DNotes Global, Inc. today announced the release of DNotes Bot, a trading bot designed to assist cryptocurrency exchange traders by providing automated trading for buy and sell orders.
Coincheck President Toshihiko Katsuya told reporters on Wednesday that the ongoing slump in Bitcoin’s price has negatively impacted the exchange’s ability to regain its footing since being hacked earlier this year, the Nikkei Asian Review reports.
Officials from Japan’s National Policy Agency say that they received about 6,000 cryptocurrency-related money-laundering reports from January to October 2018, according to a December 7 report from Japan Today. The number represents a significant increase over last year’s reported cases:
A commissioner from the U.S Securities and Exchange Commission (SEC) has said that institutionalization of cryptocurrency will happen but ceded that crypto advocates shouldn’t hold their breath when it comes to waiting for the approval of cryptocurrency Exchange Traded Funds (ETF).
Congressman Warren Davidson (R-OH) has reportedly announced his intention to introduce legislation to enable more effective federal regulation of cryptocurrency and ICOs, according to Cleveland.com. Davidson made the announcement on Monday, during the Blockland Solutions conference.
South Korean finance minister nominee Hong Nam-ki reportedly suggested that the government will draw up plans to tax digital currencies, according to reports from the Korea Times. The Times quoted recent written remarks Hong submitted as part of his confirmation process:
The United States Treasury Department broke new ground this week as it included cryptocurrency addresses for two targets of U.S. sanctions related to an Iranian ransomware scheme. The sanctions were placed on two men who allegedly laundered millions in Bitcoin payments made as a result of the SamSam ransomware attack that reportedly affected more than 200 victims who were forced to pay more than $6 million in ransom.
During remarks at this week’s Consensus: Invest conference, New York Stock Exchange chairman and Intercontinental Exchange (ICE) CEO Jeff Sprecher asserted that digital assets are not going anywhere, despite the current bearishness in the crypto markets. In response to a question about the lower prices, Sprecher chose to address the issue of whether digital assets can survive:
The last 24 hours has been a lot kinder to cryptocurrency markets than the fortnight prior that saw $90 billion wiped from the industry’s market capitalization.
Securities and Exchange Commission Chairman Jay Clayton wants to see some major changes in the cryptocurrency markets before he can be “comfortable” with the idea of approving a Bitcoin ETF, according to a report from CNBC. Speaking at the CoinDesk Consensus invest conference this week, Clayton said that improvements need to be made in areas like market surveillance and cryptocurrency custody.
Illegal capital outflow collectively costs nations around the world upwards of trillions in capital that is seldom recovered. Not to be confused with capital flight – which is an outflow of money that travels through the proper legal channels, illegal capital flight entails moving illicitly obtained wealth into another country in an attempt to obfuscate its origin and evade authorities. Illegal capital outflow affects both wealthy and poor nations on every continent aside from Antarctica. Cryptocurrency could either exacerbate this problem, or be the solution, depending on how it is adopted by the world.
Edward Snowden has said that even if Bitcoin’s allure fades, decentralized currencies’ utility in transferring value outside of traditional banking networks will continue with newer iterations.
According to information obtained by the Telegraph, The UK’s Financial Conduct Authority (FCA) has dramatically increased its scrutiny of cryptocurrency companies as part of a broad effort to clean up the industry. In response to a Freedom of Information request, regulators revealed that they have investigated a total of 50 crypto-related companies, more than double the amount reported just six months ago.
As the Bitcoin price fell further yesterday to below the $4,000 dollars for the first time since late September 2017, some vocal industry insiders are saying this looks more like a cyclical correction than a bursting bubble.
Starting tomorrow, businesses operating in the U.S. state of Ohio will have the option to pay their taxes using Bitcoin. The new option is part of the Ohio Treasurer’s efforts to provide cutting-edge innovations and services to taxpayers in the state.
Genesis Trading CEO Michael Moro believes that the Bitcoin price may not find its bottom until it drops down to $3,000, and that the current $4,000 dollar level may not hold much longer.
Earlier this year, there were reports that the U.S. Department of Justice had launched a criminal probe into the cryptocurrency industry, focusing on spoofing, wash trading, and other illegal practices. This week, Bloomberg reported that the DOJ is now examining whether Tether trading played a role in illegally manipulating prices for the world’s most well-known digital currency:
DNotesEDU has announced the release of its Global Digital Currency Industry Insight Report, a 45-page examination of the cryptocurrency industry that covers a broad range of blockchain and crypto-related technologies, trends, and potential risks.
Bitcoin’s price may have plummeted in recent days, but that crash seems to have done little to quell Fundstrat Global Advisor co-founder Tom Lee’s bullish outlook on the world’s most popular cryptocurrency. During an appearance on CNBC’s Squawk Box on Tuesday, Lee predicted a price recovery and stood by his most recent forecast suggesting a year-end Bitcoin price as high as $15,000.
When the UK government’s cryptocurrency taskforce reported to the government in late October, one of its recommendations advised officials to consider a complete ban on crypto derivatives like CFDs, futures, and options. UK Financial Conduct Authority (FCA) Executive Director of Strategy and Competition Christopher Woolard has confirmed that regulators will consider such a ban, according to Finance Magnates.