Day: March 10, 2020

Crypto Scams Are The Second Riskiest in North America

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A report published by the Better Business Bureau (BBB) says that cryptocurrency-related scams are continually growing, becoming the second most risky of 2019 among North Americans. According to research from trust-gauging organization published on March 2nd, scams averaged about $3,000 in losses for businesses and charities within Canada and the United States. The usual tactic, the study claims, is that of false promises of a “significant” return on investment in cryptocurrencies. With such figures on the table, it represents a notable uptick since their 2018 report’s numbers, which put average…

Europe’s New AML Rules Made Crypto More Attractive to Institutions, Says Boerse Stuttgart Exec

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The fifth anti-money laundering directive (AMLD5) has unexpectedly increased institutional interest in cryptocurrencies, according to an executive at the crypto trading subsidiary of Boerse Stuttgart. Speaking at the CryptoCompare London conference Tuesday, Boerse Stuttgart’s chief digital officer, Dr. Ulli Spankowski, admitted he had been “surprised” by the positive effect 5AMLD had on attracting traditional financial institutions into cryptocurrencies. “I actually didn’t think anything would happen because banks and other financial institutions could already do crypto custody [and] could do crypto trading,” Spankowski said. But since the law came into force…

Europe’s New AML Rules Made Crypto More Attractive to Institutions, Says Boerse Stuttgart Exec

boss

The fifth anti-money laundering directive (AMLD5) has unexpectedly increased institutional interest in cryptocurrencies, according to an executive at the crypto trading subsidiary of Boerse Stuttgart. Speaking at the CryptoCompare London conference Tuesday, Boerse Stuttgart’s chief digital officer, Dr. Ulli Spankowski, admitted he had been “surprised” by the positive effect 5AMLD had on attracting traditional financial institutions into cryptocurrencies. “I actually didn’t think anything would happen because banks and other financial institutions could already do crypto custody [and] could do crypto trading,” Spankowski said. But since the law came into force…

Huobi Releases New Mobile App for Crypto Trading

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Huobi Group has officially announced the launch of its new mobile application, Huobi Lite. Per a March 10 announcement, the new app will allow anyone to trade major cryptocurrencies on Android and iOS without fees or commissions. Users will be able to trade cryptocurrencies with fiat currencies such as the United States Dollar, Vietnamese Dong, Malaysian Ringgit, Hong Kong Dollar and Chinese Yuan through multiple payment methods, including credit cards. Crypto assets supported in the app Currently, Huobi Lite supports BTC, ETH, USDT, HT, EOS, BCH, XRP, LTC and HUSD,…

Federal Reserve Injects $168B, Greater Than Entire BTC Market Cap

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After several days of plunging markets, the U.S. Federal Reserve added $168 billion into the economy — a total higher than all money currently invested in Bitcoin. “Separate auctions Tuesday in the short-term lending market, or repo, saw a two-week offering massively oversubscribed, with $93 billion offered for a $45 billion operation,” according to a March 10 CNBC news brief: “An overnight offering saw the New York Fed’s trading desk fill $123.625 billion in bids.” Essentially, the U.S. Federal Reserve has put more cash into play in the economy.  Bitcoin’s…

Bitcoin’s Plunge Due to Traditional Markets Falling or PlusToken Dumping?

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Some authorities think current traditional market instability lies behind Bitcoin’s (BTC) recent plunge, while others feel the alleged PlusToken scam is the cause.  Bill Herrmann, CEO of alternative investment banking firm Wilshire Phoenix, believes Bitcoin’s recent bearishness is simply due to traditional market instability. “The recent drop in the price of bitcoin is a result of the sudden and fierce decline among most asset-classes over the last several weeks,” he told Cointelegraph, adding: “In times of extreme volatility, which is often followed by panic — most retail investors, whether it’s…

YouTube Continues Crypto Ban | Cointelegraph

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In another bout of censorship, YouTube has deleted two videos form two separate crypto channels.  Ivan on Tech, a crypto programmer, tweeted that YouTube deleted one of his videos on March 9. The Moon, a technical analyst and news reporter, said the content platform deleted one of his compositions on March 10. YouTube banned many accounts in 2019 Numerous crypto YouTubers suffered bans and strikes near the end of 2019, including Chris Dunn, Crypto Beadles and Altcoin Daily. Chris Dunn noted that YouTube banned his channel for “harmful or dangerous…

Global Blockchain IoT Market to Grow at a CAGR of 91.5% by 2026

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A study by a market research firm Research Dive ensures that the global blockchain IoT market size could reach $5,802.7 million in 2026, in addition to the compound annual growth rate (CAGR) being around 91.5% projected for that period. According to India-based firm Research Dive, the increasing adoption of the IoT blockchain and the increase in operational efficiency among organizations are among the reasons for future market growth. What’s driving this trend? Worldwide IoT connectivity for data sharing is one of the catalysts for such a boost in the market.…

Bitcoiners in Europe Reflect on Economic Shocks as Coronavirus Spreads

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With assets from oil barrels to bitcoin being pulverized by the coronavirus slowdown, people worldwide are reevaluating their plans for crypto gatherings, especially in geographies where anti-COVID-19 measures are increasingly serious.  In Milan, Italy, which was officially placed in lockdown by the Italian government on Sunday, bitcoin entrepreneur and meetup organizer Mir Liponi is facing more pressing concerns than her hobbyist meetup of 1,800 members. Weddings and funerals are forbidden, she told CoinDesk. Most grocery shopping is done online, which leads to delayed deliveries. “Authorities told us we will always…

Ivan on Tech Clashes With Richard Heart in Latest Cointelegraph Crypto Duel

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Prominent crypto Youtuber Ivan On Tech and HEX founder Richard Heart clash on everything crypto in Cointelegraph’s latest crypto duel. The two crypto celebrities discuss Richard Heart’s controversial cryptocurrency HEX, which began crashing shortly after its launch in December. Ivan concedes that Richard might have misled investors by promising HEX will be the fastest appreciating asset in human history. However, he refrains from calling the cryptocurrency an outright scam: “All in all, possibly a bad project, but a scam? I don’t think so.” Richard, on the other hand, denies any…