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Cryptocurrencies


A financial institution operated by the world’s central banks is taking aim at cryptocurrencies, questioning their ability to deliver on their promise in a new report published Sunday morning. The document, titled “Cryptocurrencies: looking beyond the hype” and released by the Bank of International Settlements (BIS), explains the history behind the technology and analyzes whether …

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The Bank of International Settlements (BIS) is dedicating two chapters of its forthcoming annual economic report to cryptocurrencies. BIS – considered to be the central bank’s central bank – will publish those two chapters this weekend on June 17, the institution announced this week. The full report will be published on June 24. The upcoming …

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New York Department of Financial Services superintendent Maria Vullo defended her office’s approach to regulating cryptocurrencies on Thursday. Speaking at the Center for Foreign Relation’s “Legal Tender? The Regulation of Cryptocurrencies” panel in New York on Wednesday, Vullo said that her view is “regulation in this space, just like any space where you have money …

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Bitcoin’s failure to scale the $10,000 mark and the following 19 percent slump did not bode well for the cryptocurrency markets last month. The total market capitalization of all cryptocurrencies fell to $304 billion on May 29 – the lowest level since April 13 and a drop of 26 percent for the month, according to …

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The cryptocurrency markets are set to end the second week of May on a low note. The total market capitalization for all cryptocurrencies fell below $400 billion for the first time since April 26 on Friday, and has dropped 15.97 percent week-on-week. As of writing, the combined market value stands at $385 billion and could see …

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Two officials at the Commodity Futures Trading Commission (CFTC) spoke about regulating cryptocurrencies this week, stressing the need for cooperation between their agency and another powerful U.S. regulator, the Securities and Exchange Commission (SEC). Speaking at the FIA Law and Compliance conference in Washington, D.C., on Wednesday, commissioner Brian Quintenz spoke about “an effort that …

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Alternative cryptocurrencies shone brightly in April, as the markets regained poise following a miserable first quarter. In a sign of that recovery, the value of the total crypto market increased by 63 percent to $431 billion, according to CoinMarketCap, and as the final tallies prove, there were gains to be had for savvy traders willing …

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A key committee in Arizona’s House of Representatives has given its blessing to a bill that would clear the way for the state to accept cryptocurrencies as payment for taxes. The House Rules Committee voted to approve the measure – which as CoinDesk previously reported has been subject to revision – on Monday, ending what …

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The crypto market is finally showing signs of life after a painful first quarter. The total value of all cryptocurrencies, also known as total market capitalization, jumped above $300 billion on Thursday and was last seen at $325 billion, the highest level since March 26, according to CoinMarketCap. Also, the total market capitalization has jumped 31 …

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Arizona’s cryptocurrency tax payments bill is being reworked, according to one of its sponsors, with the hope of putting it forward for a vote in the coming weeks. In an interview with CoinDesk, Arizona Representative Jeff Weninger detailed the work being done on the measure, which, as previously reported by CoinDesk, would allow residents in …

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Are all initial coin offerings (ICOs) bad? “Absolutely not,” according to SEC chairman Jay Clayton. Clayton’s remark came during a talk on “Cryptocurrency and Initial Coin Offerings” at Princeton University Thursday, with that specific comment referencing his agency’s enforcement actions against the founders of projects that have run afoul of the U.S. securities laws his agency …

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Privacy-focused cryptocurrency verge (XVG) has been in the news for all the wrong reasons in the last 24 hours, but the technical charts indicate better times may lie ahead. Notably, the verge chain was attacked yesterday, with the hacker reportedly making off with $1 million-worth of tokens. The issue was first brought to notice by a user …

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Canada’s Bank of Montreal (BMO) will no longer allow customers to buy cryptocurrency using Interac debit cards. A spokesperson for the bank confirmed the move in an email to CoinDesk Tuesday, without giving an explanation. The Interac ban follows reports that the bank barred crypto purchases through Mastercard debit and credit cards weeks ago. In …

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A proposal to allow residents in the U.S. state of Georgia to pay their taxes in cryptocurrency has stalled – at least for now. Put forward in February, Senate Bill 464 would, if passed, mandate that the state’s revenue office accept bitcoin and other cryptocurrencies as a form of payment. Yet according to Senator Mike …

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The crypto markets had a rough ride in the first quarter of 2018, with just a few tokens bucking the downtrend. The buying frenzy seen at the turn of the year quickly ran out of steam in the first half of January, and what appeared to be a healthy pullback soon turned into a bear …

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Pete Rizzo is editor-in-chief for CoinDesk. It’s been a rough month for Mark Zuckerberg. In the fallout from the Cambridge Analytica fiasco, in which it was found a third-party data provider was mining user information on behalf of political groups, Facebook and its founder have faced an outcry of criticism over the company’s role as …

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A Dutch court classifies Bitcoin as a “transferable value” after the court ruled in favour of a plaintiff who was owed 0.591 Bitcoins (BTC), according to a court document published March 20.   The claim was filed in a Dutch court by Mr. J.W. de Vries on 2 February 2018 against Koinz Trading BV, a non-public …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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Over $6.2 mln (662.4 mln yen) of cryptocurrency was lost in 2017 due to fraud and theft, according to statistics released from Japan’s National Police Agency (NPA), local news outlet Nikkei reports today, March 22. This number does not include the over $500 mln hack of NEM from Japanese crypto exchange Coincheck in late January. …

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A group of financiers will create a “complimentary global currency” subject to random identity checks and pegged to fiat, Financial Times reports March 22. Discussing plans for Saga, which will feature a Swiss foundation and advice from various banking figures, chairman of JPMorgan Chase International and ex-governor of the Bank of Israel Jacob Frenkel said …

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