Cryptocurrency

News of the week: cash in Spain and dealing with BTC in Venezuela

Between the information-highlights of the week is the proposal to remove the cash in Spain, an approach incorporated into a draft law that envisages a list of measures on the orientation of the tax system before the crisis caused by the COVID-19.

Meanwhile, the price of the main criptomoneda market, bitcoin opened the week by reaching beyond the threshold of the us $ 9.600, to fall below USD 9,000 to the 27 of June. At the time of writing this article, BTC is priced in USD 9.104, as was reflected in the market price of Latin america and Spain, according to the price calculator of Breaking News.

With Breaking News, interested parties can keep up to date on changes in the market prices of bitcoin, ether, bitcoin cash and litecoin, with relation to your local currency. To do this, you can visit the section of the Market is Latin, which has a pricing calculator to perform conversions quickly and easily to your national currency.

These are the news highlights:

In Spain, the proposal to eliminate the cash raised by the Spanish Socialist workers Party (PSOE) generates concern, especially in terms of privacy. The proposal of law presented to mid-June in the Congress of Deputies and is waiting for discussion before the Finance Committee, while the public debate revolves around the implications that might have for society.The Administrative Service of Identification, Migration and Alien affairs of Venezuela (Saime) enabled in its digital platform for the payment of passports with bitcoin for a little while. The option showed, especially for the applications made from abroad. While there is no official announcement about the new payment method, Breaking News generated a request for extension of passport using as a consular the located in Buenos Aires, Argentina, and the system showed as a payment option bitcoin.The ecosystem of cryptocurrencies of Colombia will advance to an update of the draft law almost two years ago. This is the conclusion reached by the panelists who participated in the debate on “Regulation of platforms blockchain and crypto assets”, held on the 24th of June. The panelists think that the project requires an update in order to adapt to the changing reality of ecosystem, taking into account that the discussions for its development dating back to more or less a year and a half.Jim Rogers, investor and co-founder of the Quantum Fund, believes that, if bitcoin is a success at being used as money, governments would intervene and declare to the criptomoneda as illegal. The investor expressed his views in an interview. He bases his assumption on that, as governments want to know everything, you will end up opting for delete bitcoin since they don’t have control over the criptomoneda.The analyst Tony Sheng published a message on Twitter in which he provides specific instructions to supposedly earn a 100% annual interest, through investment loans, decentralized in various platforms DeFi. He notes that in this sector, unlike in the sector of traditional finance, many lenders are not only willing to pay higher interest rates, but also offer additional bonuses to the borrowers.

Also:

An article published in the blog Liberty Street Economics Federal Reserve of the united States qualifies Bitcoin as money in the trust. The editorial note adds that the radical of the criptomoneda pioneer is your proposal for electronic exchange without a trusted third party. The document, published on the 18th of June, argues that the coins issued by the central banks are not money trust pure due to their “state legal tender”.The open source project State Channels launched a torrent client based on a web browser, Web3Torrent, which offers incentives for P2P sharing of files on Ethereum, using micropayments. Micropayments, says a posting on the blog of State Channels, are constructed using channels of state on Ethereum.

If you want to know the meaning of several words from the terminology of the criptomundo, you can reference the extensive Glossary of Breaking News.

Arbitration: a technique of investment based on the sale of an asset in different markets to profit from price differences. In simple terms, it comes to buy an asset at a low price in one market To, and sell them in market B at a higher price, earning the difference.

In Analysis with Breaking News

In this week’s edition of the audiovisual program dedicated to the analysis of the main news of the ecosystem, Hector Cardenas and Iván Gómez talking about the yield farming in DeFi of Ethereum, the names of users in purses and the rumors of Paypal getting into bitcoin.

Criptotutorial of the week:

Amazon can be a great place to find good deals on everything from books to smartphones. Purse.io, an online platform, allows you to make purchases on Amazon, provides discounts, as long as you pay in bitcoin.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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