Bitcoin{ became} the official currency of [El Salvador]

Bitcoin became the official currency of El Salvador

El Salvador officially introduced bitcoin as legal tender.

In the early hours of Wednesday, a majority of lawmakers voted in favor of President Nayib Bukele's plan to use bitcoin in Latin America. The president plans to sign the law tonight or early in the morning.
Sixty-two members of parliament, along with 19 votes against and 3 abstentions, voted in favor of the bill.

In a Twitter conversation on Wednesday morning hosted by Nick Carter, co-founder of Castle Island Ventures, Najib Abu Qileh gave more details about his vision, saying that to increase financial inclusion in a country where 30% of citizens have access to financial services We are trying, and users do not just need to use a government wallet.

The President of El Salvador also added in the conversation that the country is drafting a new law that anyone who invests 3 bitcoins in the economy of El Salvador can obtain permanent residence.

He added: "This bill obliges all businesses to accept bitcoin as a means of exchanging goods or services, and the government will act as a support for institutions that do not want to risk the cryptocurrency market." Accept because of its instability. The government may also support bitcoin mining.

The average Ethereum transaction fee fell below $ 1

The average Atrium transaction fee fell below $ 1

According to EtherScan, the average price of Ethereum Transaction Fees has dropped below $ 1.

Less than a month ago, with Ethereum rising to an all-time high, Ethereum transaction fees were above $ 50.

According to experts, the decrease in activities in the field of defense and NFTs has had a significant impact on this decrease.

China State Agency publishes blockchain roadmap

China State Agency publishes blockchain roadmap

The Central Cyber ​​Security Bureau and the Information Committee of the Ministry of Industry and Information Technology of China (MIIT) have identified four key application areas for blockchain acceptance.

 

MIIT's five-item agenda for accepting the blockchain is part of a document presented Monday that details the guidance comments released to accelerate the development of emerging technology for industrial development.

 

As previously reported by the Cointelegraph, Chinese President Xi Jinping had previously called for the speedy adoption and approval of the blockchain in October 2019. This MIIT document describes this new technology as "an important part of the new generation of information technology" by presenting its argument for accepting blockchain.

 

According to the Ministry of Information Technology (IT), blockchain is among a host of new innovations such as big data and artificial intelligence that are vital to China's continued progress.

In this MIIT document, options such as economy, finance, industrialization and public services are mentioned as the main focus of blockchain development in the country.

 

According to MIIT, tracking, data sharing, and supply chain management are some of the uses for blockchain that can have a significant positive impact on the real economy. In the area of ​​finance, MIIT is calling for more interaction between blockchain and other emerging technologies such as cloud computing, artificial intelligence and the Internet.

 

MIIT proposes to accept blockchain for public use, which includes concepts such as smart cities and the use of new technologies in government services. The document relies heavily on the immutability of blockchain-based offices in improving evidence-gathering mechanisms in areas such as judicial deposit, civil registration, and administrative law enforcement activities.

As part of its development goals, MIIT called for the establishment of at least three firms and blockchain industries in China. The document also mentions international cooperation, especially under the auspices of Belt and Road.

 

Although the MIIT document emphasizes the acceptance of blockchain, there is no general reference to cryptocurrencies or tokens. Beijing continues to crack down on cryptocurrencies, and Weibo has reportedly banned the accounts of some "virtual currency influencers."

MicroStrategy is about to buy another $ 400 million in bitcoins

MicroStrategy is about to buy another $ 400 million in bitcoins

According to a June 7 press release, MicroStrategy is trying to raise another $ 400 million by issuing and providing senior collateral to buy more bitcoins:

"MicroStrategy intends to use the net proceeds from the sale of these securities to obtain additional bitcoins."

In a recent case with the US Securities and Exchange Commission (SEC), the company also reported a loss of at least $ 284.5 million in value from its previous bitcoin purchases.

In February, MicroStrategy raised $ 1.05 billion and then used that 9-digit amount to buy more bitcoins in the same month.

The business intelligence company currently owns 92,079 bitcoins. The company has also formed a new subsidiary called MacroStrategy LLC to maintain its bitcoin wealth.

Bitcoin, with a slight drop of 1.31% in the news, is currently trading at $ 36,665 at the Bitstamp exchange. The leading cryptocurrency is currently down 44% from its April 14 high.

Bitcoin becoming the currency of El Salvador

Bitcoin becoming the currency of El Salvador

El Salvador plans to become the first country to adopt Bitcoin (BTC) as a currency. During the Bitcoin 2021 conference in Miami, El Salvador President Najib Armando Abu Quillah, in a speech in support of Bitcoin, said he planned to introduce a bill next week that would make Bitcoin a Recognize the currency in this country. Abu Kileh announced that he is going to cooperate with Strike, a bitcoin payment company. Mahlers, owner and founder of Strike, also confirmed the news and expressed his desire for the partnership.

Najib Abu Kileh's progressive views have long made him famous; For example, since he took office in 2019, he has talked a lot about bitcoin. "

"Taking a small step for Bitcoin will be a big leap for humanity."

Ripple seeks to obtain XRP transaction data from foreign exchanges

Ripple seeks to obtain XRP transaction data from foreign exchanges

Ripple executives are looking for XRP transaction data at foreign exchanges to prove that most of the tokens were sold to non-US citizens. This is the latest attempt in Ripple's legal battles with the US Securities and Exchange Commission.

The legal team of representatives of Ripple executives has submitted a proposal with the aim of collecting information on the sale of XRP tokens made in foreign exchange offices.

In the ongoing legal battle, Ripple is not accused of selling XRP as registered securities. However, the company's executives have claimed that the sale does not violate US law. They now hope to gather new information from exchange offices to prove that XRP tokens were sold to non-US exchange offices outside the scope of the 1933 Securities Act.

In a statement released Wednesday, Ripple CEO Chris Larsen and CEO Brad Garlinghouse confirmed that they were seeking information from 15 digital currency exchanges that have been trading XRP since 2013 (1392) have been processed.

The defendants asked the court to issue letters requesting the Hague Convention to officials in the Cayman Islands, Hong Kong, South Korea, the United Kingdom, Singapore, the Seychelles and Malta. This request provides information on XRP transactions, including XRP trading volume, IP addresses and exchange policy. The defendants claimed that they were not able to provide this data independently and therefore needed the help of the court.

If approved by the judge, request letters will be sent to foreign legislators to transfer to digital currency exchanges that conduct XRP transactions. These exchanges include AscendEx (formerly Bitmax), Bitfinex, Bitforex, Bithumb, Bitlish, Bitrue, Bitstamp, Coinbene, Coinone, HitBTC, Huobi Global, Korbit, OKEx, Upbit and ZB Network.

The largest Bitcoin event in history (Bitcoin 2021) takes place today in Miami

The largest Bitcoin event in history (Bitcoin 2021) takes place today in Miami

Bitcoin 2021, the largest Bitcoin event in history with at least 12,000 participants, kicks off today in Miami with some of the biggest figures in the digital currency industry in the world.

The conference will be one of the largest digital currency conferences since the COVID-19 epidemic, with organizers expecting more than 50,000 attendees. The informal part of the conference kicked off on Thursday as "Whale Day" with Galaxy CEO Mike Novogratz and BitGO CEO Mike Belshe in attendance.

The event is supposed to be something "more like a music festival" that includes several stages, including the "Nakamoto Stage" main stage as well as side stages such as "Stacking Sats Stage" and "End Of Fiat Stage".

The event will be attended by some US government officials, including Senator Cynthia Lummis and US digital currency sponsor Warren Davidson. Lumis took the oath of office in the Senate in January and earlier this year showed his support for Bitcoin and posted a photo of the laser eye on Twitter. Davidson and Lumis will speak this afternoon on the panel "Bringing the House of Bitcoin Innovation to the United States."

Bitcoin 2021 also includes key former US lawmakers, including Chris Giancarlo, former chairman of the Futures Trading Commission, and Brian Brooks, former head of the US Currency Monitoring Office and current Bainance. Giancarlo and Brooks are set to discuss financial innovation.

Other prominent Nakamoto Stage speakers include Beat Gold creator Nick Szabo, Founders Gemini, Cameron and Tyler Winklevoss, Morgan Creek Digital Founder, Anthony Pomplio, Director Anthony Pomplio Michael Saylor, a former presidential candidate and member of Congress, Ron Paul, and a major investor in digital currency and blockchain, Tim Draper, noted.

Google [accepts] {cryptocurrency} ads + ad terms

Google accepts cryptocurrency ads

In the latest update to its advertising policy for Bitcoin and other cryptocurrency-related products and services, Google outlined the licensing process for exchanges and wallets.

Over the past decade, Google and Facebook have dominated the online advertising market. Both websites banned both ads for cryptocurrencies in 2018; However, since then, a number of these restrictions have been lifted. In the United States and Japan, related businesses can place cryptocurrency ads on Google if "the products and advertisements provided comply with local laws and industry standards and the account is approved by Google."

Now, the tech giant has clearly defined the criteria for licensing. To receive an ad for an cryptocurrency exchange or wallet on Google, a company must be listed on FinCEN as a monetary services business and at least in one state, as a money transferor, or only at a federal or state authorized banking institution. "

Businesses must "comply with relevant legal requirements, including local requirements, both state and federal," and "ensure that their ads and homepage comply with all Google Ads policies."

Google has banned all advertising related to Defy and Initial Coin Issuance (ICO) protocols, as well as Defy-related services such as cryptocurrencies, token cash pools, unauthorized DApps, and unhosted wallets.

Encrypted exchanges that are currently approved by Google must apply for a license again in July. The new rules will take effect on August 3.

The [Binance-backed] exchange in Indonesia intends to make an initial {public} offering

The Binance-backed exchange in Indonesia intends to make an initial public offering

The Jakarta-based Tokocrypto digital currency exchange will review its initial public offering over the next two or three years, according to Nikkei Japan on Wednesday.

The CEO of the exchange, Pang Xue Kai, stated:
"We say two years because we have to be profitable continuously for at least two years before listing. We are profitable right now. Our main focus at Tokocrypto is to further develop our business, expand our operations in more parts of Indonesia and create crypto flows in the country. "

Plan B: The accumulation model {confirms} that the price of [Bitcoin] is in the $ 288,000 range

Plan B: The accumulation model confirms that the price of Bitcoin is in the $ 288,000 range

The anonymous trader "PlanB", the creator of the famous S2F model, has released a new update on the performance of Bitcoin after the recent crash.

Despite a 35% drop in bitcoin over the past month, PlanB has tried to reassure its followers that despite this drop, the S2FX remains intact.

"The new point in the accumulation model closed at $ 37,341. The price fell by 35% in May and we know that bitcoin will not climb in a straight line and a 35% drop in the bull market is likely. The situation is similar to 2013, and the accumulation model is moving in the same direction as before.

Bitcoin is below the 200-day moving average, indicating that bears are currently in control of the market.

The May closing price of $ 37.3 thousand has added a new orange dot to the S2FX, according to PlanB. So everything is ready to reach the $ 288,000 goal. Predictions based on this model indicate that bitcoin will reach $ 288,000 between 2021-2024.