Hope this week’s cryptocurrency news edition finds you doing well with your family, healthy and sane. As the COVID 19 ravages New York State and the rest of the US bringing it to top of the charts and the other countries are expected to follow suit, we hope that more and more people are taking good self care and practicing social distancing.
We hope that the world will come out of this pandemic more stronger and soon.
This week we saw the US flirting with US Digital Currency, Russia proposing to ban the cryptocurrency, COVID fundraising on crypto, and more.
Brave partners with Binance to facilitate trading from your browser
Soon you can trade cryptocurrency right from your browser, that is if your Browser is Brave Browser. Brave announced “The new Binance widget in the new tab page of the Brave desktop browser makes Brave the only browser that offers integrated functionality for buying and trading cryptocurrency. With the Binance widget, Brave users can access the Binance.com and Binance.US (for US-based users) sites, buy and sell crypto assets, view asset balances, and obtain deposit addresses all without leaving the browser.” Brave is the only browser that protects user data, avoids tracking and pays users for their attention, and now they are integrating trading of cryptocurrency.
Stimulus package flirts with US Digital Dollar
This week the US Government has approved a $2 Trillion dollar stimulus package to keep the economy afloat in the midst of COVID chaos. The first draft of this stimulus package included mention of the US Digital Dollar that required the banks to hold digital wallets for the citizens so that these payments could be sent directly to the wallets. However, the digital dollar was removed from the final bill that went through the house. The fact that the US is considering the digital dollar is an indication that the US will not let China win the digital currency race. More to come for sure.
Russia proposes to ban Cryptocurrency
Crypto space has become a staple for drama. On one hand, the US proposes a digital dollar on top of blockchain and on the other Russia proposes a ban on Cryptocurrencies citing security, money laundering and investor security as reasons. Forbes called it ‘Blow to bitcoin’, however, we think Bitcoin will do just fine. After all, there are 195 other countries in the world besides Russia. Translated news reveals “the bill directly formulates a ban on the issue, as well as on the organization of circulation of cryptocurrency, and introduces liability for violation of this ban.”
Binance raising money to fight COVID19
Crypto Against COVID, an initiative from Binance, is raising funds to fight COVID Pandemic. Binance Charity Foundation is looking to raise $4 million of which $1 Million is targeted from Crypto communities, according to Forbes. The charity is going to match all donations made to the fund.
Microsoft files patent for new cryptocurrency and mining system
Your daily routine could help mine cryptocurrency. This doesn’t mean you will become a batter in the Matrix style but you will be able to perform small tasks assigned to you and help mine cryptocurrency. Microsoft has filed for a patent for new cryptocurrency that uses body activity to mine. Patent application reads “Human body activity associated with a task provided to a user may be used in a mining process of a cryptocurrency system. A server may provide a task to a device of a user which is communicatively coupled to the server. A sensor communicatively coupled to or comprised in the device of the user may sense body activity of the user. Body activity data may be generated based on the sensed body activity of the user. The cryptocurrency system communicatively coupled to the device of the user may verify if the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified.”
China’s central bank moves closer to issuing digital currency
China’s central bank is one step closer to issuing its official digital currency. It seems the People’s Bank of China (PBC), in collaboration with private companies, has completed development of the sovereign digital currency’s basic function and is now drafting relevant laws to pave the way for its circulation, industry insiders said, according to GlobalTimes.
Binance to issue crypto debit card
A new debit card that lets you shop with your crypto funds is in the works. According to the announcement “The Binance Card does everything a regular payment card does, plus much more. It works like a regular debit card issued by your bank – which, in this case, is your Binance.com account. You simply top-up your card with funds through the Binance Card App in the form of Bitcoin or BNB, and you’re ready to go. It’s as simple as transferring BNB from one wallet to another. Your card will then use this balance for your card payments and automatically deduct all expenses from the balance every time you make payment. The Binance Card is issued by Visa and accepted by more than 46 million merchants offline and online in 200 regions and territories, which makes shopping with crypto easier than ever before.”
SEC wins injunction against Telegram Blockchain
According to Reuters “Ruling in a landmark digital currency suit by the Securities and Exchange Commission, U.S. District Judge Kevin Castel of Manhattan issued a preliminary injunction Tuesday, barring the launch of the Telegram Open Network blockchain. The judge held that based on the particular facts surrounding Telegram’s plan to distribute a new digital currency to trade on its TON platform, the SEC was likely to succeed in proving that the blockchain’s developers engaged in the sale of unregistered securities.”
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