Category "Altcoins"

Luxembourg will cultivate the conditions for the development and establishment of a blockchain network for cryptocurrencies, as the authorities consider it to be a promising industry.
According to Luxembourg Prime Minister Xavier Bettel, the government will continue to “pave the way” for the development of innovative technologies, with the hope that the country will become a leader in digital currencies.
In fact, Bettel joked that he could create his own collection (NFT) to “make a lot of money in a very short time.”

Bettel has been Prime Minister of Luxembourg since 2013.

He is not a technician or programmer, but he is convinced that blockchain can simplify people’s lives.

“Intangible assets”

According to occasionally stated by Luxembourg officials, digital currencies are considered intangible assets.
Therefore they should not be subject to tax until they get to the point of exchanging fiat money.
In 2019, the Luxembourg government approved a bill regulating the use of the blockchain in transactions.

Source: https://www.bankingnews.gr/kriptonomismata/articles/558968/bettel-louksemvoyrgo-tha-ginoume-kentro-anaptyksis-tou-blockchain-kai-ton-kryptonomismaton?fbclid=IwAR1donvbvgfo0jgKqzSe5WDxwKt7qCptaqMUuKIRsG4HPyyRfnNKAe8Kt1w

New research from one of the top 10 major banks in Russia, Otkritie Bank, has found that 14% of Russians think crypto will replace fiat in 10 years.

According to Russian publication Nord News, the survey was conducted between April 12 and April 16, with a sample base of 1,000 Russians aged between 18 and 65 who live in cities with a population of over 100,000.

The results varied among regions, with respondents from the Northwest having the least faith in crypto — just 8% believe crypto will oust fiat in a decade, while 34% adamantly refuse to believe that crypto could replace fiat currencies for any use case.

But in Moscow, there appears to be more optimism toward crypto, with 21% of respondents believing that cash will be replaced by crypto and digital currency in the next decade. Furthermore, four out of 10 believe banks will transform themselves into “digital ecosystems” in the future.

One of the key factors in moving Russia away from cash could be the emergence of the Digital Ruble. Cointelegraph reported in March that the Bank of Russia expects a digital prototype of the Digital Ruble to have been finalized by the end of 2021.

The Bank of Russia has announced the central bank digital currency will then go into pilot trials in 2022. A previous study conducted by Otkritie in January found that 47% of Russian residents are already willing to use the Digital Ruble.

However, the latest poll also found that many Russians are pessimistic about the move to digital finance, with 39% convinced that it is impossible to give up cash because many other countries won’t be able to operate without it. It was also found that 46% of respondents believe that people should have the opportunity to choose if they use crypto or cash.

Some feel Russia’s regulations are holding crypto back from being more widely embraced. Earlier this month, a group of Russian lobbyists led by law firm Digital Rights Center launched the “Public initiative of the crypto community in Russia” campaign.

According to the lobby group, Russia’s existing laws such as the prohibition of using crypto as a form of payment and issuing three-year jail terms for failure to report one’s holdings slow down “the development of the distributed finance market.”

It appears that Russian investors are doing their due diligence in regards to taxation, however, with Cointelegraph reporting a significant rise of Russians declaring their crypto incomes over the past several months.

Source: https://cointelegraph.com/news/21-of-muscovites-think-crypto-and-digital-currencies-will-replace-fiat-in-ten-years?fbclid=IwAR1mfrhTkwYhyvUZs4pNeS5DbRN8GOjowQcETzzQucbNwQL5o3d1ysZwHY8

The central bank is already piloting the digital yuan, which is available in cyberspace, in mobile applications, as well as plastic cards. The goal is to expand its use throughout the economy.

Cryptocurrencies, with Bitcoin first and foremost, do not just represent a relatively new method of “gambling” in the markets. With their entry into the real economy, especially after Tesla’s decision to allow payment for its vehicle sales to be made in Bitcoin and the many branded and global companies that are expected to follow, they also acquire exchange value.

Thus, they now move to another track and threaten to upset and change for good the monetary balances, which have been based for decades on the omnipotence of the dollar. That is why the first ones who rush to take advantage of the new trend in an organized and central way are – who else? – the Chinese, taking advantage of existing experience and know-how and developing them to their advantage.

“A thousand years ago, when money was synonymous with coins, China invented banknotes. “Today, the Chinese government is designing currencies digitally, redesigning money in a way that could shake a pillar of American power,” the Wall Street Journal wrote in an extremely interesting report.

“Green” domination

It is recalled that according to the data of the Bank for International Settlements (BIS), the dollar is currently the currency used in 88% of all international transactions, compared to only 4% for the Chinese yuan.

The newspaper also seeks to explain the cut. This is because while many may think that “virtual money is already here, as credit cards and payment applications eliminate the need for banknotes or coins. But these are just ways to make money online. “China is turning legal tender into computer code.”

“If we want to defend our monetary sovereignty and the existing legal status, we have to plan for the future,” the China central bank’s project manager told the newspaper, which will obviously have powerful tools to control new digital currency so that it is not subject to παρόμοιες turmoil similar to that of Bitcoin nor is it an easy target for speculators.

At the same time, of course, it will control even more suffocatingly its owners – their transactions, their consumer habits, their very desire.

Starbucks, McDonald’s and. Party subscriptions

For now, however, the digital yuan is being tested. It is available in cyberspace, mobile phones or plastic cards for the lesser initiated, and is displayed on a screen in the form of… Mao Zedong. In fact, it does not even require an internet connection to spend.

Evidence shows that 100,000 Chinese have already downloaded the app on their mobile phones, and can make limited transactions at various stores – including Starbucks and McDonald’s branches in China. The KK also enables its members to arrange their monthly subscriptions in this way.

Will this process lead to the gradual digitization of China’s entire monetary system, as some have already argued? It is unknown at this time what he will do after leaving the post.

What is certain, however, is that Xi Jinping wants to associate his name with a major breakthrough at this level. A cut that may prove decisive for China’s position in the international arena.

What will Washington do?

But what is the reaction of the US and the competent authorities to the developments and plans of Beijing? For now, information coming from Finance Minister Janet Glenn and Central Bank Governor Jerome Powell shows no concern or rush to plan for the digital dollar.

Others, however, take a different view – such as former IMF executive and current Atlantic Council member John Lipsky: “Anything that threatens the dollar is a matter of national security. “And that threatens the dollar in the long run.”

Are you saying the new monetary war is digital?

Source: https://www.in.gr/2021/04/07/economy/diethnis-oikonomia/polemo-sto-dolario-kiryssei-kina-oplo-psifiako-nomisma-ti-morfi-tou-mao/?fbclid=IwAR1AQvuxMQBgPyCpJFQGIPb0NKmEACtZmBlagDecHakpcRkiE1yJEPRxQoI

A recent United Kingdom-wide survey on attitudes toward cryptocurrency shows that almost a third of respondents are curious about investing in digital assets.

Crypto trading platform Ziglu commissioned the survey through OnePoll, a market research firm that polled 2,000 Britons.

However, of the 31% who expressed an interest, 62% have held back because they do not understand the market, and 43% say that they do not know a safe way to buy crypto.

This lack of quality information doesn’t hold back all potential investors though.

Of the 14% of those surveyed who had already bought cryptocurrency, 13% claimed to have no prior investment experience whatsoever, while 23% considered themselves novices in the field of investing.

Digital assets were found to be most popular in London, where 30% of respondents had bought crypto in the past. This figure dropped to 9% in Wales, the least crypto-savvy part of the Ubited Kingdom.

Cryptocurrency is certainly gaining legitimacy in the U.K. public’s eyes. Asked how they would invest 100 euros ($137), more Brits chose cryptocurrency in their top three (30%) than real estate (19%).

Although perhaps the bigger surprise is that 19% felt that investing 100 euros in real estate was a potential money-spinner.

Thirty one percent of respondents placed gold in the top three, beating out crypto by a nose. Ziglu CEO Mark Hipperson said:

“Our survey highlights the importance of financial inclusion, and that is why we will continue to spread the word not just about how crypto works but also how easy and safe it can be now to buy and sell.”

Ziglu allows account holders to buy and sell cryptocurrency directly through their mobile app, transfer it to other account holders and use it for purchases via a debit card.

Source: https://cointelegraph.com/news/survey-finds-31-of-brits-are-crypto-curious-but-lacking-information

In 2020, Robinhood’s cryptocurrency division had an average of about 200,000 new customers trading on its platform each month, according to the company’s blog post.

Nearly 6 million new users have signed up for cryptocurrency services in the first two months of 2021 amid a surge in trading volume and sharp fluctuations in cryptocurrency prices such as Bitcoin and Dogecoin, according to a statement from renowned digital trading platform Robinhood February 25, 2021, cited by a Reuters article.
In 2020, Robinhood cryptocurrency services had an average of about 200,000 new customers trading on its platform each month, according to the company’s blog post

A Robinhood spokesman declined to comment on the total amount of customers trading in the cryptocurrency market through the app, which also offers stock and options trading.

The records

The price of Bitcoin increased by more than 300% in 2020 and this month reached a high of $ 58,354 while the market capitalization jumped from $ 1 trillion.
Dogecoin has also driven a crazy rally driven by the frenzy of micro-investor trading fueled by social media that has pushed up the stock of companies like GameStop.

Fluctuations

Dogecoin was created largely to satirize the 2013 cryptocurrency frenzy, it is still traded and its price fluctuates widely.
A tweet earlier this month by billionaire businessman Elon Musk in support of Dogecoin led the currency to rise more than 60%.

Services

Robinhood currently allows customers to buy, sell and hold cryptocurrencies and recently stated that it intends to enable customers to retain and withdraw them in order to transfer them to other “wallets”.
In January, Robinhood angered some of its customers when it temporarily disabled a feature in its app that allowed users to buy instant batteries due to the investment frenzy that accompanied the GameStop case.
Robinhood is expected to make an initial IPO valuation of more than $ 20 billion this year.

Source: https://www.bankingnews.gr/kriptonomismata/articles/548701/robinhood-eksi-ekatommyria-neoi-xristes-stis-ypiresies-kryptonomismaton-se-dyo-mines?fbclid=IwAR0Lh5a616oVoqWoPzQoWDU06DqaG1Yvj7pQ1alFl5_H7zkAOymYvqCMgb0