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Bitcoin Daily: Nigeria Moves To Create Crypto Framework; Australia Holds Blockchain Pilot With Singapore

PYMNTS

The Federal Ministry of Finance in Nigeria is said to be in discussions with the securities watchdog in the country to create a new digital currency and blockchain structure, Cointelegraph reported. As it stands, bitcoin and other digital currencies are seeing increasing use in Nigeria.

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Bitcoin Daily: Hackers Contribute Crypto To Charities; Bitcoin Crests $12K

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A hacking organization released receipts for $10,000 in charitable contributions to two groups made through bitcoin, the BBC reported. in bitcoin ( valued at approximately $10,515 as of 7:04 P.M. They reportedly harnessed The Giving Block service that is used by numerous nonprofits globally. Eastern Time on Oct. as of 7:06 P.M.

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How PayPal is bridging crypto and commerce through payments

Tearsheet

Fast-forward to today, a Bitcoin-focused product strategy within the lineup seems to be a safer bet. Take Block , for example. It has woven Bitcoin into its strategy over the past five years. In late 2020, PayPal took its first crypto leap, letting users buy, sell, and hold select digital currencies within their accounts.

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SEC Chair: Flaws In Modern Payments Systems Are Boosting Bitcoin

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Securities and Exchange Commission (SEC) Chairman Jay Clayton thinks inefficiencies in traditional payments are boosting favorability for bitcoin, a report from Coindesk says. Clayton, speaking on CNBC, said bitcoin's popularity came from that disappointment in mainstream payments.

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Bitcoin Tracker: The Unbanked-Profit Dilemma

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Can the unbanked benefit from bitcoin, or are they merely the experimental subjects of bitcoin adherents, lobbyists and scientists? This week’s Bitcoin Tracker takes a look at the recent bitcoin projects that are in the news and that are targeting the unbanked. Vogel also wanted to clarify regulations surrounding bitcoin.

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Bitcoin Tracker: Another Tough Week

PYMNTS

This past week proved once again that it’s tough to be a bitcoin fan. In another blow to bitcoin legitimacy, the U.S. Securities and Exchange Commission (SEC) has denied the second bitcoin-based ETF bid up for consideration in the month of March — the Intercontinental Exchange, Inc.’s Well, as long-term as bitcoin value can be.

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Bitcoin Miners Fail To Make A Profit Despite Surge In Revenue

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Bitcoin miners have around $4.7 TheNextWeb , citing blockchain research firm Diar , reported that based on the data, this marks the first time cryptocurrency mining businesses aren’t making money off their bitcoin mining efforts. The move implies that mining for bitcoin is becoming largely the domain of the big players.

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