Crypto News 

Egypt’s Central Bank Conducting ‘Feasibility Studies’ Around Digital Currency Issuance

“The central bank of Egypt wants to introduce a digital version of the Egyptian pound to reduce costs, local English language news outlet Amwal Al Ghad reported Dec. 16” writes William Suberg for cointelegraph.com. In line with various authorities in the vicinity, Egypt believes a blockchain-based digital version of its fiat currency can help keep issuance and transaction costs to a minimum compared to coins and banknotes, Amwal Al Ghad notes. Source: cointelegraph.com Share This:

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Crypto News 

Report: CEO of Largest Romanian Crypto Exchange Arrested on US Warrant

“The CEO of Romania’s largest crypto exchange Coinflux was reportedly arrested on a warrant from the United States for fraud, organized crime, and money laundering, local news outlet Mediafax reported Dec. 13” writes Ana Alexandre for cointelegraph.com. Coinflux has subsequently stopped all digital currency exchanges.Following the purported arrest, Coinflux published an announcement saying that the exchange has temporarily suspended all digital currency exchanges, while the company’s bank accounts have been frozen. Source: cointelegraph.com Share This:

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News 

UAE, Saudi Arabia start work on fintech for cross-border settlements

“DUBAI (Reuters) – The United Arab Emirates and Saudi Arabia have started developing fintech for cross-border settlements, including a digital currency project, the UAE’s central bank governor said on Wednesday” writes Midwest Communications Inc for 95kqds.com. For the joint digital currency, the UAE and Saudi central banks have launched a distributed ledger “proof of concept” system to facilitate cross-border settlements, he said.Meanwhile, the UAE central bank has issued regulations for stored value facilities (SVFs), setting out requirements for consumer-focused digital payment services, Mansouri said.The digital currency would be backed by…

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News Regulators 

Euro slips as ECB’s Draghi lowers growth forecast for Europe

“The risks surrounding the euro area growth outlook can still be assessed as broadly balanced” writes Jasper Juinen for cnbc.com. The euro currency has slipped in value after the European Central Bank (ECB) trimmed its growth forecasts for this year and next.Delivering his prepared remarks to reporters in Frankfurt, ECB President Mario Draghi said 2018 growth in the euro area was expected to be 1.9 percent rather than the 2.0 percent forecast in September.The euro/dollar currency pair was at $1.1375 as Draghi begin speaking and fell to $1.1340 following the…

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News 

Canadian City of Calgary Launches Local Digital Currency for Intracity Transactions

“Moreover, Victoria Park, an events and culture district of Calgary, is reportedly offering cash back to shoppers who use the local digital currency” writes Ana Berman for cointelegraph.com. This new move in 2018 allows citizens to download an app and store the digital currency on their devices.Calgary, a city in the Canadian province of Alberta, has launched its own digital currency. As well, the Bank of Thailand has plans to develop a wholesale central bank digital currency that will use blockchain consortium R3’s Corda platform. Source: cointelegraph.com Share This:

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Crypto News 

Bitcoin buyers are trying. But can they give the digital currency another shove?

“The last time the price closed above the 200 hour MA was back on December 3rd” reports forexlive.com. Looking at the hourly chart above, the price yesterday held below the 100 hour MA (blue line) on the Coinbase exchange, BUT found support buyers ahead of previous lows.The price has also not gotten to or above the 200 hour MA at 3518.26 (and moving lower – see green line in chart above).Well, if you read my comments on the digital currency, you know that I firmly believe that if the price…

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Crypto News 

Ukraine’s Former Prime Minister Proposes to Tackle Corruption Using Blockchain

“The former prime minister mentioned blockchain technology as an effective tool for public administration” writes Ana Berman for cointelegraph.com. Ukraine’s former prime minister Yulia Tymoshenko, who is currently running a presidential campaign for the March 2019 elections, wants to tackle corruption using blockchain, according to a recent Facebook post from Sunday, Dec. 9.Tymoshenko has previously called blockchain the ideal technology for combating corruption when she presented at a forum in Kiev last June.According to Tymoshenko, in order to prevent corruption, state registries should be stored on a blockchain. Source: cointelegraph.com Share…

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News 

Foreign investors spurn Treasuries…

“Last week, a section of the curve inverted when the five-year bond yield dropped below two-year and three-year yields” writes Min Read for reuters.com. Higher hedging costs would not have discouraged investors if longer-term bond yields had risen as much as short-term yields.In that case, the ultimate choice appears to be going back to their home markets. “The attraction of U.S. Treasuries investment with a full currency hedge has declined.The picture is similar for euro-based investors. “We won’t buy U.S. Treasuries with currency hedge.TOKYO/LONDON (Reuters) – A worrying sign of…

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Crypto Markets News 

Bitcoin bear market is far from over, says analyst

“Read: UnitedCorp files suit against Bitmain, Roger Ver, Kraken and others over alleged manipulation during Bitcoin Cash hard fork Providing critical information for the U.S. trading day” writes Aaron Hankin for marketwatch.com. Bitcoin prices rallied as much as 10% over the weekend, giving virtual currency owners some respite after another tumultuous week.The market value of all cryptocurrencies is hovering above its 15-month low at $112.5 billion, according to data from CoinMarketCap.After the weekend rally, bitcoin futures are trading higher on Monday.However, after moving above $3,600 on Sunday, the price of…

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