Payments giant Mastercard has launched a new, global program for cryptocurrency startups. Seven crypto companies have already joined the program. Together with Mastercard, they will work to “expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets.”
Sunday’s price rise follows an unconfirmed report Amazon is looking to accept bitcoin payments by year’s end.
Bitcoin briefly traded above $39,000 for the first time since June 16 and is currently trading its sixth consecutive day in the green.
Prices have continued to rally since July 21 with Sunday’s current price rise representing the largest single daily gain in over six weeks. The world’s oldest crypto is changing hands for around $38,250, having cooled slightly after hitting a monthly high of around $39,850.
Datamish data show a short squeeze appears to have driven prices higher as those betting on…
Spacex and Tesla CEO Elon Musk has revealed that he personally owns bitcoin, ethereum, and dogecoin. Meanwhile, his companies, Spacex and Tesla, own bitcoin. He also said that bitcoin’s energy usage “is shifting a lot more toward renewables,” and Tesla will likely resume accepting the cryptocurrency after he does more due diligence.
The Bitcoin event “B Word,” which took place Wednesday, featured a live discussion with Tesla and SpaceX CEO Elon musk, Square and Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood. The discussion was moderated by Steve Lee, head of Square Crypto.
Responding to the question of…
Payments giant Mastercard has announced that its crypto card program is being enhanced for cryptocurrency wallets and exchanges. The company said, “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with cryptocurrency.”
Mastercard announced Tuesday that “it will enhance its card program for cryptocurrency wallets and exchanges,” making it “simpler for partners to convert cryptocurrency to traditional fiat currency.” The company elaborated:
Mastercard and its partners will test this new capability to enable more banks and crypto companies to offer a card option to people wanting to spend…
Clients are in the process of being set up, with some already live, according to one of two sources.
Bank of America, the second-largest bank in the U.S., has approved the trading of bitcoin (BTC, -0.92%) futures for some clients, according to two people with knowledge of the matter who spoke on condition of anonymity.
Like most institutions, the bank has been conservative in its approach to the crypto sector, but due to the large amount of margin required to trade the futures, it is now allowing some clients to access the crypto market, one of the sources said. …
With government officials trying to clean up the image of China prior to the start of the Winter Games, miners are leaving in droves and media group Bishijie has been forced to close down.
It has now been two months since the crypto crackdown and subsequent enforcement began. Most new stories are now just the trickling down of earlier national policies being enforced at a provincial level. The latest example was from the Anhui provincial government, as it announced a set of measures to reduce energy consumption, with cryptocurrency mining listed among the culprits. Anhui is a small province east…
“We are very excited to offer German clients who wish to add Bitcoin and other crypto assets to their savings plan a compelling option to do so thanks to comdirect,” said Hany Rashwan, CEO of 21Shares.
Investment product issuer 21Shares has joined forces with comdirect, a leading online brokerage in Germany, to bring its cryptocurrency exchange-traded products, or ETPs, to savings accounts.
The partnership means that comdirect’s nearly 3 million customers will be able to integrate physically-backed crypto ETPs into their Spar savings accounts. …
The U.S. Internal Revenue Service appears to be blinded by its own enthusiasm on crypto taxation, instead creating an excessive financial burden.
The United States Internal Revenue Service (IRS) stretches the tax rules to fit its cryptocurrency agenda. At no time in tax history has pure creation been a taxable event. Yet, the IRS seeks to tax new tokens as income at the time they are created. This is an infringement on traditional tax principles and problematic for several reasons.
In 2014, the IRS stated in an FAQ within IRS Notice 2014–21 that mining activities would result in taxable gross…
More than half of Salvadorans surveyed don’t seem as keen as their president to adopt Bitcoin.
According to a newly released survey, up to three-quarters of Salvadorans are skeptical over President Nayib Bukele’s Bitcoin adoption plans.
The survey, which polled 1,233 people across El Salvador between July 1 and 4, revealed that only 20% approved of the plan to make Bitcoin legal tender
The survey, which has a margin of error of 2.8%, was conducted by researcher Disruptiva, which is affiliated with Francisco Gavidia University. …
Analysts believe reporting requirements may compel Tesla to announce a paper-drawdown of between $25 million and $100 million on its $1.5 billion Bitcoin bet.
Bitcoin’s second-quarter price battering has pundits speculating that Tesla may have to report a loss of up to $100 million for Q2.
With the price of Bitcoin recently dropping to revisit levels last seen in January, CNBC business analyst Kate Rooney asserted on July 6 that Tesla may face an “impairment charge” — requiring it to report the drawdown in a disclosure to the U.S. Securities and Exchange Commission (SEC).
She noted that as Tesla first…