If a virtual currency is listed on an exchange and the exchange rate is established by market supply and demand, the fair market value of the virtual currency is determined by converting the virtual currency into U. Donors who give cryptocurrency donations to The Salvation Army USA Western Territory will receive an electronic donation receipt through the Engiven donation platform in US dollars with comprehensive details about each transaction.
As with any form of electronic payment or transaction, there are risks, however, our vendor Engiven has created certain safeguards they believe are needed to ensure that the transaction is secure. With the transfer of cryptocurrency from donor to nonprofit, Engiven believes the transaction can actually be more secure than many other forms of payment, provided certain protocols are followed: 1 By using the Engiven platform, both the nonprofit and the donor are required to undergo a simple but effective Know Your Customer KYC and Anti-Money Laundering AML screening which provides a high level of background security to ensure both parties are properly screened.
Donate Cryptocurrency. Its growth has been faster than ever, yet its future has never been so unclear. Flush with time on their hands and few activities to spend money on, many consumers have forayed into crypto trading for the first time during the pandemic. This all leads to one big trend. Cryptocurrency, once only understood among a relatively fringe community of anti-establishment investors, is now becoming a household name — and quickly.
Investors believe in regulation, yet are worried about many of the impacts that regulation will bring about. Digging into these nuances is key to understanding overall consumer sentiment — and predicting consumer behavior — around a very uncertain future of cryptocurrency. The number of cryptocurrency investors has been steadily increasing around the world for a while, but recent growth has been explosive.
Rather, everyday consumers have seen this new asset class as a way to pad their portfolios with potentially more rewarding, albeit riskier, assets. Compared to , older consumers have begun to back crypto at much faster rates. In the U. For a lot of these current and potential investors, crypto offers a new way to handle their finances, and many also find that the financial freedom of crypto has liberated them from the rigidity of traditional banking.
More recently, the upsides of cryptocurrency have begun to attract institutions, and traditional finance is rushing to cater to the increased demand, such as U. Here begins the paradox. The institutional money that has been pouring into cryptocurrency over the past few years has begun to change the power structure of the market. Thirteen years ago, cryptocurrency recruited users out of a desire to shake up the exclusive, institutionalized world of finance; to create a widely accessible way to move money and pay for goods and services, regardless of individual circumstances.
Cryptocurrency, in principle, relies on the collective actions of everyday users to self-regulate; they keep the ledger of transactions — the blockchain — secure and updated, and the process allows anyone with a computer the ability to mine coins. Fast-forward to , and the future of cryptocurrency is quite different. Over time, the mining network has been ring-fenced by a few companies who can provide the huge amounts of computing power and electricity required to mine at scale, making it very difficult for independent users to get involved.
What started out as a fringe movement has, like so many other things, gone corporate as a result of its own success. Alongside corporations entering into the market, crypto trading and mining has caught the eye of government overseers like never before. Since the invention of bitcoin, governments have done relatively little compared to traditional investment categories to regulate or moderate the market.
For the most part, cryptocurrency has been allowed to spread around the world as a uniquely decentralized financial asset. Now, the laissez-faire attitude toward decentralized finance is waning. Perhaps surprisingly, investors are actually supportive of new regulations, though they have quite conflicting views about what these policies could mean and who should create them.
The details of what government oversight will look like, however, matter a great deal to investors. On the one hand, many investors believe greater regulation could legitimize the fledgling marketplace — enabling more businesses to accept digital currencies, increasing their value and security from fraud, all while reducing volatility and criminal activity.
On the other hand, many also worry cryptocurrency regulation could effectively limit its peer-to-peer nature, which drew initial investors in. They also see drawbacks to crypto regulation as a potentially larger threat, not just to their wallets, but to the individual freedoms they currently experience in the decentralized and anonymous marketplace.
The paradox here lies in the difficult balance between wanting regulation, and fearing the loss of the fundamental character of crypto that would result from that very regulation. Regulation offers protection and stability; while crypto has thrived from volatility and anonymity. Finding a middle ground between regulating a lawless commodity and allowing it to continue to build value will be a challenge for governments, coin exchanges, and investors alike. For this reason, support for regulation is directed not toward governments, but toward payment companies and exchanges themselves.
Hundreds of others have attempted and failed to launch their own digital coins. The market is now coming under increasing scrutiny by regulators. Despite much skepticism, the currency started to see serious interest from institutional investors. Two exchanges began Bitcoin futures trading, allowing speculators to punt on the incredible volatility in the value of the cryptocurrency.
From central banks to respected investors, almost the entire financial establishment warned of a massive Bitcoin bubble, which they said can only end in disaster for holders of the digital currency. Among them was Nobel prize-winning economist Joseph Stiglitz who said Bitcoin "ought to be outlawed. More intense volatility followed early in the New Year, only to be reversed when it plummeted by almost half.
Are we in for an even bigger rollercoaster ride if Wall Street adopts Bitcoin? Jehan Chu, the Hong Kong-based co-founder of blockchain platform Kenetic, told the Reuters news agency it was an amazing move by the Marshall Islands and was the way of the future. But Chu said the currency was unlikely to hold much appeal for international investors or be particularly valuable outside the Marshall Islands. Several governments, including China, Estonia, and Iran, have discussed plans for their own digital currency.
DW editors send out a selection of the day's hard news and quality feature journalism. You can sign up to receive it directly here. Some 2, scientists, policymakers and managers came together in Honolulu in June for the world's largest summit dedicated to the future of coral reefs. With coral reefs threatened by global warming, participants at the 13th International Coral Reef Symposium are calling for a joint rescue effort.
The event gathered guests from 97 countries, including the presidents of Palau, Micronesia, and the Marshall Islands. Coral reefs are a key source of income in those countries, mostly through tourism. The Pacific nations are worried about the future of their tourist hotspots, as coral reefs face so-called "bleaching" due to rising sea temperatures. Bleaching happens when coral is stressed by hot ocean waters or other changes in the environment.
In response, corals may release tiny symbiotic algae which drains them of color. More importantly, bleaching affects their ability to feed and reproduce. Severe or prolonged bleaching might kill off corals entirely. Scientists have detected bleached coral in the past two years in oceans around the world. They expect the process to continue thought The 2,kilometer-long 1,mile-long Great Barrier Reef is the world's largest coral reef system and its largest living structure. Almost one-half of the coral in the reef's northern third have died in the past three months [in ], according to James Cook University professor Terry Hughes.
The most affected area is remote and unpolluted, with very little fishing and no coastal development. Despite the bad news, scientists claim the problems can be managed with proper funding and political backing. The scientific community at the conference pledged to work with leaders across the world in order to "curb the continued loss of coral reefs. Visit the new DW website Take a look at the beta version of dw. Go to the new dw.
More info OK. Wrong language? Change it here DW. COM has chosen English as your language setting. COM in 30 languages. Deutsche Welle. Audiotrainer Deutschtrainer Die Bienenretter. News Sovereign cryptocurrency: Marshall Islands to launch world-first digital legal tender As cryptocurrencies become increasingly mainstream, a small island nation will launch the first digital legal tender.
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