A ‘token’ gift: The US SEC giveth and taketh away
While we would be remiss not to laud the SEC’s statement as a step in the right direction, the shortcomings are inescapable. On Dec. 23, 2020, the SEC published a statement proposing a framework for broker-dealers to custody digital asset securities in a manner consistent with Rule 15c3-3 under the Securities Exchange Act of 1934. Among other things, the statement, which will expire after a period of five years from publication, provides that a broker-dealer may custody digital asset securities so long as it operates consistent with the enumerated conditions set forth in the statement,....
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Bitcoin is a booming business in the United Kingdom, assuming one knows how to play their cards right. Gift Off, a company specializing in selling gift cards for Bitcoin, recorded an all-time high turnover in February of 2016. Cryptocurrency enthusiasts in the United Kingdom will have heard of Gift Off before, as this Norwich-based online shop sells gift cards in exchange for Bitcoin payments. Up until this point, the company has sold close to GBP2.1m worth of gift cards, of which over GBP200k was processed last month. Considering how Gift Off is focusing on various gift cards, it seems....
Bitcoin can serve as an excellent gift for those trying to introduce people to the technology who may not have taken the plunge on their own.
One of the more common ways for consumers to spend Bitcoin is by buying gift cards from various retailers and outlets. Popular Bitcoin gift card services will often offer a small discount on every purchase. Giving consumers an extra incentive to spend digital currency. A recent survey by CardCash shows how Starbucks gift cards are a clear fan favorite, whereas Visa Gift Cards are far less preferable. Most of these trends seem to correlate with how consumers would spend USD balances on gift cards, though.
The world’s richest man giveth, and the world’s richest man taketh away. The value of Dogecoin (DOGE) sunk 23% in a matter of hours on Feb. 15, after Elon Musk drew attention to the vastly unequal distribution of DOGE coins and urged major holders to sell off their holdings. Dogecoin has one of the most unequal coin distributions in the cryptocurrency space, with 28.7% being held by just one person, and the top 12 holders possessing almost 50% of the supply. Just before midnight on Feb. 14, Musk tweeted:“If major Dogecoin holders sell most of their coins, it will get my full support. Too....
Centz, a digital currency service letting users convert gift card balances to cash, will hold an ICO in November, hosted by OpenLedger. Centz: Turn Gift Cards Into Digital Cash. Announcing its service at Money 20/20 in Las Vegas, Centz uses a specialized digital currency called “Centz Gold Bucks” (CGB) to convert gift card balances to digital cash, letting users spend their balances on anything. To use the service, customers create an account and load gift card balances into their digital wallets. Centz then converts the card balances into CGB and gives it to users in a single, spendable....