage firm in Brazil. The company, Sim;paul Investimentos, is said to be fully compliant with Brazilian laws and offers a variety of investment options to its customers, including various funds and stocks.

Binance is setting its sights on Latam, specifically Brazil, as the company is making moves to establish a more significant foothold in the country. The exchange announced it has inked a memorandum of understanding with a Brazilian brokerage firm called Sim;paul Investimentos, with the intention of acquiring the company after having cleared the requirements and receiving approval from regulators, including the Bank of Brazil.

Binance’s move, according to the press release issued, has the goal of developing the cryptocurrency and the blockchain ecosystem in Brazil. On this future purchase, Changpeng Zhao, CEO of Binance, stated:

In a fast-developing market like Brazil, crypto can transform and facilitate people’s lives and as such we believe – in full collaboration with local authorities – that Binance has a lot to contribute in developing the community and ecosystem in Brazil.

Sim;paul Investimentos aimed to increase the value of its investments last year, backed by the support of wealth managers and partnerships. However, the company sold its customer portfolio to Guide Investimentos in January. In the same month, Sim;paul Investimentos also got rid of its technology team, selling it to Warren, another brokerage firm in the country.

Expansion Policy

This latest move echoes the expansion policy Binance announced earlier this month. In an interview with Financial Times, Zhao explained that the strategy the company will follow to keep growing its business in the future includes investments in traditional markets and sectors. Zhao declared:

We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto.

Binance’s investments also include sectors such as publishing and media. On February 10, the exchange revealed an investment of $200 million in Forbes, the global media company, with the intention of bolstering the digital offers of the company, as part of its Web3 strategy.

Mayors who are pro-Bitcoin see blockchain as a way to increase equality and diversity.

By
coinfeeds
-
0

Bitcoin-friendly mayors Francis Suarez of Miami and Eric Adams of New York City view blockchain technology as a way to increase equality and diversity in their respective cities, and also to disrupt authoritarian regimes.

At a panel discussion at fintech investment firm Inveniam’s Web 3-focused conference on Wednesday, Suarez said: “We have a generational opportunity to outmaneuver countries such as China, Russia, and other parts of the world that try to steal our technology.” He added that states that “ban technologies they cannot control commit a mistake,” and that the U.S. has to be ready to seize the opportunity to become a leader.

The event in Miami took place as that city and New York City race to become a hub for the fast-growing digital asset industry and attract blockchain businesses with high-paying jobs.

Adams stressed that blockchain technology can help combat income inequality and serve as a tool for giving incentives to residents. He said governments can use blockchain technology to send food stamps directly to digital wallets, put public records on the blockchain, or give out a dollar-to-dollar reimbursement for such products as healthy baby food.

He also said that he is “going to build a blockchain and crypto educational platform” for young people and will “give them cryptocurrency” to learn about the technology.

Earlier in his keynote speech, Suarez said Miami’s local government created “a back-office concierge service to help companies with onboarding and relocating” in the city.

Both mayors are known for their crypto-friendly agenda and public announcements to take their salaries in bitcoin. Adams, who was sworn in last Dec. 31, promised to convert his first three paychecks into the largest cryptocurrency by market capitalization. Suarez reiterated that he took all his pay in bitcoin starting in December.

Crypto has assumed a new focus in politics in recent weeks as the U.S. and ally countries attempt to isolate Russia from the global financial system with sanctions for invading Ukraine. The U.S. has been monitoring whether Russia has been using crypto to evade sanctions, and it has been pressuring crypto companies to join those from other industries in halting services for Russian nationals.

While China banned all cryptocurrency transactions in 2021 besides its central bank-issued digital currency, the U.S. government plans to create a regulatory framework for digital assets.

Bahrain’s Central Bank has granted Binance a Crypto Asset Service Provider License.

By
coinfeeds
-
0
Photo Credit: Getty Images/iStockphoto

The Central Bank of Bahrain has awarded crypto exchange Binance a license that allows it to operate in the country, providing services including crypto trading, custody, and portfolio management services to Bahraini customers.

  • The license is Binance’s first in the Middle East/North Africa (MENA) region.
  • “The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world,” Changpeng Zhao, founder and CEO of Binance, wrote in a press announcement.
  • Binance was granted preliminary approval for the license in December, but was required to complete the full application process before being awarded the full license.
  • In 2021, Binance came under fire from regulators in a number of countries, including the United Kingdom and Japan.
  • The oil-rich Kingdom of Bahrain, however, seems to regards Binance in a more positive light and sees the license as a step in the right direction for its nascent crypto industry.
  • Khalid Humaidan, CEO of the Bahrain Economic Development Board, wrote: “Team Bahrain has built a world-class infrastructure to support the fast-growing blockchain and crypto industry, with robust regulations. … Collaboration with industry leaders such as Binance will further enhance our mission to establish the Kingdom of Bahrain as a leading business hub.”
1...212223...107Page 22 of 107

Follow us

Each template in our ever growing studio library can be added and moved around within any page effortlessly with one click.

Company

Latest news

Cyprus registers Binance as a cryptocurrency service provider.

Europe 0
Binance, a cryptocurrency exchange, will be able to provide...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Cryptocurrency 0
Usdt, the largest dollar-pegged stablecoin on the market, was...

To solve the blockchain modularity issue, Celestia raises $55 million.

Blockchain 0
The project Celestia, which seeks to address the alleged...

Popular news

Cyprus registers Binance as a cryptocurrency service provider.

Europe 0
Binance, a cryptocurrency exchange, will be able to provide...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Cryptocurrency 0
Usdt, the largest dollar-pegged stablecoin on the market, was...

To solve the blockchain modularity issue, Celestia raises $55 million.

Blockchain 0
The project Celestia, which seeks to address the alleged...

© 2021 tagDiv. All Rights Reserved. Made with Newspaper Theme.