Bitcoin Fixes This: MoneyGram Has Been Taking Away $400 Million from El Salvador Annually on Remittances
Daily Leo Post #17
Remittance is big money for the entities that send it all over the world. How big you ask? Moneygram is reportedly raking in more than $400 million in fees for money sent to El Salvador. This is something that is about to change.
With the country legalizing Bitcoin as legal tender, the ability to send money directly to people’s accounts without the 3rd party can now occur.
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CBDCs could lead to 'deeply negative interest rates': Wall Street Journal
Negative interest rates are a touchy subject among Central Bankers. The ECB went negative in 2014, a move that was chastised by the Fed at the time. At that time, the US Central Bank saw its European counterpart crossing a line it could not return from.
An article in the Wall Street Journal outlines how CBDCs could end up making it easier for Central Banks to instill negative interest rates. With cash, some are willing to hold that to earn 0%. This would not be possible with negative rates.
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Ethereum’s Hashrate Reaches All Time High
In spite of the move to switch from a Proof-of-Work system to Proof-of-Stake, mining of Ethereum remains very profitable.
The hashrate on the second largest cryptocurrency by market cap hit an all time high. This is fueled, in part, by the excitement surrounding NFTs. That arena is dominated by the Ethereum blockchain.
To read full story click Here
More than a law: Texas takes steps to amend Bitcoin into state constitution
Texas aims to become one of the leading states when it comes to the adoption of virtual assets. Recently, two bills were signed into law that clarifies how these new items are treated under Uniform Commercial Code.
For some, this is only the starting point. There is a move to make Bitcoin part of the State Constitution. It is something that could take some time but would solidify Bitcoin as a part of Texas law.
To read full story click Here
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