DIRS.INFO The most relevant business & tech news

☆ Swiss SEBA Bank gets approval-in-principle for Hong Kong crypto services
▼ + stars: | 2023-08-30 | by ( Georgina Lee | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHONG KONG, Aug 30 (Reuters) - Swiss crypto-focused SEBA Bank on Wednesday said it has received an approval-in-principle from Hong Kong's securities regulator that takes it only one step away from offering virtual asset services in the Asian financial hub. SEBA (Hong Kong), in a statement, said the Securities and Futures Commission will grant licences once it meets conditions for final approval. It will then be able to engage in securities dealing, including crypto-related structured products, and advise on and manage digital assets and traditional securities. Hong Kong is the third market in which the Zug-headquartered bank has sought a licence after Switzerland and Abu Dhabi. The approval-in-principle allows SEBA to prepare for operations as soon as it is licensed.

Persons: Dado Ruvic, HONG KONG, Georgina Lee, Christopher Cushing Organizations: REUTERS, Bank, Securities, Futures, Thomson Locations: HONG, Swiss, Hong Kong, cryptocurrencies, Zug, Switzerland, Abu Dhabi

Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. A spot bitcoin ETF would give investors exposure to the world's largest cryptocurrency by market capitalization without having to own it. The SEC has denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. Grayscale argued the same setup should be satisfactory for its spot ETF, since both products rely on bitcoin's underlying price. Other firms have spot bitcoin ETF applications with the SEC, including asset management giant BlackRock (BLK.N), Fidelity and WisdomTree (WT.N).

Persons: Dado Ruvic, Grayscale's, It's, Christopher LaVigne, Withers, Michael Sonnenshein, Bitcoin, Sui Chung, Joseph Toner, Seth Hertlein, Ryan Louvar, Paul Grewal, Coinbase, LaVigne, Carolina Mandl, Tom Wilson, Michelle Price, Jonathan Oatis Organizations: REUTERS, Rights, District of Columbia, Securities and Exchange Commission, SEC, CNBC, Chicago Mercantile Exchange, Fidelity, Coinbase, CME, BlackRock, Supreme, Thomson Locations: Washington, New York, WilmerHale, London

☆ Dollar licks wounds after jobs shock, Aussie dips as inflation cools
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: +3 min

Bank notes of the Australian Dollar lying on a table in Hamburg, Germany, 19 February 2016. The Japanese yen hovered around 146 per dollar following its overnight rebound from a 10-month trough at 147.375, as a drop in Treasury yields took away support for the U.S. currency. The Australian dollar dropped from near a two-week peak after inflation there cooled by more than economists predicted in July. The Aussie dollar dipped as much as 0.46% after the data before last trading 0.17% lower at $0.64685. The Chinese yuan weakened slightly in offshore markets to 7.2929 per dollar, but remained well above the Aug. 17 low of 7.3490 per dollar.

Persons: China's, Cryptocurrency bitcoin, Matt Simpson, Simpson, Jerome Powell Organizations: U.S, U.S ., Treasury, Money, Fed, Reserve Bank, People's Bank of Locations: Hamburg, Germany, U.S, Tuesday's, People's Bank of China

☆ Morning Bid: Cooler labor warms markets
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +5 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Stubborn inflation readings from Europe on Wednesday and hesitation around this week's China market rebound suggested the coast was far from clear despite worldwide stock and bond market rally in the previous session. Ebbing consumer confidence in August reinforced the message of slowing activity, however, and The Conference Board's so-called labor market differential, derived from respondents' views on whether jobs are plentiful or hard to get, narrowed by almost six points to 26.2% - its lowest since April 2021. China's stock markets also stalled after a two-day rally, with U.S. Commerce Secretary Gina Raimondo claiming on her three-day visit to the country that many U.S. firms now see China as "un-investable". But it seemed to draw a line under the stock market this week with a series of supports and the prospect of further cuts in lending, deposit and mortgage rates.

Persons: Mike Segar, Mike Dolan, St's, bitcoin, Gina Raimondo, Denmark's, Kristalina Georgieva, James, Brown, Forman, Louise Heavens Organizations: Wall, New York Stock Exchange, REUTERS, Labor, Nasdaq, Securities, Exchange, U.S . Commerce, International Monetary Fund, Treasury, Cooper Companies Reuters Graphics Reuters, Reuters, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Europe, China, Monday's U.S, Spain, Beijing, payrolls, Shanghai, CrowdStrike

REUTERS/Loren Elliott Acquire Licensing RightsAug 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Australian inflation, Japanese consumer confidence and German inflation figures later in the day are the main data points on Wednesday's economic calendar that could move Asian markets, which have started the week on a roll. A series of measures from China aimed at boosting domestic stock markets have had an immediate effect - China's benchmark index of blue chip stocks on Tuesday posted back-to-back gains of 1% or more for the first time since January. Money markets quickly swiped off the table expectations of another rate hike this year, short-dated yields plunged and stocks boomed. Put all that together and there is every reason to believe Asian markets will open in the green on Wednesday.

Persons: Loren Elliott, Jamie McGeever, Cryptocurrencies, Gina Raimondo, Michele Bullock, Josie Kao Organizations: REUTERS, Money, Nasdaq, Securities and Exchange, Stock Connect, U.S . Commerce, Bank of China, Incoming, Thomson, Reuters Locations: Sydney, Australia, China, U.S, Japan, Germany

Bitcoins are seen in this illustration picture taken September 27, 2017. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Aug 29 (Reuters) - Bitcoin's gains from a U.S. court ruling that bolsters future prospects for retail investor-friendly funds have rescued the original cryptocurrency from a dismal month, offering new optimism over its longer-term outlook. The win for Grayscale is likely to now factor into the SEC's future decisions for spot bitcoin ETFs filed by several major financial firms this year, including the world's largest asset manager BlackRock (BLK.N), investors said. Any advent of spot bitcoin ETFs could help the crypto industry tap a glut of previously untapped retail investor cash, in turn bolstering the price of bitcoin. Still, bitcoin's prospects remain tied to the performance of wider markets, some investors said.

Persons: Dado Ruvic, bitcoin, Noelle Acheson, Crypto, Anders Kvamme Jensen, Tom Wilson, Mike Harrison Organizations: REUTERS, Securities, Exchange, U.S, Treasury, BlackRock, BTC, Thomson

☆ Bitcoin hits two-week peak after Grayscale spot bitcoin ETF ruling
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. "Despite the inevitable SEC appeal, to our mind there is no doubt now, spot BTC ETFs are coming to the US. He also expects pent up U.S. demand to positively impact bitcoin prices and help global acknowledgement of crypto as a new asset class. The SEC last year rejected Grayscale's application for a spot bitcoin ETF, arguing the proposal did not meet anti-fraud and investor protection standards. So far this month and despite Tuesday's sharp gains, both bitcoin and ether were down 6% and nearly 8%, respectively.

Persons: Dado Ruvic, Tim Bevan, Gertrude Chavez, Dreyfuss, Tom Wilson, Alun John, Josie Kao Organizations: REUTERS, Securities and Exchange Commission, SEC, District of Columbia, BTC, ETC Group, U.S, Supreme, Fidelity, Federal Reserve, Thomson Locations: District, Washington, New York, London

☆ Bitcoin drops to new two-month low as world markets sell off
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

A representation of cryptocurrency Bitcoin is placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Aug 18 (Reuters) - Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range, as a wave of risk off sentiment grips world markets. It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since June 16 . It was lifted in June by BlackRock applying to launch a spot bitcoin exchange-traded fund (ETF) in the United States. Some investors interpreted that move as an indication that the U.S. Securities and Exchange Commission would approve spot bitcoin ETF applications from various asset managers, including Grayscale.

Persons: Dado Ruvic, bitcoin, FTX, Wall, Joseph Edwards, Bitcoin, Edwards, Elizabeth Howcroft, Dhara Organizations: REUTERS, Enigma Securities, BlackRock, U.S . Securities, Exchange, SEC, Thomson Locations: United States

☆ Bonds find respite but China crisis festers
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. But equally there was little let-up in the bad news from China's ailing economy and real estate sector. China's securities regulator said on Friday it would cut trading costs, support share buybacks and introduce long-term capital as it unveiled a package of measures aimed at reviving the stock market and boosting investor confidence. Other Asian bourses and European stocks fell too, with U.S. stock futures also in the red before the open. Emerging market equity indices (.MSCIEF) teetered near two-month lows too.

Persons: Brendan McDermid, Mike Dolan, HSI, teetered, Estee Lauder, Joe Biden, Fumio Kishida, Yoon Suk, Elaine Hardcastle Organizations: New York Stock Exchange, REUTERS, Bank of America, Federal, Jackson, China, HK, People's Bank of, U.S, Japan's, Palo Alto Networks, Deere, Treasury, Japan, South, Camp David Reuters Graphics Reuters, Reuters, Reuters Graphics, Thomson Locations: New York City, U.S, China, Treasuries, Beijing, Philadelphia, Shanghai, Hong Kong, People's Bank of China, South Korea

☆ Bitcoin falls 7.2% to $26,634
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: 1 min

A representation of cryptocurrency Bitcoin is placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsAug 17 (Reuters) - Bitcoin dropped 7.2% to $26,634 at 21:45 GMT on Thursday, losing $2,067 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 16.3% from the year's high of $31,818 on July 13. Ether , the coin linked to the Ethereum blockchain network, dropped 11.29% to $1,547.4 on Thursday, losing $203.8 from its previous close. Reporting by Yana Gaur in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Yana Gaur, Shinjini Organizations: REUTERS, Thomson Locations: Bitcoin, Bengaluru

The PayPal logo is seen at an office building in Berlin, Germany, March 5, 2019. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsCompanies PayPal Holdings Inc FollowLONDON, Aug 16 (Reuters) - Payments giant PayPal (PYPL.O) will stop allowing UK customers to buy cryptocurrencies through its platform from October as it works to comply with new rules on crypto promotions. Britain's financial regulator is due to bring in tougher rules to limit how crypto is advertised to British consumers, including requiring crypto firms to carry warnings about the risk and scrapping "refer a friend" bonuses. PayPal first launched crypto buying and selling in the UK in 2021. Regulators around the world are increasingly seeking to regulate crypto assets, after the collapse of several crypto firms including FTX last year left amateur investors with large losses.

Persons: Fabrizio Bensch, FTX, bitcoin, PayPal's, Elizabeth Howcroft, Bernadette Baum Organizations: PayPal, REUTERS, PayPal Holdings, Reuters, Regulators, Thomson Locations: Berlin, Germany

☆ Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA
▼ + stars: | 2023-08-01 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The Aussie dollar, meanwhile, eased slightly heading into a central bank policy decision, with traders laying about 30% odds on a quarter-point rate hike. MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) rose 0.25%, heading back toward the high reached Monday, which was its strongest level since April of last year. The dollar added as much as 0.37% to reach a three-week high of 142.80 yen . Japan's benchmark 10-year yield hovered around 0.6%, far from the new de facto cap at 1%. The Aussie weakened 0.34% to $0.66955, putting it around the middle of its trading range of the past week.

Persons: Tony Sycamore, cryptocurrency bitcoin, Kevin Buckland, Sam Holmes Organizations: Bank of, Japan's Nikkei, IG, Caterpillar, U.S, . West Texas, Thomson Locations: TOKYO, Asia, United States, Beijing, Sydney

☆ Standard Chartered boosts 2024 bitcoin forecast to $120,000
▼ + stars: | 2023-07-10 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, July 10 (Reuters) - The value of top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered (STAN.L) said on Monday, predicting the recent jump in its price could encourage bitcoin "miners" to hoard more of the supply. "Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," Kendrick said in a report. Bitcoin's price has leapt 80% since the start of the year but its current level of just over $30,200 is still less than half the $69,000 it peaked back in November 2021. "It is the equivalent of miners reducing the amount of bitcoins they sell per day to just 180-270 from 900 currently." "Over a year, that would reduce miner selling from 328,500 to a range of 65,700-98,550 – a reduction in net BTC supply of roughly 250,000 bitcoins a year."

Persons: Geoff Kendrick, Kendrick, Marc Jones, Amanda Cooper, Sharon Singleton Organizations: Chartered, BTC, Kendrick, Citi, Thomson

☆ Standard Chartered bumps up bitcoin forecast to $120,000
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: 1 min

LONDON, July 10 (Reuters) - Top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered (STAN.L) said on Monday, predicting the jump in its price could encourage bitcoin 'miners' to hoard more of the supply. Standard Chartered published a $100,000 end-2024 forecast for bitcoin back in April on the view the so-called "crypto winter" was over, but one the bank's top FX analysts, Geoff Kendrick, said there was now 20% "upside" to that call. "Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," Kendrick said in a report. Reporting by Marc Jones; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Geoff Kendrick, Kendrick, Marc Jones, Amanda Cooper Organizations: Chartered, BTC, Thomson

☆ A challenging macro backdrop could dampen bitcoin's upside in the third quarter
▼ + stars: | 2023-07-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +10 min

Don't get too carried away though – crypto is still part of the broader market, which remains in a challenging macro environment. Before the recent rush of applications to launch U.S. spot bitcoin ETFs injected new optimism in the crypto market, it was a frustrating second quarter for traders. Between the end of the banking crisis in May and the BlackRock bitcoin ETF filing on June 15, regulatory pressure weighed heavily on sentiment and bitcoin traded sideways. Regulation and ETFs Beyond the macro backdrop, it's clear developments in U.S. regulation and ETF applications will continue to be the main themes in the third quarter. Don't get too carried away though – crypto is still part of the broader market, which remains in a challenging macro environment.

Persons: it's, Christopher Ferraro, Powell, hasn't, Ferraro, Cantor Fitzgerald's Elliot Han, bitcoin, Han, we're, " Ferraro, Dado Ruvic, Ruvic Organizations: BlackRock, Galaxy Digital, CNBC, Federal Reserve, Securities, Exchange, Fidelity, Galaxy, SEC, REUTERS, Reuters Locations: BlackRock, –, U.S, Europe, Hong Kong, London

☆ Asia stocks gain on hopes for China stimulus, Fed pause
▼ + stars: | 2023-06-07 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

HONG KONG, June 7 (Reuters) - Most Asia-Pacific stocks markets strengthened on Wednesday, as expectations for stimulus from China and overnight gains on Wall Street boosted the mood. On Tuesday, China reportedly asked the biggest banks to cut deposit rates to boost the economy. "Overall, across the board, assets are doing pretty well," said Yuting Shao, macro strategist at State Street Global Markets. The U.S. dollar index slipped by 0.04% to 104.03. Leading cryptocurrency bitcoin was trading at about $27,000, consolidating following a sharp overnight rebound from as low as $25,350.

Persons: Hong, Yuting Shao, Saudi Arabia's, Brent, bitcoin, Solana, Ed Moya, Xie Yu, Kevin Buckland, Robert Birsel Organizations: Nikkei, State Street Global, Federal Reserve, Treasury, U.S, Australian, Saudi, U.S . Securities, Exchange Commission, SEC, Thomson Locations: HONG KONG, Asia, Pacific, China, Japan, Tokyo, Tuesday's, Cardano, Polygon, Bitcoin

The U.S. Securities and Exchange Commission (SEC) on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a "web of deception". The SEC said Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens such as Solana, Cardano and Polygon. Reuters GraphicsFounded in 2012, Coinbase recently served more than 108 million customers and ended March with $130 billion of customer crypto assets and funds on its balance sheet. Tuesday's SEC lawsuit seeks civil fines, the recouping of ill-gotten gains and injunctive relief.

Persons: Binance, Changpeng Zhao, Kevin O'Brien, Ford O'Brien Landy, Coinbase, Nansen, Paul Grewal, Coinbase's, Ed Moya, bitcoin, Oanda's Moya, Dado Ruvic, Gary Gensler, Gensler, Kristin Smith, Jonathan Stempel, Hannah Lang, Michelle Price, Kevin Buckland, Leslie Adler, Christopher Cushing Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Global Inc, Exchange, REUTERS, Securities, Supreme, Beaxy Digital, Bittrex Global, CNBC, Blockchain Association, Reuters Graphics, U.S, Binance's U.S, Thomson Locations: Manhattan, Solana, Cardano, bitcoin, Binance, Binance.US, Binance's, Cayman Islands, New York, Washington, Tokyo

☆ Dollar on back foot after weak ISM; Aussie awaits RBA
▼ + stars: | 2023-06-06 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Leading cryptocurrency bitcoin sagged toward the psychological $25,000 mark after U.S. regulators sued Binance, the world's biggest cryptocurrency exchange. "The soft ISM services PMI was unexpected to say the least," said Tony Sycamore, a market analyst at IG Markets in Sydney. The dollar was little changed at 139.55 yen , while the euro edged 0.08% higher to $1.0718. "The market is still short the Aussie dollar," he said. Elsewhere, bitcoin attempted to find its feet around $25,370, after tumbling 5.1% overnight in its biggest drop since April 19.

Persons: Binance, Tony Sycamore, Sycamore, you've, bitcoin, Changpeng Zhao, Kevin Buckland, Shri Navaratnam Organizations: Federal, Reserve Bank of, Global, U.S, Fed, Market, PMI, IG Markets, Services, China, Securities, Exchange Commission, SEC, Thomson Locations: TOKYO, Sydney

☆ EU states approve world's first comprehensive crypto rules
▼ + stars: | 2023-05-16 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

(Reuters) - European Union states on Tuesday gave the final nod to the world’s first comprehensive set of rules to regulate cryptoassets on Tuesday, piling pressure on countries such as Britain and the United States to play catch up. REUTERS/Dado Ruvic/IllustrationAn EU finance minister meeting in Brussels approved rules that were thrashed out with the European Parliament, which gave its approval in April. Regulating crypto has become more urgent for regulators after the collapse of crypto exchange FTX. Crypto firms say they want certainty in regulation, putting pressure on countries to copy the EU rules, and on regulators to come up with global norms for a cross-border activity. The United States has focused on using existing securities rules for enforcement action in the sector while it decides on whether to introduce bespoke new rules and who would apply them.

☆ Dollar sinks versus yen with US yields depressed after CPI
▼ + stars: | 2023-05-11 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

The U.S. currency fell 0.26% to trade at 134.025 yen in the Asian morning, and earlier dipped as low as 133.895. The dollar index - which measures the greenback against a basket of six major peers, including the yen - edged 0.05% lower to 101.36. "That'll weigh on dollar-yen," with the pair potentially weakening to as low as 130 in the near term, Kadota said. Elsewhere, the Aussie dollar rose 0.08% to $0.6784, pushing back toward Wednesday's 2-1/2-month high of $0.6818. New Zealand's kiwi dollar added 0.09% to $0.63735, after touching a nearly three-month high of $0.6384.

☆ Euro near one-year peak as US economic risks weigh on dollar
▼ + stars: | 2023-04-27 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, April 27 (Reuters) - The euro hovered near a one-year high versus the dollar on Thursday, as Europe's resilient economy contrasted with banking contagion risks in the United States, the debt ceiling standoff and a potential recession. Europe's single currency ticked up 0.05% to $1.10415, edging back toward the overnight peak at $1.1096, the highest since April of last year. IG analyst Tony Sycamore also sees risks skewed to the downside for the euro against the dollar. IG's Sycamore says the initial strength was driven by U.S. banking concerns, but the market was "apparently spooked by a large sell order." Provided bitcoin can remain above $25,000, Sycamore expects the token to test this month's high at $31,035.

☆ Euro near one-year peak as U.S. economic risks weigh on dollar
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: +3 min

The euro hovered near a one-year high versus the dollar on Thursday, as Europe's resilient economy contrasted with banking contagion risks in the United States, the debt ceiling standoff and a potential recession. Europe's single currency ticked up 0.05% to $1.10415, edging back toward the overnight peak at $1.1096, the highest since April of last year. IG analyst Tony Sycamore also sees risks skewed to the downside for the euro against the dollar. Aussie dollar traders are more confident that the Reserve Bank of Australia will keep rates unchanged for a second meeting next week after some softness in consumer inflation data on Wednesday. Bitcoin firmed to around $29,060, following a day when it jumped as high as $30,022, only to then slide as low as $27,242.

☆ Belgium's only cryptocurrency platform suspends activities
▼ + stars: | 2023-04-27 | by ( Marine Strauss | ) www.reuters.com time to read: +1 min

BRUSSELS, April 27 (Reuters) - The first and only Belgian cryptocurrency lending platform, Bit4You, said it was suspending its activities after CoinLoan, one of its main service providers, was declared insolvent by an Estonian court. CoinLoan, a crypto lending company based in the Baltic state, also no longer has the required registration as a custodian of virtual currencies, Bit4You said in a statement on its website. "To date, we have no indication that the virtual currencies held on behalf of our customers with CoinLoan cannot be recovered," Bit4You added. As proportions of Bit4You's customers' investments, CoinLoan holds around 85.66% of Ripple (XRP) coin, around 81.45% of top cryptocurrency bitcoin and 67.32% of Ethereum, according to the statement. The company had limited user withdrawals in July 2022 to $5,000 per 24-hour period to stave off a run on its funds.

LONDON, April 24 (Reuters) - Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered (STAN.L) said on Monday, saying that the so-called "crypto winter" is over. "While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer," Kendrick wrote. Bitcoin has rallied so far this year, rising above $30,000 in April for the first time in ten months. It gains represent a partial recovery after trillions of dollars were wiped from the crypto sector in 2022, as central banks hiked interest rates and a string of crypto firms imploded. A Citi analyst said in November 2020 that bitcoin could climb as high as $318,000 by the end of 2022.

☆ Salvadoran lawmakers pass tech tax cut, including for AI businesses
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

The tech tax cut was championed by President Nayib Bukele, who first touted the legislation late last month. Bukele's New Ideas Party dominates the country's Congress. The bill exempts eligible companies from income tax, capital gains and local government taxes, as well as tariff payments on imported goods that technology businesses need. The new tax incentives for the nascent tech sector are only the latest efforts by Bukele and his allies to re-brand the Central American country as an emerging hub for innovation. In 2021, El Salvador made waves as the first nation to adopt the cryptocurrency bitcoin as legal tender, alongside the U.S. dollar.

Search resuls for: "cryptocurrency bitcoin"

25 mentions found