From 7th of January to 6th of February, over $550 billion have been lost in value, as major altcoins and Bitcoin took huge hits to their prices and ultimately, to their market capitalizations. On January 7th, the total market cap of the cryptocurrency market was around $836 billion, close to the market cap of Apple.…
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Bitcoin has become a global phenomenon, presenting opportunities and threats along the way all around the world. Regulators, CEOs, central banks and cryptocurrency startups are on the lookout for the next big news on bitcoin. Australia is the next "player" to impose bitcoin regulation, following a scandal with its biggest bank - Commonwealth Bank of…
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As reported by Frank Chaparro at Business Insider, Nicholas Gelfman, a head trader at Gelfman Blueprint, a company based in New York, solicited $600,000 from around 80 clients, essentially forming a Ponzi scheme with Bitcoin. According to CFTC, certain investors came in to Gelfman firm, gave him money “for placement in a pooled commodity fund…
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According to The Street, around 78.6% of Americans have heard about bitcoin, and what it is. However, some 11% believe that bitcoin is actually illegal and around 48% of surveyed people do not know if the cryptocurrency is illegal or not. The survey was conducted of 1,000 people. One reason this perception dominates the public’s…
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Up until recently, national banks and governments enjoyed a full monopoly over people. With the rise of cryptocurrencies and the sharp rise in fintech, "people's currency" is becoming more and more popular around the world. However, the monopoly over money has become a serious issue for both institutions and big-time CEOs. As a result, the…
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As China's BitKan announced it would officially ban both over-the-counter bitcoin and bitcoin cash transactions, bitcoin fell to around $3,800, denoting more than 20% drop in value, after reaching almost $5000. According to TheStreet, BitKan informed that as the trading of initial coin offerings or ICOs is also suspended, the ban on bitcoin was the…
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The U.S. Securities and Exchange Commission today announced that it has issued an investigative report cautioning market participants that offers and sales of digital assets by "virtual" organizations are subject to the requirements of the federal securities laws. Such offers and sales, conducted by organizations using distributed ledger or blockchain technology, have been referred to, among other…
Read moreJapan's legislature The National Diet passed a bill today to regulate operators of Bitcoin and virtual currency exchanges. The Japan Times reported that under the revised law, virtual currency exchange operators are required to register with the Financial Services Agency (FSA) of Japan. The agency will be authorized to conduct on-site inspections and issue administrative orders as needed. The…
Read moreIt is a rare occurrence that the Bank of Russia publishes a press release on Sunday. But yesterday it did and the press release concerned financial market innovation and blockchain, in particular. The “Megaregulator” press release was published just a couple of days after it became clear that a bill penalizing Bitcoin use is drafted by…
Read moreThe following guest post is one of a series courtesy of Marco Streng, CEO and Co-founder of Genesis Mining. — Regulation has become a very important topic in the Bitcoin industry. Bitcoin is extremely difficult for regulators and governments to get their arms around because it is a very broad technology. It has the characteristics of a…
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