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Cryptocurrencies Are Helping Venezuela’s Poor as Conditions Worsen

A Venezuelan, using the alias “Hector” to protect his identity, has spoken out against the Madura regime illustrating how the country’s poor is increasingly relying on cryptocurrency for survival, writes Bitcoin magazine.

Read the full article at https://bitcoinnews.com/cryptocurrencies-are-helping-venezuelas-poor-as-conditions-worsen/

Video https://m.youtube.com/watch?v=x3hbApNeehM&t=3s

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Is Derivatives Trading Harming the Bitcoin Market?

BitMEX, short for Bitcoin Mercantile Exchange, consistently has the highest trading volume for any cryptocurrency exchange by far, such as USD 2.5 billion in volume versus Binance’s USD 1.3 billion on July 5, 2018. However, BitMEX is usually excluded from cryptocurrency exchange ranks because it primarily trades derivative contracts that represent a certain amount of bitcoin instead of spot trading actual bitcoins.

Read the full article at https://bitcoinnews.com/is-derivatives-trading-harming-the-bitcoin-market/

Video https://m.youtube.com/watch?v=6JSA4ztixcA&t=19s

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Major Israeli Exchange to Pass on Client Crypto Details to Tax Office

A local Israeli cryptocurrency exchange has agreed to pass on client information to tax authorities as part of a government drive to tighten cryptocurrency regulations, according to local Israeli news source Calcalist.

Read the full article at https://bitcoinnews.com/major-israeli-exchange-to-pass-on-client-crypto-details-to-tax-office/

Video https://m.youtube.com/watch?v=nuvPHQ-6M0c

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How Much Would Bitcoin’s Price Be If It Extinguished Fiat Currency?

An interesting thought experiment can be conducted in regards to what Bitcoin’s price would be if all fiat currency ceased to exist, and if all of that money were put into Bitcoin. This can be defined as Bitcoin’s extinguishing capacity.

Read the full article at https://bitcoinnews.com/how-much-would-bitcoins-price-be-if-it-extinguished-fiat-currency/

Video https://m.youtube.com/watch?v=TbYIzCFfZPQ

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Switzerland’s Stock Exchange SIX Launches Crypto Platform

Cryptocurrency-friendly Switzerland has taken another step along that road with the country’s stock exchange, SIX,  announcing that it will open its doors to digital currencies, according to the Financial Times.

Read the full article at https://bitcoinnews.com/switzerlands-stock-exchange-six-launches-crypto-platform/

Video https://m.youtube.com/watch?v=3wOVD1pBgtk

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Dutch Speed Trading Firm to Trade Crypto Despite Regulator Concerns

Amsterdam-based Flow Traders NV, Europe’s largest trader of exchange-traded funds is now going crypto, but it has turned out not to be a move recommended by the Dutch Authority for the Financial Markets (AFM), according to Cointelegraph.

Read the full article at https://bitcoinnews.com/dutch-speed-trading-firm-to-trade-crypto-despite-regulator-concerns/

Video https://m.youtube.com/watch?v=Hj8j-wM7qic

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Romania’s Crypto Development Calls for E-funds Issuance Draft Bill

The Romanian Finance Ministry has announced the release of what it refers to as an Emergency Ordinance, which targets the issuance of e-funds in the country, writes Cointelegraph.

Read the full article at https://bitcoinnews.com/romanias-crypto-development-calls-for-e-funds-issuance-draft-bill/

Video https://m.youtube.com/watch?v=apyJBF7YqZI

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Petro to Fund Housing for Venezuela’s 2 Million Homeless

The Venezuelan Housing Ministry is to initiate a fund to support the country’s homeless by constructing homes for them using the national cryptocurrency, the Petro, according to Cointelegraph.

Read the full article at https://bitcoinnews.com/petro-to-fund-housing-for-venezuelas-2-million-homeless/

Video https://m.youtube.com/watch?v=POHKhQ7ikLQ

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Bermuda Prioritizes Blockchain Startups in Revised Banking Act

Bermudian officials led by premier and finance minister David Burt have voted to amend banking laws in favor of blockchain and fintech companies. These changes to the Banking Act follow closely the Digital Asset Business Act and an initial coin offering (ICO) bill recently passed by the Bermudian government.

Read the full article at https://bitcoinnews.com/bermuda-prioritizes-blockchain-startups-in-revised-banking-act/

Video https://m.youtube.com/watch?v=2_IReelVgjg

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Crunch Time for Crypto in Kenya as Legal Status Deadline Looms

Kenya’s Treasury Secretary Henry Rotich reportedly has two weeks to make a decision regarding cryptocurrencies’ future as legal tender, according to Coingape.

Read the full article at https://bitcoinnews.com/crunch-time-for-crypto-in-kenya-as-legal-status-deadline-looms/

Video https://m.youtube.com/watch?v=SxOEUQjaWr0

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25-Cent Crypto Sold for $6M in Bitcoin on Binance, Prompting Suspension, Policy Changes

A single Syscoin, worth about USD 0.25, was inadvertently sold for BTC 96 (USD 6.3 million) on Binance on 3 July 2018. This unusual trading activity prompted a temporary suspension of the entire exchange. When trading resumed, new policies were announced by Binance, including a Secure Asset Fund for Users (SAFU) that will compensate customers in the event of extreme losses of cryptocurrency in the future.

Read the full article at https://bitcoinnews.com/25-cent-crypto-sold-for-6m-in-bitcoin-on-binance-prompting-suspension-policy-changes/

Video https://m.youtube.com/watch?v=WjGIDWdXVKQ&t=6s

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Malta Passes New Laws to Claim World’s First Nation with Crypto Certainty

Malta has officially passed three bills into law to legalize cryptocurrency businesses in the country, claiming to make it the world’s first nation to provide legal certainty to the cryptocurrency field, according to Bitcoinist.

Read the full article at https://bitcoinnews.com/malta-passes-new-laws-to-claim-worlds-first-nation-with-crypto-certainty/

Video https://m.youtube.com/watch?v=QNjWISuAveM

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Philippines Fast Becoming Asia’s Blockchain Hotspot and Testing Ground

Global business head of ConsenSys in Asia, Aiai Garcia, sees the Philippines as the next tech hotspot in Asia and a home for future blockchain sandboxes, writes Cryptovest.

Read the full article at https://bitcoinnews.com/philippines-fast-becoming-asias-blockchain-hotspot-and-testing-ground/

Video https://m.youtube.com/watch?v=z_6k9V1lMY0&t=7s

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In Bitcoin We Trust, All Others Pay Cash: Another Bitcoin FUD Myth Disclaimed

In January of this year, a prominent study revealed that less than 1% of Bitcoin transactions was used for illicit activities, disproving one of the many myths surrounding Bitcoin’s prominence in illegal use, writes Bitcoinist.

Read the full article at https://bitcoinnews.com/in-bitcoin-we-trust-all-others-pay-cash-another-bitcoin-fud-myth-disclaimed/

Video https://m.youtube.com/watch?v=U5krnzye-3g&t=66s

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India’s Exchanges Adapt Around Central Bank Crypto Business Ban

Despite the Indian Supreme Court’s decision not grant interim relief to those affected by the Reserve Bank of India’s (RBI) ban on banks’ dealings with crypto-related businesses, some exchanges are operating as normal, according to Coindesk.

Read the full article at https://bitcoinnews.com/indias-exchanges-adapt-around-central-bank-crypto-business-ban/

Video https://m.youtube.com/watch?v=-TOw3vouSas

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40% of UK’s Latest Regulatory Sandbox Companies Blockchain, Crypto Related

Out of the 29 firms released by the UK Financial Conduct Authority (FCA) this week to the fourth cohort of the regulatory sandbox, ten are blockchain and crypto asset firms, according to the EconoTimes.

Read the full article at https://bitcoinnews.com/40-of-uks-latest-regulatory-sandbox-companies-blockchain-crypto-related/

Video https://m.youtube.com/watch?v=fbJ2wtriJag

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UK MP Says Government Needs to “Unlock Blockchain” to Increase Efficiency

A British Conservative Party Member of Parliament (MP) has released his report, ‘Unlocking Blockchain’, which advocates a public-facing chief blockchain officer to oversee the UK’s blockchain strategy, according to City AM.

Read the full article at https://bitcoinnews.com/uk-mp-says-government-needs-to-unlock-blockchain-to-increase-efficiency/

Video https://m.youtube.com/watch?v=Cyc6NbRi4Io

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Japan to Upgrade Crypto and Exchange Legislation

In a recent report, local Japanese media outlet Sankei has indicated that the Japanese Financial Services Agency (FSA) is to change the legal foundations on which cryptocurrency regulations are based in the country.

Read the full article at https://bitcoinnews.com/japan-to-upgrade-crypto-and-exchange-legislation/

Video https://m.youtube.com/watch?v=K8s-_lxVnng&t=12s

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Ethereum Transaction Fees Hit $5 Record High as Network Clogs

Ethereum average transaction fees reached a record high of USD 5.53 on 2 July 2018, beating the previous record of USD 4.15 on 10 January 2018, far higher than the transaction fees between USD 1 and USD 2 during the CryptoKitties craze in December 2017 which caused a major backlog on the Ethereum network. The cause of the current spike in transaction fees, which is ongoing as of this writing on 4 July 2018, is FCoin’s voting process for listing new cryptocurrencies on their exchange.

Read the full article at https://bitcoinnews.com/ethereum-transaction-fees-hit-5-record-high-as-network-clogs/

Video https://m.youtube.com/watch?v=Wtl4YJwdH9s&t=5s

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$13.7 Billion Raised so Far as 2018 Shatters ICO Volume Record

PwC, in collaboration with Crypto Valley, has released a report titled ‘Initial Coin Offerings: A strategic perspective‘ that analyzes ICO activity from 2013 through June 2018. The report found that 2018 has shattered the yearly ICO volume record, with USD 13.7 billion raised in 2018 so far.

Read the full article at https://bitcoinnews.com/13-7-billion-raised-so-far-as-2018-shatters-ico-volume-record/