El Salvador is betting that this week’s pioneering adoption of Bitcoin will spur its economy, especially one of its most crucial sources of revenue: money sent home by Salvadorans in the United States. A fervent proponent of the cryptocurrency, President Nayib Bukele has asked the more than 2 million Salvadorans who live overseas to send…
HONG KONG (Reuters) – Binance, one of the world’s largest cryptocurrency exchanges, said it will restrict its services in Singapore days after the city state’s central bank said it should stop offering payment services. Binance will stop offering Singapore dollar payment options and Singapore dollar trading pairs from Sep. 10 and remove the app from…
Bitcoin broached the key $50,000 level once again as the wider cryptocurrency market continued its rally. The largest cryptocurrency rose as high as $50,363 on Monday, having briefly surpassed $50,000 on Aug. 23 as well — a level it hadn’t hit since mid-May. Ether, the second-largest crypto, rose as much as 3% to $3,843, continuing…
By Jonathan Stempel NEW YORK (Reuters) -The top U.S. securities regulator on Wednesday sued the founder of the now-defunct cryptocurrency exchange platform BitConnect over his alleged role in fraudulently raising about $2 billion from thousands of retail investors. Expanding a civil case announced in May, the U.S. Securities and Exchange Commission charged BitConnect founder Satish…
A flaw in the most popular software used to verify transactions on the Ethereum network nearly triggered a crisis for the world’s most widely used cryptocurrency blockchain. About half of the Ethereum ecosystem split into a separate chain after a bug in the Go Ethereum, or Geth, software effected users who hadn’t implemented an update…
Bitcoin’s burst above the $50,000 level didn’t last long and chart patterns signal its rally since July is at risk of fading. The largest cryptocurrency fell as much as 4.4% Thursday to $46,588, with other tokens including Ether retreating along with the Bloomberg Galaxy Crypto Index. The drop pared Bitcoin’s rally since a July low…
El Salvador began installing Bitcoin ATMs, allowing its citizens to convert the cryptocurrency into U.S. dollars and withdraw it in cash, as part of the government’s plan to make the token legal tender. The government will install 200 of the teller machines to initially accompany its digital wallet called Chivo, a local slang term for…
PayPal Holdings will allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week, the company said on Monday. The roll-out, which marks the first international expansion of PayPal’s cryptocurrencies services outside of the United States, could inspire further mainstream adoption of the new asset class. With over 403…
Bitcoin’s price surged past $50,000 on Monday for the first time since May, continuing its rebound from a months-long slump. The world’s largest cryptocurrency rose to $50,341 , as investors bet that the prospect of more U.S. stimulus spending would lead to further gains, and more mainstream financial services firms made moves in the nascent…
By Krisztian Sandor and Tom Wilson FRANKFURT (Reuters) -Major cryptocurrency exchange Binance said on Friday it would demand stricter background checks on customers to bolster efforts against money laundering, with immediate effect. Binance, the world’s biggest platform, has been under pressure in recent months from regulators across the world, who are concerned over the potential…
