Bitcoin Goes to Spain’s Congress of Deputies; All 350 MPs Receive BTC Donation

Bitcoin has found its way to the Congress of Deputies of Spain as the members of parliament experiment with the cryptocurrency through the courtesy of Tutellus, a Spanish blockchain-based educational platform, and local crypto media, Observatorio Blockchain. According to the report today, all 350 deputies in the lower house of the Cortes Generales became Bitcoin holders after receiving one euro ($1.18) worth of BTC as an experiment. Tutellus donated the BTC to the congress’ ten parliamentary groups since the initiative organizers could not access the email addresses of all 350 deputies on the congress’ website.  Explaining how the BTC was sent to

BIS, Central Banks Publish Criteria for Issuing Digital Currencies

A group of central banks, in collaboration with the Bank for International Settlement (BIS), has published a report, stating how Central Bank Digital Currencies (CBDCs) should be designed in order to align with the banks’ policy objectives.  Participants in the report include the European Central Bank (ECB), Bank of Canada, Bank of Japan, Sveriges Riksbank, Swiss National Bank, Bank of England, and the Federal Reserve.  In the 26-page paper published today, the banks stated that the research became imperative as fiat currencies’ demand keeps declining in some advanced economies.  Despite the decrease in demand for fiat, the participating banks noted that

Square Buys 4,709 BTC ($50 Million), Predicts Mass Adoption for Bitcoin

Popular US-based financial services company, Square has announced that it purchased approximately 4,709 Bitcoin (BTC) valued at $50 million.  According to a press release today, the firm said it made the investment because of the economic potential of BTC.  Square’s investment in Bitcoin represents approximately 1% of the firm’s total assets published for Q2 2020, the firm stated.  Amrita Ahuja, Chief Financial Officer at Square, said the firm is confident that Bitcoin will become a household asset and will gain mass adoption than other currencies in the future. As BTC grows in adoption, we intend to learn and participate in a

TRON Foundation Launches DeFi Protocol SUN on the TRON Blockchain

TRON Foundation announced today that it has launched SUN Genesis Mining to grant users access to its DeFi meme coin named SUN.  The Foundation made this known in a blog post today, stating that the initiative, which will kick-off on September 2, 2020, will be self-governed by its members just like other existing DeFi projects, including MakerDAO, Compound Protocol (COMP), Yearn.Finance (YFI), among others.  However, unlike other DeFi projects, SUN will run on the TRON blockchain, thus promoting the possibility of establishing TRON’s DeFi self-governance community and achieve the same result recorded on Ethereum in recent times.   Potential investors interested

CipherTrace Develops Monero (XMR) Tracking Tool for the US Security Agency

Leading cryptocurrency intelligence company CipherTrace has developed a tool that will enable the United States Department of Homeland Security (DHS) to track illicit transactions involving Monero (XMR).  The cryptocurrency intelligence company made this known today in a press release stating that the newly developed forensic tool would help the security agency eliminate the difficulties associated with tracking XMR transactions.  According to CipherTrace, the tool has been integrated with its Inspector financial investigations product and equipped with several functions, including transaction search, exploration, and visualization tools of all Monero transactions.  The firm noted that the tracking tool would also help restore the

OKEx CEO: DeFi Bubble Burst Will Be Good for BTC and ETH, But This Ain’t Going Away 

The decentralized finance (DeFi) sector has continued to boom as various projects, including Yearn.Finance (YFI), Balancer (BAL), and Compound Protocol (COMP) have recorded massive gains within a few weeks after their launch.   Early investors who invested in these projects at the time of their launch made huge returns, while more inventors are still trooping into the DeFi space to share its enormous wealth.  The massive growth of DeFi has prompted enthusiasts of popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) to move into DeFi, thus causing a decline in the market cap of these early digital currencies.  DeFi craze

Binance and Integro Foundation Raises $1M in Crypto to Fight COVID-19

In its fight against the deadly coronavirus (COVID-19) pandemic, Integro Foundation alongside Binance Charity Foundation has raised $1 million in cryptocurrencies to provide 500,000 KN-95 Masks for frontline workers and the vulnerable globally.  According to a press release shared with Coinfomania today, the Puerto Rico-based philanthropic organization made support of $330,000. At the same time, Binance doubled this donation, to boost the coverage of its “Crypto Against COVID” campaign across more nations.  The 500,000 KN-95 Masks will be shared equally to frontline workers and the vulnerable across different nations, including Brazilian Amazon, Argentina, Ghana, Nigeria, South Africa, Dominican Republic, Bermuda,