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Crypto

The Brazilian Stock Exchange Will Launch Bitcoin And Ethereum Futures

B3, which is the Brazilian Stock Exchange, confirmed that it plans to introduce its first officially-approved product targeted toward the cryptocurrency market – bitcoin (BTC) Futures Trading within the next six months. The chief financial officer of the group, Andre Milanez, made the announcement in an interview on Monday.

Milanez didn’t provide any specifics on how the product would work. It’s unclear whether B3 will join forces or provide Bitcoin futures trading on its own however the timeline to launch this product was revealed to be quite small. “We are planning to launch bitcoin futures within about three or six months time,” the CEO said.

At the moment, in Brazil, the retail and institutional investors can trade 11 ETFs via B3 that have exposure to cryptocurrency, such as CRPT11, which is from Empiricus along with Vitreo; the NFTS11 from Investor QBTC11, QETH11, and QDFI11 both made by the QR Assets and META11 HASH11, BITH11 and ETHE11 DEFI11 WEB311 and BITH11, all of which are from Hashdex. Additionally, there is Brazil the country has more than 25 funds for investment endorsed by the Securities and Exchange Commission (CVM), which offers various types that offer exposure to the market for crypto-assets.

In January, Jochen Mielke de Lima, the director of the information technology of B3, previously stated that B3’s Brazilian stock exchange would introduce a variety of products that have exposure to cryptocurrency in 2022. These include Bitcoin, the futures market, and Ethereum (ETH) futures

The executive pointed out that the Brazilian exchange has been studying crypto markets from a technology perspective since 2016.

Crypto

Thailand Scraps 15% Crypto Capital Gains Tax Following Public Backlash

In an interesting development, the Thailand Revenue Department has scrapped the 15% capital gains tax imposed on cryptocurrency trading. As there was significant growth in this sector, the government intended to capitalize on the situation, but it received a lot of backlash from investors and the general public.

As of now, the current proposal to tax crypto capital gains at 15% has been scrapped, and a new proposal with revised rates is likely to come up for discussion. As per official guidelines, profits earned from cryptocurrency trading or mining are considered as taxable income.

The Finance Ministry had initially proposed to implement the tax on crypto capital gains from January. However, all the regulations were not clear in this regard as there was still some confusion as to how the tax would be implemented on crypto transactions. One option was to levy the tax on a yearly basis, and the other one was to ask the exchanges to deduct them at the source.

The growth for cryptocurrencies is big in this region, and the government is focused on investor protection measures so that the growth can be sustained in the long run. In the same manner, the government is also looking at issues of money laundering related to cryptocurrencies, and they want to curb such activities with proper regulation. Taxation was also an important agenda considering the growth of the sector, but the rates were very high according to local investors. Due to severe backlash from industry experts, the government has agreed to revise the rates shortly.

Crypto

Google Finance Adds Dedicated ‘crypto’ Tab Featuring Bitcoin, Ether, Litecoin

Cryptocurrency is making a good space in the mainstream gateway. Google Finance has come up with good news for all crypto users. Now, you can get an easy rundown on all the prices prevailing on cryptocurrency in a single click. That sounds amazing! Every crypto price in your knowledge can help you make better decisions.

Thinking about how to find the crypto price option? It’s so simple and available with quick access. When you search out the domain- finance.google.com, you can see an added feature for the prices related to cryptocurrency. For finding the specific section, you can click on the “crypto section” and move ahead to the “compare different markets” option available on the page. Under this comparison, you can easily know about the prevailing markets for currency and traditional stock. It’s not just a single cryptocurrency that pops-up on the crypto page for pricing details. With this access, you can easily know about pricing details for different cryptos like LTC (Litecoin), BTC (Bitcoin), BCH (Bitcoin Cash), and ETH (Ether). All the pricing details for cryptos are under your pocket with Google Finance.

Alphabet (Google’s parent) is also in glam light for owning a blockbuster social platform for videos, namely YouTube. The platform is seen in putting efforts to annoy the bitcoin or other crypto users after taking the steps to ban all the news or education-related content. Most often, the banned content seems to be random.

The two biggest cryptocurrency news-based publications, CoinDesk and Cointelegraph are under the lights of suspension that overturned subsequently. It happened after the platform available for streaming videos showed a confirmation of no-violation to the service terms laid by YouTube.

In the last year, a lot of attention is paid to the market in cryptocurrency and a mainstream focus is paid upon the market due to the investments made by some big corporations. Most institutional corporations and investors showed a deep interest in crypto and even made big investments in cryptocurrencies. With this involvement, a lot of support emerges on the market cap of crypto and making it come at $1 trillion in the past January month. In February, the market cap for crypto might reach a great peak at $1.7 trillion. Presently, the digital cryptocurrency holds a current worth ranging above $1.4 trillion.

In the past three months, a lot of growth is noticed in the adoption of institutional as well as retail interest at a rapid rate. As per Hester Peirce (United States Securities and Exchange Commissioner): “With the top-ranked business firms like MasterCard and Tesla showing a deep interest towards cryptocurrency, it is turning the need to bring up a proper regulation with a clear set of guidelines.” And now, Google Finance has also highlighted the crypto market by adding a tab with “crypto” pricing details featured for all the users.

With the heated movement in the market of bulls, there’s a higher chance for digital cryptos straightforward guideline calls to emerge out loud. Peirce came up with a statement that the new administration run by Biden might showcase light towards a fresh regulatory structure and improvised aspects.

Crypto

Bitcoin Could Rally Further As Tesla Leads Corporates On Treasury Investments

With the high increase in the price of Bitcoins, the bull run of bitcoin seems to intensify. The market also anticipated a pick up. This is all because of the high corporate demand for bitcoin. After Tesla’s major investment in the cryptocurrency, the demand for bitcoin has intensified to an all-time high.

As per a trader and analyst named Alex Kruger, prices for bitcoins can fly very high. In addition to this, he also expects some other heavyweight businesses to follow the suit.

On Monday, Tesla disclosed that they have made a $1.5 billion heavy investment in Bitcoins. The comment by Tesla also signalled at an openness towards acquiring more digital assets in the future. The new investment by Tesla has kicked the bitcoin market to an all-new level of overdrive.

Bitcoin has also witnessed a record single-day spike in terms of dollar. It rose by almost $8000 and acquired a new high of almost $46000. All these data are provided by Coindesk.

In addition to Tesla, many other listed companies like the MIcroStrategy have also adopted bitcoin as a treasury asset in the last few months. The recent investment move by Tesla is notable and it is among the first Fortune 500 companies that has diversified its cash holdings into cryptocurrency.

Although the actual investment amount isn’t too large. But, many investors as well as analysts are predicting that many market-leading companies will also make investments and it will have a spiral effect on the prices of the currency.

As per the theory of “reflexivity” this is a positive feedback loop between the expectation and the economic fundamentals. Investment by Tesla in bitcoins many have validated many narratives by people that said that Bitcoin can act as a reserve asset. With this amazing move by Tesla, many new buyers will also join the marker and it will have an upward pressure on the price of bitcoins.

Market is now expecting that other corporations will also follow Tesla and MicroStrategy’s strategy. Many people believe that tides are in favor of Bitcoins at the present moment and it could become the next wave in the corporate book.

Investors interest in call options has also increased. This is an indication of investors positioning themselves for a continuous rise in the price. So, the new investment by Tesla in bitcoins is the biggest news we have received for the month and it can be said that Bitcoin certainly has an amazing future in upcoming days.

Crypto

Check Immediate Edge This Morning

Online trading is the best option to buy and sell cryptocurrencies, assets, and other currencies, and online trading is famous for the exchange of different investments. Online trading enables people buying or selling shares through an online platform. There are various online trading platforms available: computer software programs that can be used to buy and sell financial products over an intermediary financial network.

About immediate edge

Immediate edge is one of the online trading platforms founded in 2009 that traders can use to buy and sell cryptocurrency with ease. Here users can buy or sell orders through the internet, where a wide variety of assets can be traded. One must begin the day with immediate edge this morning knowing the trading market conditions.

Features of immediate edge

Immediate edge is the best online trading platform for all beginners, intermediate and advanced users. Indeed the best platform for beginners to learn about online trading fundamentals and have a good start. Advanced users save time to analyse and search for market opportunities. There are many good points about the immediate edge, which makes it the best online trading platform.

  • The app doesn’t have any hidden fees like registration fees, maintenance fees, etc., and is also secured and transparent.
  • Provides a 24/7 customer support system and withdrawal process in 24 hours.
  • It uses advanced AI technology, which helps study market data, analyzes it, and gives the best trading opportunities.
  • Immediate edge is a software application with several devices that make it easy to access the account from anywhere. Users can access their accounts with any device that has a stable internet connection and browser.
  • It also provides an automatic trading process option that helps execute all the trading processes and uses needs to check regular updates. There are setup options with which provide notifications based on the customers’ requirements.
  • The platform doesn’t take any percentage from the withdrawal process. All the money earned from the immediate edge belongs to its earners, and the company won’t take any fees for it. But there might be some fees based on the bank institutions the user uses.
  • The app provides a wide variety of asset trading options where any financial asset can be traded easily. Users can trade different kinds of assets with just a few minutes of set up in the app.

The Immediate Edge is application software that provides the applied form for its users to trade their assets more smoothly and fluently. Online trading may not be easy for everyone, but these platforms offer an easier way of understanding trading and trading efficiently. This application provides users with an easy-to-understand setup process and study market data to find the best trading opportunity. It also uses advanced AI technology, which helps them trade on their behalf if the user wants. It provides notifications about all the trading opportunities.

bitcoin
Crypto

Jpmorgan: Bitcoin Is ‘Overbought’ But Will Suck Money Out Of Gold

The Internet is common to use in every person, and most people use digital currency to buy or for transactions. Cryptocurrency even becomes the medium for salary payment in some countries. Bitcoin is a digital currency type where each Bitcoin is computerized data file stored in digital wallets. Cryptocurrency is developed using blockchain technology where such currency only exists virtually. Each unit consists of a set of data, and every single transaction of this currency is recorded in computerized data files called ledgers.

Blockchain technology uses a decentralized mechanism where no authority or third party involvement is needed during transactions or trading and is non-reputable. Bitcoin prices are reaching great heights nowadays, and cryptocurrency developers do their best to level up security and safety, attracting more potential crypto users. Institutional investors are paying more interest in investments in buying crypto. From recent news at yahoo.com, most of the institutional investors hold a cryptocurrency. People are paying attention due to profits accumulated by cryptocurrency traders. Bitcoins are bought on a large scale during these months stated

bitcoin

Overbuying bitcoin

According to JP Morgan. Many people are buying Bitcoins, and the Bitcoin price rises. And according to Coin telegram reports, reasons for the price rise include institutional investors who bought Bitcoin through off-exchange trading. This leads to a lack of supply availability, and this crisis is being known as a liquidity crisis.

People are buying cryptocurrency on a large scale, leading to a speedup of Bitcoin price rise unlimitedly. And over scale buyers need to keep up the pace to avoid the losses. To avoid the price drop, institutional investors need to keep up the buying. And this also pushes the prices of Bitcoin to a new level.

Analysts claim

According to a grayscale report, crypto assets have reached $13.1 billion under management. This becomes a concern of inflow size where it is” too big to allow any position and winding by momentum traders to create sustained to price dynamic.” Despite this situation, people still buy Bitcoin. Even though the current price levels of Bitcoin are approximating $24,000, it’s still overbought hair spa, the relative strength index that rises above 70.

As the Bitcoin price is rising, gold is losing its place. According to recent findings, new trends are formed by grayscale where exposure to Bitcoin can involve one unit buying of greyscale three units of SPDR gold trust. If this goes on, the gold price can n push down by Bitcoin from the structural flow headwind during the upcoming years.

Due to Bitcoin price rail up to great heights, the mutual relation between gold and Bitcoin decreases. If this goes on, the price rate of gold will have the problem of recovery point. As per the previous suggestions after insurance sent Mars mutual revealed $100 million allocations, it is said that with $600 billion cash investment from institutional investors can benefit Bitcoin to rise. But now, gold is losing its place due to investments in Bitcoin. To keep up the price rise of Bitcoin, institutional investors buying cryptocurrency through trades leads to unavailability of supply and affecting gold price.

Impact on gold vs. bitcoin

If this goes on, the balance between Bitcoin and gold will be affected dramatically and affect gold recovery. Investments in Bitcoin are increasing due to the rise of Bitcoin price, and many people are participating in such trades to acquire profits, as the cost of Bitcoin is rising to new all-time highs. Many Bitcoin trading platforms are inactive state due to the rise of Bitcoin price. News reported that institutional investors might be trying to push up the price of Bitcoin by investing in it. Thus by doing this, there won’t be any negative drop off its price.

Conclusion

Crypto trading becomes a trend nowadays, and many people are investing in it to gain profits. Institutional investors like banks, funding companies who can purchase their targeted properties or assets paying attention for the past few days, and now they are buying Bitcoins on a large scale as recently. Bitcoin price has been rising, .and to keep that pace, institutional buying it continuously through off-exchange trading to the point that its availability is lacking. The continuous rising of Bitcoin prices leads to problems such as affecting gold.  Recent news states that the correlation between Bitcoin and gold has decreased significantly. This over-buying is leading to a liquidity crisis, which will only point up with time. Also, the analyst claims that this cycle could fuel up Bitcoin to an unlimited level. The gold prices will decrease and reach the point where it affects its recovery, and it would suffer in upcoming years. Currently increasing Bitcoin price the correlation between gold and Bitcoin, and it might decrease overly is it continuous at this pace.

 

Crypto

The Emergence Of Cryptocurrency Hedge Funds

The opportunities and the potential of digital assets are immense, especially cryptocurrency. They are the future of digital assets and can transform it altogether. Let’s take a better look at this area.

One of the most popular and recent developments should be the crypto hedge funds. Why? This is because, in the conventional crypto funds, there were just private traders and investors. With the emergence of crypto hedge funds,  there is a significant rise in the number of professionals in this market, which is surely commendable. According to the data published this year, 63% were launched in 2018 and 2019.

Proved efficiency

Based on the PwC-Elwood Crypto Hedge Fund’s recent reports, one of the most common and well-known crypto hedge fund strategies is quantitative, which is about 48% of the funds. Discretionary long-only for 19% and discretionary long/short for 17%, and multi-strategy for 17% follows the list.

Another fact based on the annual PwC–Elwood Crypto Hedge Fund Report, the most common crypto hedge fund strategy, is quantitative (48% of funds). It is followed by discretionary long-only (19%), discretionary long/short (17%), and multi-strategy (17%). And according to them, crypto hedge funds are indeed one of the best options out there as digital assets. They have the potential to supply sustainable income.

The future is Crypto Hedge Funds

The majority of the people investing in such an arena are either family offices or individuals with a high net worth. This market is evolving in a pretty significant way and will surely boom in the next few years for the very right reasons.

Based on the sources, the assets of crypto hedge funds have doubled from $22 million to $44 million in just a matter of a year. Isn’t this fascinating? People are ditching their old methods and gradually switching to the new digital means of investing. The former CEO of Prudential Securities also suggested that Bitcoin and other cryptocurrencies are indeed safe options.

In the month of May 2020, Bitcoin had an ideal inflammation, and investors clearly see the potential in the hedge funds. They are potent enough to be a significant part of the additional inflow of capital in their world of investment.

Increase in investor demand

With the transparency and the clarity that regulated crypto hedge funds provides in the market, there is a prominent growth among the investors. As mentioned before, the digits have been doubled by a year. There is a precise prediction that the number might triple by the end of 2020, which is undoubtedly a considerable feat. Compared to the other assets, these are a small sum, but this industry’s growth is insane!

With such growth, bitcoin is surely becoming the digital store of value. The recent hedge inflation indicates that the demand from investors is increasing with every passing day.

Conclusion

The options and prospects of Cryptocurrency hedge funds are immense. Thus, by now, it is pretty evident why cryptocurrency hedge funds are undoubtedly a great deal. Investors are gradually understanding its worth and have started to invest in them. Suppose you are a budding investor and are clearly thinking about investing. In that case, this should be your first choice right now since the old ones are surely outdated, and the new digital assets have clearly taken their place.

Crypto

Philippines Launches Bond Distribution Platform On Blockchain

In a major step by the Philippines Bureau of Treasury (BTr), they have announced their partnership with the Union Bank of the Philippines and also the Philippine Digital Asset Exchange or PDAX to launch a new app known as Bonds. This new app will be a decentralized ledger technology platform allowing the government to distribute retail treasury bonds. Using the platform, the investors will be able to purchase retail treasury bonds for a minimum of 5,000 Philippine pesos or approximately $100. They will accept payments through multiple options such as online banking, e-wallets, and over-the-counter. The treasury will issue bonds worth 192.7 billion Philippine pesos ($3.9 billion) through the app in the coming months.

After the announcement, Rosalia V. De Leon, the Philippine National Treasurer, issued a statement stating that the new app Bonds will provide an opportunity to Filipinos to invest in new and the latest retail treasury bonds such as RTB-24 and the Progreso Bonds. She further added that the app would increase investment opportunities and allow the Republic to aid in their response to COVID-19 and help in economic recovery.  The new platform will document the transactions in DLT infrastructure along with the legacy centralized system. Edwin R. Bautista, the CEO and the UnionBank President claimed that this is one of the first such DLT-based systems for retail Treasury bond distribution in Asia and around the world. He claimed that the Philippines were ready to use innovation and technology to enhance opportunities and benefit its people.

According to a recent survey, about 77% of Philippines adults still do not have a bank account. Thus, the new platform is designed to allow such residents to invest their money without a bank account. Thus, Bonds form an important platform to bring investment opportunities to the unbanked population in the Philippines. The new app will run on technology allowing the Bureau of Treasury to reduce costs and the time necessary for manual verification and settlement. The Bureau expects the platform to make the bond distribution process easy and economically viable for all parties involved. Even though the app might be targeting unbanked Filipinos, the drive will also help raise the much-needed fund for the government.

Bonds – the new bond issuance platform, is receiving the support of national and international regulators such as the Philippine Securities and Exchange Commission, the Singaporean market regulator, and many other fintech and blockchain establishments. The spokesperson for MAS, Sopnendu Mohanty, said that Singapore’s blockchain community would be happy to work alongside Philippines and share open-source resources, learning and help connect nodes to integrate the ensure market infrastructure to bring in transparency. UnionBank also launched Stablecoin last July to help increase financial inclusion in the Philippines. The COVID-19 pandemic has led to an increased usage of banks’ digital services, and it could easily lead to the end of cash in the coming years.

Crypto

Europe Has a New Cannabidiol ‘Seed-to-Shelf’ Blockchain Tracking Tool

The users of Cannabidiol in Europe can now rejoice about the fact that they can trace the plant’s journey from plantation to retail stores. It would help the users to monitor the quality of the product closely. It would now be made possible through a blockchain tool named “CanCheck,” which was recently announced by the Cannabinoid Association of the Netherlands (CAN). The association made the announcement on August 6, and the tool would be available for free for the Cannabidiol users to trace the CBD products online for free.

Hempflax, which is one of the largest growers and processors of Hemp products in the European Union, and who is also one of the founding members of the association, would be the first company to offer its product for online tracing in the EU. The CEO of the blockchain company, Mark Reinders, said that the traceability of CBD products from seed to shelf would help protect the customers in their search for quality products. The customers can check the age, origin, quality, and other parameters related to CBD products before going ahead to purchase it.

However, CBD organizations in Europe are not the first to introduce the seed-to-shelf concept. StrainSecure, a North American blockchain-based cannabis tracker, also announced recently that it would be validating medical cannabis products based on their DNAs. In Canada, cannabis is available as well as legal for both medicinal as well as recreational purposes. In the United States, however, the rules and regulations on cannabis products vary from state to state. The discussion on the pan-American removal of the ban on Cannabis products is still underway, and the users hope it would soon be a reality.

Uruguay was the first country globally to legalize the production and sale of Cannabis products. It is also the first country in the world to use the blockchain technology to build an integrated supply chain tracker for Cannabis products. Recently, many of the dispensaries in the United States, where selling cannabis is legal to have started accepting Bitcoin Cash. Recently, the member of the Berkeley City Council, Ben Barlett, purchased Cannabis by using Bitcoin Cash and Stablecoin Universal Dollar (UPUS).

The trend of acceptance of cryptocurrencies in cannabis retail stores is not surprising. It is primarily because cryptocurrencies are regarded as highly and well-accepted in the cannabis world. The developers are working on many other methods to use the blockchain technology at various stages in cannabis plantation to production.

Crypto

Russian Cybercrime Surged 25x in 5 Years, Says Local AG

Russia’s top government lawyer laments and warns of the country’s burgeoning rate of cyber-crime. Records indicate that the nation had been seeing twenty-five times more virtual crimes over the last few years. The lawyer acknowledged this fact and other relevant topics in an official gathering held earlier this month according to the event records. As technology spreads over more and more minutiae of an average person’s daily life and connects every dot of commerce and capitals, cyber-crime has evolved simultaneously and has become a significant threat to many big nations.

Lower rate of Resolutions:

Matters become worse as with the growing numbers of crimes recorded, the rate of resolving such crimes is decreasing further down. These different tracks have widened the number of pending cases, and thus many victims remain hopelessly waiting for their matters to get sorted out. Their resources are returned. Aside from necessary stealing, cyber-crimes are being committed in even more distressing arenas such as terrorism funding, cocaine, and other substance abuse smuggling and commercial data-tampering. Authorities advise updating the existing outdated modes of tracking virtual illegalities while investing in more robust and self-serving technologies that would fine-tune the department’s approach in rooting out such corruption.

How Does Crypto-Currency Fit into this?

The same benefits and qualities of crypto-currency that had revolutionized the financial industry and trading have now become the bane authorities cautioned it would. Due to the universal nature of the currency, high-level security and anonymity, and lack of regulation by a governing body, crypto-currency has become a favorite among cyber-criminals to conduct their illegal businesses. To think crypto-currency, in one avenue, is helping struggling workers to break the glass ceiling and enjoy a life that they could never get otherwise is simultaneous, in another aspect, is the cause of heinous crimes such as terrorism and human trafficking. One’s heart sinks, and the mind boggles.

Even though many, in Russia, have tried to become stringent in such grave matters and decided to move the judiciary to deal with crypto-currencies with a more laborious hand, their caution has not been mirrored in court decisions as they remain unclear and undetermined. Crypto-currency may have to witness a battle for its soul as the country decides what to do on the matter. While completely wiping its existence isn’t ideal, certain well-designed restrictions may be worth some small sacrifices by the crypto-currency economy.