Coinbase and Visa are teaming up to make crypto payments a reality
Coinbase is launching a Visa card that’s funded by your crypto balance. The card works by converting cryptocurrency to fiat whenever it’s used for a purchase, and users can choose which cryptocurrency they want to use for payments in the Coinbase app. Coinbase’s native app will also provide detailed spending analytics, receipts, and spending categories for consumers as well.
China is planning to ban crypto mining in a renewed crackdown on the industry
This week, one of China’s main industry councils proposed adding crypto mining to a list of banned industries, citing energy wastage and soaring electricity prices in some cities. This marks the next chapter in China’s prolonged crackdown on crypto, which began in 2017 when it began banning crypto exchanges from the country.
Here’s why Binance is emphasizing compliance as it expands internationally
This week, Binance announced that it would be partnering with CipherTrace to implement on-chain security solution to combat money laundering and illegal crypto usage. The move is indicative of the company’s relentless focus on compliance, which it sees as being key to unlocking new markets while mitigating risk globally.
One Bitcoin dealer just got a 2-year prison sentence for his unlicensed exchange
In one of the first rulings of its kind, US citizen Jacob Burrell was just dealt a 2-year prison sentence for operating a Bitcoin exchange without registering it with the US Department of Treasury. The exchange started after Burrell was a customer of another exchange, and decided to turn his crypto into cash and bring it into the US.
Wall Street is trading Bitcoin futures like never before
Last week, Bitcoin futures trading volume hit a new record on the Chicago Mercantile Exchange. Most of the increase in trading volume came directly from Wall Street institutions, which are more interested than ever in investing in the space. The higher level of futures trading also means that the chances of a crypto ETF being passed are rising as well.
The IMF says that cryptocurrencies and fintech are “clearly shaking the system”
In an interview with CNBC this week, IMF chief Christine Lagarde said that cryptocurrencies and other distributed ledger technologies are forcing the incumbents of the finance world to rethink their businesses. She also called for tighter regulations to ensure stability in the banking sector while new innovations are rolled out.
Crypto coin sales are staging a revival after the bursting of the ICO bubble
After the bursting of the ICO bubble and subsequent crackdown by regulators, crypto startups have moved onto Initial Exchange Offerings (or IEOs) as the next funding method of choice. Instead of offering funds directly to retail investors, crypto startups are now raising funding through ICO-like funding schemes that are vetted and run through established crypto exchanges.
Inside the crypto recovery, and why Bitcoin is still underpriced
Last year’s hash war between Bitcoin Cash and Bitcoin SV helped start a massive decline in the price of Bitcoin, but the markets have been turning in recent weeks as the network continues to mature. Other tokens like Brave and Augur have also played a key role in driving increased investor interest and a recovery in the markets.