Connect with us

Cryptocurrency

Malta Lawmakers Pass Three Bills on Cryptocurrencies

Published

on

Lawmakers across the globe are making decisions on the disruptive technology currently sweeping across industries. It is no surprise that the Cabinet of Malta joined lawmakers taken favorable stances on cryptocurrencies. The cabinet approved three bills related to cryptocurrency and blockchain technology, with one bill, in particular, the Virtual Financial Assets Bill, providing a regulatory framework for cryptocurrencies and initial coin offerings. While the other two bills are the Malta Digital Innovation Authority Bill and the Technology Arrangements and Services Bill.
The three bills were also presented to the Parliament of Malta for its first reading on Tuesday. The next stage is a debate between both sides of the House before they are passed into law. Parliamentary Secretary for Financial Services, Digital Economy and Innovation, Silvio Schembri states, “As a government, we think that by regulating this market, it will ensure that the three main principles of financial regulation are adhered to and will be a market that protects the investor and provides market integrity and financial soundness.”


A new department has been established by the Malta Digital Innovation Authority Bill, the new department is called the Malta Digital Innovation Authority. The new department will focus on internal governance arrangements and its key roles have been described by Mamo TCV Advocates law firm, “the certification of DLT [Distributed Ledger Technology] platforms to ensure credibility and provide legal certainty to users wishing to make use of a DLT platform.”
The Mamo TCV Advocates law firm focuses on ICOs “and the regulation in respect of certain service providers which will be involved in activities related to ICOs.” The firm added that “The bill will also outline the regulatory regime which will be applicable to cryptocurrency exchanges.” These newly implemented bills will foster greater developments for Malta and empower the Malta Financial Services Authority (MFSA).

What do you think about the new bills approved by the Cabinet of Malta? Let us know in the comments section below!
________________________________________
Images courtesy of Malta Today and crypto money.
________________________________________

Disclaimer:

The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

Spread the news
Continue Reading
Advertisement
Comments

Cryptocurrency

Ditcoin is Driving Crypto Adoption in Africa

Published

on

Ditcoin is placing its mark on the African continent. The cryptocurrency which revealed its new CEO early last month has been working hard to educate Africans about the importance of cryptocurrency. Ditcoin has also been busy trying to make the cryptocurrency available to its users.

The cryptocurrency announced late in June that it would now be listed on some indexes and cryptocurrency exchanges. The cryptocurrency will be listed on WorldCoinIndex, Exrates and Coinlib. This would help its users gain access to the digital currency easily as well as aid new users in purchasing the cryptocurrency.

Asides getting listed on new exchanges, the cryptocurrency spent the month of July upgrading its management. From the announcement that Ditcoin now has a new CEO, Tony Emeka to the announcement of a PRO, Mrs Brooke Miller. The digital currency aims to ensure that the cryptocurrency drives adoption in the African continent and the world beyond.

To achieve the aim of driving adoption, the CEO of Ditcoin is currently touring  Nigeria and educating people on crypto currencies. Sometime in July, Mr Tony was in the Northern states of Kano and Katstina. While in Katstina, he was at a cryptocurrency event on the 25th of July that was tagged “Awareness on the Blockchain Technology, Cryptocurrency and Ditcoin.”  The event which was endorsed by the Prince of Katsina, gave Ditcoin the opportunity to raise grassroots awareness. Educating the people about cryptocurrencies and the importance of privacy in transactions. Ditcoin is becoming a driving force in the African cryptocurrency space and we look forward to seeing it in massive use. 

 

 

What do you think about Ditcoin? Share your opinion with us in the comment section below.
Image credit: pixabay,

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

Spread the news
Continue Reading

Cryptocurrency

Guess Who Now Owns Her First BTC? Kim Kardashian

Published

on

Prev1 of 2
Use your ← → (arrow) keys to browse

Kim Kardashian now owns her first bitcoin in physical form. The global superstar and social media personality got her bitcoin at the Hold’em poker tournament which held on July 29th, 2018. The tournament was the City of Hope, a cancer and diabetes research and treatment center first annual Poker Tournament in Los Angeles. Kim was presented her first 1 BTC by digital currency educator and tech entrepreneur Matthew Roszak.

The event was hosted by philanthropists Irving and Shelli Azoff in  Los Angeles and Kim Kardashian shared the historic moment with her instagram 114 million followers saying, “We’ve moved onto Bitcoin!” Kim whose net worth is well over a quarter billion was pictured with Mr. Roszak holding a  physical representation of the coin.

Kim is not the first person to be associated with Bitcoin in her circle of friends and family. Her husband Kanye West was associated with a cryptocurrency that didn’t gain limelight. Also, her childhood friend and social figure Paris Hilton endorse a coin briefly before it died out.

Prev1 of 2
Use your ← → (arrow) keys to browse

Spread the news
Continue Reading

Cryptocurrency

How Much Cryptocurrency Do You Have in Your Savings?

Published

on

Cryptocurrency is rapidly gaining popularity in Africa and people are beginning to invest in it. For most countries in the world, fiat has failed the people and it is easier for people to turn to cryptocurrencies. Countries like Venezuela, Zimbabwe, Cambodia and even South Sudan rely on an alternative source of money besides the countries currencies.

But then, despite the fact that cryptocurrency looks like an attractive investment choice, its volatile nature has got some governments issuing warnings to its citizens about investing in it. However this has not stopped people from investing in cryptocurrency. However, the question most people ask is how much should I invest in cryptocurrencies?

Look Before Taking a Leap

The first thing any crypto investor should have at the back of their mind is that all investments carry their own set of risks and reward variables, and digital currencies are no different. The next thing any would be investor should do is to research.

Small Beginning

The next step is to start small. Any crypto investor that’s a newbie should not expect to become a whale overnight so just invest in a small fraction of a particular cryptocurrency. Get use to the process of buying, selling and storing your crypto with just a small sum. If you make a mistake you can lose your money in an instant. If you send bitcoin to the wrong address, it’s gone. So start small to grow big

Do Not Invest More Than You Can Afford to Lose

Cryptocurrency is volatile in nature, bitcoin rose as high as $20,000 last year and its worth $8,198.30 as at the time this article was written. So if you wake up and discovered that your entire crypto portfolio was down, you’d be fine financially. It would hurt, but you definitely wouldn’t be in a disastrous situation.

What Your Portfolio Should Look Like

Well, Bitcoin is the first cryptocurrency and most cryptocurrency portfolio would likely contain a sizable portion of this digital crurrency. The other cryptocurrencies that should be in your portfolio should offer solutions that should keep them relevant for long. For instance, Ethereum has its  blockchain built in such a way that it can be applied to other industries and is not only limited to cryptocurrencies. Ripple, on the other hand uses a global consensus ledger and is popularly referred to as the bank cryptocurrency as it is increasingly being used by major banks and finance houses across the world.

 

The Stansberry Churchouse Research suggests that at least the minimum percentage of your saving portfolio that should be dedicated to crypto depending on your experience should be 1% and the maximum 5%. However this is subject to your experience in the space.
Cryptocurrency is gaining momentum continually and you you shouldn’t ignore it as you consider diversifying your investment portfolio.

 

What do you think about including cryptocurrency in your investment portfolio? Share your opinion with us in the comment section below.
Image credit: pixabay,

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

Spread the news
Continue Reading

Cryptocurrency

National Cryptocurrencies; Is There a Need?

Published

on

Cryptocurrency is gaining rapid popularity and countries which were once sceptical of it are now adopting it. The first cryptocurrency, Bitcoin was created in 2009 and since its creation, there have been more than 1500 different crypto tokens on the market. Although it is not sure how many of these coins will survive or make a difference in the world. For a while, most countries in the world remained sceptical while some adopted a regulatory approach regarding cryptocurrencies. However, more countries are beginning to see the benefit of cryptocurrencies. Countries like Venezuela and Cambodia have already had a National cryptocurrency country like Russia, Estonia, Denmark, China, Canada, Iran have also revealed their intention to develop their own national cryptocurrencies.

An Escape Route

There are many reasons why these countries adopt cryptocurrencies.
Venezuela, for example, released the
Petromoneda in February 2018 as a means of avoiding U.S sanctions and accessing international financing. The country had been faced with hyperinflation and coupled with the sanctions from the US, the economy was practically crumbling. Basic amenities such as food, water and healthcare services became difficult to access. Initially, the government was rigid with those mining cryptos in the country but, after it came up with its own cryptocurrency, mining became acceptable.

Cambodia is also facing threats of international sanctions and on Wednesday 7th March, 2018 the Deputy Prime Minister  of Cambodia, Men Sam during a blockchain summit held in Phnom Penh launched Entrapay, the Cambodia national cryptocurrency. He explained that, “the connection between integration payment of encrypted currency and the real world. It has the great potential to even replace Visa as the new mainstream payment mode.”

Sustaining the Country’s Financial Infrastructure

Countries like Russia, Iran and North Korea are also venturing into creating a national cryptocurrency. The Russian national cryptocurrency – the CryptoRuble is set to launch in the middle of 2019, the currency is likely to be tied to ruble. However, instead of decentralized mining it will be issued, tightly controlled, and monitored by the government. Most of these countries are trying to use the cryptocurrencies to help sustain their financial infrastructure.
The Chinese government is also looking to create a national digital currency. They aim is to control the total money flow in and out of the country. This will enable the central bank issue and distribute money thereby reducing cost of transactions and creating more accessible money services.

The Other Side of the Coin

However, there is another side to having a national cryptocurrency. Cryptocurrency refer to a currency that is digital, decentralized and distributed and the term “national” negates that purpose. Having a national cryptocurrency will grant the government full control over the money flow and this is not the true purpose of cryptocurrencies.

 

What do you think about your country having a national cryptocurrency? Share your opinion with us in the comment section below.
Image credit: pixabay,

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

Spread the news
Continue Reading
Advertisement
Advertisement

Find Us

Address: 7 Kafi Street, Beside City Mall, Shoprite, Alausa, Ikeja, Lagos.

Hours: Monday—Friday: 9:00am–5:00pm

Contact: +234 817 866 6900

Advertisement
Advertisement

Trending