Cryptocurrency markets endured another hammering in the last 24 hours, as the Bitcoin price fell to its lowest level since October 18, 2017 to lead the wider market bleed totaling $18 billion.
SIX Swiss Exchange has received approval from Swiss regulators to list the world’s first multiple-cryptocurrency exchange-traded product, Amun Crypto ETP, according to a report from the Financial Times. The ETP will reportedly include five major cryptocurrency assets: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
Japan’s Financial Services Agency (FSA) has reportedly revealed plans to provide regulation of cryptocurrency wallet service providers, according to a report from Bitcoin News. The news comes just weeks after the agency granted self-regulatory status to the nation’s cryptocurrency industry.
Innovative Bitcoin rewards startup Lolli has reportedly raised $2.25 million in a recent funding round. The company attracted support from a variety of investors, including Bain Capital Ventures, Forerunner Ventures, and Version One.
Nvidia Corp delivered a disappointing revenue forecast to investors on Thursday, while reporting lower-than-expected third-quarter sales. The news sent Nvidia share prices tumbling almost 17 percent, Reuters reports. In explaining the bad news, the company blamed the lingering ‘crypto hangover’ caused by the downturn in cryptocurrency mining demand for its products.
After a notable run of price stability over the last several months, Bitcoin volatility returned with a vengeance on Wednesday as the price of the world’s most well known cryptocurrency crashed below $6,000 – losing more than 9 percent of its value. At press time, the price stood at $5,541. 23 on Coinbase, down more than $750 in the last 24 hours.
Binance CEO Changpeng Zhao recently said that the company continues to perform despite a 90% reduction in trading volume since the turn of the year.
Zeniex exchange has said it will close its doors in the wake of the South Korean government targeting unregulated trading platforms, according to a Nov 9 post on the company’s site.
French Parliament’s Finance Commission Approves Budget Amendment to Lower Crypto Capital Gains Tax Rate
If lawmakers in the French parliament’s finance commission have their way, France’s 2019 Budget could bring some measure of tax relief to French cryptocurrency traders. The commission this week approved an amendment to the budget bill that would reduce the capital gains tax rate on cryptocurrency gains from 36.2 percent to a flat rate of 30 percent – the rate applied to other non-real estate assets.
The Al Zarooni Group has partnered with US-based Crypto Bulls to launch the first registered cryptocurrency exchange in the United Arab Emirates, according to reports from Gulf Today and Asia Times. The parties have reportedly signed a memorandum of understanding for the venture, which will also involve collaboration with Gulf Coin Gold.
Galaxy Digital CEO Michael Novogratz has predicted that Bitcoin could reach new highs of “20,000 or more” in 2019, when he spoke to U.K Financial News Nov. 5.
A Securities Exchange Commission (SEC) official has come forward saying the regulator is working on guidelines that will make it easier for developers to discern whether their ICO constitutes an offering of securities.
In a report published on Monday, Bloomberg offered some rare mainstream media encouragement to cryptocurrency enthusiasts who have been eagerly awaiting good news about Bitcoin’s future price prospects. According to the report, various technical indicators suggest that Bitcoin could be preparing for a positive price move in the coming weeks.
Bloomberg recently reported that Hinomaru Limousine Co. has partnered with Remixpoint Inc. to create a new service that will offer limo customers the option to pay for their rides using cryptocurrency. The report relied on unnamed sources, who suggested that a formal announcement would be made on Tuesday.
The African Digital Asset Framework Project (ADAF) was officially launched on November 2, with the goal of furthering the development of digital currency trading and commerce across the African continent, while building “digital bridges for trade and commerce among Pan-African communities.”
The Hong Kong Securities and Futures Commission announced new regulations for cryptocurrencies this week, according to the South China Morning Post. The SFC rules were unveiled in two circulars released on Thursday.
Gemini exchange founders Cameron and Tyler Winklevoss have filed suit against Bitinstant founder and convicted felon Charlie Shrem, alleging that Shrem stole 5,000 Bitcoin from them in 2012, the New York Times reported today. The Bitcoin in question have a current value of roughly $32 million.
New Zealand’s innovation agency, Callaghan Innovation, has reportedly provided Auckland-based crypto trading platform Vimba with a $315,000 government grant, according to the Scoop news site. Vimba, which previously operated as MyCryptoSaver prior to its rebranding, has indicated that it will use the money to promote technological innovation and expand its offerings.
BitMEX CEO Arthur Hayes recently offered some thoughts about the ongoing cryptocurrency bear market. In remarks to Yahoo Finance UK, Hayes said that the current bearishness could persist for another year and a half:
Cryptocurrency exchange Coinbase is now worth over $8 billion after raising $300 million in Series E funding, according to an October 30 post on the company’s blog.