Day: October 11, 2019

Price Analysis 11/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

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Does the pullback in Bitcoin price and most major altcoins indicate that lower levels are likely? Let’s study the charts. The wait for a Bitcoin (BTC) exchange-traded fund got a bit longer as the United States Securities and Exchange Commission (SEC) shot down the proposal by Bitwise Asset Management and NYSE Arca.  The regulators felt that the application did not satisfy the requirement that it will “prevent fraudulent and manipulative acts and practices.” However, there was no noticeable reaction to this news, which shows that the market participants did not…

Chinese Mining Giant Canaan to Go Public in US in November: Sources

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Chinese crypto mining giant Canaan Creative plans to list as a publicly traded company in the United States in November 2019, according to an unconfirmed report. Canaan to issue 1.26 billion shares Canaan Creative, which reportedly filed a $200 million initial public offering (IPO) request with the U.S. regulators in July, will issue 1.26 billion shares which will be closed on Oct. 20, Chinese crypto outlet 8BTC reported Oct. 10, citing “people with knowledge of the matter.” The firm reportedly declined to comment on the news to 8BTC at the…

Top Coins Continue to Decline, Bitcoin Drops to $8,300 Threshold

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Friday, Oct. 11 — Major cryptocurrency markets have continued sliding over the day, with only three coins in the top-20 list reporting gains. Cryptocurrency market daily overview. Source: Coin360 The top cryptocurrency Bitcoin (BTC) is trading at around $8,355, having lost 2% on the day at press time. The majority of the decline took place over a period of just 1 hour earlier today, when the coin slumped from $8,734 to $8,404. Bitcoin’s recent price fluctuations are highly thought-provoking, leaving industry stakeholders much to speculate on. Metrics and predictive indices…

US SEC, FinCEN, CFTC Jointly Warn Against Illicit Use of Crypto Assets

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The chairmen of the three primary financial regulators in the United States have released a joint statement warning crypto users of anti-money laundering (AML) and countering the financing of terrorism (CFT) obligations. All for one, one for all The statement, published Oct. 11, is a rare instance of joint action from the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN) and the Securities and Exchange Commission (SEC). In the statement, the regulators remind those involved in the crypto trade of their reporting obligations under the Bank Secrecy…

US IRS Adds Question on Crypto Usage to New Income Tax Form Draft

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The United States Internal Revenue Service (IRS) has added a question on crypto ownership to the standard 1040 income tax form for the coming tax season. IRS wants to know about your crypto in 2019 On Oct. 11, a draft of the “Additional Income and Adjustments to Income” section of the new 1040 form surfaced that included a change was made to the ‘Additional Income and Adjustments to Income’ section. On the new 1040 form, the additional question reads: “At any time during 2019, did you receive, sell, send, exchange,…

How Severe Is Roche Freedman’s Lawsuit Against Tether and Bitfinex?

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At the start of October, New York-based legal firm Roche Freedman filed a new class-action lawsuit against stablecoin firm Tether and digital currency exchange Bitfinex. The case accuses the aforementioned entities of manipulating the market by using a host of sophisticated schemes that involved fraud, pump-and-dump schemes, as well as certain money laundering-related ploys. As a result of this legal drama, the USDT/BTC trade pair has witnessed a substantial decline in its market value (around 10% as of press time). USDT/BTC price over the last seven days As per the…

Ripple’s Xpring Invests in Crypto Wallet Provider BRD to Integrate XRP

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Ripple’s investment arm Xpring has invested into cryptocurrency wallet BRD to enable users to hold, purchase, sell and spend XRP tokens through the wallet. Xpring announced the development in an Oct. 11 blog post, noting that BRD — a mobile cryptocurrency wallet, with a reported user base of 2.5 million — will build on the Xpring platform to support and integrate XRP. Large user base and geography By selecting BRD, Xpring ostensibly focused on the wallet’s large user base and territorial coverage of 170 countries, as well as the company’s…

5,200 Tobacco Shops in France Now Sell Bitcoin

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Bitcoin can now be purchased at 5,200 tobacco shops in France. Fintech startup Keplerk launched the service on Oct. 10 after halting it for many months. France’s 24,000 licensed tobacco shops have diversified into non-tobacco products to boost revenue. Also read: IRS Issues New Crypto Tax Guidance – Experts Weigh In Buy Bitcoin at Tabacs French fintech startup Keplerk announced Thursday that it has resumed service selling BTC at “Tabacs” in and around Paris, after halting the service earlier this year. A Tabac is a convenience store licensed to sell…

IBM Launches New Blockchain Supply Chain Product Using Red Hat Tech

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Global tech giant IBM has launched a new integrated supply chain product based on IBM’s technologies including Watson AI and IBM Blockchain. Hybrid-cloud integration Called Sterling Supply Chain Suite, the new IBM’s product enables hybrid-cloud support of data integration between manufacturers, retailers and other network participants, purportedly providing greater reliability, transparency and security, the firm announced on Oct. 8. Specifically, the level of integration flexibility provided by the new service enables enterprises to update and improve their supply-chain solutions in accordance with business needs. Red Hat acquisition IBM says the…