Strong Market Recovery Following SEC Securities Announcement

Business man ready to run toward the city on Recovery

Today has seen improvement across the board for the majority of cryptocurrencies following yesterday’s announcement by the SEC that Ethereum (ETH) will not be considered a security. The past few weeks saw significant distress amongst various cryptocurrencies, particularly Ethereum and Ripple (XRP), over whether or not they are to be considered securities and what that means for the future of…

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Coinone Margin Trading Deemed Illegal Gambling by South Korean Authorities, Three to be Prosecuted

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Investigations into operations of Coinone, South Korea’s third largest cryptocurrency exchange, on behalf of the South Korean authorities, has come to the conclusion that margin trading offered on the platform is to be classified as illegal gambling. The investigations come from a cyber-criminal investigation unit of the police department and details released today show that Chae Myung-hoon, co-director of KHIMA,…

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German Government Cashes in On Seized Crypto Worth $14 Million

Take the money and run

The German federal state of Bavaria has struck gold! Bitcoin Gold that is – not to mention Bitcoin Cash, plain old Bitcoin, and Ethereum.   In a landmark sale of seized assets, prosecutors earned the government almost $14 million (€12 million) selling cryptocurrency that had been recovered from a company operating illegally. The loot included 1312 Bitcoins, almost 1400 Bitcoin…

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Central Bank of St Louis Makes Surprising Case for Rapid Crypto Adoption, Calls Fedcoins “Naive”

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The economic research arm of the Federal Reserve Bank of St Louis has released a paper entitled “The Case for Central Bank Electronic Money and the Non-case for Central Bank Cryptocurrencies”, which presents some surprisingly progressive thoughts on the nature of Bitcoin and other cryptocurrencies and their place in the financial sector. The paper primarily deals with the concept of…

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Seoul’s Mayor Promising City Cryptocurrency and Support for Blockchain Startups

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In a bid for reelection, Seoul’s mayor, Park Won-soon, has promised local government support for blockchain startups and even the creation of a new cryptocurrency, the “S Coin”, for use in South Korea’s capital.   Describing Seoul as the “world’s leading city in ICT” he said that it was completely natural that it should build a flourishing blockchain sector, putting…

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Chilean Crypto-Exchanges Cry Out for Clearer Regulation

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After having their bank accounts closed without warning, two cryptocurrency exchanges in Chile are calling on government regulators to give some much needed guidance to a confused crypto industry. Bitcoin exchange BUDA and Ethereum trading platform CryptoMKT have released a public statement requesting that the Association of Banks and Financial Institutions (ABIF) “makes its position transparent” and blaming unclear regulations…

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British Government Would Welcome a “Flourishing” London Crypto-Exchange

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Fresh from the announcement that the UK government was setting up a “crypto task force” to look into the risks and benefits of cryptocurrency and all things blockchain, British minister John Glen MP has revealed to reporters that provided the government gets regulation right, they would welcome a “flourishing” cryptocurrency exchange in London. Governments everywhere are trying to balance the…

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G20 Agrees to Leave Cryptocurrencies Alone… For Now

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International finance ministers have decided to take no coordinated action on Bitcoin and other cryptocurrencies, at least for now. The G20 summit had been seen as a potential watershed for the international response to crypto, and nervous markets awaited any big developments out of Argentina this week. Although no specific measures were announced, there is widespread acknowledgement that international cooperation…

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President Trump Bans US Citizens From Buying Petro

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In a widely-anticipated move, President Trump has signed an executive order prohibiting American citizens from buying into the Venezuelan Petro cryptocurrency. This is the first time that a U.S. president has issued any such order relating to a cryptocurrency, though is likely not to be the last. The order was signed yesterday and prevents Americans from conducting Petro-denominated transactions. All…

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