Government

Venezuela to Pay Retirees and Pensioners Christmas Bonus in Petro

Venezuelan President Nicholas Maduro announced that the Christmas bonus of the country’s retirees and pensioners will be paid to them in the national cryptocurrency Petro. The Twitter profile of local news outlet Venepress reported on Maduro’s remarks on Nov. 17. This particular instance is not the first time that Venezuela pushes Petro into the wallets …

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Presidential Hopeful Andrew Yang Plans to Regulate Crypto Industry

Democratic 2020 presidential candidate Andrew Yang has outlined how he plans to regulate the cryptocurrency industry. Promise to promote legislation on cryptocurrencies On Nov. 14, Yang, an entrepreneur, lawyer, philanthropist and a Democratic candidate in the 2020 United States presidential election, wrote in a Nov. 14 blog post on the tech industry that cryptocurrencies experience …

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Study: Chinese Blockchain Spending to Exceed $2B by 2023

China’s spending on blockchain technology will exceed $2 billion in 2023, official state-run publication Xinhua reported on Nov. 10. The report claims that blockchain development in China will see a compound annual growth rate of 65.7% from 2018 to 2023. China’s banking sector responsible for the bulk of blockchain spending in 2019 Citing a study …

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Crypto News From the German-Speaking World: Nov. 3-10

The past week has marked a number of crypto- and blockchain-related developments in the German-speaking world. Malta Enterprise partnered with Deutsche Telekom’s IT service subsidiary to offer its blockchain-as-a-service (BaaS) marketplace, French IT company Atos and Austrian startup Smart Digital proposed industrial plant inspections using blockchain, and the German Federal Financial Supervisory Authority (BaFin) launched …

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Her Majesty the Queen Rules Out Crypto as Currency

Only a few weeks after the United States Internal Revenue Service published new guidance for crypto taxation, the United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs, has updated its cryptocurrency taxation policy paper for businesses and individuals. The HMRC’s approach in this policy paper is, as expected, conservative, and it stands …

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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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President Erdogan: Turkey to Finish Testing Digital Lira in 2020

Turkey’s President Recep Tayyip Erdogan directed that the government should finish testing the national central bank digital currency (CBDC) in 2020. The country’s national blockchain-based digital lira is planned to be issued by the Central Bank in accordance with the 2020 Annual Presidential Program, Cointelegraph Turkey reported on Nov. 5. Digital lira ‘instant payment’ pilots …

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Joe Lubin: China Will Avoid Blockchain’s ‘Decentralizing Aspects’

China’s forthcoming digital renminbi is unlikely to use blockchain, considers Ethereum (ETH) co-founder and ConsenSys CEO Joe Lubin. In an interview for CNBC’s Squawk Box Asia on Nov. 6, Lubin argued that the People’s Bank of China (PBoC) has little to gain — for its purposes — from the decentralized aspects of the technology. “There’s …

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New Official Register in San Marino Recognizes and Regulates Blockchain Firms

The Republic of San Marino has officially adopted the Register of Blockchain Entities, inviting companies in the industry to apply for certification. Companies can apply for blockchain certification online The project was initiated by San Marino’s fully state-owned tech innovation company, the Institute for Innovation of the Republic of San Marino, Cointelegraph Italia reports Oct. …

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Bahrain to Provide Fast-Track Setup Program for Fintech Startups

The Bahrain Economic Development Board (EDB) has introduced a new program to attract more startups to the country. According to a press release on Oct. 29, the investment promotion agency for the Kingdom of Bahrain has introduced a fast-track setup program for startups looking to do business there. The new initiative will provide an expedited …

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