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The Main Features of Bitcoin how to use cryptocurrency – Fish Stripes

If you are a beginner looking for an introduction to the world of cryptocurrencies, the main features of bitcoin are the decentralised nature of the currency and its network of computers. The technology behind Bitcoin is based on a decentralized network of computers, or blockchain, which is a distributed ledger that allows users to conduct transactions without involving any central point. This means that any information entered into the network will be protected against third-party fraud.

Bitcoins are held in digital wallets, where the user stores their private keys. To prevent counterfeiting, a digital signature, called a public-encryption key, is used to verify transactions. This makes each bitcoin recognizable throughout the network, and makes it difficult for someone to copy an entire block. Bitcoins can also be transferred using computers or mobile apps. Bitcoins are created by competing users, known as miners, and winners receive 12.5 bitcoins every 10 minutes.

Despite the many benefits of Bitcoin, some disadvantages exist. One is that the currency is not intended to handle very large volumes of transactions. Bitcoins anonymity is compromised by law enforcement. Furthermore, it is vulnerable to hacking, and centralized governments can prevent people from making transactions. In addition to the risk of being hacked, bitcoin is not suitable for use by people who are not able to pay for goods and services.

You may be wondering what security features does bitcoin offer. Well, bitcoins distributed network has over ten thousand nodes throughout the world, which ensures a secure system in case of a server failure. This makes it nearly impossible to hack into the system, which is why it is highly unlikely to happen. And while the security features of Bitcoin are relatively high, this does not mean its completely secure. The bitcoin protocol is far from perfect, and is not always completely secure.

However, the technology behind Bitcoin is much safer than other forms of money. The system has many strong security features, including a public ledger and multiple signatures. These features prevent unauthorized third parties from tracing payments and spending them fraudulently. Another feature of bitcoin is that it is impossible for a third party to impersonate a bitcoin. It also means that no one person can control the entire bitcoin network. While bitcoin can be difficult to trace, it is essentially indestructible.

In addition to the security features, another important feature of bitcoin is that transactions are completely irreversible. Furthermore, there is no need for a merchant account to accept bitcoin payments. You can use a bitcoin wallet application on your smartphone or computer to make payments. All you need to do is input the recipients address and the amount to be paid. Most wallets will allow you to enter the recipients address by simply scanning a QR code or by touching two phones together using NFC technology. Bitcoin payments are available at anytime, anywhere, and are safe from fraud and identity theft.

Today, Bitcoin can be used for completely different tasks. Including use for trading, investing, keeping your savings, participating in entertainment, choosing the best bitcoin slots, sports events. More and more companies are using bitcoin for their transactions and cooperation with customers and business partners.

The Bitcoin trading system uses the users data to analyze and combine it with the chances of the current market. This system is designed to provide breaking news quickly. In the event of any significant event, it will let the users know immediately. With these features, users can trade without any difficulty. Beginners will find these features very helpful. For more information, you can visit the official website of the Bitcoin Trading System. However, its best to seek out a qualified professional in this field.

When trading in bitcoins, you will need a trading account with a bitcoin exchange. Once registered, you will need to go through authentication processes that will give you the opportunity to open a trading account. Then, you will need to transfer your funds into the account. Different exchanges allow different methods of deposit and withdrawal. Make sure to research different exchanges to get an idea of their features before you sign up. For example, the deposit and withdrawal fees of exchanges will vary.

The most important part of trading cryptocurrencies is to choose the digital value and the trading method that is most appropriate for you. This will help you keep things simple. Listed below are some key features of Bitcoin trading. Lets explore the wonders of Bitcoin and its trading features. Then, dive in and start exploring. Youll soon have a better grasp of how the Bitcoin market works. Once youve chosen the method, start trading.

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Take a Cryptocurrency Course to See If They’re for You – Small Business Trends

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In June 2009, one Bitcoin (the first Crypto) was valued at 0.0001 USD, by November 2021 the value of one Bitcoin has hit a record high of 68,990 USD. Currently, there are several cryptocurrencies available. Several banks and corporations across the globe have started to recognize cryptocurrency as a means of transaction. There are several courses available online for cryptocurrency so you can learn about this financial tool.

Here are the most popular online cryptocurrency courses.

Starting with what cryptocurrency is, Full Cryptocurrency Course: Bitcoin, Ethereum & Blockchain explains what blockchain, Bitcoin, and Ethereum are. The course goes into how to set up and store cryptocurrency in a wallet, trade and exchange cryptocurrencies, safety and security measures when using crypto, and how to participate in an ICO and invest with crypto.

Cryptocurrency Fundamentals: Buy, Sell, Trade Cryptocurrency teaches you what cryptocurrency is and its mechanisms of it. It will also teach you the different types of cryptocurrencies and which ones are the most valued. Further, it explains what Ethereum tokens are and the difference between coins and tokens, and the trading and storing of crypto.

In 24-hours The Complete Cryptocurrency Course: More than 5 Courses in 1 will briefly discuss blockchain, crypto investing, crypto mining, crypto wallets, and crypto exchanges. It then shows you the pros and cons of 10 popular Cryptos (Bitcoin, Ethereum, Ripple, Litecoin, Monero, Zcash, Dash, NEO, Cardano, and Stellar) and how to buy and sell them. Furthermore, it covers 5 different exchanges and 5 different wallets.

Crypto Trading 101: Buy Sell Trade Cryptocurrency for Profit teaches how to invest and profit on crypto using Japanese candlestick charts, volume analysis, and breakout patterns. This 6-hour-long course starts with the basics of crypto and what blockchain technology is, and emphasizes technical patterns of trading with crypto including day trading.

Build a Blockchain and a Cryptocurrency from Scratch is the course that explains the building and implementation of blockchain and crypto. It also discusses the core concepts of blockchain such as proof-of-work algorithm, mining, and peer-to-peer connection. Moreover, it shows how to create API, unit test components, and create a transaction pool and a wallet.

In 16 hours, Cryptocurrency Investment Course 2022 will help you familiarize yourself with blockchain and cryptocurrency. Specifically, you will understand and exploit profitable narratives like NFT, Metaverse, Defi, Launchpads, gaming, and Meme Coins. The course also breaks down how to identify crypto with the biggest potential, use centralized platforms such as Binance and Coinbase, and decentralized ones like Uniswap and Pancakeswap.

Cryptocurrency: Complete Bitcoin, Ethereum, Altcoins! (8 HR) teaches you what cryptocurrency is and how it is used. It trains you on how to invest and trade with crypto as well as use it for personal use. The lessons also include ICO risks and rewards and their comparison to stock market IPOs, building your crypto portfolio matching your risk tolerance, and much more.

Updated for 2022, The Complete Cryptocurrency & Bitcoin Trading Course schools you with step-by-step technical crypto trading techniques and profitable strategies. Included in the lesson; setting up a crypto wallet and protecting it, candlestick chart analysis, identifying the right methodology to determine market trends and reversals, and how to protect your money when the market crashes.

Algorithmic Cryptocurrency Trading + Top 5 Robots in 2022 teaches you how to fully automate trading using 5 trading strategies as well as trading manually. You will also learn how to diversify your risks between 2 cryptocurrencies (Bitcoin and Ethereum), 2 different timeframes, and 5 strategies. And finally, you will get 5 EAs (Robots) for algorithmic crypto trading.

Cryptocurrency Investing Buy & Trade Bitcoin & Altcoins is a beginner course that elaborates on how to invest, buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. It starts with how to buy crypto with real money and explains the fundamentals of Blockchain and Crypto including the cryptocurrency trading graph.

Understanding cryptocurrency can mean stepping into the future, as the world market is digitalizing and heading into a whole new dimension where money is decentralized. All courses mentioned above are self-paced courses that award a certificate of completion and lifetime access to all the learning materials and videos, with a 30-day money-back guarantee.

Image: Depositphotos

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Is cryptocurrency dead in Hawaii? – KHON2

HONOLULU (KHON2) The bill that would have established a program for the licensure, regulation and oversight of digital currency companies in Hawaii was indefinitely deferred Friday afternoon.

Its unfortunate news for the cryptocurrency companies participating in the Digital Currency Innovation Lab (DCIL), the states first pilot program that allows digital currency issuers to do business in Hawaii without having to first obtain a state money transmitter license.

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Without the passing House Bill 2108, the DCIL is scheduled to close for transactions on June 30, 2022, for both businesses and consumers.

The disclosures explained that transactions allowed from July 1, 2011 to December 31, 2022 should be to close accounts, said Iris Ikeda, Commissioner of the state Division of Financial Institutions (DFI).

Ikeda told KHON2 that those using licensed money transmitters can continue to conduct virtual currency transactions, as long as they meet the requirements. However, if they are conducting transactions with companies that are not licensed as money transmitters or not part of the DCIL these companies are engaging in unlicensed activity for which DFI could take enforcement action.

Ikeda didnt provide an example of what kind of enforcement action could be taken, but she did confirm this statement by Ryan Ozawa, who served as DCILs community engagement consultant:

Hawaii cannot, and never did, outlaw cryptocurrency. But it will again be difficult for the average person to invest and explore the space.

Its true that Hawaii did NOT outlaw cryptocurrency transactions, said Ikeda.The guidance says that cryptocurrency transactions is covered by our money transmission law, and companies need to get that license.

I suspect some choose to ignore Hawaii law, and some genuinely feel they are not subject to it, especially if the exchange is based outside the U.S. Id never ascribe nefarious or illegal intent, Ozawa said. Its reasonable to think that if they didnt refuse to service Hawaii customers before, they wont start now, though I suspect that the state DCCA DFI has probably not really gone after any of them aggressively.

Ozawa added that theres still a chance the state might get more aggressive with certain companies that could cause them to fold up shop too. The DFI currently does not have a list of companies conducting money transmitter transactions using virtual currency, according to Ikeda.

We are assessing the next steps since all of the bills at the legislature related to continuing virtual currency activity have not made it through the process, Ikeda said. The only bill alive for the legislature to vote on is a task force to study blockchain and cryptocurrency.

The bill shes referring to is Senate Bill 2695, which would establish a blockchain and cryptocurrency task force. The bill does not address current activity in their DFI/HTDC study.

Its clear theres a massive amount of interest and curiosity about digital currencies in Hawaii, just like everywhere else in the world, said Ozawa. The key is to balance opportunity with consumer protection, as any new and exciting area of technology is also a target of criminals and bad actors.

Ozawa shared that the DCIL was designed to cautiously open the door to exchanges to see how consumers fared and to collaborate on developing sound policy. During his time serving as DCILs community engagement consultant, Ozawa knows that all the effort invested into the pilot program resulted in a carefully crafted license. He spoke openly about his disappointment:

Im disappointed that the legislature chose to set up its own task force to do even more research resulting in confusion and frustration for everyone who participated in the regulatory sandbox and are now looking at having to close accounts and starting all over, he said.

Check out more news from around Hawaii

So what does cryptocurrency look like for Hawaii after this?

Cryptocurrency will grow in Hawaii and everywhere, regardless of what lawmakers do, said Ozawa. Without a regulatory scheme in place, the state has just made it harder for everyday people to get into the space. Meanwhile, anyone remotely technical will be able to engage and invest with ease.

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Gibraltar became a hub for crypto now it wants to tackle attempts to manipulate the market – CNBC

The overseas British territory wants to become a global hub for crypto firms.

Geography Photos | Universal Images Group | Getty Images

Gibraltar has unveiled new regulations for the cryptocurrency industry, taking aim at potential market manipulation and insider trading in the fast-evolving space.

The overseas British territory, located on the southern tip of Spain, published an amendment to existing regulations Wednesday requiring firms dealing in bitcoin and other digital currencies to respect the integrity of markets in which they operate.

In a guidance note for regulated crypto companies, the Gibraltar Financial Services Commission says firms must combat "manipulation or improper influencing of prices, liquidity or market information, or any other behaviour which is inimical to market integrity."

"We were the first jurisdiction in 2018 to launch the legal and regulatory framework, and we're now the first jurisdiction to launch a framework for market integrity," Albert Isola, Gibraltar's minister for digital and financial services, told CNBC.

"The more there is around the world in terms of international standards for this space, the more trust, the more usage, and the more adoption we will have around the world," he added.

While perhaps better known as a seaport and popular vacation spot, Gibraltar is a hub for a number of other industries, including financial services and gambling. Its latest move forms part of an ongoing bid to lead the way in regulation of the digital currency industry.

Despite its small size, Gibraltar has a track record of developing rules for the crypto market. The region, which borders Spain but is under British control, first introduced a licensing regime for blockchain firms back in 2018.

Some fairly large names have set up shop in Gibraltar and obtained licenses from local regulators, including FTX, Huobi and Bullish, which is backed by PayPal co-founder Peter Thiel.

Executives from Binance, the world's biggest crypto exchange, also visited Gibraltar "some months back," but does not have a license, Isola said. The company is seeking to become a friend rather than foe to regulators after facing crackdowns in numerous countries last year.

The Gibraltar Stock Exchange recently agreed to be acquired by Valereum, a blockchain firm, in a bid to become the world's first regulated bourse for share and crypto trading. It's an aim Switzerland's SIX Swiss Exchange is also seeking to achieve with the creation of an exchange for trading blockchain-based securities.

The latest rules arrive as various major world economies, including the U.S. and U.K., are now introducing new rules to bring crypto into the regulatory fold.

"I think it's a sign that more and more jurisdictions are recognizing the need to do it," Isola said. "And the need to do it is because there's more and more adoption."

However, Isola insisted Gibraltar is "not doing this to market ourselves," adding: "We want a very small but quality number of firms within our jurisdiction."

Gibraltar has previously been criticized for being a "tax haven." Several major U.K. gambling firms, including Entain and 888, set up shop in the rocky peninsula, in part due to its favorable taxation regime. More recently, however, Gibraltar has sought to distance itself from such a reputation.

The region is "fully compliant with all transparency and exchange of information standards applicable in the U.K.," Isola said, adding this was at odds with descriptions of Gibraltar as a tax haven. Such transparency standards also apply to crypto, Isola added, meaning "the bar to entry is high."

Spain last year agreed to take Gibraltar off its list of tax havens after coming to a tax cooperation deal with the U.K. The issue has been a sticking point in London's negotiations with Madrid following Britain's withdrawal from the EU.

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The Wikimedia Foundation has stopped accepting cryptocurrency donations – The Verge

The Wikimedia Foundation (WMF), the organization behind Wikipedia, has announced that it will no longer accept donations in cryptocurrency, as first reported by Web3 Is Going Just Great. In an update, the WMF says it has decided to discontinue direct acceptance of cryptocurrency as a means of donating. It also says it will close its Bitpay account, preventing any future contributions in crypto.

After a lengthy discussion with almost 400 members of the WMF community, the majority voted to do away with crypto contributions 234 to 94. Some of the main arguments concerned the environmental implications of Bitcoin, the risk of scams, as well as the fact that the WMF gets such a low amount of donations in cryptocurrency compared to other forms of payment. The WMF says it received $130,100.94 worth of cryptocurrency donations in 2021, making up just 0.08 percent of the total contributions it received. Following the communitys vote, the WMF held an internal discussion and made the final call to discontinue cryptocurrency donations.

The WMF first began accepting Bitcoin, Bitcoin Cash, and Ether donations in 2014, but a number of issues prompted the organization to reevaluate this policy. Molly White, a longtime Wikipedia editor and the creator of Web3 Is Going Just Great, proposed the WMF stop taking cryptocurrency donations in January, arguing that it contradicts the organizations commitment to environmental sustainability and also signals that the Wikimedia Foundation supports inherently predatory investments.

White (who goes by the username GorillaWarfare on Wikipedia) also cited Mozillas reevaluation of its involvement in the crypto space. Mozilla ultimately decided to cease cryptocurrency donations in April after receiving backlash from users, developers, and one of its founders, Jamie Zawinski, for posting a tweet reminding users that it accepts donations in Bitcoin and Ethereum.

Im really happy that the Wikimedia Foundation implemented the request from its community, and Im really proud of my community for making what I feel was the ethical decision after a lot of thoughtful discussion, White said in a statement to The Verge. There are just too many issues with crypto for any potential donation revenue to be worth the cost of helping to legitimize it.

The WMF concluded its update by saying it will continue to monitor this issue and will remain flexible and responsive to the needs of volunteers and donors.

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A Ukranian top talent in Hamburg – ChessBase

By Bjrn Jensen

Hamburg. When Tykhon Cherniaiev, in his still childlike effervescence, tells us how he tries to make his father laugh in the daily telephone conversations, one has to pause for a moment. A twelve-year-old who does everything he can to pass his cheerfulness onto his father, who is helping to stop the Russian invasion in Kharkiv, Ukraine's second largest city it is deeply touching.

The boy arrived in Hamburg on March 8, accompanied by his mother, grandmother and sister, who is five years younger than him. After a six-day harrowing and exhausting escape from the war, a flight he had himself organised for the family, with the help of his contacts from all over the world. It ended in a two-room flat in Hamburg. Tykhon Cherniaiev has a talent that stands out among his others.

The Ukrainian is one of the world's greatest chess talents in the U12 age group. He was the blitz and rapid chess world champion under ten and therefore already generated interest in Hamburg before Russia unleashed its war of aggression. Rainer Woisin, the managing director of the Hamburg-based company ChessBase, which develops chess software and maintains a chess database, says: "We became aware of Tykhon because he has been running an internet stream for several years. We had already done several small film projects with him".

When the situation in Kharkiv escalated at the beginning of March, ChessBase offered this top talent and his family the use of their office flat in Hamburg. "I didn't know anything about the city, but I'm very happy to be here," Tykhon says in excellent English, a language he taught himself through online chats with chess and gaming partners around the world. The support he has received since arriving in Hamburg is "just great".

In fact, a whole network has come together to offer the war refugee opportunities to develop his chess career. Through the connection between Woisin and the chess-loving school headmaster Bjrn Lengwenus, Tykhon has been given a place in class six at an elite sports school.

There, for the first time in his life, he is studying together with fellow students. Because of his strict training schedule he only had remote schooling in Ukraine. "It was unusual at first, but I'm getting used to it and like it," he says. The teachers translate large parts of the lessons into English, and he is also receiving language support in German.

Especially important, however, is the integration of chess training into lesson time. He works six hours a week together with former national coach Dorian Rogozenco, who was contacted by the elite school. Rogozenco comes from Moldova and speaks Russian with Tykhon. They train another six hours in the afternoon. In addition, there are some hours every day on the laptop, where the highly gifted player, who was enrolled in the chess club by his father at the age of three and a half, works voluntarily. "He is very motivated, and almost does too much," says grandmaster Rogozenco.

Special care will be taken to ensure that Tykhons talent is not drained, says Christian Andresen, sports coordinator at the elite school, which has taken in another Ukrainian athlete, U-15 basketball player Anja Didchuk. "He is really an exceptional kid who is very well received in his class and inspires us all with his nature," he says.

Tykhon, who is already a member of the Hamburg Sports Club, is in discussion with the German Chess Federation regarding a sponsorship program, who are urgently looking for more sponsors. He could already compete for Germany at the European U-12 Team Championships in the summer, since it is possible to change federations in chess without having to change citizenship.

In this context, it is particularly important for all parties to emphasize that this is in no way about taking advantage of the plight of Ukraine or grabbing a super talent. "It is solely about guaranteeing the best possible assistance," says Rainer Woisin. All sides would be happy if Tykhon Cherniaiev will be able to his homeland after the end of the war. Until then, however, he will do everything in his power to pursue his dream of "becoming a grandmaster and the best" and bring a laugh to the face of his father.

You can read the story(in German) in the Hamburger Abendblatt

If you have comments on this story, or wish to assist this lad in achieving his goals, please contact us here:Feedback and support. We are looking for donations for his professional training and tournament participation!

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Why The Sandbox Cryptocurrency Is Up Today – The Motley Fool

What happened

Over the last 24 hours, the price of The Sandbox(SAND 4.44%) cryptocurrency traded nearly 5% higher as of 12:07 p.m. ET today after Dubai's virtual asset regulator said it plans to put a virtual headquarters in the Sandbox metaverse.

The Sandbox is a virtual gaming world run on theEthereum blockchain network, where users can create non-fungible tokens (NFTs) to use in the virtual world.

Today, Dubai's Virtual Assets Regulatory Authority (VARA), which seeks to promote Dubai as an international leader for virtual assets and to develop a digital economy in Dubai, announced that it plans to create a metaverse headquarters in the Sandbox.

Image source: Getty Images.

''VARA's acquiring land in the Sandbox is symbolic of our belief in this sector, and the onus is on us as government to be the bridge that allows investors and consumers to safely adopt, and collaboratively scale the economy," Helal Saeed Almarri, Director-General of the Dubai World Trade Centre Authority, said in a statement regarding the announcement.

Almarri added: "In addition to yielding direct economic benefit and GDP acceleration for Dubai, the VARA sees this as the first step toward shared learning and expertise development across global regulators, so that the international community can benefit from a virtual economy that has been allowed to scale safely and sustainably."

For many cryptocurrencies, blockchain networks, or metaverse worlds, it's all about adoption and legitimacy. The fact that VARA is recognizing the Sandbox and choosing it as its headquarters can only mean it views it as one of the leaders in the space.

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McLaren Inks Multi-Year Sponsor Deal with Cryptocurrency Exchange OKX, Branding to Appear at Miami Grand Prix – SportTechie

Cisco and The APGA Tour Partner to Bolster Diversity and Inclusion in GolfByAndrew CohenMay 3, 2022

Computer networking firm Cisco has partnered with the APGA Tour to support diversity and inclusion in golf, including the launch of the new four-event APGA Junior Series for youth boy and girl golfers from diverse backgrounds. APGA pro golfers Kevin Hall, Aaron Beverly and Olajuwon Ajanaku also joined Cisco as new brand ambassadors, as well as Michigan State University golfer Troy Taylor II.

The APGA Tours Aug. 11-13 event at Baltusrol Golf Club in New Jersey will now be called the Cisco Invitational at Baltusrol. Cisco will also continue to serve as the presenting sponsor of the Billy Horschel APGA Invitational, which begins tomorrow at TPC Sawgrass with the largest purse in APGA Tour history. Cisco will offer development sessions, mentoring opportunities and networking events with business and golf industry leaders to participating golfers at both events.

Hall, Beverly, Ajanaku and Taylor II join Ciscos golf ambassador roster that includes fellow APGA player Kamaiu Johnson, the PGA Tours Viktor Hovland, Brendon Todd, Keith Mitchell, Chez Reavie and Maverick McNealy, and the LPGA Tours Nelly Korda, Jessica Korda and Danielle Kang. Taylor II, a senior at MSU who made the Academic All-Big Ten last year, will wear Ciscos logo during non-collegiate amateur events as part of his NIL deal with Cisco.

Cisco and the APGA have also created the Adrian Stills Award to give to the APGA player who best represents character and sportsmanship. Stills is the APGA Tours co-founder and was one of the last African American golfers to reach the PGA Tour through its former Qualifying School format.

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Cryptocurrency unlikely to face ‘major regulation’ from Congress, predicts billionaire investor – Fox Business

David Rubenstein discusses cryptocurrency, and whether Congress will regulate the industry, with Fox News Digital.

Cryptocurrencies like Bitcoin have become increasingly popular, particularly among a younger generation, but are unlikely to face major regulation from Congress, billionaire investor David Rubenstein told Fox News Digital.

A 2013 New York Times article said Bitcoin "isnt ready for popular consumption, and it may never be," calling it a "high-risk experiment."

Even a 2018 Vox article called the cryptocurrency the "greatest scam in history."

BITCOIN REMAINS IN THE $40,000 RANGE

Yet according to Pew Research, 16% of Americans say they have traded, invested in or otherwise used a cryptocurrency, and nearly 90% say they have heard at least a little about cryptocurrency.

While 16% is still much lower than the 56% of Americans who own stock, according to a 2021 Gallup survey, it is a drastic increase from the 1% who said they had collected, traded or used Bitcoin in 2015.

Rubenstein said the popularization of cryptocurrencies is not unlike that of other new and emerging technologies.

BITCOIN IS NOT IN SHORT SUPPLY: BILLIONAIRE INVESTOR MARIO GABELLI

"Anything that comes along when people don't really know what it is at the beginning - the Internet, e-commerce, Twitter, whatever it might be - it takes time for people to get used to it," he told Fox News Digital at the Milken Institute's 2022 Global Conference. "Now, cryptocurrencies are well known. They've been around for quite some time, more than a decade."

David Rubenstein. ((Photo by Matt McClain/The Washington Post via Getty Images))

Rubenstein attributed the widespread acceptance of cryptocurrencies to a younger generation investing.

"I think people who are younger tend to feel it's a good investment or good to own some of it," he said. "Many younger people think that people in my generation have managed to devalue the currency or have borrowed so much money that the currency isn't worth what it's supposed to be worth."

BITCOIN COMING TO 402(K) PLANS THROUGH FIDELITY DIGITAL ASSET ACCOUNTS

Nicole Valentine, FinTech Director of the Center for Financial Markets at the Milken Institute, told Fox News Digital the move toward cryptocurrencies and FinTech has been spurred by Millennials and Gen Z.

"Millennials and Gen Z are the influencer generation, and theyre also the social generation, the community generation, and it just makes sense that now theyre the crypto generation," she said. "And so, with respect to FinTech, the digital demand, the digitized demand in FinTech is coming from the Millennials and Gen Z."

Domain Money founder and CEO Adam Dell argues the move is a "great development" for the crypto industry.

Rubenstein told CNBC he is invested in companies that service the cryptocurrency industry because they are "here to stay," but that he does not own any cryptocurrencies himself.

Rubenstein told Fox News Digital he has not bought cryptocurrencies outright because his advisers think you "cannot easily pick between one currency and another."

"Youre better off to do things that will service the entire industry," he said.

Despite the increased popularity of cryptocurrency in the United States, the industry faces relatively few regulations. Both Federal Reserve Chairman Jerome Powell and SEC Chairman Gary Gensler have spoken out about the need for increased regulation of the industry.

BITCOIN A STRONG INFLATION HEDGE AMID VOLATILE MARKET: OKCOIN CEO

At the Aspen Securities Forum in August, Gensler said the SEC has "taken and will continue to take our authorities as far as they go."

"We need additional congressional authorities to prevent transactions, products and platforms from falling between regulatory cracks. We also need more resources to protect investors in this growing and volatile sector," he said.

FOX Business host provides insight on countries getting off of the gold standard on "Making Money."

Powell said in March that existing regulations were "not built with a digital world in mind."

"Stablecoins, central bank digital currencies, and digital finance more generally, will require changes to existing laws and regulation or even entirely new rules and frameworks," he said.

But Rubenstein predicted it would take a "gigantic loss" or "big scandal of some type" for major regulation to disrupt the industry.

"I think if the U.S. government said it was going to increase regulation - it's talked about it for some time - you're likely to get a firestorm from Congress," he said. "Congress has a lot of people who seem to like cryptocurrencies, or at least they are close to the people who like cryptocurrencies, and I suspect you'll find a lot of resistance from Congress."

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In March, President Joe Biden issued an Executive Order on "Ensuring Responsible Development of Digital Assets," which "[addressed] the risks and [harnessed] the potential benefits of digital assets and their underlying technology."

Valentine said, based on Bidens executive order, there would be potential government regulation of digital assets, and the industry wants "clarity around regulation."

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Cryptocurrency group lobbies Congress against bills that target Russian oligarchs – CNBC

The cryptocurrency industry has been quietly lobbying U.S. lawmakers against legislation designed to prevent Russian oligarchs from using digital currencies to evade sanctions imposed on Russian President Vladimir Putin's allies and their companies following Russia's attack on Ukraine.

The Blockchain Association, a lobbying group that represents more than 70 crypto platforms including Ripple, Crypto.com and Dragonfly Capital, is trying to convince Congress that cryptocurrencies aren't being used by wealthy Russians to to avoid sanctions. It's working with lobbying shop Forbes Tate Partners against legislation that would impose more sanctions on already penalized Russians who are aiming to use crypto as a way to avoid sanctions. The bill would also empower the Treasury secretary to block crypto trading platforms based in the U.S. from doing business with those in Russia.

Two bills have been introduced in U.S. House and Senate that gives the Biden administration the authority toprohibit U.S. crypto exchanges from processing payments from Russia. The bills would also allow U.S. authorities to sanction foreign exchanges that process transactions by sanctioned Russian people or companies.

The legislation poses a grave threat to the industry, which critics say has become popular for clandestine transactions because they cannot be traced. It would essentially subject digital currencies to some of the same rules that require federally insured banks to know their customers, combat money laundering and report suspicious transactions to regulators.

The group says it's helping Congress "separate fact from fiction on the inability of Russia to transfer large sums of money via crypto transactions in order to evade sanctions," according to an email from Curtis Kincaid, the group's spokesman. A Forbes Tate Partners representative declined to comment, referring CNBC to the Blockchain Association for questions.

Jake Chervinsky, the policy head of the Blockchain Association, later said the bills aren't targeting Russian oligarchs, they are taking direct aim at U.S. crypto companies.

"These bills don't target Russian oligarchs, who aren't using (& can't use) crypto to evade sanctions. They target upstanding US crypto companies for no apparent reason except @SenWarren's crusade against a technology she doesn't understand," Chervinsky said in a tweet after publication of this story.

The crypto industry has stepped up its lobbying efforts as the Biden administration takes a hard look at whether and how to regulate digital assets. President Joe Biden signed an executive order in March calling on regulators to examine the risks and benefits of cryptocurrencies.

The Blockchain Association spent $460,000 on its own in-house lobbyists during the first quarter, a record amount since it launched in 2018, lobbying disclosure records show. The crypto lobbying shop said last year it received more than $4 million in donations from three crypto giants: Digital Currency Group, Kraken and Filecoin Foundation.

The group is lobbying against the Russian Digital Asset Sanctions Compliance Act, according to its first-quarter report. The House bill would target Russians and their affiliated companies who try to use cryptocurrency to get around their own sanctions. Crypto industry leaders say the digital currencies can't be used to evade sanctions.

Some lawmakers, however, say digital currencies should be regulated the same as a bank since the industry pitches itself as an alternative banking system. The U.S. has sanctioned a plethora of Russian-based financial institutions, including the country's central bank. The Treasury Department recently took aim at bitcoin miners operating in Russia.

"The crypto industry fancies itself as an alternative financial system, an alternative bank. Banks have been sanctioned left, right and center, and banks are pulling out of Russia," Democratic Rep. John Garamendi of California, who is a co-sponsor of the House bill, told CNBC in a recent interview. "So if they fancy themselves a financial mechanism, then they're in the same league, the same situation, as Bank of America or a Russian bank."

The group is also lobbying on the accompanying bill sponsored by Sen. Elizabeth Warren, D-Mass., in the Senate, according to its first-quarter lobbying disclosure report. That bill, titled the Digital Asset Sanctions Compliance Enhancement Act of 2022 an almost identical name as the one introduced by Democrats in the House is also designed "to impose sanctions with respect to the use of cryptocurrency to facilitate transactions by Russian persons subject to sanctions," according to a summary of the bill.

Warren, who is a member of the powerful Senate Finance and Banking committees, recently told National Public Radio that the bill is supposed to give the Treasury Department the tools to step up its oversight of crypto platforms.

"Russian oligarchs can continue to use crypto to move their money around. So we're just going to give Treasury the authorization to treat these crypto platforms much like the banks are treated. That is, you've got to know your customer and you can't be dealing with people who are in violation of sanctions," Warren said during the interview last month.

Warren accused the crypto industry of undermining U.S. national security and the sanctions against Russia.

"It's no surprise that the unregulated crypto industry has deep pockets and an army of lobbyists who are fighting against basic rules to keep consumers safe, but it's shocking that they would also work to undermine U.S. national security and our sanctions regime against Russia," Warren said in an emailed statement.

The Mortgage Bankers Association, an advocacy group for the mortgage finance industry, similarly listed on their quarterly filing the Klepto Act, a bipartisan bill backed by Warren, along with Sens. Sheldon Whitehouse, D-R.I.; Bill Cassidy, R-La.; and Roger Wicker, R- Miss., according to the group's first-quarter report. A representative for the Mortgage Bankers Association initially did not return a request for comment.

Bill Killmer, a chief lobbyist for the Mortgage Bankers Association, told CNBC in a statement days after publication that it had yet to take a position on the bill.

"As you would expect, MBA monitors all legislation that could impact real estate finance including S. 4075 The KLEPTO Act. We have taken no official position on this bill," Killmer said in an emailed statement on Monday.

The legislation is designed to expose the real estate holdings "of oligarchs, kleptocrats, and international criminals hidden in the United States, strengthen U.S. anti-money laundering safeguards, and arm law enforcement with the information required to track down kleptocrats' luxury assets in the U.S. financial system," according to a press release.

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Cryptocurrency group lobbies Congress against bills that target Russian oligarchs - CNBC

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