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Australia is moving toward regulating cryptocurrencies like Bitcoin and Ethereum under new anti-money laundering legislation. According to the Australian Broadcasting Corporation (ABC), Parliament will vote on the measure this week. If it passes, it will place Bitcoin and other cryptos under the auspices of Australia’s financial regulatory agency.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
People seem to enjoy pitting gold and Bitcoin against each other. But do I really have to pick just one? While cryptocurrency and precious metals have many similarities, in many ways they are polar opposites. And you can have both.
Cryptocurrencies have shown a lot of resiliency. Every time doubters proclaim Bitcoin is on the mat for good, it manages to claw its way back up. Bitcoin went into a freefall after the Chinese government announced plans to ban cryptocurrency trading on all domestic exchanges. But early Monday, the digital currency hit its highest level since early September. […]
Even some of the biggest supporters of Bitcoin and other cryptocurrencies recognize the stability of gold. Last week was a bad week for Bitcoin. It’s price dropped significantly in the wake of a Chinese government crackdown on cryptocurrency exchanges in the country. Bitcoin’s price has recovered a bit this week, but a recent article published by […]
