Cryptocurrencies Will Not Replace or Disrupt Fiat Systems

The People’s Bank of China (PBoC) has shown extreme confidence in the superiority of fiat systems over cryptocurrencies. China’s central bank refused to acknowledge blockchain and its derivatives as catalysts for financial innovation. Stating that no technology was able to disrupt the monetary system, the bureau believed that blockchain would not make any substantial difference in the ways conventional financial protocols govern. It further added that blockchain assets like Bitcoin would remain inflexible and without intrinsic value-credit collateral. The comments came as a part of a 20,000-word research paper published…

Younger Germans More Inclined to Invest in Cryptocurrencies

More than a quarter of younger Germans is ready to buy cryptocurrencies, according to a recent poll by the German Consumer Centers of Hesse and Saxony published Monday, Nov. 5. Consumer Centers are non-profit, government-backed agencies organized at state level unions. They focus on consumer protection in addition to providing advisory services. The centers of two German federal states, whose populations total over 10 million people, have conducted a joint survey among internet users. According to the local business media Wirtschaftswoche, the survey polled 1,000 Germans between the ages of…

Coinbase raises Series E round of financing to accelerate the adoption of cryptocurrencies

At Coinbase, we believe that cryptocurrencies and the technologies that power them represent a breakthrough in computer science that will change both the internet and the global financial system for the better. We see tremendous promise in crypto to build the next great phase of the internet (often referred to as Web 3), which has the power to put control back in the hands of consumers, unleash a new era of innovation, and offer greater access to economic opportunities to more people around the world. Today, we’re pleased to announce…

Indian Officials Consider Ban on “Private Cryptocurrencies”

Agents of the Indian government have met to formally discuss a possible ban on private cryptocurrency holdings in the nation. On October 30, 2018, the Financial Stability and Development Council (FSDC) issued a press release detailing their recent meeting where they “reviewed the current global and domestic economic situation and financial sector performance.” The council seemed deeply concerned about “the need for identifying and securing critical information infrastructure,” under the guise of “strengthening security in the financial sector.” To this end, the report mentioned a deliberation “on the issues and…

Coincheck Reopens New Signups, Deposits and Withdrawals of ‘Some’ Cryptocurrencies

Monex Group, the Japanese internet broker that purchased hacked cryptocurrency exchange Coincheck, announced it had reopened new account signups and limited trading in a statement Tuesday, Oct. 30. The latest phase of a step-by-step reboot of Coincheck, Monex added users could also begin depositing and purchasing certain cryptocurrencies. “…Here we announce that Coincheck has resumed ‘new account openings’ and ‘customers’ depositing and purchasing some cryptocurrencies’ services today,” the statement reads. Monex purchased Coincheck for around $33.5 million in April, outlining plans to relaunch the exchange in full compliance with local…

BREAKING: Coinbase raising pre IPO at $8bn Valuation

CNBC CRYPTOTRADER EXCLUSIVE: Coinbase raising Pre IPO funds. – Why is Steve Wozniak excited about Crypto. – Tim Draper – why the market isn’t moving – Adam Draper – is he selling his Coinbase Shares now? – Dan Morehead – How are fund navigating this Cryptowinter – Equities Crash in November – Good for Crypto UCN9Nj4tjXbVTLYWN0EKly_Q Source link

Central Bank-Issued Cryptocurrencies Are the ‘Inevitable Future’

The CEO of Dash Core Group, Ryan Taylor, told Cointelegraph in an interview Oct. 23 that  central bank-issued cryptocurrencies are the “inevitable future,” but it will be people who “will decide what form of money they want to consume and use as part of their lives.” Speaking with CT during the Money20/20 conference, Taylor stated that central banks have certain advantages in issuing their own cryptocurrencies, but questions remain as to what form will it take and how the market will react. Taylor noted that the “free market can ultimately…

Report: Cryptocurrencies Should Be Governed by Current EU Financial Laws

The Securities and Markets Stakeholder Group (SMSG) has released a new report suggesting that the European Securities and Markets Authority (ESMA) recommend to the European Commission that it regulate the cryptocurrency space with existing legislation rather than instilling new rules and laws. The report specifies that most crypto assets are covered by the Unfair Commercial Practices Directive, which regulates unfair business practices in the European Union and requires corresponding laws to be passed that incorporate it into each member state’s legal system. However, cryptocurrencies are covered only in the sense…

Minting the Future of Cryptocurrencies

In 2009, Bitcoin was ushered in as an alternative to fiat currency, promising to revolutionize the future of peer-to-peer spending. Since then, it has spawned scores of other cryptocurrencies with various value propositions and potential. The meteoric growth of cryptocurrencies underscores the role of tech innovation in fueling the future of value exchange. Now, there’s talk of a new era of blockchain tools to assist individuals in creating their own digital coins. Users would then have the ability to transfer or exchange these coins for other cryptocurrencies they find valuable.…