Month: June 2018

Congress is set to consider yet another proposed mandate for a cryptocurrency study, this time in the area of sex trafficking. The House of Representatives Financial Services Committee is introducing a new bill today that, if passed and signed into law, would require the director of the Government Accountability Office (GAO) to open a study on “how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or Read more …

Representatives of the German Federal Government have stated that cryptocurrencies do not pose a threat to financial stability, Cointelegraph auf Deutsch reports today, June 12. Nevertheless, the government sees the need for regulatory measures to control digital currencies. According to the Federal Government, volume of crypto asset transactions is too low compared to the size of the global financial system to pose a serious threat to the current financial system. However, the German government considers it appropriate to closely monitor Read more …

Joseph Lubin spoke at length earlier today about the disruptive potential of blockchain technology. The co-founder of the Ethereum network and blockchain software company ConsenSys was speaking at the MoneyConf in Dublin, the city his company has chosen to open a new office. Lubin: Blockchain Will Be “Orders of Magnitude More Disruptive” Than the Internet To promote the new ConsenSys offices in Dublin, Lubin addressed the financial conference on Tuesday according to Business Insider. There, he spoke about his interpretation Read more …

Economy & Regulation RBI, the central bank of India, has not made a proper effort to thoroughly research the nature and usage of cryptocurrencies before issuing its crypto ban. This is according to a reply sent by the bank to a Right to Information query filed by a lawyer. Copies of the communication have been distributed on social media and published by local crypto outlets. Also read: Pakistanis Find Ways to Trade Bitcoin Rendering Ban Ineffective The Right to Know Read more …

Is creation of a SEC office designated to deal with digital assets a good or bad news for the industry? This is the question that crypto community has been mulling over last week, following the SEC’s announcement of Valerie A. Szczepanik’s appointment to the brand new position of Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for Division Director Bill Hinman. The media have promptly reduced the exuberant title to the likes Read more …

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! A mysterious startup based out of Estonia has filed with the US Securities and Exchange Commission to inform the agency that it intends to raise nearly $200 million through an initial coin offering (ICO). According to public documents filed earlier this month, the firm — NewTech Myning OU — hopes to raise as much as $180 million by selling GoWeb tokens through Simple Agreements Read more …

The Reserve Bank of India (RBI) has responded to a query about why it moved to block banks from dealing with cryptocurrency businesses earlier this year – but the reply isn’t very telling. Shri Varun Sethi, who presents himself as a “blockchain lawyer,” requested clarifications from RBI under the country’s Right to Information Act. According to the answers provided, the decision didn’t result from any kind of special research or deliberation by the regulator. For example, officials aid “no” when asked Read more …

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! The cryptocurrency market has slightly rebounded by about 2 percent, from $290 to $296 billion, as major cryptocurrencies like Bitcoin and Ethereum increased by 1 to 3 percent in value. Still, the market is demonstrating a bearish trend and shorts on exchanges like Bitfinex have surged by large margins over the past week. Bitcoin Shorts on Bitfinex: Chart From TradingView Bear Cycle Over the Read more …

Apple has moved to put a stop to any crypto-mining apps that might be used on its mobile products. In a recent update, the personal computing company expanded its initial guidelines on cryptocurrencies. Before, the guidelines specified apps facilitating cryptocurrency exchange and/or initial coin offerings (ICOs) must comply with all applicable state and federal laws. Now, the guidelines specify more than that. In five bullet points, the guidelines run through Apple’s policy on wallets, mining, exchanges, ICOs, and rewards that Read more …

A Bitcoin trader in Los Angeles, California is facing prosecution for allegedly running an unregistered multimillion dollar Bitcoin-fiat money transmitting business, NBC LA reported yesterday, June 11. Under her pseudonym the ‘Bitcoin Maven’, Theresa Tetley, 50, reportedly earned at least $300,000 annually from her black market business, which ran between 2014 and 2017 via a listing on localbitcoins.com. The U.S. Attorney’s Office has contended that the ‘Maven’ exchanged between $6 and $9.5 mln in the course of her operations. The Read more …