Bitcoin recovered yesterday from its lowest since November amid the hearing in the US Senate on cryptocurrency market regulation, where Jay Clayton, chairman at the Securities and Exchange Commission (SEC) and Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC), testified before the Senate Banking Committee. … [Read more...] about A sigh of relief after US Senate hearing on cryptocurrency
Major banks halt bitcoin purchases for its credit card customers
Following major US banks Lloyds Banking Group has banned bitcoin purchase using its credit cards, reports The Guardian. This is the first bank to impose such a restriction in the UK. … [Read more...] about Major banks halt bitcoin purchases for its credit card customers
Japan increases vigilance after a massive cryptocurrency theft
Japanese authorities have cast a severe look at cryptocurrency exchanges after last week’s theft of $530 million from Coincheck. Japan’s financial regulator has announced it will take steps to inspect business practices of trading platforms to make sure they comply with proper security measures. … [Read more...] about Japan increases vigilance after a massive cryptocurrency theft
Leading investors take heed of Telegram
Leading investors from the Silicon Valley have taken interest in Telegram’s ICO. Venture capital funds Kleiner Perkins Caufield & Byers, Benchmark Capital and Sequoia Capital expressed desire to put in $20mln each. During its campaign to develop a new blockchain platform and launch cryptocurrency Telegram plans to raise $1.2bln. … [Read more...] about Leading investors take heed of Telegram
Australia to develop cryptocurrency backed by gold
The Perth Mint, Australia’s biggest precious metals refiner, is developing its own cryptocurrency backed by gold and other precious metals to lure investors to buy gold again. The mint produces nearly 700 tons of gold annually. The move comes as investors rushed after cryptocurrencies channeling investments away from precious metals. By creating new digital money, the agency … [Read more...] about Australia to develop cryptocurrency backed by gold
Davos participants believe in blockchain
With the World Economic Forum taking place in Davos, a number of participants have expressed enthusiasm about the blockchain technology, but remained sceptical about cryptocurrency. … [Read more...] about Davos participants believe in blockchain
Investors are hunting joke cryptocurrencies
Regulators have warned investors about risks of new mushrooming cryptocurrencies. Despite warning signals, investors are diving in, even if such tokens are named after a popular internet meme or contain words like ‘useless’ in their title. A demand for cryptocurrencies that meant to be a joke highlights how overvalued and risky these currencies have become, some analysts say. … [Read more...] about Investors are hunting joke cryptocurrencies
SEC stands in the way of cryptocurrency ETFs
The US Securities and Exchange Commission (SEC) has blocked the way to approving several exchange traded funds (ETFs) whose assets include bitcoin and other cryptocurrencies. The regulators believe such financial products do not conform to rules, aimed at protecting ordinary investors. … [Read more...] about SEC stands in the way of cryptocurrency ETFs