Markets News Regulators 

The dollar is at its lowest point since 2014 — and nobody can pinpoint the reason

“The dominant factor in the decline of the dollar index is the strength of the euro, the second largest currency” writes Wolf Street for businessinsider.com. So for the Fed, which is chomping at the bit to raise rates further, the weak dollar is a welcome sight.Over those 14 months, the euro, which had been given up for dead not too long ago, has surged 20% against the dollar.At some point it would get nervous and chime in with the chorus emanating from the Treasury Department and the White House trying…

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Crypto News 

JPMORGAN: Cryptos face a major hurdle even if they become widely accepted as money

“The only area where cryptocurrencies could compete with national currencies as a medium of exchange, according to the bank, is in the black market” writes Frank Chaparro for businessinsider.com. Cryptocurrencies are a bad store of value and a bad unit of account.JPMorgan made that case in a wide-ranging note on cryptocurrencies sent out to clients on Friday.”Only hobbyists are using cryptocurrencies as a medium of exchange, at least for conventional transactions for goods and services.”. A wall of miners seen at the cryptocurrency farming operation Bitfarms in Farnham, Quebec Thomson…

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Crypto News 

Citrix: Research Indicates 50% of Large UK Businesses Have Stockpiled Digital Currency

“The poll revealed that 9/10 (90%) of respondents that do keep a ready stockpile of digital currency stockpile Bitcoin” reports newsbtc.com. More than 1/3 of large UK businesses polled cite concerns that the digital currency will crash (35%) and fluctuating prices (34%) as factors that discourage them from stockpiling digital currencies.While Bitcoin has proven extremely popular, the vast majority of these companies have also invested in additional digital currencies.New research by citrix suggests that 50% of large UK businesses have accumulated a stockpile of digital currency in case of a…

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Crypto News 

GpuShack Drops Bitcoin Support in Favor of Bitcoin…

“Unsurprisingly, these currencies include Bitcoin Cash” writes Jp Buntinx for livebitcoinnews.com. Several companies have dropped Bitcoin payment support over the past few months.It’s good to see them stick with cryptocurrency as an option in general.Newly supported coins include Ethereum, Bitcoin Cash, and Litecoin.Whether any of these three currencies accepted by GpuShack fits that bill, remains to be seen. Source: livebitcoinnews.com Share This:

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News 

Currency traders starting to pick up some hints ahead of the European trading session

“And the two leading currencies on the day are the Japanese yen and the Swiss franc” reports forexlive.com. The Nikkei 225 index turned negative moments earlier, and that’s starting to spook out traders a little – but at the moment other Asian equities are not really affected and the Nikkei is almost back on par (down only by 0.07%).It remains to be seen if we will see things spread over to European equities but if it does, expect risk sentiment trades to pick up further during the day. Even with…

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Crypto News Regulators 

Beware these cryptocurrency dangers, say European regulators

“The regulators outlined multiple dangers for virtual currency investors, namely around volatility and the lack of transparency” writes Aaron Hankin for marketwatch.com. European regulators warned investors Monday about the risks associated with owning virtual currencies.Read: Bitcoin may not be done collapsing, but it has bounced back from worse Where do the risks lie?. Recently, Goldman Sachs said there is a probable chance that most major cryptocurrencies won’t exist within a decade. Source: marketwatch.com Share This:

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Crypto News 

France and Germany Urge Discussions on Crypto Policy at G20 Summit

“High ranking officials from France and Germany have issued a letter urging the finance officials of other nations to discuss the regulatory implications of cryptocurrencies at the upcoming G20 Summit” reports topbitcoin.lv. The document emphasizes the need for a transnational regulatory approach in order to enforce cryptocurrency policy, urging finance officials to discuss issues relating to cryptocurrency policy and enforcement at the upcoming G20 Summit.However, tokens could pose substantial risks for investors and can be vulnerable to financial crime without appropriate measures.The letter also called for a report by the…

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Markets News 

Dollar on track for best week since October, despite global market jitters

“For the week, the index is on track for a 1.2% gain, which is its best since the week ended Oct. 27, according to FactSet data” writes Anneken Tappe for marketwatch.com. The ICE U.S. Dollar Index DXY, +0.08%  , a measure of the buck against a basket of six currencies, was up 0.1% at 90.330.The U.S. dollar’s reasonably stable performance in the face of stock market wobbles that sent jitters throughout financial markets this week is paying off, as the greenback is on track for its best weekly performance since…

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Crypto News Regulators 

ECB wakes up to bitcoin as virtual world seen touching reality

“The European Union has agreed to bring virtual currencies under the jurisdiction of anti-money-laundering legislation, which will require marketplaces to verify the identity of their customers” writes Piotr Skolimowski Carolynn for bloomberg.com. The ECB has its own ways to prevent digital currencies from piggybacking on its financial infrastructure.Earlier this week, ECB President Mario Draghi told the European Parliament that the central bank’s supervision arm is studying the risks digital currencies may pose to banks’ balance sheets.The collateral framework already bans those assets from being used in financial transactions, while central…

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News 

Here are the world’s virtual currency billionaires

“On Monday alone, the prices of many virtual currencies plummeted more than 20 percent, before stabilizing Tuesday” writes The New York for seattletimes.com. With virtual currencies, it is not necessary to disclose your identity, and the system was created by people who were interested in protecting financial privacy.The list suggests that inventing virtual currencies can end up being less lucrative than investing in them.Nearly all of the people on the list either helped found virtual currencies or have been involved with them for years.Forbes magazine identifies 10 virtual-currency billionaires, but…

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