Month: July 2019

Korea’s ‘Big 4’ Bitcoin Exchanges Facing Strict AML Scrutiny from Banks

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The latest news emerging from South Korea indicates that Bitcoin exchanges are facing a surprisingly increased level of scrutiny of commercial banks amid the renewal of banking services. The revelation comes as the intergovernmental Financial Action Task Force (FATF) continues to urge countries to enact stricter regulatory controls over the crypto industry. This according to a report from The BChain, July 29, 2019. Banks Apply AML Pressure The ‘big four’ Bitcoin exchanges in South Korea — Upbit, Korbit, Bithumb, and Coinone, aren’t finding the renewal of banking services process to…

Golden Cross Provides Glimmer of Hope for Bitcoin Price Revival

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View Bitcoin’s three-day chart is reporting a golden cross, a long-term bull market indicator, for the first time since February 2016. A similar crossover seen six months ahead of the August 2016 mining reward halving paved way for a mega bull run. History may repeat itself with mining reward halving due in less than 12 months. BTC may rise back to $10,000 in the next 24 hours or so with short duration charts signaling seller exhaustion. A UTC close above $11,120 is needed to revive the bullish view. On the…

Capital One Hack Exposes 100 Million Accounts as Bitcoin Unaffected

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The massive-scale hack of major United States credit card issuer Capital One has left the personal data of over 100 million individuals exposed. As CNN reported on July 30, confidential data for around 106 million Capital One customers’ accounts and credit card applications was stolen by an alleged hacker, Paige Thompson, 33, in March of this year. Capital One: a centralized trove of KYC data Thompson, a Seattle resident, was arrested by the FBI on June 29 and is accused by the US Department of Justice of having gained unauthorized…

BitFlyer launches ‘Simple’ Bitcoin Buying and Selling Service for EU Market

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The European arm of Japan-based cryptocurrency exchange bitFlyer has launched a bitcoin buying and selling service aimed to be easier to use than spot trading exchanges. BitFlyer Europe announced the news on Tuesday, saying the new trading platform targets people wanting “a simple way to buy and sell bitcoin, from total beginners to experienced traders.” Until now, the firm offered only a pro-trader service, dubbed Lightning, as its euro-bitcoin marketplace. Available via the bitFlyer Europe website, the “bitFlyer Buy/Sell” service allows users to exchange bitcoin for euros, with a maximum…

US Capital Global Unveils Hedge Fund with Investments in Coinbase, Bakkt

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The US Capital Global Securities (USCGS) has joined other institutional cryptocurrency and blockchain investors by adding holdings in Nomics, Bakkt, Coinbase, and Tagomi in its investment portfolio. The crypto industry is attracting more institutional investors despite the volatility and bearish trends attacking the market quite often. The latest institutional whale to join the nascent industry is the US Capital Global Securities (USCGS), which is a FINRA-regulated associate of private investment bank US Capital Global. This firm stated that it will add a tokenized venture fund in its portfolio. The new…

Bitcoin Lightning Network Works on Liquid Sidechain, Blockstream Confirms

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Bitcoin (BTC) users can now take advantage of the Lightning Network while sending coins on Blockstream’s Liquid sidechain.  Bitcoin’s Lightning Network designed to work across multiple chains Following the debut of support for stablecoin Tether (USDT) on Liquid, Blockstream CEO Adam Back confirmed on Twitter that the technology can also support Lightning payments. Using a combination of Lightning and Liquid allows users to benefit from the speed and low cost of off-chain transfers, along with the specific advantages of Liquid itself. “It’s not so widely known but Lightning protocol is…

Ripple CEO Urges Congress to Treat Crypto with More Regulatory Clarity

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Brad Garlinghouse, CEO of Ripple and Chris Larsen, Chairman & co-founder of Ripple (XRP)trade took the time to pen a heartwarming open letter, urging the U.S. Congress to try separating the goats from the sheep, not casting all of them away. In the open letter, they both implored the respectable Congressmen and Congresswomen to reconsider their anti-crypto stand. Sure, no one is disputing the fact that virtual currency can be manipulated and employed in illegal activities; however, one can’t also deny the fact that there are responsible businessmen and women…

Crypto Exchange and Custodian Smart Valor Goes Live in Switzerland

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Smart Valor has secured a fresh $3.25 million round of investment, led by Venture Incubator, alongside Tally Capital and other Asian and U.S. investors. With the news, the Zug-based startup is also announcing a new exchange operating from both Switzerland and Liechtenstein that will provide custody, trading and brokerage services. Initially, the exchange will offer BTC and ETH, each of which can trade against the fiat currencies CHF, EUR, GBP and USD. Smart Valor CEO Olga Feldmeier told CoinDesk in an email: “Today, Switzerland is the largest global wealth destination,…

Small Nations Enthusiastic About Crypto

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A number of new players in the industry are creating an alternative option by drafting specific rules and regulations for cryptocurrency. Malta, Bahrain, and Gibraltar have been among the first to do such, now Belarus and Singapore join the club. When in March 2017 Belarusian President Alexander Lukashenko met entrepreneur Viktor Prokopenya, their meeting lasted for more than three hours and it was focused mainly on proposing regulations to boost the country’s tech sector. Prokopenya at that times worked with IT firms and lawyers to draft guidelines to cash in…

Bitcoin Price (BTC/USD) Holding Key Support But Lacks Momentum

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Bitcoin price is currently consolidating above the key $9,300 support area against the US Dollar. The price is facing a few key resistances near the $9,500, $9,600 and $9,650 levels. There is a connecting bearish trend line forming with resistance near $9,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price start a decent recovery as long as there is no downside break below the $9,300 support. After bearish moves, bitcoin price started consolidating above $9,300 against the US Dollar. However, BTC must gain momentum…