Bitcoin may finally achieve broader traction through the adult entertainment industry in 2020, but the chips aren’t stacked in its favor. So far, typical sex industry businesses like London’s 23 Paul Street strip club, said last June the venue stopped accepting bitcoin because customers simply weren’t paying with it. But the lightning network, a layer on top of bitcoin used for faster transactions with lower fees, may now be ready to facilitate broader payments for online platforms. Iterative Capital’s Escher project offers fiat on-ramps to the lightning network, with other…
Month: January 2020
Why Lightning Payments Aren’t Clicking for Porn Companies (Just Yet)
Bitcoin may finally achieve broader traction through the adult entertainment industry in 2020, but the chips aren’t stacked in its favor. So far, typical sex industry businesses like London’s 23 Paul Street strip club, said last June the venue stopped accepting bitcoin because customers simply weren’t paying with it. But the lightning network, a layer on top of bitcoin used for faster transactions with lower fees, may now be ready to facilitate broader payments for online platforms. Iterative Capital’s Escher project offers fiat on-ramps to the lightning network, with other…
Gemini Europe Hires New Chief Compliance Officer for Europe Expansion
Gemini Europe — the United Kingdom and EU affiliate of the Winklevoss twins’ United States-based crypto exchange Gemini — has appointed a new chief compliance and money laundering reporting officer. As part of the firm’s expansion into the transatlantic market, the new appointee, Blair Halliday, will oversee Gemini Europe’s compliance program in the region. A press release published on Jan. 28 revealed that Halliday will be based in London and report directly to Gemini’s managing director of the U.K. and Europe, the former Sterling Bank executive Julian Sawyer. A career…
Wallet Creator Offers $250K to Anyone Who Can Crack the ‘Hack-Proof’
Offline cold storage cryptocurrency wallet service provider GK8 is offering a bug bounty of up to $250,000 to the first person who can hack its product. GK8 — which presents its solution as a “hack-proof digital vault” that needs no direct or indirect connection to the internet — will place 14 Bitcoin (BTC) (over $125,000 at press time) in its wallet. Anyone who succeeds in breaking into the wallet will pocket its proceeds, plus an additional $125,000 prize. The bounty program will run from Feb. 3 (9:00 a.m EST) through…
$9,500 is Imminent For Bitcoin Despite 5% Intraday Gain: Here’s Why
Bitcoin gained bullish momentum above the key $8,800 resistance. As a result, BTC price surpassed $9,000 and it seems like the bulls are now aiming a test of $9,500. Bitcoin price is rising and it is now trading nicely above $9,000 against the US Dollar. The bulls are in control and there are high chances of a run towards $9,500. There is a key bullish trend line forming with support near $8,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to accelerate…
Gemini Hires Former Circle Compliance Officer to Oversee European Market
Cryptocurrency exchange Gemini has hired former Circle compliance officer Blair Halliday as chief compliance officer and money-laundering reporting officer for the U.K. and Europe, the company announced Tuesday. Halliday will report to Gemini’s managing director of U.K. and Europe, Julian Sawyer, and will work closely with the firm’s NYC-based chief compliance officer, Noah Perlman, who was formerly global head of financial crimes at Morgan Stanley. The move comes as ramped-up regulations go into effect with the European Union’s Fifth Anti-Money Laundering Directive (AMLD5), which requires crypto firms to demonstrate compliance…
Singapore Announces New AML Rules for Crypto Businesses
The Monetary Authority of Singapore (MAS) is updating its regulatory framework for digital payments. Announced Tuesday, Singapore’s Payment Services Act 2019 (PSA) brings so-called Digital Payment Token (DPT) services – effectively covering all crypto businesses and exchanges based in Singapore – under current anti-money laundering (AML) and counter-terrorist-financing (CTF) rules. As such, crypto businesses in Singapore are required to first register and then apply for a license to operate in the jurisdiction. Similar to the Fifth European Anti-Money Laundering Directive (AMLD5), which went into effect Jan. 10, Singapore’s new rules…
Ripple (XRP) Bulls In Driver’s Seat For A Run To $0.30: Here’s Why
Ripple is slowly rising above $0.2300 against the US Dollar and following both Ethereum and bitcoin. XRP price is likely to continue higher towards $0.2500 or $0.2850 in the coming days. Ripple price is trading with a bullish bias above the $0.2300 resistance against the US dollar. The price tested the $0.2350 resistance and it remains supported on dips. There is a major bullish trend line forming with support near $0.2305 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to rise further…
This Scenario Will Trigger A Larger Ethereum Rally: Key Levels To Watch
Ethereum gained momentum and broke the key $170 resistance and bitcoin rallied above $9,000. ETH price seems to be forming a larger trend and it could even clear $180. There were decent bullish moves in Ethereum above the $165 and $170 levels against the US Dollar. The price is up around 4% and it is likely to climb towards the $180 resistance. There is a key bullish trend line forming with support near $170 on the hourly chart of ETH/USD (data feed via Kraken). There could be a larger rally…
Bitcoin Price Breaks Through Key Resistance as Traders Target $9.2K
Bitcoin daily price chart. Source: Coin360 Bitcoin (BTC) bulls appear to have found a second wind which allowed them to push the price above $9,000 to daily high at $9,150. As discussed in an earlier analysis, bulls had been fighting to hold the price above $8,800 throughout the day and multiple attempts at knocking out the $9K mark were held back by $8,963 and $8,985. BTC USD 6-hour chart. Source: TradingView Traders will now look for Bitcoin to sustain above $9,118.85 in order to flip the $9,100 to $9,200 zone…