Facebook’s Libra Faces a Strong Negative Reaction by Legislators

The much-talked Libra coin is already facing political backlash, thanks to Facebook’s repeated and ongoing violations of ethical obligations and user trust. One of the lawmakers in the US has urged the company to suspend its plan to implement its native cryptocurrency until the Congress has the opportunity to determine whether there are any potential risks associated with it, according to a report published by The Verge on June 18. In a move that could potentially shake up the aging Read more …

Bitcoin Unfazed by Facebook, Why Further Gains Are Likely

The crypto sphere has been awash with commentary on Libra this week. It has dominated mainstream and crypto media to such an extent that most are already sick of it. Bitcoin and crypto markets are completely unfazed though and continue to inch higher. Over the past 24 hours BTC has regained its composure and hit an intraday high of $9,350. The 2 percent pump came in early hours trading on Asian markets following a day or so of consolidation. There Read more …

Italy’s Banking Sector Will Boost Reconciliations With Blockchain

The Italian Banking Association (ABI) will deploy blockchain technology to run reconciliations beginning March 2020, Finextra reported. The first use of the blockchain among Italy’s banks will integrate distributed ledger technology in interbank processes to accelerate settlements. The move is part of the Spunta Project, a program managed by ABI Lab, the association’s research and innovation arm, to improve transparency and efficiency of communication between banking counterparts. The banking consortium also aims to enact daily rather than monthly reconciliations. The Read more …

QuadrigaCX Co-Founder Used User Deposits for His Own Trading, Created Fake Accounts

The deceased owner of the now-defunct Canadian crypto exchange QuadrigaCX was allegedly transferring user funds off the exchange and using them as a security for his own margin trading on other platforms. The news was revealed in the fifth report from court monitor Ernst & Young (EY), filed on June 19 with the Supreme Court of Nova Scotia. EY has outlined its principal concerns in relation to the exchange, noting that its operations were “significantly flawed from a financial reporting Read more …

Big Four Australian Bank Fears Facebook’s Crypto Libra

Published: 20/06/2019 03:21 ET. Journalist: By CCN Markets: Facebook’s foray into cryptocurrencies with Libra has met with a ton of mixed reactions. While some are going gaga over the social media giant’s latest effort that’s supposed to enable cross-border payments at the tap of a button, the traditionalists are taking a dim view. Governments across the globe are calling for strict scrutiny and regulation of Libra, but there’s one category of people who are really afraid of what Facebook’s cryptocurrency Read more …

Blockchain Based Crowdfunding Bridges Gap Between Global Investors and Business

The way in which global business owners and shareholders engage continues to adapt to changing market forces, technologies and fiscal appetites, however, the need for strong, stable and transparent investment processes remains key to the success of any project. With counterparties often frustrated by a lack of transparency and accessibility, the need for a platform that bridges the gap between investor and investee is increasingly important. Introducing the iOWN Platform – the Blockchain Powered Investment Platform Whilst it is true Read more …

Altcoins Get Eaten as Bitcoin Cranks Higher

Crypto markets remain sideways; Only Bitcoin has moved, XLM and BNB dropping, Monero rising slowly. Crypto markets have inched backup a little today as Bitcoin makes another push towards resistance in the mid $9.5ks. BTC is still clearly in the driving seat and altcoin gains are marginal in comparison. Total market capitalization is back above $285 billion and heading towards a new 2019 high. Following a day or two of consolidation Bitcoin broke out again in a one hour spike Read more …

Facebook’s Libra Will Primarily Be Used to Buy Bitcoin, Says Fundstrat

There has been no shortage of opining over Facebook’s foray into crypto this week. Most industry heavyweights are in agreement that Libra is about as far from bitcoin as the greenback is, but the new digital offering will have an impact on the crypto scene, and it may not be that bad. So What Do *You* Think About Libra? Everyone from grandmothers to William Shatner has commented on Libra since Zuckerberg et al released the details earlier this week. Crypto Read more …

LINE’s Crypto Exchange Could Win Japan License This Month, Report Says

Japanese messaging giant LINE may soon be able to open a cryptocurrency exchange for users based in the country, according to a report from Bloomberg. LINE is close to winning a crypto exchange license from the Japanese Financial Services Agency (FSA), which could issue the approval as early as this month, the news outlet reported on Thursday, citing sources familiar with the matter. With that regulatory clearance, LINE would be able to launch the platform – called BitMax– in a few Read more …

Binance Coin (BNB) Likely To Retrace In Days Ahead, Capped at $38

Binance Coin (BNB) steady The road to compliance demands aligning with regulators’ needs. The loss of US clients is a blow to Binance and BNB. However, the decision will be beneficial in the long term as Binance restructure, leaning towards regulatory compliance. From the charts, BNB is stable. Nonetheless, it is the second worst performing digital asset in the top 10. Binance Coin Price Analysis Fundamentals There is a transition going on in Binance. Known for their aggressive expansions, Changpeng Read more …

These Websites Help You Shop With Major Retailers Using Cryptocurrency

Cryptocurrency users are often forced to convert their coins to fiat in order to purchase items from leading retailers and ecommerce platforms such as Walmart and Home Depot, Amazon, Aliexpress, and Ebay. The hesitation of these merchants to embrace crypto payments has created a niche that’s being occupied by online businesses that are bridging the gap. They take care of your order, arrange the shipping and are willing to accept your electronic cash. Also read: Latin America and Turkey Have Read more …

Mass Regulation Before Mass Bitcoin Adoption

Published: 20/06/2019 02:34 ET. Journalist: By CCN Markets: As expected, the US government has an interest in Facebook’s Libra project. The biggest regulatory organization in the world is sure to take notice when the world’s largest social network moves into the world of banking and personal finance. Suddenly, Blockchain is Legitimate Facebook’s aims are from limited to the US, however, and their cryptocurrency will be backed by a “basket” of assets including the dollar. In effect, during times of turmoil, Read more …