Cryptocurrencies Are Not a Safe-Haven Asset, Says Expert

Cryptocurrencies have not been used as a safe haven amid challenges the global economy has faced at the beginning of the year, one expert says. The world has already seen a slew of market-shaking events this year including trade policy uncertainty, geopolitical tensions and the coronavirus epidemic, among others. With investors around the world struggling to find safe haven assets to insure themselves against potential crises, it was anticipated that many would turn to Bitcoin (BTC) and other digital currencies. Doubts of crypto’s capabilities However, some industry experts say that…

G20 Urges Countries to Adopt Tough FATF Rules on Cryptocurrencies

Finance ministers and central bankers from the G20 are pushing for wider adoption of standards that compel cryptocurrency exchanges to disclose user information. Following a summit in the Saudi-Arabian capital Riyadh over the weekend, representatives from G20 financial institutions pressed countries that have not done so already to align themselves with global cryptocurrency standards from the intergovernmental organization, the Financial Action Task Force (FATF). “We urge countries to implement the recently adopted Financial Action Task Force (FATF) standards on virtual assets and related providers,” reads a joint-communique published after the…

New Jersey Introduces Bill to Regulate Cryptocurrencies at State Level

The New Jersey state legislature is now considering a new bill that would require cryptocurrency businesses to obtain a proper license to operate. Assemblywoman Yvonne Lopez proposed the Digital Asset and Blockchain Technology Act on Feb. 20. The legislation would establish new requirements for virtual currency businesses and create consumer-friendly protections by requiring crypto firms to disclose their legally registered names, Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) policies, and their licensing and legal history to the State of New Jersey’s Department of Banking and Insurance.  Bitcoin regulation in the…

Here’s Why Interest Rates on Cryptocurrencies Could Be a Game-Changer

Lending and borrowing cryptocurrencies is becoming an increasingly important sub-sector of crypto finance, one that may end up shaping how the underlying assets themselves are valued and priced in the markets.  While still in its infancy, the growth of crypto lending platforms has given birth to a new type of measuring metric: interest rates, which has the potential to draw in new investors while encouraging the movement of crypto capital out of storage and into markets. In traditional financial markets, interest rates reveal significant information about the health of the…

Liquidity of Top Cryptocurrencies Is Stronger Than During 2017 Bull Market

With increasing speculation in the crypto community that cryptocurrency markets are on the cusp of the next major bull season, it can be easy to lose sight of the maturation that the crypto ecosystem has undergone to get to the present moment. When comparing the current crypto markets against the climate preceding the previous bull run, many top markets have seen volume gains by a factor of multiple thousands, evidencing a significant expansion in market liquidity. Daily BTC trade up 519 times since 2017 As of Feb. 15, 2017, Bitcoin…

Brazil’s Central Bank to Launch Near-Instant Payments as a Response to Cryptocurrencies

A new payments system is coming to Brazil later this year promising almost instant transfers. Called PIX, the project from the country’s central bank will provide 24/7 payments in up to 10 seconds via mobile apps, internet banking and ATMs, according to reports from Reuters and local crypto news site Livecoins on Wednesday. Slated for launch on Nov. 10, 2020, PIX is aimed to speed up and reduce the costs of fiat transfers between individuals and businesses. At a launch event for the planned system on Wednesday, Central Bank of…

North Korean Internet Use Spikes 300% as Regime Turns to Cryptocurrencies

North Korea’s internet use saw a 300% surge over the past three years, as the country’s regime has continued to rely on cryptocurrencies for various activities. Exploitation of crypto and blockchain technology is among the primary tactics for the country to generate revenue as well as transfer and use illicitly obtained funds, a new study says. Titled “How North Korea Revolutionized the Internet as a Tool for Rogue Regimes,” the study was released on Feb. 9 by Insikt Group, an intelligence arm of United States-based cybersecurity firm Recorded Future. The…

Coinbase Adds Support for 2 More Cryptocurrencies in New York State

After dropping zcash in its U.K. operation last year, Coinbase has now added the privacy enhancing cryptocurrency in New York state. The San Francisco-based crypto exchange announced the news in a tweet on Monday, saying that the state’s residents can now buy, sell and exchange zcash (ZTC) on Coinbase.com, as well as in its iOS and Android apps. Last August, Coinbase U.K. quietly dropped support for zcash, providing no reason in letters to its customers. However, the move came as British regulators were saying that exchange platforms may need to…

Platform Will Support More Cryptocurrencies and Possibly Lightning Network

During an exclusive interview with Cointelegraph, BitPay CEO Stephen Pair said that the platform would soon add support for more cryptocurrencies, along with a possible Lighting Network integration. While Pair was unable to disclose which cryptos would be added to the platform next, he mentioned there’s focus on the top performing blockchains with the highest market capitalization. He said: “I’m not going to specifically name which ones we will add, but you can look at CoinMarketCap to see all the top blockchains and come up with good guesses in what…