WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
In no time, all the Binancians and the entire crypto world will soon jubilate as Binance.US prepares to list Axie Infinity (AXS) on its platform today. According to the announcement, right after the listing event, Binance.US will open a full-time trading section for AXS/USD and AXS/USDT pairs.
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“Every single day, the concept that it could be worth something, it could be a store of value is being continually approved by more large, powerful entities,” Johnson says, pointing to established financial institutions holding digital currencies and large corporations adding them to their corporate balance sheets. “The idea that it’s actually worth something is continuing to grow as adoption and acceptance continues to grow as well.”
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Bitcoin’s price spiked above its previous record high of $67,700 seen in late October on Tuesday morning in a continued surge of support for the world’s most popular cryptocurrency.
Also, several businesses now receive bitcoin as payment for goods and services – another reason why it is a wise investment. For instance, Visa transacts with BTC, and in February, Tesla announced that the company has invested $1.5 billion in BTC and will also be accepting it as means of payment for its cars. Additionally, the large banks are already incorporating BTC transactions in their offers too.
The second-largest crypto by market capitalization holds its position firm against its hurricane-like hurdles. $ETH… https://t.co/mBER1jg0bC
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A cryptocurrency is, most simply, a digital asset. It is called a currency because it was created to work as a medium of exchange in the same way that we use fiat currencies now.
Every cryptocurrency transaction is recorded in a public ledger known as the blockchain, which is the technology that makes it possible for it to exist. This allows people to follow the history of cryptocurrencies like Bitcoin to prevent them from spending coins they don't own, copying transactions, or undoing them. Because blockchain intends to eliminate intermediaries such as banks and internet marketplaces, there are no transaction costs.
Still, an increasing number of big, powerful players are validating crypto’s potential.
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Mainstream companies across industries have taken interest — and in some cases themselves invested in — cryptocurrency and blockchain in 2021. AMC, for example, recently announced it will be able to accept Bitcoin payments by the end of this year. Fintech companies like PayPal and Square are also betting on crypto by allowing users to buy on their platforms. Tesla continues to go back and forth on its acceptance of Bitcoin payments, though the company holds billions in crypto assets. Experts predict more and more of this buy-in.
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Here is Bitcoin’s price today, why Bitcoin is up and the latest crypto news and prices for Ethereum, Shiba Inu coin, Dogecoin, XRP and more.
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