Ethereum (ETH) Price Revisits Key Support: Risk of Breakdown Looming

ETH price struggled to climb above the $300 resistance level and declined against the US Dollar. Bitcoin price broke the $10,000 support area, resulting in bearish moves in the market. There was a break above a connecting bearish trend line with resistance near $289 on the hourly chart of ETH/USD (data feed via Kraken). The pair is struggling to recover and it might slide below the $278 and $275 support levels. Ethereum price is facing a lot of hurdles versus the US Dollar and bitcoin. ETH price must break the…

Facebook’s Libra Crypto Code Draws Critiques and Clones on GitHub

The early-access code for Facebook’s Libra cryptocurrency hit GitHub two weeks ago – and in that time, critics and would-be trollers have taken aim at the project. Spun up by the social media giant and presently managed by the non-profit Libra Association, the project on GitHub has been saved or “starred” by close to 10,000 users, signifying an early wave of interest among open-source participants. Additionally, over 1,000 clones of the codebase have been created thus far as technologists sit down to experiment with Libra’s code. In fact, some of…

BIS Chief: Central Banks May Issue Digital Currencies ‘Sooner Than We Think’

After issuing comments and reports heavily critical of cryptocurrencies over the last few years, Agustin Carstens, chief of the Bank for International Settlements (BIS), has acknowledged that central banks will likely soon need to issue their own digital currencies. Speaking to the Financial Times on Sunday, Carstens said that BIS – which acts like a central bank for central banks – is supporting global central banks’ efforts to research and develop digital currencies based on national fiat currencies. A number of central banks are engaged in such work and “we are working…

Deutsche Börse’s Xetra Exchange Lists First Blockchain Firm

Xetra, a Deutsche Börse-operated trading venue for financial assets such as stocks, bonds and funds, has just listed its first blockchain company. As reported by DGAP.de on Monday, shares in the firm, Advanced Blockchain AG, will be tradeable on Xetra from today. The news comes after the same company launched on the Frankfurt Stock Exchange in January. Berlin-based Advanced Blockchain AG develops distributed ledger technology (DLT) software for businesses, according to DGAP. Along with its subsidiary nakamo.to GmbH, the firm has built a project called peaq, which sets out to provide…

Metronome Now Lets Users Move Tokens Between Blockchains

MET token holders now have the option to choose their blockchain, a feature that was first announced a year ago at launch but only rolled out last week. The developers of the Metronome project announced activation of the cryptocurrency’s cross-blockchain capability following successful test transfers of MET tokens from the ethereum blockchain to the ethereum classic blockchain and back. Cross-chain hops allow holders to pick the ledger that suits their risk profiles and requirements for stability and governance. While that may sound like an atomic swap, Jeff Garzik, principal architect,…

Russia Won’t Ban Facebook’s Libra Currency, Deputy Finance Minister Says

The Russian Ministry of Finance will not issue any special regulations for Facebook’s upcoming digital currency Libra, deputy minister Alexei Moisseev said Monday. Answer reporters’ questions, Moisseev said Libra will be treated in Russia like any other digital asset, regulations for which are coming, according to the news agency Interfax. He added: “Nobody is going to ban it. “ On the other hand, no cryptocurrency of any sort will ever become legal tender in Russia, Moisseev said. “The ruble is our national currency and all operations should be conducted using…

Monarch Unveils a Marketplace and Crypto Trading Platform

Monarch, a wallet and exchange platform, launched a digital asset marketplace to supports 1,900 separate tokens. The company also announced a partnership with financial-services provider Ambisafe to create a licensed alternative trading system which will enable investment in tokenized entities. A pre-IPO token for SpaceX, representing private shares of the aerospace company, will be offered on the ATS, according to the company. The Monarch Marketplace consolidates a number of services including a decentralized wallet, ERC20 exchange, a portfolio tracker, and universal KYC integration on a platform that also enables financial…

Facebook’s Inches Towards Global Regulatory Compliance, Applies for New York BitLicense

Facebook’s initiative to create an accessible, frictionless, globally-available cryptocurrency and payments network is brushing up against unprecedented regulatory hurdles, at least according to a new report from Reuters. Though the social media company is taking steps to comply with watchdogs around the world, many experts are concerned that it won’t be enough. Facebook’s path forward will involve careful orchestration with central banks, financial overseers, and enforcement officers around the world. This administrative tightrope-walk may involve “literally hundreds, perhaps thousands, of licenses from hundreds of different regulators,” said Sean Park, Founder…