Fidelity to reportedly allow 401(k) retirement savings accounts to invest in Bitcoin

The United States-based retirement plan provider Fidelity Investments will reportedly allow 401(k) retirement saving account holders to directly invest in Bitcoin (BTC). The new Bitcoin retirement investment plan would go live later this year. It will allow over 23,000 companies associated with Fidelity to administrate their retirement accounts to offer Bitcoin investment options to the customers, […]

Github suspends accounts of Russian developers linked to sanctioned firms

Major developer platform Github has reportedly blocked more than a dozen accounts of Russian developer’s associated with organizations sanctioned by the United States government.  The sanctioned accounts include some of the largest banks in Russia: Sberbank and Alfa-Bank, as well as individual developers with links to the sanctioned firms. However, many individual accounts with no links […]

Chinese Banks Says They Will Not Freeze Legal Crypto Accounts

Rumor has it that Chinese banks are freezing client accounts that have a history of buying and selling cryptocurrencies. According to a Chinatimes report on June 13, banks in China have clarified that they are not shutting down any legit fiat to crypto accounts. Major banks reply According to the report, China Merchants Bank, Bank […]

Tiny Tax Haven Accounts for $36B of Cross-Border BTC Transactions

Seychelles-based exchanges led the world in cross-border Bitcoin (BTC) transactions in 2019. What Switzerland is to the world of watchmaking, Seychelles is to the world of crypto exchanges. The small island nation with a total population of less than 100,000, presents a perfect playground for the enterprises that are looking for a place that allows […]

4,000 Chinese Bank Accounts Reportedly Frozen Due to Crypto Connections

Around 4,000 Chinese bank accounts of cryptocurrency traders have reportedly been frozen by local law enforcement. According to a June 8 report by 8BTC, police froze the bank accounts of thousands of  over-the-counter (OTC) traders from the Chinese province of Guangdong. This purportedly comes as part of a wider investigation into illegal activities such as […]

Chinese Police Freezing OTC Traders’ Bank Accounts Over ‘Tainted’ Crypto Transactions

Thousands of cryptocurrency over-the-counter merchants and their clients may have been affected as police in China freeze bank accounts over crypto and fiat assets tainted by illicit activity. Caught up in a police probe since last Thursday, some Chinese crypto buyers and sellers and OTC market makers have already had accounts frozen because their transactions […]

Digital Currencies Could Replace Low-Interest Bank Accounts, Says UN Expert

Digital currencies could supersede bank accounts as low-interest rates make them increasingly obsolete. That’s the view of Massimo Buonomo, the UN’s global blockchain expert, who added that digital currencies, particularly central bank digital currencies (CBDCs), could soon “eliminate the need for a bank account” altogether. Speaking on an online panel discussing the future post-coronavirus global […]