If Bitcoin can bounce within the next few days, it might offer a good buying opportunity
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Following the start of trading platform for selected investors in September, Börse Stuttgart Stock Exchange (BSDEX) has now opened to all interested users with residence in Germany. Börse Stuttgart made its announcement in a press release on Dec., 6.
Trading venue open — under certain circumstances
First of all, users will have to limit themselves to deposits and withdrawals as well as trading bitcoins against euros. In the future, BSDEX will also list other cryptocurrencies and digital assets like security tokens.
Users will have to prove their identity digitally and fulfill certain requirements. To connect directly to BSDEX, users must hold a German bank account and be at least eighteen years old, resident in Germany and a national of a country in the European Economic Area (EEA).
First regulated token trading platform in Germany
BSDEX meets the regulatory requirements…
Forkast Insights, the research arm of Asia-based Forkast, took an in-depth, comprehensive look at how blockchain technology is integrated in China.
On Dec. 5, Forkast Insights presented its first report on how blockchain is being applied by the Chinese government and companies across the country. According to the report, blockchain technology is rapidly maturing and has a slew of “real-world, practical use cases that are far beyond the experimental stage.”
Forkast Insights included the in-depth analysis and insights from top China-based blockchain insiders, academics, and leaders to see how one of the world’s largest economy is experiencing this innovative technology.
The report takes a closer look at how blockchain implementation in China compares to the rest of the world, how firms use blockchain and how Chinese consumers experience it in their daily lives, how China takes the lead…
Brazil’s tax agency, the Department of Federal Revenue (RFB), published a new tax code that specifies fines for taxpayers who fail to declare their Bitcoin (BTC) and cryptocurrency transactions.
On Dec. 6, Cointelegraph Brasil reported that the new crypto tax code is a further follow-up to provisions made by the RFB in August that require Brazilian citizens to report all transactions involving cryptocurrencies, in accordance with rules established by Normative Instruction 1,888 introduced in May 2019.
The already implemented tax code applies to individuals, companies and brokerages, and includes all crypto-related activities, including buying and selling, as well as donations, barters, deposits, withdrawals and others.
Those who fail to file a statement on their crypto transactions will be subject to penalties ranging from 500 Brazil reals (BRD) to 1500 BRD, or from $120 to $360.
In August, Cointelegraph reported that RFB believes that…
Blockchain, like many other emerging technologies, is enthusiastically touted as a solution to many of the world’s problems. Perhaps because of its relation to cryptocurrency or the narrative prophecies that surround them both, blockchain draws both criticism and praise from a staggering array of sectors.
However, with the big blockchain push from Chinese President Xi Jinping along with many tech, finance and industry giants piloting blockchain implementation, the number of use cases grows with each passing day. While cryptocurrency more often draws ire from the mainstream financial world, it seems that for blockchain, the sky’s the limit — but not for long.
A combination of blockchain and 3D printing for aircraft parts may launch the technology into the stratosphere. Cointelegraph spoke to major players in aerospace, including Ernst & Young’s global blockchain leader about blockchain’s vast potential to impact global business through 3D…
An alleged cryptocurrency pyramid scheme in Uganda has fled after defrauding dozens of victims that invested in and worked for the scheme.
Dunamiscoins Resources Limited opened in Masaka last month and started inviting individuals to invest and become part of its “digital currency network,” independent Ugandan newspaper Daily Monitor reports Dec. 5. The firm’s offices closed down covertly just a month after opening, with employees reportedly coming to the office to find it empty.
Dunamiscoins required employees to pay to start work
A businessman who worked next to Dunamiscoins’ closed offices reportedly said that Dunamiscoins was convincing people to join its firm by promising 40% returns on cash investments. According to the witness, the firm was apparently working with money transfer companies in the city to recruit new people to the scheme.
Additionally, Dunamiscoins allegedly asked each applicant to pay 20,000…
This week Bitcoin (BTC) continued to trade within a tightly defined range and at the time of writing the price is flat. The bulls and bears have been throwing the market back and forth with moments of high volatility on the lower timeframes, all of which are often a sign of a larger move simmering beneath the surface.
The wider market remains in a similar position, although some altcoins like XRP have slightly outperformed Bitcoin over the past 24 hours.
Cryptocurrency market daily view. Source: Coin360
Watch the weekly chart
BTC USD Weekly chart. Source: TradingView
Analyzing the weekly chart shows that Bitcoin has fundamentally…
General manager at the Bank for International Settlements (BIS) Agustin Carstens seems to have changed his negative stance towards central bank digital currencies (CBDCs), now stating that such currencies could open up new possibilities.
In his speech entitled “The future of money and the payment system: what role for central banks?” published on Dec. 5, Carstens dug into central banks’ approach to emerging technologies in regards to building more efficient and inclusive financial systems.
Wholesale and retail CBDCs
Carstens said that the introduction of retail CBDCs — which are available to the general public, including businesses and consumers — could bring serious changes to the financial sector by opening up new possibilities when it comes to the 24/7 availability of payments, different degrees of anonymity, and peer-to-peer transfers.
He continued noting that wholesale CBDCs — where the network participants are…