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Bank of America, Citigroup, Wells Fargo Unveil Their Cryptocurrency Policies – News Bitcoin News

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Bank of America, Citigroup, and Wells Fargo shared their cryptocurrency guidelines with the U.S. Senate Banking Committee. The three banks are in different phases of offering their customers crypto services. They also lag behind some of their peers like Morgan Stanley and Goldman Sachs when it comes to providing access to assets exposed to Bitcoin or other cryptocurrencies.

Bank of America evaluates crypto opportunities

The CEOs of Bank of America, Citigroup and Wells Fargo gave their statements on cryptocurrency to the Senate Banking Committee last week. The committee, led by Senator Sherrod Brown, invited investment bankers to its annual supervisory hearing on Wall Street companies.

Brian Moynihan, CEO of Bank of America, said BofA is keeping its distance on Bitcoin and other cryptocurrencies as the bank continues to “evaluate the opportunities, risks and customer demand for cryptocurrency-related products and services.” Noting that his bank holds more than 60 patents related to blockchain, he stressed, “We still haven’t found a large-scale use case.” The Bank of America executive affirmed:

Currently, we do not lend to cryptocurrencies or any banking company whose main business is cryptocurrency or facilitating trading and investing in cryptocurrencies.

The Bank of America analyst said in January that Bitcoin is the “mother of all bubbles”. However, in the bank’s latest fund manager survey, Long Bitcoin was seen as the busiest trade. In March, the bank said the only good reason for holding Bitcoin was “out of price increases.”

Senator Brown is skeptical of cryptocurrencies. He recently sent a letter to the new acting currency auditor, Michael Hsu, asking him to review the cryptocurrency regulation under the supervision of the Office of Currency Auditor (OCC).

Citigroup, which takes a measured approach to crypto

Jane Fraser, CEO of Citigroup, spoke about her company taking a “measured approach” to cryptocurrency as the bank sought to “understand changes in digital assets and the use of distributed ledger technologies, including customer demand and interest , regulatory developments and technological advances. “The Citi executive noted:

Before we get into cryptocurrencies, we see it as our responsibility to ensure that we have clear governance and control.

Citigroup is reportedly planning to roll out crypto services as the company sees a “very rapid” buildup of interest in Bitcoin. Bitcoin was at a tipping point in March, according to Citigroup, and it could become the currency of choice for international trade.

Wells Fargo is closely watching the crypto room

Charles Scharf, Wells Fargo CEO, said his company is about to announce a pilot project using blockchain technology “to complete internal book transfers of cross-border payments within our global branch network.” However, regarding the cryptocurrency, he said:

We continue to closely and actively monitor developments around cryptocurrencies that have emerged as alternative investment products, although their status as a currency and payment mechanism remains fluid.

Darrell Cronk, the president of the Wells Fargo Investment Institute, said last week that his company is in the final stages of adding an actively managed cryptocurrency investment strategy to its platform. “We believe that the cryptocurrency space has just reached a stage of development and maturation in its development that now enables it to be a profitable investable good,” the executive said.

When do you think these three banks will launch cryptocurrency? Let us know in the comments below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.

Cryptocurrency

bitcoin price: Top Cryptocurrency Prices Today: Bitcoin, Ethereum tank; Dogecoin gains 10%

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NEW DELHI: The major cryptocurrencies traded mixed on Thursday after this week’s volatility. The mood in the digital token markets remained subdued. Six of the top 10 digital tokens were trading with cuts at 9.30 a.m. IST, while the remaining four, led by Dogecoin, rose between 4 and 10 percent.

After restricting payment channels for trading cryptocurrencies, China is moving towards digital currencies, and its e-CNY could be phased out as early as the 2022 Beijing Winter Olympics. The move is likely to be another dent in crypto trader sentiment.

Bitcoin has been one of the most powerful assets in the world over the past few years. However, even the highest-yielding asset has halved its value after the crackdown on China. Despite its worldwide popularity, the Numero Uno crypto token has been a laggard lately.

For the first time since the market restarted in early May 2021, Bitcoin slipped below the $ 30,000 mark and Ethereum broke the $ 2,000 mark. Since then, both cryptos have shown some recovery that could not be sustained.

“The crypto market in general has dropped from $ 1.7 trillion to $ 1.35 trillion in one week, a decrease of about 20 percent. While many attribute the market collapse to negative news about China’s extension of the Bitcoin mining ban, many analysts and traders believe it will only have a short-term impact on the market, “Zebpay Trade Desk said.

“Sentiment remains pessimistic, but we believe that the expiration date of the Q2 options last week of June, valued at $ 2.3 billion, should allow price consolidation as soon as it comes through. We say this because we believe most expectations are already factored in and therefore we see a relatively quiet period in the next few days, “she added.

Charles Hoskinson, the co-founder of Ethereum, has said that Dogecoin is a reasonable target for someone to fix it and make it an interesting cryptocurrency.

Tech View of Giottus Cryptocurrency Exchange

Speckle

Polkadot (DOT) is currently one of the stronger altcoins. Over the past six months, the price, market capitalization, and general reputation of both the coin and the polkadot chain have outperformed other coins during and after slumps. The support levels have shown exceptionally high buying volumes and low selling volumes.

DOT exactly follows the price action of Bitcoin (BTC). Assuming BTC is trading sideways, DOT is expected to follow technical analysis and trend lines. Currently, the DOT is in a descending wedge, which is a short-term bearish and a long-term bullish pattern. Breaking the triangle can be very bullish and in a few weeks it could even test its ATH resistance if market sentiment holds up.

ETMarkets.com

Main stages

Support: $ 15.4, $ 13.1, $ 10.4

Resistance: $ 17.5, $ 19.6, $ 23.4, $ 26.8

Ripple

Ripple (XRP) has been in the spotlight since its SEC lawsuit and has lost nearly 70 percent of its value since December 2020. Every hearing affects its price history and has been in a declining wedge lately with the potential to drop as low as $ 0.3. However, support will be seen at multiple levels within this wedge – specifically at $ 0.583 and $ 0.455.

However, given the descending wedge, there is a high chance that XRP could break out and recover soon. This also depends on the SEC lawsuit failing in Ripple’s favor.

RippleETMarkets.com

Main stages

Support: $ 0.583, $ 0.455, $ 0.424

Resistance: $ 0.787, $ 0.925, $ 1.063

The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC

(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of ETMarkets.com. Please consult your financial advisor prior to entering into any position in any of the above assets.)

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Lloyds Auctions Australia Sells a Pricey Caravan for Cryptocurrency – Bitcoin News

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Australia’s Lloyds Auctions now accepts major cryptocurrencies for all items offered on its marketplace. Within hours of the announcement, the auction house managed to sell an expensive mobile home (camper / trailer) to a bidder who was happy to pay full price with digital coins.

Australian auction house Lloyds Auctions accepts crypto from bidders

Against the backdrop of volatile crypto markets in the past few days and weeks, investors have been looking for ways to cash out profits or transfer some of their assets elsewhere. Lloyds Auctions, a leading auction house in Australia, has discovered an opportunity to attract some of this funds and offer bidders the ability to pay with cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Lloyds Auctions Australia is selling an expensive caravan for cryptocurrency

Just hours after opening the alternative payment option, Lloyds Auctions was able to sell a custom built trailer valued at $ 75,000 for crypto. “As a longtime sponsor of Lloyds, I didn’t hesitate and couldn’t believe how easy it was for me to pay with cryptocurrency,” the zealous buyer from Zdnet is quoted as saying. “The seller would have received it in cash and never knew the difference!”

Crypto owners want to buy vintage cars and bulldozers

Since the caravan was sold, the auction house has registered growing interest from other crypto owners, especially in its classic car and earthmoving machine auctions. Inquiries have been received, said Lee Hames, chief operations officer of Lloyds Auctions, who also commented:

We have seen people use this to segregate cryptocurrencies and reinvest in real assets. When prices go down, people take some profits off the table and transfer them to something like a vintage car or bulldozer and put them to use.

Lloyds Auctions has also decided that blockchain is the best way to prove possession of a series of negatives that capture moments in Australian history. At the beginning of June, the auction house announced that it would mint a non-fungible token (NFT) for a collection of original glass plate negatives from over 140 years of operation by the Rose Stereograph Company. The highest bidder in the auction also receives the NFT.

Have you bought auction items with cryptocurrency? Let us know in the comment section below.

Tags in this story

Auction house, Australia, Australians, bidders, bids, Bitcoin, BTC, buyers, caravans, cars, crypto, crypto owners, crypto investors, crypto payments, crypto prices, cryptocurrency, ETH, Ethereum, investors, Lloyds Auctions, purchase , Sale, seller

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation to make an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Albino BEP-20 Cryptocurrency Launch Revolutionizes Humanitarian Missions Around the World

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The latest addition to the decentralized crypto token market offers users and investors exceptional returns

HONGKONG, HONGKONG, June 23, 2021 /EINPresswire.com/ – On July 1, 2021, Peter Samuel will present the 10-decimal BEP-20 token from Albino (ABO) to the world of cryptocurrencies on PancakeSwap DEX. The mission of the decentralized token is to offer investors and users high returns while contributing to the welfare of society.

Albino Token’s strong vision of delivering unprecedented returns to its investors and users while supporting the disadvantaged and protecting the environment sets it apart from the majority of new tokens that flourish and fail in the competitive crypto world due to lack of purpose. The ABO cryptocurrency team strives to bring together a community that believes in positive change to increase the standard of living of people around the world. The project invests in the provision of basic human needs such as education, food, clean water, clothing, shelter and medical aid for the needy and works against the destruction of nature by humans. 2% of all purchases and sales are deposited in a special charity exchange to fund ABO’s philanthropic missions.

ABO’s Tokenomics balances it out with the world’s most sought-after smart contract cryptocurrencies. The clearly defined roadmap, token distribution and token burn programs of Albino BEP-20 tokens ensure that the position of the coin is steadfast and robust at all times, and offers investors solid security. Like most modern decentralized cryptocurrencies, ABO follows a burndown program that eliminates 10% of the currencies circulating in the market until the total volume of tokens is reduced to 5 trillion in order to protect the stability and demand of the currency in the market. The 3% tax levied on all transactions will then be redistributed among the holders, giving them an attractive incentive to invest in the token. The 2% liquidity allows it to maintain its volatility while delivering long-term returns to the community. Joining the Pro-Change ABO community gives community members the opportunity to enjoy steady passive income and ROI while influencing the world to change for the better.

The easy-to-use three-step token purchase process includes signing up for the PancakeSwap DEX, selecting a wallet and starting trading. In addition, amazing NFTs like concert tickets and artist memorabilia associated with the token make the albino smart contract cryptocurrency even more attractive to users.

Further information on the albino cryptocurrency can be found at www.thealbinos.com.

Peter Samuel
albino
admin@thealbinos.com

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June 23, 2021 at 1:22 PM GMT


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