Crypto News 

Congressman says we should be banned from mining, using cryptocurrency

“Congressman Brad Sherman, D-California, believes the government should prohibit U.S. citizens from mining and using cryptocurrencies” writes Mark Coppock for digitaltrends.com. Also brought up during the hearing was the idea of central banks issuing their own digital currency.Cryptocurrency is just a new form of electronic payment that should be embraced and treated like any other form of payment.But U.S. citizens also use a form of digital currency: Electronic payments. Having central banks issue digital currencies is “one of the worst financial ideas of recent times,” he said. Source: digitaltrends.com Share This:

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Crypto News 

UK Will Lead in Crypto-Blockchain Space: Report

“BOE Governor Mark Carney criticized bitcoin and other digital currencies, saying bitcoin has failed as a viable currency and as a store of value” writes Nathan Reiff for investopedia.com. DAG Global CEO Sean Kiernan believes that the traditional financial world of the U.K. is primed to integrate with the digital currency space.He suggests that “the U.K. is a major global financial hub and in recent years has become a fintech leader as well.In order for the study above to come to pass, regulators’ opinions on digital currencies will likely have…

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Crypto News 

Positive ‘price drift’ suggests bitcoin has room to move higher

“Often in the past, sharp moves higher in the price of the No. 1 digital currency have been followed by pullbacks, or at the least, consolidation” writes Aaron Hankin for marketwatch.com. This time, bitcoin has recorded five consecutive winning days and the “price drift,” when an asset drifts in the same direction after a sharp move, suggests there’s more to come for world’s biggest digital currency, analysts say. “All in all, we believe that when we see signs of price drift that it indicates that the current price may not…

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Crypto News 

Switzerland seeks to regain cryptocurrency crown

“Despite the challenges, Switzerland is working on new rules to reassure banks and encourage them to accept the accounts of cryptocurrency companies” writes Midwest Communications Inc for 95kqds.com. “They raised concerns about problems with opening bank accounts, which was a worry for them, and asked for help,” Moser told Reuters.Providing the legal framework to launch ICOs and for banks to do business with cryptocurrency companies is not easy.Another large Swiss bank kicked out crypto project Smart Valor at around the same time, said a person familiar with the project.The bank,…

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Crypto News Regulators 

Fed Chairman Powell says cryptocurrencies present big risks to investors

“Bitcoin, the world’s most popular cryptocurrency, traded 1.5 percent higher at $7,430.01 on Wednesday, according to data from CoinDesk” writes Yuri Gripas for cnbc.com. The head of the Federal Reserve raised concerns about cryptocurrencies on Wednesday, saying they present serious risks to investors.The Fed chairman also said cryptocurrencies are not real currencies because they have no intrinsic value.”There are investor and consumer protection issues as well,” Powell said in front of the House Financial Services Committee.Powell previously commented on crypto last November, when he said that a drop in cryptocurrency…

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Crypto News Regulators 

Fed’s Powell says cryptocurrencies have no intrinsic value

“Federal Reserve Chairman Jerome Powell said Wednesday that digital currencies, like bitcoin, have “no intrinsic value” and are only good if you are trying to hide or launder money” writes Aaron Hankin for marketwatch.com. Speaking in front of the House Financial Services Committee, Powell said that oversight of the digital currency market was not the role of the Fed but more a “consumer protection issue.”.  Source: marketwatch.com Share This:

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Crypto News 

How Regulation Could Help Cryptocurrencies Grow

“And they will help the United States emerge as a wise leader in the regulation of cryptocurrency, which will spur entrepreneurship and innovation in this country” reports hbr.org. Without clear regulations, cryptocurrency innovation in the United States is being stifled.Given the regulatory uncertainty, the United States also risks allowing fraudulent purveyors of cryptocurrencies to drive out the good.And the commonweal suffers, as other countries lure innovators away from the United States by creating rules that make their jurisdictions more hospitable to this growing asset class.But an emergent fourth asset class, cryptocurrencies,…

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Crypto News 

Bitcoin Price Moves Up After Blackrock Vote Of Confidence For Blockchain

“According to Financial News, the company has set up a team from different parts of its business to investigate cryptocurrencies” writes Rakesh Sharma for investopedia.com. The world’s biggest asset manager, Blackrock Inc. (BLK) may be getting into cryptocurrencies and its underlying technology, blockchain.Blackrock is also on record as having said that it was “monitoring” cryptocurrencies and blockchain. (See also: Blackrock Keeping Cryptocurrencies On Its Radar).An endorsement or move by the firm to either invest in cryptocurrencies or utilize blockchain technology could result in significant mainstream traction for both.Blackrock’s chief executive officer, Larry Fink, said…

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Crypto News 

BlackRock CEO Walks Back Talk of Cryptocurrency…

“It was reported that BlackRock was creating a team to enter the cryptocurrency market, but CEO Larry Fink is walking back that talk” writes Jeffrey Francis for livebitcoinnews.com. The CEO of BlackRock, Larry Fink, went onto Bloomberg Television to deny the talk about the company getting involved in cryptocurrency and blockchain technology.Do you think Larry Fink is telling the truth when he says BlackRock is not interested in becoming active in cryptocurrency?. It was reported yesterday that BlackRock was creating a team to move the company into the cryptocurrency sphere. Source:…

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Crypto Markets News 

Bitcoin jumps after report suggests BlackRock is getting serious about the cryptocurrency market

“The price of bitcoin surged Monday after a report said that BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market” writes Ryan Browne for cnbc.com. The prices of ethereum and ripple, the second and third-largest digital assets by market capitalization respectively, also got a boost.The sources also said that BlackRock’s working group will keep a close eye on what its competitors are doing in regard to cryptocurrencies and blockchain.According to one of the sources, the asset management giant will study whether it…

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