Category: NFT Investment

Categories
Bitcoin Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

Cash App Offers Payments in Bitcoin, BTC Roundup and Lightning Network Services

At the Bitcoin 2022 conference in Miami, Block, Inc., formerly Square, Inc., announced three new bitcoin services for the company’s mobile payment platform. The Cash App mobile payment platform will feature a “bitcoin payment” service that allows users to automatically invest their work payment in bitcoin.

Cash App adds 3 new Bitcoin services

Jack Dorsey’s Block announced in Miami that the Cash App mobile payment system will offer three new features. The San Francisco company explained that the first feature will be a “bitcoin payment” service that allows people to convert their payment into bitcoin (BTC).

Cash App users will be able to convert 1% or even 100% of their payroll into the main crypto asset. The Block, who also runs Spiral, TIDAL and TBD, explained at the conference that the team has been working on the idea since 2019.

The next service the company unveiled was a bitcoin rounding service that basically allows Cash App users to round up change for bitcoin (BTC) purchases. Essentially, transactions from the user’s Cash App card will round up purchases and automatically transfer the change to the user’s BTC wallet.

Block is not the first company to introduce bitcoin payment services or BTC rounding services, as the concepts have been around for some time. For example, people can also leverage Coinbase or Bitwage to receive cryptocurrency payments, and Bundil and Roundlyx offer round-up BTC products.

The third Cash App feature announced at the Miami Bitcoin conference was “Lightning Network (LN) Reception” with a seamless Bitcoin user experience. Bitcoin UX will leverage unified QR codes using the Bitcoin BIP 21 improvement proposal.

The QR code can combine Lightning Network invoices and on-chain information to make the process easier for Cash App users. The Cash App has already enabled LN payments since its introduction in January, but now users can take advantage of receiving unified QR codes to accept LN payments directly. The Cash App move follows Atlanta-based payment processor Bitpay, which announced support for LN on Wednesday.

Recent breach leaves 8 million Cash app customers exposed

Cash App news follows the company’s troubles with a former employee causing a massive data breach. Reports show that 8 million Cash App users were affected as the former employee was accused of downloading information linked to customers in December.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Crypto Mining Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

MasterCard to incubate NFT-focused startups bitsCrunch through its “Start Path” startup engagement program

bitsCrunch, the India and Germany-based blockchain analytics company that uses artificial intelligence (AI) and machine learning (ML) to secure and secure the NFT ecosystem, has revealed that it has been selected to participate in the pledge program. MasterCard called The MasterCard Home Path.

Designed to help post-escalation startups, the Start Path Program offers an extended suite of products that help startups reach a global consumer base. With MasterCard rapidly expanding into the cryptocurrency ecosystem, the Start Path program focuses beyond payment solutions, covering diverse areas such as fintech, blockchain, e-commerce, AI, fraud prevention, financial inclusion and more.

In the Start Path program, all selected projects gain full access to MasterCard’s ready-to-integrate fintech APIs, tools and solutions, as well as the opportunity to present their ideas to MasterCard’s global network of consumers, merchants and partners.

According to Vijay Pravin Maharajan, CEO of bitsCrunch, “With advanced technology tools, an incredible team and industry experience, bitsCrunch ensures consistent quality and security in digital asset startups. Collaborating with MasterCard Start Path helps us provide best-in-class solutions for emerging customers in the cryptocurrency industry and transform business landscapes. In addition, we are pleased that bitsCrunch will be joining the MasterCard Start Path program soon.”

BitCrunch’s main goals align with MasterCard’s goals of fraud prevention, financial inclusion and several other areas. BitCrunch currently offers a wide range of products, each designed to address the persistent challenges of the NFT ecosystem, including laundering trading, counterfeiting, and inefficient asset valuation, among others. By leveraging MasterCard’s infrastructure and global reach, bitsCrunch will be able to further expand its presence in the mainstream economy.

At the same time, MasterCard can leverage bitsCrunch to give its users direct access to the NFT ecosystem. The platform’s range of products will help non-crypto MasterCard users easily find, value and invest in NFTs and other digital assets. Using bitsCrunch’s trio of NFT security services (Scour, Liquify and Crunch DaVinci) along with its fast, accurate and reliable analytics services, MasterCard can ensure its global customers can make well-informed business decisions across a wide range of asset.

bitsCrunch analytics products and services run on some of today’s top blockchain ecosystems, including Ethereum, Avalanche, Polkadot, and Polygon. The platform recently raised $3.6 million from leading investment firms like Polygon Studios, Coinbase Ventures, Crypto.com Capital, Spark Digital, Bison Funds and Gravity X, to name a few. According to the bitsCrunch team’s tweet, these funds will help secure a presence on other prominent blockchains like Algorand, Solana, and others.

Emphasizing the need for credibility for widespread adoption of digital assets, a spokesperson for the MasterCard Start Path Program team notes, “With MasterCard, startups around the world can build platforms on open banking, predictive finance models for small businesses, more. Partnering with bitsCrunch allows companies to access MasterCard’s global ecosystem and reach new audiences through MasterCard customers. The collaboration will provide safe and secure transactions, which will increase brand credibility.”

Categories
Bitcoin Bitcoin Investment Bitcoin Wallet Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

Coinbase to Sign Spree Amid New Push to Expand in Indian Market

Leading US crypto exchange Coinbase is making a new push to expand its presence in India with plans for a major signing wave.

In a new blog post, CEO Brian Armstrong points out how Coinbase Ventures, the company’s venture capital arm, has already invested $150 million in Indian tech companies in the cryptocurrency and web3 space.

Now the exchange plans to quadruple its presence in the country, adding 1,000 new full-time employees to its current headcount of 300.

Armstrong says,

“Coinbase’s Indian tech hub was launched last year and already has more than 300 full-time employees across the state and regions of India. We are excited to harness the dynamic talent of Indian software to develop our products and will continue to invest heavily in our hub in India. We have ambitious plans for India and are looking to hire over 1,000 people at our India hub this year alone.”

In a blog post in February, Nana Murugesan, Vice President of International and Business Development at Coinbase, announced the company’s plans for rapid global expansion.

As part of Coinbase’s plans to establish itself in India, the exchange has made investments in cryptocurrency platforms CoinSwitch Kuber and CoinDCX. Murugesan also listed the top three markets Coinbase had its eye on expanding into.

“An important first step in our strategy is recruiting experienced regional and country leaders from around the world. We are now embarking on a broad global expansion strategy, with hiring and investment plans to enter these markets, which will allow Coinbase to serve customers more locally:

Americas — Latin America, Canada

EMEA: Europe, Middle East and North Africa, Sub-Saharan Africa

APAC — South Asia, Southeast Asia and Oceania, North and East Asia”
Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

Japan Central Bank Wants Urgent Crypto Regulation, Warns Global Settlement System Could Be Overthrown

A senior Bank of Japan (BoJ) official said the group of 7 nations urgently needs a common framework to regulate cryptocurrencies before they “destroy” the global settlement system.

One of the main reasons given for this was the possibility that Russia used cryptocurrencies to avoid the sanctions that were imposed on it after the invasion of Ukraine.

According to a Reuters report, the BoJ believes that the cryptocurrency is under the spotlight due to the conflict between Russia and Ukraine and that a loophole could be created that would allow Russia to avoid international sanctions by using it.

In fact, Kazushige Kamiyama, head of the BOJ’s Payment and Settlement Systems Department, says it would not be difficult to create an individual global settlement system using stablecoins, which could include the yen, the US dollar or the euro.

Kamiyama urges the group of seven advanced economies to move quickly to update current rules that will take digital currencies into account. kamiyama said:

“The G7 nations are now working together on this front, while sharing information on current developments,”

However, Kamiyama’s comments run counter to expert opinion on Russia’s ability to use cryptocurrencies with any degree of success. The Financial Crimes Enforcement Network (FinCEN) stated that the use of cryptocurrencies by the Russian government was “not necessarily practicable.”

It can probably be said that the BoJ is much more interested in designing and rolling out its own central bank digital currency (CBDC). Any development in crypto regulation could have knock-on effects for a central bank digital yen.

Kamiyama noted that the BoJ was keen to keep up with developments and did not want to be left behind.

“Given the number of advanced nation central banks collectively, dramatically and simultaneously moving into CBDC, this could cause major changes to the settlement system in the future,” he said. “Japan needs to make sure it’s not left behind.”

Categories
Bitcoin Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news HYIPs Investment News NFT Investment

Cryptocurrency tax rules will reduce US budget deficit by $11 billion in ten years: White House

The Biden administration’s budget said modernizing tax rules to include digital assets will bring the government $4.9 billion in revenue in 2023.

The US government’s fiscal 2023 budget includes about $11 billion in revenue over the next decade from modernizing rules on digital assets.

According to US President Joe Biden’s fiscal year 2023 budget released by the White House on Monday, changing tax rules on digital assets will reduce the deficit by $10.9 billion from 2023 to 2032. White House said it would “modernize the rules” to include certain taxpayers who declare possessions. of digital assets in foreign accounts, amending market adjustment rules to include digital assets, and requiring financial institutions and cryptocurrency exchanges to report additional information. In addition, it proposed to “treat bond lending as tax-exempt to include other asset classes and address income inclusion.”

The Biden administration has estimated that modernizing tax rules to include digital assets will bring the government $4.9 billion in revenue in 2023. In addition, the budget included $52 million to combat the “misuse of cryptocurrencies,” expanding the Department of Justice’s ability to deal with cyber threats. for the United States. The funding will provide the government agency with “more agents, improved response capabilities, and enhanced intelligence collection and analysis capabilities.”

President Biden said his administration is on track to reduce the US deficit by more than $1.3 trillion by 2022. Among the president’s proposals to increase government revenue is one that calls for a tax rate above 20% of income for American families worth more than $100 million, about 0.01% of households, according to the White House.

Under the leadership of @POTUS, America is on the move again.
-We created more than 6.5 million jobs in 2021.
-Our economy had the highest growth in almost 40 years.
-The unemployment rate dropped to 3.8%.
-And the deficit fell last year by more than $350 billion. pic.twitter.com/lkiH9pZvTb
— The White House (@WhiteHouse) March 28, 2022

The proposed budget followed Biden signing an executive order on March 9 establishing a regulatory framework for digital assets in the United States. The order will require government agencies to explore the potential launch of a digital dollar, as well as coordinate and consolidate policy into a federal framework for cryptocurrencies.

Related: Regulators and Industry Leaders React to Biden’s Executive Order on Cryptocurrencies

The current administration in the US has now considered cryptocurrencies both in their budget estimates and in a regulatory framework. However, the world’s largest democracy recently voted to establish a framework on digital assets through tax policy. On Friday, Indian lawmakers passed a finance bill that included an amendment to a 30% tax on digital assets and non-fungible token transactions. In addition, the framework will not allow deductions for business losses when calculating revenue.