Category: Bitcoin News

Bank for International Settlements GM Calls for Bitcoin Supervision

Agustin Carstens, general manager of the Bank for International Settlements gave a lecture calling on central banks to monitor Bitcoin. While it’s obvious that there is tension between global financial institutions and cryptocurrency, the debate currency debate still rages. Central bankers’ skepticism is understandable — cryptocurrency may be undermining the power of central banks and changing the way we transact. Real value of fiat currency Carstens gave a lecture at the Goethe University in Frankfurt am Main, Germany. During his presentation, the banker drew attention to how tech innovation and the popularity of cryptocurrency affect finance — especially central banks. He emphasized...

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Update: Market up after US financial watchdogs weigh in on crypto

US Senate Committee on Banking, Housing, and Urban Affairs held a fact-finding hearing today on how best to regulate cryptocurrency. Chairmen from the Securities and Exchange Commission (SEC), and the Commodities Futures Trading Commission (CFTC) fielded questions from Senators about how to understand digital currency, and how the agencies will address the emerging investment asset. Chairman of the SEC, John Clayton, and CFTC Chairman J. Christopher Giancarlo presented what each of their agencies has already done to address market manipulation, and securities fraud. However, questions remain about how to understand cryptocurrency, and whose jurisdiction it falls under. Clayton views...

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Australia’s top banks: we won’t ban buying Bitcoin

Australia’s biggest banks confirmed that there are no plans to ban buying Bitcoin with credit cards. Popular Australian banks JP Morgan, Bank of America and Citigroup have adopted a different approach that their US counterparts. No ban, but monitoring of transactions ANZ (Australia and New Zealand Banking Group) told ABC news that it “does not prohibit customers buying digital or cryptocurrencies, or accepting them as a form of payment.” However, the bank does monitor transactions for “unusual behavior” in accordance with AML responsibilities. The bank also does not interact with companies “that operate as issuers, dealers or exchanges of digital...

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Bitcoin: a history of falls

The beginning of 2018 does not turn out to be the most beneficial in the community’s perception of cryptocurrency. Bitcoin has dropped by 70% in value from an ATH of over $20,000 in December 2017. We thought we were coming out of it, but People who bought their crypto assets at ATH were not aware that the general sale had just begun. Many claim this may be the end of Bitcoin. But the end has been upon us many times. 99bitcoins estimates that Bitcoin has been proclaimed dead about two-hundred-fifty times since 2010 (the most murderous year was 2017, with as...

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US regulators to testify to congress on cryptocurrency regulations

Idaho Republican Sen. Michael Crapo and Ohio Democrat Sen. Sherrod Brown will hold a full Senate Banking Committee hearing on Tuesday at 15:00 UST to explore the regulatory framework for cryptocurrency. As the price of Bitcoin and other cryptocurrencies rose last year, investors flocked to the largely unregulated assets. In December last year, Bitcoin hit an all-time high of around $20,000 but has since fallen to $6,644 according to Coinmatketcap. US congressional leaders hope to better understand how to understand cryptocurrency — and who should regulate it. Chairmen of two Key US regulatory agencies will present a framework for...

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