Day: November 6, 2019

China’s President Xi Has ‘Credentialized’ Cryptocurrency, Says Novogratz

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China’s President Xi Jinping gave credibility to blockchain and crypto by calling the country to accelerate blockchain adoption, said Galaxy Digital CEO Mike Novogratz. The cryptocurrency investor delivered his remarks speaking at the Reuters Global Investment Outlook 2020 Summit in New York on Nov. 5. Xi “just credentialized crypto and blockchain” Michael Novogratz, founder at crypto investment bank Galaxy Digital and a major Bitcoin (BTC) bull, believes that the Chinese president’s announcement in late October triggered the recent surge in Bitcoin’s price.  By urging China to embrace blockchain technology for…

China’s President Xi ‘Credentialized’ Cryptocurrency, Says Novogratz

boss

China’s President Xi Jinping gave credibility to blockchain and crypto by calling the country to accelerate blockchain adoption, said Galaxy Digital CEO Mike Novogratz. The cryptocurrency investor delivered his remarks speaking at the Reuters Global Investment Outlook 2020 Summit in New York on Nov. 5. Xi “just credentialized crypto and blockchain” Michael Novogratz, founder at crypto investment bank Galaxy Digital and a major Bitcoin (BTC) bull, believes that the Chinese president’s announcement in late October triggered the recent surge in Bitcoin’s price.  By urging China to embrace blockchain technology for…

Kim Dotcom’s Planned Token Sale Is Off, Says Bitfinex

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Bitfinex and a blockchain project launched by Kim Dotcom have “mutually agreed” to part ways, scuppering a planned initial exchange offering (IEO) for the controversial internet entrepreneur. Citing the current “regulatory environment” and the “risks associated with raising funds” for the project, Bitfinex said in a blog post Wednesday that it was in the interest of its “community” not to host the sale of Dotcom’s kimcoin token. Dotcom was notably the founder of Megaupload, a file-sharing site shut down in 2012 for violating piracy laws by the U.S. Department of Justice. He’s currently…

BitMEX Email Data Leak Fallout Is Serious, Many Users Already Affected

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On the first day of November, it came to light that popular crypto derivatives exchange BitMEX had accidentally leaked sensitive data related to its users, which occurred as a result of the company failing to apply a blind copy protocol to its mass mail servers. The lapse was acknowledged by the firm just a few hours later. BitMEX’s deputy chief operating officer, Vivien Khoo, released a statement saying that BitMEX had accidentally sent out a message to most of its users containing the email addresses of other users in the “to”…

Binance to Advise Ukraine Government on Upcoming Crypto Regulation

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Malta-based cryptocurrency exchange Binance has agreed to help Ukraine prepare new rules for cryptocurrencies, as well as digitize the country’s finances. Announced by the exchange Wednesday, Ukraine’s Ministry of Digital Transformation has signed a memorandum of understanding (MoU) with Binance to work together on “establishing the potential legal status of virtual assets and currencies in the country.” The ministry was founded in September to supervise Ukraine’s transition to a digital economy and online government services. Under the MoU, Binance and the ministry will start a joint working group to discuss…

China Won’t Be Banning Bitcoin Mining Activities in the Country

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It’s a great moment of cheer for all cryptocurrency miners carrying out operations based out of China. In the latest development, the China National Development and Reform Commission (NDRC) has decided to withdraw its proposal of banning crypto-mining activities (including Bitcoin mining) taking place in the country. On Wednesday, November 5, the NDRC published a new catalog for Guiding Industry Restructuring. The new version replaces the earlier one created in 2011 wherein the agency had proposed banning the crypto mining activities in China. BREAKING 6 months ago CT was screaming…

Hong Kong Brings License to Crypto Exchanges

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Opt-in based framework; limited impact expected. Still PI only. Overview Hong Kong is stepping up its efforts to formally regulate cryptocurrency exchanges in the city. The Securities and Futures Commission just released a newly drafted regulatory framework, which allows the securities watchdog to issue licenses to crypto trading platforms. Could this be a game-changer for the crypto industry? As a leading global financial hub, what does the new regime means to the city? A Comprehensive Framework A year ago, the SFC announced a regulatory sandbox amid providing a confined environment…

Video: Bitcoin Cash Lets You Buy Equity Over the Counter at a Bar

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With all the talk about investing in digital assets new people to the scene might not know that cryptocurrency is still being used as peer-to-peer electronic cash as it was intended. The latest video from Bitcoin.com shows how BCH is used to buy anything from drinks at the bar to equity in a venture safely and easily. Also Read: Video: Will Bitcoin Crash or Double in Price After the Halving? Miners Have Their Say Using Cryptocurrency at the Bar The Bitcoin.com team recently attended a bitcoin cash meetup at Brewdog…

‘Bitcoin Price Will Reach $16k Soon as 1.4B People Are Working On It’

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Binance CEO Changpeng Zhao (CZ), has suggested that Bitcoin price will hit $16,000 sometime soon. According to him, 1.4 billion people are currently working (directly or otherwise) to push the king coin to new heights. Growth in the crypto market is almost always measured by price trajectories and the likelihood that an asset would find adoption, consequently increasing its price. With Bitcoin being the asset with the largest market cap and consequently the highest priced and strongest market dominance, the cryptosphere is almost always waiting for a Bitcoin price surge.…

China Signs Agreement With Hong Kong Central Bank for Blockchain Push

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Blockchain has received fresh endorsement from China in the form of a development pact with the de facto central bank of Hong Kong.  In a news post on Nov. 6, the Hong Kong Monetary Authority (HKMA) confirmed it had signed a Memorandum of Understanding (MoU) with a subsidiary of the People’s Bank of China (PBoC). Central banks want “more convenient trade finance” The deal aims to create a Proof-of-Concept for a trade finance platform from Q1 2020, linking two existing projects: the HKMA’s eTradeConnect and the PBoC’s Trade Finance Platform. …