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| July 17, 2018

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Tech Gains Push Nasdaq to Another All-Time High

July 12, 2018 |

Technology companies rose sharply on Wall Street, pushing the Nasdaq composite to another all-time high, the AP reports. The biggest winner in the sector by far was software maker CA, which soared 19% after agreeing to be acquired by Broadcom, a chipmaker. The broad advance wiped out the market’s losses…
Newser

Turkish Leader Takes Oath With New Powers and High Ambitions

July 10, 2018 |

Turkey’s President Recep Tayyip Erdogan took up a new mandate with vastly expanded powers and vowed to position his nation as a driving force linking East and West—a gambit that will face an immediate test at a NATO summit.
WSJ.com: What’s News Europe

In China’s ‘money worshiping’ movie industry, stars’ high pay becomes a target of the central government

July 5, 2018 |

China’s surging movie box office receipts, on pace to surpass North America’s in 2020, are celebrated here as part of China’s growing influence in the global film market.

But the rise has what officials see as a pernicious side, a kind of “Hollywoodification” of the Chinese entertainment business:…


L.A. Times – Business

Trump Asks Saudis to Pump More Oil, Citing High Prices

July 1, 2018 |

President Trump said he asked Saudi Arabia to significantly boost its oil production, but a senior Saudi official said the kingdom has made no specific promise.
WSJ.com: What’s News Asia

It Was Supposed to Fly 62 Miles High. It … Didn’t

June 30, 2018 |

A rocket developed by a Japanese startup company burst into flames seconds after a failed liftoff Saturday in northern Japan. The MOMO-2 rocket, developed by Interstellar Technologies, was launched in Taiki, a town on Hokkaido, Japan’s northernmost main island. The rocket was supposed to reach as high as 62 miles…
Newser

Flight attendants call for action in response to study that finds the job comes with high cancer risk

June 30, 2018 |

A union representing the nation’s flight attendants has called for more health protections for its members, following a study that ties working as a flight attendant to an increased risk of developing breast and skin cancer.

The study, produced by researchers from Harvard University’s School of…


L.A. Times – Business

Cryptocurrency to Fiat Transactions Remain High in the Philippines

June 27, 2018 |

Cryptocurrency to Fiat Transactions Remain High in the Philippines

The Filipino central bank has revealed that the trade between fiat and cryptocurrencies on authorized bitcoin exchanges in the Philippines has maintained its high level for the country from the boom time of late 2017 during the first quarter of this year.  

Also Read: US Authorities Seize Over $ 20M in Crypto in Massive Darknet Crackdown

Cryptocurrency-Fiat Transactions Remain High

Cryptocurrency to Fiat Transactions Remain High in the PhilippinesTransactions involving both fiat and cryptocurrencies remained high during the first three months of 2018 in the Philippines, revealed new figures released by the country’s central bank, Bangko Sentral ng Pilipinas (BSP). This happened despite the warnings to the public issued by the central bank about the risks involved with the instruments, which were meant to discourage the acquisition, possession and trading of cryptocurrencies.

BSP Deputy Governor Chuchi Fonacier announced that conversion of cryptocurrencies into the local peso as well as other fiat currencies by monthly average amounted to $ 24.16 million, while conversion from peso and other fiat currencies to cryptocurrencies reached $ 36.74 million in the first quarter of the year, as The Philippine Star reported. In the last quarter of 2017, Fonacier said the average monthly transactions involving conversion of cryptocurrencies to peso and other fiat currencies reached $ 24.79 million, while conversion from peso and other fiat currencies to cryptocurrencies amounted to $ 38.27 million.

A Fertile Ground for Bitcoin Adoption

Cryptocurrency to Fiat Transactions Remain High in the PhilippinesThe Philippines has a population of over 100 million people, and it has a couple of factors that make it a fertile ground for bitcoin adoption. Its growing economy is heavily reliant upon remittances from overseas Filipino workers and international tourism is an also important sector of the local industry, both of which stand to greatly benefit from reduced costs on cross-border transfers enabled by cryptocurrency.

Moreover, unlike other locations in Asia, the local financial authorities have not banned fiat to cryptocurrency transactions and the BSP even authorized the operation of a few exchange platforms in the country including Rebittance Inc, Betur Inc (Coins.ph), and Bloom Solutions Inc. As we reported last month, Coins.ph reached a whopping five million users in May for its mobile payments app and hot wallet.

What can the bitcoin community do to encourage the further development of the market in the Philippines? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Cryptocurrency to Fiat Transactions Remain High in the Philippines appeared first on Bitcoin News.

Bitcoin News

High earners need to watch out for Medicare surcharge

June 24, 2018 |

Dear Liz: When I retired at age 70, I anticipated receiving the maximum available Social Security benefit payment because I had paid in the maximum tax for my entire career. I did not anticipate the heavy hit my spouse and I would take in monthly income-adjusted Medicare “premiums.” (I say “tax”…


L.A. Times – Business

CNN

Number of refugees hits ‘five-year high’

June 19, 2018 |

More than 68 million people were forced to flee their homes last year as a result of war, violence and other forms of persecution, according to a new report.
CNN.com – RSS Channel – World

Nasdaq Closes at Record High

June 12, 2018 |

Stocks are closing mixed as technology companies and retailers rise, and the S&P 500 is ending at a four-month high, the AP reports. Twitter climbed 5% Tuesday and Dollar Tree gained 3%. However energy companies and banks took losses. A federal judge is expected to rule shortly on whether AT&T…
Newser