Several financial institutions in Europe, like Danske Bank and Swedbank, have been mentioned in a Lithuanian report investigating large-scale crypto-fiat transactions that took place in the past two years. Some of the banks’ clients traded digital coins worth millions of euros and the Baltic nation’s financial crime combating agency wants to know where the first million came from. Many of the speculators are Lithuanian taxpayers. Also read: Nordic Region’s Largest Bank Nordea Suspected of Money Laundering Speculators Used 7 Banks to Trade Cryptocurrency Worth €661 million The Lithuanian probe covers…
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France Contemplating Regulatory Framework for Cryptocurrency Intermediaries
France is considering enacting the country’s very first regulatory framework governing crypto-asset intermediaries. The move will require fiat-to-cryptocurrency exchanges as well as custodians of cryptographic keys to undergo a mandatory AMF registration. Getting Serious About Cryptocurrencies France is one of the more active members of the European Union when it comes to cryptocurrency regulations. The country introduced its own regulations governing the field of initial coin offerings (ICOs) earlier in September and is now reportedly considering an amendment which would put cryptocurrency exchanges and other entities in the field under…
Read MoreInstitutional Traders Haven’t Rescued Crypto Yet
Throughout 2018’s price slump, investors in digital assets hoped for an influx of institutional investors to rescue crypto prices. Retail investors pinning their hopes on large investors breaking digital assets out of their price slump are beginning to make peace with an uncomfortable fact — the institutional investors are already here. Hedge funds and proprietary trading shops are increasingly becoming some of the largest traders of cryptocurrencies, taking the other side of larger trades in the market. The impact of professional and institutional investors on crypto markets is reflected in collapsing…
Read MoreCoinbase Brings on Charles Schwab Exec to Expand Influence
Coinbase recently announced that a Charles Schwab board member would be joining the exchange’s board of directors. Coinbase is also reportedly looking to close what could be a $500 million deal with Tiger Global. San-Francisco based digital currency exchange Coinbase, long seen as an industry leader, appears to be expanding their financial influence even more. In an October 2nd blog post, Coinbase CEO Brian Armstrong said the company is adding Chris Dodds of Charles Schwab to their board of directors. Dodds currently sits on the board of directors at Charles…
Read MoreRegulations Roundup: Industry Leaders Want Clarity, Alliance Capitals Earns FINMA Warning
In recent news pertaining to cryptocurrency regulations, industry leaders have urged U.S. lawmakers to provide regulatory clarity or risk a crypto firm exodus, a Greek representative to the European Parliament has advocated for a lightweight cryptocurrency apparatus to avoid stifling innovation across the distributed ledger technologies industries, and the Swiss Financial Market Supervisory Authority has issued a warning regarding purported cryptocurrency company, Alliance Capitals. Also Read: North Dakota Issues Orders Against Bitconnect, Magma, Pension Rewards Industry Leaders Warn U.S. Lawmakers to Provide Clarity or Risk Crypto Exodus At a recent regulatory…
Read MoreBitcoin Price Analysis: Is Bitcoin Bottoming out?
Following a steady day of price action around $6,500, Bitcoin price exploded to $6,750. With such a fast move to the upside, we take a look at what’s happening price action going into the weekend. 1-hour Chart After last week’s volatile move to the upside from $6,100, Bitcoin 00 made a higher low at $6,330 early in the week and the Bulls had been attacking $6500 ever since. The Bears eventually gave up yesterday and a fast move to around $6,800 followed after pressure could be seen in the price…
Read MoreDebit Card Issuer Bitnovo Announces Bitcoin Cash Support, as Acceptance Continues to Grow
Bitnovo has launched support for bitcoin cash (BCH). Starting September 27, users of Bitcard and N26 account, both bank-free product offerings from the Spanish cryptocurrency trading platform, will be able to replenish their cards or accounts with BCH. Payments will be supported also. Also read: Pesamill Africa Launches as Kenya’s Latest Exchange Offering P2P And Centralized Trading Users of Bitnovo Bitcard And N26 Account Can Now Use Bitcoin Cash For Top Up And Payments Bitnovo announced today that holders of its Bitcard or N26 account can now top up both…
Read MoreThe Daily: Binance Expands, Putin Advisor Visits Huobi, Brazilian Brokerage Goes Crypto
Cryptocurrency exchange Binance is making good on its promises to expand globally – focusing on emerging markets and fiat-to-crypto trading services. Also in The Daily, Huobi founder and CEO Leon Li meets a Putin adviser in Beijing, a leading Brazilian brokerage firm shares plans to launch a crypto exchange, and digital assets management firm Altonomy caters to institutional investors with an over-the-counter (OTC) trading desk and a cryptocurrency index fund. Also read: Poloniex Drops 8 Coins, New Exchange Licensed in Estonia Binance Expands Across Continents Binance, currently the largest crypto…
Read MoreCrypto-Community Debates Bitcoin Core Bug and a ‘Forced Upgrade’
This week the cryptocurrency community has been discussing and dealing with the critical vulnerability that was found in the Bitcoin Core (BTC) reference client. Many observers are calling the bug one of the worst issues BTC has had in years, comparing the exploit to the March 2013 mandatory hard fork. In fact, in the eyes of many, the network is still vulnerable to massive inflation from an attack that costs a mere 12.5 BTC ($83,000). Also read: Critical Bug Found in Bitcoin Core Invokes the Multiple Client Argument Peter Todd: ‘The…
Read MoreRegulations Round-Up: MAS Official Says Tokens Aren’t Securities, SEC on Bookkeeping Obligations
In recent regulatory news, an official representing the Monetary Authority of Singapore (MAS) has stated that no existing crypto tokens meet the regulator’s definition of a security offering; the chief accountant of the United States Securities and Exchange Commission (SEC) has emphasized the “fundamental” bookkeeping responsibilities of firms operating with cryptocurrencies; and the head of Abu Dhabi’s financial regulator has called on international legislators to “properly regulate” the cryptocurrency industries in order to facilitate greater market participation from mainstream institutions. Also Read: The Daily: Coinbase Denies Self-Trading, Kraken Gets Feisty…
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