25,000 Major Retail Stores Including Sportswear Giant Decathlon Will Be Accepting Bitcoin

On Sept. 24. French crypto news outlet Cryptoglobe reported the development during Paris Retail Week, By the year 2020, More than 25,000 major retail stores in France, including sportswear giant Decathlon and cosmetics store Sephora will accept Bitcoin.

The new cryptocurrency payments system is launching via a partnership between point-of-sale technology provider Global POS, the EasyWallet application and payments platform Easy2Play. At the moment of sale, Bitcoin (BTC), funds will be automatically converted into euros.

There are few others who have joined in this initiative. Well-known retailers signing on to the initiative include Boulanger, Foot Locker, World House, Intersport, Cultura, Maisons du Monde, and Norauto.

Stéphane Djiane, CEO and founder of Global POS, has given a statement proposing that:

This is an important symbolic step in the evolution of payment methods in France. However, more than a symbol, what we bring to 25,000 outlets is the ability to safely enter the world of Economy 3.0.”

Central Bank Of China Is Ready To Launch Cryptocurrency With The Help Of Few Institutions!

According to Forbes, China’s central bank is ready to launch a state-backed cryptocurrency and hand it out to several major institutions in the country.

Some of the Institutions are Commercial Bank of China, Alibaba and Tencent to help distribute the cryptocurrency into the country’s economy.

According to Forbes‘ sources, the plan is to launch the digital currency as soon as Singles Day on November 11, China’s busiest shopping day.

China’s central bank is hoping to eventually spread the currency to the West through participating banks — but it’s unclear if and when that will occur.

First Ever Sim Card With Crypto Facilities.

Cryptocurrency and telecommunications company Telx Technologies announced the launch of the first crypto SIM card wallet that enables transactions via SMS.

On Aug. 22, The company published a post explaining how this will work, the card allows its users to send cryptocurrencies via SMS with their dedicated crypto phone number. The thing to note here is, these transactions do not require a smartphone or an active Internet connection. On the other hand, the system also offers no control over a user’s crypto wallet.

Telx also mentioned this in its announcement: “At Telx our goal is to make transacting digital currency as easy and accessible as possible. This means creating solutions that technical and non technical people alike can adopt. We believe there is tremendous synergy between payments and messaging.”

According to the post, the crypto SIM card is available in over 180 countries, allows unlimited SMS messaging and supports Bitcoin (BTC), Litecoin (LTC), DASH, Zcash (ZEC) and Bitcoin Cash (BCH). To execute a crypto transaction via this service, its user can send an SMS to any phone number.

The company promises to prevent SIM swapping and phone number porting, to accept transactions originating only from the proper SIM card, to protect the wallet with a dedicated PIN number and to provide backup keys in case of a theft or loss.

Rival To Facebook’s Libra Is Ready!

Binance recently revealed it’s open blockchain project “Venus” focused on developing localized stablecoins worldwide.

In an announcement on Aug 19, Binance argues it is well-positioned to launch such a currency ecosystem in light of its existing public chain technology, Binance Chain, wide user base and already established global compliance measures.

Binance is looking out for partnerships with governments, corporations, technology firms, and other cryptocurrency and blockchain projects in order to develop a new currency ecosystem that will empower both developed and developing countries.

As per the report, Binance’s vision for the project, is to “build a new open alliance and sustainable community” that enlists partners who wield influence on a global scale.

With its choice of name, “Venus,” Binance is also stepping into the astrological waters of both Facebook’s Libra project and the Winklevoss Twins’ Gemini exchange and Gemini dollar.

Bitcoin Is Legal And Taxable In New Zealand!

While Donald Trump is busy bashing Bitcoin, New Zealand’s tax authorities have ruled that income in cryptocurrencies is legal and provided guidance on how exactly it should be taxed.

In a tax information bulletin published on July 4, the New Zealand Inland Revenue Department summarized the provisions of the public ruling, made under s 91D of the country’s Tax Administration Act 1994.

This doesn’t applies to self-employed taxpayers, it only applies to salary and wage earners, covering both remuneration for services and bonuses, commissions and gratuities.

“In the current environment where crypto-assets are not readily accepted as payment for goods and services, the Commissioner’s view is that crypto-assets that cannot be converted directly into fiat currency on an exchange are not sufficiently ‘money like’ to be considered salary or wages.”

As reported, tax authorities and lawmakers globally are increasingly turning their attention to cryptocurrencies. Last week, crypto industry sources claimed that the United Kingdom’s tax authority was allegedly requesting that digital currency exchanges provide it with information about customers’ names and transactions aiming to identify cases of tax evasion.

Bitcoin Miners Income Is Impressively Higher Than BSV & BCH!

Bitcoin miners earned up to four times the revenue accrued by their counterparts on the Bitcoin SV and Bitcoin Cash networks combined in one day!

Bitcoin miners earned $540,000 in transaction fees. This figure is more than four times the $130,000 earned by miners on the BSV and BCH chains combined over the past 12 months, According to August 2, 2019 tweet from “Shakepay.”

BCH miners see under $200 in transaction fees per day and Bitcoin regularly posts $500,000 in transaction fees alone on a daily basis. BSV miners were still running at a loss, five months after the chain split, Back in April 2019.

The top-ranked crypto is still some way off from the likes of Visa in terms of the daily transaction load. Thus, for BCH and BSV, the distance to the pinnacle of global payments appears even more insurmountable.

Majority Of The Investors In US Ready to Invest in Bitcoin.

Bitcoin is one of the most preferred investment options in the world, Bitcoin was intended as currency, rather than an investment tool. As per a new survey by Grayscale Investments, about 36% of the investors in the United States are willing to invest in BTC. That means, despite all the controversies surrounding it, BTC has a potential of over 21 million new investors alone from the US.

The report states “Investors are constantly looking for new ways to diversify their portfolios as traditional assets and markets have begun to move more closely in sync with one another. Increasingly, savvy investors recognize that bitcoin and other digital currencies may have unique investment characteristics that provide diversification far beyond the basic 60% stock/40% bond portfolio allocation.”

At a time when regulators across the globe, including the US President Donald Trump, are criticizing crypto and calling for stricter regulations, the report brings new hope for the US industry stakeholders.

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.

There is news that Bitmex is selling user’s data! However, Bitmex is denying it.

Bitmex is saying that they are very much transparent on how data is used.There are allegations on Bitmex regarding its new user agreement which will allow it to sell trading data to third-party firms.

On Tuesday, Bitmex announced that it had updated its Terms of Service Agreement, including changes to the intellectual property clause. When the updates go into effect, as of March 6th, BitMEX users will give up any rights of ownership for content posted on the platform.

Clause 3.4 states that HDR Group, which owns BitMEX, “shall be the sole owner of any derivative work produced by the HDR Group based on, or in any way connected with, your content, and shall have the right to use such derivative work for any purpose, commercial or otherwise, without any further obligation to you.”

They got quickly criticized for their publication, suggesting that BitMEX would be able to sell users’ data, including trading patterns, onto third-party trading firms. With this news, some Reddit user stated, institutional traders would be able to construct behavioral profiles on retail investors.
In a type of activity known as order flow trading, a firm with access to trading data could accurately determine the levels at which retail investors would buy and sell. A firm can profit from altering market conditions with this information.

For example, if sellers were only prepared to sell Ether (ETH), at $147 (the ETH price was $137 at press time), a firm armed with their trading data might put up a lower offer limit, undercutting the market and pushing other traders to sell for lower prices.

One Redditor, speaking on behalf of the exchange, denied the allegations.
“BitMEX is not selling customer data,” the Redditor commented. “The purpose of this notice is to inform users that we will soon be providing greater transparency about how your data is used within our network and with the services we use (alerting, recapture, Yubico, Fresh desk).”

In traditional markets Purchasing order flow is already common practice. In the early 1980’s, Bernie Madoff, was one of the first traders to pay brokerage firms for the right to execute their clients’ orders, oftentimes a penny or two per share, who is currently serving a life sentence for eleven federal felonies.

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BNB Breaks Records, Scandals of Coinbase and Bitcoin at Starbucks?

This week the market calmed down slightly after last week’s volatility, in spite of the downtrend the market continues.

Very few Alt’s are affected in the same way, and BNB continues get high in complete disregard of market patterns, as a result of the Binance Launchpad, continuing to generate headlines and ICOs, next one already in the barrel.

Raven coin pumped up, and other cryptos showed volatility unseen in the market last year. 2019 began with an optimistic tone and it seems that money is beginning to flow back into the market, although one should tip toe because it is a known practice in the capital markets to enter positions at the beginning of the year reason what builds the support, but is insufficient to keep Bitcoin price above $3,000. In terms of trading, one can see a pattern of recovery that is beginning to lighten and an influx of money going towards inferior Alt’s in what seems like the famous Pump & Dump scene that always finds new victims.

Important note- the trading volume, which ended February as the largest volume since February last year, it is too early to say that this is a true gospel and the market is still post-traumatic.

Sources revealed that Starbucks got a significant share of Bakkt’s futures platforms, in exchange for using its software enabling crypto payments at Starbucks.

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