Politicians in Iran and Russia are discussing the possibility of using digital currencies to bypass sanctions. Cryptocurrencies: A Tool for Bypassing Sanctions Decentralization is one of the biggest advantages of cryptocurrencies. Unlike traditional fiat currencies, cryptocurrency transactions cannot be stopped by a central party or authority. Some countries have sanctions imposed on them by the USA and many European nations. Several experts believe that certain countries may be bypassing international sanctions by using decentralized cryptocurrencies.
Louis Ong, a Vancouver-based bitcoin trader, has been sentenced to 20 days in a U.S jail for unlicensed cryptocurrency trading. Ong was apprehended as part of a sting operation by Federal agents. Apart from jail time, Ong must also forfeit about $1.1 million worth of bitcoin and cash. The Sting Operation Ong first appeared on the Department of Homeland Security’s (DHS) radar in 2016 after he posted an online ad about his bitcoin trading business.
The cryptocurrency market continues to be a trending topic in the world of finance. However, the question remains; when will Wall Street banks begin crypto trading? The day is closer than we think, according to a former J.P. Morgan executive. Big Banks to Start Trading Cryptocurrency Soon Amber Baldet, formerly of J.P Morgan believes that the big banks will soon start trading cryptocurrency. She made this declaration during an interview with CNBC. According to her,
Morgan Creek Blockchain Capital is taking tokenization to the next level. The VC firm is set to convert paper shares of a company into digital token assets. These assets will then be issued to raise capital for the business. Somewhere Between an IPO and an ICO ICOs emerged as a fundraising revelation for startups in 2017. Many campaigns raised millions of dollars showing that perhaps VCs were a dying breed. However, government regulations seem to
LedgerX has introduced a Bitcoin savings product licensed by the CFTC. The Bitcoin asset management platform has designed this new product to cater to long-term hodlers. The LedgerX Bitcoin ‘Call Overwrite’ Launched on May 15th, the LedgerX Bitcoin savings account enables investors to earn a fiat-based yield on their Bitcoin holdings. Instead of hodling in the hope of a significant price increase, savers can now earn revenue from a call overwrite. Usually, overwrite contracts are for
Bitcoin proponent and former Goldman Sachs trader Mike Novogratz has inked a partnership deal with Bloomberg to launch a cryptocurrency index platform. Novogratz’s Galaxy Digital Capital Management LP and Bloomberg will establish the Bloomberg Galaxy Crypto Index (BGCI). The index service will provide trusted asset tracking for 10 of the most liquid cryptocurrencies in the market. The Bloomberg Galaxy Crypto Index The BGCI is part of the Bloomberg Index Services Limited catalog and is administered