BITCOIN

Over the past ten years, fervent supporters of digital currency have engaged in intense debates: Is bitcoin ( BTC ) designed as peer-to-peer electronic cash as illustrated in Satoshi’s groundbreaking white paper, or does it serve as a digital store of value, similar to gold? Additionally, a central question emerges regarding the primary role of money: should its capacity as a medium of exchange take precedence over its value preservation attributes? The following Learning and Insights explainer delves into the Austrian school of economics, shining a spotlight on Carl Menger’s “On the Origins of Money.” From Spontaneous Social Institution to Currency: Menger’s Insight Into Money’s Evolution Rather than debating whether bitcoin (BTC) should function as a medium of exchange (MoE) or a store of value (SoV), this editorial aims to explore the primary consideration when something transitions into a monetary unit. In his book “ On the Origins of Money ,” Carl Menger, the father of Austria

Fifty U.S. lawmakers have reintroduced the CBDC Anti-Surveillance State Act to prohibit the Federal Reserve from issuing a retail central bank digital currency “while protecting innovation and any future development of true digital cash.” Congressman Tom Emmer stressed: “President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC. I don’t believe in compromising Americans’ rights.” CBDC Anti-Surveillance State Act Updated, Reintroduced U.S. Congressman Tom Emmer (R-MN) announced Tuesday that he and 49 other lawmakers have reintroduced the CBDC Anti-Surveillance State Act “to halt the efforts of unelected bureaucrats in Washington, D.C. from issuing a central bank digital currency (CBDC) that dismantles Americans’ right to financial privacy.” Rep. Emmer posted on social media platform X: “Today, with 49 of my Republican colleagues, I reintroduced the CBDC Anti-Surveillance State Act.” The congressman explained: If not de

Bitcoin dropped below the $25,000 mark late on Monday, as bearish sentiment intensified to start the week. The cryptocurrency has since rebounded, and as of writing is hovering marginally above the $26,000 level. Ethereum also declined, hitting its lowest level since March. Bitcoin Bitcoin fell to a three-month low towards the end of Monday’s session, as bears pushed the price below the $25,000 level. BTC /USD plunged to a bottom at $24,930.30, to start the week, which was its lowest point since June 15. The world’s largest cryptocurrency has since rebounded, with price peaking at $26,258.05 earlier in the day. Looking at the chart, the decline came as the 14-day relative strength index (RSI) briefly moved below support at 35.00. Bulls have since reentered the markets following the slippage, buying the dip, and pushing price strength to a current reading of 46.50. The next visible point of resistance appears to be at the 52.00 mark, and should price strength reach this point, B

About 52 virtual currency operators have shown interest in joining Taiwan’s financial market, the Financial Supervisory Commission has said. The commission also said that it is planning to announce the region’s first virtual asset management guiding principles sometime in September. Virtual Asset-Specific Laws Taiwan’s Financial Supervisory Commission (FSC) recently revealed that some 52 virtual currency operators have expressed interest in joining the Taiwanese financial market. According to the regulator, some of these operators have processed the legal documents on money laundering prevention while others have yet to complete this step. As explained in one local report , the FSC made these revelations during a public hearing conducted by a local legislator Guo Guow. In addition, the regulator also revealed that it is planning to announce sometime in September the first virtual asset management guiding principles. The report also suggested that authorities in the region have how

With the issue of inflation rising as a real problem for global economies last year, there has been a renewed need for people to seek a way of preserving their purchasing power. Flatcoins, stable currencies that change their value according to the inflation in a determined jurisdiction, have surged as a crypto-based solution for the issue. Flatcoins and Their Proposal The problem of rising inflation has gained notoriety this year as large world economies that had traditionally kept prices relatively under control were affected by a loss of purchasing power. For example, U.S. inflation touched 9.1% during 2022, reaching one of its highest levels since 1981. This rise prompted a swift response from the Federal Reserve, which started hiking interest rates to address inflation. However, the problem of losing purchasing power remains for citizens and companies that have to deal with these price distortions. Flatcoins are designed to address this issue by proposing inflation-adjusted s