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Tuesday 11 July 2023 8:00 am

Companies, banks and payment providers can accept cryptocurrency stored on Bitstamp as regular payment following a new partnership between the exchange and Qi Digital.

Announced this morning, businesses in the UK, Europe, Middle East and North Africa will be able to accept crypto payments through combining Bitstamps crypto exchange and settlement service with Qis crypto payment platform.

By providing the payment rails, London-based crypto commerce company Qi allows digital wallet holders to pay for goods and services, and business customers to accept payments as part of an e-commerce crypto at checkout experience.Bitstamp will then receive and convert transactions into the bank account of Qis business customers. Qi will also be able to offer seamless connectivity with Bitstamp to banks and other payment processors looking to offer digital assets to their end customers.

With more than 400 million crypto users worldwide and increasing daily, its projected by Boston Consulting Group that by 2030, approximately one billion users globally will own or have access to a form of cryptocurrency.

As crypto continues to evolve and we get closer to our goal of mainstream adoption, this partnership with Qi Digital signals the next step in helping mainstream audiences confidently approach digital assets, by providing seamless crypto transactions for businesses and their customers, said Jean-Baptiste Graftieaux, Global, CEO of Bitstamp.

As we work to grow the market for everyone, partnerships such as these ensure that we continue to provide a compliant and regulated service to our customers and make crypto accessible to all.

Mann Matharu, CEO at Qi Digital, added: This is an important milestone for the crypto industry.

By partnering with Bitstamp, were able to respond positively to provide a secure, more robust crypto payment solution. We can help shape the crypto landscape by future-proofing businesses to meet the demands of a growing global consumer market. PSPs can now add a trusted, blockchain-connected payment proposition for their merchants and consumers worldwide. Our aim is to provide choice for the everyday consumer as crypto adoption rises.

We recognise that banks are also needing to evolve in this space, especially with the increase of neo types of banks many built on new technology, such as blockchain. Through our legacy-inclusive approach, we can help financial institutions develop deep tech products in a regulatory environment.

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Bitstamp and Qi Digital team up over cryptocurrency payments ... - City A.M.

Battea Class Action Services has announced the successful integration of its Digital Asset Recovery Technology (DART) to assist institutional investors in recovering losses from digital asset investments. The companys expertise in securities litigation and antitrust recovery, combined with its proprietary technology, The Claims Engine, will help investors affected by cryptocurrency fraud.

Battea Class Action Services, a global leader in providing class and collective action antitrust and securities litigation recovery services, has integrated its Digital Asset Recovery Technology (DART) to support institutional investors in recovering damages related to cryptocurrency investments. The technology will aid in recovering losses from activities such as token sales, cryptocurrency mining, bankruptcies, and more.

Since 2018, there has been a significant increase in securities class action filings related to cryptocurrencies, with 65 filings in total. The Securities and Exchange Commission (SEC) has identified over $115 billion of digital tokens as unregistered securities. This trend is expected to continue as regulators focus on companies mishandling customer funds, misleading investors, breaking securities rules, and failing to register tokens as securities.

The integration of DART provides a unique opportunity for damaged cryptocurrency investors to recover their rightful settlement dollars. Currently, there are over $80 million in outstanding settlement dollars. Battea Class Action Services aims to leverage its expertise and technology to assist investors affected by all forms of cryptocurrency fraud.

Battea Class Action Services integration of DART will enhance its ability to help institutional investors recover losses from digital asset investments. The companys proven track record in securities litigation and antitrust recovery, combined with its patented technology, positions it as a leader in the space. With the increasing number of securities class action filings related to cryptocurrencies, the demand for recovery services is expected to grow.

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"Recover Cryptocurrency Investment Losses with DART Integration ... - Geeks World Wide

With millions of fans around the globe, Spains La Liga soccer league is one of the most popular in the game. To allow fans to keep up with all the latest news, La Liga offers an Android app with a number of features including schedules, kick-off times, and the all-important results.

Controversially, however, the app also has a surprising trick up its sleeve. After gaining consent from users, La Ligas software turns fans phones into spying devices which are able to analyze their surroundings using the microphone, listening out for unauthorized broadcasts in bars and restaurants, for example. This audio is then paired with phone GPS data to pinpoint establishments airing matches without a license.

Essentially, millions of football fans were recruited into an army of spies for the Spanish Soccer league organisation, helping it crack down on piracy. To give La Liga some credit, its an ingenious use of modern technology. But not everyone is impressed.

Unbeknownst to many, the creepy feature was outlined in the apps privacy policy along with stated uses that include combating piracy.

The purposes for which this functionality will be used are: (i) to develop statistical patterns on soccer consumption and (ii) to detect fraudulent operations of the retransmissions of LaLiga football matches (piracy)

As a result, AEPD, Spains data protection agency (Agencia Espaola de Proteccin de Datos) has hit La Liga with a significant 250,000 euro fine for not properly informing its users. The data protection agency said that La Ligas actions breached several aspects of the EUs GDPR, including a failure to gain consent every time the microphones in users devices were activated.

In response to the fine from the AEPD, La Liga says it disagrees with the ruling, which it considers unfair, and is launching an appeal. The league claims that for the microphone functionality to be active, users had to expressly give their informed consent on two occasions. The Google Play store shows that the La Liga app has been downloaded more than 10 million times. I wonder how many of those football fans didnt understand fully why the app was requesting access to their microphone and location

AEPD has ordered La Liga to introduce new mechanisms to ensure that users are properly notified when the anti-piracy features of the app are in use. However, La Liga says it has no need to implement them because, at the end of the current season (June 30, 2019), the functionality will be disabled. However, it says that it will introduce similar technology in the future so as so curb piracy of its football matches.

La Liga will continue to test and implement new technologies and innovations that allow us to improve the experience of our fans and, of course, fight against this very serious scourge that is piracy

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Cybercriminals stole $666 million from cryptocurrency projects in first half of 2022 - Technology Zimbabwe

OPINION:

Imagine you have an entirely legal business in your home state, but certain politicians and powerful government bureaucrats do not like your business for personal or political reasons and are determined to shut you down.

One of the easiest ways for government tyrants to squash a business or individual is to deny them access to the banking system by threatening the banks with regulatory harassment.

It is virtually impossible to operate a business or live a modern life without access to the banking system. Banks are highly sensitive to the wishes of the various bank regulatory and law enforcement agencies.

Under the Obama administration, there was a program called Operation Choke Point, which was designed to make it hard for legal gun manufacturers and dealers to operate by denying them banking services.

The government would discreetly inform the bank that is serving a gun seller and repair shop that if they dont drop the account, they are more likely to have enhanced inspections and audits. Other politically unpopular but totally legal businesses that have encountered banking problems include payday lenders and those in the fossil fuel industry and adult entertainment.

There now appears to be a coordinated effort by the Biden administration to go after banks and financial services businesses that are involved in the cryptocurrency business, which is broadly defined. This attack is coming from the traditional bank regulatory agencies, including the Federal Reserve, the Securities and Exchange Commission and others overstepping their legislative mandates.

Financial writer and venture capitalist Nic Carter, in recent articles on the Pirate Wires website, and economist Tom Hogan (former chief economist of the Senate Banking Committee), in an excellent podcast produced by the American Institute for Economic Research, detail the recent government attacks on the crypto industry.

Recent estimates of the total value of bitcoin exceed $1 trillion, and the total value of all cryptocurrencies is estimated to exceed $3 trillion.

Why are people putting all that money into these nonearning assets? Some use cryptocurrencies as a means of speculation, like casino chips. But many appear to be buying bitcoin and the other cryptocurrencies as a hedge against what they see coming a collapse or inflationary spiral in government fiat currencies.

One does not have to be a rocket scientist to look at the balance sheets of the major governments to see there is a problem.

For instance, the U.S. government has explicit financial liabilities of more than 100% of gross domestic product and tens of trillions in other implicit liabilities Social Security, Medicare, Medicaid, other government pension and medical liabilities, government guarantees to the banking and other industries, etc.

History shows that when government debt burdens and liabilities become unsustainable, the easiest choice is to debase the currency (inflation).

For centuries, people have acquired real assets e.g., real estate, art, jewelry, gold and silver, antique automobiles, and even guns and ammo as hedges against currency debasement.

The advent of alternative private electronic money surrogates like bitcoin, which provided a high degree of both privacy and liquidity, explains their popularity. There are now hundreds, if not thousands, of variations of cryptocurrencies very broadly defined.

Bitcoin is backed by an algorithm that limits the total number that can be issued. Others so-called stablecoins are in part or fully backed by such things as government securities, gold, silver, copper or aluminum. Many of these have been traded on U.S.-based crypto exchanges.

Even though governments having a monopoly on money issuance is of relatively recent vintage, most people take it as almost a natural right of government. The Bank of England, a private bank until 1946, was given the sole right to issue banknotes in England (but not Scotland) in 1694, and the Federal Reserve was given similar rights in 1913.

From the earliest times, governments defined the value of the money that could be used for the payment of taxes and receipts from the government but did not require a government monopoly on issuance.

As long as any private crypto or commodity-backed currency can be easily exchanged for U.S. dollars again, for the payment of taxes the government should have no further interest in what the private sector determines is the best store of value, unit of account, and medium of exchange.

Unfortunately, many of those in government hate the idea of giving power to the people. One of the most notorious members of the deep state is SEC Chairman Gary Gensler, who endlessly tries to extend the jurisdiction of his agency without legislative mandate.

He has now declared all cryptocurrencies, and even fully commodity-backed tokens (which are actually warehouse receipts), to be securities. Income-producing assets like stocks and bonds are securities. Claims on goods and services, like the euro, the yen, other government or privately issued currencies, frequent flyer miles and hatcheck stubs are not securities.

Mr. Gensler and other regulatory tyrants will most likely lose in court. But in the meantime, the broadly defined crypto and private commodity industry will be brought to a near halt in the U.S. and driven overseas, depriving U.S. citizens of all the money innovation, which is both driving down transaction costs and providing better wealth protection.

Richard W. Rahn is chairman of the Institute for Global Economic Growth and MCon LLC.

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Money and regulatory tyrants: Shutting down the cryptocurrency ... - Washington Times

The India cryptocurrency market is estimated to cross US$ 250 million by 2023 and is expected to grow at a significant CAGR of over 9.2% over the forecast period of 2023-2028.

The increasing awareness of cryptocurrencies among the Indian population and the growing popularity of blockchain technology, which is the underlying technology of cryptocurrencies are some of the primary growth factors for the market. The government's positive stance on cryptocurrencies is evidenced by the recent Supreme Court ruling that struck down a ban on cryptocurrency trading.

Moreover, the growth of DeFi is also fueling the market growth. DeFi is a rapidly growing sector of the cryptocurrency market that is using blockchain technology to create new financial products and services. DeFi applications are typically decentralized, meaning that they are not controlled by any central authority. This makes them more secure and transparent than traditional financial products. The growth of DeFi is expected to drive the adoption of cryptocurrencies in India, as more and more people look for alternative financial products.

The increasing interest from institutional investors, such as hedge funds and pension funds, is starting to take an interest in cryptocurrencies. This is due to the increasing volatility of the cryptocurrency market, which has the potential to generate high returns for investors. The increasing interest from institutional investors is expected to further legitimize the cryptocurrency market and attract more investors to the space.

Further, the development of new regulations in India has also shaped the regional cryptocurrency scenario in recent times. The Indian government is currently developing new regulations for the cryptocurrency market. These regulations are expected to provide clarity for businesses and individuals who are involved in the cryptocurrency space. The development of new regulations is expected to boost the growth of the cryptocurrency market in India.

According to a deep-dive market assessment by RationalStat, the India cryptocurrency market has been analyzed on the basis of market segments, including type, product type, end use, and geography/regions (incl. North India, West & Central India, East India, South India). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.

Market intelligence for the India cryptocurrency market covers market sizes on the basis of market value (US$/EUR Million) and volume (000 units/tons/liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

In addition, the long-term sector and products/services 10-year outlook and its implications on the sector. It also includes the industry's current state Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, and insights, etc.

The cryptocurrency market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.

RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.

The India cryptocurrency market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.

In the competition analysis section, the India cryptocurrency market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.

Explore more about this report - Request for Sample and Scope of the Study

In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.

The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.

In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russias war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the India cryptocurrency market include,

Some of the prominent players that contribute significantly to the cryptocurrency market growth include Bitmain Technologies Ltd, Intel Corporation, Ripple Labs, Inc., BitGo Inc., Coinbase, CoinDesk.com, Ethereum Foundation, Bitfury Group Limited, Nvidia Corporation among others.

RationalStat has segmented the India cryptocurrency market based on type, product type, end use and region

For more information about this report

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the clients needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

Kimberly Shaw, Content and Press Manager RationalStat LLC [emailprotected] Phone: +1 302 803 5429

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India Cryptocurrency Market Analysis and Forecast, 2023-2028 - Digital Journal