Fiat

Six Major Central Banks to Collaborate on Digital Currency Research

The central banks of Canada, the United Kingdom, Japan, European Union, Sweden and Switzerland created a group with the Bank for International Settlements (BIS) to jointly research central bank digital currencies (CBDC). According to a press release published by the Bank of England on Jan. 21, the aforementioned institutions will share their experience with other …

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Coinme Adds BTC Purchase Function to Over 100 Coinstar Kiosks in California

</header> <strong>With over 21,000 kiosks in the U.S., Coinstar is a popular automated service for those who want to turn their fiat coins into paper cash. 3,000 of these kiosks have been integrated with Coinme to include crypto purchase functionality, and more than 100 BTC-integrated Coinstar kiosks are now newly available in the greater Sacramento, …

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Stablecoins Are Crypto’s Version of Fractional Reserve Banking

</header> <strong>Stablecoins provide much sought after stability in the volatile crypto markets. They are sometimes even said to affect the price of bitcoin in drastic fashion. Tether (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/USDT” target=”_blank” rel=”noopener noreferrer”>USDT</a>) in particular continues to be widely scrutinized for this, with recent lawsuits about conflicts of interest and price manipulation being hotly contested. …

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China Takes Another Step Away From USD Hegemony

</header> <strong>The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further …

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Germans Rush to Buy Gold as Draft Bill Threatens to Restrict Purchases

</header> <strong>Reports have emerged depicting long lines in front of a physical gold sales location in Germany, in view of pending legislation which would once again lower the anonymous purchase limit, this time from €10,000 to €2,000. The last drop happened in 2017 when the limit was set at €15,000. A draft bill from the …

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Utorg Exchange Grants Access to Traders With Limited Verification

</header> <strong>Utorg.io is a digital asset exchange based in the U.K. that allows users in Europe and around the world to trade cryptocurrencies with stablecoins and fiat money. What sets the new platform apart from many incumbents is the simplified verification procedure for traders who don’t exceed </strong><strong>а daily limit of $1,000. Its decision to …

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Getting In and Out of the Cryptocurrency Economy Can Be Costly

</header> <strong>Since bitcoin and digital currencies have become popular, fiat on and off-ramps have sprung up that allow investors to enter and exit the cryptoconomy. However, many of the entryways into cryptocurrency markets have a hefty fee between 1-4% of the overall purchase and in order to obtain fiat for crypto the fees are just …

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P2P Crypto Trading App Allows You to Protect Your Privacy

</header> <strong>Regulatory pressures as well as the development of third-party, intermediary and custodial services in the crypto space have been limiting the share of peer-to-peer trading. A new contender is now challenging established P2P exchanges by offering users a mobile service that allows them to determine the level of privacy they want to maintain, and …

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Deutsche Bank Strategist Predicts Crypto Could Replace Fiat Money

</header> <strong>Deutsche Bank analysts have made some predictions regarding the future of cryptocurrency. Strategist Jim Reid explained why cryptocurrencies are inevitable and how the existing fiat money system could crumble over the next decade, leading to soaring demand for cryptocurrencies.</strong> Also read: Swiss Licensed Crypto Bank Expanding Into 9 Markets ‘The End of Fiat Money?’ …

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Crypto Secularizes Wealth by Returning Power to the People

</header> <strong>Secularization is the process of converting something from a religious status to a nonreligious one. In its usage here, the word “religious” has no necessary connection to a deity. The word refers to the mystification of a thing in order to elevate it to the status of the divine where it becomes unquestionable.</strong> Also …

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