(Bloomberg) -- For much of this year, rising inflation has been bad news for gold. Now it’s giving the metal a shot in the arm. Most Read from BloombergWhy Hong Kong Is Building Apartments the Size of Parking SpacesFarmers Take on ‘Post-Apocalyptic’ Food CrisisGreece’s Popular Islands Are Crowded — With PlasticDo Prisons Deserve a Second Chance?While bullion is often bought as a way to protect wealth when consumer prices are climbing, this year’s inflation had weighed on the metal as investors b
The company has grown to become one of the biggest names in crypto by allowing anyone to use its service to trade myriad tokens, many of which are unavailable or limited on other exchanges. But over the past year, Binance has matured and begun to offer more formalized services. Following fiat currency exchange launches in the U.K., Uganda and Singapore, Binance is opening a dedicated U.S. exchange to avoid uncertainty around its legality.
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The result of this saw Bitcoin’s highest prices sliced in half in June, with the coin struggling to break out of the low to mid $30k price range until it received a welcome boost from Tesla founder Elon Musk in his appearance at major Bitcoin conference in July.
He was referring to the stringent regulation that forced most cryptocurrency exchanges to deploy separate trading platforms for U.S. customers only. Consequently, American crypto traders tend to operate on less liquid cryptocurrency exchanges.
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Now the country’s central bank, People’s Bank of China, has effectively banned digital coins after announcing all transactions of cryptocurrencies are illegal.
It will impose a 10 percent penalty tax fee on sellers and redistribute five percent of this tax to other people who already own the cryptocurrency.
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Similar to forex — foreign exchange — trading, there can be significant risks involved with a largely unregulated market, and your best bet is to get informed beforehand, and don’t invest any money you can’t afford to lose. Regulators are still trying to figure out how to classify cryptocurrencies, for purposes of trading, payments, antifraud, taxation, and more. Clear regulation may help us understand how to use cryptocurrency and what its future may look like, but we aren’t there yet.
Ethereum gained 1.66% to $4,808 and Dogecoin was trading 4.08% higher at $0.2837. Digital token Stellar climbed 3.56% to $0.3817 and XRP rose 0.01% to $1.27.
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ISTANBUL (AP) — A presidential decree published Saturday added cryptocurrency exchanges to a list of firms covered by Turkey’s terror financing and money laundering...
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As explained in its roadmap, the SafeMoon team hope to begin a "community listing donation raise for several exchanges" in Q3 2021. As of July 21, this has not yet started.
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If you’re investing in cryptocurrency, expect volatility to continue. That’s why experts recommend keeping your crypto investments to less than 5% of your total portfolio.