Day: August 4, 2019

Why Is the US Not Yet a Leader in Crypto Regulation? — Experts Answer

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Regulatory frameworks for Bitcoin (BTC) and other cryptocurrencies have developed differently around the globe, ranging from outright bans to so-called “crypto-friendly” legislation. Despite being an economic leader, many within the crypto industry argue that the United States in particular has not yet gained a leading position among governments actively working to regulate this new technology.  We asked the U.S. Chamber of Commerce’s Julie Stitzel, the Commodity Future and Trading Commission’s (CFTC) Heath P. Tarbert, NYU Blockchain’s Timothy Paolini and other industry experts to comment on the current situation with regulation…

Bitcoin Traders Abandon Exchange Amid CFTC Probe – CCN Markets

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Bitcoin traders yanked a staggering $525 million off BitMEX in July amid rumors of a CFTC probe and competition from Binance. | Source: CNBC/YouTube (i), Shutterstock (ii). Image Edited by CCN. July wasn’t exactly a banner month for crypto investors, but it turns out it was even worse for one of the world’s largest bitcoin trading platforms: BitMEX. BitMEX Just Had Its Worst Month Ever by One Key Metric Data curated by TokenAnalyst reveals that BitMEX, a cryptocurrency exchange that offers up to 100x leverage, suffered nearly $525 million in…

Bitcoin Traders Abandon Exchange Amid CFTC Probe

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Bitcoin traders yanked a staggering $525 million off BitMEX in July amid rumors of a CFTC probe and competition from Binance. | Source: CNBC/YouTube (i), Shutterstock (ii). Image Edited by CCN. July wasn’t exactly a banner month for crypto investors, but it turns out it was even worse for one of the world’s largest bitcoin trading platforms: BitMEX. BitMEX Just Had Its Worst Month Ever by One Key Metric Data curated by TokenAnalyst reveals that BitMEX, a cryptocurrency exchange that offers up to 100x leverage, suffered nearly $525 million in…

Government Will Not Recognize Crypto-Related Trade

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The Iranian government has instituted a new law that does not accept crypto as legal tender or recognize domestic transactions carried out with cryptocurrencies. On Aug. 4, the Cabinet of Iran ratified and released a new bill saying that the government will not recognize any domestic trading activity involving cryptos, Iranian news agency PressTV reports today.  Per the report, the new bill says that the government and the banking system will not view digital coins as legal tender, and Iran’s central bank will not guarantee their value.  The new bill…

Facebook’s Libra Confession, US Urged to Lead Way on Crypto

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Top Stories This Week Facebook warns investors that the Libra stablecoin may never launch The Libra storyline is fast becoming a never-ending soap opera — and we might be reaching the season finale. Facebook used its latest quarterly report to warn investors that its controversial cryptocurrency may never launch at all. The admission at least shows that the social network is taking the concerns of regulators and policymakers to heart. Although the company still expects Libra to be released in 2020 (for now), it looks like Facebook is laying the…

Bangladesh to Use IT Fund to Bankroll Blockchain Education for Graduates

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The Bangladesh government will use money from its $208 million IT project fund to send graduates for blockchain training in Japan and India. Bangladesh authorities plan to send 100 new IT graduates abroad to boost expertise in the fields of distributed ledger technology, artificial intelligence, machine learning and cyber security, Bangladesh’s English-language newspaper The Daily Star reports Aug. 4. As a part of the initiative, the government will also send 200 graduates of computer science and software, electrical and electronic engineering to learn about future trends of information technology, the…

Bitcoin’s Annihilating Every One of Your Favorite Altcoins

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As Bitcoin dominance rises to its highest level in 28 months, the flagship cryptocurrency is annihilating the entire altcoin market. | Source: Shutterstock Bitcoin continues to crush its opposition as the leading cryptocurrency now enjoys a nearly 69% share of the entire crypto market cap. This is the highest level of “Bitcoin Dominance” since April 2017 and marks an extremely frustrating period for altcoin investors. Bitcoin Rises, Altcoins Stagnate Bitcoin has continued to increase its dominance over altcoins, hitting the highest level since 2017. | Source: coinmarketcap.com The Bitcoin price…

Bitcoin’s Annihilating Every One of Your Favorite Altcoins

boss

As Bitcoin dominance rises to its highest level in 28 months, the flagship cryptocurrency is annihilating the entire altcoin market. | Source: Shutterstock Bitcoin continues to crush its opposition as the leading cryptocurrency now enjoys a nearly 69% share of the entire crypto market cap. This is the highest level of “Bitcoin Dominance” since April 2017 and marks an extremely frustrating period for altcoin investors. Bitcoin Rises, Altcoins Stagnate Bitcoin has continued to increase its dominance over altcoins, hitting the highest level since 2017. | Source: coinmarketcap.com The Bitcoin price…

China’s Central Bank Prioritizes Development of Digital Currency

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China’s central bank, the People’s Bank of China (PBoC) announced that it accelerated the development of its cryptocurrency.  In an Aug. 2 statement, PBoC summarized the proceedings of a video conference, in which the bank conveyed the Party Central Committee and the State Council priorities on economic and financial initiatives ranging from monetary policy to support for small businesses. PBoC suggested that it should accelerate the research and development of its digital currency. Furthermore, the statement also indicates that much attention should be also given to other domestic and foreign…

Bitcoin Nears $11,000 Mark While Altcoins See Mixed Results

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Sunday, Aug. 4 — Bitcoin (BTC) has continued to gain momentum today, with its price nearing the $11,000 mark. The top 20 cryptos by market capitalization are seeing mixed results on the day, with most gains and losses around or under 2%. Market visualization from Coin360 Bitcoin has seen a major bullish move this week, up 15% from around $9,500 to almost $11,000 at press time. Over the past 24 hours, Bitcoin has continued to grow steadily, having its price increase by 1.66% to $10,944 at press time. Bitcoin 7-day…