Robinhood Going Public With Big Crypto Plans: 5 Things to Know

Robinhood Going Public With Big Crypto Plans: 5 Things to Know

Robinhood is going public on Thursday by means of an unusual IPO that is offering customers (and crypto fans) early access to its stock. Buying Robinhood shares provides a way to get exposure to crypto through the stock market. Robinhood’s crypto ambitions are bigger than most people realize. The popular stock and crypto buying app Robinhood will…

South Korea Proposes Law Allowing Direct Seizure and Sale of Crypto Assets to Pay Overdue Taxes

South Korea Proposes Law Allowing Direct Seizure and Sale of Crypto Assets to Pay Overdue Taxes

The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers. “The revision will allow direct seizing without court-approved change in ownership records. Assets held by tax dodgers in the form of digital coins will no longer evade seizure…

US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk

US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk

U.S. Senator Sherrod Brown says cryptocurrencies are not real dollars and they “put Americans’ hard-earned money at risk.” Referring to decentralized finance (defi) as “a shady, diffuse network of online funny money,” he said, “if we want a solution to Americans’ legitimate fears about our banking system, shady start-ups are not the answer.” Senator Brown’s…

Sen. Warren Says Crypto Could Solve Big Banks’‘Enormous Failure’ Of Not Serving Millions Of Low-Income Americans

Sen. Warren Says Crypto Could Solve Big Banks’‘Enormous Failure’ Of Not Serving Millions Of Low-Income Americans

Sen. Elizabeth Warren (D-Mass.), a vocal advocate for more regulation of nascent cryptocurrencies, said Wednesday that digital currencies—and particularly those issued by central banks—could help introduce the millions of of low-income Americans who’ve long gone without bank accounts to the broader U.S. financial system, seemingly signaling support for a cryptocurrency offering that’s picking up steam…

ESCROW COMPANY ISSUES FIRST-EVER BITCOIN-BACKED REAL ESTATE LOAN

ESCROW COMPANY ISSUES FIRST-EVER BITCOIN-BACKED REAL ESTATE LOAN

Glen Oaks began accepting Bitcoin in 2018 and sees the loan as proof the cryptocurrency’s value proposition is becoming clearer to debtors and creditors. Glen Oaks Escrow, one of the largest independent escrow companies in California, has facilitated its first refinancing through a Bitcoin-backed loan. In a press release issued today, the company said this…

Profunds launches first publically available Bitcoin Mutual Fund in the US

Profunds launches first publically available Bitcoin Mutual Fund in the US

The rising demand for Bitcoin has made way for various regulated investment options offered by large financial institutions. One such product is now being offered by ProFunds, a firm that offers a diverse lineup of mutual funds. It has now launched the first publically available Bitcoin mutual fund in the United States. The fund would be called Bitcoin…