Bitcoin

Major Markets Tumble On Heightened Recession Fears

Global equities, oil prices and bitcoin plunged Monday on heightened recession fears triggered by runaway inflation.The dollar, however, gained versus major rivals, benefiting from its status as a haven investment and expectations of aggressive interest-rate hiking from the Federal Reserve (Fed).Bond yields also rose, with 10-year United States (US) Treasuries above 3.3 percent and Italy's 10-year debt breaking four percent for the first time in more than eight years.The US currency stru

14 June 2022
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Indonesia: Religious Council Says Crypto Is Haram

The use of crypto assets as a currency is forbidden for Muslims, according to Indonesia’s council of religious leaders.The National Ulema Council, or MUI, has deemed cryptocurrency as haram, or banned, as it has elements of uncertainty, wagering and harm, Asrorun Niam Sholeh, head of religious decrees, said on Thursday after the council held an expert hearing.

12 November 2021
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China Rules All Crypto Transactions Illegal

China's central bank on Friday said all financial transactions involving cryptocurrencies are illegal, sounding the death knell for the digital trade in China after a crackdown on the volatile currencies.The global values of cryptocurrencies including Bitcoin have massively fluctuated over the past year partly due to Chinese regulations, which have sought to prevent speculation and money laundering."Virtual currency-related business activities are illegal financial activities,"

25 September 2021
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Is Bitcoin About To Explode Or Implode?

On 8 February, Elon Musk’s electric-car firm Tesla announced that it had invested US$1.5 billion of its cash reserves in Bitcoin back in January. The news helped to boost the cryptocurrency’s already skyrocketing price by a further 10 percent, to a record high of more than US$44,000. But, especially in Bitcoin’s case, what goes up can just as easily come crashing down. Bitcoin was invented in 2008 and began trading in 2009.

22 February 2021
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ASEAN’s Paedophiles Are Tech Savvy

Southeast Asia is in the grip of a fresh surge of paedophile activity with predators orchestrating and watching abuse on live-streaming sites and via webcams, and paying for it with near-untraceable cryptocurrency, victims and children's charities warn. With widespread poverty, lax laws, and creaking judicial systems, Thailand, Cambodia, Vietnam, Lao, and the Philippines have long been seen as soft spots by foreign and local paedophiles seeking out underage sex in person.&nb

18 May 2019
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Has the cryptocurrency bubble burst?

Bitcoin started the week badly, as prices for the popular cryptocurrency fell 7% to dip below US$8,000. The sudden sell-off follows from Twitter’s decision to ban advertising for cryptocurrencies. Twitter is joined by Facebook and Google who have both banned advertisements for initial coin offerings and token sales on their respective platforms.

27 March 2018
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The State Of Cryptocurrency In Southeast Asia

Cryptocurrencies have been the talk of the town, or rather the region in recent times, especially after bitcoin hit a peak of almost US$20,000 at the end of 2017. Cryptocurrencies are digital currencies that use encryption techniques to secure transactions and to regulate the generation of units of the currency.

9 March 2018
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ASEAN Roundup: January 15 – January 19, 2018

Spotlight on energyThis week, The ASEAN Post highlighted some challenges that ASEAN is facing in terms of deploying renewable energy and electrification throughout the region. As the region’s energy demands grows, countries such as Myanmar are moving forward in order to quench the thirst for electricity.

21 January 2018
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Even using Bitcoin, money launderers can’t win

These days, money launderers have one more avenue to channel their proceeds through: cryptocurrencies like Bitcoin. Money launderers use Bitcoin because of the anonymity factor, whereupon users are simply identified by a 30-character alphanumeric code, or address which links them to the transactions they perform. No other identification is required to obtain a Bitcoin address.

16 January 2018
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S.Korea plans to close cryptocurrency exchanges, bitcoin dives

South Korea is preparing to shut down cryptocurrency exchanges in the country, its justice minister warned Thursday, sending prices of bitcoin and other virtual units into a tailspin.A series of measures have failed to curb overheated virtual currency speculation in the country and Justice Minister Park Sang-Ki said it would be "devastating if the bubble bursts"."The ministry is preparing legislation that basically bans any transactions based on a virtual currency through the t

11 January 2018
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Understanding blockchain

Bitcoin cryptocurrency has been receiving some bad press in Asia recently because of the lack of a central regulating authority for transactions. While Southeast Asian governments’ have their reservations about Bitcoin, they are remarkably interested in the underlying technology called blockchain.Breaking down the blockchainAt its most basic level, a blockchain is just a data structure combining different technologies into one, depending on an operator’s choice of configuration.

9 January 2018
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Singapore issues cryptocurrency warning

Singapore, on Tuesday, issued a warning about cryptocurrencies after a recent surge in prices sent investors flocking to bitcoin."The Monetary Authority of Singapore advises the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies," the city-state's central bank said in a statement.

20 December 2017
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