Cryptocurrency 

Network Effects Could Spark Blaze of Digital Money Adoption

The International Monetary Fund (IMF) has argued that network effects could spark the blaze for the mass adoption of new digital monies. In a fresh report published on July 15, the IMF aims to create a conceptual framework for categorizing new digital monies such as Facebook’s Libra and stablecoins as well to think through the implications of their emergence for central bank policy. In its analysis of e-monies — including but not limited to blockchain-based assets — the IMF identifies six factors that could drive their rapid growth for payments:…

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Ethereum 

Russia to Postpone Adoption of Bill on Digital Currencies

Russia’s parliament, the State Duma, may defer the adoption of the country’s major crypto bill “On Digital Financial Assets” (DFA) until the autumn session, local news outlet TASS reported on July 9. The Duma is considering shifting the adoption of the DFA bill to the autumn session, while the representatives have largely agreed on a bill on crowdfunding, according to the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov. Aksakov further explained that officials have not been able to reach a common position on the fate of…

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Bitcoin 

Litecoin ‘Excellent’ in Adoption and Investment Returns

American provider of investment data Weiss Ratings has ranked Litecoin (LTC) as “excellent” in regards to investment rewards and adoption Digital currency ratings unit Weiss Crypto Ratings has classified the fourth largest cryptocurrency in terms of market capitalization LTC as “excellent” when it comes to investment rewards and adoption. At the same time, the agency ranked the altcoin’s investment risk factor as “fair,” which resulted in the B- rate in the risk to reward ratio. Litecoin — a cryptocurrency and an open-source project released in 2011 with the idea to…

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Cryptocurrency 

Coinbase Releases Key Findings on Crypto Awareness and Adoption in US

Major American cryptocurrency exchange Coinbase released key findings about awareness and adoption trends related to digital currency in the United States in a blog post published on June 28. Coinbase’s survey that spans the past year and 2,000 participants revealed that cryptocurrency awareness in the U.S. has continued growing, with 58% of Americans having heard about bitcoin (BTC). Of them, some expressed a desire to diversify their investment portfolios with digital currencies, were excited by crypto’s idea of a worldwide currency, or liked the absence of high transfer fees. The…

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Bitcoin 

Indian Lawmakers Propose Adoption of 10-Year Jail Term for Crypto Dealings

Indian lawmakers have reportedly proposed to enforce a 10-year jail term for citizens who deal with cryptocurrencies, local financial news agency BloombergQuint reports on June 6. The new tough crypto regulation is a part of a recently proposed draft bill called “Banning Cryptocurrencies and Regulation of Official Digital Currency Bill 2019,” according to a report by crypto news outlet The Block. The regulation will reportedly relate to those who mine, hold, buy and sell cryptocurrencies, as well as those who deal with cryptocurrencies directly or indirectly in the country. If…

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