Day: January 6, 2020

Bitcoin Set For Breakout Amid Escalating Iran Tensions

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Bitcoin could be set for a major breakout as escalating tensions between the US and Iran drive investors to safe-haven assets, with cryptocurrency and gold values surging. Tensions in the Middle East reached a critical point on Thursday after US President Donald Trump ordered a drone strike on a vehicle convoy near Baghdad International Airport, which killed the commander of Iran’s Islamic Revolutionary Guards Corps (IRGC) Quds Force Qasem Soleimani. Widely regarded as the second most powerful figure in Iran, his death has prompted a dramatic escalation of tensions between…

‘Pro-Bitcoin’ Telegram Group Enters Read-Only Mode, Group Contributor Says Reason Unclear

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On Jan. 3 a “pro-Bitcoin” news outlet called “Nakamoto” launched with the stated intention of letting industry thought leaders share positive content about cryptocurrencies. According to the about section of the Nakamoto website, the platform was launched “to create a venue for quality technical, philosophical, and cultural writing that is of general interest to the crypto community as a whole, for beginners and experts alike.” The news site also mentions that “all Nakamoto contributors share one non-negotiable value: they must be pro-Bitcoin (BTC) for the long-term.” While this may be the…

Taking the TON Out of Telegram

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Last week, the US government took out a key Iranian military leader. As the world – and the markets – reacts to the news, some are asking what happens with bitcoin. With global instability on the rise, will more people turn to bitcoin as a safe haven asset? Will speculators drive the price up on that narrative even if it doesn’t bear out in reality? If Iranians use crypto, will that draw the attention and ire of regulators?  In a different area of the industry, Telegram has released updated information…

Bitcoin as a Safe Haven? US-Iran Tensions Rekindle Debate

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Bitcoin’s recent price jump after the U.S. killing of a top Iranian general has rekindled a long-running debate among investors: whether it will work as a safe-haven asset like gold in times of heightened geopolitical and economic turmoil.  The cryptocurrency changed hands around $7,500 on Monday, up about 10 percent since Iran’s top general, Qassem Soleimani, was killed in a lethal drone strike authorized by U.S. President Donald Trump. U.S. stocks fell on the news as investors worried the conflict between the two nations might escalate into a prolonged and…

US State of Virginia Legislature Looks to Blockchain for Elections

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In the United States, Virginia’s state legislature looks to study blockchain to improve elections and voting. Prefiled on Dec. 27 and scheduled for offering on Jan. 8, a new bill requesting further study into blockchain-based elections has emerged in Virginia’s General Assembly. The bill, House Joint Resolution 23, asks the Department of Elections to determine whether blockchain technology should be considered to secure voter records and election results. What the bill could mean for Virginia’s elections The bill’s patron is state delegate and cybersecurity specialist Hala Ayala (D-51). It is…

Join CoinDesk at CES This Week

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CoinDesk is on the floor of the biggest tech show in the world! Join us on Jan. 8 for an evening of brews, bitcoin and blockchain. The event will be held at G.O.A.T. Sports Bar in Las Vegas and starts at 6 p.m. on Jan. 8. We’ll close up at around 8 p.m. but we’ll be around to chat after the event. There is no formal agenda, just some networking. The G.O.A.T. is at 3805 West Sahara Avenue. If you’d like to join us please RSVP below. We’re also looking…

Baidu Adds Service to Help Developers, Small Businesses Build Dapps

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Chinese internet giant Baidu launched on Monday a blockchain-based service for developers and small and medium-sized businesses to build decentralized applications, or dapps.  The new service, translated from the Chinese as Open Network, will enable users to develop and deploy applications without building their own blockchain platforms, according to a Chinese media report by STCN, a state-owned daily newspaper.  It is part of Baidu’s enterprise blockchain network Xuperchain and aims to attract smaller users with lower cost and technological barriers.  The move also fits into the Chinese government’s embrace of…

Tax Compliance Firm TaxBit Raises $5M to Improve Crypto Tax Reporting

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TaxBit, a crypto-oriented tax compliance firm, has raised $5 million in a seed round that saw participation from the Winklevoss twins’ family office, Winklevoss Capital. In a Jan. 6 announcement, TaxBit said that it plans to use the raised funds to enhance its software products on an international scale as its tax reporting tool has amassed thousands of everyday crypto users so far. Specifically, the Utah-based firm is planning to accelerate customer growth both in the U.S. and in regions like Canada, United Kingdom and Australia, TaxBit noted. TaxBit’s crypto…

MARKETS DAILY: Who Should Be Allowed to Invest?

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With bitcoin rising for the fourth straight day, up about 10 percent from Friday’s lows, its CoinDesk’s Markets Daily for todays essential update. Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action, track interesting longer-term trends and highlight some of the most important crypto industry developments of the day. Transcript resumes tomorrow More ways to Listen or Subscribe: Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides…

What Are the Main Crypto Conclusions of 2019

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At the beginning of this year, I predicted 3 major themes in cryptocurrency for 2019: Cryptocurrency would be embraced as “regtech” by financial institutions and regulators, it would play a vital role in sanctions enforcement, and Anti-Money Laundering practices (AML) would strengthen in Asia. As it turns out, 2019 was an important year for cryptocurrency in terms of regulations, but more in terms of clarity provided by the Financial Action Task Force (FATF) and FinCEN, than automating banks’ compliance programs and regulatory oversight. Notably, for the first time, FinCEN explicitly…