Cryptocurrencies to assume same status as foreign currencies in Russia

Adesola AfolabiJune 7, 2018

Alexei Moiseev, Russia’s deputy minister of finances (Minfin) has said the possibility of installing an exchange on the nation’s currency, ruble, against cryptocurrencies is not being ruled out. According to him, in such a case, cryptocurrencies will have the same status as foreign currencies and would be allowed to be changed to the ruble in […]

First African-focused cryptocurrency set for launch this year

Businessam StaffApril 9, 2018

Cryptocurrency

Trapeace Holdings, South African company is currently developing first-ever African-focused cryptocurrency, Africa Master Coin, which will be designed with a focus on the continent’s interests. The cryptocurrency set to be launched later this year, according to IOL, will aim to rival established players such as Bitcoin, but will be exclusively used within the continent for […]

Mandela’s golden hands goes for $10m, in bitcoin

Businessam StaffMarch 31, 2018

After more than a decade, a businessman in Canada has finally found a buyer for his prized collection of gold castings of former South African president Nelson Mandela’s hand. The final price? Ten million dollars – in bitcoin. Attempts by Malcolm Duncan, formerly of South Africa, to sell the hands back in 2007 were scuppered […]

Regulation, apathy hit bitcoin market

Businessam StaffMarch 30, 2018

Wild fluctuations in the bitcoin market have once again sparked debate among investors who believe it is merely undergoing a “correction” and those who see it as a costly fad. After a buying fever at the end of 2017 that sent the price of a token to nearly $20,000 and a spectacular fall at the […]

Bitcoin fall continues amid concern of ‘death cross’ sell-off

Businessam StaffMarch 30, 2018

Bitcoin and other virtual currencies declined Friday amid increased concern of a “death cross,” in a thinly traded holiday. Bitcoin was trading at $6,945.00, dipping 7.83% as of 10:56 GMT the Bitfinex exchange, not far from its overnight low of $6,692.20 The decline in Bitcoin was driven by talk of a so-called “death cross,” which […]

Bitcoin, other virtual currencies sink further as Google bans crypto, ICO ads in June

Businessam StaffMarch 14, 2018

Google said Wednesday morning that it will ban adverts for cryptocurrencies, initial coin offerings (ICO) and “other speculative financial instruments,” starting in June, as part of a wider effort to protect consumers from scams hidden behind rapidly growing high-risk financial products. Cryptocurrencies such as bitcoin and ICOs — a crowdfunding mechanism using digital currencies — […]

Cryptocurrencies rebound as bitcoin returns toward $10,000

Businessam StaffMarch 12, 2018

Crypto prices traded sharply higher on Monday, as Bitcoin climbed back towards the $10,000 mark after sliding 18% last week. Bitcoin was trading at $9,483.1 by 3:45 GMT on the Bitfinex exchange, jumped 10.7% over the previous 24 hours. Ethereum, the world’s second largest cryptocurrency by market cap, surged 5.8% at $719.99 on the Bitfinex […]

Cryptocurrencies fall after South Korea ban on government trading

Businessam StaffMarch 6, 2018

Bitcoin slumped on Tuesday amid regulatory concerns, as South Korea issued a ban on cryptocurrencies. Bitcoin was trading at $10,927, down 5.13% as of 12:59 GMT on the Bitfinex after hitting an overnight high of $11,642. Bitcoin has struggled to stay above $11,000 since it hit a two-month low of $6,000 in early February. South […]

UAE banks ban trading in bitcoin, others

Businessam StaffMarch 5, 2018

Foreign banks operating in the UAE have been banned from trading or purchasing virtual currency including Bitcoin and Ethereum, according to Coin Market Cap, a website which mainly deals with information on digital currency prices. The banks have notified their customers and employees not to use the banks cards to purchase any form of digital […]