Major Chinese Banks Bar Customers From Buying Gold, Precious Metals
Major Chinese banks have taken measures to prevent customers from buying gold, platinum, palladium, and other precious metal-related products through them. The Shanghai Gold Exchange also says it may take necessary measures to curb gold trading to "protect investors." Chinese ... read more.
US Court Dismisses Claims Against XRP: Report Shows Ripple Paid Moneygram $15.1M in Q2
The Northern California District Court finds that claims against Ripple Labs and its token made by two investors cannot be proven. The legal dispute, which began in May 2018, pitted Ripple Labs including CEO Brad Garlinghouse and disgruntled investors. According ... read more.
Putin Signs Law Giving Cryptocurrency Legal Status in Russia
Russia's bill to regulate cryptocurrencies has been signed into law by President Vladimir Putin. The new law gives legal status to cryptocurrency but prohibits its use as a means of payment. Russian Crypto Bill Signed Into Law Russian President Vladimir ... read more.
India Proposes Amnesty for Citizens Holding Unreported Gold
The Indian Ministry of Finance has reportedly proposed an amnesty program for citizens holding unreported gold. The government plans to ask people to declare all their gold stashes to tax authorities and pay levies. The proposition has been made to ... read more.
Triple-Entry Bookkeeping: How Satoshi Nakamoto Solved the Byzantine Generals' Problem
In 2008, Satoshi Nakamoto essentially solved the infamous computational issue called the "Byzantine generals' problem" or the “Byzantine Fault.” Throughout the history of man, people used ledgers to record economic transactions and property ownership. A ledger is often referred to ... read more.
China Never Banned Bitcoin as Commodity, Beijing Arbitration Commission Explains
The Beijing Arbitration Commission has published an article clarifying that bitcoin's use as a commodity has never been banned in China. It explains that the Chinese authorities' attitude toward controlling bitcoin revolves around three areas. China Recognizes Bitcoin as Commodity ... read more.
Alleged Twitter Hack 'Mastermind' Owns $3 Million in Bitcoin, Bail Set at $725K
Regional reports from Tampa show that the alleged “Mastermind” behind the July 15, Twitter hack owns more than $3.3 million dollars worth of bitcoin. While appearing on a video screen at the Hillsborough County Courthouse, the judge set 17-year old ... read more.
Indians Five Times More Likely to Suffer Crypto-Related Hacks: Report
People in India are five times more likely to suffer a cryptocurrency mining hack because of poor consumer awareness, according to a new security report by Microsoft. In its findings published July 29, Microsoft notes that although the number of ... read more.
European Bitcoin Exchange Hacked for $1.4 Million, Claims It Cannot Afford to Repay Users
2gether, a Spanish cryptocurrency trading platform, has been hacked for about $1.4 million and company executives claim that they do not have the money to repay customers. Chief executive officer Ramon Ferraz Estrada said over the course of several tweets ... read more.
Government-Owned Swiss Bank Launching Crypto Trading and Custody Services
Basler Kantonalbank (BKB), Switzerland's eighth-largest bank, is getting into crypto through its subsidiary, Bank Cler. Owned by the Swiss Canton of Basel-City, BKB has total assets of approximately $49 billion. Swiss Canton Bank Launching Crypto Services Local Swiss government-owned commercial ... read more.
Government Official Updates Progress of India's Cryptocurrency Law
A government official has reportedly confirmed that a "note" regarding the legal framework for cryptocurrency in India has been forwarded to related ministries for inter-ministerial discussions. It would then be presented to the cabinet for approval. Status of Indian Crypto ... read more.
Bitcoin ATM Locations Reaching 9,000 Worldwide
The number of bitcoin ATM locations has been rising steadily. Almost 9,000 bitcoin ATMs have been installed worldwide. The U.S. leads as the country with the largest number of bitcoin ATMs, followed by Canada and the United Kingdom. Nearly 9,000 ... read more.
South African Bitcoin Investment Company Faces Fresh Scam Allegations
FX Choice, a forex and crypto trading company, is making new allegations that South African bitcoin investment company, Mirror Trading International (MTI) is a multi-level marketing scam. The company says it uncovered this after researching into MTI, a firm that ... read more.
Flooding Threatens China’s Bitcoin Miners, Chinese Billionaire Says 'Three Gorges Dam Collapse Imminent'
This week cryptocurrency enthusiasts are still focused on the severe flooding in China during the 2020 monsoon season. The flooding has already displaced millions of Chinese citizens and skeptics are concerned about the vast number of bitcoin miners located in ... read more.
Crypto Derivatives Set New Records, ETH Futures Set All-Time Highs, CME Open Interest Spikes
Digital currency derivatives have been on fire during the last two weeks as ethereum futures volumes touched an all-time high on Sunday. The popular derivatives trading platform Deribit saw 1.9 million ETH contracts traded and CME Group is now the ... read more.
Ripple Says Over-The-Counter XRP Sales Soared 1,700% to $33 Million in Q2
Ripple has reported that over-the-counter sales of its XRP digital currency soared 1,760% to $32.55 million during the second quarter of this year. That figure compares with sales of $1.75 million posted the previous quarter, according to an earnings release ... read more.
S2F Price Model Suggests Bitcoin Price Hits $100K - Author Claims Model Is Perfectly on Track
The author of the controversial bitcoin stock-to-flow (S2F) price model said that at current prices the S2F model is “perfectly on track.” S2F shows the price could hit around $30,000 by the year’s end and by August 2021 prices could ... read more.
Bitcoin Cash Difficulty Algorithm Debate Heats Up With Fears of Another Chain Split
With a touch more than three months left until the next Bitcoin Cash upgrade, crypto proponents have been witnessing a new quarrel rise after last year’s contentious Infrastructure Funding Proposal (IFP). This time around, the tensions derive from the Difficulty ... read more.