February 11, 2020

US Congressman Challenges Fed Chair on Threat of China’s Digital Currency

February 11, 2020 boss

United States Congressman Bill Foster (D-IL) has questioned the Chair of the Federal Reserve Jerome H. Powell on U.S’s central bank digital currency (CBDC) progress at a hearing on monetary policy earlier today. Foster hopes for a digital dollar Foster began his questioning by asking Powell: “Do you think that establishing a digital dollar would help ensure that the U.S. dollar continues to serve as the core of the U.S. and the world’s financial system?” Powell agreed with the importance of the dollar to the U.S.’s financial system: “I think…

Users of Bitcoin.com Exchange Can Win Rewards Worth $25,000 in Gocrypto Trading Competition

February 11, 2020 boss

Gocrypto enables businesses with physical or online stores to accept instant crypto payments from different digital wallets with millions of users. To help introduce the SLP token to even more users, Bitcoin.com Exchange is hosting a trading competition where you can win rewards worth $25,000 in GOC. Also Read: Gocrypto SLP Token Starts Trading on Bitcoin.com Exchange GOC Trading Competition Bitcoin.com Exchange is launching a new trading competition to celebrate its partnership with Gocrypto. In total, users can win $25,000 worth of GOC in prizes in this event. The trading…

A Million EPayments Accounts Frozen Due to Regulation Control

February 11, 2020 boss

EPayments Systems Ltd, a United Kingdom-authorized electronic money institution, must suspend online payment operations due to the Financial Conduct Authority’s anti-money-laundering (AML) procedures. EPayments has released a short statement on its website and has sent out emails to its customers to give a few details on the FCA’s regulatory checks. This regulation has frozen ePayments one million user accounts and has banned new account openings. “Following discussions with the FCA, ePayments has agreed to suspend activity on customer accounts until remedial action has been undertaken to the satisfaction of the…

Crypto Crime Doubled in 2019, but Still Under 1% of Transactions

February 11, 2020 boss

It’s a new decade with an old problem for law enforcement officials: How do you stop cybercriminals from stealing billions of dollars in cryptocurrency and using it for illicit purposes? These kinds of criminal activities range from selling illicit drugs, firearms, documents, identities and ransom schemes, to flat out stealing assets — more than $40 billion was noted as fraudulent in the first nine months of 2019, according to a Chainalysis report. The report highlights that illicit activity doubled from 0.04% in 2018 to 0.08% in 2019. While this percentage…

Crypto Is ‘Hot’ Right Now as Traders Explain Price Moves

February 11, 2020 boss

Beginning a rally at the start of 2020, Bitcoin (BTC) and the rest of the crypto market continue to fly upward, showing little signs of slowing down. The “crypto market is hot right now, and what stands out to me the most is that there are plenty of altcoins that are still running even with the strength $BTC is displaying right now,” CNBC crypto trader and Twitter personality BigCheds told Cointelegraph in a message on Feb. 9. BigCheds added: “Normally when $BTC and other majors [top market cap altcoins] are…

Bloomberg Can’t Pander His Way out of His Racially Insensitive Past

February 11, 2020 boss

Recent leaks could derail Michael Bloomberg’s presidential campaign. He expresses support for racial profiling and stop-and-frisk; many voters believe these policies are racist. Are the Democrats handing Trump a 2020 victory? Democratic presidential candidates need to court African Americans to win the party’s nomination. A new audio leak of an allegedly-racist speech from 2015 will only make that challenge more difficult for Michael Bloomberg. No amount of cringe-inducing pandering will be able to undo this mess. Bloomberg is already being compared unfavorably to Donald Trump. If the Democrats don’t get…

New Canadian Dollar-Pegged Stablecoin QCAD to be Regulated by FinTRAC

February 11, 2020 boss

Major Canadian investment fund manager 3iQ and blockchain firm Mavennet co-launched a new regulated stablecoin pegged to the Canadian dollar (CAD). Developed by Canada Stablecorp, a joint venture between 3iQ and Mavennet, QCAD is the latest CAD-based stablecoin and was officially launched on Feb. 11. QCAD total supply accounts for about 150,000 CAD at the launch Based on the Ethereum blockchain, QCAD implements popular token standard ERC-20 and is targeting the mass market. While QCAD is not yet listed on major websites tracking crypto market capitalization like Coin360, QCAD transactions…

CME’s Chief Economist Echoes Pomp’s Views on BTC as Hedge

February 11, 2020 boss

Mainstream financial entities are beginning to see Bitcoin (BTC) as a non-correlated asset, a concept Morgan Creek Digital Co-founder Anthony Pompliano has been promoting for over a year. “If Bitcoin is not likely to correlate to economic factors, or to traditional equities and fixed income securities, then Bitcoin could serve as a portfolio diversification tool,” said chief economist at the Chicago Mercantile Exchange Bluford Putnam said in a Feb. 11 video on Finbold. Bitcoin’s price does not move in stride with traditional markets Since Bitcoin is a new kind of…

CME’s Chief Economist Echoes Pomp’s Views on BTC as Hedge

February 11, 2020 boss

Blockstack Pauses App Mining Pilot Due to Challenges in Running Program

February 11, 2020 boss

Privacy-centric computing network and app ecosystem Blockstack has paused its App Mining pilot due to a range of challenges. Rolled out in 2018, the App Mining project is designed to incentivize developers to build apps on Blockstack. Although the startup has ostensibly seen a healthy app growth throughout 2019 — from 46 to more than 400 apps so far, — it admitted an array of challenges in running a program of increasing size and complexity, according to a Feb. 10 blog post. Three key challenges to be solved As such,…