Month: May 2018

Recently expatriated Polish cryptocurrency exchange BitBay tweeted yesterday, May 30, that the Polish Financial Supervision Authority (KNF) has asked them to join a Blockchain Working Group. BitBay suspended operations in Poland this week after banks refused to cooperate with the exchange, in the wake of the Polish government’s increasingly negative stance toward cryptocurrencies. Although BitBay did not directly address whether they would accept the KNF’s invitation, they wrote in yesterday’s tweet that they “are not abandoning  crypto activity for the Read more …

A deputy director for the International Monetary Fund’s Monetary and Capital Markets Department believes that central banks need to offer “better” fiat currencies in order to fend off any potential competition from cryptocurrencies. The suggestions came in an article published Thursday, penned by deputy director Dong He. In that article – which boasts the tagline “Crypto assets may one day reduce demand for central bank money” –  He argues that central banks may want to consider adopting some of the concepts Read more …

The Hong Kong Treasury decided against the notion of creating a central bank digital currency (CBDC) yesterday, but said that they will monitor the situation. Hong Kong is ‘Already Efficient’ Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, said, in a press release, that Hong Kong does not need a CBDC at this time because it already has an efficient payment infrastructure. He did not answer whether or not Hong Kong will recognize cryptocurrencies as legal tender. Read more …

After days of sudden, strong selling, bitcoin has managed to find a local bottom in the low $7000s where it has been drifting around aimlessly. As many traders on Twitter have noted, we have formed a large consolidation pattern called a symmetrical triangle (outlined in red): Figure 1: BTC USD, 1-Day Candles, Macro Symmetrical Triangle Symmetrical triangles are consolidation patterns that are typically agnostic regarding their breakout direction. However, one important thing to note about this consolidation pattern is it Read more …

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Peter Brandt, a prominent trader and respected technical analyst, believes there is no solid evidence to back up claims that whales and large-scale investors have been manipulating the bitcoin price or the wider cryptocurrency market. Not Futures Market Earlier this week, after various reports that the fall of bitcoin’s value coincided with the launch of CME and CBOE bitcoin futures market in December 2017, Brandt said: “Cryptos. Read more …

BitGive — the globe’s first bitcoin-based 501(c)(3) nonprofit — has joined hands with the University of Edinburgh to research and examine the effects of digital currencies on both national and international charities. Both organizations are seeking to develop a stronger, more organized system for allowing charities to accept virtual currency donations. BitGive previously made headlines in October 2017 when it launched its new GiveTrack platform, which uses blockchain technology to clarify and record digital asset donations to global charities. Individuals Read more …

Brad Garlinghouse, CEO of Ripple (XRP), thinks that Bitcoin’s (BTC) influence on cryptocurrency market prices will eventually decrease, CNBC reported yesterday, May 30. Garlinghouse, referring to cryptocurrency as a “nascent industry,” told reporters that “over time, you’ll see a more rational market and behaviors that reflect that,” adding: “There’s gonna be a bit of a correction along the way here where a lot of the players in the space that don’t actually solve a real problem are going to get Read more …

This guest post by Laura E. Jehl was co-written by Robert A. Musiala Jr. and Stephanie Malaska of BakerHostetler. Views expressed are those of the authors and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine. This year, we’re witnessing the convergence, and perhaps the collision, of two powerful new forces in data privacy: the European Union General Data Protection Regulation (GDPR) and the emergence of blockchain-based privacy solutions. As blockchain technology firms continue to build new solutions, here Read more …

German securities marketplace and stock exchange Deutsche Börse will be spending 270 mln euro (around $315 mln) on new tech investments including blockchain, Finextra reported yesterday, May 30. The spending plan, part of the company’s 2020 roadmap which will involve 350 job cuts, will also include big data analytics, cloud, computing, robotics, and artificial intelligence. Deutsche Börse, the ninth largest exchange in the world, notes that the plan also includes the creation of several hundred new jobs in these sectors Read more …

Seattle-based crypto exchange Bittrex has managed to secure a banking agreement that will allow some customers to trade digital assets directly for U.S. dollars. The company has struck a deal with the New York-based Signature Bank amongst others. Bittrex Hope to Attract More Users with Crypto to Fiat Trading Pairs According to a report in Bloomberg, the exchange venue which supports the buying and selling of over 200 different crypto assets will soon be accepting deposits in fiat currency. Unfortunately, Read more …