Monthly Archives: November 2019

Bithumb Quashes Shanghai Office Closure Rumors After Binance Denial

South Korean cryptocurrency exchange Bithumb denies recent reports that Chinese authorities have raided its Shanghai offices. South Korean cryptocurrency exchange Bithumb is denying recent reports that Chinese authorities have raided its Shanghai offices. On Nov. 21, a Bithumb spokesperson informed the Block that the recent rumors of a police raid and closure of the exchange’s Shanghai offices are false and that its one and only Shanghai team continues to operate “steadily without pause.” Yesterday, Chinese media reportedly wrote that the South Korean crypto exchange had told its […]

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Green Policy and Crypto Energy Consumption in the EU

Solarization dominating green energy efforts in the EU. Society is now witnessing the implementation of digital currencies, AI and blockchain technology worldwide. These new digital technologies require a high consumption of electricity, currently produced predominantly using coal and fossil fuels that adversely impact the environment. A global shift toward green energy will require the removal of the existing regulatory barriers on technology, infrastructure, finance and tax policy. In this series, my articles evaluate the tax, digital technology and solar policies (including space power satellites) of the countries […]

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Few Big Exchanges Continue to Report Fake Volumes in 2019: Chainalysis

Large crypto exchanges appear to have slowed misreporting of their trading volumes in 2019, according to a new Chainalysis report. Large crypto exchanges appear to have stopped misreporting their trading volumes in 2019, a new study by Chainalysis says. According to the New York-based blockchain analytics firm, there are still some crypto exchanges including Bitforex that likely report fake trading volumes to simulate greater market activity and liquidity. Chinalysis posted the study on its blog on Nov. 15. In the study, Chinalysis analyzed the top 10 cryptocurrency […]

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Backfire in Argentina: Citizens Want BTC Over Peso Amid USD Crackdown

Following the ban of crypto purchases with credit card, Argentina’s P2P Bitcoin trading volume reaches an all-time high. Argentina’s central bank had formally banned consumers from purchasing Bitcoin (BTC) and other cryptocurrency using credit cards on Nov. 1. What followed was the very opposite of what the Argentine government had anticipated — over the past two weeks, the country has traded the highest amount of Bitcoins on the peer-to-peer platform LocalBitcoins, according to data by CoinDance. Argentina’s fragile economy One of the biggest factors in the high […]

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Lawyer Found Guilty of Money Laundering for OneCoin’s Cryptoqueen

Former partner at law firm Locke Lord Mark S. Scott was found guilty of helping OneCoin co-founder Ruja Ignatova launder $400 million. A Manhattan federal jury has found lawyer Mark S. Scott guilty of helping OneCoin co-founder and current fugitive Ruja Ignatova launder $400 million. On Nov. 21, Law360 reported that the Manhattan jury of six women and six men decided to hand down a guilty verdict to Scott, a former partner at law firm Locke Lord who was suspected of being paid $50 million to launder […]

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In 2019, Cryptocurrency Exchanges Diversified

With exchanges controlling so much of the industry inflows, and accounting for more than 40% of the jobs, any review of the year has to start and end there. An analysis of the dominant trends driving trading platforms serves as a proxy for measuring the cryptosphere’s overall health. From initial exchange offerings to staking as a service, 2019 was the year that crypto exchanges expanded and diversified. Also read: Bitcoin Emits Less Carbon Than Previously Claimed, New Study Finds Exchanges Double Down on Partnerships and Referrals Forging […]

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Yahoo Finance Adds CoinMarketCap’s Crypto Prices to Its Website

Yahoo Finance, the U.S.-based financial news giant, has integrated crypto pricing by CoinMarketCap into its website. Yahoo Finance, the United States-based financial news giant, has integrated its website with cryptocurrency pricing by major crypto data supplier CoinMarketCap (CMC). The website now allows visitors to track prices for major cryptocurrencies, providing CMC-based data including market capitalization, trading volume, circulating supply and others. Verizon Media-owned Yahoo Finance and CMC confirmed their strategic partnership for cryptocurrency data and content in a press release to Cointelegraph on Nov. 21. Yahoo Finance’s […]

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IRS Vs. Bitcoin ATMs: Industry Says There Is Already Enough Regulation

The number of Bitcoin ATMs installed worldwide has reached a new milestone. Coincidentally, regulators start looking to apply more scrutiny. Earlier this week, the number of Bitcoin (BTC) ATMs installed worldwide reached a new milestone, surpassing 6,000. Coincidentally, another major development just a day before occurred within the same area: The United States Internal Revenue Service said it was looking into potential tax issues caused by such ATMs and kiosks. This development might allow the IRS to succeed in mitigating the use cryptocurrency for large-scale federal tax […]

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Vermont Power Utility Partners With Blockchain Firm for Local Solar Energy Sales

A Vermont power utility has entered a partnership with blockchain firm LO3 to launch a blockchain pilot for solar power trading. Some Vermont-based households can now sell their excess renewable energy to businesses through blockchain-based energy startup LO3’s platform. Vermont power utility Green Mountain Power and LO3 jointly launched a pilot project that enables homeowners with solar panels to sell surplus power to businesses served by the utility, industry-focused publication Microgrid Knowledge reported on Nov. 19. 500 MWh in trades per year The project is called Vermont […]

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Bitcoin Crashes Back to $7.4K Completely Wiping Out the October Rally

Bitcoin plummeted several hundred dollars past its 0.786 Fibonacci level to $7,400 on false rumors of Chinese authorities raiding Binance’s Shanghai office. Bitcoin (BTC) finally dropped all the way down to the $7.4Ks in minutes as anticipated in our previous analysis if the key $7.8K level did not hold.  Cryptocurrency market daily performance. Source: Coin360 Over the past week, BTC/USD has faced a slow grind down to the $8,000 price level. Now, Bitcoin also broke below its 0.786 Fibonacci retracement level as well — its last major […]

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