Day: July 22, 2019

Ripple (XRP) Expansion, Up 4% After Bitso’s Licensing and BoA Citation

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Ripple (XRP) adds 4.3 percent The Mexican exchange, Bitso, has a license from Gibraltar Financial Services Commission (GFSC) Bitso is the first exchange from Latin America to comply with the Gibraltar Financial Services Commission (GFSC) regulations. While at it, the citation of Ripple in a patent by Bank of America is bullish for XRP. At the time of writing, it is up 4.3 percent from last week’s close. Ripple Price Analysis Fundamentals The debate on whether or not Bitcoin is a tool for money laundering and funding terrorism is dominating…

Circle Moves Exchange Operations Offshore With New Bermuda Office

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Due to mounting regulatory pressures in the United States, the crypto company Circle is moving the majority of its exchange operations offshore. Circle announced Monday it received a full Digital Assets Business Act license in Bermuda for its crypto exchange Poloniex. Circle CEO Jeremy Allaire told CoinDesk that 70 percent of Poloniex users hail from beyond the U.S. and the new Bermuda-based entity will handle those accounts from now on. In May, the company geofenced some assets on Poloniex from U.S. customers. “Europe and Asia are both pretty significant markets…

Circle Moves Non-US Poloniex Customers to New Bermuda Entity

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Due to mounting regulatory pressures in the United States, the crypto company Circle is moving the majority of its exchange operations offshore. Circle announced Monday it received a full Digital Assets Business Act license in Bermuda for its crypto exchange Poloniex. Circle CEO Jeremy Allaire told CoinDesk that 70 percent of Poloniex users hail from beyond the U.S. and the new Bermuda-based entity will handle those accounts from now on. In May, the company geofenced some assets on Poloniex from U.S. customers. “Europe and Asia are both pretty significant markets…

Gov’ts Should Be Neutral on FB’s Libra

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Potential benefits of Facebook’s Libra should be made possible despite the existing regulatory uncertainty and associated risks, Germany’s central bank said. In a monthly bulletin called “Crypto tokens in payment transactions and in securities settlement” released on July 22, the Bundesbank evaluated potential advantages and shortcomings of central bank digital currencies (CBDCs), as well as stablecoins such as Facebook’s widely-discussed crypto project Libra. Regulation of Libra should be as technology-neutral as possible, Bundesbank says In the document, Germany’s central bank stated that global innovative projects such as Libra should not…

Iran to set Electricity Tariffs for Bitcoin Mining 

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Iran’s Economic Commission has agreed to set electricity tariffs for bitcoin mining activities based on the prices used for electricity exports. The new tariff scheme is expected to come into effect as soon as it gets approved by the Iranian Cabinet, according to a Financial Tribune report, July 21, 2019. Iran’s Crypto Miners to pay More  These are not the best of times for bitcoin and altcoin miners in Iran, as the government is now ready to significantly increase electricity prices for the business. Per sources close to the matter,…

Bitcoin Could See $18,000 Should Breakout Occur, Pattern Suggests

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Bitcoin Breakout Could Send it to $13,000… or $18,000 Again, Bitcoin (BTC) volatility has dropped through the floor, with the cryptocurrency finding itself trading within $10,500 to $11,000 for over a day now. While some suggest that the lack of positive price action is a sign of an impending secondary drop, during which some analysts expect Bitcoin to fall under $9,000 and maybe even $8,000, BTC may just be preparing to break out. Per a chart from Nunya Bizniz, Bitcoin’s four-hour candles are currently trading in a bull flag, which…

Palestinian Authority Considering Crypto to Replace Israeli Shekel

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Palestinian Prime Minister Mohammad Shtayyeh reiterated that his government is considering using cryptocurrency as an alternative to the Israeli shekel fiat currency, English-language local media Al-Monitor reports on July 22. Shtayyeh said at the opening of the Palestine Center for Computer Emergency Response in Ramallah on July 9 that he’ll consider every possibility to enhance the freedom of Palestinian economy that Israel won’t be able to block.  During his first appearance on Palestine TV, after first taking office in April, he reportedly said: “The Palestinian economy has about 25 billion…

Could Bitcoin’s Dominance Help BTC Based Projects Pull Ahead of the Competition?

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If the 2017/2018 cryptocurrency boom was altcoin season, then 2019 undoubtedly belongs to Bitcoin (BTC). The world’s biggest crypto is currently enjoying its highest level of market dominance in over two years. On the other hand, Ethereum has been progressively losing market share over 2019. The numbers demonstrate that BTC is still the most trusted of cryptocurrencies, which is underscored by the record levels of institutional investment currently flowing in. While this may not be great news for Ethereum and other alts, it’s excellent news for the projects involved in…

Indian Gov’t Panel Recommends a Blanket Ban on Cryptocurrencies

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An Indian government panel recommended a ban on cryptocurrencies, Reuters reports on July 22. Is India finally about to ban cryptocurrencies? The panel recommended to the government today to ban cryptocurrencies and impose sanctions for any dealings involving crypto assets. Reuters adds that, according to a government statement, the report and draft legislation released by the panel behind the recommendation will be examined by regulators and the government before taking a final decision. A local ban is not surprising Earlier this month, India’s Minister of State for Finance Anurag Thakur…

Football Club AS Roma to Launch Crypto Fan Token with Voting Privileges

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Distinguished Italian football club AS Roma announced that it will join Socios, a blockchain-based voting platform. AS Roma has partnered up with sports and entertainment blockchain firm Chiliz (which powers Socios) for this crypto initiative. Chiliz broke the news in an official announcement published on July 19. In the announcement, Chiliz states that AS Roma will join its sports platform Socios and launch an AS Roma fan token. Through the use of this crypto tokens, fans will be able to vote in club-delegated decisions. Blockchain has a diverse set of…