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Cryptocurrencies/Coins/Ubcoin Market (UBC)
Ubcoin Market price, market cap on Coin360 heatmap

Ubcoin Market(UBC)

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6 days agocointelegraph
Hearing: Alternative payments’ threat to national security goes far beyond crypto
Crypto is just the tip of the iceberg, experts tell a U.S. House Financial Service subcommittee in testimony on payment systems and national security.
21 day agocryptodaily
There is too much wealth and power behind crypto to ban it
Republican congressman Brad Sherman chairs a House subcommittee on investor protection, and he is an avid opponent of crypto. He would like to outlaw crypto but realises that there is just too much money and power behind it. There is much polemic debate on Capitol Hill on the merits or otherwise of cryptocurrencies. Some congressmen are fully behind crypto on its potential promise for fair and accountable transactions among many other advantages. On the other hand, there are those like Brad Sherman who are worried about fraud for investors, and that crypto could grow enough to become a systemic threat for the US dollar and the monetary system behind it. Sherman was featured in an article for the Los Angeles Times on Sunday, where he acknowledged that crypto would probably not be banned any time soon: “I don’t think we’re going to get [to a ban] anytime soon. Money for lobbying and money for campaign contributions works, or people wouldn’t do it; and that’s why we haven’t banned crypto. We didn’t ban it at the beginning because we didn’t realise it was important, and we didn’t ban it now because there’s too much money and power behind it.” Sherman believes that crypto could “undermine the dominance of the U.S. dollar” and can aid “human rights abusers” and other “criminals”, although the LA Times does rightly point out that crypto technology can work the other way by helping “persecuted people get their money out of authoritarian countries.” The congressman believes that the Securities and Exchange Commission (SEC) should be doing all the crypto regulation because of its “aggressive enforcement actions”. However, the Stabenow/Boozman bill which was introduced last month would have most cryptocurrencies regulated under the CFTC as commodities. Sherman is concerned for investors that put their money into “meme coins”, but admits that it will be hard to stop people from spending their money how they want. “It is hard to be running the subcommittee dedicated to investor protection in a country in which people want to wager on [meme coins]. Cryptocurrency is a meme you invest in, in the hopes that you can sell it to somebody else before it tanks. That’s the nice thing about a Ponzi scheme.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
26 days agocointelegraph
US Congressman to review all Binance US files related to consumer safety
The CEO of Binance US was reached out by a Subcommittee chairman for producing various documents — in an attempt to help review the measure taken to protect investors.
27 days agocoindesk
US Congressman Wants Consumer-Protection Answers From Agencies, Crypto Firms
FTX, Binance.US, Coinbase and others are on the hot seat to answer consumer-protection questions from House subcommittee chair Rep. Raja Krishnamoorthi (D-Ill.)
63 days agocryptodaily
DeFiChain’s DFI Token Starts Trading on Huobi Global
Singapore, Singapore, 25th July, 2022, ChainwireDeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, officially announces the listing of its native DFI token on Huobi Global, one of the world’s leading cryptocurrency exchanges. The token starts trading against USDT on Huobi on July 25th at 06:00 (UTC), while DFI withdrawals are scheduled to open at 07:00 (UTC) on July 26th. Traders and investors buying DFI on Huobi will be able to transfer the token to their DeFiChain wallet or wherever they want. The DFI token is already available for trading on Kucoin, Bybit (ERC-20 format), Bittrex, Bitrue, Hotbit, and Bitpanda. “Getting listed on Huobi is another big step for DeFiChain. We are happy that more and more big exchanges list DFI. Due to the variety of real world assets available on DeFiChain, more and more top tier exchanges are looking forward to listing DFI. With every additional listing it becomes easier for the masses to enter the world of native decentralized finance on DeFiChain,” said Benjamin Rauch, Marketing Director at DeFiChain Accelerator. Founded in 2013, Huobi is one of the world’s leading cryptocurrency exchanges. The listing on Huobi will improve the accessibility of DFI among the global cryptocurrency user base. Huobi enables users to buy, sell, stake, and borrow a broad array of cryptocurrencies, providing an encompassing ecosystem for experienced crypto traders and investors. Huobi was recently granted provisional approval by the Dubai Virtual Assets Regulatory Authority to offer virtual asset exchange products and services to pre-qualified investors and professional financial service providers. The DFI token opens up the world to the DeFiChain ecosystem. It is at the core of all activities on the DeFiChain blockchain including: Providing liquidity in multiple pools Staking for blockchain consensus and security As collateral to mint or borrow stock tokens and the dUSD stablecoin As a reward token. All DEX rewards are paid out in DFI Governance token of DeFiChain DeFiChain is a fully decentralized blockchain with on-chain governance. Since its mainnet launch in May 2020, the project has seen an enthusiastic involvement from the community in almost all aspects of the blockchain, from nodes, masternodes, projects, tools, governance, economic ideas, to code governance. Its codebase has been developed in an open source manner, and widely peer-reviewed and discussed by many. About DeFiChain DeFiChain is a decentralized Proof-of-Stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. It is dedicated to enabling fast, intelligent, and transparent decentralized financial services. DeFiChain offers liquidity mining, staking, decentralized assets, and decentralized loans. The DeFiChain Foundation's mission is to bring DeFi to the Bitcoin ecosystem. For more information, visit: Website | Twitter | Discord | GitHubContactsBenjamin [email protected]
94 days agocryptodaily
Cardano founder Charles Hoskinson suggests self-regulation of the crypto industry in testimony to congress
Charles Hoskinson, the founder of Cardano has spoken to Congress about cryptocurrency regulation, in a testimony that will help Congress decide how to approach regulation of the cryptocurrency industry. The US House of Representatives committee on crypto and blockchain called in Charles Hoskinson on Thursday, as a key figure in the crypto industry, to speak on cryptocurrency regulation. The Cardano founder made a proposal that would see software developers handling compliance matters. Hoskinson suggested something similar to the way in which the banking industry operates with KYC/AML, noting “it’s not the SEC or CFTC going out there doing KYC/AML; it’s banks. They are the ones on the front line”. He added: “What I am suggesting is a public-private partnership. However, there is a need to have boundaries. Then, innovators like us can write the software to make it happen.” The proposal outlined by Hoskinson would mean that compliance comes from within the crypto industry, and not directly from the regulators themselves. “It’s a public-private partnership. What needs to be done is to establish those boundaries, then what we can do as innovators is write software to help make that happen.” The Securities and Exchange Commission (SEC), and the the Commodity Futures Trading Commission (CFTC) are currently in the midst of deciding who has authority over the regulation of the crypto markets, with the CFTC arguing that thy are the only U.S. regulatory body that has experience regulating markets for Bitcoin and crypto. One of the key issues with the regulation of cryptocurrencies is that one single agency is unlikely to be able to regulate and oversee the many thousands of cryptocurrencies on the market. Hoskinson noted in his testimony, that cryptocurrencies have the ability to carry out much of this regulatory work automatically, suggesting a ​​“self-certification system” that automatically monitors compliance. Hoskinson’s testimony includes a request for clearer boundaries and guidelines from the U.S. regulators, adding that his “knowledge and network are always available to this subcommittee to aid and assist in the legislative process”. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
95 days agocointelegraph
US Congressional hearing on digital asset regulation focuses on disclosure
An agriculture subcommittee heard a CFTC official, a law professor, a Chainalysis cofounder and Charles Hoskinson air their views on regulation and adjacent topics.
101 day agocryptodaily
Sticker Culture NFT “META PYLON” will Launch the World’s First Sticker Feature
Tokyo, Japan, 17th June, 2022, ChainwireMETA PYLON announced the world’s first feature to encourage NFT holders to participate in the Metaverse. This feature recognizes NFTs held by users as stickers and attaches them to 3D objects to create entirely new NFTs. This is being done through its 5,555 on-chain interactive NFT products that it is offering for mint. META PYLON is a Japanese NFT that combines street and subculture to create a unique experience of displaying NFTs within the metaverse. By offering 3D cones via NFTs, META PYLON allows users to display their in-wallet NFTs to others, creating a more social experience for all. (How it works) META PYLON solves NFT art industry-specific challenges Given how popular the metaverse is becoming and how users are often robbed of the chance to show others their NFT,s META PYLON is looking to solve a unique industry problem. Typically, when an NFT is purchased by a consumer, it is held only in their wallet and there is little opportunity to show it off to anyone, META PYLON fixes this by offering Pylon NFTs. These NFTs are the digital cones that other NFTs can be attached to. By attaching the NFT to Pylon, users can create their own original 3D Pylon. It is a completely new way to showcase their NFT collection. Additionally, users can put the 3D Pylon in the metaverse. META PYLON has also prepared an Original Sticker Pack by collaborating with various creators, other NFT Projects, and artists. Each META PYLON owner will get the sticker pack. META PYLON is a collection (information), a context, and a symbol. Being able to show them off, their inability to be removed and the existence of the sticker is the owner's status. META PYLON is a metaphor for the owners in the Metaverse. META PYLON creates a new potential market META PYLON is trying to create new demand in the current market, which is dominated by collection NFTs such as PFPs, by offering an object of affixing NFTs. Combining multiple NFTs to create new NFTs will drive the trend. In near future, META PYLON will create real pylons with NFT stickers not only in the Metaverse, but also in the real world, and deploy them to users. The world of META PYLON will be completed by existing back and forth between the Metaverse and the real world. META PYLON will become available for purchase from July 2022. About META PYLON META PYLON is armed with NFT studio "WoOLTRAKEY", The team includes a collage artist Q-TA who has previously worked on Gucci’s #GucciGram project and the Disney campaign, ‘Alice Through the Looking Glass’. As per management, the vision of META PYLON is for it to become “a symbol of creativity, culture, and freedom”. "WoOLTRAKEY" will collaborate with many NFTs and creators through META PYLON to provide various ways to play with the community by extending it in real space and in the metaverse.” Twitter: Website: ContactsKen MizunoMeta [email protected]
128 days agozycrypto
Bitcoin Falls Under The Jurisdiction Of The CFTC – Asserts SEC’s Gensler
On Wednesday, Gary Gensler suggested that Bitcoin is a commodity token that would fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC). Testifying before a subcommittee of the U.S. House Appropriations Committee, the Securities and Services Commission (SEC) chair echoed his earlier assertions that Bitcoin and other cryptocurrencies appropriately fell under the securities […]
173 days agocryptodaily
US House Bill To Offset El Salvador’s BTC Adoption
Two US House members have proposed a new bill in order to ‘mitigate the risks’ of El Salvador’s adoption of Bitcoin as legal currency. El Salvador’s Decision Still Incites US Legislations The bill was presented by Congresswoman Norma J. Torres (D-CA), Chair of the Central America Caucus, and Congressman Rick Crawford (R-AR), Ranking Member of the House Permanent Select Committee on Intelligence’s Subcommittee on Counterterrorism, Counterintelligence, and Counterproliferation. The bipartisan House bill proposes legislation for the Accountability of Cryptocurrency in El Salvador (ACES) Act to minimize the risks posed to the United States treasury due to El Salvador’s monumental decision. Financial Institutions Question BTC Adoption Congresswoman Torres addressed the concerns over El Salvador’s BTC adoption, stating, “Global financial institutions have studied and detailed the numerous risks of El Salvador’s adoption of Bitcoin, and the international community acknowledges the potential danger. El Salvador is an independent democracy, and we respect its right to self-govern, but the United States must have a plan in place to protect our financial systems from the risks of this decision, which appears to be a careless gamble rather than a thoughtful embrace of innovation.” Many international bodies have openly spoken out against El Salvador’s decision to adopt BTC as legal tender. Most notably, the International Monetary Fund (IMF) had referred to this decision as a monumental risk to financial stability and consumer protection and refused to lend to El Salvador. House Bill Follows Senate Bill The bill was introduced as companion legislation to last month’s Senate bill proposed by US Senators Jim Risch (R-Idaho), Bob Menendez (D-N.J.), and Bill Cassidy (R-La.). El Salvador’s President Nayib Bukele had hit back at these senators, addressing them as ‘boomers,’ referencing their lack of nuanced understanding of the industry. The legislation of the House bill deems that the State Department will have to study the BTC adoption in El Salvador, focusing on cybersecurity risks, repercussions on economic stability, and the effect on democracy in the Central American country. Additionally, the bill also directs the formulation of a plan to mitigate the potential risks of the new policy on the US financial system. Representative Crawford commented on the bill and its role in the current crypto-heavy market, stating, “The rise in popularity of cryptocurrencies such as Bitcoin creates questions and a necessary review of regulation and consumer protection which the U.S. federal government should be involved in…It is our job as policymakers to better understand the potential effects of the adoption of Bitcoin as legal currency in El Salvador and what the U.S. can learn going forward.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
228 days agocryptodaily
Tennessee Lawmaker Proposes Crypto-Friendly Bills
The two bills introduced on February 2 would allow the state of Tennessee to invest in crypto and form a committee dedicated to studying the crypto industry. Amendment To Let State Invest In Crypto A member of the Tennessee House of Representatives, Jason Powell’s new bill (Tennessee House Bill 2644) proposes that counties and municipalities belonging to Tennessee as well as the state itself should be able to invest in digital assets like cryptocurrencies and NFTs. The proposal initially was formed as an amendment to the current state code that lists authorized asset classes that the state entities can invest in with idle funds. The bill has been assigned to the House Finance, Ways, and Means Subcommittee for further consideration. Proposal For Crypto Committee Earlier that day, Powell had already proposed another bill related to the crypto and blockchain industry. His proposed Tennessee House Bill 2643 appealed to the state's lawmakers to consider forming a committee that would study the intricacies in the blockchain and crypto world to ensure the state’s progress as a forward-thinking and pro-business state for the industry. He also claimed in his proposal that such a committee would help foster a favorable economic environment for the crypto industry and thus attract the attention of crypto experts and enthusiasts. Powell had been proposing similar bills for quite some time now. Back in 2018, he had introduced a bill focusing on the use of smart contracts in Tennessee. Proposed Committee Duties Furthermore, the committee would need to analyze data on crypto and blockchain from across the country to ascertain the status of laws that govern the space. The committee would also communicate with industry experts and promote Tennessee as a blockchain and crypto hub through legislation. If the bill is passed, the role of the head of the committee will fall upon Carter Lawrence, who is the current commissioner of commerce and insurance in the state. In addition, the committee members would need to include a representative who is experienced in cryptocurrency and another who understands federal securities laws. States Legislations Regarding Crypto The 10th amendment of the U.S. Constitution often leads to confusion among state and federal level lawmakers when trying to determine which body governs certain aspects of business and trade. This patchwork of legislation is a serious hurdle for the crypto industry to overcome and the introduction of Powell’s two bills might contribute to making it simpler for the state of Tennessee. Last year saw multiple states trying to inch ahead in the crypto race, vying for the unofficial position of ‘America’s crypto hub,’ by introducing crypto-friendly legislation. For instance, at the Texas Blockchain Summit, Senator Ted Cruz announced that he would like to see the state become the center of the crypto universe. In addition, Kentucky Governor Andy Beshear had signed a bill in March 2021 to reduce the sales tax on crypto miners operating in the state. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
249 days agocryptodaily
Here’s what SpiceDAO’s purchase of a Dune copy tells us about crypto bro culture
The retail interest in cryptocurrency has been bubbling away for some time now, but over the past couple of years the addition of thousands of altcoins has brought with it mass hype and speculation within the space. The promise of easy gains and widespread FOMO has led to the emergence of a subculture in the space: The crypto bro. Cryptocurrency’s “bro culture” is a problem that the industry often proliferates with abbreviations and slang terms that seem to feed a subculture of male crypto investors. What initially started out as a way to feel connected with other like-minded people interested in cryptocurrency and the blockchain, has become a phenomenon that both feeds off and spreads hype. Crypto projects were once side-gigs for people mostly already working in the tech industry, which continues to be male-dominated, however now it has grown to be a mostly boys only club that has attracted swathes of new retail traders. While there is nothing inherently wrong with a group of people with shared interests in trading crypto, the growth of a toxic bro culture is something that goes against the original values of the blockchain and its claims of providing equal access to all. According to a survey by CNBC in August last year, the number of women in crypto pales in comparison to the number of men in the space, with over 16% of Americans investing in crypto compared to 7% of women. The idea that men are simply better at investing and participating in crypto is a narrative that has been woven into the industry, and fed by an exclusionary mentality. Terms such as HODL, FOMO, and FUD form part of the vernacular of the Reddit and TikTok crypto subculture, used to build hype or express fear, but ultimately forming part of a whole dictionary of terms that make up the language of the crypto bro. While many retail traders may be familiar with this language, far less are experts when it comes to investing. Recently, a decentralised autonomous organisation SpiceDAO purchased a copy of Alejandro Jodorowsky’s Dune believing it also gave them the copyright to use the book’s script and illustrations to create NFTs. The confusion cost the DAO $2.66 million at auction - almost 100 times more than its estimated value. Christie’s sold the copy of the Dune collector item (of which there are 20) to SpiceDAO, with SpiceDAO tweeting at the time: “We won the auction for €2.66M. Now our mission is to: Make the book public (to the extent permitted by law) Produce an original animated limited series inspired by the book and sell it to a streaming service Support derivative projects from the community” The only issue with this purchase, and SpiceDAO’s intentions to monetise its content, is that they assumed they had also purchased the rights to the book alongside the physical copy. Why the DAO would assume this, particularly given the fact that there are 20 other copies, is incomprehensible, however it demonstrates the level of misinformation and FOMO that leads to big money mistakes. The role of hype and perceived scarcity in this digital space can be likened to the allegory of the Emperor’s new clothes. If enough people buy into a narrative, then the opinion of the masses is enough to combat what the reader knows to be a logical fallacy. Nonetheless, the unwillingness of the dominant force, in this case the crypto bro, to admit they are unwise, keeps them buying into it. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
260 days agocryptodaily
Do You Know How Much Your DeFi Exchange is Really Charging You?
If you keep up with even a few emerging DeFi exchanges, you know that each touts itself as the next best thing, and many have interesting, enticing features that differentiate them. While it’s easy to get caught up in all the “reward tokens”, “affiliate bonuses”, and the thousands of ways you can earn yield through staking, it’s also important to remember that if we look past the crisp logos and fun names for loyalty programs, what we really care about is net growth. I know it doesn’t have as much hype, but what really matters for any exchange is the sustainable profit you can make by investing and trading. There are a lot of variables to consider with token prices fluctuating constantly, leveraged trading strategies, and risk profiles. But at a summary level, there are two variables that matter: money in, and money out. You have to choose what risk profile you are and what individual decisions you made on trades; these are very personal choices, and no one can tell you exactly what to do. However, some decisions are more concrete and are easier to come to an objective conclusion. One decision, for example, is how much you should be paying in fees for your trading activities. The most desirable answer is “none”, but this isn’t practical as wallets, networks, and exchanges provide a valuable service, working hard to create a reliable, safe, and easy-to-use product. They deserve a fee for their services. However, not all exchanges are created equal. If we set aside the shady and low quality exchanges, there is still a vast difference in how much you might pay in fees for trading on a high quality platform. More telling is that it can be surprisingly difficult to find an apples to apples comparison of fees, allowing you to pick the lowest and maximize the ever important “Money In” side of your trading equation. The problem is that many platforms—especially those with higher fees—don’t want potential customers to make easy comparisons on which exchange charges less. If trading is tight, these additional fees could even be the difference between making money and losing it. To give you the best chance of maximizing your net gains, we’ve studied a large sampling of exchanges and have found five steps in your trading process that can hit you with fees, and several could be mostly hidden unless you are paying close attention. Fee 1: Your Wallet Crypto wallets are in many ways another platform providing a service. However, you may choose to use the wallet offered by your exchange to ensure transactions flow smoothly and there aren’t any surprise compatibility issues. However, many wallets charge fees every time you use it to deposit or withdraw crypto. While the fees are typically small, they are consistent, meaning that if you trade with high frequency, you may be turning those small fees into something more substantial. Research your wallet’s policy on fees; you may decide the low fee is worth it, but you should be very aware every time you have to pay it. Fee 2: “Convenience” Rate Now that you’ve set up your wallet, you probably want to buy some crypto. This is great, but if you are in a hurry or want the convenience of buying your token of choice quickly, you might get hit with a high fee. Because buying crypto usually involves P2P or OTC, it’s not like going to the store, picking out what you want, and buying it. You have to put your offer in and wait until someone else accepts it and completes the transaction. That said, many exchanges offer the “buy now” service, but it comes at a high premium; Bitcoin’s for example, have seen a massive spike. If you think about your investment portfolio, a 7% loss before you even begin can be incredibly discouraging. Again, we aren’t advising you to avoid this premium service; if it works for you, go for it. But know that the most popular platforms can have massive fees for the price of admission, and there are many platforms that either offer a much lower “convenience” rate, or can guide you through the process of buying directly on the market and avoiding this fee altogether. Fee 3: Exchange Fees This one is almost a subcategory, as exchanges have a number of ways to extract fees, and you might not realize it until it’s too late. Many exchanges bring in customers by offering a 0 deposit fee, and customers assume the fees are based per trade. While this is often the case, many of these exchanges will also add an extra high withdrawal fee, trapping customers who assumed they only had to pay per trade. It’s a brilliant business model, unless you want to keep satisfied customers. In terms of exchange trade fees, these too can range from a variable rate depending on the trade amount, a flat percentage, or a flat fee. This can all be very confusing, so do your homework instead of jumping on the exchange you saw on the news last night. Some platforms, like the OTC exchange, have seen the customer confusion/frustration and have made clearing it up a key selling point. Their platform ensures customers know their fee structure up front to avoid surprises, with no deposit, flat percentage per trade (0.45% at the time of writing), and a flat currency conversion rate. Is it the best choice for you? That depends on how you plan to trade (deposits, trade volume, withdrawals, currency conversions). The point is, when trying to calculate your very important “money in, money out” equation, having zero surprises is critical. Hopefully other exchanges will take notice and start simplifying fee structures instead of sneaking in a bit more profit at the risk of losing customers. Fee 4: Gas Fees While you are shopping for an exchange to use, a big underlying cost is the ecosystem itself. A key theme in 2021 was watching these “gas fees” spike, turning many a trader’s gains into losses. There is almost too much to cover here, but many great comparison guides on L1 chains and their network fees, so compare prices and include them when considering your exchange. Fee 5: Currency Conversion This fee has been around probably since the invention of the world’s second currency. If you have to exchange currencies and aren’t familiar with how to convert them, find a good guide (like this one) to give you the knowledge and tools you need. You likely won’t find an institution that doesn’t have conversion fees, so the best you can do is have the skills to calculate them and shop around. Wrapping Up At the end of the day, how you decide to trade is up to you. But if your goal is to earn money, you need to become an expert at not just the trading itself, but all the additional trading costs that can come from your wallet, exchange, network, transaction, and more. Doing so gives you the tools you need to make the best decisions to maximize your returns, eliminating surprises and letting you trade with confidence. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
351 day agocryptodaily
Edward Snowden Calls CBDCs A “Perversion Of Cryptocurrency”
Whistleblower and privacy advocate Edward Snowden wrote a scathing opinion editorial on Central Bank Digital Currencies (CBDCs). Snowden was highly critical of CBDCs, calling them the “newest danger cresting on the public horizon.” He also stated that rather than being an innovation, they are a perversion of cryptocurrency and a cryptofascist currency. CBDCs Deny Users Ownership Of Their Money Although central banks and politicians worldwide have backed Central Bank Digital Currencies (CBDCs), several critics believe that they are no different than centralized databases. Snowden, the former Central Intelligence Agency (CIA) and National Security Agency (NSA) subcontractor, published his article on Saturday, talking about what he thinks about CBDCs. A Fan Of Decentralized Crypto Assets, not CBDCs The article talked about what Snowden thought CBDCs bring to society. While Snowden is a fan of decentralized assets and cryptocurrencies such as Bitcoin, Ethereum, and others, he does not feel the same about CBDCs, highlighting his concern when it comes to the adoption of the technology. Snowden emphasized that he believes CBDCs are not a digital dollar, unlike what most sources would want to make you believe. He wrote in the article, “I will tell you what a CBDC is NOT — it is NOT, as Wikipedia might tell you, a digital dollar. After all, most dollars are already digital, existing not as something folded in your wallet but as an entry in a bank’s database, faithfully requested and rendered beneath the glass of your phone. Neither is a Central Bank Digital Currency a State-level embrace of cryptocurrency — at least not of cryptocurrency as pretty much everyone in the world who uses it currently understands it.” Denying Users Ownership Of Their Assets Snowden further described cryptocurrencies as a perversion of cryptocurrency that was explicitly designed to deny users the basic ownership of their money and making the state a party to every transaction. “Instead, a CBDC is something closer to being a perversion of cryptocurrency, or at least of the founding principles and protocols of cryptocurrency—a cryptofascist currency, an evil twin entered into the ledgers on Opposite Day, expressly designed to deny its users the basic ownership of their money and to install the State at the mediating center of every transaction.” Snowden concludes his article by stating that people earn a living through their labor and asked the US government, the Fed, and the Treasury whether the money should be centralized by the state. ”Of all the things that might be centralized and nationalized in this poor man’s life, should it really be his money?” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Ubcoin Market

The live price of Ubcoin Market (UBC) today is ? USD, and with the current circulating supply of Ubcoin Market at 342,272,358 UBC, its market capitalization stands at ? USD. In the last 24 hours UBC price has moved -0.001319 USD or -0.77% while 19.1576 USD worth of UBC has been traded on various exchanges. The current valuation of UBC puts it at #0 in cryptocurrency rankings based on market capitalization.

Learn more about the Ubcoin Market blockchain network and how it works or follow the price of its native cryptocurrency UBC and the broader market with our unique COIN360 cryptocurrency heatmap.

Ubcoin Market Price? USD
Market Rank#0
Market Cap? USD
24h Volume? USD
Circulating Supply342,272,358 UBC
Max SupplyNo Data
Yesterday's Market Cap134,392 USD
Yesterday's Open / Close0.001712 USD / 0.000393 USD
Yesterday's High / Low0.002702 USD / 0.000387 USD
Yesterday's Change
-0.77% ( 0.001319 USD )
Yesterday's Volume19.1576 USD
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