BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX: Price Analysis 05/06

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. There is a large disconnect between traditional investors and crypto investors on how they approach cryptocurrencies. Billionaire investor Stanley Druckenmiller said that he would neither buy nor sell Bitcoin because he does not find inherent value in it. He also said that due to its…

California Public Accountants Seek Clarity on Cryptocurrency Holdings

The California Society of Certified Public Accountants (CalCPA) is seeking clarity on cryptocurrency holdings from the Financial Accounting Standards Board (FASB), according to a recent letter obtained by Cointelegraph. In the letter, CalCPA stated that accounting for digital currencies is not adequately captured under existing United States Generally Accepted Accounting Principles (GAAP) established by the FASB, and should be generally aligned with the accounting model for a foreign currency. The organization said that many of the features and risks of cryptocurrencies are similar to those of foreign currency. The society…

Facebook to Announce Cryptocurrency Project This Month

Social media giant Facebook will reportedly announce its cryptocurrency project this month, allowing employees to take part of their salary in the coin, CNBC reports on June 5. Citing a report by The Information, CNBC states that Facebook furthermore plans to cede control of the cryptocurrency to outside parties in order to ensure that the digital asset will not be completely centralized. Third-party organizations will purportedly pay as much as $10 million dollars for the opportunity to act as a node — to validate transactions — on the network for…

South Korean Post Teams Up With Crypto Exchange to Apply Blockchain

South Korea’s national postal service Korea Post is planning to apply blockchain technology to its billing system, local news agency News1 Korea reports on June 5. The initiative is a collaboration between the South Korean government and local private companies including cryptocurrency exchange Coinplug and global IT company NHN. According to the report, South Korean authorities will grant project participants 800 million won ($677,000) in order to support the initiative. Operating under the authority of the Ministry of Science and ICT, the Korea Post will build a blockchain-powered payment method…

P2P Bitcoin Exchange HodlHodl Launches Lightning Network Support

Non-custodial peer-to-peer (P2P) bitcoin (BTC) exchange HodlHodl announced Lightning Network support in a Medium article published on June 5. The announcement claims that now “everyone is able to buy bitcoins and receive them directly into their Lightning wallet & sell bitcoins directly from their Lightning wallet.” The post also notes that the platform has previously tested Lightning Network support on the test network. The company reportedly only implemented Lightning Network support after successful testing. The post further highlights that the actual procedure will not be much different when compared to…

‘Gold Is Superior To Bitcoin,’ Say People Who Sell Gold

The folks that sell gold are a bit upset by Grayscale’s Drop Gold advertising campaign. In particular, GoldMoney.com, is going to great lengths to convince the investing public that the yellow metal is “superior” to bitcoin, not the other way around as the Grayscale ads claim. The precious-metals company has created an infographic and white paper that aim to convince us gold isn’t so bad. GoldMoney.com founder Roy Sebag has quite a lot to say on the matter. His white paper begins by calling out Barry Silbert, founder of Grayscale…

Privacy Crypto Grin’s First Hard Fork Planned for July

Grin developers have reached a rough agreement on a block number and expected date of activation for the crypto network’s first ever system-wide upgrade or hard fork. Proposed by Quentin Le Sceller, a Grin core developer and software engineer at blockchain startup BlockCypher, during a developer call on Tuesday, the proposed activation block number is 262,080. The network is expected to hit this block height on July 17. On Wednesday, developers re-discussed Le Sceller’s hard fork timeline, which also calls for launching a private test network for the upgrade in the…

Apple’s CryptoKit Launch Paves the Way for Secure Mobile Wallets

Apple is set to launch CryptoKit, a Swift API to perform basic cryptographic operations on its upcoming iOS 13 software release. The announcement came during the tech giant’s Worldwide Developers Conference. According to Apple, the new framework will integrate options for hashing, key generation and exchange, and encryption for developers on iOS apps. The new framework will supplant Apple’s previous framework, CommonCrypto, which does not support Swift. CryptoKit will allow developers to avoid lower-level interfaces by freeing developers from managing raw pointers and automatically overwriting sensitive data during memory deallocation,…

Malta Needs to Up Its AML Game As Crypto Sector Grows, Says EU

Malta needs to increase its levels of anti-money laundering (AML) policing to match the growth in financial services, according to the EU. As reported by Malta Today, the European Commission said the island jurisdiction’s moves to boost its cryptocurrency sector, alongside sizable financial and gaming industries, mean an effective AML regime is required. The comments came in recommendations made to EU member nations regarding spending of EU funding. The commission said that it was “positive” that Malta’s Financial Intelligence Analysis Unit had seen increases in budget and staffing levels, and other procedures…