Bitcoin is the most popular cryptocurrency and over the past couple of years, we have seen myriad versions of bitcoin. The BTC Lite is the newest kid on the block and is quite different from rest of the bitcoin clones we have seen so far. The bitcoin lite, or BTC Lite, as they like to call it is an ERC20 version of Bitcoin. So what does this mean?
ICICI Bank has issued a warning to the credit card users and account holders about bitcoin and forex trading in overseas market. This is what they are saying in the email, “Under the Foreign Exchange Management Act (FEMA), 1999, a resident Indian is permitted to make only those foreign exchange transactions on ICICI Bank Cards or Account that are permissible and remittance in any form towards overseas exchange trading through internet/ electronic trading portals is not permitted. Indian residents are therefore prohibited from trading in foreign exchange in domestic and overseas market, including binary option trading with commodities, stocks, indices, bitcoin index and forex etc. “
Banks have been asked by Reserve Bank of India in an informal communication to stay away from dealing with bitcoin / cryptocurrency exchanges in India. All Indian banks are no longer allowing the users to deposit or withdraw money to their banks. All the cryptocurrency exchanges in India were raided by tax department last month where they took data of all users for hiding the wealth from the government and not paying taxes on the capital gains.
BuyUCoin is a new crypto currency trading website that claims to be number one trading portal in India. On top of that, there have been myriad complaints about not crediting people’s money. Pair that with the fact they take sensitive personal details like PAN card, bank account details and Aadhaar card, I do not think anyone should give even one paisa to them.
IBM has announced partnership with Stellar Lumens to improve the speed in which banks both clear and settle payment transactions in near-real time. Their solution is already processing twelve currency corridors in Australia, New Zealand, United Kingdom and Pacific Islands. It will also achieve goal of extending financial services to one billion people by the year 2020. For instance, their new partnership will allow a farmer in Samoa to make a trade with buyer residing in Indonesia. The Stellar Lumens’ blockchain will be used to record the contract and manage trade documentation. This will allow the farmer to put up collateral, obtain letters of credit and finalize transaction terms.
OmiseGo utilizes the P2P shared technique. It makes continuous installments and contains computerized ETH Ethereum wallets. Both decentralized and fiat monetary forms are gotten to on this stage since it depends on the unmistakable blockchain innovation. It holds an unmistakable financial development with an air drop motion.
Kabuto coin KBC is a new cryptocurrency that is slated to be the official currency for the Kingdom of Kabuto which is a new independent zone on Earth. The founder behind Kabuto coin is planning to buy their own Island to create tax free haven. And since there are no island nowadays, they will have to buy it. They already have their eyes on Caribbean islands and this is the only way they will be able to set their rules.
Ethereum market cap has already crossed 50 percent with bitcoin and this is something that was forseen by Gavin and Mike. There are many reasons behind it with sheer number of projects that are being developed on the Ethereum and that is why the utility of Ethereum is increasing on a daily basis.
