Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes. The average Malaysian household spends $1,900 per month Abdul Rasheed, the deputy governor in question who works for Bank Negara Malaysia (BNM), claimed that the measures will apply to all transactions involving physical cash, including payments for goods and services, reports local English-language newspaper The Star. The limit of 25,000 …

Bitcoin (BTC) beats both fiat currency and gold because it does not need settlement, RT host Max Keiser has said. In the latest episode of the network’s Keiser Report on Nov. 7, the well-known Bitcoin bull explained that other forms of transactions need settlement time, but Bitcoin does not. Keiser: BTC “uniquely self-settling” This is because, in Bitcoin, the transaction and settlement are inseparable from one another. Moving BTC between wallets simply means updating a ledger, which implies instantaneous settlement as miners confirm the transactions. “There’s a lot of friction, both in paper and in gold. Bitcoin, uniquely, is self-settling …

Almost 60% of 70,000 people would take Bitcoin (BTC) over fiat currency as a long-term investment. That was according to a new survey on Nov. 4 by Ron Paul, the ex-Texas Congressman who has become well known for his proactive position on cryptocurrency. Ron Paul survey: 58% choose BTC Part of a regular series of polls, Paul asked Twitter users about their investment preferences for $10,000 of value, delivered as a lump sum and untouchable for ten years. So far, out of more than 67,000 responses, Bitcoin is easily the most popular choice, with 58% of the vote. Ron Paul’s …

The creator of the highly popular Stock-to-Flow model for forecasting the Bitcoin (BTC) price says he would be happy if it stays valid for the next 12 years. PlanB: Stock-to-Flow not until 2140 In a Twitter exchange beginning on Nov. 1, the account known as PlanB said the tool, which has proven to be extremely accurate, was not designed to last forever. “I normally don't deploy statistical models 120+ years out into the future. I would be happy if the model holds for 1 or 2 or maybe 3 more halvings,” he wrote. Stock-to-Flow measures Bitcoin price using the existing …

The United States national debt is now over $23 trillion, according to website U.S Debt Clock. It is also worth noting that the debt per United States citizen is $69,724 and that the debt to gross domestic product ratio is 106.65%. The milestone has been pointed out on Nov. 1 by Bitcoin advocate Twitter personality Rhythm, who also said that every dollar of U.S. national debt is, in fact, a reason to buy Bitcoin (BTC). Another user presented another interesting take adding: “That’s more than $1,000,000 debt per 1 Bitcoin.” “All fiat money will die” Host of the Keiser Report …

Major global crypto exchange Binance has silently launched Russian ruble trading on Oct. 30 allowing users to deposit and withdraw in RUB. Binance Ruble trading goes live according to the plan Less than two weeks after announcing Binance’s plans to launch fiat trading starting with Russian ruble, Binance CEO Changpeng Zhao (CZ) revealed that ruble trading is live in a tweet on Oct. 31. CZ noted that the launch of Russian ruble was released silently and in conjunction with his interview on Coindesk stating that Russia is one of the biggest markets of Binance exchange. CZ first announced the ruble …

73% of leading global banks have claimed that central bank digital currencies (CBDC) should be available “under all circumstances” in a new study. “CBDC will substitute much more easily for cash” According to a joint report conducted by tech giant IBM and the Official Monetary and Financial Institutions Forum (OMFIF), global central banks now admit that CBDCs would be a good substitute for cash in some use cases such as point of sale merchants with a network connection. Released on Oct. 29, the study “Retail CBDCs: The next payments frontier” involves banks from 13 advanced economies and 10 emerging markets …

Cryptocurrencies such as Bitcoin (BTC) are not real money, according to a statement published by the German federal parliament on Oct. 28. Not a payment vehicle, not a store of value Per the announcement, the assets offered by the current cryptocurrency landscape — such as Bitcoin — provide only a very limited portion of the features expected of traditional money. The statement – titled “Crypto tokens are not real money” – is based on an answer provided by the German federal government to a question from the Free Democratic Party parliamentary group. The answer provided defines the basic features of …

Major cryptocurrency exchange Binance announced that it opened deposits for fiat currency Nigerian Naira (NGN) on Oct. 24. Binance adds three new NGN trading pairs Per the announcement, NGN deposits will be processed by online payments processor Flutterwave and the exchange is also adding three new trading pairs: USD/NGN, Binance Coin/NGN and Bitcoin/NGN. To promote the use of the newly supported currency on the firm’s trading platform, Binance made NGN deposits temporarily free up to 36,000 NGN (about $100) starting on Oct. 24. For ineligible deposits, the fees on NGN will be set at 1.4%. The maximum allowed deposit is …

Binance, one of the largest global crypto exchanges, will soon add support of fiat trading, starting with the Russian ruble. Adding ruble support in “about two weeks” The news was publicly announced by Binance CEO Changpeng Zhao (CZ) at a Russian government-led event, the Open Innovations Forum in Moscow on Oct. 21. By adding Russia’s national cryptocurrency on its platform, Binance will allow users from Russia to buy cryptocurrencies directly using rubles, CZ explained. In a video posted on Twitter, CZ said: “In about two weeks or so, we should have support for Russian rubles trading directly. So you can …

Bitcoin (BTC) proponents are voicing fresh alarm after the United States Federal Reserve printed more than its entire market cap in new money this month. Fed balance sheet approaches $4T As noted by cryptocurrency social media pundit Dennis Parker on Oct. 21, since mid-September, the Fed has injected $210 billion into the economy. Part of its newly-revitalized quantitative easing (QE) strategy, the move dwarfs the total market cap of Bitcoin, which stands at $148 billion. QE refers to the buying up of government bonds in order to provide economic stimulus. The Fed’s balance sheet, Parker notes, jumped from $3.77 trillion …

Singapore-based crypto exchange Huobi will launch a fiat gateway for the Turkish lira in late 2019. Huobi’s fiat onramp for lira will be the first fiat gateway launched by a global exchange, Huobi Global claimed during the opening event at the Eurasia Blockchain Summit on Oct. 18. During the inaugural event hosted by Huobi Global, the company also revealed more information about its expansion into Turkey. Specifically, Huobi unveiled the successful establishment of a local team, localized language option, mobile application, exclusive trading fees as well as a detailed strategy for Huobi Turkey. By launching the gateway, Huobi will enable …