The Financial Stability Board (FSB) has warned that in the future, crypto-asset markets could disrupt the security of financial markets. The organization plans to closely monitor the development. Today, in an update to their previous commentary and reporting on crypto-asset markets, the Financial Stability Board (FSB) released a report titled, “Crypto-asset markets: Potential Channels for Future Financial Stability Implications.” The FSB describes itself as: “[…] an international body that monitors and makes recommendations about the global financial system.” The organization Read more …
Month: October 2018
4 Reasons Why Bitcoin’s Price Could Now Drop to $6K
Bitcoin’s drop to three-week lows today has likely kick-started a bearish move towards the major support at $6,000, technical charts indicate. The leading cryptocurrency fell to $6,252 at 7:15 UTC on Bitfinex – the lowest level since Sept. 19 – and was last seen trading at $6,300, representing a 5-percent drop on a 24-hour basis. The failure to capitalize on Monday’s move above the crucial 10-week exponential moving average (EMA) resistance of $6,998, despite the upside break of a key Read more …
OKCoin to Issue Chinese Yuan-Backed Crypto – Are There Too Many Stablecoins?
In spite of depressed prices and an absence of liquidity and volume in the crypto market, stablecoins, cryptocurrencies tied to the value of a non-volatile asset, have become the flavor of the month. OKCoin Founder Star Xu Announces Chinese Yuan-Backed Crypto OKGroup founder Star Xu, who was reportedly the subject of a Shanghai Municipal Police investigation, recently broke his radio silence on Twitter to reveal his plan to launch a Chinese Yuan-backed stablecoin. Embracing the tide of technology, the launch Read more …
South Korea Remains Firm on ICO Ban Despite Calls for Legality, For Now
The chairman of South Korea’s primary markets regulator has reaffirmed the authority’s initial coin offering (ICO) ban in a top-level meeting on Thursday. Financial Services Commission (FSC) Chairman Choi Jong-ku has told lawmakers during the annual government audit in a parliamentary meeting that the authority will stick to its policy of a sweeping blanket ban on fundraising through initial coin offerings. The official stressed the regulator would continue to take this position despite calls from crypto industry, the startup sector Read more …
Yobit Random Coin Pump, Okcoin USA Stablecoin
Exchanges In recent news pertaining to crypto exchanges, Yobit has announced a “random coin” pump for Oct. 11, the founder of Okgroup has announced Okcoin USA’s plan to launch a stablecoin, and Coinbase’s chief policy officer has predicted that the exchange will attain Japanese regulatory approval by 2019. Also Read: A Bitcoin Rat Is Occupying Wall Street Skepticism on Twitter overAggressive Yobit Campaign Yobit, the shadowy Russian cryptocurrency exchange, has announced an upcoming “Yobit Pump” scheduled for 9 a.m. EDT on Oct. Read more …
Wallet Provider Blockchain Hires Bank Exec for Global Regulatory Push
Crypto wallet provider Blockchain has hired a former bank executive to augment its legal team. Ben Melnicki, formerly Noble Bank’s chief compliance officer, has taken on the position of global regulatory counsel at the Luxembourg-based firm, Blockchain announced Thursday. In his new role, Melnicki will join Blockchain president and chief legal officer Marco Santori in advocating for light-touch regulation for the cryptocurrency space in different jurisdictions around the world. “I’ll be working closely with Marco Santori … on behalf of Read more …
Research: Crypto Whales Are Stabilizing The Market, Contrary to Popular Belief
In both the natural world and the crypto market, whales are seen as colossal creatures that have a profound effect on the environment around them. Since Bitcoin’s rise to fame, a countless number of cryptocurrency investors have claimed that whales have been the primary catalyst behind this market’s unpredictable price movements. But, according to data compiled by one of the crypto industry’s data analysis groups, the whale theory is nothing more than a popular urban legend. Killer Crypto Whales? Think Again. As reported Read more …
Harvard, Stanford, MIT Endowments All Invest in Crypto Funds
Multiple Ivy League and other prestigious U.S. universities are said to have made investments into “at least” one cryptocurrency fund. The report was published by the technology news site Information Wednesday, Oct. 10. Citing an unnamed source, the Information reported that the multi-billion endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology (MIT), and the University of North Carolina had all invested capital in the crypto space. This is “a sign of the asset class’ growing acceptance Read more …
PR: Kibo Lotto Obtains Curaçao Gaming License
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Obtaining the license is certainly an important step in the development of Kibo as the first fully decentralized international platform for lotto games. The license, issued by the regulator on Curacao, opens the door for Read more …
Bitcoin Price Watch: BTC/USD Sellers Not Out of Woods Yet
Key Points Bitcoin price broke the $6,520 and $6,500 supports, and dropped significantly against the US Dollar. There was a break below a short-term bearish flag with support at $6,520 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair declined below the $6,400 and $6,240 support levels to test $6,100. Bitcoin price dropped heavily towards $6,100 against the US Dollar. BTC/USD may correct higher, but buyers are likely to struggle near $6,280 and $6,320. Bitcoin Read more …
Blockstream’s Bitcoin Sidechain, ‘Liquid Network,’ Goes Live
Blockstream on Wednesday announced that Liquid Network — its first Bitcoin sidechain — is now online. This announcement comes after more than a year of beta testing the sidechain on the core Bitcoin network. Liquid Network Goes Live The San Francisco-based Blockstream announced the news via a blog post on the startup’s website. According to the company, Liquid ensures speedy and secure transactions suited to the specific needs of high trading volume entities like brokers, exchange platforms, and financial institutions. Read more …
‘Doctor Doom’ vs Crypto: Here’s What to Expect in Congress Today
Famed economist Nouriel Roubini plans to strike a fiery tone on cryptocurrency and blockchain before a group of U.S. senators on Thursday. Roubini will testify before the U.S. Senate Committee on Banking, Housing and Urban Affairs alongside Coin Center director of research Peter Van Valkenburgh in a hearing entitled “Exploring the Cryptocurrency and Blockchain Ecosystem.” Announced last week, the hearing marks the latest move by members of the U.S. Congress to better understand the emerging technology and asset class. In Read more …