Tag: Cash

Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report

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Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes. The average Malaysian household spends $1,900 per month Abdul Rasheed, the deputy governor in question who works for Bank Negara Malaysia (BNM), claimed that the measures will apply to all transactions involving physical cash, including payments for goods and services,…

Bahamas to Release Fiat Digital Currency to Counter Cash Dependence

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The Central Bank of the Bahamas (CBOB) is planning to release its own fiat digital currency in order to ensure economies’ resilience in the event of a natural disaster. CBOB governor John Rolle made the statement during his speech at the Counsellors Limited’s Exuma Business Outlook at Sandals Emerald Bay, local news publication the Nassau Guardian reported on Oct. 25. According to Rolle, digital currency has the ability to free the country from dependency on cash — particularly useful after a natural disaster. The Project Sand Dollar The digital currency…

Bitcoin Cash Learns Block Size Economics, Ver Says BCH Not Restricted

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Those who have followed the Bitcoin saga from the very beginning know that it’s a mistake in 2019 to only pay attention to the so-called “grandfather cryptocurrency,” as that would mean ignoring Bitcoin’s many relatives (and competitors) that share the same DNA. Bitcoin Cash (BCH), when it comes down to brass tacks, is similar to Bitcoin in most ways, but with one large distinction — it’s bigger block size of 32 megabytes. This is a result of BCH innovator Roger Ver’s idea that scaling should be possible on-chain, without third-party accelerators like the…

Warren Buffett has Enough Spare Cash to Buy Two-Thirds of All Existing Bitcoin – CCN.com

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Warren Buffett isn’t much of a bitcoin fan. He’s called it rat poison squared, a gambling device, delusional, and a seashell with no inherent value. But, if he wanted to, he could become the biggest bitcoin whale of them all. Buffett could buy two-thirds of the existing BTC supply… in cash. Warren Buffett’s investment firm Berkshire Hathaway reported a record $122 billion cash pile in a recent filing. That’s about two-thirds of bitcoin’s current market capitalization of $177.6 billion. Sidenote: obviously, this isn’t actually possible. Only a small portion of…

Square’s Cash App Is Testing a Stock Trading Feature

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Square’s cryptocurrency-friendly payment app Cash App is reportedly testing a new feature allowing customers to buy and sell stocks. Expanding Cash App Citing a source familiar with the matter, Bloomberg reported on Sept. 12 that the San Francisco-based startup’s employees began testing the new feature in recent weeks. Once released, it will allow Cash App users to make free stock trades. Square has reportedly not yet determined the exact date of the new option launch. Cash App and crypto Square made Bitcoin (BTC) deposits available on Cash App in late…

$800 Bitcoin Buys $10,000 Cash on Dark Web, Turn-Key Money Laundering

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Security researchers have identified a new trend of lucrative and illicit Bitcoin (BTC) to cash conversions in their analysis of dozens of dark web marketplaces and forums. Financial scammers are selling cold, hard cash for only 10 to 12 cents on the dollar to buyers willing to provide a prepaid fee in Bitcoin, according to the new Q3 2019 Black Market Report from Armor’s Threat Resistance Unit. Dodging risks The cash-to-Bitcoin money laundering scheme works as follows: cybercriminals offer up bundles of cash — typically from $2,500 to $10,000 —…

7,000+ Sign Petition Against Drafted Cash Restrictions in Australia

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More than 7,000 people have signed a new petition against drafted cash restrictions in Australia, different drafts of which include and exclude digital currencies from proposed limits. Earlier this week, Robert Barwick, director at the Citizens Electoral Council of Australia, initiated a petition against the proposed “Currency (Restrictions on the Use of Cash) Bill 2019” recently introduced as an explanatory draft by Australia’s parliament. The drafted bill specifically proposes banning cash transactions over 10,000 AUD ($6,900), including transactions involving digital currencies. Preventing cash usage in illicit activities? The impetus for…

Bitcoin Twitter Handle With 1 Million Followers Renounces Bitcoin Cash

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Bitcoin’s (BTC) best-known names are currently playing a guessing game after one of the industry’s most controversial Twitter accounts changed its views overnight. @Bitcoin switches from Bitcoin.com to Bitcoin.org Multiple users, including Reddit’s r/Bitcoin Subreddit moderator, BashCo, are supplying theories to explain the behaviour of the @Bitcoin account.  @Bitcoin has almost one million followers, yet its name has formed a misnomer for years. Instead of promoting Bitcoin, the account has long maligned it in favor of altcoin Bitcoin Cash (BCH) after allegedly falling into the hands of major proponent, Roger…

US Unveils FedNow, Bitcoin Cash Vs. Coinbase

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In the latest episode of “Coffee and Crypto,” Cointelegraph’s head of editorial Olivia Capozzalo and head of news Molly Jane Zuckerman have discussed the biggest headlines in the crypto world — armed with steaming cappuccinos. The cappucci-news In the video, Capozzalo and Zuckerman have a packed agenda. First, they make sense of the news that the United States Federal Reserve has started developing a 24/7 system for real-time payments — sparking endless questions and comparisons to Bitcoin (BTC) and Ripple’s XRP. Zuckerman says: “I hear the words ‘real-time payment and…

Coinbase Must Face Negligence Suit Over Bitcoin Cash Launch, Judge Rules

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Coinbase must face a negligence lawsuit from customers who bought bitcoin cash (BCH) following its allegedly botched listing on the exchange during the 2017 bull market, a judge has ruled. U.S. District Judge Vince Chhabaria of the Northern District of California dismissed the plaintiffs’ fraud and unfair competition claims against Coinbase, and the negligence claims brought by the ones who sold BCH. But he denied Coinbase’s motions to move the case to arbitration and to dismiss the buyers’ negligence claims, saying it is “plausible” that the company “breached its duty to maintain a functional…