BITCOIN

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has wished Satoshi Nakamoto’s Bitcoin whitepaper a happy birthday. “It has led to innovation and crypto asset investing. Let’s make sure as crypto enters its 15th year that investors get proper protection,” said the SEC chairman. SEC Chair Gary Gensler Wishes Satoshi Nakamoto’s Bitcoin Whitepaper Happy Birthday Satoshi Nakamoto introduced Bitcoin to the world approximately 14 years ago today with the publication of the Bitcoin whitepaper. Many people tweeted happy birthday to the pseudonymous creator’s whitepaper, including the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler. He wrote on Oct. 31: Happy 14th birthday to Satoshi Nakamoto’s whitepaper! It has led to innovation and crypto asset investing. Let’s make sure as crypto enters its 15th year that investors get proper protection. At the time of writing, his tweet has received nearly 2,500 comments and has been like

Whitelisted Individuals for the Sale Will Be Able to Purchase VERSE Tokens Using BTC , BCH , ETH and USDT /USDC. November 1, 2022 – Bitcoin.com , a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has announced that the public sale of the VERSE utility token is now live. VERSE will reward participants for buying, selling, storing, using, and learning about cryptocurrency, while supporting those who are seeking accessible onboarding into Bitcoin and DeFi. VERSE will fuel the growth and expansion of Bitcoin.com ’s ecosystem, which includes over 35 million self-custody wallets created in its multi-chain DeFi-ready mobile app, and an award-winning news portal with over 2.5 million monthly readers. VERSE will provide access to exclusive platform services and act as the cornerstone for new initiatives, ultimately expanding access to decentralized technologies and finance. By interacting with the Ve

The U.S. central bank’s key inflation gauge, the personal consumption expenditures (PCE) price index, increased by 0.5% in September, according to data released by the U.S. Commerce Department on Oct. 28. Meanwhile, markets expect with near-certainty that the Federal Reserve will codify its fourth consecutive rate hike by 75 basis points (bps) next month. While investors await the next bank rate increase, midterm elections start on Nov. 8 and reports say inflation is weighing heavily on the minds of most Americans. PCE Increases by 0.5% in September, Fed to Hike Rate by 75bps, Democrats Ignore Inflation Complaints On Friday, Oct. 28, 2022, the U.S. Commerce Department published the latest PCE data for September and data shows a 0.5% increase from the month prior and a rise of 5.1% during the past year. The PCE is considered the Fed’s preferred measure of inflation as it shows the measure of personal income and disposable personal income (DPI) metrics. “Personal income increased $78

U.S. lawmakers have raised concerns about the revolving door between financial regulators and the crypto industry. “Over 200 government officials have moved between public service and crypto firms,” the lawmakers said, adding that they include 31 Treasury Department officials and 28 Securities and Exchange Commission (SEC) officials. Revolving Door Between Financial Regulators, Like SEC, and Crypto Industry Five U.S. lawmakers have sent a letter to seven financial regulators inquiring about measures they are taking to prevent the revolving door between their agencies and the crypto industry. The letters, dated Oct. 24, were signed by Sen. Elizabeth Warren (D-MA), Sen. Sheldon Whitehouse (D-RI), Rep. Rashida Tlaib (D-MI), Rep. Alexandria Ocasio-Cortez (D-NY), and Rep. Jesús G. “Chuy” García (D-IL). The letters were sent to Securities Exchange Commission (SEC) Chair Gary Gensler, Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam, Treasury Secretary Janet Yellen, Federal

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that stock, bond, and real estate markets will crash as the Federal Reserve continues to raise interest rates. Noting that the Fed will pivot, he advises investors to buy bitcoin. Robert Kiyosaki Recommends Buying Bitcoin Before Fed Pivot The author of Rich Dad Poor Dad, Robert Kiyosaki, has advised investors to buy bitcoin before the Fed pivots, reiterating that the Federal Reserve’s interest rate hikes will destroy the U.S. economy. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted early Saturday morning that the prices of gold and silver are plunging as the Federal Reserve continues to raise interest rates. He warned that rate hikes will kill the U.S. economy, cautioning

Phil Spencer, CEO of gaming at Microsoft and head of Xbox, directed some criticism at the idea of the metaverse and how it is being executed. Spencer remarked that for him, the current metaverse is a “poorly built video game,” but also that the sector was still in its early stages and will surely evolve. Phil Spencer Blasts Today’s Metaverse While the still unclear concept of “the metaverse” has been harnessed by several companies that want to leverage the advantage of being pioneers in an industry, other important personalities have criticized the current sector. Phil Spencer, head of Xbox at Microsoft, blasted today’s metaverse technology during the WSJ Live Convention, noting that it was still unpolished. About today’s metaverse, Spencer stated: It’s a poorly built video game. Many interpreted this statement as an indirect jab at Meta, which has been criticized before due to the poor graphics its flagship metaverse app Horizon Worlds presented compared to modern video game

U.S. Senator Sherrod Brown has asked Fed Chair Jerome Powell not to forget the Federal Reserve’s “dual mandate” when making decisions about hiking interest rates at the next Federal Open Market Committee (FOMC) meeting. “It is your job to combat inflation, but at the same time, you must not lose sight of your responsibility to ensure that we have full employment,” the senator told the Fed chairman. U.S. Senator Reminds Powell of Fed’s Dual Mandate Federal Reserve Chairman Jerome Powell is facing political pressure over interest rate hike decisions. U.S. Senator Sherrod Brown (D-OH), chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Powell on Tuesday asking him to consider the Fed’s dual mandate before making any decision to raise interest rates in the next Federal Open Market Committee (FOMC) meeting. Senator Brown wrote: As you know, the Federal Reserve is charged with the dual mandate of promoting maximum employment, stable prices, and moder

Economist Peter Schiff has warned that the U.S. dollar will crash. Noting that the U.S. is “in a much bigger fiscal mess than Great Britain,” with a much bigger debt problem, Schiff stressed: “Can we possibly repay this debt? Of course not. Repaying the debt is impossible. So, what’s going to happen? We’re going to default.” Peter Schiff Discusses U.S. Dollar Crashing Gold bug and economist Peter Schiff shared his outlook for the U.S. dollar in a podcast titled “When This Sucker’s Rally Ends, the Dollar Will Crash,” published Saturday. He explained that the U.S. has major problems that will lead to the crash of the U.S. dollar. Referencing the situation in Britain , Schiff said the U.K. is concerned about increasing debts. The country’s debt-to-GDP ratio is around 85% and former Prime Minister Liz Truss “threatened to send British debt to GDP even higher,” the economist described, noting that “investors rightly dumped the pound.” However, he added: “They sold pounds for dollars …

JPMorgan Chase CEO Jamie Dimon says the tensions between the U.S. and China and the Russia-Ukraine war are “far more concerning than whether there’s a mild or slightly severe recession.” He stressed: “I would worry much more about the geopolitics in the world today.” JPMorgan Boss Jamie Dimon Warns of Something ‘Far More Concerning’ Than Recession The CEO of JPMorgan Chase, Jamie Dimon, talked about something worse than an economic recession Tuesday at Saudi Arabia’s Future Investment Initiative conference in Riyadh, an annual event sometimes dubbed “Davos in the Desert.” Approximately 400 American executives are attending the conference along with European and Asian business leaders. Dimon explained that he considers geopolitical uncertainties to be much riskier than a recession, noting that they are among the biggest concerns facing the global economy right now. The JPMorgan executive opined: The most important thing is the geopolitics around Russia and Ukraine, America and Chi

According to Apple’s latest guidelines for developers seeking to have their apps included in the App Store, crypto exchange applications should only facilitate the transfer of crypto funds to approved exchanges. Where payments are needed to unlock features or functionality, Apple says apps may only “use in-app purchase currencies.” Only In-App Purchase Currencies May Be Used In its updated guidelines for apps in the Apple App Store unveiled on October 24, Apple Inc. said crypto exchange apps “may facilitate transactions or transmissions of cryptocurrency on an approved exchange.” In addition, such transactions can only be offered “in countries or regions where the app has appropriate licensing and permissions to provide a cryptocurrency exchange.” The technology company also clarified that crypto wallet apps “may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization.” However, according to the new guidelines, apps are prohibited f

Financial services companies Paypal and Western Union have each filed three new trademark applications covering a wide range of crypto services. Paypal’s applications are also for the payments giant’s logo. Paypal’s New Trademark Filings for Crypto Services Paypal Inc. has filed three new trademark applications with the United States Patent and Trademark Office (USPTO). Mike Kondoudis, a USPTO-licensed trademark attorney, tweeted Monday: Paypal has filed trademark applications for Paypal and its ‘overlapping Ps’ logo. The apps claim plans for exchanging, trading, and processing transfers of blockchain + digital assets, crypto + digital + virtual currencies … and more. Filed on Oct. 18, the applications’ serial numbers are 97636933, 97636892, and 97636857. An excerpt from one of the trademark applications explains that the trademark covers “downloadable software for sending, receiving, accepting, buying, selling, storing, transmitting, trading and exchanging digital currency, v

Britain’s former Chancellor of the Exchequer Rishi Sunak has become the country’s new prime minister, succeeding Liz Truss who resigned after 44 days in office. The leader of the Conservative Party previously said: “It’s my ambition to make the U.K. a global hub for cryptoasset technology.” Rishi Sunak Takes Office as U.K. Prime Minister Rishi Sunak, who served as Britain’s chancellor of the exchequer from 2020 to 2022 and chief secretary to the Treasury from 2019 to 2022, has become the prime minister of the U.K. He succeeded Liz Truss , who resigned after 44 days in office as prime minister. Sunak formally accepted his new role from King Charles during a meeting at Buckingham Palace on Monday after winning the Conservative Party leadership. Many people have called Sunak pro-crypto for his efforts to make Britain “a global hub for cryptoasset technology and investment,” as announced by the U.K. government in April. He said at the time: It’s my ambition to make the U.K. a globa

Treasury Secretary Janet Yellen has warned that financial stability risks could materialize in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector, as global developments have led to increased market volatility.” Janet Yellen Warns of Financial Stability Risks in U.S. The Secretary of the Treasury Janet Yellen warned about financial stability risks to the U.S. economy while responding to questions following her speech at the Securities Industry and Financial Markets Association (SIFMA) annual meeting Monday. Citing a “dangerous and volatile environment” for the global economy, including the surge in energy prices and increased volatility in financial markets, Yellen warned that in the United States: Financial stability risks could materialize. “We are closely monitoring the financial sector, as global developments have led to increased market volatility

Yellow Card, an Africa-focused cryptocurrency exchange platform, recently said it has received a virtual asset service provider (VASP) license to operate in Botswana. Granted by the country’s Non-Bank Financial Institutions Regulatory Authority, Yellow Card’s license allows the crypto exchange to bolster its operations on the continent. Working With Regulators The Africa-focused cryptocurrency exchange platform, Yellow Card, recently revealed it had received a virtual asset service provider (VASP) license to operate in Botswana. The licence, which was issued by Non-Bank Financial Institutions Regulatory Authority (NBFIRA), makes Yellow Card the first crypto exchange to be granted permission to operate in the Southern African country. Remarking on his company’s latest milestone, Chris Maurice, the CEO and founder of Yellow Card, spoke of how the license opens the door for more opportunities. He said: This opens up greater channels of expansion with regards to payment partners, ba

The United States Department of Justice recently filed a lawsuit to recover $60 million that was imposed on Larry Harmon, the operator of a bitcoin mixing service targeted by U.S. law enforcement in 2020. According to U.S. authorities, Harmon had operated an unlicensed money-transmitting business. Violation of the Bank Secrecy Act The United States Department of Justice (DOJ) is reportedly suing Larry Harmon, the founder of the crypto mixer Helix, to recover the $60 million fine imposed on him by regulators. According to a Reuters report , the fine, which was imposed in 2020 , stems from Harmon’s alleged violation of the United States federal Bank Secrecy Act. According to the Financial Crimes Enforcement Network (FinCEN), Harmon operated an unlicensed money-transmitting business. The business, according to U.S. regulators, enabled users to send virtual currencies anonymously. In 2021, Harmon reportedly pleaded guilty to a money laundering conspiracy charge and said he would cooper

The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New IRS Instructions for Tax Form 1040 The Internal Revenue Service (IRS) released its 2022 draft instructions for tax form 1040 last week. Form 1040 is the tax form used for filing individual income tax returns in the U.S. The new instructions contain several changes relating to cryptocurrency. The section titled “Virtual Currency” has been replaced with one titled “Digital Assets.” The IRS detailed: Digital assets are any digital representations of value that are recorded on a cryptographically secured distributed ledger or any similar technology. For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins. In contrast, NFTs and stablecoins

Bitcoin recorded another mining difficulty rise on Sunday, October 23, 2022, at block height 760,032 rising 3.44% higher. This means that not only is it 3.44% harder to find a bitcoin block subsidy, the network’s mining difficulty has also reached another all-time high (ATH) by tapping 36.84 trillion. Bitcoin’s Mining Difficulty Adjusts Upwards by 3.44%, Now at 36.84 Trillion This weekend, Bitcoin’s ( BTC ) mining difficulty jumped 3.44% higher than the height miners dealt with during the past two weeks or the last 2,016 blocks. The network’s difficulty has reached a lifetime high at 36.84 trillion, following the 3.44% shift on Sunday evening (ET). The rise on Sunday follows the 13.55% increase Bitcoin’s difficulty recorded on October 10, 2022, at block height 758,016. The 13.55% increase was 2022’s largest Bitcoin difficulty rise, and it took place as BTC ’s total hashrate reached an ATH on October 11, 2022, at block height 758,138. On October 11, the network’s hashrate reached

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to

Economist and gold bug Peter Schiff has warned that the United States Federal Reserve’s actions to rein in inflation could lead to a “massive financial crisis” or flight away from the dollar on a global scale. Meanwhile, Joe Biden says the economy is “strong as hell,” and Bank of America and JP Morgan also say the economy is in good shape. Outside of the world of state-created, centralized money, bitcoin has now been added to the Guinness Book of World Records. Economist Peter Schiff Warns Fed Action Could Lead to Market Crashes, Massive Financial Crisis, Severe Recession Gold bug and economist Peter Schiff says there are two possible outcomes of the Federal Reserve’s action on the U.S. economy. One outcome leads to “a massive financial crisis and severe recession” as stocks, bonds, and real estate crash. In the second outcome, “the world will run away from the dollar,” the economist stressed. Read More Biden Says US Economy Is ‘Strong as Hell’ — White House Claims the President

The party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has promised to set up an advisory committee to review regulations that govern blockchain and virtual asset services if it wins in the upcoming elections. The All Progressives Congress also said it “will work with the Central Bank and the financial sector to carefully review and better optimise the exchange rate regime.” A ‘Business-Friendly Regulatory Framework’ In its recently unveiled manifesto , Nigerian presidential aspirant Asiwaju Bola Tinubu’s party — the All Progressives Congress (APC) — said it plans to “establish an advisory committee to review the existing regulatory environment governing blockchain technology and virtual asset services.” The APC, which is also the party of current Nigerian President Muhammadu Buhari, added that where necessary the committee will propose changes that bring about “a more efficient and business-friendly regulatory framework.” According to the APC’s 80-page manifesto, the T