Crypto News From Turkey: Nov. 2-Nov. 9

In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Turkey, President Recep Tayyip Erdogan directed the government to finish testing a national central bank digital currency (CBDC) next year and a fraud saw up to 40 people losing 600 Bitcoins (BTC) — equivalent to roughly $5.2 million. Digital lira to be internalized next year The Presidential Program published by Turkey’s official national publication Resmi Gazete on Nov. 4 established that the government should complete the test phase of the nation’s CBDC by the end of 2020. The government plans…

Tunisia to Launch E-Dinar National Currency Using Blockchain

Tunisia has become the first country to start moving its national currency to a blockchain platform. Russian ICO startup Universa will help issue and manage Tunisia’s Central Bank Digital Currency (CBDC), reported Russian news agency Tass on Nov. 7. E-dinar expected to be more transparent, cheaper to issue The Central Bank of Tunisia announced that the digitization of the Tunisian dinar has started and that the paper-backed CBDC will be issued on the Universa Blockchain.  Furthermore, Universa will also reportedly receive a percentage of all transactions carried out with the…

What to Expect From the Next Bitcoin Cash Protocol Upgrade

On November 15, shortly after 12 p.m., Bitcoin Cash (BCH) will execute an upgrade of the network’s consensus rules. After the upgrade is locked in, the next block will enforce minimal pushdata in script and the opcodes OP_Checkmultisig and OP_Checkmultisigverify will be upgraded to accept Schnorr signatures. Also Read: QE Infinity: 37 Central Banks Participate in Stimulus and Easing Practices Delivered Code Next Friday, Bitcoin Cash proponents will be watching the BCH chain upgrade the current consensus ruleset in order to add two new features. Developers have been discussing the…

Her Majesty the Queen Rules Out Crypto as Currency

Only a few weeks after the United States Internal Revenue Service published new guidance for crypto taxation, the United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs, has updated its cryptocurrency taxation policy paper for businesses and individuals. The HMRC's approach in this policy paper is, as expected, conservative, and it stands in line with other countries’ tax treatment for cryptocurrencies. The HMRC explicitly states that it does not consider crypto as a currency, and the policy paper uses the term "cryptoassets" and not cryptocurrency. The policy…

Bitcoin Price Hovers Under $8,800 as Top Altcoins See Minor Gains

Saturday, Nov. 9 — most of the top 20 cryptocurrencies are reporting minor gains on the day at press time, as Bitcoin (BTC) hovers under the $8,800 mark again. Market visualization courtesy of Coin360 Bitcoin price is currently up by 0.27% on the day, trading at around $8,795 at press time, according to Coin360. Looking at its weekly chart, the coin is down by almost 5.5%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph recently reported, yesterday Bitcoin fell below $9,000 and lost over $200 in an hour. Ether (ETH)…

Are Bitcoin and Other Cryptos Back in a Bear Market After Latest Drop?

On Nov. 8, Bitcoin corrected from $9,200 to $8,650, causing the market sentiment to shift from greed to fear once more.  The correction came after one of the biggest surges in the history of Bitcoin (BTC), which makes the sentiment shift curious. Let’s take a look at the market overview and analyze the charts. Crypto Market Daily Data View. Source: Coin360 Bitcoin loses 200-Day Moving Average as a key indicator The recent correction made Bitcoin price lose the 200-Day Moving Average (MA), which is a key indicator for many traders…

Russia Contemplates Law to Allow Cryptocurrency Confiscation by Government Agencies

According to Russian media publication RBC, Russia has started working on changing the law that currently grants permission to the law enforcement agencies in confiscating and seizing digital currencies such as Bitcoin(BTC)trade. The Ministry of Internal Affairs of Russia have set the agenda to create a structure of legal mechanism for the confiscation of cryptocurrency and other such digital assets, as reported by the media outlet. The Ministry of Internal Affairs is working on developing the proposals along with the help of other government departments like the Federal Financial Monitoring…

Tether Supports Peter McCormack’s Defense Against Craig Wright

Leading stablecoin operator Tether has announced it will support crypto podcaster Peter McCormack in a lawsuit against self-proclaimed Bitcoin (BTC) creator Craig Wright. General counsel for Tether and cryptocurrency exchange Bitfinex, Stuart Hoegner, revealed on Nov. 8 that Tether also rejects Wright’s claims of being Satoshi Nakamoto. He explained: “Wright has had myriad opportunities to prove that he is Satoshi and has not definitively done so.” As Cointelegraph reported in April, Bitcoin SV (BSV) proponent Craig Wright filed a libel claim against McCormack over him accusing Wright of fraud and…

Is Bitcoin’s Current Weight Loss Related to Bakkt’s Volume Weight Gain?

Bakkt has set a new all-time high in traded volumes as it has done a few times recently, while BTC has lost some of its weight in pretty much the same period. Yesterday, Bakkt set a new record high just as the Bitcoin price fell as it’s wont to do. While the two events are relatively normal individually, it’s somewhat interesting that they happened around the same time, with the new Bakkt record coming in just as Bitcoin fell. What are traders thinking? Last year, the Intercontinental Exchange (ICE) announced…

The Power in Energy, and How New Technologies Can Shift It

The world is slowly, but very surely, turning its attention to climate change, and to the human activities that are having the largest impact. The recent U.N. General Assembly on Climate Change broached these topics in detail, looking at how politics, economy and human activity need to change in order to limit the damage being done to the environment.  While industries such as oil and fashion leave a prominent carbon footprint that is difficult to reduce, that should not deter others, such as the tech industry, from finding solutions that limit their…