Month: July 2019

US Fed Rate Cuts Are Helping Bitcoin

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Fundstrat Global Advisors co-founder Tom Lee believes that recent interest rate cuts in the United States by the Federal Reserve are a boon for Bitcoin (BTC).   Lee remarked on how the rate cuts positively impact Bitcoin investment in an interview with Fox Business on July 31, saying: “Bitcoin’s becoming increasingly a macrohedge for investors against things that could go wrong. Rate cuts are adding liquidity. Liquidity is pushing money into all these risk assets and also hedges, which is helping Bitcoin.” Lee delivered a couple more general remarks about Bitcoin,…

US Security Token Platform Adds New Policies to Comply with FinCEN

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Security tokens platform TokenSoft has officially added Know Your Business (KYB) services following a successful alpha test in 2018. The San Francisco-based token issuance platform said in a press release on July 31 that the KYB feature was added in order to enhance customer due diligence (CDD) requirements in compliance with an amendment to the Bank Secrecy Act. Per the press release, the KYB test launched on the eve of the effective date of the United States Financial Crimes Enforcement Network’s (FinCEN) CDD final rule. The CDD rule amended the…

Judge Dismisses Libel Suit Against Roger Ver Over Lack of Jurisdiction

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A Justice of the High Court of England and Wales has dismissed a libel lawsuit against Bitcoin Cash (BCH) proponent and Bitcoin.com CEO Roger Ver. Justice Matthew Nicklin of the Queen’s Bench Division threw out the case earlier this week, according to a decision published on July 31. Back in May, Craig Wright — an Australian computer scientist who claims he is Satoshi Nakamoto, the creator of Bitcoin — served Ver with a libel suit in London. Wright accused Ver of calling him a fraud and a liar, among other…

Bittrex Launches Crypto Platform for Middle East Following New Partnership

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Bittrex cryptocurrency exchange is partnering with Bahrain-based crypto exchange and custodian provider Rain Management WLL to launch a digital asset trading platform for customers in the Middle East and North Africa (MENA). The new platform will purportedly combine Rain’s staff and expertise in the MENA region with Bittrex’s technology and security infrastructure, according to an announcement on July 31.  The platform will offer all the tokens that are currently available on Bittrex and Bittrex International. It will also offer four Bitcoin (BTC) trading pairs with local fiat currencies: the Bahraini…

US Senate Crypto Hearing Key Takeaways: Blockchain Is ‘Inevitable’

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On July 30, the United States Committee on Banking, Housing and Urban Affairs hosted a hearing on cryptocurrencies in a regulatory context. Lawmakers are showing renewed interest in digital currencies against the backdrop of Facebook’s crypto odyssey: This week’s testimony followed two Libra-focused hearings, which were held in Congress earlier in the month. Indeed, while the recent session’s scope was meant to be broader, Libra remained one of the key topics. The main consensus was that the influx of cryptocurrencies and blockchain is inevitable and that the U.S. would prefer…

What the Next 4 Years of Ethereum Look Like

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Yesterday, ethereum celebrated its fourth birthday. Four years ago, on July 30, 2015, the world’s first general-purpose blockchain platform went live. Called ethereum, the platform was the first of its kind to feature a Turing-complete virtual machine and native programming language able to deploy code of any algorithmic complexity. “Before ethereum, developers had to design and write extremely complex software,” Mariano Conti, the MakerDAO Foundation’s head of smart contracts, told CoinDesk. “Ethereum introduced a generic programmable layer which abstracted this whole process and enabled developers to build decentralized applications by only…

Dubai to Launch KYC-Focused Blockchain Consortium for Businesses in 2020

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A new partnership between the Dubai International Financial Centre (DIFC), Mashreq Bank, and fintech firm Norbloc aims to launch a blockchain-based Know Your Customer (KYC) data-sharing consortium in 2020. The official UAE news agency, Emirates News Agency, reported on the new development on July 31. The DIFC, Mashreq Bank and Norbloc — a Stockholm-based blockchain project focused on KYC and a member of the Hyperledger consortium — are planning to jointly launch the consortium in the first quarter of 2020 to support businesses in Dubai. As part of the project,…

Top Predicting Signal Hits Highest Peak, Is a 50% Drop Ahead?

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Bitcoin price is at a critical junction, with either a major bull run ahead or a deeper correction that could mean the bear market hasn’t yet ended. A powerful indicator called the NVT ratio – designed by one of the crypto community’s best and brightest – has been used to time the tops and bottoms of Bitcoin bubbles, and is currently showing that Bitcoin has fallen from the highest levels it’s ever reached. The last three times Bitcoin reached such high NVT levels, it feel on average 50%. Could a…

Price Analysis 31/07: BTC, ETH, XRP, LTC, BCH, BNB, EOS, BSV, XLM, ADA

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Will volatility in cryptocurrencies pick up after the Fed’s announcement today? What are the critical levels to watch out for? 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 United States Federal Reserve cut rates today for the first time since 2008, which some believe is unwarranted as the economy is on…

LedgerX Beating Bakkt in Launching ‘Physical’ Bitcoin Futures in the U.S.

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From now on, every U.S. resident with a government-issued I.D. can trade futures contracts for real Bitcoin. According to the recently revealed information, LedgerX has officially launched the first physically-settled Bitcoin futures contracts in the U.S., right before the Intercontinental Exchange’s Bakkt and TD Ameritrade-backed ErisX did the same. However, it’s not just that. According to CoinDesk, LedgerX is offering the new product to both institutional and retail investors that permits anyone who can go by know-your-customer (KYC) procedures to trade these contracts. By now traders could be only institutional…