Faced with public outcry over chronic power cuts and rising pollution, Iranian officials have targeted energy-intensive cryptocurrency mining farms.
Cryptocurrency miners in Iran say they are being scapegoated for power outages and pollution.
Iran’s active mining of cryptocurrencies has led to an energy collapse. Power plants are running out of gas and some have switched to fuel oil. The Iranian capital is covered in smog because of this. The country’s authorities have already confiscated around 45 000 cryptocurrency mining rigs.
According to the country’s largest newspaper, Hamshahri, there is an energy crisis in Iran. One of its main causes is active mining of Bitcoin and other cryptocurrencies, which have been rising in price in recent months. Due to increased electricity consumption and the cold winter, power plants are running out of gas. Some have continued to operate by switching to fuel oil. …
It looks like Australia is becoming a super haven for cryptocurrency and blockchain activity. According to a new survey, it appears that roughly 20 percent of its residents have either owned cryptocurrency in the past or possess it at the time of writing.
Australia’s overall crypto perception improved in 2020 but adoption among women is still lacking.
According to the Independent Reserve Cryptocurrency Index (IRCI) for 2020, the overall sentiment towards cryptocurrencies in Australia has improved significantly compared to 2019. …
Cryptocurrency holders can now cash out their bitcoin at 16 000 ATMs across the UK thanks to a collaboration between East London-based Cryptocurrency company BitcoinPoint and independent cash machine operator Cashzone.
According to a recent announcement, Bitcoin users can now convert their cryptocurrencies into cash across over 16 000 ATMs in the UK.
Bitcoin owners will now be able to sell their bitcoins at 16 000 Cashzone ATMs across the UK under an agreement reached with London-based cryptocurrency company BitcoinPoint.
Under the terms of the agreement, once registered, Cashzone users will be able to enter a withdrawal amount on BitcoinPoint’s website and scan a QR code. …
Tech reporter once traded $300 000 worth of Bitcoin for a sushi dinner.
In 2013, this reporter spent 10 BTC, worth $1000 at the time, on a dinner for dozens of strangers in San Francisco. The owner of the restaurant wisely held onto it.
On December 16, Bitcoin surpassed $20 000 level for the first time, hitting an all-time high. Against this backdrop, The New York Times journalist Kashmir Hill recalled how in 2013, even before the cryptocurrency boom, she spent 10 bitcoins at a sushi bar, paying for dinner with 60 strangers. …
Canadian mutual fund manager CI Financial Corp. completed a $72 million initial public offering of a Bitcoin fund to help clients access the cryptocurrency in the midst of an eye-catching rally.
Description: CI Financial Corporation, one of the biggest mutual fund managers in Canada, has recently completed a $72 million fundraise through the Initial Public Offering (IPO) of its Bitcoin Fund.
Northern Trust, a major investment company with $1.2 trillion in assets in Canada, the US and the European Union, is entering the cryptocurrency market. …
JPMorgan has completed a live, blockchain-based intraday repo transaction using an in-house developed application which supported instantaneous settlement and maturity of the transaction in hours, as opposed to days.
Description: JP Morgan has announced a successful blockchain-based repo transaction — with the potential to reduce such payments to hours rather than days.
JPMorgan says it has completed an operational intraday repo transaction using a blockchain solution, with a commercial launch soon to follow. The bank said on Thursday that the repo transaction was between broker-dealer JPMorgan and the banking institution. …
Massachusetts Mutual Life Insurance Co. has purchased $100 million in Bitcoin for its general investment fund, the latest mainstream firm to dabble in digit assets.
Insurer MassMutual is the latest financial institution to invest in Bitcoin, buying $100 million worth of the digital token.
Massachusetts Mutual Life Insurance has invested $100m in BTC and $5m in an equity stake in New York Digital Investments Group (NYDIG). According to a press release, both investments give MassMutual direct entry into the cryptocurrency industry. NYDIG is one of the fastest growing institutional cryptocurrency investment companies with $2.3 billion under management. …
SWIFT, the Brussels-based interbank cooperative, has unveiled its first active instant cross-border payment connection.
SWIFT announces the activation of the world’s first live gpi Instant connection, a new service that enables consumers and businesses to send payments in seconds across borders, around the clock via their financial institutions.
SWIFT and Lloyds Banking Group announce the world’s first gpi Instant connection, a new service that will allow consumers and companies to send payments abroad through their financial institutions 24 hours a day, 7 days a week.
The first financial institution to implement the new service was Lloyds Banking Group. At the time of launch, the service will be available in the UK. This means that consumers and companies will be able to make payments in seconds from anywhere in the world to the UK via Lloyds Bank, ensuring the transparency of commissions and exchange rates, compliance with safety requirements and full regulatory compliance. …
Visa Inc. is partnering with cryptocurrency startup BlockFi to offer a credit card that rewards purchases with Bitcoin rather than airline miles or cash.
Visa will launch a credit card that rewards users in Bitcoin, instead of the traditional cash, or airline miles, in early 2021.
Visa, together with BlockFi crypto start-up, will issue a dollar credit card to which the cacheback will return in the form of bitcoins rather than the usual money or miles. Bitcoin Rewards credit card users will receive back 1.5% of their purchases in BTC, as well as $250 in crypto if they spend more than $3000 during the first three months in 2021, BlockFi said in a statement. The cost of servicing the card is $200 per year. …
What happens to your bitcoins when you die? Well, there are three ways to pass your digital wealth to the next generation.
Description: If you fall into the bracket of the average Bitcoin user, you probably have no plans of exiting anytime soon. But, if you own any meaningful amount of digital assets, you should think about what happens to your bitcoin when you die.
Cryptocurrencies are still outside the official legislative field in many countries. And where they are not banned, there are no clear regulations on all aspects related to digital assets. One of them is the issue of crypto inheritance. To be more precise: what will happen to the cryptocurrency of a deceased person? The question of bitcoins after the death of their owner is largely up to him. The cryptocurrency does not have a centralized management authority that can automatically hand over assets to be inherited after death. …