Day: November 21, 2019

HSBC, Santander & SBI Group Preparing for RippleNet Mass Adoption

boss

Seismic shifts in the way banks do business are starting to be announced by global banking giants and it seems RippleNet/ODL is right at the epicenter.  Ripple Partner Banks such as Santander, HSBC and SBI Group are starting to come out of the woodwork regarding RippleNet usage and expansion. This is the year the wheat will be separated from the chaff. Not many months ago, the media was saying no one will use XRP, which made for good skeptical headlines. Today, you can’t say that, as people are starting to…

Bitcoin Extends the Fall, Now at One-Month Low Below $8K

boss

The year commenced with a massive rally in Bitcoin (BTC) that ultimately led to a sustained bull run, and the price of the world’s biggest cryptocurrency eventually reached levels that raised visions of 2017’s climb. However, that eventually came to an end, and the last few months have been pretty tough for the crypto industry at large. Why the Sudden Reversal? In a new development that would come as a bit of a shock for many in the crypto space, BTC has collapsed to below $8,000 levels today. This is…

Yahoo Finance Adds CoinMarketCap’s Crypto Prices to Its Website

boss

Yahoo Finance, the United States-based financial news giant, has integrated its website with cryptocurrency pricing by major crypto data supplier CoinMarketCap (CMC). The website now allows visitors to track prices for major cryptocurrencies, providing CMC-based data including market capitalization, trading volume, circulating supply and others. Verizon Media-owned Yahoo Finance and CMC confirmed their strategic partnership for cryptocurrency data and content in a press release to Cointelegraph on Nov. 21. Yahoo Finance’s crypto screener shows 118 cryptocurrencies Yahoo Finance’s cryptocurrency screener page provides pricing for a total of 118 digital currencies,…

Industry Says There Is Already Enough Regulation

boss

Earlier this week, the number of Bitcoin (BTC) ATMs installed worldwide reached a new milestone, surpassing 6,000. Coincidentally, another major development just a day before occurred within the same area: The United States Internal Revenue Service said it was looking into potential tax issues caused by such ATMs and kiosks. This development might allow the IRS to succeed in mitigating the use cryptocurrency for large-scale federal tax non-compliance, experts suggest. However, Bitcoin ATMs remain a low-transaction-size business which is already regulated enough to detect high-scale fraud.  Bitcoin ATMs, from a…

Vermont Power Utility Partners With Blockchain Firm for Local Solar Energy Sales

boss

Some Vermont-based households can now sell their excess renewable energy to businesses through blockchain-based energy startup LO3’s platform. Vermont power utility Green Mountain Power and LO3 jointly launched a pilot project that enables homeowners with solar panels to sell surplus power to businesses served by the utility, industry-focused publication Microgrid Knowledge reported on Nov. 19. 500 MWh in trades per year The project is called Vermont Green and is set to begin in December, with the initial objective to cover 50 businesses and 150 households. The partners expect the program…

Bitcoin Crashes Back to $7.4K Completely Wiping Out the October Rally

boss

Bitcoin (BTC) finally dropped all the way down to the $7.4Ks in minutes as anticipated in our previous analysis if the key $7.8K level did not hold.  Cryptocurrency market daily performance. Source: Coin360 Over the past week, BTC/USD has faced a slow grind down to the $8,000 price level. Now, Bitcoin also broke below its 0.786 Fibonacci retracement level as well — its last major level before a confirmed full retrace of the Oct. 25 rally to $10,500.  After a short bounce, Bitcoin has bounced back to around $7,600 at…

Binance Denies Police Raids, Very Existence of Shanghai Offices

boss

Recent reports that Chinese authorities have raided the offices of leading cryptocurrency exchange Binance, are actually quite false.  Speaking to Cointelegraph on Nov. 21, a Binance spokesperson refuted media reports that Chinese police had raided and subsequently shut down the exchange’s Shanghai offices. Furthermore, the spokesperson stated that no such offices even exist: “The Binance team is a global movement consisting of people working in a decentralized manner wherever they are in the world. Binance has no fixed offices in Shanghai or China, so it makes no sense that police…

China Crypto Crackdown? Sources Say Binance Shanghai Office Raided by Police

boss

Malta-based cryptocurrency exchange Binance’s Shanghai office has abruptly closed its doors, several sources close to the matter told the Block. According to the sources, the exchange’s Shanghai office was recently raided by local police where many of Binance’s executives and as many as 100 employees work. Binance Refutes Claims When reached for comment, a Binance spokesperson refuted the raid, saying that “we don’t have entities in China, most of us work remotely in China,” and that the exchange doesn’t have “a fixed office in Shanghai.” Binance’s denial of the existence…

New Bill Would Put Facebook’s Libra Stablecoin Under US Securities Law

boss

American lawmakers have reportedly introduced a bill aiming to put Facebook’s Libra under the jurisdiction of the Securities and Exchange Commission (SEC). Two Texas representatives, Sylvia Garcia and Lance Gooden, have proposed legislation that would put even more regulatory scrutiny on Facebook’s not-yet-launched Libra stablecoin and related projects, CNBC reports Nov. 21. The bipartisan team of the House Financial Services Committee introduced the bill today, speaking at a committee hearing on the role of big data in financial services. Libra is “clearly” a security under existing law, lawmaker claims In…