Day: September 24, 2019

Ethereum (ETH) Price Flash Crash To $150, Bitcoin Dives 10%

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ETH price declined heavily and tumbled more than 10% below $185 against the US Dollar. The price is currently correcting higher after it traded close to the $150 level. There is a new major bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is down more than 10% and it broke the $9,000 support area. Ethereum price is back in a downtrend below $185 versus the US Dollar, similar to bitcoin below $10,000. ETH price might correct higher, but…

BitFlyer Adds 5 Altcoins to Its Trading Platforms in Europe and the US

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BitFlyer, a Tokyo-based cryptocurrency exchange, is adding 5 new altcoins to its platforms in Europe and the United States. Five new altcoins added in Europe, three in US On Sept. 23, cryptocurrency exchange bitFlyer announced that it is adding five new altcoins in Europe: Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), Lisk (LSK) and Monacoin (MONA), which will be available immediately to its European customers, while bitFlyer U.S. customers will have immediate access to three of these coins: BCH, ETC, and LTC. The exchange, which is one of the…

H&R Block Offers Solutions for Taxpayers With Crypto Transactions

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United States-based accounting firm H&R Block has begun serving as an intermediary between crypto users and the Internal Revenue Service (IRS) after the agency began sending letters to crypto traders who may have failed to report income and pay taxes. According to a Sept. 24 news release, H&R Block has rolled out a new service targeting people who have engaged in digital currency transactions, specifically providing consultations on how to properly file their cryptocurrency gains and losses on tax returns. The IRS expands efforts involving virtual currency The IRS initially sent…

Payments Firm Circle Pauses Circle Research in Most Recent Cutback

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Crypto finance startup Circle announced that it is hitting the pause button on its Circle Research activities. Deciding on a future direction In a blog post on Sept. 24, the Circle team said the suspension came despite “significant progress” with its content offerings. The team of the Goldman Sachs-backed crypto startup Circle explained: “It’s time to evaluate our contribution and overall strategy. With that in mind, we’ve decided to pause Circle Research activity for the time being as we decide on a future direction for the program.” Circle Research was launched on Oct.…

Kik Messenger to Shut Down as Company Shifts Focus to Kin

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Kik Interactive has announced that it is closing its messaging service due to a legal wrangle with the SEC over its cryptocurrency, Kin. The troubled messaging app, which still has millions of users worldwide, has been involved in a legal battle with the United States Securities and Exchange Commission in recent months after the SEC announced it was suing Kik over the $100 million USD raised from an ICO in 2017. Bloomberg reported back in June that the SEC argues that the token used in the ICO, Kin, counts as…

Bitrue Exchange to Launch Crypto-Backed Loan Platform

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Singapore-based exchange Bitrue is launching a low-interest crypto lending platform, the company said. The service, which goes live on Sept. 30, loans BTC, ETH XRP and USDT at a 0.04% daily interest rate. Users pledge existing Bitrue-held crypto assets as collateral against their $100-minimum loans. Bitrue will fund its novel “power piggy” crypto-holding rewards program with users’ loan interest payments. The loan platform rollout is part of a larger shift for the XRP-focused exchange, CEO Curis Wang said in a statement, alluding to more financial instruments in the pipeline. “Bitrue’s…

Facebook’s Libra Wants to Hit the Market in Early 2020

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It has been a hugely eventful year in the crypto sphere, and perhaps one of the most important developments has been the announcement of Facebook’s Libra. However, as soon as it was announced that it was going to be launched next year, plenty of influential regulators expressed their doubts about the cryptocurrency straightaway. Important Progress They are still doing so, and in a new development, it has emerged that Facebook (NASDAQ:FB) is going to go ahead with the launch of Libra next year as planned notwithstanding any misgivings from regulators. Regulators have…

Facebook’s Project Gets Challenged as ‘EuroCoin’ Looms

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The ripples of the Libra effect are beginning to lap against the shores of Europe, with French Finance Minister Bruno Le Maire suggesting that Europe should throw its hat into the ring and launch its own digital currency. Le Maire’s announcement comes at a time when EU politicians are becoming increasingly vocal about Libra and digital currencies in general.  Speaking at a meeting of EU finance ministers in Helsinki, Le Maire told journalists that he would discuss the feasibility of a European public digital currency with his counterparts in October.…

Major Banks Santander, MUFG Lead $14M Investment in Securitize

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Securitize, a Coinbase-backed token issuance protocol, raised $14 million in a funding round led by the venture capital (VC) wings of major commercial banks.  The San Francisco-based startup has conducted an extension of its Series A round to continue developing its technology platform. According to a press release on Sept. 24, three major investor banks included Santander’s VC arm Santander InnoVentures, Japanese investment group Nomura Holdings and MUFG Innovation Partners, a fully-owned VC subsidiary of Japan’s bank holding MUFG. The new investment round brings Securitize’s total financing up to $30…

US House Hearing With Commissioners of the SEC

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Disclaimer: This report is being updated live from the Financial Services Committee floor. Check in for the latest on the hearing’s progress. In advance: As Cointelegraph reported on Sept. 20, the United States House of Representatives Financial Services Committee is holding a hearing today, Sept. 24, with the Securities and Exchange Commission (SEC) Chairman Jay Clayton and four other SEC commissioners. At the time of the announcement, the published agenda included such critical topics for Cointelegraph’s readers as the SEC’s “Howey test” for considering cryptocurrencies securities, regulation strategy for Facebook’s…

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