Day: June 24, 2019

AICPA Proposes New Standards That Would Apply to Blockchain-Based Audit Data

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The American Institute of Certified Public Accountants (AICPA) has proposed a new set of standards for audit evidence including accommodation for blockchain-based data, according to a report by trade publication Accounting Today on June 24. The new proposal, the so-dubbed Proposed Statement on Auditing Standards (SAS), Audit Evidence, will purportedly set guidelines on how preparers and auditors should evaluate audit evidence that is based on new tech such as blockchain and data analytics.  The new standards are apparently a source-indifferent, multidimensional set of metrics for evaluating audit data. The aim…

Crypto Analyst Says Bitcoin Price Could Hit $100,000 During Next Bull Run

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ThinkMarkets chief market analyst Naeem Aslam predicts that bitcoin (BTC) will hit somewhere between $60,000 and  $100,000 during its next bull run, according to a Fox Business interview on June 24. Aslam had previously predicted on June 17 that BTC would hit $10,000 in “a couple of weeks,” citing institutional involvement as a major driver. Bitcoin successfully reached the five figure mark on June 22, marking a record high that has not been seen in over one year. According to Aslam, the major price points to look out for now…

President of Uganda to Lead Blockchain Conference in Kampala in July

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The President of Uganda, Yoweri Museveni, will officiate the 2019 Africa Blockchain Conference, according to a report by Kabuubi Media Africa on June 24 According to the report, The 2019 Africa Blockchain Conference — not to be confused with  The Blockchain Africa Conference 2019 which occurred in April — will be held from July 3 to July 4, and the theme is ’Africa 4.0:  Preparing Africa for the 4th Industrial Revolution.’ The conference topics will reportedly include fintech, payment systems, and the future of education. President Museveni reportedly supported the…

Bitfinex CTO Hints at Maximum Leverage for Upcoming Derivatives Trading

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Cryptocurrency exchange Bitfinex CTO Paolo Ardoino hinted at the maximum leverage for the exchange’s upcoming derivatives trading, in a tweet published on June 24. In the tweet, Ardoino purportedly indicated the maximum leverage for Bitfinex’ forthcoming derivatives trading, which resulted in a heated discussion between community members. In response to the answer whether it will be an isolated leverage, Ardoino said that it will be isolated at the beginning, adding that it is better for risk management. Ardoino also revealed that instruments with high leverage will be used separately from…

98% of BSV Transactions Used for Writing Weather Data on Blockchain: Report

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More than 98% of transactions on the Bitcoin SV blockchain over the past 30 days have been used for writing data from a weather app, Twitter personality Painted Frog noted today, June 24. Citing data from bitcoin cash (BCH) blockchain visualiser Trends.cash, Painted Frog noted that the vast majority of BSV transactions have been implemented so far for sharing weather data through bitcoin sv-powered app WeatherSV.   Performed actions on BSV blockchain over the past 30 days. Source: Trends.cash According to the website, other BSV implementations over the past 30…

Price Analysis 24/06: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, TRX, ADA

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Analysts are projecting new highs in 2019. What do the charts suggest? The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. The recent rally in bitcoin has turned around sentiment completely. Analysts are projecting a rally to new lifetime highs within the end of this year. Bitcoin Knowledge podcast host Trace Mayer has a…

US House of Representatives to Hold Hearing on Facebook’s Libra in July

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The United States House Financial Services Committee will be holding a hearing on the social media giant Facebook’s proposed virtual currency Libra on July 17, according to a press release on June 24. The announcement comes by way of committee chairwoman Rep. Maxine Waters, who previously had called on Facebook to cease work on Libra until Congress and regulators had a chance to scrutinize the proposal: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress…

Circle and Coinbase’s Centre Seeks to Form Consortium to Promote, Issue USDC

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Stablecoins have become rather frequently discussed in the news and social media over the past few weeks, especially with the news of the release of the Facebook-backed Libra coin. The current wave of stablecoin issuance could be attributed to the lack of liquidity in the cryptocurrency world. But even though the crypto market is now slowly recovering from a long bear trend, the ecosystem of stablecoins continues to expand even further.  One of the most notable events in the stablecoin space was a recent announcement by Circle and Coinbase. After…

Criminals Rarely Use Crypto to Withdraw Stolen Funds

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In Russia, fraudsters rarely use cryptocurrency to withdraw stolen money, according to the country’s central bank. The news was reported by local news outlet TASS on June 21. The first deputy director of the Information Security Department of the Bank of Russia, Artem Sychev, told TASS that the central bank monitors methods of withdrawing funds and develops additional protective measures. Per the bank, criminals prefer to cash stolen money out rather than withdraw them with digital currency. Sychev said: “In the Russian Federation, this [withdrawing of stolen funds with crypto]…

Korean Crypto Exchanges Face Backlash, Could it Stunt Bitcoin’s Run?

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According to Business Korea, hundreds of minor crypto exchanges in South Korea could run smack into heightened scrutiny for failing to abide by proposed enhanced know-your-customer (KYC) regulations, which would require exchanges to only provide services to users with “real-name accounts” issued by local financial institutions. Earlier this month, the Financial Action Task Force, an intergovernmental organization under the G7, proposed guidelines that encourage all crypto exchanges to share customer data. Although industry executives and experts have indicated that the ruling of the FATF is highly impractical and may be…