Bermuda government to accept taxes in USDC stablecoin

Based on the latest report by Circle, Bermuda became the first government to accept payments for taxes, fees and other government services using stablecoin, USD Coin (USDC). The acceptance of USD-backed cryptocurrency is a result of Bermuda’s efforts into supporting the use of USD-dollar backed stablecoins and decentralized finance protocols and services. The announcement highlighted, […]
The post Bermuda government to accept taxes in USDC stablecoin appeared first on AMBCrypto.
Source: AMB Crypto

Justin Sun announces Tron’s integration with BitGo

Tron has been one of the leading cryptocurrency to witness mass adoption given its growing ecosystem and partnerships. Adding to the tokens’ glory, Tron Foundation CEO Justin Sun tweeted about Tron’s latest adoption drive, “We are excited to be supported by BitGo, which will enable TRON to further delve into various DeFi applications and we […]
The post Justin Sun announces Tron’s integration with BitGo appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin still making its way into global monetary base

This year the crypto industry lured several companies as well as countries into its ecosystem. While this did put cryptocurrencies and Bitcoin in the mainstream spotlight, several authorities dissed the duo including the President of the United States. When authorities publicly snub cryptocurrencies, the regulatory climate surrounding Bitcoin being a part of the monetary base […]
The post Bitcoin still making its way into global monetary base appeared first on AMBCrypto.
Source: AMB Crypto

FATF Week to discuss stablecoin, virtual assets with IMF, UN, WB

Financial Action Task Force’s FATF week will see the representatives from 205 countries and jurisdictions around the world, the IMF, UN, World Bank, and other organizations discuss matters concerning the stablecoins and virtual assets and the risks associated with it. Among the many important issues, the global watchdog, in its official press release, revealed that […]
The post FATF Week to discuss stablecoin, virtual assets with IMF, UN, WB appeared first on AMBCrypto.
Source: AMB Crypto

Coinbase receives e-money licence in Ireland

The Central Bank of Ireland granted Coinbase an e-money license, enabling the company to expand its operations into the country and deliver products there. The American exchange had already taken steps to expand into Ireland during late-2018 when they had announced a new office in Dublin. This is an interesting development considering a CME executive […]
The post Coinbase receives e-money licence in Ireland appeared first on AMBCrypto.
Source: AMB Crypto

BitGo’s $100 million insurance to protect Bitstamp’s crypto assets

Bitstamp, the longest standing cryptocurrency exchange, has evolved over the years to cater to a wide spectrum of user base. The company recently announced a partnership with digital asset trust giant, BitGo, for providing custody for Bitstamp’s crypto assets. The official post read, “BitGo, a leader in digital asset financial services, will provide secure storage […]
The post BitGo’s $100 million insurance to protect Bitstamp’s crypto assets appeared first on AMBCrypto.
Source: AMB Crypto

U.S. citizens to be taxed for receiving ‘hardfork’ cryptocurrencies

The U.S. government’s stand on the cryptocurrency’s taxation aspect becomes clear as the Internal Revenue Service (IRS) issues guidance on tax implications of cryptocurrency hard forks. The guidance was issued in the form of a Revenue Ruling “that addresses the tax implications of a cryptocurrency “hard fork” to the owner of the existing cryptocurrency.” As […]
The post U.S. citizens to be taxed for receiving ‘hardfork’ cryptocurrencies appeared first on AMBCrypto.
Source: AMB Crypto

Facebook CEO Mark Zuckerberg to Testify Before U.S. Congress over Libra

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced that Facebook Chairman and CEO Mark Zuckerberg will testify before the Committee at an October 23 hearing entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors”. The hearing is a follow up on the “request to an […]
The post Facebook CEO Mark Zuckerberg to Testify Before U.S. Congress over Libra appeared first on AMBCrypto.
Source: AMB Crypto

Switzerland’s Central Bank announces agreement with BIS for CBDC development

After years of being in the wilderness, the idea of a centralized digital currency is now taking root across the world, with Switzerland’s Central Bank being the latest one to look into it. According to a recent report, the Swiss National Bank [SNB] and the Bank of International Settlements [BIS] have officially signed a concrete […]
The post Switzerland’s Central Bank announces agreement with BIS for CBDC development appeared first on AMBCrypto.
Source: AMB Crypto

‘XRP transactions ensure lesser volatility risks compared to fiat’

Ripple CEO, Brad Garlinghouse has been pioneering global crypto adoption via Ripple- traditional bank partnerships to enable faster cross border payments. While speaking about Ripple’s recent accomplishments at the Economic Club Of New York, the innovator explained how the XRP Ledger has been created to solve Bitcoin’s scalability issues. In doing so, he highlighted that […]
The post ‘XRP transactions ensure lesser volatility risks compared to fiat’ appeared first on AMBCrypto.
Source: AMB Crypto

Grayscale rebalances DLC fund by reducing all altcoins

The digital asset management firm Grayscale Investments announced the completion of its quarterly review to update the weightings of its Digital Large Cap Fund (DLC). The company claims that the DLC Fund is a passive, rules-based strategy that seeks to provide exposure to the large cap segment of the digital asset class (70% target coverage). […]
The post Grayscale rebalances DLC fund by reducing all altcoins appeared first on AMBCrypto.
Source: AMB Crypto

Bitfinex delays K.im token sale to accommodate user base

Kim Dotcom, the creator of Megaupload entered the crypto sector after announcing the launch of his crypto content publishing and monetisation platform, K.im. While the crypto project was scheduled to launch via Bitfinex in October 21, the exchange tweeted regarding a delay, “kim coin token sale has been rescheduled to start on 6th November 2019 […]
The post Bitfinex delays K.im token sale to accommodate user base appeared first on AMBCrypto.
Source: AMB Crypto

MakerDAO is gaining traction where the local currency is very volatile

When it comes to diversifying investment portfolio, the crypto ecosystem caters to the need of every type of investor depending on their specific needs. In this regard, MakerDAO’s Head of Business Development, Gregory Di Prisco, highlighted that as long as every asset added is not directly related to either, it will reduce the risk of […]
The post MakerDAO is gaining traction where the local currency is very volatile appeared first on AMBCrypto.
Source: AMB Crypto

Libra Association reveals participation of 1500 enthusiastic entities after PayPal exits project

As Libra Association looked forward to the first Libra Council meeting in 10 days, the association revealed 1,500 entities to have “indicated enthusiastic interest to participate”. Libra posted, “Building a modern, low-friction, high-security payment network that can empower billions of financially underserved people is a journey, not a destination. This journey to build a generational […]
The post Libra Association reveals participation of 1500 enthusiastic entities after PayPal exits project appeared first on AMBCrypto.
Source: AMB Crypto

‘MakerDAO will revive traditional financial market’s non functional debt market’

MakerDAO has been one of the most successful Ethereum-based crypto ecosystem, which was established with the motive of providing stability to the unstable cryptoverse. Gregory Di Prisco, the company’s Head of Business Development recently featured in an interview to reiterate his support for the technology. He highlighted how MakerDAO’s in-house crypto, Dai, follows the issuance […]
The post ‘MakerDAO will revive traditional financial market’s non functional debt market’ appeared first on AMBCrypto.
Source: AMB Crypto