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On June 30, a Russian criminal court denied a motion to provide restitution to a victim of what would in many jurisdictions be a felony, arguing that Bitcoin (BTC), as a virtual currency, does not enjoy the same property protection as other assets. The case goes back to 2018, when the two men impersonating Federal Security Service (FSB) agents and their accomplices kidnapped the victim and forced him into giving them 5 million rubles or $90,000 in cash and 99.7 BTC — worth about $900,000 at the time. The kidnappers…
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Kazakhstan officials revealed the nation’s digital currency development plan to experts from Russia and China at “2020 Astana Online Financial Day”. According to the China Ministry of Commerce on July 1, Kazakhstan plans to double its digital currency mining investment by the end of this year, and continues to develop its central bank digital currency. According to the report, Kazakhstan’s digital currency mining project attracted 82.6 million Tenge, which is about 20 million USD. The scale of this investment will increase by 80 million Tenge in 2020. Blockchain and CBDC…
Rumors recently surfaced of mainstream payment giant PayPal adding crypto as an option on its platform. Although he had no additional information on the legitimacy of the rumors, OKCoin COO Jason Lau said digital assets on PayPal would further crypto adoption. “When a traditional player like PayPal, who has 325 million users, enters the crypto space, it is sure to have a positive impact in highlighting cryptocurrencies to a big new audience,” Lau told Cointelegraph via email correspondence on June 24. PayPal rumors and job listings surface Rumors hit the web…
If the current price action is a top formation, then it doesn’t match the sharp spikes Bitcoin and blow-off tops the cryptocurrency is known for. Only one other time has a comparable rounded top formation appeared on BTCUSD price charts over the last ten years. And when it happened, a major correction followed. Should the first-ever cryptocurrency fail to pump soon and prove this trading range isn’t a top, then another collapse could be next. When Will The Confusing, Sideways Trading Range End and Crypto Break Out? The current Bitcoin…
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Bitcoin broke above $9,250 for the first time since Friday as the leading cryptocurrency continues to trade in a tight range just above $9,000 for several weeks. But cryptocurrency markets have stayed quiet as traders expect a big move. Bitcoin was trading hands around $9,250 as of 20:00 UTC (4 p.m. ET). Ether, the second-largest cryptocurrency by market capitalization, gained 3%, trading around $232 as of 20:00 UTC (4 p.m. ET), according to Bitstamp. Despite trading above $9,250, bitcoin is still stuck within a tight range of a few hundred…
XRP spent the last several years as the worst performer in the cryptocurrency market. And even though the altcoin has been beaten and battered, it has recently sunk even lower compared to Bitcoin and Ethereum. Why exactly is the altcoin commonly referred to as Ripple, so severely crippled and unable to gain positive momentum? XRP Underperformance Against Bitcoin and Ethereum Reaches New Extremes For two years running, XRP has been among the worst performers in the cryptocurrency space, alongside XLM. The previously third-ranked cryptocurrency reached an all-time high of over…
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