Cryptocurrency
For the first time since Nov. 24, 2017 and mere weeks after hitting almost $20,000 in December 2017, one Bitcoin has a trading value of well under $7,000. Bitcoin’s volatile but steadily declining trading value is sparking new investor fears of an imminent bursting of a Bitcoin speculation bubble. For frenzied speculators, the sky seemed to be the […]
Switzerland, long the center of banking secrecy for the world’s rich, is taking proactive legislative steps to integrate Bitcoin and other cryptocurrencies into everyday banking, finance and trading transactions within the country. Johann Schneider-Ammann, the Swiss Economics Minister, recently said at a cryptocurrency conference in St. Moritz that Switzerland will become a so-called “Crypto-Nation.” Schneider-Ammann […]
The focus for most people is on the price of Bitcoin, yet the underlying blockchain technology is poised to disrupt industries on a broad scale. Case in point: Netflix. In a blockchain, computers all around the world work together in a peer-to-peer network to complete a shared task, alleviating the need for a server or centralized […]
Discover Card is the latest credit card provider to announce it won’t allow its users to buy cryptocurrencies, ICOs or tokens with its cards, affecting over 44 million customers. “It’s crooks that are trying to get money out of China or wherever. Or if someone steals our credit card numbers they’re going to ask for […]
Stephen Poloz, the governor of Canada’s Central Bank, spoke out against Bitcoin trading and declared all Bitcoin investing “gambling.” “Beware,” of cryptocurrencies, Poloz said. “It’s much closer to gambling than investing,” he said. Poloz objected to Bitcoin being labeled as a currency or even an assets. Virtual coins “are crypto but they are not currencies.” “I’m […]
South Korea Finance Minister Kim Dong-Yeon says the government has no plans to shut down cryptocurrency trading. This comes after months of speculation regulators would mimic China’s total ban. Questioned by a lawmaker on the government’s plans to regulate the market, Dong-yeon said “there is no intention to ban or suppress cryptocurrency (market). Regulating exchanges […]
The U.S. regulator of the derivatives market has sent subpoenas to two of the world’s largest cryptocurrency platforms. The Commodity Futures Trading Commission (CFTC) sent subpoenas on Dec. 6 to Bitfinex, a cryptocurrency exchange, and to Tether, a company that issues a virtual currency, according to an anonymous source cited by Bloomberg News. It has not […]
The U.S. Securities and Exchange Commission took unprecedented enforcement action to stop what it calls fraudulent public offerings of cryptocurrency coins. The SEC got a court order freezing $600 million of proceeds that Dallas, Tex.-based AriseBank raised from sales of its purported “AriseCoin” cryptocurrency in an initial coin offering (ICO). “This is the first time […]
Facebook will ban all ads that promote cryptocurrencies, including Bitcoin, to prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices.” “This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices,” wrote Rob Leathern, one of Facebook’s ad […]
Cryptocurrencies, and Bitcoin in particular, are subject to “massive” corrections, warns Axel Weber, chairman of the international Swiss bank and financial services corporation UBS Group. According to Weber, continued cryptocurrency market volatility and a startling and steady devaluation since late 2017 suggest speculator overvaluation of Bitcoin. Priced at $20,000 in December 2017, Bitcoin is now valued at […]
