Day: December 26, 2018

British Regulators Ruminate on Crypto Rules While Standing Firm on Crypto Taxation

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A significant crypto market slump has brought concern and alarm, but also some unexpected side benefits. One such benefit comes from how financial regulators in the United Kingdom now appear sufficiently relaxed about crypto and its growth that they can take their time to carefully consider fair regulation. Without the pressures of a rapidly climbing crypto market, statements from officials have suggested that they will now avoid hastily implementing legislation — and as a result, the cryptocurrency industry in Britain will ultimately benefit from rules that protect customers and innovation alike.…

2019 Stanford Blockchain Conference Spotlights Blockchain Security and ‘Risk’

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Security and “systemic risk” will form the focus of the third Stanford Blockchain Conference at Stanford University on Jan. 30 – Feb. 1, organizers have revealed. Continuing the institution’s ever increasing interest in blockchain technology, the three-day event will see presentations and discussions on a variety of technical issues. Chaired by Stanford professors, among others, the event will see contributions from multiple cryptocurrency businesses, with input from names such as Blockstream, ConsenSys and Polychain Capital. Talks will come from representatives of industry businesses including Stellar-focused startup Interstellar and smart contracts…

BitMEX and Hong-Kong Listed Wine Firm Plan Joint Foray Into New Japanese Crypto Exchange

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Crypto exchange BitMEX and a fine French wine retailer are reportedly partnering to acquire a majority stake of licensed — but as yet inactive — Japanese crypto exchange BitOcean. Cointelegraph Japan reported on the potential partnership on Dec. 21. Madison Holdings Group, which is currently listed on the Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange, reportedly plans to acquire a 62.7 percent stake of BitOcean for 1.68 billion yen ($15.12 million) — paid to existing third-party stakeholders — in addition to a further $15 million in extra…

Bank of America Files Patent for Blockchain-enabled Cash Handlers

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Bank of America (BoA) has filed another blockchain patent, documents with the USPTO reveal. The American multinational investment bank stated that it would use blockchain, the underlying technology which powers the world’s leading cryptocurrency Bitcoin, to handle some portions of its cash handling devices. The patent, titled “Banking Systems Controlled by Data Bearing Records, mentioned blockchain around 58 times, indicating how the digital ledger technology would improve their traditional cash deposit and withdrawal protocol. A cash handling device, in general, assists banks in dispensing, counting and tracking their cash flow to…

Ethereum ‘Will Quickly Test $200’ When ICO Market Returns

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Initial coin offerings (ICO) will return within “18 months” and Ethereum (ETH) will “rebound aggressively,” BitMEX CEO Arthur Hayes told Cointelegraph Japan Dec. 26. BitMEX is a Hong Kong-based cryptocurrency trading platform that has become one of the largest trading platforms in the world by volume. Speaking in an exclusive interview, Hayes forecast a return to form for 2018’s “dead” ICO markets. “The use case for Ether is primarily ICOs. That market is dead right now,” he said, adding: “Once there are new issues, then Ether will rebound aggressively. When…

Crypto Industry Giants Bitmain and Huobi to Layoff Staff

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Cryptocurrency mining giant Bitmain and major crypto exchange Huobi have reportedly confirmed plans to lay off staff amid the 2018 price rout of the crypto markets. Hong Kong English-language newspaper South China Morning Post (SCMP) reported on the layoffs on Dec. 26. Beijing-based Bitmain Technology, which has dominated the mining hardware manufacturing horizon this year, is quoted by SCMP as saying in a statement that it is undergoing “some adjustment to our staff this year”  — a statement reportedly prompted by Chinese social media coverage of looming layoffs at the…

In Turkey, Even the Volatile Bitcoin Looks Pretty Good Compared to the Lira

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Trading volumes on Turkish cryptocurrency exchanges increased by 37 percent since October 2018, which shows that Bitcoin’s popularity isn’t affected by the recent drops in the country’s year-long inflation, Slate reported on December 10, 2018. Inflation Pushes People Towards Cryptocurrencies In a turn of events that surprised economists and analysts alike, Turkish inflation fell in November 2018 after hitting a peak of more than 25 percent the previous months, the Financial Times reported. Following the announcement of retaliatory tariffs by the U.S. against Turkish steel and aluminum imports, the lira…

Binance Boss Rounds Up a Year in Crypto, Looks Forward to 2019

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Bear market or not, Binance has been one of the crypto industry’s biggest shakers and movers in 2018. The exchange has undergone massive expansion both geographically and internally with a raft of new products and services. Chief Executive,  Changpeng “CZ” Zhao, has rounded up the year and posted a few thoughts for the coming one. Binance Buidling into 2019 It is remarkable to think that Binance is only 18 months old. In that short time it has become the world’s largest cryptocurrency exchange by trade volume. The charismatic leader of…

The crypto bears also took down mortgages and marriages

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2018 has seen the crypto bears rule over cryptocurrency prices as the price of Bitcoin hit its lowest since Dec 2017. The drastic fall of crypto prices even caused some crypto-affiliated firms to be dissolved. Additionally, as they pulled the crypto prices down to new lows, the crypto bears did not leave mortgages and marriages behind. According to Sky News: “Married men accessed equity through their family homes, and often – whenever because they felt they needed to act quickly to make the most money, or because they feared that…

Bitcoin Price Watch: BTC Basing For Next Bullish Wave Above $4K

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Key Points Bitcoin price corrected lower recently and traded below the $3,800 support against the US Dollar. There was a break above a short term declining channel with resistance at $3,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely basing for a fresh upward move above the $3,900 and $4,000 resistance levels. Bitcoin price found support near the $3,680 level against the US Dollar. BTC might soon start a fresh bullish wave above the $4,000 resistance. Bitcoin Price Analysis Yesterday, we saw…