Day: July 1, 2020

Analyst Expects Bitcoin Price to Break Below $8,500; Here’s Why

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Bitcoin is maintaining its interim support level near $9,100, but an analyst expects the price to break bearish towards $8,500. The trader forecasted the downside move days after Bitcoin established a second-quarter top near $10,500 on June 1. The cryptocurrency has since accurately moved as predicted, further raising the possibility of a breakdown ahead. Bitcoin may undergo an aggressive sell-off in the coming weeks. The downside risks surface as the benchmark cryptocurrency cautiously trades above $9,100, accompanied by lackluster volume and record-low volatility. Traders are showing a clear bias-conflict, unable…

Amid the Crisis, a New Generation Is Ready for the Crypto Revolution

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As the world’s nations and financial institutions plan their recovery from the unprecedented economic upheaval in the wake of the COVID-19 crisis, more and more people are turning to digital assets. Cryptocurrency’s extraordinary resilience during the coronavirus crisis has lent renewed vigor to central banks’ plans to integrate digital currencies. Meanwhile, the younger generation is embracing cryptocurrency as an alternative way to build wealth. All this is made easier by innovative platforms that lower the barrier to entry. Corona makes the case for crypto It has become clear that the…

Digitex Futures’ DGTX to Start Trading on KuCoin, Expansion Plan Revealed

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Digitex Futures, the commission-free bitcoin futures exchange platform by Digitex Ltd is on its way to achieving a significant milestone by listing its native DGTX exchange token on KuCoin. According to the recent announcement, DGTX/BTC and DGTX/ETC trading pairs will be available on IDG Ventures backed KuCoin global exchange from July 3, 2020. Deposits for DGTX will open a day before on July 2. The listing of DGTX trading pairs on KuCoin enables over 5 million users from more than 200 countries to start trading the digital asset against popular…

Central Bank Digital Currency Touted as Solution to US Economic Overhaul

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Talk of a US central bank digital currency (CBDC) dominated proceedings, as the US Senate Committee on Banking, Housing, and Urban Affairs conducted a virtual meeting yesterday. The near two-hour-long hearing titled “The Digitization of Money and Payments” discussed competing with China’s CBDC offering, financial inclusion, and modernizing the current US economic model. Taking the lead in tabling senator’s questions was former Chairman of the US Commodity Futures Trading Commission (CFTC), Chris Giancarlo. Source: banking.senate.gov Now of The Digital Dollar Project as Project Director, Giancarlo shared his insights into how…

The Travel Rule – Revolutionising the Cryptocurrency Regulatory Framework – Blockchain News, Opinion, TV and Jobs

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by Erika Federis and Dominique Simon With the implementation of the Travel Rule right around the corner, big players in the crypto scene are scrambling to come up with numerous solutions in an attempt to comply with the Financial Action Task Force’s (‘FATF’) requirement. Recommendation 16 of the FATF’s handbook obliges Virtual Asset Service Providers (‘VASPs’) (i.e., crypto exchanges, wallet providers, custodians etc.) to ensure that all identifying information of originators and beneficiaries of digital assets are exchanged between transacting VASPs. This information will essentially ‘travel’ with those digital assets…

Major Economic Data Releases Tomorrow — How Would Bitcoin Respond?

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Bitcoin has started the third quarter mutely as its price fluctuates in a small $6-range. The cautious sideways movement surfaces ahead of the U.S. Non-Farm Payrolls (NFP) report releasing on Thursday. Observers expect a recovery of at least 3 million jobs in June, a piece of news that may help the S&P 500 and Bitcoin continue its rally into the new week. The price of Bitcoin on Wednesday rose modestly, signaling that the cryptocurrency will start the third quarter on a cautious note after closing the previous one more than…

UK regulators join forces to ensure online services work well for consumers and businesses

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The Competition and Markets Authority (CMA), Information Commissioner’s Office (ICO) and Ofcom have set up a new forum to help ensure online services work well for consumers and businesses in the UK. The Digital Regulation Cooperation Forum strengthens existing collaboration and coordination between the three regulators. It aims to harness their collective expertise when data, privacy, competition, communications and content interact. With the unique challenges posed by digital markets and services, and an evolving landscape as the EU transition arrangements end, regulatory cooperation has never been so important. The regulators…

ICO statement on the Competition and Markets Authority’s market study

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Simon McDougall, Executive Director for Technology and Innovation, said: “As data becomes ever more central to business models, the interaction between data protection and competition regulation increases. The Competition and Markets Authority’s (CMA) Market Study highlights the cross regulatory issues that arise in today’s digital landscape. We have welcomed the chance to contribute to this important work. “Giving people control over what happens to their personal data is central to data protection law in the UK and is also a vital element of consumer protection. Our joint engagement will bring…

As S&P 500 Flips 3,000 Into Support, Bitcoin’s Bull Case Grows

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Despite a worsening pandemic, geopolitical turmoil, and more, Bitcoin and the S&P 500 have fended off secondary declines after March’s liquidity crash. At least for the time being, BTC holds above $9,000 and the leading stock index remains above 3,000 points. Both measures have held their respective levels for more than a month. With the S&P 500 holding strong, Bitcoin also stands to rally. Related Reading: An Infamous Bitcoin Whale Just Resurfaced — and He’s Got a Bone to Pick S&P 500 Secures 3,000, Boosting Bitcoin Bull Case In early…

University of California Falls Prey to $1.15M Crypto Ransom Scam

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It’s no secret that the crypto industry is rife with scams, hacks, and other nefarious activities, with the decentralized and private nature of many digital assets being conducive to these types of undertakings. The latest group to fall victim to one of these scams is a school within the University of California system, who paid an online gang $1.14 million to gain access to files that were encrypted due to malware that spread throughout their computer system. UC San Francisco Pays Cyber Gang $1.15 Million in Crypto  According to a…