Month: February 2020

The spreading coronavirus sowed a new bout of fear among investors, triggering a stock market sell-off and flight to safe-haven assets like gold and U.S. Treasury bonds, with 47 countries now reporting infections amid widespread reports of travel cancellations, shipment delays and business interruptions. U.S. stocks fell for the sixth straight day, Treasury yields slid
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Coinhako, a cryptocurrency exchange backed by Tim Draper, has restricted user withdrawals after falling victim to a “sophisticated attack.” The Singapore-based exchange told users Friday that account send functions for cryptocurrencies had been temporarily disabled. Although a spokesperson initially said this was for “network maintenance”, the exchange admitted Saturday it had been victim to an
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Bitcoin (BTC) was fighting to keep support at a key level on Feb. 27 as markets worldwide continued to suffer from fears over coronavirus. Cryptocurrency market daily overview. Source: Coin360 The make-or-break moment for BTC bulls Data from Coin360 and Cointelegraph markets showed BTC/USD fluctuating around its 200-day moving average (200 DMA) just below $8,800.
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Robert Herjavec, Multi-millionaire co-host of ABC’s “Shark Tank,” said Bitcoin (BTC) is currently valued at only a fraction of its long-term potential. “I think the price of Bitcoin, on a long-term basis, will quantuple, if that’s a word,” Herjavec told Kitco News in a Feb. 25 interview. Herjavec likes digital payments After speaking on gold,
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Epayments, one of the largest payment providers in the U.K., has halted operations after the Financial Conduct Authority (FCA) suspended the company for “weaknesses” related to its anti-money-laundering (AML) process. Since Epayments shut down on February 11, customers have been complaining because they cannot access their money. Reports also detail that if the firm becomes
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On Feb. 26, Hong Kong’s financial secretary Paul Chan stated that his administration will strengthen its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) policies regarding cryptocurrencies. In his recent budget speech, Chan indicated that the amendments will address recommendations made by global financial watchdog, the Financial Action Task Force (FATF).  New regulations to affect crypto
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Ethereum (ETH) co-founder Vitalik Buterin does not believe that the popular stock-to-flow model is useful for predicting the Bitcoin (BTC) price. In a Twitter debate on Feb. 27, Buterin became the second well-known figure to criticize stock-to-flow, which calls for BTC/USD to trade at an average $100,000 between 2021 and 2024. Buterin: stock-to-flow forecasts “part
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Mass unrest in Lebanon due to allegations of political corruption and heavy handed capital controls has carried over into the new year, with reports pointing to a notable uptick in bitcoin trading from the embattled nation. As residents seek to preserve as much value as they can while government falters, some traders are calling for
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Recently, financial regulators around the world have been growing concerned about the role of cryptocurrency in money laundering and financing of various illicit activities. The first two months of 2020 saw many governments acting on these concerns and introducing a variety of legal measures designed to bolster their defenses against financial cybercrime allegedly facilitated by
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The US Securities and Exchange Commision has rejected New York based firm Wilshire Phoenix’s Bitcoin Exchange Traded Fund (ETF) application, citing ongoing concerns over market manipulation and a lack of surveillance-sharing agreements. Commissioner Hester ‘Crypto Mom’ Peirce has publicly disagreed with the rejection. NYSE Arca had submitted a proposed rule change to allow the listing
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An Iranian general is reportedly calling for the use of cryptocurrency to evade sanctions. Saeed Muhammad, commander of the Islamic Revolutionary Guard Corps’ “Army of Guardians of the Islamic Revolution” (or Sepâh for short), a branch of the Iranian Armed Forces, said in a speech Wednesday that Iran should look to cryptocurrencies to bolster international
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The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix’s bid for a bitcoin-based exchange-traded fund (ETF). In a filing posted Wednesday, the securities regulator wrote that the New York-based Wilshire Phoenix had not proven the bitcoin market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services industry, first applied for
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Crypto prime brokerage service Tagomi is joining the Libra Association, becoming the 22nd member and the second to join since the group was formally founded in October 2019. According to TechCrunch, Tagomi is set to formally announce its intention to join the association later this week. It joins ecommerce platform Shopify, which announced it would
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