PayPal brings Bitcoin to U.K. clients, mining difficulty jumps 14% and technical assistance for El Salvador
PayPal users from U.K can start trading cryptocurrencies
PayPal users from the United Kingdom with accredited identities will start accessing cryptocurrency trading soon. However, cryptocurrency transactions for its business account are not supported yet.
Starting from this week, U.K residents will have initial access to buying, holding, and selling cryptocurrencies via PayPal. This development will make a remarkable milestone for a firm that started providing digital asset services within one year.
Bitcoin mining difficulty jumps 14%
On Wednesday, Bitcoin (BTC) mining difficulty has just jumped once again, for the third time in a row, forming a new increase streak.
Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, jumped by 13.24%, reaching 17.6 T. This is the highest increase since May this year, and a significant jump from the 15.56 T, reached during the previous adjustment two weeks ago.
The hashrate dropped enormously due to the exodus of Bitcoin miners out of China. Since the rigs are installed elsewherea, like in Kazachstan and the United States, the hashrate starts to increase. This causes the difficulty to increase as well.
Regional development bank to help El Salvador
The Central American Bank for Economic Integration (CABEI) participated in a recent meeting of the Central American Monetary Council, where participants asked about El Salvador’s bitcoin plans and showed interest.
The head of investments Carlos Sanchez said the bank will assist El Salvador to design a legal framework for the adoption of bitcoin and to make sure strict international money laundering protocols are adhered to.
The assistance is meant to help El Salvador “navigate waters that have yet to be explored,” said Sanchez.
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