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Mike Novogratz: ‘Bitcoin will win battle for store of value’

The Hedge Fund manager, who is starting a $500 million fund to invest in cryptocurrencies, has declared that he believes Bitcoin is most likely to win out over other digital currencies over time. At a Coindesk-sponsored conference in New York, Novogratz said “I don’t think many of these are currencies, even bitcoin,” before also stating that ‘’Bitcoin will win the battle for store of Value’’. Novogratz’s Galaxy Digital Assets Fund would be the biggest of its kind at $500 million. This could signal an increasing acceptance of Digital Tokens as legitimate investments. This will be Novogratz comeback to money management...

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South Korea to introduce more legislation against cryptocurrency to fight money laundering

The anonymous, encrypted nature of cryptocurrencies such as Bitcoin and Ethereum have made them popular in some circles of illegal activity. As a relatively new type of currency, cryptocurrencies remain largely unregulated throughout the world, which means there is a lack of regulation in place to protect ordinary people and investors from fraud and other scams. Currencies like Bitcoin have proven especially popular with money launderers, particularly in certain parts of Asia. South Korea cracks down on money laundering South Korea is one of the world's top traders of cryptocurrencies. The country is home to one of the largest Bitcoin...

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Switzerland and Singapore the go-to places for ICO start-ups

The rise of cryptocurrencies, in the last few years, has been truly meteoric. Initially, both the speed at which the new market emerged and grew and the unfamiliar nature of the methods by which it functioned took regulators and national governments by surprise. Over the last year, however, there has been a noticeable trend towards tighter regulation - noticeably in the area of ICOs - and governments such as those in China and South Korea have banned the sale of digital coins entirely. While certain countries and international jurisdictions have long been regarded as more 'crypto-friendly' than others, many of...

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Angola has inflation of 25%, what if they bought Bitcoin?

Angola in southern Africa is currently struggling with high inflation levels of 25%. This has led to the Angolan Kwanza losing value rapidly, posing a big risk to the country's economy. High levels of inflation such as those Angola is currently facing not only damages the economy in general but makes life very hard for ordinary citizens. With the wages each Angolan takes home shrinking in real terms, it's becoming harder for working people to provide for their families. Could Bitcoin provide an answer? While there has been some negative press around cryptocurrencies from the established banking system, Bitcoin and...

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WARNING The IRS to tax Millions of Bitcoin Trades

To all US bitcoin traders you are now in the sights of the internal revenue service for not complying to report your trading gains. The IRS have decided that a share of up to $150 billion of bitcoin trades should go to the lovely US treasury, and is now taken steps to make this happen. All the IRS is waiting for, is a judge from San Francisco judge to grant an order that will allow an audit of one of the largest US cryptocurrency exchanges “Coinbase Inc”. The ruling will open the door for the IRS to investigate files of...

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