Binance Now Offers Credit Card Purchases For Cryptos

According to news reports online, one of the largest cryptocurrency exchange in the world in terms of trading volume, Binance has recently allowed the purchasing of cryptocurrencies using credit card.

This new feature was made possible through a partnership with an Israel-based payment processing firm Simplex.

The new feature supports credit card purchases for Bitcoins (BTC), Ether (ETH), Litecoin (LTC) and XRP.

In turn this cryptocurrencies can be traded with 151 other tokens available in the exchange Binance’s CEO Changpeng

Zhao says that the crypto space needs fiat gateways to grow the crypto ecosystem .

Simplex was founded in 2014 and has gathered around $7 million USD in a Series A funding round back in 2016.
Notable investors during that time are Bitmain, Cumberland Mining and FundersClub (previously invested in Coinbase).

Last year in November Simplex j has also partnered with Singapore-based exchange KuCoin which enables users to buy Bitcoin, Ether and Litecoin.

Indian Private Law Firm Invited To Present Suggestions For Crypto Regulations

The Indian government have recently invited layers from Nishith Desai Associates to present their suggestions for the county’s crypto regulation.

This was initiated when the firm submitted a proposal for regulatory framework of cryptocurrencies.

The paper suggests avoiding prohibition, taking a balance approach, option for licensing and self-regulations for the nascent industry.

One of the authors of the recommendation Attorney Jaidepp Reddy said that the government is not legally bound to or accept suggestions from the public.

In addition to this, the lawyer said that the paper was prepared in an independent capacity and purely in public interest.

The paper were submitted to the government committee chaired by the Secretary of Economic Affairs, Chandra Garg.

The said committee is currently developing a regulatory framework for cryptocurrencies.

Nishith Desai Associates is the representative of the internet and Mobile Association of India (IAMAI) in its writ petition in the supreme court against the Reserve Bank of India (RBI) circular which banned banks from providing services to crypto businesses.

Crypto Giants Joins Funding Round For Staking-as-a-Service Startup Raising $4.5 Million

Crypto investment giants have recently concluded a $4.5 million funding round for Staked, a startup that provides institutional investors with the technical infrastructure for non-custodial staking services.

The investors include Pantera Capital, Coinbase Ventures, Winklevoss Capital, Fabric Ventures, Blocktree Capital, Global Brain and Digital Currency Group.

According to Staked CEO and co-founder Tim Ogilvie, there is a $25 billion of Stake-able crypto that’s coming online in the next 15 months which is a huge opportunity.

In addition to this the executive explains that by using the company’s platform investors will be able to compound their crypto by participating in the validation process of proof-of-stake blockchians

Currently the platform supports Tezos, Dash, Decred, Livepeer, Factom and EOS.

The latter two does not provide return for staking but investors have expressed extreme interest in having them supported.

Ogilvie states that there will be more than 20 coins will come online in this year.

It has been revealed also that the company is looking into lending as passive yield is a big opportunity as well said Ogilvie.

Fed Rate And Dow Jones Rebound May Fuel Bitcoin In Long-Term

After a dismal performance of the traditional stock markets in the U.S for the past month, it seems the market has finally shown some signs of recovering with S&P 500 up by 1.55% and Nasaq Composite increasing by 2.20%, even Gold has been good with a nice increase in price from $1.313 per oz to $1.320 per oz.

All of this happened due to Fed’s decision not to hike interest rates which was on constant pressure from the President Trump for its seeming ease of hiking target interest rates.

After weeks of anticipation for the Feds to hike interest rates it has apparently changed tone and will not be implement the measure.

They have stated that this is due to global economic and financial developments as well as lesser inflation pressure. It other words the Feds decided that policy rates won’t be increase due to an underlying positive shift in the macro-economy.

The move by the Fed’s will likely catalyzed the American government to impose the fourth round of quantitative easing (QE), the largest monetary experiment of all time where government have effectively pushed markets drastically higher- which birth Bitcoin.

Italia4blockchain Association Launched In Italy

The Blockchain scene in Italy have recently gotten boost with the emergence of the first trade association wholly devoted to Distributed Ledger Technology (DLT).
Italy appears to be lagging behind in this nascent industry but recent development might help it catch up in adopting DLT.

Dubbed as the Italia4Blockchain it will be the first Italian Association on DLT.

It was launched in Milan on Thursday January 31, 2019.

The main aim of founders of the organization is to provide a common venue for professionals who are participating in blockchain research, education and awareness.

It hopes to spread the emerging technology in the country.

With the first legislative act concerning DLT under way and the new aforementioned association, Italy might soon be of equal footing to the likes of Denmark, Germany, France, Malta and Estonia.

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