Even though the cryptocurrency industry is not new to ups and downs, 2019 has turned out to be the year with the most surprising reveals. The long-lasting bear market of 2018 moved market analysts to call it the year of regulatory reckoning, leaving many jurisdictions uncertain about how to treat cryptocurrencies. However, 2019 also turned out to be the year of the comeback, as big tech giants like Facebook moved from banning crypto to embracing it. Escalating global events such Read more …
Cryptocurrency exchange Poloniex has forced a password reset for all customers due to a leaked list of email addresses and passwords on Twitter. On Dec. 30, the exchange emailed its customers to inform them that a list of leaked email addresses and passwords could potentially be used to log in to Poloniex accounts. The exchange forced a password reset on any email addresses that have an account with the exchange. The email reads: “While almost all of the [leaked] email Read more …
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced. Also read: Poles Hit With Backdated Tax on Crypto Trades Bithumb to Challenge the Move Which Lacks Legal Grounds In what has been described by Korean media as the first such attempt by the government in Seoul, Read more …
Bitcoin (BTC) miners in the Chinese province of Sichuan are reportedly under pressurelocal authorities to scale down their operations due to electricity shortages. On Dec. 29, the Asia Times reported that during the dry season, which extends from October through April, the electricity supply drops drastically in Southwest China, which is why local authorities are tightening the screws on mining companies to scale down their operations. Bitcoin farms tolerated during wet seasons only Bitcoin mining companies are officially prohibited but Read more …
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is planning to release guidance on blockchain for companies looking to deploy the technology. As The Wall Street Journal reported on Dec. 27, COSO — an initiative to fight corporate fraud — is working on guidance on blockchain to give a better understanding of the tech for businesses that aim to integrate it into their internal processes. COSO expects to release the guidance in the first quarter of 2020. To Read more …
Despite the lackluster price action seen by Bitcoin over the past several days, Ethereum (ETH) has been able to climb back above its previous resistance level at $130 and find some decent buying pressure at this price region, which has come about after an extended period of trading sideways just above its key support level at $125. Analysts are now noting that the Ethereum bear market could be firmly in the past, although this may not mean that a massive Read more …
Users of IOTA, the 24th biggest cryptocurrency by market cap, were unable to confirm transactions for 24 hours due to a mainnet incident on Dec. 29. According to an official statement on the issue, the IOTA network experienced a mainnet incident that began at 2:50 AM UTC on Dec. 29, and was fully resolved by 2:50 AM UTC on Dec. 30. The incident was caused by an unusual set of transactions that may have been constructed as an attack As Read more …
For years now, Bitcoin investors have been saying that once the money managers and institutional investors of the world take up positions in in the crypto asset, the price will soar to levels currently unthinkable. However, such an influx of capital is yet to occur. For at least one digital currency analyst, this is “odd”, particularly given how different stocks perform for investors. Meltem Demirors says that investments should be made based on people’s perception of the future and that Read more …
Katherine Wu was a founding team member at Messari before moving into a VC role at Notation Capital, but is perhaps best known in crypto for her epic annotations of key regulatory enforcement actions. In this end-of-year interview with The Breakdown, Katherine argues that decentralized finance is the narrative of 2019, but also that when it comes to 2020, the emergence of a Chinese digital yuan is likely to have a huge impact on the crypto space. Disclosure Read More Read more …
After having been denied bail on Dec. 26, Ethereum foundation researcher Virgil Griffith has now been released on a $1 million bond on the condition that he stay out of California. On Dec. 30, the Inner City Press reported that the 36-year-old Griffith has been released after a bail appeal hearing earlier today. The hearing took place in front of United States District Court for the Southern District of New York Judge Vernon S. Broderick, who granted a $1 million Read more …
Yesterday proved to be a positive day for many cryptocurrencies, as Bitcoin’s fleeting rally allowed most major altcoins to post gains of 3% or more. XRP, which has been struggling to gain momentum over the past few days, attempted to break back into the $0.20 region, although the resistance at this level proved to be insurmountable. Analysts are now noting that XRP could once again test this level and see some decent gains against its Bitcoin trading pair, but the Read more …
Advertisment REDWOOD CITY, California, — The BANKEX team has launched TEX – Telegram Token Exchange technology platform. It’s a token exchange engine that’s natively built into Telegram messenger. The Exchange displays and matches all trading orders for trades made with MainWallet ecosystem. The operating principle of TEX exchange is very simple and can be used with […] TheBitcoinNews.com – Bitcoin News source since 2012 Virtual currency is not legal tender, is not backed by the government, and accounts and value Read more …