ECB Warns Banks They Need to Compete With Cryptocurrencies

ECB and flag of The European Union over financial background

The European Central Bank (ECB) has called Bitcoin a bubble, a criminal risk and warned EU members states not to introduce their own versions. Now they’re calling it something else: a competitor to mainstream banking. Greater innovation Though they warn investors off cryptocurrencies, there is increasing acknowledgment that technological innovation in the sector may be beneficial to everyone, particularly if…

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United States Court Orders Coinbase to Release Data of 14,000 Users to the IRS

irs

Coinbase director of communications, David Farmer revealed in a November 29th blog post that Coinbase won a “partial victory” in their month-long court battle against the Internal Revenue Service. But this partial victory still means relinquishing data on 14,000 active accounts. The courtroom drama dates back to November of last year, when the IRS originally requested account details of more 480,000…

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Cryptocurrencies Corrupt Our Youth, Says South Korean Leader, Eyes New Regulation

south korean flag

South Korea is one of the world’s biggest Bitcoin markets, accounting for almost 20% of all trading volumes. Yesterday Korean exchanges saw bitcoin prices top $12,000, with buyers paying a premium as local demand is so strong. However, it seems that not everyone is a fan. Prime Minister Lee Nak-yeon warned this week that cryptocurrencies were a gateway to illegality,…

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Nasdaq the Latest Exchange set to Join the Bitcoin Derivatives Market

nasdaq

Earlier today, the Wall Street Journal cited a source claiming that Nasdaq Inc. – the operator of the world’s second-largest stock exchange – is planning to launch a futures contract based on Bitcoin in the first half of 2018. Further information highlighted that the Options Clearing Corporation (OCC), which clears all Nasdaq futures products, will be responsible for clearing the…

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Nobel Prize Winning Economist Calls for Bitcoin Ban

bitcoin ban

It seems that it’s impossible to be neutral on Bitcoin. You either look to it as the future of money and a revolutionary change in the way we will all interact, or you think that it’s pointless, or worse, immoral. Into this second group comes Joseph Stiglitz, former head of the World Bank and Nobel prize winning economist. Bitcoin Ban…

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Market Sees All Time Highs, Met with Timely Correction

market correction

On November 29th, the cryptocurrency market experienced a substantial pullback from its November bullrun, which saw many top coins keeping pace with Bitcoin’s growth. It’s not every day that you see most of crypto’s top 10 competing with Bitcoin’s rise. Sitting at a 55.1% market dominance, when Bitcoin is pumping hard, it usually leaves other coins stagnant or at a…

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Litecoin Breaches $100 in Another Day of Historic Highs for Cryptocurrencies

litecoin chart on smartphone

While mainstream media attention has been focused on Bitcoin’s spectacular price rises, performance in altcoins is being overlooked. Litecoin, billed as a cryptocurrency silver to Bitcoin’s gold, has been setting its own records, rising from $85.91 on the 27th November to over $102.21 on the 29th. Indeed, in year-on-year percentage terms Litecoin has actually outperformed Bitcoin, up 2541% to Bitcoin’s…

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Bitcoin Crosses $10,000 and Immediately has $11,000 in its Sights

arrows in targets

Bitcoin crossed the long-awaited $10,000 threshold yesterday and shows no sign of slowing down. A remarkable November for the digital currency has seen new historic prices reached every few days. Prices are rising faster than anyone had expected and now the only question on everyone’s mind is, just how high is it going to go? As we said yesterday, $10,000…

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Bittrex Cracks Down on Pump and Dumps

pump and dump

If you’re active in the crypto investment and trading scene, you’re likely familiar with pump and dumps. If not, the name pretty much says it all–a pump and dump is a coordinated, group effort to pump up a cryptocurrency’s price, only to cash out of the crypto and crash its valuation when their profit reaches a certain threshold. As you can probably…

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Elon Musk Denies He Is Bitcoin Inventor Satoshi Nakamoto

elon musk

In the mysterious world of cryptocurrencies perhaps the biggest mystery is who exactly invented Bitcoin. Its primary development has been credited to Satoshi Nakamoto, who created the initial reference documentation and owns one million Bitcoins. At current prices that makes him a dollar billionaire 10 times over but there’s a problem . . . nobody has heard from Nakamoto since…

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