Day: May 21, 2019

Bibox Europe Official Launch on Track, Raises Equity Investment from a Global Top-10 Bank

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Bibox, the AI-enhanced encrypted digital asset exchange has announced plans to cater to European customers with the upcoming launch of Bibox Europe. Equipped with the necessary license in Europe, the company will be opening doors to the public as a fully regulated Blockchain Financial Service Institution. The company’s plan to launch a fully compliant fiat exchange has been well received by traditional institutions. It is reported that one of the largest global banks has invested in this round of fundraising of Bibox EU. According to Bibox, the platform’s European arm…

Hedge Fund Execs Predict Bitcoin Price will Close 2019 at $9,659

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The bitcoin price has surged a little above 114 percent in 2019 so far. But, according to a new poll, the cryptocurrency has extra fuel to sustain its upside action further. US comparison website Finder surveyed ten FinTech capitalists, including executives from hedge funds Arca and BitBull Capital, on Friday. The portal found that a majority of them expected that bitcoin would pullback from its recently tested $8,000-level. However, they forecasted a strong rebound in June, which would push the cryptocurrency’s rate to as high as $9,659 by the end…

Japanese Parliament Moves New Crypto Regulations to the Upper House

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The Japanese House of Representatives has passed new crypto regulation in the upper house of the National Diet, local news agency Nikkei reports on May 21. The lower house has reportedly moved crypto-related amendments to the existing financial law to the House of Councillors at a recent plenary session.                  According to Nikkei, the amendments to two of Japan’s financial laws — the Financial Instruments and Exchange Act and Payment Services Act — intend to strengthen local regulations on cryptocurrency trading process. The amendments reportedly extend the regulation by adding…

Co-Founder of China’s Uber Slams Crypto EOS

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By CCN: Weixing Chen, the founder and CEO of Kuaidi Dache, a Chinese taxi-hailing application, has expressed his concerns about crypto assets like EOS in a statement published on Weibo that prioritize scalability. A rough translation of his statement read: EOS is a good example. I have always said that there is no problem in trying [new] technology. The problem is the fraudulent propaganda such as ‘Million TPS” and ‘Next Generation Operating System’. CnLedger, a trusted crypto news source based in China, confirmed to CCN that the Weibo account is,…

SEC Shuts Down Ponzi Scheme Which Duped 300 Into ‘Diamond-Backed’ Cryptocurrency

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The United States Securities and Exchange Commission (SEC) has halted a confirmed cryptocurrency Ponzi scheme after it took funds worth $30 million, the regulator confirmed in a press release on May 21. The principal behind Argyle Coin, Jose Angel Aman, is now subject to legal action for running a Ponzi scheme using funds he gained from investors in his alleged diamond resale outfit. Aman had previously drawn suspicion over similar diamond-related companies, each promising investors huge returns through the reselling of wholesale diamonds. Argyle Coin, it was claimed, had full…

SEC Postpones VanEck Bitcoin ETF, Yet Again. Should We Expect an Approval in 2019?

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Yesterday, the United States Securities and Exchange Commission (SEC) postponed its decision on the VanEck/SolidX bitcoin (BTC) exchange-traded fund (ETF) proposal, signaling that the regulator is still not ready to see crypto-based funds being traded on regulated exchanges. However, while the general sentiment is that the agency will continue to push back, there’s a slight chance that a crypto ETF might come as soon as later this year.    What’s an ETF and how can it affect the crypto market?    In short, an ETF is a type of an…

Analyst: Bitcoin (BTC) Is Tracking USD/Yuan Exchange Rate

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A contributing author and Asian markets analyst on Forbes has pointed out that the non-correlation of cryptocurrency–that digital assets fluctuate to their own market devices–does not tell the full story. Instead, William Pesek argues that prices for Bitcoin are moving with the price of the Chinese Yuan versus the U.S. dollar, as opposed to the dominant assumption being placed on USD movements alone. According to Pesek, “There’s an easily trackable correlation between bitcoin and the dollar/yuan exchange rate…No, bitcoin doesn’t track the dollar’s zigs and zags–except when we’re talking about…

U.S.: Decision on VanEck Bitcoin ETF Delayed Again

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The wait for a Bitcoin exchange-traded fund (ETF) continues to drag as the U.S. Securities and Exchange Commission (SEC) on May 20, 2019, again delayed deciding on a Bitcoin ETF proposal by the VanEck SolidX Bitcoin Trust. SEC Taking its Time In its official notice, the SEC wrote that it is in “instituting proceedings” to determine whether a Bitcoin ETF should be approved or disapproved. By instituting proceedings, the U.S. financial watchdog essentially means that it is still open to receive more input from outside parties. Also, it does not…

Cryptocurrency News Roundup May 21

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Craig Wright Files For Bitcoin Patent Purported Bitcoin creator Dr. Craig Wright has been granted U.S. copyright registrations for the original Bitcoin white paper. The registrations recognize Wright as the author of both the white paper and the code under the famous pseudonym Satoshi Nakamoto. Wright is on the Bitcoin SV side of the debate, which is a version of Bitcoin that was forked off of the Bitcoin Cash (BCH-USD) blockchain. The difference between the two is that SV scales up to 100mb per block, whereas Bitcoin Cash ABC has…

Australian Securities and Investments Commission Warns Public Against New Crypto Scam

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The Australian Securities and Investments Commission (ASIC) has issued another warning on May 21 against an alleged crypto-related scam project. According to the report, the Australian financial regulator has today published a warning against an alleged scam entity dealing under two names, Dartalon Ltd and GFC Investments. The ASIC has red flagged the entity, reportedly claiming that the business “has made unsolicited calls or sent emails about investing, financial advice, credit or loans,” while it does not possess either an Australian Financial Services license or an Australian Credit license from…