Day: February 27, 2020

Lawsuit Alleging Ripple’s XRP Is Unregistered Security Moves Forward

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A United States federal district court has decided to allow a lawsuit alleging that Ripple’s XRP crypto asset is an unregistered security. Court documents filed on Feb. 26 reveal that Judge Phyllis Hamilton of the Court of the Northern District of California ruled to only partially grant Ripple’s motion to dismiss the lawsuit against it. The lawsuit in question was initiated in August 2019 by XRP investor Bradley Sostack, who alleges that the firm misled investors and sold XRP as an unregistered security in violation of federal law.  The lawsuit…

How Can Crypto Change the Travel Industry?

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If government corruption affects the stability of the national currency, it’s only natural that citizens will turn to gold or other assets like Bitcoin (BTC) to invest their savings. It offers them a sense of financial control in an otherwise unstable market. And it’s not just investing that is feeling the impact of crypto. This technology has the capacity to change the way we live. The freedom to travel and transact is a fundamental right everyone should have, and cryptocurrency adoption is all about providing freedom. Related: What Does Mass…

FCoin Working to Resume Operations, Promises to Return Lost Funds

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The FCoin exchange has officially announced that it will relaunch operations. A committee was formed after the exchange announced insolvency, promising to eventually return users’ funds. The exchange’s existing team will resume the operation of the FCoin and FMex websites, handing them over to an “interim committee” led by community representatives. The announcement was made on Feb. 27 on FCoin’s support page. The community will draft a compensation plan for the users affected by the insolvency. No details are available, with the announcement suggesting that it could be a mix…

Bitcoin and Ether Market Update: February 27, 2020

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Total crypto market cap lost $37.5 billion from its value since Monday morning and now stands at $246.2 billion. Top ten coins are all in red for the last 24 hours with Litecoin (LTC) and EOS (EOS) being the biggest losers with 11.5 and 9.3 percent of losses respectively. At the time of writing Bitcoin (BTC) is trading at $8,722 on the Bitstamp daily chart, while ether (ETH) moved to $218 and Ripple’s XRP fell down to $0.231. BTC/USD Bitcoin registered one of its best session in the last few…

Manchester United Should Dump Error-Prone David De Gea This Summer

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Reports suggest Ole Gunnar Solskjaer is considering cashing in on the Spaniard. De Gea has dropped off in the last two years and his sale would generate much-needed funds to reinvest. Dean Henderson has proven himself on loan at Sheffield United this season. It would have been unthinkable a few years ago to suggest that Manchester United might be better off without David de Gea. The Spaniard was a rare bright spot in the first few years of the post-Alex Ferguson era at Old Trafford. De Gea won the club’s…

Hong Kong and Abu Dhabi Change Crypto Regulations to Align With FATF

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On Feb. 26, Hong Kong’s financial secretary Paul Chan stated that his administration will strengthen its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) policies regarding cryptocurrencies. In his recent budget speech, Chan indicated that the amendments will address recommendations made by global financial watchdog, the Financial Action Task Force (FATF).  New regulations to affect crypto exchanges, precious metals dealers The FATF assessed that Hong Kong was “largely compliant” with its AML/CTF guidelines following a September 2019 evaluation. The assessment saw Hong Kong become the first jurisdiction in the Asia-Pacific region…

‘Rationalized Bulls**t’ — Vitalik Buterin Pans Bitcoin Price Forecasts

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Ethereum (ETH) co-founder Vitalik Buterin does not believe that the popular stock-to-flow model is useful for predicting the Bitcoin (BTC) price. In a Twitter debate on Feb. 27, Buterin became the second well-known figure to criticize stock-to-flow, which calls for BTC/USD to trade at an average $100,000 between 2021 and 2024. Buterin: stock-to-flow forecasts “part of the 95%” The model has been historically accurate at predicting Bitcoin’s growth and currently calls for an average of around $8,606. After trading at more than 20% higher, Bitcoin this week fell to within…

Hong Kong Regulators Set to Tighten Oversight on Bitcoin Exchanges

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Authorities in crypto-friendly Hong Kong have revealed that the nation is making plans to further increase regulatory oversight on bitcoin (BTC) trading venues and crypto-related businesses operating in the state, in accordance with the recommendations of the Financial Action Task Force (FATF), according to a speech on February 26, 2020. Hong Kong to Strengthen AML/CTF Rules  While coronavirus-stricken neighbors, China have since made it clear that bitcoin (BTC) and altcoins are forbidden fruits in its territory, the highly autonomous Hong Kong Special Administrative Region has implemented robust rules that enable…

Dangerous Coronavirus is 12x More Contagious Than MERS, Study Finds

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Coronavirus is more contagious than MERS and SARS by a factor of 12. One person can affect 1,728 people in a matter of days in places with low safety measures. Coronavirus has already killed more people than SARS in a shorter time frame. According to official data from the government of South Korea, coronavirus is 12 times more contagious than MERS and 3 times more than SARS in facilities with weak measures to combat against virus outbreaks. Coronavirus reproductive infection rate? A factor of 12 In a hospital in South…

Bitcoin Price Plunge Stopped Right at 200 EMA, And It Means Recovery is Imminent

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The bitcoin price plunged by around eight percent overnight against the USD in one of the strongest long squeezes in recent months. The pullback stopped right at 200-day exponential moving average (EMA), and the dominant cryptocurrency has started to show signs of recovery. Bitcoin is recovering at a key level The 200-day EMA is an indicator that is used by traders across various sectors as a key level to decide the short to medium-term trend of an asset. Often, when an asset surges significantly in a short time frame, it…