PRESIDENT Biden may crackdown on cryptocurrency after the White House issued a statement drawing attention to potential pitfalls of the currency such as ransomware and other cyber threats.
It read: “Cyber threats can affect every American, every business regardless of size, and every community.
“That’s why my administration is marshalling a whole-of-nation effort to confront cyber threats.”
The statement also signaled that the US will gather 30 other countries, including NATO and G7 allies, to discuss responses to cybercrime.
“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.
Federal Reserve chair Jerome Powell also announced Thursday that there are no plans to ban cryptocurrency in the US, and prices soared 10 percent.
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Paraguay is viewed by many as the next likely candidate for Bitcoin adoption.
That belief comes, in part, as a response to local congressman Carlos Rejala drafting legislation to make the nation more attractive to the crypto market.
Rejala’s plans will allow crypto firms to finance their operations in Paraguay using digital currency, as well as remit dividends abroad and capitalize any crypto profits into local banks, ProactiveInvestments.com reports.
Rejala also said that the country’s low electricity, costs, and the fact it sources most of its power from renewable energy, is a key advantage amid concerns about the environmental impact of crypto mining.
Should the bill pass, Rejala previously suggested he’d seek to present another bill to make Bitcoin legal tender later this year.
WHAT DO THE EXPERTS SAY?
Shaun Heng, vice president of growth and operations at CoinMarketCap told The Sun that it’s challenging to assess the risk of many crypto projects like Alchemy Pay.
And while he isn’t a fan of Alchemy Pay’s crypto-linked cards, he did tout one its partners Binance, which is the largest crypto exchange by trading volume globally.
Heng said: “The partnership with Binance is most definitely a good sign of validation for the project.”
CAN ALCHEMY PAY REACH $1?
Since the cryptocurrency first began trading nearly 12 months ago, it has skyrocketed by more than 250%, according to Coinbase.
To hit $1 in a few months, Alchemy Pay would have to rise by around 10 times or 1,000%.
By the end of the year, Alchemy Pay is expected to hit just $0.10536, according to Coinarbitragebot.
By 2024, Alchemy Pay is forecast to reach $0.51321, representing a nearly 400% increase from its current levels.
Meanwhile, Pick A Crypto is a little more bullish and thinks the price of Alchemy Pay can range somewhere between $0.20 and $0.50.
Then, between 2022 and 2025, Pick A Crypto thinks it can range from $0.80 to $2.50.
ALCHEMY PAY PART 3
It will be accepted by…