Leading crypto exchange, Bittrex, announced that it was leaving Malta last week and setting up new headquarters in Liechtenstein. According to a market onlooker, the relocation has taken place around the same time the Maltese government has announced plans to tighten its money laundering policy for cryptocurrency businesses. Malta to Actively Monitor Crypto Businesses Coincidence or not, one month before Bittrex’s move the Malta Financial Services Authority (MFSA) announced new plans to update crypto regulations that will allow the watchdog to actively monitor exchanges and other firms to prevent money…
Read MoreMonth: October 2019
Exchange Tokens Have Outperformed BTC This Year
Few crypto assets have outperformed bitcoin this year, but the handful that have are predominantly exchange tokens. Their success attests to that of the token sale launchpads they have hosted, which have in turn driven demand for exchange tokens. But as IEOs start to wind down, can exchanges sustain the momentum, or will BTC recapture the lead and finish 2019 on a high? Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain 2019 Was the Year of the Exchange Token Bitcoin has had a good week, but…
Read MoreIs China’s Blockchain Future A Brave New World Or Orwellian Dystopia?
Last week, China’s President Xi Jinping nailed his colors firmly to the blockchain post, urging accelerated adoption of the technology. The announcement excited investors in Bitcoin and tech stocks, but the first ‘official’ output is slightly more ominous. China’s Communist Party (CCP) has released a decentralized app (dApp) for members to pledge their allegiance to the party on a public blockchain. Original Intentions Onchain Even the name of the dApp is enough to strike fear into the heart of any democracy-dwelling reader of Orwell’s ‘1984’. The literal translation is ‘Original Intentions…
Read MoreXRP Price Predictions Ahead of Ripple Swell Conference
Ripple’s XRP cryptocurrency is stuck at $0.29 – but this does not prevent its supporters from dreaming big. The asset, which peaked above $3 and never returned to those valuations, is facing renewed enthusiasm ahead of the annual Swell conference. From $500 to $0.50 Predictions are tamer this time, down from the outlandish $500 valuation which would be reached if XRP was used in all worldwide financial transactions. But @Crypto_Bitlord suggested a price of $8, an unseen record. This prognosis is surprising, given all the obstacles for XRP to recover…
Read MoreEthereum Network Not Rolled Back After DAO Hack
The Ethereum (ETH) network was not really rolled back after the DAO hack, explained the project’s co-founder, Vitalik Buterin. Instead, the record was altered in the state of the DAO. The “Surgical Intervention” Did Not Roll Back General Transactions Innocent users did not see any of their transactions invalidated and rolled back, explained Buterin. Instead, the intervention was “surgical” and only concerned the state of the DAO coins and tokens. We haven’t rolled back the chain. We’ve intervened in state. There’s a difference; the former implies that innocent users’ transactions…
Read MoreGovernments Won’t Control Bitcoin, Hodlers ‘Will Never Sell’: Expert
Bitcoin will not end up under government control as a result of buying out major bagholders, says one of the industry’s best-known experts. Ammous: Bitcoin Hodlers Won’t Sell As part of a Twitter debate beginning on October 28, ‘The Bitcoin Standard’ author Saifedean Ammous challenged the idea rogue actors would crash Bitcoin in future. Pumping the Bitcoin price would not make long-term investors, or HODLers, want to sell. As fiat currency has unlimited issuance, there would be no incentive to give up BTC holdings. “I think lots of (Bitcoiners) will…
Read MoreBitcoin Will ‘Never’ Crack China Due To Politics, Says Weiss Ratings
Bitcoin will not see official acceptance in China, ratings agency Weiss Ratings has declared as hype continues over the country’s Blockchain stance. Weiss: Bitcoin ‘Antithesis’ Of Chinese Politics In a tweet on October 28, Weiss, which has become well known for its no-nonsense tone on social media, said China would “never” use Bitcoin 00. The comments came as China released the latest instalment of its cryptocurrency rankings, which placed Bitcoin eleventh out of 35 tokens. “China will NEVER use (Bitcoin). Period,” the tweet read. “Bitcoin is an open, decentralized, permissionless,…
Read MoreSpeculation Abounds Over the Cause of Bitcoin’s Recent Rally
Crypto’s most recent bull run began last Friday, October 25, after a significant plunge in prices just days earlier that had some prognosticators worried about a return to late 2018 and early 2019’s bleak crypto winter. Since the recent spike, prices have held relatively steady, suggesting this rally is not just a flash in the pan. That being the case, a look at bull runs of times past and what this could mean for the market today is in order. Also Read: After Breaking New Records Bakkt Announces Crypto Consumer…
Read MoreChina Digital Currency Will Replace SWIFT: Huang Qifan
China’s plans to create a sovereign digital currency might be aimed towards eradicating the need for U.S.-controlled payment systems like the Society for Worldwide Interbank Financial Telecommunications (SWIFT). SWIFT and CHIPS Systems Have No Future Speaking at the Bund Financial Summit in Shanghai, Huang Qifan the vice chairman of the China Center for International Economic Exchanges (CCIE) declared that China was looking to create a cross-border renminbi (RMB) liquidation system independent of SWIFT. Blockbuster news pic.twitter.com/qJqof82PI5 — Matthew Graham (@mg0314a) October 28, 2019 For Qifan, the tendency for the U.S.…
Read MoreChina Ranks 35 Crypto Projects as President Xi Pushes Blockchain
China has been on a roll with a series of crypto-related announcements. President Xi Jinping’s speech to accelerate the development of blockchain technology in China was followed by the passing of a cryptography bill. Meanwhile, China’s Center for Information and Industry Development has continued to evaluate and rank crypto projects, and the central bank is preparing to launch its own digital currency. Also read: China Publishes New Rankings of 37 Crypto Projects China’s Latest Rankings: 35 Projects As China embraces blockchain technology and prepares to launch its own digital currency,…
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