In Response to Bitcoin, Central Bank of Brazil Presents Instant Payment System Pix

Banco Central do Brasil has started testing a new payment network with the promise to offer Brazilians near instant transactions and many new services. Portrayed as a response to Bitcoin, the Pix system will be mandatory for major financial institutions to ensure wide coverage. The project aims to limit the use of paper money and plastic cards to reduce the costs of the national financial system. Also read: Tax Rules Hit Brazilian Crypto Exchanges, Forcing Trading Platforms Out of Business Pix to Transfer Money Between Users Within Seconds Brazil’s new…

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Ireland Seizes Bitcoin Stash Worth $56M in Criminal Forfeiture Ruling

Ireland’s Criminal Assets Bureau (CAB) seized 6,000 BTC from a Dublin resident who was accused of growing cannabis on property located in the Wicklow Mountain region. The police found around €450,000 of marijuana plants but the €52 million ($56.1M) of BTC was the biggest single-value asset seizure by the CAB since 1996. Also read: US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks **This article has been updated at 3:28 p.m. ET. An earlier version of this article stated that the 6,000 BTC had to be held for…

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Bitcoin Price Fights to Hold $9.5K to Stave Off a Trend Reversal

Bitcoin bulls battle to keep the $9.5K level in order to prevent a drop to the 200-DMA at $8.8K. On Feb. 20 Bitcoin (BTC) price surprisingly dropped 8.85%, a move which caught many investors off guard as up to that moment the digital asset had recovered well from the President’s Day weekend correction and was trading sideways in the $10,200 range. Citing data from CoinMetrics, ARK Invest crypto analyst Yassine Elmandjra tweeted that the $1,000 price drop was the fifth largest USD correction to occur on the hourly time frame…

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BCH Funding Debate: Developers Plan to Launch IFP-Free Version of Bitcoin ABC

On February 19, a group of well known software developers announced the launch of a new Bitcoin Cash full node with the Infrastructure Funding Plan (IFP) removed from the codebase. The news was announced on the read.cash platform by the developer Freetrader who told the public that strong demand from businesses, miners, mining pools, and developers invoked the team to create a “minimally-altered client based on Bitcoin ABC.” Also Read: BCH Funding Debate: Btc.top Founder Suggests 2/3 Hash Vote and 6-Month Evaluation Developers Announce a Bitcoin ABC Node Is in…

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The Future of Crypto: The Latest Cryptography Advances Set to Change Blockchain

Industry experts tell Cointelegraph about the latest cryptography innovations and how they will influence the future of cryptocurrencies. Cryptocurrencies could not exist without cryptography. Advances in this field can have far-reaching impacts on blockchain technology and its potential. We will examine the opinions of industry experts on the latest cryptographic advances and their potential for cryptocurrencies. Zero knowledge proofs: more than just privacy Director of research at blockchain firm Blockstream and mathematician Andrew Poelstra told Cointelegraph that zero-knowledge proof (ZK-Proof) systems are “one of the most exciting areas of development”…

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United Nations Is Among New Entrants in Forbes’ 2nd Blockchain 50 List

Forbes’ newly released Blockchain 50 list members moved from focus on theory to generating “very real revenues and cost savings.” Newly released Blockchain 50 list by major finance publication Forbes features some new entrants like major international association, the United Nations. Shortly after including six blockchain-focused firms into its Fintech 50 list last week, Forbes has released another compilation of 50 global enterprises actively embracing blockchain technology. Newcomers include the United Nations, China Construction Bank, Square and others Published on Feb. 19, the new Forbes’ Blockchain 50 list is the…

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Users Pay $1M for Digital Land as 2017 ICO Finally Opens Virtual World

Decentraland recently launched its virtual reality world, seeing $1 million in land sold on its digital arena. Almost three years after its ICO, Decentraland has opened its platform — a virtual world in which participants buy and sell fake land, as well as construct buildings.  Over the past ten days, Decentraland gamers have purchased over $1 million worth of digital anchorage on the Ethereum-based virtual reality product, Bloomberg said in a Feb. 20 article. Decentralanders use the project’s native crypto asset, MANA, as payment within the game.  Users interested in…

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Tax and KYC Issues Plague Upbit’s Foreign Withdrawals, Exchange Says

South Korean crypto exchange Upbit has announced the continuous ban for its foreign users from withdrawing their funds due to tax and KYC issues. A Jinse report said that many Chinese Upbit users are finding it difficult to withdraw Korean Won ever since December. Upbit has announced to its foreign users the reasons their withdrawals are still restricted on Feb. 19  in an announcement.  Upbit said in the announcement that (Know Your Customer) KYC and Korean taxation on cryptocurrency among crypto exchanges are the two main reasons behind the restriction.…

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Top Cryptocurrencies Are Exponentially More Liquid Than Ever Before

With USDT’s volume up 32,769 times since 2017, and BTC trade having increased by 468 times, what is the crypto market outlook? With increasing speculation in the crypto community that cryptocurrency markets are on the cusp of the next major bull season, it can be easy to lose sight of the maturation that the crypto ecosystem has undergone to get to the present moment. When comparing the current crypto markets against the climate preceding the previous bull run, many top markets have seen volume gains by a factor of multiple…

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Ireland Seizes Bitcoin Stash Worth $56M But Can’t Sell for 7 Years

Ireland’s Criminal Assets Bureau (CAB) seized 6,000 BTC from a Dublin resident who was accused of growing cannabis on property located in the Wicklow Mountain region. The police found around €450,000 of marijuana plants but the €52 million ($56.1M) of BTC was the biggest single-value asset seizure by the CAB since 1996. A new era could be upon us where governments holding large quantities of bitcoin will be the norm. Also read: US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks Ireland’s Criminal Assets Bureau Seizes 6,000 BTC…

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