Iran’s Central Bank Figure Hints Cryptocurrency Ban Will End
Iran will likely reverse its cryptocurrency ban in September, a central bank official told a conference August 26, paving the way for official regulation in the country. The country, which introduced a blanket ban on trading in April this year, has since seen economic turmoil return to its economy in light of fresh US sanctions, […]
It’s Getting Harder to Pump Up Prices in Cryptocurrency Markets
It’s getting hard to pump amid the dump in the $209 billion cryptocurrency market,Bloomberg reports August 24. At least that appears to be the case when you look at Tether, one of the most-traded digital assets and also one that’s allegedly been used to manipulate the price of Bitcoin. Over half a billion dollars of Tether […]
Bitcoin in December: $30,000
Yesterday, Fundstrat’s Tom Lee has reaffirmed his $30,000 Bitcoin price target by December. But, other permabulls are not as optimistic as Lee about the short-term trend of Bitcoin. In May, BitMEX CEO Arthur Hayes stated that he would like to see the BTC price fall to the $5,000 region before recovering and initiating a 2017-esqe […]
Japan’s Financial Regulator Wants Crypto Industry to ‘Grow Under Appropriate Regulation’
The commissioner of Japan’s financial regulator the Financial Services Agency (FSA) said that the agency wants the cryptocurrency industry to “grow under appropriate regulation,” in an interview with Reuters August 22. Toshihide Endo, commissioner of Japan’s FSA, told Reuters he sees the agency’s goal for developing the crypto industry as finding a “balance” between consumer […]
US Border Officials to Test Blockchain
U.S. Customs and Border Protection (CBP) plans to trial blockchain technology to verify North American Free Trade Agreement (NAFTA) and Central American Free Trade Agreement (CAFTA) certificates. CBP Division of Business Transformation and Innovation head Vincent Annunziato said the agency was beginning a “live fire testing” of a blockchain platform to certify that imported products […]
Salary Systems to Petro Cryptocurrency
Venezuela is set to begin using its “petro” cryptocurrency as an official accounting unit, according to the country’s president. ABC International reported the development on Tuesday, citing a televised announcement by President Nicolas Maduro, who first unveiled the petro back in December. As part of the change, the state oil and gas company Petróleos de […]
BITMAIN IPO MAKES CRYPTO INDUSTRY UNEASY
Cryptocurrency mining giant Bitmain continues to gain attention over its initial public offering (IPO) as critics raise the alarm over its financial outlook. As bitrix.fi reported at the end of July, the manufacturer announced its plans to hold a $14 billion IPO before the end of 2018, having achieved Q1 profits of over $1 billion. […]
Crypto Millionaire Lost 5,500 Bitcoins in Alleged Investment Scam
A 22-year-old cryptocurrency millionaire has lost more than 5,500 bitcoins in an alleged investment scam in Thailand – one that drew public attention due to the alleged involvement of a Thai film actor. According to a media report from Bangkok Post on Monday, a group approached and solicited Finnish businessman Aarni Otava Saarimaa in June […]
Keep Your Hands Off Cryptocurrency, Economist Tells World Governments
Prominent economist and editorial director of the American Institute for Economic Research (AEIR), Jeffrey Tucker, has urged governments and central banks around the world to let go of the idea of creating state-backed cryptocurrencies and instead focus on the soundness of the fiat system and the banking system. “Leave Crypto Alone” In an editorial published […]
Facebook’s David Marcus Quits Coinbase to Avoid ‘Appearance’ of Conflict of Interest
Facebook blockchain head David Marcus announced he was quitting his position on the board of U.S. cryptocurrency exchange Coinbase Friday, August 10, in a statement seen by various media outlets. Marcus, who joined the exchange’s board in December 2017 and took on a blockchain research group at Facebook in May, said he now thinks it […]
50% of Americans Willing to Try Out Bitcoin
A new poll conducted by analytics firm Harris Insights and cryptocurrency startup Gem revealed that 50 percent of the respondents are inclined to try out the asset class. The survey also revealed that those with lower incomes are more likely to buy Bitcoin. A new survey jointly held by a cryptocurrency startup and analytics company […]
Y Ventures Group Becomes First to Launch an ICO in Singapore
An e-commerce platform that recently launched a token sale aimed to raise $50 million has become Singapore’s first public firm to hold an ICO. Y Ventures Group, which went public on the Stock Exchange of Singapore last year, announced a plan for creating a blockchain-based e-commerce system in July and sent the sale of its […]
The India Government to Consider Allowing Crypto Tokens
The government is considering launching crypto tokens for financial transactions in the country, even as the existing ban on cryptocurrencies is likely to continue, sources said. A committee studying the use of crypto assets is working on a set of regulations, and specific actions, including a roadmap for allowing cryptocurrencies in future, local news outlet DNA […]
Iranian Hackers Developing Ransomware for Bitcoin
As the US gets ready to impose sanctions on Iran, hackers in that country are working on ransomware to secure bitcoin, according to cybersecurity experts interviewed by The Wall Street Journal. Accenture PLC’s cybersecurity intelligence group has followed five Iranian built ransomware variations in the last two years. The hackers are hoping to secure payments […]
Vitalik Buterin: Decentralized Exchanges Should Lead The Way
During an interview at Tech Crunch Sessions: Blockchain 2018, Ethereum Founder, Vitalik Buterin hoped “centralized exchanges burn in hell as much as possible” as he strongly advocated for the use of decentralized cryptocurrency exchanges. Vitalik’s fiery comments stemmed from his annoyance towards centralized exchanges wielding “stupid king-like power” as they have the power to dictate […]
BITMAIN GOES WEST
Who would have imagined that cryptocurrency mining would be the key to making a former coal mining town in America great again? That’s exactly what is happening in Rockdale, Texas, a small Central Texas town of 5,861 that has endured economic troubles since the last coal-fired power plant and mine closed in January 2018. According […]
Korean Police Raid Firm in Fraud ICO Probe of $130 Billion Shipwreck
South Korean police have raided the office of the company that claims to have discovered the shipwreck of a Russian pre-World War 1 battleship carrying $130 billion in gold bars and coins. On Tuesday, the Seoul Metropolitan Police Agency has raided the offices of Shinil Group, a cryptocurrency startup looking to sell treasure from a […]
Ethereum Celebrates its Third Birthday, a Look at its Past and Future
The Ethereum network has grown to be the second largest blockchain platform behind Bitcoin in a mere three years, all while changing the industry and allowing for new developments to be built on its blockchain network. The relatively young cryptocurrency grew at a rapid pace, and some analysts even expect it to outgrow Bitcoin in the […]
