Cryptocurrency existed as a theoretical construct long before the first digital alternative currencies debuted.
Pa´stor, L. and P. Veronesi (2003), “Stock valuation and learning about profitability”, The Journal of Finance 58 (5), 1749–1789.
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Indeed, Amazon has recently sparked rumors that it’s making moves to that end by sharing a job posting for a “digital currency and blockchain product lead.” Walmart is also recruiting a crypto expert to oversee its blockchain strategy.
Note that backing up a wallet doesn’t duplicate the actual cryptocurrency units, merely the record of their existence and current ownership.
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Shibu Inu is a cryptocurrency token that allows users to hold trillions of them. Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.
China announced in September that all cryptocurrency transactions in the country are illegal, effectively putting the brakes on any crypto-related activities within Chinese borders. In the U.S., things are less clear. Federal Reserve Chair Jerome Powell said recently that he has “no intention” of banning cryptocurrency in the U.S while Security and Exchange Commission Chairman Gary Gensler has consistently commented on both his own agency’s and the Commodity Futures Trading Commission’s role in policing the industry.
But whether that growth is sustainable, and what it means long-term, is still in question. “This crypto, blockchain technology, the public interest in it right now is being driven by a kind of speculative fever,” says Dr. Richard Smith, executive director of the Foundation for the Study of Cycles, a nonprofit organization dedicated to studying recurring patterns throughout economies and cultures.
GURA: Davidson also fears too much regulation could harm investors and entrepreneurs, but he thinks inaction is also a risk. Davidson says when he goes back to his district in Ohio, his constituents ask him when Congress is going to get around to setting ground rules.
— Ivelisse Porroa-Garcia is now director of government affairs at Ferox Strategies. She previously was policy director for the Congressional Hispanic Caucus.
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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
Many lesser-used cryptocurrencies can only be exchanged through private, peer-to-peer transfers, meaning they’re not very liquid and are hard to value relative to other currencies — both crypto- and fiat.
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A top official said Zimbabwe is looking to allow cryptocurrency as legal payment, according to a local report Sunday.
FIRST IN PI — VIATRIS’ JASO JUMPS TO BROWNSTEIN: Joe Jaso is joining Brownstein Hyatt Farber Schreck’s government relations team as a policy director working on state and federal issues. He joins the firm from Viatris, the company formed through the merger of Pfizer’s Upjohn and Mylan, where he was head of U.S. state government affairs. He was Mylan’s head of state government affairs prior to the merger. He was also vice president of federal affairs at McGuireWoods Consulting and a vice president at Dutko Worldwide.