ECB Tells Banks to Implement Instant Payments in Order to Compete with Bitcoin

Banks and financial institutions might need to embrace instant payments and bank transfers in order to be able to compete with Bitcoin and other cryptocurrencies. Competing with Cryptocurrencies One of the main reasons why cryptocurrencies have gained such popularity is their ability to instantly send payments worldwide cheaply and quickly – usually within a couple minutes. Banking transfers currently require 2-3 days to process and often times are more expensive than Bitcoin transfers. Many experts believe that this might push more Read more …

Goldman Sachs CEO Open to Considering Bitcoin Trading Once Currency Becomes Established

Goldman Sachs’ CEO Lloyd Blankfein has been one of the most open-minded Wall Street CEOs on Bitcoin. He isn’t a Bitcoin bull like Michael Novogratz; but neither has he derided the currency as has JP Morgan Chase CEO Jamie Dimon. In fact, Blankfein has even pointed out that people distrusted paper currency when it was first introduced and later accepted it. The implication of his statement is that Bitcoin could become an acceptable means of exchanging value in the future, Read more …

Fed Vice Chair: Cryptocurrencies Threaten Financial Stability

Digital currencies may pose a threat to financial stability as they gain popularity, said U.S. Federal Reserve vice chairman for supervision Randal Quarles. Speaking at the 2017 Financial Stability and Fintech Conference on Thursday, Quarles warned against the rise of cryptocurrencies, saying private decentralized currencies could have “spillover effects” on the broader financial system if they grow too big. Their volatility, and the fact that they are not backed by any institution or physical assets, make them difficult to get a Read more …

This Week’s All-Time High Brings Massive Bitcoin Exchange Outages

News November 29 was an exciting day if you were watching bitcoin prices swing back and forth with quite a bit of turbulence. The price of bitcoin touched an all-time high of $11,395 across global exchanges. Then, about an hour or so later, the price went down hard to a low of $9250 on some trading platforms. Although some exchanges had significant operational issues according to upset customers, the Down Detector, and the trading platform’s own website Read more …

SelfKey Will Greatly Aid the Expansion of the FinTech Sector

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. The FinTech (short for Financial Technology) sector is one of the more promising “up and comers” in the technology industry. Not only have FinTech companies showed some positive signs this year, but the sector in the global sphere is meeting Read more …

Blockchain-Based Ticketing Company GUTS Raise $2.5m in First Hours of Token Sale

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Secondary ticket sales has always been a thorny issue for events happening around the world. What happens is that opportunists book the tickets online using bots in a pre-meditated frenzy and then sell them on the black market for a Read more …

Bitcoin Price Analysis: A Potential Correction Could Be Coming

The market is swinging to more and more aggressive highs as bitcoin has traversed down the length of the macro, parabolic bull market. In a very rare event, bitcoin actually managed to break the upper parabolic curve and squeeze out a new all-time high in the upper $11,000s:Figure 1: BTC-USD, 1-Day Candles, Macro Parabolic TrendAlthough bitcoin broke the parabolic trend on the smaller timescales, the chart above shows that bitcoin is still being governed by the parabolic resistance — an Read more …

China’s Financial Channel Reports Huobi Violates Spirit of PBOC’s Document

Regulation China’s Financial Channel (CCTV-2) aired a special bitcoin documentary this week to analyze reasons behind the recent price rally. The program invited Li Cangyu, financial columnist and Wan Zhe, chief economist at China National Gold Group Corp. as commentators who believe that Huobi has undoubtedly violated regulations on cryptocurrency services.  Also Read: South Korea Outlines Proposed Legislation for Cryptocurrency Exchanges Does Huobi Violate the Spirit of the PBOC’s Document? Earlier this November, CCTV journalist reported that many OTC Read more …

Libra Just Made It Easier For Exchanges To Remain Tax Compliant

As Bitcoin breaches fresh all-time highs, compliance with the tax authorities becomes a confusing, yet key, priority for anyone booking profits.  The Tax Man Cometh With Bitcoin having broken the $10,000-mark yesterday and currently sitting just shy of that level as of the start of play on Thursday, many holders will be considering cashing out some of their portfolios and converting it to fiat so as to book profits on their longer-term coins. Sure, the longer term hodlers will denounce the necessity to Read more …

A Potential Correction Could Be Coming

The market is swinging to more and more aggressive highs as bitcoin has traversed down the length of the macro, parabolic bull market. In a very rare event, bitcoin actually managed to break the upper parabolic curve and squeeze out a new all-time high in the upper $11,000s: Figure 1: BTC-USD, 1-Day Candles, Macro Parabolic Trend Although bitcoin broke the parabolic trend on the smaller timescales, the chart above shows that bitcoin is still being governed by the parabolic resistance Read more …

ICE Agent: Cryptocurrencies Increasingly Used in Money Laundering

Criminal organizations are increasingly using digital currencies to launder money or otherwise pay for illicit activities, according to one U.S. Immigration and Customs Enforcement agent. Child exploiters, drug smugglers, illegal firearm sellers and intellectual property rights violators are all beginning to use cryptocurrencies for their transactions, said Matthew Allen, ICE’s special agent in charge of Homeland Security Investigations (HSI). Allen testified to the Senate Judiciary Committee on modernizing anti-money-laundering laws to limit both laundering and terrorist financing on Nov. 28, explaining Read more …

Almost Half of ICO Funding Goes to Europe, Report Finds

Startups in Europe raised more capital through initial coin offerings (ICOs) in the last three years than any other region on the planet, according to a study released Thursday. More than a third of all ICOs – 40% – are based in the European Union (EU), according to the analysis by venture capital firm Atomico. These 446 transactions raised $1.76 billion, nearly half (46%) of the worldwide total from token sales. The second biggest region for this activity was North America, with Read more …