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A resolution published in the Official Gazette said the Central Bank will set rules for such currencies and determine how to license providers of related services within Cuba.
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According to Cointelegraph business editor Sam Bourgi, Bitcoin is viewed by many as the best “hard money” alternative to sovereign currencies and:
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However, while there are some organisations that accept it as currency, others shy away due to Bitcoin’s dramatic price swings. Driven largely by speculation, the price per Bitcoin rose sharply from $1,151 in January 2017, to an all-time high of $19,783 in December the same year.* It then dropped to below $7,000 by February 2018 and rallied again to around $11,000 over a matter of days, before plunging once more to trade below $4,000. Subsequently, one of the key characteristics of Bitcoin that traders should understand is its potential for extreme volatility.
If current trends continue, observers predict that the last Bitcoin unit will be mined sometime in the mid-22nd century, for instance — not exactly around the corner.
Some experts have already expressed concern that the inclusion of the Binance Coin on the platform may prove controversial in the United States. While Binance.US is described as a subsidiary, its business model might draw attention from the U.S. Securities and Exchange Commission based on the fact that BNB token acts as both a security and a utility token. As such, it could pass the so-called Howey test for being security, thus potentially becoming a snag on the Binance’s path to establishing itself in the US.
According to a tweet from the official SafeMoon Twitter account, the problems affected all three wallet products. Namely, the website buy and swap function, the Android wallet, and its iOS counterpart.
Brooks quit his role at San Francisco-based Binance.US, citing "differences over strategic direction" in the Twitter post. He worked only three months at the company, which is the American counterpart to Binance — the Chinese company that operates the largest cryptocurrency exchange by volume.
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And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
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The global cryptocurrency market cap has grown by 2.63 percent over the previous day to $2.94 trillion, data from coinmarketcap.com shows.
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Bitcoin–and the cryptocurrency industry as a whole–plunged this year, after a gravity-defying surge in recent years. The price of the digital coin hit nearly $20,000 late last year. And then in early 2018, it began to fall. Though it hit a few plateaus, the price has still tumbled; today it hovers at a little over $3,000.