Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies. Recently, Prime Minister Modi in his address at the India Ideas Summit by the US-India Business Council highlighted blockchain to be an ‘opportunity in frontier technology’ and the country being a haven for investors around the globe. As this news provides a sense of revived hope in terms of how blockchain and cryptocurrencies would look… The total crypto market capitalization has reached $300 billion for the first time since mid-February, which is a huge positive as it suggests increased investor … Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, ADA, XMR, CRO Read More » These small-business owners are succeeding thanks to growing demand for their particular products and services. Image: Jacobs / Stringer (Getty Images)According to a public letter from the U.S. Comptroller of the Currency, the federal group responsible for the securi…
India’s Blockchain Framework -Where do we stand right now?
Recently, Prime Minister Modi in his address at the India Ideas Summit by the US-India Business Council highlighted blockchain to be an ‘opportunity in frontier technology’ and the country being a haven for investors around the globe.
As this news provides a sense of revived hope in terms of how blockchain and cryptocurrencies would look in the Indian landscape, let us go down the path to see how our responses in the past have been, for adapting towards such technologies as part of our the economic structure in the country, alongside our action towards the usage of cryptocurrencies in the country.
In a letter published in November 2019, Sanjay Dhotre, India’s Minister of State for Electronics and Information Technology (MeitY), stated that the Indian government is developing a National Level Blockchain Framework and is currently preparing an approach paper.
In January, 2020, NITI Aayog had come up with a report that looked at how India can adapt blockchain technology in order to uplift various sectors around the country. The basic takeaways from this report included NITI Ayog explaining the idea of blockchain, showing how it would benefit the government, what is the current scenario of blockchain development in terms of skill and manpower, and what suggestions could be made in respect to how sectors like healthcare, education, property etc to benefit from this framework. They also conducted Proof of Concept (POC) pilot programs that tackled practical implementations of their suggestions in four areas in an attempt to assess the power of distributed ledgers in providing enhanced efficiency and improved possible hurdles in execution, like track and trace’ of drugs in the pharma drug supply chain, claim verification and approval in the disbursement of fertiliser subsidies, verification of university certificates, and transfer of land record ownership. A second part of this report, which is to include different recommendations for using blockchain technology in India, has yet to be released by NITI Ayog.
On the other hand, the usage of cryptocurrencies in India has always been the subject of speculation. In 2018, the Reserve Bank of India (‘RBI’) had blocked any financial dealings with crytocurrencies vide a circular. However, in March 2020, the Supreme Court had lifted the ban placed by the RBI, allowing banks to deal with cryptocurrencies and related services. Despite the uncertainty of regulations that revolve around the usage of cryptocurrencies in the country, there has been a massive rise in its trade, in terms of individuals and entities participating. However, the current Finance Ministry’s stance looks leaning towards an eventual banning of digital assets. In a recent webinar on 17th July, former Finance Secretary of India, Subhash Chandra Garg, discussed the potential of centralization of a digital currency, and that crypto assets can be used as regulated commodities but must not be allowed to function as currencies in India. He said that the ‘ban would only forbid cryptocurrencies insofar as they functioned as currencies. They would still be available for trade and investment, such as commodities, but must be regulated in a similar fashion’.
Now, as we look the PM Modi’s address towards the promotion of blockchain technology in the country, the introduction of a digital currency looks like a possible route to explore, and it shall be interesting to see how our policy experts would comment and act upon the same, over the due course of time. However, since there is a bill pending before the parliament that calls for a ban for cryptocurrencies, only time will tell us how our newfound regulations will help us make most out of these two technologies in consonance.
Author: Authors W-Investment
Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, ADA, XMR, CRO
The total crypto market capitalization has reached $300 billion for the first time since mid-February, which is a huge positive as it suggests increased investor interest in cryptocurrencies. The interest has largely been in smaller altcoins with Bitcoin (BTC) taking a back seat until early this morning.
Even Ether (ETH) recently joined the altseason party and once it broke out of its resistance the price skyrocketed higher. This could have resulted in a missed opportunity for several traders who did not buy on the breakout.
Now, traders are likely to expect a similar move from the top-ranked cryptocurrency on CoinMarketCap as it has also been range-bound for a long time.
Crypto market data daily view. Source: Coin360
Therefore, several bulls are likely to start buying Bitcoin without waiting for it to breakout and short positions are likely to cover, which could provide the needed push to carry the price above the stiff overhead resistance. As the momentum picks up, there could be a buying stampede as traders fear missing out on the rally.
The upcoming week is critical as it will provide insight into whether the altcoins will continue to lead the market or if Bitcoin will join in and shift traders’ focus away from altcoins.
Bitcoin (BTC) broke above the $10,100 level today for the first time since early-June, which is likely to boost sentiment. However, the bears are unlikely to give up without a fight as they will aggressively defend the $10,000–$10,400 resistance zone.
BTC/USD daily chart. Source: TradingView
Currently, the price has dipped back below the $10,000 levels but the positive thing is that the bulls have not given up much ground. This suggests that minor dips are being purchased.
This change in sentiment increases the possibility of a break above the $10,400 resistance. If the price sustains above $10,400, it could result in short covering and aggressive buying by the bulls.
Such a move could quickly carry the price to $11,870.50, which is the pattern target of the breakout from the bullish ascending triangle pattern.
A breakout and close (UTC time) above $10,400 will also complete a bullish inverse head and shoulders pattern that has a target objective of $16,997. However, this target is likely to be achieved in the medium-term as the bears will aggressively defend the $14,000 levels.
This bullish view will be invalidated if the price turns down from the current levels and breaks below the trendline of the ascending triangle.
BTC/USD 4-hour chart. Source: TradingView
Both moving averages are sloping up and the relative strength index is in the overbought zone, which suggests that the bulls have the upper hand. The price is currently consolidating between the $9,800–$10,000 level, which is a positive sign.
If the bulls can again push the price above $10,000 and sustain the higher levels for four hours, a move to $10,400 levels is likely. A break above this level will be a huge positive and could result in a sharp move higher.
This bullish view will be invalidated in the short-term if the bears sink and sustain the price below the 20-exponential moving average. Such a move will indicate that the momentum has weakened and could lead to a minor consolidation.
After consolidating for about two months, Ether (ETH) broke above the $253.556–$216.006 range on July 22. This breakout attracted buying by the bulls who had been waiting on the sidelines for the up move to resume.
ETH/USD daily chart. Source: TradingView
The aggressive buying quickly pushed the second-ranked cryptocurrency on CoinMarketCap to the first target level of $320. The relative strength index has risen above the 80 levels, which suggests that the rally has become overbought in the short-term.
As the price is close to a stiff resistance, profit booking by the short-term traders is possible, which could result in a minor correction or consolidation. In a strong uptrend, the pullbacks usually last for one to three days, after which the uptrend resumes. If the bulls can propel the price above $320, the next level to watch out for is $366.
ETH/USD 4-hour chart. Source: TradingView
The 4-hour chart shows that the ETH/USD pair did not even correct to the 20-EMA after breaking above $253.556. The RSI has been trading in the overbought range, which suggests that the trend is very strong.
If the bears can sink the price below $300, a drop to the 20-EMA is possible. A bounce off this support will indicate that the bulls continue to view the dips as a buying opportunity. The uptrend is likely to pick up momentum once again if the price closes (UTC time) above $320.
Contrary to this assumption, if the bears sink and sustain the price below the 20-EMA, the pair could consolidate for a few days.
Cardano (ADA) broke above the symmetrical triangle and made a new 52-week high, which indicates that the uptrend is strong and the bulls continue to buy at higher levels as they expect the rally to extend further.
ADA/USD daily chart. Source: TradingView
Usually, after breaking out of a pattern, the price retests the breakout levels but If the trend is strong only a consolidation occurs.
Currently, the sixth-ranked cryptocurrency on CoinMarketCap is facing profit booking at $0.1543051, which could result in a minor correction or consolidation.
If the price rebounds off $0.13 aggressively, the bulls will attempt to resume the up move and extend the rally to $0.173 and then to $0.20. This bullish up move will be invalidated if the bears sink the price below $0.12.
ADA/USD 4-hour chart. Source: TradingView
The 4-hour chart shows that the ADA/USD pair picked up momentum after breaking out of the triangle and surged to $0.1543051 levels, which pushed the RSI deep into the overbought zone.
History suggests that the pair corrects when the RSI rises above the 80 levels. The current pullback is likely to find support at the 20-EMA. A strong rebound off this level will indicate strength and increase the possibility of the resumption of the uptrend.
Monero (XMR) had been consolidating between $60–$70 for two months. This range resolved to the upside with a breakout and close (UTC time) above $70 on July 22, which suggests that the bulls have overpowered the bears.
XMR/USD daily chart. Source: TradingView
The immediate target of the breakout from the range was $80 and the price had reached a high of $79.10 today. The bears might now attempt to pull the price back into the range, hence, a retest of the $70 levels is possible.
If the 16th-ranked cryptocurrency on CoinMarketCap rebounds off this support, then it will act as a new floor and signal the possible start of a new uptrend.
The first target on the upside is $85 and if the momentum can scale this level, then the rally could reach $95. This bullish view will be invalidated if the bears drag the price back below $70.
XMR/USD 4-hour chart. Source: TradingView
Both moving averages on the 4-hour chart are sloping up and the RSI is in the positive territory, which suggests that the bulls have the upper hand. The XMR/USD pair had reached overbought levels on the RSI, hence, a minor correction or consolidation is possible.
The first support on the downside is likely to be the 20-EMA. A strong rebound off this level could offer an entry opportunity to the traders but if this support breaks, it could signal a deeper pullback to $70.
Crypto.com Coin (CRO) is in a strong uptrend as it continues to make higher highs and higher lows. Both moving averages are sloping up and the RSI is in the overbought zone, suggesting that bulls are in command.
CRO/USD daily chart. Source: TradingView
The bulls have pushed the ninth-ranked cryptocurrency on CoinMarketCap above the $0.15306–$0.15416 resistance zone. If the price closes (UTC time) above this zone, it will increase the possibility of a move to $0.174114 and then to $0.20.
However, if the bulls fail to sustain the price above the resistance zone, a minor correction or consolidation is possible. The bullish view will be invalidated if the bears sink the price below the 20-day EMA ($0.143).
CRO/USD 4-hour chart. Source: TradingView
The 4-hour chart shows that the CRO/USD pair dips when the RSI rises close to 75 levels. The first level to watch out for is $0.15306 and below that the 20-EMA, which usually acts as a strong support when the trend is strong.
However, if the bears sink the price below both these supports, then a drop to the 50-simple moving average and below that to $0.14 is possible. Such a move could signal weakening momentum and result in a few days of consolidation.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Cannabis, whiskey, and mobile bike repair: These entrepreneurs are thriving in the pandemic
Running a small business can be daunting in the best of times. Throw in a pandemic and it can be devastating. But some older entrepreneurs are thriving during COVID-19 because of growing demand for their particular products and services. Here are three of their stories:
Joe Sandschulte, 66, spends his days driving his Bicycle Fixer van through the streets of suburban Seattle. He can’t keep up with the demand for his mobile bike repair service. Sales this spring were up about 50% over last year because the COVID-19 stay-at-home orders have led more people to bike rather than drive.
Bike shops have seen an uptick in sales nationwide with the boom in socially distanced recreation and transportation. But mobile bike repair services like Sandschulte’s are especially hot, given continuing fears about going back into brick-and-mortar stores.
“I still see three or four clients a day. But instead of repairing one bike, I will repair a whole family’s worth of bikes — three or four. People love the convenience,” Sandschulte says.
He left his position as a bike shop service manager seven years ago to open the mobile business. At the time, his wife worried about her husband giving up benefits and a steady paycheck.
Things were tough at first. “The first year, it wasn’t exactly raining money,” Sandschulte recalls.
But he built up his business with a steady clientele of home and corporate clients who don’t miss lugging their bikes to the repair shop.
Also see: This entrepreneur says you’re never too old to launch your own startup, even in this economy
These days, Sandschulte loves working on his own and is committed to giving quality service to every bike owner, whether it’s an old hand-me-down or a $10,000 custom-built racing bike.
He plans to ride the business into his 70s. “I’m doing my own thing. I just love the freedom,” Sandschulte says.
In September 2019, Rebecca Myers — who describes herself as over 50 — opened FarmaceuticalRX, a medical marijuana grower and processing facility, inside a former steel mill in western Pennsylvania. Six months later, the pandemic hit, and Myers worried she’d have to shut it down.
But that didn’t happen.
The reason: Pennsylvania Gov. Tom Wolf deemed medical marijuana an essential business.
“Who would have thought the day would come that the government deemed a medical marijuana business essential?” says Myers. “But we all know it’s true. Patients need us more than ever during this incredibly anxious and emotional time.”
Myers has also weathered the pandemic storm by being proactive.
After reading early reports of the devastation of COVID-19 in China, she implemented social distancing, masks and gloves inside the plant. If employees have COVID-related symptoms and exposure, they get paid sick leave.
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FarmaceuticalRX currently sells its products in dispensaries throughout Pennsylvania and operates a dispensary in Ohio. Myers plans to start cultivating and processing in Ohio, too.
This career path was never one she envisioned.
“If you had told me 20 years ago that I would be running a business that grew marijuana, I would have laughed,” says Myers. Previously, as a former district attorney in the Bronx, she prosecuted drug and other crimes. She has also worked in the opiate treatment industry.
And the former Division 1 basketball player — Myers was starting point guard at Fordham University — had never partied like other college students. But then a family medical crisis made her realize the urgent need for medical marijuana.
A cousin was diagnosed with osteosarcoma (a type of bone cancer) and had his leg amputated; medical marijuana was the only thing getting him through the punishing chemotherapy treatments. But it was still illegal in Ohio.
Myers ran into many people with similar stories about sick loved ones who couldn’t get medical marijuana.
So she spent $14 million to renovate two buildings from the former Sharon Steel Corp. in Farrell, Pa.
But since “I don’t have a green thumb,” she says, Myers traveled around the country to interview the best organic growers. She also began partnering with Penn State University, Case Western Reserve University and Harvard Medical School’s Dana–Farber Cancer Institute on medical research.
Aside from wanting to get medical marijuana to people who needed it, Myers also yearned to bring jobs back to a region that struggled for decades following the collapse of the steel industry.
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Currently, her company has 77 employees at its two locations. “There are a lot of wonderful people with a great work ethic,” Myers says.
Mark Meyer, now 69, was preparing to retire from being a lawyer when his adult children approached him with an idea: starting a family microdistillery. He and his wife, Mary Ellen, a retired occupational therapist, were shocked.
“We weren’t even whiskey drinkers. We drank a little wine,” Mary Ellen says.
But the idea grew on them, and Wigle Distillery, which makes craft whiskey and other spirits, was born in 2012. The first distillery to open In Pittsburgh since Prohibition, it was named after a founder of the Whiskey Rebellion.
A Whiskey Rebellion of a different kind erupted in Pennsylvania in March 2020 when Pennsylvania liquor stores closed due to the COVID-19 pandemic and customers howled in protest. To make things worse, the initial version of the state’s online ordering system was a glitch-filled failure.
Meyer was able to benefit from the Whiskey Rebellion because he had convinced the Pennsylvania Liquor Control Board to allow the same mail-in service granted to state stores years ago. That part of his business had never gained traction until the pandemic hit.
Wigle has also been offering curbside pickup services during COVID-19.
In addition to helping his customers, Meyer says the changes in his business have been a “lifesaver” for his award-winning craft brewery.
The new mail-order service has helped Wigle Distillery survive after its six retail locations were ordered closed in March. The company reopened one retail location in June.
For all the ups and downs, Meyer says he believes whiskey is as recession-proof as any business.
“If spirits can survive Prohibition, it shows just how resilient it is,” he says.
Author: Cristina Rouvalis
Banks Can Now Hold Cryptocurrencies, As a Treat
According to a public letter from the U.S. Comptroller of the Currency, the federal group responsible for the security of the banking system, banks are now allowed to hold cryptocurrencies.
This doesn’t mean you’ll be stacking Sats in an FDIC insured account at Chase. Instead, banks will be allowed to offer cryptocurrency wallets and “hold the keys associated with cryptocurrency,” according to the letter by Senior Deputy Comptroller and Senior Counsel Jonathan Gould.
“The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers,” Gould wrote.
Why the sudden move toward crypto? The current head of the OCC, Brian Brooks, is a former crypto exchange executive turned regulator and his experience—and his Silicon Valley contacts—have led him to improve conditions for crypto on Wall Street.
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This decision is, as they say, probably not good for bitcoin.
In general, anything that smacks of potential regulation drives cypherpunks up the wall and this letter, while great for folks who want to turn fiat currency into crypto and vice versa, basically says that banks will have far more control over how and when startups and enterprise companies can store and transact in crypto.
Gould wrote that the letter “reaffirms the OCC’s position that national banks may provide permissible banking services to any lawful business they choose, including cryptocurrency businesses, so long as they effectively manage the risks and comply with applicable law.”
The markets rose on the news with BTC hitting a high of $9,400 and Ethereum getting a small boost.