Tag: Cryptocurrencies
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Bitcoin depreciates below $20,000 as crypto selloff quickens
The price of bitcoin fell below $20,000 on Saturday for the first time since late 2020, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping by as much as 12% to less than $18,100 by late afternoon on the East Coast,…
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JUST IN: El Salvador adopts Bitcoin as legal tender, first in the world
El Salvador has become the first country in the world to adopt the cryptocurrency Bitcoin as legal tender. The adoption came after after President Nayib Bukele’s proposals to embrace cryptocurrency were approved by congress. On Tuesday night, lawmakers voted in favour of the plan with 62 out of 84 possible votes. The country’s president made…
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Turkey bans payment with cryptocurrencies
Turkey’s central bank on Friday prohibited the use of cryptocurrencies such as bitcoin for purchases, citing transaction risks. The ban would be effective as of April 30, the central bank said in legislation published in the Official Gazette. The new regulation prohibits transfer of cryptocurrencies for purchases or services. The central bank said the ban…
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We are engaging CBN for better understanding, regulation of cryptocurrencies – SEC DG
The Securities and Exchange Commission (SEC) says it is working with the Central Bank of Nigeria (CBN) for better understanding and regulation of cryptocurrencies in the country. The Director-General, SEC, Lamido Yuguda, said this at the 2021 first post-Capital Market Committee (CMC) virtual news conference. Yuguda said that the commission was in discussion with the…
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Cryptocurrencies: SEC to suspend admittance of persons affected by CBN directives
The Securities and Exchange Commission (SEC) says it will put on hold, admittance into its Regulatory Incubation Framework for Fintech firms, all persons affected by the Central Bank of Nigeria (CBN) cryptocurrencies circular. The commission made the disclosure in a statement it issued in Lagos on Thursday. It said that assessment of all persons and…
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Bitcoin warnings grow more strident as Singapore central bank urges ‘extreme caution’
Global financial regulators are beginning to warn the public against the risks of investing in a market that many feel is in a speculative bubble, with Singapore central bank on Tuesday urging “extreme caution” about buying cryptocurrencies. The staggering growth of bitcoin and other decentralised digital currencies this year – with the market swelling from…