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Crypto Race Heats Up: Bitcoin’s Dominance Ratio Drops to Lowest Level in 12 Months
24.7.2020
The largest digital asset by market capitalization, bitcoin has lost a significant share of market dominance during the last few weeks. Bitcoin’s dominance ratio dropped to 61.5% on Thursday, after hovering around 66% for months on end. The last time the crypto asset’s dominance level...
It Might Be 'too Early to Celebrate' Russia’s New Crypto Law
23.7.2020
Russia’s new crypto legislation was finally approved this week, after a delay of over two years – but it might be that the true battle for crypto regulation in the country is yet to begin.
A local expert has hinted that when policymakers decided to divide the “On Digital Assets” bill into two, they...
US Takes Down $25 Million Bitcoin ATM Operation, Seizes 17 Machines
23.7.2020
The U.S. government has taken down a $25 million bitcoin ATM operation and seized 17 machines along with some cryptocurrencies. The Department of Justice says the man behind this unlicensed bitcoin ATM operation has agreed to plead guilty and is facing up to 30 years in prison. US Dismantles...
Steve Wozniak Sues Youtube, Google for Promoting Bitcoin Giveaway Scam — Youtube Denies Fault
23.7.2020
Apple co-founder Steve Wozniak and 17 other victims have sued Youtube and Google for allowing, promoting, and profiting from bitcoin giveaway scams. However, Youtube insists that it is not at fault for scammers using its video-sharing platform for cryptocurrency giveaway scams and other fraudulent...
Bitcoin News Roundup for July 23, 2020
23.7.2020
With BTC finally breaking out and ETH up even more, CoinDesk's Markets Daily is back with another crypto news roundup
Fiat Will Be a Passing Fad In the History of Money - Deutsche Bank Strategist
23.7.2020
Fiat money will be a passing fad in the long-term history of money, while gold, as a hedge against government money, is outperformed by equities in the long run, according to Jim Reid, Research Strategist at German banking giant Deutsche Bank.
In a note to clients on Wednesday, he admitted that...
US Regulator Green-Lights Banks for Cryptocurrency Custody Services
23.7.2020
The Office of the Comptroller of the Currency (OCC) has clarified that national banks and federal savings associations can provide cryptocurrency custody services for customers. The OCC sees banks providing crypto custody services as “a modern form of traditional bank activities related...
Twitter Hack Victims Face New Personal Data Breech Threats
23.7.2020
Attackers who collected bitcoin (BTC) 13.14 – worth about USD 120,000 – on July 15, from the largest hack in Twitter’s history, are believed to have accessed direct messages boxes of 36 users, including an elected Dutch official, and downloaded “Your Twitter Data” from eight accounts.
The company...
Philippines Now Has 16 Cryptocurrency Exchanges Approved by Central Bank
23.7.2020
The number of regulated cryptocurrency exchanges in the Philippines has grown to 16, according to Bangko Sentral ng Pilipinas, the country’s central bank. One of the regulated exchanges has been helping the government and Unionbank to launch an app for bond purchases. 16 Registered Crypto...
Visa to Remain ‘Agnostic’ On Crypto, Will Support What Clients’ Demand
23.7.2020
Payment card giant Visa said it has an “agnostic” view on cryptoassets, adding it will support all forms of “digital currencies and blockchain networks” that its clients demand.
The clarification of Visa’s stance on crypto came in a blog post from the company published yesterday, where it also said...
US Banks Offering Crypto Custody is 'Insanely' Bullish and Risky
23.7.2020
Source: Adobe/Prostock-studio
While many in the Cryptoverse celebrate a decision by the US Office of the Comptroller of the Currency to allow all federally chartered banks in the US to provide cryptoasset custody services to their customers, it also brings an "existential" risk to Bitcoin...
Stablecoin Tether Set to Eclipse Bitcoin’s Daily Transaction Value
23.7.2020
The most dominant stablecoin in the cryptocurrency ecosystem has seen some competition during the last few years, but the token tether has remained king in the face of rivalry. Just recently, a “Q2’20 review” published by the digital currency data and analytics firm Messari shows...
Bitcoin Surges Back Above USD 9,500 in a Rally Led by Ethereum & Co
23.7.2020
After a month of low-volatility trading below USD 9,500, bitcoin (BTC) finally broke through the level, helped by a surge in ethereum (ETH) and other major altcoins.
Although the rally was not unusually strong for a cryptoasset like bitcoin, getting the price of the asset above USD 9,500 is seen...
South Korea to Charge 20% Tax on Bitcoin Profits Under New Law
23.7.2020
South Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance...
EU Leaders Approve $2.1 Trillion Budget, US Lawmakers Expect Another Round of Covid-19 Relief Money
23.7.2020
The world’s bureaucrats have been on a money creation spree and on July 21, the European Union approved an unprecedented $2.1 trillion coronavirus relief budget. Additionally, American leaders are in the midst of approving a new stimulus relief act amid July’s unemployment extension...
China’s Supreme Court Recommends Increasing Crypto Property Rights Protection
22.7.2020
The supreme court of China has recommended increasing the legal protection of property rights, including digital currency ownership rights. The recommendations also focus on solving issues such as “the use of public power to infringe private property rights, illegal seizures, and freezing...
Devastating Floods in China Raise Questions About Bitcoin Mining Too
22.7.2020
Source: a video screenshot, Youtube/ARIRANG NEWS
With cities under water, billions in damages already reported, and the amount of flooding that China hasn't seen in years putting an increasing pressure on the world's largest hydropower station, there is reasonable concern that mining facilities...
Ethereum’s 2020 Defi Boom Doubles Active Ether Addresses, But Fees Skyrocket
22.7.2020
The number of active Ethereum addresses has grown aggressively in 2020 because of the decentralized finance (defi) boom. Active Ethereum addresses doubled in size leaving networks like Tron, Cardano, and EOS in the dust. There’s a lot happening in the world of decentralized finance (defi)...
Bitcoin News Roundup for July 22, 2020
22.7.2020
With the price of BTC taking a breather following yesterdays jump, CoinDesk's Markets Daily is back with another bitcoin news roundup
Dr Seuss Crypto Collectibles to Feature Cat in the Hat, Lorax, Horton, the Grinch
22.7.2020
Dr. Seuss’ characters will be crypto collectibles due to a partnership between Dr. Seuss Enterprises and Dapper Labs, the company behind Cryptokitties and the upcoming NBA Top Shot. Some of the characters that will be available include The Cat in the Hat, The Lorax, Horton, The Grinch,...