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Cryptocurrency Gateway CryptoCloud Released a Major Update: Accelerating Transactions, Automatic USDT Conversion, AML Check and Brand Guide

Poland, Warsaw, May 21, 2024 (GLOBE NEWSWIRE) --

CryptoCloud aims to empower businesses to integrate cryptocurrency payments seamlessly and unlock new opportunities. Their team understands the importance of exceptional performance, user-friendliness, and robust security in today's dynamic financial landscape. That's why they're constantly innovating and refining the platform to deliver a best-in-class experience.

Key Updates

Let's delve into the latest advancements designed to streamline the payment process, safeguard merchants assets, and empower to harness the full potential of cryptocurrencies.

Experience Blazing-Fast Transaction Speeds

The CryptoCloud Gateway team has significantly accelerated confirmation times for USDT, USDC, and TUSD stablecoins on the Tron network. Their cutting-edge search algorithm expedites confirmations without compromising network security.

This translates into a smoother payment experience for customers. Transactions in these popular stablecoins are now confirmed in under a minute, minimizing friction at checkout and reducing the burden on the support team of business owners from inquiries about payment status.

Enhanced Payment Convenience

Working with cryptocurrency payments can be a hurdle, especially for customers new to digital currencies. Incorporated user-friendly cryptocurrency payment instruction templates into the CryptoCloud documentation can bridge this gap. This readily available template simplifies the payment process for clients and empowers merchants to educate their customers on how to pay using cryptocurrency.

Placing the template on a website or checkout page significantly improves user experience and boosts conversion rates, especially among customers who are new to the world of cryptocurrencies.

Volatility Protection with Automatic USDT Conversion

The inherent volatility of cryptocurrencies can be a concern for businesses. To shield from these market fluctuations, CryptoCloud merchants can now activate the automatic conversion of incoming Bitcoin (BTC) and Litecoin (LTC) payments to USDT, a stablecoin pegged to the US dollar. This innovative feature ensures funds remain protected from price swings, minimizing the risk of financial losses.

Platform identifies the most favorable exchange rate among a network of more than 10 licensed operators, maximizing financial security of merchants. The feature can be conveniently enabled within project settings, requiring no additional configuration.

Effortless Payments with Static Wallets

For businesses that work with repeated payments (e.g., account top-ups), managing invoices can become cumbersome. CryptoCloud introduces static wallets, a game-changer for streamlining this process. This new feature allows customers to make payments to the same permanent address, eliminating the constant need to generate new invoices for each payment cycle. Funds are instantly credited to the account upon receiving an API response, accelerating the payment process and enhancing convenience for both merchants and their customers.

Advanced Security with AML Transaction Checks

Security is paramount at CryptoCloud. New Anti-Money Laundering (AML) transaction check empowers business owners to mitigate fraudulent activity and potential exchange account suspensions. This automated system meticulously scrutinizes every transaction, flagging and halting high-risk transactions in their tracks.

This proactive approach safeguards assets of CryptoCloud clients and bolsters the security of cryptocurrency operations. The feature can be effortlessly activated within project settings, requiring no modifications to existing integration.

Boost Brand Awareness with Branded Payment Icons

The CryptoCloud team designed a comprehensive guide on integrating branded payment icons onto websites. These icons effectively communicate to customers who accept cryptocurrency payments, a payment method increasingly favored by a tech-savvy demographic. Strategically placed icons (e.g., on the payment methods page) attract crypto clientele and enhance brand recognition. Integration is straightforward, allowing merchants to insert HTML code or manually upload files from the provided archive.

The Future is Bright with CryptoCloud

CryptoClouds commitment to innovation continues beyond here. Automatic USDT conversion, static wallets, and AML verification are just the beginning of a series of advancements designed to propel businesses into the future of finance. Stay informed about upcoming developments as they continuously expand the platform's functionality and optimize services. Explore additional features on their website and FAQs for more information. Partner with CryptoCloud Gateway and unlock the full potential of cryptocurrency payments for business.

Contact: Contact Name:CryptoCloud Contact Person:PR Team Company E-mail: marketing (at) cryptocloud.pro Website: https://cryptocloud.plus/en

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

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Cryptocurrency Gateway CryptoCloud Released a Major Update: Accelerating Transactions, Automatic USDT ... - InvestorsObserver

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Bitcoin (BTC-USD) advanced markedly on Monday in late afternoon trading, briefly topping $70K, leaving behind the subdued price action of the past few days.

The original cryptocurrency (BTC-USD) rose by as much as ~6% to $70.3K, before paring gains to $69.6K at the time of writing. That marked the first time in which BTC tested the $70K mark since early April.

BTC wasn't the only token experiencing strong intraday gains. Ether (ETH-USD) shot up 11.5% to $3.43K, Solana (SOL-USD) +8.2%, Cardano (ADA-USD) +3.4% and Dogecoin (DOGE-USD) +5%.

There wasn't a clear catalyst supporting the turnaround; however, it came on the same day that failed crypto lender Genesis won court approval of its bankruptcy liquidation plan to return billions of dollars to its defrauded customers. The news perhaps boosted investor confidence in crypto.

In any case, the rally helped push up crypto-related stocks. Marathon Digital (MARA) +15%, Bit Digital (BTBT) +22%, Greenidge generation (GREE) +15%, Riot Platforms (RIOT) +9%, MicroStrategy (MSTR) +9% and Coinbase (COIN) +8.5% all finished Monday's session notably higher.

Read this article:

Bitcoin jumps back to over $70K, buoying crypto-tied stocks (Cryptocurrency:BTC-USD) - Seeking Alpha

US presidential candidates on both sides of the two-party spectrum are taking advantage of the crypto industry.

Youll notice how I didnt say that crypto will be a hot button topic this election season, or that the crypto space will play any sort of role in shaping election discourse.

No. Its clear to me that some of the main players in this presidential race are planning to exploit the crypto world for money and votes and those in crypto should stop playing along.

Why should favorable cryptocurrency legislation take precedence over all else? Perhaps you really believe that the financial system is broken, and that a path forward for cryptocurrency in the US is the best way to create a new, more egalitarian society that will allow all to flourish.

But thats not what I see.

What I see is a small number of wealthy individuals, who made that wealth from cryptocurrency, looking for the government to let them continue growing that wealth unfettered.

Among diehard crypto evangelists right now, voting for crypto means voting Republican for president. According to this side of the debate, any other decision will virtually assure the death of the American crypto industry.

This fear (true or not) has led some major personalities in Web3 to push crypto supporters into becoming single-issue voters. Their message is clear: Choose your 2024 candidates based solely on their cryptocurrency stance, or else.

In other words, Americans should prioritize their own selfish financial interests over broader societal and ethical concerns. When you promote the idea of voting for Americas crypto industry above all else, youre deciding to ignore all of the other issues that are really at stake this election season healthcare access, Social Security, gun legislation, womens rights, LGBT issues, immigration, to name a few.

I want to be clear I do not care if you vote Republican, Democrat, or third-party, as long as you care about the issues at stake, and truly believe that the candidate in question is representative of your views. But voting for a candidate you would not otherwise support, simply because they favor the deregulation of a sector in which you hold a profit motive, is a compromise that you should not make.

Cryptocurrency has undeniably (and perhaps unfortunately) become a partisan issue.

Blockchain technology, which underpins the entire crypto industry, is neither inherently good or bad. But its the actions of individuals and what they do with this technology that has drawn regulatory scrutiny over the years. This has transformed a neutral technology stack into a deeply partisan issue, with sharply divided views across party lines concerning its integration into the American financial system and beyond.

On the left side of the political spectrum the same side already in favor of stricter financial regulations politicians often place crypto against a global backdrop of scams, money laundering and market manipulation to strengthen their calls for oversight. Their tagline is to keep consumers safe.

Lawmakers on the right who already favor less financial regulation as a rule instead posit that intense crypto regulation will cripple innovation and impede technological advancement. They say that their aim is to keep American innovation moving forward at a brisk pace, far ahead of other countries like China.

However, their supposed motivations are arguably applicable only during the election season. Because what all politicians actually want is your attention, your money, and ultimately your ballot. As with most issues, when the time comes, it is unlikely that much in the way of meaningful change will come from either side of the aisle. Instead, it will be the actions of the innovators within the crypto space that move the needle forward which you would think that anyone who truly supports a limited government would appreciate.

The very idea that crypto needs to be voted into office has led to the platforming of some very unsavory people who really have nothing to do with crypto at all besides a shared desire to solicit donations from this niche, newly rich subset of Americans.

Vivek Ramaswamy gave a fireside chat at Messaris Mainnet last fall, promoting his presidential crypto plan a few months before he dropped out of the race. Consensus will have Robert F. Kennedy Jr. speak this year, announcing the news with a headline calling him a pro-crypto presidential candidate. I can think of a lot of other modifiers for RFK Jr. that are more headline-worthy than his stance on crypto.

And most importantly, Crypto Twitter has, for the most part, widely embraced former President Donald Trumps words of support for NFTs and crypto. And far be it for me to say whether that support is genuine, or more largely based on the fact that hes made millions of dollars selling NFTs branded with his own image.

Backing these candidates simply because they seem to make positive noise about crypto isnt taking back the power from Wall Street or helping make the world a more financially equitable place its falling for empty campaign rhetoric.

The idea that any presidential (or gubernatorial or senatorial) candidate is trying to win favor with the crypto crowd because they truly believe in crypto is laughable. These candidates are looking for crypto money, nothing more and nothing less. Those in crypto who support such candidates are either willing to pretend that these officials understand even the basic strokes of how crypto works under the hood (let alone its implications for the broader frameworks of finance and democracy), or they are willing to compromise their morals and ethics for the mere possibility of moon-making crypto legislation in the future.

As the one, big, obvious example: If you believe that Donald Trump will truly support the crypto industry, you have to be willing to overlook his judicially acknowledged sexual assault charges, overt institutional fraud and genuine attempts to overthrow American democracy when you cast your vote in November.

Is cryptocurrency really that important to you?

Molly Jane Zuckerman is the opinion editor at Blockworks. She previously led educational content at CoinMarketCap and ran the news desk at Cointelegraph. Molly Jane is now based in New York after almost a decade in Russia, and can talk your ear off about Russia lit and detective novels.

Jeff is an editor at Blockworks, based in the United States. He has been a part of the blockchain space for over a decade, most recently working as US news editor at Cointelegraph. His areas of focus include empowering artists and creators through technology, using proof-of-participation methods to reward self-improvement, reducing the effectiveness of Sybil attacks, seeking transparent equity for disadvantaged communities, and exploring fairer models of world governance.

Read more:

Only a fool would vote on crypto alone - Blockworks

As Americas cryptocurrency industry is increasingly becoming a significant player in the financial landscape, everyones eyes are set on how the upcoming election winner is going to bring a crypto-friendly landscape. Uniswap founder Hayden Adams has shed light on their potential impact on the upcoming U.S. presidential election.

Hayden Adams reveals a striking fact: nearly 40% of American adults now own some form of digital currency. This surge in ownership signals a significant shift in financial habits, setting the stage for cryptocurrencies to influence political decisions.

Despite regulatory hurdles from the U.S. Securities and Exchange Commission (SEC), Adams remains confident in the resilience of the cryptocurrency market. He points to past attempts to stifle its growth, which ultimately failed, as evidence of its enduring strength.

The impact of this trend cannot be overstated. With a sizable portion of the population now holding digital assets, the political implications are profound.

Mark Cuban, a well-known entrepreneur and investor, echoes Adams views, stressing the importance of clear regulations and political support for the cryptocurrency industrys growth. He emphasizes the need for regulations tailored to foster innovation and economic progress.

Regulatory clarity is paramount in fostering an environment conducive to innovation and economic growth. Without it, the industry faces uncertainty, hindering its potential to contribute positively to the economy,

Cuban urges President Joe Biden to seize the opportunity to clarify regulations before the 2024 election, potentially winning favor with the growing crypto community. He calls on Congress and the Commodity Futures Trading Commission (CFTC) to enact laws suited to the crypto landscape.

You could solve this problem for Biden by passing legislation that defines registration specific to the crypto industry.

Cuban has specifically aimed his criticism at the U.S. Securities and Exchange Commission, particularly under the leadership of Gary Gensler. Genslers tough stance on cryptocurrencies including discarding Judge Torres judgment on Ripple, and discarding the Howey Test has drawn him criticisms endlessly. Industry leaders argue that such enforcement-focused regulation will hinder innovation and not focus on investor protection.

Beyond regulatory concerns, theres growing discontent within the crypto community toward the Biden administrations approach. Charles Hoskinson, founder of Cardano, warns of potential electoral consequences if the administration continues to alienate crypto enthusiasts.

Its clear that the Biden administration is working against the interests of the crypto industry, which could have repercussions in the upcoming election.

Cuban highlights the growing influence of crypto voters, stressing that their concerns cant be ignored. He cautions that the SECs actions risk losing legitimacy and may sway votes in the upcoming election.

The next U.S. presidential election is not just based on human rights being properly enforced but also a fair approach towards cryptocurrency adoption and regulatory clarity. When voices like Hayden Adams and Mark Cuban have spoken about issues in the crypto community, it is sure to influence electoral outcomes.

Also Check Out : Trump Makes U-Turn on Cryptocurrency; Pledges Support for Digital Donations

This is just the beginning of the crypto and politics conversation. What are your predictions for the future?

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Uniswap Founder, Cardano's Hoskinson and Mark Cuban Reveals Crypto's Influence on the Next U.S. Presidential ... - Coinpedia Fintech News

There might be as many opinions about crypto as there are cryptocurrency tokens. And with tens of thousands of digital assets populating the crypto market, thats certainly a lot of opinions.

That sheer scale of noise is in part why it can be so challenging to get a clear view of the Web3 landscape something that holds true for regulators, retail investors, consumers and businesses alike.

This, as the regulatory environment surrounding cryptocurrencies is becoming increasingly complex within the U.S., with the House of Representatives voting Wednesday (May 8) to approvea resolutionrejecting U.S. Securities and Exchange Commission (SEC) cryptocurrency accounting guidance alleged to have deterred banks from handling crypto customers.

Almost immediately, President Biden released a statement saying that he would veto the resolution if it made it so far as to reach his desk.

The Administration strongly opposes passage of H.J. Res. 109, which would disrupt the SECs work to protect investors in crypto-asset markets and to safeguard the broader financial system as explained in staffs accompanying release, SAB 121 was issued in response to demonstrated technological, legal, and regulatory risks that have caused substantial losses to consumers, said the Executive Office of the President in a Wednesday statement.

If the President were presented with H.J. Res. 109, he would veto it, the release concluded.

If you want Americans to be able to engage with digital assets safely and securely, banks which are some of the most regulated businesses in our country are probably the best way,Rep. Patrick McHenry (R-N.C.), chairman of the House Financial Services Committee, said in response.

Read more: This Week in Web3: Wells Notices, Crypto Payments and Usability

Still, amid regulatory and political developments, crypto still has its prominent adherents. One of whom is Block Chairman and Co-founder Jack Dorsey, a leading figure in the payments industry, who has made the bold prediction that bitcoins price could reach $1 million by 2030. As PYMNTS reported, Blocks existing $200 million investment in bitcoin grew by around 160% during the companys most recent financial quarter, $573 million.

All thats to say that Dorsey may not be the most objective source when discussing the growth of a currency with no backing. His optimistic forecast is in part based on the belief that Bitcoin will play a crucial role in the future of finance, serving as the internets native currency.

And, of course, for bitcoin or any crypto asset to reach such a valuation, the regulatory stars will need to align. A situation that continues to look unlikely, at least in the U.S.

For example, Web3 company Ripple is running into fresh SEC trouble following the April announcement of its own dollar-pegged stablecoin, as the company moves forward with its plan to expand itspayments business in the U.S.

In a Tuesday (May 7) filing, the SEC wrote, Ripples primary business continues to be, as it has been since 2013, unregistered sales of XRP. It also plans to issue a new unregistered crypto asset, arguing that Ripple has built its Web3 business by leveraging the sale of unregistered securities, and that the stablecoin project can be painted with the same brush, too.

Read more: What CFOs Should Know About the Growing Use of Stablecoins

Still, in todays post-bitcoin-ETF landscape, crypto is working hard on making further inroads into the traditional financial sector.

Big banks and financial institutions are much more interested today than they certainly were five or six years ago, when we rolled out some products for the first time,Brooks Entwistle, senior VP of global customer success and managing director atRipple, told PYMNTS this fall. You certainly almost never saw the boardroom when you brought up the topic of blockchain and especially crypto in the early days.

And this receptivity is having repercussions across the marketplace. Online brokerageRobinhood Marketson Wednesday (May 8) reported first-quarter profits that exceeded expectations, driven bystrong cryptotrading volumes boosted by positive sentiment toward the crypto industry.

However, Robinhood faces challenges in the form of aWells noticefrom the SEC, indicating potential enforcement action against the company. This development raises concerns about the future of Robinhoods crypto trading arm.

That, it seems, exemplifies the state of the crypto sector in 2024: two steps forward, and three steps back. Or maybe, it is the other way around only time will tell.

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Making Sense of the State of Crypto in 2024 - PYMNTS.com