Dogecoin becomes the 7th cryptocurrency accepted on Coinbase Commerce

Coinbase Commerce, the e-commerce arm of the United States-based crypto exchange, has added support for Dogecoin payments. According to a Twitter announcement, Dogecoin became the seventh cryptocurrency for merchants to accept payments on Coinbase’s e-commerce portal. The platform currently supports Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) along with stablecoins Dai (DAI) and USD Coin (USDC). An integration with Coinbase.com enables Coinbase Commerce customers to convert their crypto payments into U.S. dollars, euros, pounds or USDC without leaving the e-commerce portal. According to a blog post dated October…

SEC Chairman says cryptocurrency falls under security-based swaps rules

The Securities and Exchange Commission, or SEC, may soon issue new rules for the regulation and registration of security-based swaps, including cryptocurrency. In a speech to the American Bar Association Derivative and Futures Law Committee SEC Chairman Gary Gensler laid out the changes coming to security-based swaps over the next year. The changes are designed to increase transparency and reduce risk to the market. The new requirements that will go into effect in November include new counterparty protections, requirements for capital and margin, internal risk management, supervision and chief compliance…

New EU proposal looks to tighten regulations for sending cryptocurrency

The European Commission has submitted a new proposal which would require crypto-asset service providers to collect additional anti-money laundering, or AML, information from users who utilize cryptocurrency for money transfers. The stated purpose of this proposal is to prevent the further propagation of money laundering activity within the EU. Under this proposal, service providers conducting transfers must have the name of the originator of the transfer, account number, where the account exists and is used to process the transaction. The originator’s address, official personal document number, customer ID number, or…

S&P Dow Jones Indices launches new cryptocurrency indexes

S&P Dow Jones Indices, the leading index provider of some of the world’s largest equity benchmarks, has launched a new cryptocurrency index that tracks the performance of the broader digital asset market.  The S&P Cryptocurrency Broad Digital Market Index, labelled BDM, tracks more than 240 digital assets at launch and represents an expansion of the firm’s recently launched crypto benchmarks. In addition to BDM, the company also launched four other crypto-focused indexes on Tuesday, each tracking various components of the broad digital market benchmark. These include: S&P Cryptocurrency LargeCap Index…

Trust is still a must in the trustless world of cryptocurrency

As established by Satoshi Nakamoto’s Bitcoin (BTC) whitepaper, the core of cryptocurrency is a peer-to-peer electronic cash system that eliminates the need for intermediaries like banks. This spirited independence and scoffing at the hand-holding of traditional banking systems is pervasive across the cryptosphere. Yet, when mass adoption is the goal, some hand-holding becomes necessary in order to bring everyone along on the journey toward truly decentralized finance. We cannot expect our grandparents — who have difficulty sending an email — to sort out how to manage private keys, seed phrases…

Visa Has Handled $1 Billion in Cryptocurrency This Year

Key Takeaways Visa reported that it has handled $1 billion in crypto so far this year. The company highlighted that it is working with over fifty cryptocurrencies on Visa-powered payment cards. Visa also announced that FTX would join its FinTech fast track program today and pay 50% of its employees in UDSC. Share this article Leading payments firm Visa stated that it has processed more than a billion dollars in cryptocurrency during the first half of 2021. $1 Billion in First Half of 2021 “With more than $1 billion spent…

Are cryptocurrency ransom payments tax deductible?

About 2,000 years ago during its Han dynasty, China made peace with some of the nomadic people of Central Asia who continuously ransacked Silk Road traders for an easy payday. It did so in order to fully establish the Silk Road trade route, which stretched from China to Europe, and to secure a great source of wealth from trading in luxury goods. Now, as trade increasingly has shifted to the digital realm during the global COVID-19 pandemic, cyberattackers are taking advantage of organizations’ lax cybersecurity measures. They are using ransomware…

Cryptocurrency and the rise of the user-generated brand

In the whirl of excitement and debate over where cryptocurrencies are going and whether they are legitimate, sustainable and prudent investments, there is an overshadowed conversation of interest to those in marketing: Are Bitcoin (BTC), Ether (ETH), Cardano’s ADA, Litecoin (LTC), XRP, Dogecoin (DOGE), etc., crypto brands? And, if so, how are those brands created, and what role do they play in each coin’s adoption? Or, for that matter, how does branding collectively contribute (or detract) from the legitimacy of a cryptocurrency as it seeks increased mainstream acceptance/use? Related: Decentralization…

House committee reviews cryptocurrency risks, regulations in hearing

The U.S. House committee on financial services held a hearing Wednesday for legislators and a panel of witnesses to discuss cryptocurrency regulation in the United States. The subcommittee on oversight and investigations invited expert witnesses to testify before congress on the risks and opportunities of blockchain technology. Rep. Brad Sherman (D-MN), a ranking member of the House Financial Services Committee, was not keen on the idea of investing in cryptocurrency to save for retirement: “Cryptocurrencies are highly volatile, so if one person makes a million dollars and retires at age…

Cryptocurrency: The future of futures?

Many traders entering cryptocurrency markets from traditional finance may look to derivatives as vehicles for price speculation and hedging. There are plenty of choices when it comes to exchanges and instruments; however, traders should consider a few key differences between crypto futures and traditional futures before dipping a toe into this rapidly growing market. Related: 3 things every crypto trader should know about derivatives exchanges Different instruments Traders entering cryptocurrency from the traditional markets will be accustomed to futures contracts with a fixed expiration date. Although fixed expiration contracts can…