Bitcoin (BTC) Bulls Firm Even if BitFinex May Refute NY AG Fraud Claims

Bitcoin price successfully recover Apr-25 losses BitFinex says they are good players in the digital space and would protect their clients from NY OAG attacks Despite Apr-25 blip, BitFinex commitment is unwavering. Concurrently, Bitcoin bulls are resilient, and even with a threatening drop, buyers are back as prices snap back to primary trend. The way BTC shook off bears is suggestive of strong underlying support, and in that case, BTC may easily extend to $6,000. Bitcoin Price Analysis Fundamentals The jumble around Tether, BitFinex and the NY Office of AG,…

Bitfinex, Tether Clap Back at NY Attorney General in Coordinated Defense

By CCN: Within a day of learning it had to cease operating in New York, Bitfinex issued a rebuttal desperately trying to explain it is financially solid. Its letter coincided with one from Tether. On Thursday, New York Attorney General Letitia James obtained a court order to shut down the pair from operating in the state over the loss of $850 million funds through some questionable happenings. Both Bitfinex and Tether claim the Attorney General’s move was in bad faith. Bad Faith Move, We Weren’t Warned In their rebuttals, Bitfinex and…

Bitcoin-Western Union Drug Sellers Nailed in NY, First BTC Money Laundering Case Recorded in Area

Another criminal use case of Bitcoin on the dark web is brought to light, this time in New York, Manhattan Earlier this week, a District Attorney’s Office in Manhattan published a press release, detailing a case of Bitcoin money laundering by drug dealers that used both crypto and Western Union payments for selling illegal substances across the US and abroad. Drugs, Viagra via Bitcoin and Western Union payments The two accused, Crain and Sanchez confessed in court that they had been operating a drug business by accepting payments in Bitcoin…

NY Regulator-Flagged N. Korean Crypto Accounts Were South Korean: Bittrex

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. By CCN.com: Four days after New York State Department of Financial Services’ executive deputy superintendent for banking Shirin Emami disclosed in an op-ed that having North Korean users on its…

Ripple Price Analysis: XRP Bearish Below 40 Cents, NY Ready to Explore

Latest Ripple News Enthusiasts often paint a rosy picture on the burgeoning internet of value claiming it will disrupt and eventually replace centralized set-ups. But before this come to pass, the community understands that education and general awareness is key. It is for this reason that Ripple has so far donated $80 million to various causes. On their part, regulators from around the world are keen on executing their mandate in a world that promise to operate on auto-pilot with systems set to cut-off third parties. As the ecosystem matures,…

“Someone’s Got to Be the Voice of Reason” — Kraken Responds to NY AG Report

The New York Attorney General’s office has pointed a finger at cryptocurrency exchange Kraken for “potential” violation of state regulations. Now, the San Francisco–based exchange is firing back, saying it does not appreciate what it sees as implications of illegality. “Someone has to be the voice of reason,” Jesse Powell, Kraken’s outspoken co-founder and CEO, told Bitcoin Magazine. “If we all accept corrupt practices as the norm, without saying anything out of fear of unlawful retaliation, what the hell are we doing this for?” In April 2018, as part of…

NY Crypto Exchange Report Bearish for Bitcoin ETF Plans

A new report drafted by the New York attorney general’s office (OAG) alleges that a significant number of cryptocurrency exchanges may be vulnerable to market manipulation, a finding that could prove ominous for hopes among investors that federal regulators will approve a bitcoin ETF or other exchange-traded crypto products in the near-term. 3 CME-Partnered Exchanges Flagged by NY Probe Bitcoin, according to Securities and Exchange Commission (SEC) Chairman Jay Clayton, is not a security under federal law. However, an exchange-listed fund that provides investors with exposure to bitcoin would be…

Gemini to issue their own Gemini Dollars Cryptocurrency with NY finance regulators approval

Gemini Trust, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has won approval from New York finance regulators to launch Gemini Dollars, digital tokens pegged in value to the U.S. dollar and transferable on the Ethereum blockchain. The company said it planned to enable customers to swap traditional dollars on deposit in their accounts for Gemini dollars starting Monday morning. The New York Department of Financial Services also approved a similar coin called the Paxos Standard, launched by the Paxos Trust Company, another crypto firm. Paxos Standard also became available Monday.…

Blockchain Trust Company Paxos Launches NY Regulator-Approved, USD-Backed Stablecoin

Blockchain Trust company Paxos has launched a U.S.-dollar backed stablecoin following approval from New York regulators, according to a press release published September 10. Backed 1:1 by the dollar, the Ethereum blockchain-based stablecoin, dubbed ‘Paxos Standard,’ has been approved by the New York State Department of Financial Services (NYDFS), which will exercise regulatory oversight over the asset’s issuance and trading. Paxos itself is a Trust company and is positions itself as “a fiduciary and qualified custodian of customer funds,” pitching its new coin as offering “greater protections” for customer assets…

Former executive deputy superintendent at the NY DFS will head the Virtual Commodity Association

After major virtual currency exchanges joined hands to take the first steps in policing the digital asset markets through a working group, Maria Filipakis, the former executive deputy superintendent at the NY DFS will head the Virtual Commodity Association although at an interim capacity for now. While at the New York Department of Financial Services, Maria was instrumental in drafting rules and regulations for virtual currency which led to the popular BitLicense. This was a disclosed through a press release dated today August 20. Maria has worked with many other…