Category: Cryptocurrency News

In early October 2019, Ohio suspended its program for collecting business taxes using bitcoin due to regulatory issues. Nevertheless, there is a significant, growing trend in using the world’s premier cryptocurrency for tax payment purposes in multiple jurisdictions around the world. In November 2018, State Treasurer of Ohio Josh Mandel launched a project to allow businesses to pay their state taxes using bitcoin, leveraging a portal powered by BitPay, an Atlanta-based payment processing firm. The project was going steadily, albeit Read more …

A consortium of firms including CoinShares and Blockchain has launched a gold-backed token dubbed the “digital gold” (DGLD) token to be secured on the Bitcoin blockchain. In development for about two years, the DGLD network launched on October 15, 2019, with a supply reported to be backed by about $20 million worth of physical gold, stored in the vault of Swiss-based custodian PAMP. The Ocean Bitcoin Sidechain, MainStay and Tokenizing Gold The bullion has been tokenized on the Ocean Bitcoin Read more …

The U.S. Securities and Exchange Commission (SEC) is again soliciting comments on a proposed exchange-traded fund (ETF) based around bitcoin and Treasury bonds. According to a public filing published Tuesday, investment management firm Wilshire Phoenix and NYSE Arca filed an amendment to their ETF proposal earlier this month to address issuance and redemption for the securities and the listing/trading of the fund’s shares. Coinbase Custody will act as the custodian for the bitcoin held by the trust, according to the Read more …

Following the news that the US SEC has denied yet another Bitcoin ETF last week, analysts have weighed in on the likelihood of such a product being launched for the crypto asset in the near future. Todd Rosenbluth, of the financial research firm CFRA, believes we could be waiting a good while longer for the regulator to give a green light to any BTC ETF proposal. The SEC has concerns about Bitcoin market manipulation and fraud. It has cited very Read more …

Tuesday, Oct. 15 — Bitcoin (BTC) has continued to trade sideways for most part of the day, while taking a sudden dip in recent hours. Market visualization. Source: Coin360 The world’s most popular cryptocurrency traded flat for the better part of the last 24 hours, with an intraday high of around $8,400. In the last couple of hours, BTC took a sudden dip to under the $8,200 price mark, showing a loss of more than 2% on the day. Bitcoin’s average Read more …

Bitcoin has been stuck in a period of consolidation for the past several days and weeks, which has proven to be a positive thing for altcoins, as many have been able to post decent gains over the past few days. It is important to note that analysts do anticipate altcoins to potentially consolidate for many more months before the prophesized “altseason” kicks off, but there is a possibility that they will see a decent sized uptrend in the short-term. Altcoins Read more …

Determining Bitcoin’s value and its trend is not an easy task. However, some experts and crypto traders believe that by analyzing BTC’s network activity, they can establish the cryptocurrency’s value. Travis Kling: “Network value should be a function of network activity.” Stock analyst and traders have at their disposal various indicators originated from financial statements, earnings reports, and economic analyses to determine the value of the stocks. Additionally, they can also use an array of technical indicators that show the Read more …

Ford is giving a little more road to a blockchain pilot program aimed at improving fuel efficiency. On Tuesday, the auto-giant said it will use blockchain to monitor and automatically implement fuel efficient driving modes for a fleet of vehicles in Cologne, Germany. This is part of a wider pilot program also happening in London and Valencia, Spain. In collaboration with the City of Cologne, Ford outfitted 10 plug-in hybrid electric vehicles with cellular modems that enable geofencing. As the vehicles Read more …

At the beginning of October, a story released by CNN claimed that a student affiliated with the University of Michigan attempted to hack into West Virginia’s blockchain-based voting system called Voatz. As per the report, the FBI is now actively investigating the matter and is looking to authenticate the veracity of these claims. Voatz is a smartphone-based app that was used by the West Virginia government last year to collect ballots from its citizens that were either living overseas at Read more …

Bank of England governor Mark Carney has defended Facebook’s choice to create a new currency. Canadian news outlet TheStar reported Carney’s remarks on Oct. 15, noting that he highlighted the shortcomings of the current traditional financial system. Because of the inefficiency of the payments, Carey thinks that firms like Facebook should be involved in projects like Libra. The current payments industry is lacking More precisely, he reportedly criticized the high costs of moving money, saying that they penalize small businesses Read more …

Is the current industry landscape, where centralized exchanges dominate cryptocurrency trading volumes, about to change in the coming years? Europol predicts that international regulatory demands for identity verification on established venues will push privacy concerned traders into so-called ‘criminal’ services in the digital underground. Also Read: Berlusconi Admins Disappear — Darknet Users Rush to Find Alternatives Europol Investigates Cyber Crime of the Future The European Union Agency for Law Enforcement Cooperation (Europol), formerly known as the European Police Office and Read more …

Bitcoin critic Nouriel Roubini, aka Dr. Doom, hasn’t changed his mind on the utility and intrinsic value of cryptocurrencies. Speaking today at the blockchain and AI-oriented CC Forum in London, he said that most of the cryptocurrencies are volatile and cannot store value. Roubini Vs. Roger Ver In a debate with Bitcoin Cash promoter Roger Ver, Roubini said that nobody was really using cryptocurrencies as a means of payment. He praised money transfer services like PayPal, and VISA, saying that Read more …