Day: July 22, 2020

CFTC Seeks Industry Advice on Blockchain Applications

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Not all central bank digital currencies (CBDCs) are created equal, a Georgetown Law Professor said during a Commodity Futures Trading Commission (CFTC) tech advisory meeting last Thursday. A digital currency backed by the Federal Reserve was one of the main topics discussed during the four hour-long remote meeting, organized by the commission’s technology advisory committee (TAC).  Chris Brummer, Georgetown Law Professor and Faculty Director of the Institute of International Economic Law, presented an overview of CBDCs, explaining how one might be designed and issued, on behalf of TAC’s Virtual Currencies…

California Resident Pleads Guilty to Laundering Millions Using Illegal Bitcoin ATMs

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Kais Mohammad, a.k.a. “Superman29,” has agreed to plead guilty to federal charges he ran an unlicensed Bitcoin ATM network that laundered up to $25 million, including funds that originated in criminal activity.  According to a recent press release by the Department of Justice, the Orange County, California, resident is pleading guilty to one count each of money laundering, operating an unlicensed money transmitting business and failure to maintain an effective anti-money laundering program.  Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic…

Market Wrap: Bitcoin Fails to Stay Above $9,400 While Dai Supply Skyrockets

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Bitcoin’s performance the past 24 hours is flat as the world’s oldest cryptocurrency loses ground from Tuesday’s jump to over $9,400. Bitcoin (BTC) trading around $9,378 as of 20:00 UTC (4 p.m. EDT). Gaining 0.05% over the previous 24 hours. Bitcoin’s 24-hour range: $9,276-$9,389 BTC above 10-day and 50-day moving average, a bullish signal for market technicians. Bitcoin trading on Coinbase since July 20.Source: TradingView The bitcoin market is still in bullish territory after yesterday’s move over $9,400, a price not seen in almost two weeks. “Bitcoin is flirting with…

AMFEIX Investors Raise Concerns About Massive Pending Withdrawal Requests

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A number of people who invested in a cryptocurrency company are claiming that the company is scamming its users. The fund in question is called AMFEIX, which promised high-yield monthly returns to its users and supposedly raised more than $60 million in Bitcoin (BTC). At the end of June, Cointelegraph began receiving emails from AMFEIX users who had invested their funds into the project. These users claimed that there have been lots of pending withdrawal requests that have been delayed since May 2020. They also claim that the project’s support…

Most Music Listeners Would Pay for Music with Crypto to Help Artists

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A survey conducted by pioneering digital music store eMusic revealed that most of their service’s users were open to paying with crypto if it allowed artists to earn more. The survey — shared exclusively with Cointelegraph — revealed that 65% of eMusic customers would use cryptocurrency if it was for the aforementioned reasons. It is worth noting that a mere 8% of the respondents had used Bitcoin (BTC) or any other crypto in the past. Per the announcement, 800 eMusic users answered questions about cryptocurrencies and their use in the…

Price Analysis 7/22: BTC, ETH, XRP, BCH, BSV, ADA, LTC, CRO, LINK, BNB

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Many altcoins could pick up momentum If Bitcoin and Ethereum break above key resistance levels in the coming days. Since March central banks have been printing money aggressively in order to combat the economic downturn brought about by the coronavirus pandemic.  Philip Lowe, the governor of the Australian Reserve Bank, has warned against the consequences of unlimited monetary expansion. Lowe said that “there is no free lunch,” and somebody always has to pay for the money printing “in one form or the other.” The European Union has also agreed on…

A Substantial Number of Idle Litecoin Were Moved Suggesting Incoming Volatility

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Litecoin appears to have gained some visibility despite its lackluster price action. The eighth-largest cryptocurrency in the market took the spotlight after Grayscale Investment announced that regulators have given the green light for the sale of shares of its Litecoin Trust to the public. The new FINRA approved stock will trade under the symbol LTCN within the next month. The move is set to provide investors exposure to the underlying asset while avoiding the pitfalls of buying and storing Litecoin. “There will be no trading volume in the Shares’ public…

PFE Up 4%, BNTX Up 10%, U.S. Govt to Pay $1.95B to Pfizer, BioNTech for COVID-19 Vaccine

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The U.S. Government has signed a $1.95 billion deal with Pfizer and BioNTech for their COVID-19 vaccine. The prices PFE and BNTX stocks are moving higher. The United States has agreed to pay Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) $1.95 billion for a safe and effective coronavirus vaccine. Before now, both companies have been working together to develop four potential vaccines for the deadly virus. According to an announcement on the 22nd of July, the U.S. will pay the agreed sum, only after FDA approval. The $1.95…

Why Ethereum Bulls Have Now Opened the Gates for a Move Towards $400

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Ethereum is beginning to flash some signs of strength following its intense movement upwards seen yesterday. Although it remains highly correlated with Bitcoin and the aggregated market, its ability to establish a strong foothold within the $240 region is a positive sign for its short-term outlook. One trader is now noting that the price action seen yesterday has completely altered its trajectory, opening the gates for it to see a movement towards the upper-$300 region in the coming weeks. This price region also coincides closely with the neckline of a…

US Banking Regulator Greenlights Crypto Custody at Federally Chartered Banks

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Per a July 22 announcement shared with Cointelegraph, the Office of the Comptroller of the Currency (OCC) is granting permission to federally chartered banks to custody cryptocurrency. The future of banking with crypto on board This issue has seen much skepticism, given that crypto wallets do not resemble the custody requirements of other sorts of assets. Nonetheless, in its interpretive letter on the subject, the OCC wrote:  “The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers…