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Archive | April, 2017

South Korea’s Central Bank Report Says ‘Bitcoin and Fiat Currency Can Coexist’

  South Korea’s Central Bank Researches the Relationship Between Bitcoin and Fiat Researchers from Seoul’s Hongik University and members of the Bank of Korea (BOK) have released a paper called “Crowding out in a Dual Currency Regime.” The paper written by Kihoon Hong, Kyounghoon Park, and Jongmin Yu details how cryptocurrencies and fiat monetary systems […]

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  A recent editorial published by Bloomberg on April 4 had quotes from the Philadelphia Federal Reserve’s Patrick Harker concerning digital currencies. In the article, he demonstrates his ignorance about bitcoin’s volatility, the future of banks, and the concept of trust.  The article’s author quotes Harker, saying that digital currencies will not replace banks. Harker said, “Digital […]

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Do You Think They’ll Use the US Dollar on Mars?

The space age is shifting into a higher gear with extraordinary momentum. The US Congress recently directed NASA to prepare a plan for deep space exploration, which should include sending humans to Mars. Concurrently, private companies continue to create and expand the commercial space market.   In this regard, the fact that Bitcoin is borderless […]

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Digital Currency Regulation Heats Up In The EU As Parliament Proposes Additional Rules

Europe is seeking to further tighten its grip on digital currencies including bitcoin. Previously, the European Commission has only proposed strict rules for digital currency exchange platforms and custodian wallet providers. Last week, the European Parliament proposed additional amendments meant to regulate digital currency businesses, adding a multitude of business categories, specifically disallowing anonymity. EU Legislative Process The […]

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Major Chinese Exchanges to Postpone the Return of Withdrawals

Today, all of the three major Chinese exchanges – OKCoin, Huobi and BTCC – announced that they will postpone the resuming of bitcoin withdrawals. All three of them have recently been inspected by the Central bank of China (PBoC). In almost identical announcements the exchanges stated they’ve actively been developing and upgrading their systems over the […]

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