Coinbase customers in the U.S. can now make withdrawals into their PayPal accounts. According to a blog post, U.S. customers can withdraw their Coinbase balances to PayPal immediately and without any fees. The new arrangement allows customers to quickly convert their cryptocurrency holdings to cash, wrote Allen Osgood, who works on product at the exchange. Coinbase announced it was bringing back a PayPal integration last month, noting that customers will only be able to make withdrawals using PayPal. Users won’t be able to buy cryptocurrencies via PayPal. The exchange previously had a PayPal integration, but the company ceased offering the service due to technical issues earlier this year. A spokesperson for the exchange told CoinDesk that “there is new functionality that was improved from
The Swiss Federal Council (Bundesrat) has said that existing financial law in the country suits the blockchain industry, but needs specific adjustments. The government suggested several amendments in an official statement by the Federal Department of Finance (FDF) published on Friday, Dec. 14.In a meeting on Dec. 7, the Bundesrat adopted a report on the legal framework for blockchain and distributed ledger technology (DLT) in the financial sector. The report analyzes relevant framework provisions, outlines the need for measures and proposes concrete steps for developing the necessary legal conditions in the blockchain sphere.Specifically, the report recommend the development of a new and flexible authorization category for blockchain-based financial market infrastructures. It also advocate...
One of the youngest cryptocurrency success stories has a rather bleak outlook for the leading digital asset, Bitcoin. Erik Finman became a millionaire in his teens by investing money that his grandmother had gifted him, starting as early as 2011.At the height of the Bitcoin bull market of 2017, Finman’s stack was worth an impressive $4 million. There is no indication just how much much of this he still holds, however.Erik Finman: Bitcoin and Litecoin Dying, Ether, BCH, and Zcash Show PromiseErik Finman hit headlines this January for his remarkable story. Starting in 2011, the then 12-year-old was buying cryptocurrency with some money his grandmother had given to him. According to a report in Market Watch, by catching on to the technological innovation early, the teenager was able to turn j
Despite red water market conditions, Blockstack announced on December 13, 2018, that they had “unlocked” $25 million in resources to continue their blockchain development. In a company blog post, co-founder Muneeb Ali described the necessity of an advisory board, reviewed the firm’s milestones, and explained how the newly released funds would be put to use. Building a Fully Decentralized Internet Similar to some other blockchain startups in the web 3.0 ecosystem, Blockstack is looking to decentralize the application layer of the Internet. They provide some developer-facing tools that allow builders to enable secure authentication and identity verification. One of the most recent renditions of these ambitions has been the Blockstack’s open source browser. At Consensus 2017 in New York, the
The European Parliament has called for measures to increase the adoption of blockchain technology in trade and administration with a provisional resolution published on Dec. 13.The resolution, dubbed “Blockchain: a forward-looking trade policy,” generally considers blockchain “as a private, permissioned distributed ledger technology (DLT)” but also admits that “various case studies and industries will derive different utility from a mixture of private/public, permissioned/permissionless blockchains.”The resolution notes that Free Trade Agreements (FTAs) in the EU are underutilized — only 67 percent of EU exporters and 90 percent of EU importers make use of the preferential tariffs — and that blockchain could help improve these trade policies.The authors of the resolution state that “export
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.Market data is provided by the HitBTC exchange.A lot of crypto investors have lost a staggering amount of money this year. The total market capitalization of all cryptocurrencies is threatening to break down of the $100 billion mark. Unlike the traditional assets, there is no set standard to arrive at a fair value for cryptocurrencies. Various experts have proposed many different methods to determine the valuation.One of the most popular Bitcoin advocates and a co-founder of Fundstrat Global Advisors, Thomas Lee, believes that the fair value of Bitcoin is b...
Bakkt CEO, Kelly Loeffler, and the Intercontinental Exchange chairman, Jeff Sprecher, recently spoke to MIT Media Lab’s Michael Casey at CoinDesk’s Consensus: Invest Conference. The chat was broadcast via the “Inside the ICE House” podcast earlier today.The two CEO’s talked in depth about their plans for the much-anticipated Bakkt platform, including what makes it different to other products already out there today, and why it will only focus on Bitcoin to begin with.Will Bakkt’s Federally Regulated Price Discovery be Good for Bitcoin?The conversation between Loeffler, Sprecher, and Casey began with a simple enough question: Does price matter to you?Loeffler responded first that it made little difference to the use of digital assets what they were priced at. The CEO went on to muse about t
The Chinese port of Shenzhen is progressing with blockchain initiatives in a major way. After setting up a virtual blockchain exchange and blockchain-based city and port management systems, the municipality looks towards solving the problem of invoicing and customer claims using the technology, reported local publication Economic Daily on December 13, 2018. WeChat Powers Administrative Move Partnering with Chinese technology giant Tencent, the state administration of taxation in Shenzhen has connected an indigenous blockchain invoice system with the former’s widely-popular WeChat service. While initially conceived as a messaging platform, WeChat has expanded into a payment application, marketplace, taxi-hailing app, and even municipal bill settlement portal. Most small- and micro-busines
Following its recent period of instability, Bitcoin has now plunged to new 2018 lows and has sent the altcoin markets spiraling downwards. Today’s drop has led the overall cryptocurrency market capitalization down to $102 billion, a level not seen since August of 2017.At the time of writing, Bitcoin (BTC) is trading down nearly 6% at its current price of $3,230, down from its 24-hour highs of $3,430. Bitcoin’s previous 2018 low was set on December 7th when it fell to just under $3,300.Analysts Expect Bitcoin to Fall Below $3,000The market’s current instability is leading to a general consensus among analysts that it is only a matter of time before Bitcoin falls below the important psychological price level of $3,000.While speaking about Bitcoin’s current price action, Nick Cawley, an analy
Brazilian premier league soccer club Atletico Mineiro has launched a fan token dubbed “GaloCoin,” Cointelegraph Brazil reports Friday, Dec. 14.The GaloCoin is named after Atletico’s mascot, a rooster (“galo” in Portuguese). It is based on Footcoin — a platform that allows to launch utility tokens on the Ethereum blockchain. The GaloCoin is tied to the national fiat currency exchange rate and is equal to one Brazilian real.Atletico’s token will allow fans to purchase game tickets, official apparel, as well as participate in discount programs. To use the club’s cryptocurrency token, one has to buy at least 50 GaloCoins (equivalent to approximately $13).Utility tokens are steadily increasing in popularity among soccer teams. In September, one of the best-performing French clubs Paris Saint-Ge