Monday’s judgment in the legal tussle between the New York Attorney General (NYAG) and Bitfinex might have some short-term effect on the Bitcoin price. All Eyes on Monday’s Trial Outcome As previously reported by Bitcoinist, the Supreme Court of the State of New York will resume hearing on the case between the NYAG and bitcoin exchange platform Bitfinex on Monday (July 29, 2019). A negative outcome for iFinex — the parent company of Bitfinex, could potentially open the exchange and Tether up to more lawsuits. The NYAG is accusing Bitfinex…
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Fortnite and Gaming Industry is ‘Massive’ For Crypto
Cryptocurrency will gain significantly from playing a role in online gaming, one of the industry’s best-known investors has forecast after Fortnite World Cup concludes. Fortnite and Gaming Are ‘Very Bullish’ Commenting after the culmination of the Fortnite World Cup event in New York, Travis Kling, founder and CIO of cryptocurrency asset manager Ikigai, said it was only a matter of time before the “huge” cash flows in gaming made their way into crypto. Fortnite, a battle royale-style game created by studio Epic Games, completed its international competition on Sunday. The…
Read MoreRipple CEO Praises Central Banks in US Congress Open Letter
Ripple, the entity notionally behind cryptocurrency XRP, has asked US lawmakers for more advantageous regulation, saying it is “serving the greater good.” Ripple Wants To ‘Serve Greater Good’ In an open letter to Congress ahead of a fresh hearing on crypto and blockchain policy July 30, CEO Brad Garlinghouse requested politicians not apply a one-size-fits-all approach to the industry. He summarized, We urge you to support regulation that does not disadvantage U.S. companies using these technologies to innovate responsibly, and classifies digital currencies in a way that recognizes their fundamental…
Read MoreSmall Nations Are True Pioneers Of Cryptocurrency Regulation
Whilst cryptocurrency regulation presents a huge headache to certain countries, it presents a huge opportunity to others. But how can a single asset class produce such polarised responses? Could it simply be down to ‘state of mind’? Missing The Point On the eighth day, Satoshi Nakamoto created Bitcoin… and very few people even noticed. Throughout the early years of its existence, it gradually began to amass followers through word of mouth. But it was still considered the niche domain of the geek, and nothing for authorities to devote resources to.…
Read MoreLitecoin Price Analysis: Bullish Divergence Spotted on LTC/BTC
Bullish divergence has become visible on the 4 hour chart as Litecoin consolidates within a tight range. This is the result of the previous breakout mentioned in a recent analysis. Litecoin 4 Hour Chart Analysis On the 4 hour LTC/BTC chart, we can see a bullish divergence evident by the three higher highs on Maxx Momentum. This is creating a clear uptrend in conjunction with the three lower lows within the descending wedge. Since then, price levels have broken to the upside and are now consolidating within a tight range…
Read MoreBitcoin Bears Grow in Strength and Eye New Lows
The bitcoin price correction appears to be deepening as the bears ramp up the pressure and the selloff continues. There has been no attempt at recovery from the weekend rout that resulted in BTC losing another thousand dollars. Bitcoin Flash Crashed But Remains Flat Aside from one extended wick in a flash crash on the hourly chart touching $9,120, bitcoin has remained flat for the past 24 hours. Following the big dump on Saturday BTC has consolidated around the $9,450 level and is currently trading at 00. It is currently…
Read MoreCalls Intensify for Indian Government to Regulate Cryptocurrency
Since the Indian government unveiled a draft bill to ban cryptocurrency, the crypto community has ramped up its efforts to influence the government’s final decision. The community has plans to reach out to parliament members to show them how flawed the crypto recommendations the government is examining are. Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments Fighting ‘Flawed’ Crypto Report Ever since India’s Ministry of Finance released the long-awaited crypto report including the draft bill to ban cryptocurrencies, the Indian crypto community has…
Read MoreAustralia Wants To Limit Cash Payments Not Cryptocurrency
Draft legislation from Australia’s Department of Treasury has proposed limits on cash payments exceeding $10,000. Interestingly, cryptocurrency is not negatively mentioned in the document. Australia Moves to Limit the Size of Cash Payments Australia’s Department of Treasury recently published a new set of preliminary guidelines that govern the size of cash-based currency payments. The draft legislation proposes that a “payment limit of $10,000 for payments made or accepted by businesses for goods and services”. The draft further stipulates that “transactions equal to, or in excess of this amount would need…
Read MoreVerizon Hiring Blockchain Experts for ‘Distributed Network’ Project
U.S. telecom giant Verizon appears ready to join the blockchain space as its website currently lists 35 vacancies requiring ‘blockchain technology knowledge’. Verizon Joins the Fray A recent LinkedIn post for blockchain-engineers indicates that telecom giant, Verizon, could be in the process of building a blockchain-based product focused on privacy, payments, and security. According to Verizon’s website the company is looking to hire five blockchain engineers, along with a “blockchain technology development” lead. Currently, Verizon has 35 listed vacancies that require ‘blockchain knowledge’. The role is described as requiring a…
Read MoreCrypto Is Part of Free Speech, and Free Speech Is Everything
On July 23, U.S. Attorney General William Barr gave a speech demanding big players in the tech industry work with government agencies in providing backdoor entry points for encrypted devices and software. Per his reasoning, certain devices and messaging services pose a safety threat by providing a secure, third-party-inaccessible area where crime can rapidly proliferate. He didn’t note that this “warrant-proof encryption” also protects journalists, researchers, and individuals in areas of political unrest living under corrupt governments. Secure encryption also protects and verifies the financial assets and transactions of cryptocurrency…
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