The stance for cryptocurrency to be legal worldwide is still in discourse since its remarkable first appearance in 2009 with the well-known crypto coin, Bitcoin making investors rich when it was launched.

Not many countries allow crypto as a legal tender due to the absence of a regulatory system.

In reality, the virtual tokens are not made to regulate this is the main ground for the difficulty for governments to legalize these digital currencies.

According to the Library of Congress, 103 countries have planned to develop the objectives for organizations making transactions with cryptocurrencies.

At the same time, crypto brings more investments and innovation in the country and improves fast

transactions and results in decentralization and transparency.

Here are 10 countries that allow crypto as a legal tender.

1. Central African Republic

In 2022, CAR became the second country to accept crypto as a legal tender. The African state believes bitcoin to be a genuine legal tender.

2. El Salvador

The nation to be the first to make virtual tokens become a legal tender is El Salvador located in South America. In 2021, the bill to approve the currency was passed by President Bukele. It became a legal exchange to purchase, and sell any good and service.

3. Germany

Germany’s recognition of Bitcoin largely improved the value of the virtual coin in the worldwide market. The Germans are actively involved in the advancement of blockchain solutions which has allowed the nation to completely legalize the transaction of virtual money.

4. France

The legalization of the operation of digital tokens began on the 11th of July 2014 when a regulation note was issued. France allows trading and use of the currencies.

5. Netherlands

Even though this country has not regulated or officially legalized the use of any cryptocurrency, it has however shown a positive attitude toward the innovation. The country even has a special region called Bitcoin City where transactions like purchasing, trading, and business are legal.

6. Singapore

The Singapore government has allowed the use of cryptocurrencies for their citizen commercial uses but the government wants a hand in controlling the regulation. However, they warned their citizens about the risks of using the coins.

7. Malta

Since joining the list of countries that allows the use of virtual currencies, Malta has attracted many crypto companies such as Binance. The country has come up with many legislations for making cryptocurrencies acceptable for business.

8. USA

It is only natural for one of the biggest economies in the world to have a hand in crypto. The cabinet of the United States of America in 2013 accepted Bitcoin as a decentralized digital money that can be used for transactions.

9. Canada

Canadian government legalized the use of Impak coin, becoming the country’s first-ever legal cryptocurrency in August 2017. The nation’s government has implemented strict laws in place to prevent money laundering through the use of crypto as the country considers crypto as a commodity for tax purposes.

10. Japan

Japan had a strict rule for not allowing cryptocurrency on their land, but have become light with their laws since setting up a Payment Service Act which allows digital money and a number of exchanges to be used for payment and trading purposes.

Bitcoin exchange-traded funds (ETFs) have started a new week with a bang, securing more than $235 million worth of inflows on Oct.

Read more on U.Today https://u.today/bitcoin-etfs-see-235-million-in-total-net-flows

Traders are bracing for U.S. Consumer Price Index data this week, with a positive print likely influencing Bitcoin’s next price rise, analysts say.

Coupled with strong nonfarm payroll numbers, the “Uptober” narrative has helped buoy support for the world’s largest crypto at around $60,000, according to digital assets firm QCP Capital.

“After a shaky start, Uptober seems to be back on track,” QCP Capital wrote in a note on Monday. “Bitcoin is as at similar levels to where it started last Monday.” 

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New stuff rocking the cryptocurrency industry.

We just learned that the price of Bitcoin (BTC) is trying to hit the next highs, but there are a plethora of big challenges in its path.

According to latest reports, the market has witnessed a selling trend that’s hindering price growth.

Another major roadblock is the lack of investor interest and confidence in Bitcoin spot ETFs, leading to significantly greater outflows.

SosoValue, a powerhouse of crypto information and analysis said Bitcoin ETFs struggled throughout the past week.

The crypto market witnessed outflows of $301 million from Sept. 30 to Oct. 4.

The quote:

“During this time, Grayscale’s GBTC witnessed an outflow of around $47 million, and ARK & 21Shares ETF ARKB had an outflow of $206 million. Interestingly, BlackRock’s IBIT defied all the odds and continued its trend of garnering significant investor interest and confidence.

“While its counterparts struggled to get any inflows, the BlackRock Bitcoin ETF witnessed an inflow of a whopping $135 million during the same period. This unique trend shows the major role of BlackRock for Bitcoin investments.”

As we write, during this Oct. 4, the total daily net inflow of Bitcoin Spot ETFs stands at $25.59 million.

The total value traded is around $1.19 billion.

The conclusion is that despite recent outflows, the cumulative total net inflow is around $18.5 billion, showing the significant growth of these investment products in the broader outlook.

Can I really earn Bitcoin without investing anything?

That’s a question that many people ask. However, if it is possible, what are the steps to take?

Here are six important steps that anyone can take to earn bitcoin without spending any money. But it will require effort on each person’s part.

Yes, it is possible to earn Bitcoin without directly investing money, although it typically requires time, effort, or skills. Here are some ways to do so:

1. Bitcoin Faucets: These are websites that give away small amounts of Bitcoin in exchange for completing simple tasks or captcha.
2. Airdrops: Some projects distribute free cryptocurrency, including Bitcoin, to promote their platforms. You usually need to sign up or hold a certain token.
3. Mining: If you have the technical skills and access to hardware, you can mine Bitcoin. However, it requires significant energy and computing power.
4. Earn Bitcoin through Work: Some platforms allow you to offer services (like freelance work) and get paid in Bitcoin.
5. Staking and Lending: While this often involves investing in specific cryptocurrencies, some platforms offer rewards for staking or lending that can be converted to Bitcoin.
6. Referral Programs: Some exchanges and wallets offer bonuses for referring new users, which can often be claimed in Bitcoin.

While these methods can help you earn Bitcoin, the amounts may be relatively small, and there are often risks or time commitments involved. Always do your research before getting involved!

CME Group, the world’s leading derivatives marketplace, today announced that its Bitcoin Friday futures (BFF) have launched and are available for trading. 31,498 contracts traded across two different contract weeks. The first trade, a block, took place on Sunday, September 29 and was executed by Galaxy and Marex.

“With more than 31,000 contracts traded on day one, Bitcoin Friday futures have become our most successful crypto futures launch ever,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. “We are pleased to see such early customer interest and support for these new contracts, both on screen and through the block market. The smaller size of these contracts, along with a weekly Friday expiry, will provide investors with not only a more accessible way to access the bitcoin market, but will also allow them to more effectively manage their bitcoin exposure – all on a regulated exchange.”

“The launch of CME Group’s Bitcoin Friday futures is a significant step toward crypto adoption within a regulated framework. These weekly contracts offer efficient hedging by closely tracking the spot price and provide a cost-effective exposure to bitcoin,” said Harry Benchimol, Co-Head of Derivatives Engine at Marex. “By introducing a product closer to the very popular perpetuals on crypto platforms, CME Group is closing the gap between traditional financial and crypto markets. Marex is proud to have executed the first block trade, reinforcing our commitment to improving liquidity and driving innovation in the crypto market.”

“The launch of Bitcoin Friday futures by CME Group represents a significant advancement in the broadening of crypto derivatives markets, offering investors a flexible and efficient way to manage their bitcoin exposure,” said Michael Harvey, Head of Franchise Trading at Galaxy. “These weekly contracts closely track spot prices, providing a valuable tool for growing liquidity and optimizing trading strategies for traders of all types and sizes. As we continue to bridge the gap between traditional finance and the digital asset space, initiatives like this reinforce our commitment to empowering clients with the best solutions to manage their bitcoin exposure in a transparent market.”

Bitcoin Friday futures are sized at one-fiftieth of one bitcoin and cash-settled to the CME CF Bitcoin Reference Rate New York Variant (BRRNY) at 4:00 p.m. New York time every Friday. A new BFF contract is listed every Thursday at 6:00 p.m. New York time for a Friday trade date, with market participants able to trade the nearest two Fridays at any given point.

The U.S. Attorney’s Office for the District of Columbia announced on Thursday that two individuals have been charged “with conspiracy to steal and launder over $230 million in cryptocurrency from a victim in Washington, D.C.” Malone Lam, 20, of Miami, and Jeandiel Serrano, 21, of Los Angeles, were arrested and face charges related to the large-scale cryptocurrency fraud.

According to the indictment:

The conspirators would fraudulently gain access to victim cryptocurrency accounts and then transfer victim funds into their possession.

“They laundered the proceeds, including by moving the funds through various mixers and exchanges using ‘peel chains,’ pass-through wallets, and virtual private networks (VPNs) to mask their true identities,” the Attorney’s Office detailed.

The stolen cryptocurrency was used to finance a lavish lifestyle, the authorities noted, stating:

Lam and Serrano then allegedly spent the laundered cryptocurrency proceeds on international travel, nightclubs, luxury automobiles, watches, jewelry, designer handbags, and rental homes in Los Angeles and Miami.

In one instance, Lam, Serrano, and their conspirators contacted a victim in Washington, D.C., and fraudulently obtained more than 4,100 bitcoins, valued at over $230 million at the time. As of this writing, bitcoin is trading at $62,855, raising the value of the fraudulently obtained Bitcoin to approximately $258 million.

In a bold step to transform the global financial landscape, the Digital Economy Research Initiative, led by a dynamic group of Harvard students and alumni, has officially launched the “New Bretton Woods Project” (NBW). This pioneering blockchain-based initiative has secured membership in Harvard’s prestigious Innovation Labs and is set to begin incubation there in the coming weeks. NBW aims to tackle the escalating global debt crisis by offering innovative, technology-driven solutions.

At the heart of the project is the development of a native Bitcoin stablecoin, leveraging the transformative potential of decentralized finance (DeFi). Built on the innovative BeL2 infrastructure, NBW aims to reshape global financial systems, unlocking new possibilities for debt management and financial stability across nations.

With the power of DeFi and blockchain, NBW stands poised to disrupt the status quo, offering a bold new path toward economic resilience in the face of one of the greatest challenges of our time. This initiative signals not just a step, but a leap toward a decentralized, stable and secure economic future.

The project reframes Bitcoin as not just a store of value but the foundation of a decentralized financial system. Using BeL2—Bitcoin’s second-layer solution—the NBW project enables smart contracts for Bitcoin-backed stablecoin construction, empowering users to engage in decentralized finance while preserving Bitcoin’s core principles of decentralization and security.

“Harvard Innovation Labs will help turn our vision into reality,” said Jacob, Lead Member of New Bretton Woods (NBW) at Harvard University. “Our goal is to create a ‘New Bretton Woods’ system anchored in Bitcoin, bringing stability through the utility of a stablecoin. This stablecoin allows users to bypass Bitcoin’s price volatility while retaining the potential for long-term gain, making the product practical for daily use.”

The native Bitcoin stablecoin will be fully backed by Bitcoin, enabling users to experience the stability of fiat currency without liquidating their Bitcoin holdings. This offers a balance of algorithmic security using Bitcoin miners and the opportunity for long-term growth.

The BeL2 infrastructure allows for decentralized finance applications, where Bitcoin remains securely on the main network. Bitcoin can be used as collateral for Layer 2 applications such as decentralized exchanges, loans, and stablecoin issuance. The NBW team ensures that all Bitcoin-related settlements occur on the Bitcoin main network for maximum security. Instead of transferring assets across chains, messages are sent to Ethereum-compatible networks to issue stablecoin, uniting technologies and supporting a robust decentralized economy.

In 2024, the Bitcoin Conference organized by Bitcoin Magazine is set to be the world’s largest Bitcoin-focused event. Scheduled to take place in Miami, Florida, this conference is a major annual event that attracts a global audience of Bitcoin enthusiasts, developers, investors, and industry leaders.

Key Details:

• Event: Bitcoin Conference 2024
• Organizer: Bitcoin Magazine
• Location: Miami, Florida
• Dates: The specific dates can vary each year, so checking the official event website or announcements for the exact schedule is advisable.

Highlights of the Conference:

• Speakers: The event features prominent figures in the Bitcoin and cryptocurrency space, including developers, influencers, and thought leaders.
• Exhibitions: Various companies and projects showcase their innovations and technologies related to Bitcoin and blockchain.
• Networking: Attendees have opportunities to network with industry professionals, investors, and enthusiasts from around the world.
• Workshops & Panels: The conference includes educational sessions, workshops, and panel discussions on a range of topics related to Bitcoin, blockchain technology, and the broader cryptocurrency ecosystem.

The Bitcoin Conference is known for its scale and significance in the crypto community, making it a key event for anyone interested in the future of Bitcoin and blockchain technology.

As of 2024, Bitcoin’s largest Layer 2 solution is Lightning Network. The Lightning Network is designed to enable faster and cheaper transactions by creating off-chain payment channels that can process numerous transactions quickly and with low fees. Here’s a brief overview:

Lightning Network

• Purpose: It aims to address Bitcoin’s scalability issues by allowing transactions to be conducted off-chain and then settled on-chain. This approach significantly increases transaction throughput and reduces costs.
• Functionality: Users open payment channels with one another and conduct multiple transactions off the main Bitcoin blockchain. These transactions are then settled in bulk on the blockchain, reducing the load and congestion on the network.
• Adoption: The Lightning Network has seen substantial growth and adoption, with many exchanges, wallets, and merchant services integrating it to facilitate faster Bitcoin transactions.

The Lightning Network has become the most prominent and widely used Layer 2 scaling solution for Bitcoin due to its effective approach to enhancing transaction speed and reducing costs.

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