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The Maduro regime is collecting aviation taxes, and soon refuelling bills, using Bitcoin transfers, say local media. Venezuela is reportedly choosing to use Bitcoin (BTC), not its own digital currency Petro, to circumvent United States sanctions in airports. According to a report in local news media outlet ABC on July 22, president Nicolas Maduro has authorized the use of an app which collects aeronautical taxes, and then their conversion to Bitcoin. The app, Jet Man Pay, is ironically of U.S. origin, with Venezuela converting the BTC funds via partners in countries such as China, Russia and Hungary. The funds are then deposited as fiat dollars in government-controlled bank accounts in those countries. According to ABC, the design for the process came about over a year ago, and constitutes a unique method by which Maduro can avoid sanctions. Now, he plans to expand the aviation tax collection scheme to other airports beyond that of the capital, Caracas, and will shortly sign an agreem..
John McAfee appears to have been released following arrest and detainment in the Dominican Republic, where police seized high-calibre weapons from his yacht. Cryptocurrency enthusiast and antivirus software namesake John McAfee appears to have been released by authorities in the Dominican Republic today. McAfee posted a picture on his official Twitter account with the caption: “Leaving detention (don't judge my looks - four days of confinement). I was well treated. My superiors were friendly and helpful. In spite of the helpful circumstances, we've decided to move on. More later.” On July 23, a post was made on McAfee’s twitter account, allegedly by McAfee’s campaign manager Rob Benedicto Pacifico Juan Maria Loggia-Ramirez, saying that McAfee and his boat crew had likely been detained. McAfee announced that Loggia-Ramirez would be his presidential campaign manager in October 2018. A report by the Associated Press appears to have confirmed Loggia-Ramirez’s suspicion. Accordi..
LVC Corporation is allegedly close to obtaining an FSA-issued crypto exchange operating license. LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant Line, is allegedly close to obtaining a crypto exchange operating license from Japan’s financial regulator. The news was reported by Cointelegraph Japan on June 20. According to the report, Japan’s Financial Services Agency (FSA) could issue the company with an exchange license as early as this month. The trading service, to be dubbed BitMax, would enable Line’s 80 million users in Japan to buy and sell multiple major cryptocurrencies, as well as Line’s native token Link, CT Japan notes. Per a press release recently shared with Cointelegraph, Line counts 187 million global users monthly, with an estimated 50 million users registered its mobile payment service, Line Pay. BitMax will reportedly use the same back-end infrastructure as the Singapore-based, global user-focused crypto exchange BitBox, whic..
CNBC has collected public details on high-level executives for Facebook’s cryptocurrency project via LinkedIn. More details are now emerging regarding high-level executives for social media giant Facebook’s crypto project, according to a report by CNBC on June 6. According to the report, there are now 100 people known to be working on the crypto project via profiles on professional networking platform LinkedIn. Facebook is also reportedly not done hiring, with over 40 openings still available in the team’s business unit, as per its website listing. The aim of Facebook’s new crypto project, according to advertising on its career descriptions, is to provide a public service centered on accessibility: “Our ultimate goal is to help billions of people with access to things they don’t have now — that could be things like healthcare, equitable financial services, or new ways to save or share information.” The head of Facebook’s blockchain-based project is David Marcus. Marcus served on the b..
Leading cryptocurrency exchange Binance will reportedly issue its own stablecoins within two months. Leading cryptocurrency exchange Binance will reportedly issue its own stablecoins within two months, Bloomberg reported on June 5. Binance’s Chief Financial Officer, Wei Zhou told Bloomberg that the exchange will start issuing its own stablecoins “in a matter of weeks to a month or two," with the goal to make stablecoins available for more of the world’s currencies. The exchange’s first stablecoin dubbed “Binance GBP” will reportedly be denominated in and 100% pegged to the British pound. Zhou also revealed that Binance will make money off of interest on fiat deposits, like tether (USDT) does. Apart from Binance GBP, Binance is reportedly planning to introduce an array of other stablecoins backed by other currencies, with the exception of the U.S. dollar. Explaining the company’s decision, Zhou said that "from the users’ perspective, only certain portions of the world use the dollar. O..
As executives keep quiet on the move, a competitor suspended fees for cash meetups, accusing LocalBitcoins of participating in the “war on cash.” Finnish P2P bitcoin (BTC) trading platform LocalBitcoins has kept silent after users reported it had removed cash trading from its service on June 1. LocalBitcoins, which allows users to trade BTC for fiat currency privately, purportedly cut the option for in-person meetups to trade crypto for cash, angering social media commentators. “It’s time to no longer recommend LocalBitcoins, EVER,” the top response to the original Reddit report reads. Executives from the company have so far refrained from publicly commenting on the move, which follows a slow process of Anti-Money Laundering (AML) and Know Your Customer (KYC) implementation. As Cointelegraph reported, LocalBitcoins halted anonymous trading in April 2018, requiring high-volume account holders to identify themselves before conducting further business. Based in Helsinki, the company repo..
Digital currency investment firm Dadiani Syndicate has reportedly been approached by a wealthy client to buy as close to 25% of the bitcoin supply as possible. Digital currency investment firm Dadiani Syndicate has reportedly been approached by a wealthy client to buy as close to 25% of the bitcoin (BTC) supply as possible, Forbes reported on May 30. The Dadiani Syndicate is a peer-to-peer network where people trade between each other with cryptocurrency. The firm made news last year when it put 49% of Andy Warhol’s 1980 work "14 Small Electric Chairs" up for sale for bitcoin and other digital currencies. The firm’s founder Eleesa Dadiani reportedly claimed: "One of our clients approached us and said they were interested in acquiring 25% of all bitcoin currently available. There are a number of entities who want to dominate the market." Dadiani said that acquiring a quarter of the current 17.7 million BTC supply — considering that many coins have been permanently lost — would not be p..
Budget smartphones released by South Korean consumer electronics giant Samsung will reportedly feature crypto and blockchain features. Budget smartphones released by South Korean consumer electronics giant Samsung will reportedly feature cryptocurrency and blockchain features, local English-language local media Business Korea reports on May 14. Per the report, the crypto and blockchain-related functionality included in the Samsung S10 will be included in other Galaxy smartphone models. The electronics producer also reportedly plans to cooperate with telecommunications companies on blockchain-based mobile identification cards and local currencies. Chae Won-Cheol, senior managing director of the product strategy team at Samsung Electronics' Wireless Business Division, reportedly said: “We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the Unite..
South Korean electronics giant Samsung might become the next multinational conglomerate to issue its own cryptocurrency token. Samsung is another big-name company to consider issuing its own cryptocurrency. Similar stories have already emanated from the likes of Facebook and JPMorgan Chase, with analysts speculating on various use cases for these cryptocurrency tokens. While not yet confirmed officially, a “Samsung Coin” could find application as a payment means on the company’s app store and traded on cryptocurrency exchanges. The company has revealed that its flagship Galaxy S10 smartphone will have a built-in cryptocurrency wallet. With these mega-corporations delving into the blockchain scene, it is perhaps important to see how their virtual currency implementation compares with each other and the rest of the virtual currency ecosystem. Samsung readies new ETH-based blockchain mainnet and cryptocurrency tokenOn Wednesday (April 24, 2019), an inside source within Samsung revealed t..
The failure of the conventional financial system is often seen as the ideal springboard for widespread cryptocurrency adoption. The idea is simple. If bitcoin [BTC] and other cryptocurrencies are truly the future of money, then money, as we know it now, is faced with the threat of an imminent doom which will usher in the era of cryptos. In bitcoin BTC news today, the International Monetary Fund (IMF) has reportedly declared war on fiat currency through a new policy that could reduce the value of fiat savings making it illogical to save money in fiat currencies. Put side by side with the suggestion by IMF boss that cryptocurrencies will determine future savings, one can only imagine a grand plan to dethrone central bank-controlled fiat and enthrone decentralized bitcoin (BTC). This could boost BTC price and affect bitcoin price prediction 2019 and beyond. IMF Warns against Fiat Savings Due to Negative Interest Rates Proposals – BTC News today The International Monetary Fund (IMF) has r..