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On Thursday Cubaâs government said it would ârecognize and regulateâ Bitcoin and other cryptocurrencies for payments on the island, Bloomberg reported.
The local Cuban Official Gazette published a resolution which stated that the central bank will create rules for Bitcoin and other crypto to determine licensing laws for providers of crypto services on the island.
The resolution stated the Central Bank has power to authorize the use of Bitcoin and other crypto for âreasons of socioeconomic interestâ, according to Bloomberg. The resolution also said that the state will act as a check over the bankâs operations, and forbade the bankâs use of Bitcoin for âillegal activitiesâ.
âBecause of tough embargo rules in Cuba it has become difficult to use dollars, and as a result the popularity of Bitcoin has grown among Cubaâs technologically savvy.â
In other trending BTC News today: Midas Touch Director gives Bitcoin target of $100K or higher in coming months while Zoran Kole shared the following long term price prediction for the king cryptocurrency:
âFriendly reminder that you are likely living in the timeline where Bitcoin eventually goes to $14,000,000 per coin.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Friendly reminder that you are likely living in the timeline where Bitcoin eventually goes to $14,000,000 per coin.
â Zoran Kole [deleveraged] (@Captain_Kole1) August 26, 2021
https://bitcoinmagazine.com/culture/cuba-to-recognize-and-regulate-bitcoin-and-other-cryptos
Midas Touch Director Gives Bitcoin Target Of $100K Or Higher
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How the US Presidential Elections Impact Global Cryptocurrency Market
The US presidential election is a significant event with far-reaching consequences, not just for the United States but for the global economy as well. As the 2024 election approaches, with Donald Trump potentially facing off against Vice President Kamala Harris, the effects on various economic sectors, including the cryptocurrency market, are increasingly scrutinized.
The cryptocurrency market is particularly sensitive to geopolitical events, and the US elections are no exception. Bitcoin, along with other cryptocurrencies, tends to experience increased volatility during election cycles due to its decentralized nature and its growing role as a hedge against traditional financial systems. Investors closely watch the stances of leading candidates on regulations concerning cryptocurrencies, with the possibility of more stringent regulations under a new administration often leading to short-term market corrections.
For instance, the 2020 election saw Bitcoin prices fluctuate as candidates’ positions on digital assets became a focal point for investors. A similar trend is expected in 2024. If Donald Trump, known for his critical stance on Bitcoin during his first term, re-emerges as a strong contender, there could be renewed concerns about potential regulatory crackdowns. On the other hand, Kamala Harris, though not particularly vocal about cryptocurrency, represents continuity with the current administration, which has taken a more cautious approach to regulation.
As the race intensifies, market analysts predict that a Trump vs. Harris contest will bring heightened volatility to the financial markets, including cryptocurrencies. A Trump victory could spark fears of increased regulation, potentially dampening market enthusiasm. Conversely, a Harris win might maintain the status quo, with gradual progress in crypto regulation, providing a more stable environment for growth.
In conclusion, while the exact outcomes remain uncertain, the US elections will undeniably influence the global economy and the cryptocurrency market. Investors are advised to stay informed and prepared for potential shifts as the election date approaches.
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The Impact of Bitcoin and Cryptocurrencies on the Gambling Niche
The advent of Bitcoin and other cryptocurrencies has significantly transformed various industries, with the gambling sector (online casino) being one of the most affected. Cryptocurrencies offer numerous…
