The Great Recession of 2008 spawned two things: Bitcoin and increasingly lower negative interest rates. To spur economic growth and ensure the stability of the macroeconomy, central banks around the world have been increasingly lowering their policy interest rates. In Japan and in much of Europe, interest rates are negative, meaning that banks get paid Read more…
Institutional investors are coming in hard and fast to the crypto market and, whether you like it or not, seem like they are here to stay. “Komainu” Japan’s top financial services and banking firm Nomura launched its much-awaited Bitcoin custody service for institutional investors this week, after over two years of development and clearing regulatory Read more…
A local report indicated that Tokyo Electrical Energy Firm Holdings Inc (TEPCO) has partnered with the Japanese trading company Itochu Corp, to develop a blockchain-based platform to trade surplus of electricity between households. Blockchain-based Trading Platform For Electricity According to the Nikkei, TEPCO and Itochu signed the partnership to utilize blockchain technology for the upcoming Read more…
JPMorgan Chase, one of the world’s largest banks with $2.6 trillion under management, acknowledged Bitcoin’s “staying” power earlier this week. The bank gave “mostly positive” feedback after an internal assessment for the pioneer cryptocurrency. Trader’s utopia Eleven years after Bitcoin’s introduction — a period which saw scams, hacks, global media coverage, stomach-wrenching price drops, and Read more…
Bitcoin price could attempt a close above $10,000 as Morgan Stanley predicts a V-shape global recovery by the fourth quarter. Economists at the investment banking giant expect global GDP to shrink by 8.6 percent year-on-year but rebound to 3.1 percent by Q1/2021. Aspects of a full recovery could increase investors’ risk appetite, thereby benefiting Bitcoin Read more…
The Swedish Central Bank will establish a test group for its potential digital currency – the e-krona. It will run for a year and should confirm if there’s an actual need case for launching a digital krona. Testing The E-Krona Recently reported by local news, the Riksbank is ready to launch a group to examine Read more…
Japanese remittance service SBI, has become Ripple’s primary partner to launch an xCurrent-backed remittance app named MoneyTap. SBI & Ripple will provide remittance services to Thailand, Vietnam, and other nations using a consortium of partner banks and Ripple’s xCurrent Distributed Ledger technology (DLT). SBI Holdings, Inc. Financial Results January 31, 2020 “SBI Remit’s transaction volume Read more…
China is the clear blockchain tech leader at the moment and the US is in danger of missing out entirely if it doesn’t even get off the starting line. China Leading the Way There have been no mistaking China’s intentions when it comes to blockchain technology. President Xi Jinping’s public endorsement of digital ledgers sent Read more…
Spending Bitcoin (BTC) may be easy, but mainstream users are avoiding it. There may be one reason – the recent interest of the taxman in digital coins. Bitcoin Income May Create Taxable Event Not only US citizens, but also internationals, see the usage of BTC as creating a taxable event. Certainly, the IRS and other Read more…
For the third time this year, the US Federal Reserve has cut interest rates amid a global economic slowdown. Crypto markets did not react to the news but the outlook for the global economy is darkening as another recession looms. What does all of this mean for crypto though? Third Cut This Year This week Read more…