Rumors Busted! Finance Minister Tells Parliament, Bitcoin Not Banned in India!

Union minister Anurag Singh Thakur, told the upper house of Indian parliament, Holding or trading cryptocurrencies like bitcoin is not banned in India.

The Minister of State to Ministry of Finance said, issues and concerns relating to Crypto currency is still under radar and investigation of a government-appointed inter ministerial committee.

 

He stressed that the Reserve Bank of India and the Ministry of Finance had issued a string of circulars and notices regarding the use of bitcoin and other similar coins.

As of now it’s cleared that Bitcoin is not banned in India! only a final report from the committee could shed more light on the final status of such nascent asset class.

Presently, there is no separate law for dealing with issues relating to cryptocurrencies,” wrore Thakur in his response. “Hence, all concerned Departments and law enforcement agencies, such as RBI, Enforcement Directorate and Income Tax authorities, etc. take action as per the relevant existing laws.”

Thakur went on stating “It is difficult to state a specific timeline to come up with clear recommendations. The Inter-Ministerial Committee (IMC) under the Chairmanship of Secretary, Department of Economic Affairs is examining all issues, including the pros and cons of the introduction of an official digital currency in India. No decision on licensing and authorising any entity or company to operate such schemes or deal with Bitcoins or any virtual currency has been made as yet.”

Bitcoin To Play Major Role in 2020 US Election!

Bitcoin price saw a gain after the comment of Donald Trump as bitcoin traders and investors bet that Trump’s acknowledgment of bitcoin will bring greater awareness of crypto and could push prices up.

 

In the crypto world, they took Trump’s tweets as an endorsement of bitcoin and the underlying blockchain technology.

Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago,” Coinbase chief executive Brian Armstrong tweeted. “‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step three y’all.

Mati Greenspan, senior market analyst at eToro wrote in a note to clients, “Even though Donald says he’s not a fan of bitcoin, the fact that he’s mentioning it at all is hugely bullish for the entire crypto market.”

Andrew Yang, has previously praised bitcoin’s underlying technology, saying: “The blockchain has a wealth of potential. [It] could make many things more secure transparent and efficient.”

Now Trump has made bitcoin a valid issue, there’s nothing stopping these and others in the race to the White House making bitcoin and crypto a bigger part of their campaigns.

Would You Buy A Physical Bitcoin For $99,000!

A listing on July 1 shows, A physical bitcoin is selling on eBay for $99,000. The seller claims the “collector’s must have” is a Casascius brass token that was created in 2011.

Payment can be made in crypto or cash or for real estate. The seller says they made the purchase back in 2012 and have kept it in their safe since then, adding: “Only a few hundred remains in the ENTIRE world.”

The private key for the bitcoin is embedded inside the physical coin on a card protected by a tamper-evident hologram.

The main question remains “What can you do with this physical Bitcoin?”

Back in March, the owner of a startup that never launched its initial coin offering attempted to sell the project on the e-commerce website for $60,000.

First Ever Browser For IOS With Web 3 Support And Crypto Wallet Launched By Opera.

Starting today The blockchain ready Opera Touch browser for iOS is available for download. This follows Opera’s addition of Crypto Wallet support on Android and PC, that means Opera is now Web 3 ready across all major platforms.

“I am happy to let you know that the award-winning Opera Touch browser for iOS now features crypto wallet integration and Web 3 support. This completes our efforts to offer Web 3-ready browsers with built-in Crypto Wallet on Android, Windows, Mac, Linux and now iOS. Opera Touch for iOS lets you seamlessly interact with the next generation of Web 3 applications on the Ethereum blockchain.”

Opera has won couple of awards the Red Dot Design Award and Gold IF Design Award. Opera Touch is an innovative web browser which is used by millions.

Opera supports all ERC-20 tokens, stablecoins and non-fungible tokens (NFT). Ethereum is a popular and quickly growing protocol that allows people to make transactions and enables developers to create decentralized apps (dApps) which provide practical use for this technology.

Opera Touch for iOS with Crypto Wallet, like the Opera browser for Android, supports the Ethereum Web3 API, making interacting with dApps seamless, without the need for browser extensions.

Cryptocurrency Trading Likely To Be Allowed In Russia.

On June 21, Russian news service Interfax reported, A representative of the Russian Ministry of Finance (MinFin) says the ministry is considering allowing cryptocurrency trading.

The Deputy Minister of Finance Alexei Moiseyev told journalists on Friday that, cryptocurrency trading may be allowed in the coming bill on the circulation of cryptocurrencies in the Russian Federation.

 

In May of last year, A bill prohibiting the use of crypto assets as a means of payment in the Russian Federation was passed.

Anatoly Aksakov, head of the Duma Financial Market Committee, called the pending decision a compromise and pointed out that the Financial Action Task Force recommended that Russia adopt a bill regulating the circulation of cryptocurrencies by the end of this year.

Also this week, news broke that the head of the Bank of Russia said that while they are exploring the possibility of launching a central bank digital currency (CBDC), it is not planned for the near future.

20 Circle K Convenience Stores Successfully Installed Bitcoin ATMs.

DigitalMint, a Chicago-based over-the-counter cryptocurrency trading platform, has installed bitcoin kiosks at 20 Circle K convenience stores as part of a pilot program across Arizona and Nevada.

This is one of the major step taken for the expansion of crypto platform since its founding 2014, according to a press release. In five years, the company has established either ATM or in-person teller branches at 250 locations in 25 states.

 

“We are thrilled to be partnering with a respected organization like Circle K,” said Marc Grens, DigitMint’s president, in the release. “This partnership opens the door for massive expansion of bitcoin access to new markets around the globe.”

Consumers can buy and trade up to $20,000 bitcoin, ethereum and litecoin per day through DigitalMint ATMs. There’s a charge of 12% Per transaction, though rate reductions are available according to the company’s website.

Joel Konicke, category manager at Circle K Stores Inc stated “Partnering with DigitalMint allows us to provide our customers with seamless access to bitcoin, at a very reasonable price.”

Purchases must be made with cash, as the company does not accept debit or credit cards. Bitcoin can also be purchased through bank wire, but the company sets a $5,000 minimum. Approved customers can have transaction limits pushed above $1 million.

The bitcoin ATMs in Arizona are located in Phoenix, Mesa, Tempe, Tucson, Flagstaff, Surprise and Maricopa. In Nevada, the ATMs can be found in Las Vegas.

Physical Cryptocurrency Debit Card Will Be Released By Litecoin Foundation.

On June 18, in a blog post, The Litecoin Foundation has announced a partnership with Bibox Exchange and blockchain firm Ternio to release a physical cryptocurrency debit card.

The companies has formed a partnership to release physical cryptocurrency debit card, that will let users spend their cryptocurrency funds both online and in physical store locations around the world. Within the project, Bibox Exchange will act as the custodian of users’ funds and leverage over $200 million worth of cryptocurrency trading volume.

Ternio will provide a dedicated platform. The Litecoin Foundation and Bibox Exchange will integrate the card directly into the Bibox Exchange and Litecoin’s official wallet, LoafWallet.

“This is an exciting partnership for us as it furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life. Leveraging Ternio’s BlockCard platform with Bibox’s exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world.”

Litecoin is not the only one or the first one to introduce a cryptocurrency debit card. Just recently, American crypto exchange Coinbase launched its Visa debit card in six European countries. Coinbase’s new offering allow users to spend cryptocurrencies they hold at any merchant that accepts Visa cards.

Visa itself published a crypto and blockchain-related job opening in March 2019. The company is looking for a Technical Product Manager at Visa Fintech at its Palo Alto office. The position’s description states that a candidate should have an in-depth understanding of distributed ledger technology and the crypto industry.

Crypto Exchange Bittrex Will Be Blocking US Users From Trading in 32 Cryptos.

On June 7, The exchange revealed the news in a post on its blog, Crypto Exchange Bittrex Will Be Blocking US Users From Trading in 32 Cryptos.

Traders from US won’t be able to access few coins listed on the exchange.

The exchange also mentioned that the traders from US will receive an email with all the instructions and explanations concerning what they are and are not allowed to do. U.S. customers won’t be able to buy or sell the select coins, while all open orders involving said assets will be canceled after the change comes into effect. Some limited functionality concerning the assets will still be available to U.S. traders and the coins will be transitioned to the Bittrex International platform:

U.S. Customers may withdraw or continue to hold in their Bittrex wallet affected Tokens/Coins for as long as Bittrex International supports a market in those Tokens/Coins.“

Bittrex International is Bittrex’s Europe-based affiliate, which lists certain tokens that are only available on the Bittrex International platform — not to U.S. users.

The decentralized exchange developed by top cryptocurrency exchange Binance will block website access to users based in 29 countries, including the U.S.

Facebook Onboards Two Former Coinbase Compliance Experts

Here is the latest Cryptocurrency news, social media giant Facebook has hired 2 new compliance experts. Both the experts are ex-employees of the Cryptocurrency exchange Coinbase. Mikheil Moucharrafie worked with Coinbase for almost 4 years before joining Facebook as a compliance officer. At Coinbase, Moucharrafie switched various designations starting from support analyst, quality assurance tester, compliance manager, anti-money laundering (AML) investigator/bank secrecy investigator to risk manager. Another expert, Jeff Cartwright worked for nearly 5 years with Coinbase as a compliance manager, head of internal audit, and director of regulatory risk and exams. As Cointelegraph officially announced, Facebook has been on a consistent mission of hiring PayPal staff or people who have had prior experience of working with the Cryptocurrency industry and dedicated Blockchain staff. Apparently, Facebook has new openings in its Blockchain department.

US SEC Delays Decision on Bitwise Bitcoin ETF

Here we go now, the US Securities and Exchange Commission (SEC) delays the decision over yet another Bitcoin (BTC) exchange-traded fund (ETF), this time around the Cryptocurrency index fund provider Bitwise Asset Management’s Bitcoin (BTC) exchange-traded fund (ETF) is facing a delay. On 14th May a filing published revealed by the SEC. The SEC elaborates in the filling about the delay and requested for a public comment from interested parties.

 The Commission thus asks interested persons to “provide written submissions of their views, data, and arguments with respect to the issues identified above, as well as any other concerns they may have with the proposal.”
The filing notes that unreliable Crypto trading volumes fuel an inefficient view of the marketplace.

 “Having a regulated bank or trust company hold physical assets of a fund has been the standard under U.S. fund regulation for the last 80 years, and we believe that is now possible with Bitcoin.”

This marks yet another delay by the SEC which has yet to approve any Bitcoin ETFs. Initially submitted in January of 2019, the Bitwise ETF would have become, if approved, the first regulated crypto ETF by the SEC. As per today’s filing, the public comment period will last three weeks after the most recent amendments to the Bitwise ETF application are published in the Federal Register, followed by two weeks for responses.

The year before, SEC commissioner Hester Peirce who is also dubbed as “Crypto Mom” by the community for her dissent with the SEC’s decision to reject a Bitcoin ETF proposed by Cameron and Tyler Winklevoss, said that a Cryptocurrency or Bitcoin ETF is “definitely possible,” but it could be years away.