Day: July 10, 2019

US Elections Regulator Gives Tentative Go-Ahead to Campaign Token

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The Federal Election Commission (FEC) has tentatively approved an ERC-20 token issued by Omar Reyes to use in an incentives program for his congressional campaign. The FEC reviewed the coin project in a draft advisory opinion on July 5. According to the draft letter, the FEC believes Reyes is within his rights to issue his Ethereum-based “Omar2020Token” (OMR) as part of his campaign to join the United States House of Representatives from the 22nd Congressional District of Florida.  The FEC argues that because the tokens are essentially souvenirs, with no…

Crypto Markets See Sharp Drop, Gold Is on the Rise

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Wednesday, July 10 — Cryptocurrency markets have registered a sharp drop after Bitcoin hit the $13,000 price mark in the beginning of the day, according to data from Coin360. Market visualization courtesy of Coin360 Bitcoin (BTC) is currently trading at around $12,092, having lost over 3.6% on the day, although in early trading today the BTC/USD pair reclaimed almost $1,000 in 24 hours. In terms of its weekly performance, Bicoin is up by 4.28%. Bitcoin 7-day price chart. Source: Coin360 The second-largest cryptocurrency by market capitalization Ether (ETH) has come…

Vanuatu Extradicts Six Chinese Citizens Allegedly Involved in Crypto Scheme

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Vanuatu, a Pacific Island country, has extradited six Chinese citizens to the mainland, according to a report by Odaily Planet Daily on July 10.  The suspects were reportedly arrested in the course of an ongoing investigation of the PlusToken cryptocurrency platform which, according to the Yancheng Public Security Bureau, is a pyramid scheme.  As per the report, the Yancheng police in China have confirmed that they cooperated with local Vanuatu police to extradite six suspects associated with the PlusToken fund. The individuals were reportedly arrested by Vanuatu authorities at Chinese…

Crypto Payment Platforms Offer Working Examples — Competition Heats Up

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Once seen by the mainstream zeitgeist as a fringe technology destined to languish on the outskirts of society, cryptocurrency today is alluring many leaders of the fintech sector by offering companies the prospect of being at the forefront of the largest financial revolution of the past century. With mainstream society increasingly accepting Bitcoin (BTC) as a means of payment, financial firms are increasingly seeking to offer a frictionless and convenient means for consumers to make payments using crypto.   Square introduces BTC deposits On June 26, San Francisco-based mobile payments provider…

Bitcoin Network Hash Rate Clocks Fastest 30-day Growth

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Data from Binance Research shows that the Bitcoin network has seen its highest hash rate growth over a 30-day period. This revelation reiterates the massively improving conditions within the core network fundamentals that form part of the growing bull case for the top-ranked cryptocurrency. Several commentators say bitcoin will finish 2019 at a new all-time high (ATH) spot price. Bitcoin Hash Rate at ATH Tweeting on Tuesday (July 9, 2019), Binance Research revealed that the Bitcoin network has recorded its fastest monthly hash rate growth. According to the tweet, the…

Turkey Puts Central Bank Digital Currency on New Economic Roadmap

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The government of Turkey has included a central bank-issued digital currency in its 2019–2023 economic roadmap published on July 9. As per the 11th Development Plan from the Presidency of the Turkish Republic, “Blockchain-based digital central bank money will be implemented.” In addition to a central bank digital currency, the development plan lists blockchain adoption in the operations of transportation and customs. It further notes that public services and administration can be improved by emerging technologies such as big data, artificial intelligence and blockchain. Turkish Vice President Fuat Oktay presented…

Russian Smelting Giant Nornickel to Launch Digital Trading Platform by End of 2019

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Russian mining and smelting giant Nornickel is planning to roll out a digital platform for metals trading by the end of 2019, local news outlet TASS reported on July 9. The vice-president of Nornickel, Andrey Bugrov told TASS that “the preparation process was quite lengthy, but nevertheless, we plan to bring this product [digitization of metal trading] to the market by the end of 2019 and begin trading our tokens.” Bugrov also said that the token trading program could be worth nearly $1 billion, but that is rather a target…

New Model: Bitcoin (BTC) to Reach Peak of $80,000 in Next Cycle

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Long-Term Outlook for Bitcoin With Bitcoin (BTC) rapidly rallying by over 300% from 2018’s brutal bottom of $3,150, analysts have been wondering where this asset is going to head in the long term. You see, while BTC is at $13,000 — which many say is already expensive enough for a digital asset that isn’t tangible — many proponents of cryptocurrency and technological idealists have come to the conclusion that this isn’t where Bitcoin’s story ends. On the contrary, actually. This may be Bitcoin’s true story begins. Sound dramatic, I know,…

Price Analysis 10/07: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, TRX, ADA

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Bitcoin is facing profit booking at higher levels. Is this a warning sign of an impending correction? Let’s study the charts. 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. CEO of BitMEX Arthur Hayes believes that Facebook’s Libra could make central and commercial banks irrelevant. It will be interesting to note whether this…

Fed Chair Says Facebook Needs to Satisfy Regulatory Concerns Regarding Libra

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Federal Reserve Chair Jerome Powell said there needs to be broad satisfaction with the way Facebook is handling regulatory concerns regarding its forthcoming stablecoin Libra. Powell gave his comments in a hearing before the House Financial Services Committee on July 10. Rep. Steve Stivers asked Powell during the meeting, “if Facebook can’t sufficiently answer your questions about anti-money laundering, Know Your Customer, what would your message be to the banks that provide banking to Facebook, and what would your advice to Facebook be?” Powell replied: “ … I just think…