Day: September 6, 2018

Iran’s Recognition of Crypto Mining Prompts Local Bitcoin Price Spike

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The Iranian government has recognized cryptocurrency mining as a lawful activity as part of its effort to introduce a national cryptocurrency – a move that saw bitcoin’s price briefly spike to record levels on local exchanges. According to news agency IBENA, which is affiliated to the Central Bank of Iran, Abolhassan Firouzabadi, the Secretary of Iran’s Supreme Council of Cyberspace stated on Tuesday that cryptocurrency mining “has been accepted as an industry in the government.” Further, the official said the decision was arrived at after consensus among other relevant government agencies such…

Grayscale Launches Investment Trust for Zen Cryptocurrency

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Cryptocurrency asset manager Grayscale Investments has officially launched the ZEN Investment Trust for accredited investors, the company announced Thursday. Centered around the privacy token zen (formerly known as zencash), the investment trust is a single-asset vehicle, meaning it only contains the one cryptocurrency. It is the latest single-asset investment trust launched by Grayscale, joining bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, XRP and zcash. The trust is already open to institutional and accredited investors, according to a press release. The trust “marks a significant milestone” for the Horizen platform, which…

Circle Taps Former US Homeland Security Official as New Legal Chief

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Circle Internet Financial has announced the hiring of a former U.S. Department of Homeland Security (DHS) official as its chief legal officer. As reported on the company’s blog, the cryptocurrency startup has welcomed former DHS acting general counsel Gus Coldebella to its legal and senior leadership team. Going forward, Coldebella will oversee all of the firm’s legal, compliance, regulatory and government affairs in this capacity. He will also be tasked with helping Circle in its global expansion, as the firm works with lawmakers and regulators internationally to begin providing services,…

Stock Brokerage EF Hutton to Launch Crypto Reports for ‘Confused’ Investors

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U.S. stock brokerage EF Hutton is hoping to educate investors interested in, but “confused” by, cryptocurrencies. The company announced Wednesday that it is to publish research reports that will delve into into cryptocurrencies, specifically focusing on bitcoin, ethereum, XRP, EOS, litecoin, bitcoin cash and cardano. The reports will include a daily crypto market update, 1–5 star ratings for specific tokens and an equity research report on firms operating in the space, according to a press release. Christopher Daniels, EF Hutton’s chief executive, indicated that the move is aimed at educating…

You Can Now Pay With Bitcoin Via Lightning at CoinGate’s 4,000 Merchants

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CoinGate, a bitcoin payment processor, has launched bitcoin Lightning Network payments on its platform, bringing the option to accept Lightning payments to its 4,000 clients. The Lithuanian company enables merchants to accept bitcoin payments for their products or services. Merchants can keep the funds in bitcoin or CoinGate will convert those funds to Euros or U.S. dollars for customers who want to avoid dealing with bitcoin’s volatility. In a blog post announcing the launch of Lightning on its mainnet, CoinGate explained that shoppers can pay their affiliated merchants with Bitcoin’s…

Analysts: A Bitcoin Breakout Could Be Happening In November

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Throughout summer, Bitcoin price has been swinging between $6,000 and $8,000. However, according to some price analysts, Bitcoin price may well see a breakout come November. Forbes’ Billy Bambrough opines that market experts expect the breakout as early as November this year. However, he recognizes that a section of these experts are pegging their hopes on September, with the end month favored. The Prospects This breakout is expected because of two primary reasons: First, SEC is deliberating on whether to approve the Bitcoin ETF application presented by SolidX/VanEck. The decision…

Finnish Bitcoin Scam Victim Withdraws Case against Thai Fraudsters

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Aarni Otava Saarimaa, a 22-year old Finnish national who fell victim to a bitcoin scam scheme organized by Thai fraudsters in June last year, has reached a “satisfactory” agreement with the criminals and has requested a withdrawal of the case, as first reported by Bangkok Post on September 4, 2018. Complaint Withdrawn According to the report, Saarimaa, a Finnish investor who lost 797 million baht (roughly $24 million) to a criminal gang led by local soap opera actor Prinya “Boom” Jaravijit, has decided to withdraw his complaint from the police…

Twitter Is Considering the ‘Untapped Potential’ of Blockchain

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Twitter CEO Jack Dorsey testified before a Congressional committee Wednesday, September 5 that the company is exploring blockchain technology for potential application. Dorsey answered questions during a hearing on Twitter transparency and accountability held in the U.S. House Committee on Energy and Commerce. Doris Matsui, a representative from California, asked Twitter’s CEO about what potential applications blockchain technology might have for the company. Dorsey answered that blockchain could be used to fight misinformation and scams, stating: “Blockchain is one that I think has a lot of untapped potential, specifically around…

BTC/USD Rejects Bulls, Once Again

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Bitcoin price on Thursday extended its prevailing bearish correction sentiment and dropped as much as 6.5 percent from the yesterday’s low near $6,710. The BTC/USD in the very first hours of today’s session formed lower highs and lower lows towards 6731-fiat and 6303-fiat. It very much set the sentimental course for the rest of the Asian and European session. Both the trading sessions lacked strong bullish corrections, putting BTC/USD on a slow path to the downside. At the early European hours, the pair retested 6306-fiat as the range bottom, only…

Coinbase Expands UK Offering With Four GBP Altcoin Pairs

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U.S. cryptocurrency exchange Coinbase will open trading of four more cryptocurrencies for U.K. pound sterling (GBP) Friday, a blog post confirmed Wednesday, September 5. Following a deal with UK bank Barclays to open access to the country’s Faster Payments network in March, residents will now be able to trade altcoins Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Bitcoin Cash (BCH) for GBP, in addition to the existing Bitcoin (BTC). “With support for UK domestic bank transfers in GBP via the Faster Payments Scheme, it is now significantly easier, faster…