Month: January 2021

Israeli Regulator Says Cryptocurrency is a Security Subject to the Israeli Securities Law

The Israeli Securities Authority issued an advance ruling paper, finding that cryptocurrency is a security subject to the Israeli Securities Law. The Authority’s position was delivered in an advance ruling request by Kirobo Ltd., a blockchain company that develops and operates a technology that allows users to cancel transactions made in digital currency. The company then charges a commission from the user. The commission may be paid in the same currency as the transaction or in the…

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5 Cryptocurrencies To Buy Other Than Dogecoin Or Bitcoin

On Friday morning, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk added #bitcoin to his Twitter profile, which sent Bitcoin (BTC) soaring over 10%. On Thursday, SatoshiStreetBets, which emulates its fellow Reddit forum, WallStreetBets, sent Dogecoin (DOGE) soaring over 360%.

As traders protest restrictions on platforms such as Robinhood, which this week limited trading of popular stocks such as GameStop Corp. (NYSE: GME) and Nokia Oyj (NYSE: NOK), decentralized coins and tokens have taken the…

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Africa’s Most Traded Currencies in 2020

Overview

The currency of a country tells you a substantial amount about its economy as well as living standards of the people.

As diverse as the African continent and her countries are, so are the currencies which see high daily volumes of trade.

Tunisian Dinar (TND)

The Tunisian Dinar trades at around 2.70 TND for 1 USD. Tunisia was colonized by the French and the use of the French Franc as the main currency continued for years, until 1960, when the country replaced the franc with dinar after obtaining independence.

The monetary policy of the country allows for the export and import of dinars, or the convergence thereof to other currencies, allowing the dinar to be one of the highest traded currencies.

Botswana Pula (BWP)

The Botswana Pula trades at around 11.04 BWP for 1 USD. The Botswana Pula is an attractive currency as traders tend to favour it when trading on the Johannesburg Stock Exchange, the largest stock exchange in Africa.

US Dollar (USD)

The US Dollar is the most dominant currency which is traded more often than any other currency in the world, forming part of 88% of all trades.

Nigerian Naira (NGN)

The Nigerian Naira trades at around 396.67 NGN for 1 USD. The Central Bank of Nigeria is solely permitted to issue the Nigerian Naria, and it controls the volume of money which is supplied in the economy to ensure that there is monetary and price stability.

Seychellois Rupee (SCR)

The Seychellois Rupee trades at around 20.91 SCR for 1 USD. The Seychellois Rupee, the official currency of Seychelles, falls among the most traded currencies in Africa. It is divided into 100 cents and referred to as ‘Roupi’ in the local Creole language.

Egyptian Pound (EGP)

The Egyptian Pound trades at around 15.66 EGP for 1 USD. Egypt is a famous Arab nation which has been in existence since the biblical times. Egypt is famous for its pyramids and the Egyptian pound, as the local currency, is one of the most valuable in Africa.

Zambian Kwacha (ZMW)

The Zambian Kwacha…

Read more at finance.yahoo.com

The Indian government may ban cryptocurrencies like bitcoin

Narendra Modi, India’s prime minister, speaks during the virtual United Nations General Assembly on Saturday, Sept. 26, 2020.

Daniel Acker | Bloomberg | Getty Images

India’s government plans to introduce a bill in the country’s lower house that would ban private cryptocurrencies such as bitcoin and create a national cryptocurrency. 

The so-called “Cryptocurrency and Regulation of Official Digital Currency Bill” moves “to create a facilitative framework for creation of the official digital…

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What’s Next for Crypto Regulation

This week, the Treasury Department’s Financial Crimes Enforcement Network, known as FinCEN, extended by 60 days the comment period for proposed reporting rules on digital wallet transactions that it says would prevent money laundering. First announced on Dec. 23, with a 15-day comment period, the move incited outrage in the crypto community. The regulator has twice relented, noting the “robust” engagement that came after what opponents called “midnight rulemaking” by Steven Mnuchin, the secretary of the Treasury at the time.

It showed the crypto industry could force a pivot by a powerful agency. They argue that the proposed disclosure and record-keeping requirements are “arbitrary and unjustified,” as Jack Dorsey of Twitter and Square…

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Tunisia registers Russia’s Sputnik V vaccine, says RDIF

MOSCOW/TUNIS, Jan 30 (Reuters) – Tunisia has become the third country in Africa to register Russia’s Sputnik V vaccine against COVID-19, the Russian Direct Investment Fund (RDIF) said on Saturday.

Tunisian health ministry said the registration would be valid for one year.

To date Sputnik V has been registered in Russia, Belarus, Algeria, Argentina, Bolivia, Serbia, Palestine, Venezuela, Paraguay, Turkmenistan, Hungary, the UAE, Iran and the Republic of Guinea.

Reporting by Anton Zverev and Tarek Amara Writing by Maxim Rodionov Editing by Katya Golubkova

Read more at www.reuters.com

Dutch Bitcoin Exchange Files Preliminary Injunction to Suspend Wallet Verification Rule Enacted by the Netherlands – Exchanges Bitcoin News

A Dutch bitcoin (BTC) exchange has filed a preliminary injunction at a court in Rotterdam to suspend the central bank’s additional wallet-verification requirements. Bitonic seeks to challenge the new rules enacted by the De Nederlandsche Bank (DNB) on Sept. 21, 2020.

Dutch Exchange Argues Additional KYC Rules Lack ‘a Proper Legal Basis’

Per the bitcoin exchange’s announcement, the additional…

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GameStop’s ‘French Revolution’ is a crypto-farce | The Japan Times

The GameStop Corp. short squeeze has been tipped as finance’s “French Revolution” — a middle finger to the establishment by a hive mind of Redditors able to channel cash into the stock market at such pace and scale that expert hedge funds have had to be thrown lifelines. That bored day traders could teach the pros a thing or two is reminiscent of other tales of the wisdom of the crowds — Garry Kasparov’s four-month chess match against the internet in 1999 comes to mind….

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Bitcoin soars 14% after Elon Musk namecheck on Twitter

Bitcoin jumped as much as 14% on Friday to a two-week high after Tesla Inc chief Elon Musk tagged the cryptocurrency in his Twitter biography.

Musk wrote simply “#bitcoin” in his biography on the social media site. The world’s biggest cryptocurrency was up 10.2% at $36,901 as of 10:05 GMT.

The billionaire entrepreneur, followed by 43.8 million users on Twitter, has a record of making market-moving comments on the site.

GameStop Corp, which has been at the center of retail trading frenzy, surged 50% on Tuesday after Musk tweeted “Gamestonk!!,” along with a link to the Reddit Wallstreetbets stock trading discussion group. There, supporters affectionately refer to him as “Papa Musk.”

“Stonks” is a tongue-in-cheek term for stocks widely…

Read more at www.jpost.com

Robinhood pauses instant buying of crypto currencies amid volatility

Jan 29 (Reuters) – Online broker Robinhood, which was criticized by customers after pausing trading in some hot stocks on Thursday, said it had temporarily disabled a feature on its app that allows users to buy crypto securities instantly.

“Due to extraordinary market conditions, we’ve temporarily turned off Instant buying power for crypto. Customers can still use settled funds to buy crypto. We’ll keep monitoring market conditions and communicating with our customers,” a Robinhood spokeswoman said on Friday.

Through the “Instant Buying” feature on Robinhood, customers have instant access to funds from bank deposits and proceeds from stock transactions. Instant Buying is a paid feature that allows users to instantly settle transactions.

Reporting by Anirban Sen in Bengaluru; Editing by Saumyadeb Chakrabarty

Our Standards: The Thomson Reuters Trust Principles.

Read more at www.reuters.com

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