Investing.com – The mood in the cryptocurrency markets remains good this Monday as most of the digital currencies are making gains.
It has successfully cracked the $ 50,000 mark and is currently trading at $ 50,071.4, around 1.8% up. BTC hit its recent high at $ 50,403 and market cap is approaching the $ 945 billion mark.
For is up 2.08% to $ 3323.29 while that is up 3.73% to $ 0.3156. The undisputed leader among the top 10 cryptocurrencies is, which brings it to a daily gain of 9.25% at an ADA rate of 2.7954 dollars. Only he has to accept a loss of -0.26% at an XRP rate of 1.2339.
UK PayPal (NASDAQ 🙂 customers will soon be able to buy Bitcoin, Ethereum, Litecoin and Bitcoin Cash
PayPal has been offering its customers in the USA the option to buy Bitcoin, Ethereum, and Bitcoin since November 12, 2020. Business is going well in this new area of activity and it was only a matter of time before expansion.
The official announcement is very fresh that British customers will soon be able to enjoy the Paypal crypto services.
PayPal’s Vice President and Head of Crypto, Jose Fernandez said:
“The pandemic has accelerated digital change and innovation in all areas of our lives – including the digitization of money and the greater acceptance of digital financial services. Our global reach, extensive knowledge of digital payment flows and strict security measures enable us to Bringing the British closer to the cryptocurrency market. “
PayPal has its goal clearly in mind, but there are also some hurdles to overcome. The British regulatory authority Financial Conduct Authority (FCA) had banned the cryptocurrency exchange Binance from offering crypto services to the British only a few months ago.
Coinbase (NASDAQ 🙂 is shaken by US infrastructure law
Regulation of the crypto industry is also a hot topic in the US, and while the authorities involved are still arguing over who is responsible, politicians are trying to create facts.
They use the very extensive infrastructure law to legally secure their view of the crypto market. But there are also some senators for whom this approach goes too far. We had about that in the article reported.
The Coinbase VP of Tax, Lawrence Zlatkin, is shocked by the actions of the politicians. From his point of view, the crypto market is no longer just a small niche that you can make decisions about.
He calls for an open dialogue so that no one is subjected to disproportionate hardships.
“About 60 million Americans today own cryptocurrencies – that’s one fifth of the entire US population. These Americans and the entire crypto ecosystem deserve more communication. Last-minute legislative decisions are not appropriate.”
What upsets him and some senators is that the general term broker is used in the draft law. This means that many who work in the crypto industry are lumped together. Obligations to provide evidence are imposed on them, which they cannot fulfill at all.
Zlatkin added: “As long as the law stipulates that software developers, miners and stakers must do the impossible, any lawyer will advise them not to work in this industry, because breaking the law means nothing less than bankruptcy.
If we tailor our laws to problems that don’t even exist, we will jeopardize America’s leadership in the crypto economy. Why should one slow down this still young industry and thus risk emigration (and the associated taxes) abroad? “
If people don’t get to bitcoin then …
Jayson Stewart is the mayor of Cool Vallye, a sleepy hamlet in the tranquil US state of Missouri.
Stewart wants to make his community more prosperous, and as a digital currency advocate, it goes without saying that Bitcoin should be owned by every one of its 1,500 citizens.
His plan is for the city to pay out $ 1,000 worth of Bitcoin to each of its residents. There will be one condition after all: The BTCs must be held for at least 5 years – and for good reason.
“My biggest concern is that someone will sell their bitcoin to pay for a car loan. When the bitcoin is at $ 500,000 years later, it will be very unfortunate,” said Stewart.
Cardano defends his 3rd place
With a market capitalization of almost 90 billion dollars, Cardano ranks third among the most important cryptocurrencies in the world. The gap to the fourth-placed Binance Coin ($ 80.6 billion) is now $ 9 billion. There is still a long way to go to the market value of Bitcoin ($ 945 billion) and Ethereum ($ 391 billion), even if ADA has noticeably caught up since the beginning of the year.
While the so-called dominance rate was 0.80 percent at the beginning of the year, it is now 4.22 percent according to TradingView data – and the trend is rising. Bitcoin’s market dominance was over 70 percent at the beginning of the year, but has steadily declined since then, reaching its low point of around 40 percent in mid-May. The BTC share is currently 44.46 percent of the total crypto market. The main reason for the decline was the rise of competitor Ethereum.
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From Marco Oehrl