Japan's Financial Services Agency...payment services law, passed in April this year, which set out operational standards for exchanges, as well as recognizing bitcoin as a form of legal tender. Japan's Financial Services Agency (FSA) will reportedly place cryptocurrency exchanges under "full surveillance" starting from next month, a news report indicates. According to the Japan Times, the increased scrutiny is aimed to ensure that the companies comply to the revised payment services law, passed in April this year, which set out operational standards for exchanges, as well as recognizing bitcoin as a form of legal tender. An FSA executive reportedly indicated the surveillance is intended both to regulate the exchanges and to ensure the healthy growth of the cryptocurrency market,...
JP Morgan Reported to Swedish Financial Supervisory Authority for Market Manipulation After Chief Executive’s Public Statements Against Bitcoin Just recently JP Morgan Chase chief executive Jamie Dimon got the cryptocurrency community all riled up when he called bitcoin a “fraud.” Further, after Dimon’s statements and bitcoin markets slumped, JP Morgan Securities Ltd., purchased a bunch of bitcoin-based exchange-traded notes for its clients. Now according to reports, an algorithmic liquidity provider headquartered in London called, Blockswater says Dimon breached certain statutes from the European Union’s Market Abuse Regulation (MAR) articles. JP Morgan Chase Chairman and CEO, Jamie Dimon might get in trouble for calling Bitcoin a ‘Fraud’ while his firm JP Morgan Securities Ltd. bought
Google ‘Accepts’ Bitcoin With Payments API Update It looks like Google has finally jumped on the Bitcoin bandwagon. In a new update to its popular Payment Request API, the tech titan added the ability to request bitcoin payments. This news came with little fanfare, just a small blip in a much larger API update from Web Fundamentals contributor Matt Gaundry. The update mainly consisted of a tutorial on how to use the new features of the update. Towards the bottom of the blog post, Gaundry explained how the API can be used: “Invalid Currency: The currency code must be three uppercase characters; passing in anything else will throw an error. ‘Payment Request’: ‘…’ is not a valid ISO 4217 currency code, should be 3 upper case letters [A-Z] You can pass in any three chara
Though Bitcoin was created eight years ago, the currency is just starting to attract largescale mainstream attention. The digital currency uses Blockchain technology for a safer and more efficient way of transacting online without the use of banks or credit cards. In an interview by PBS, Don Tapscott discusses potential uses of Blockchain technology. Tapscott is the co-author of the book entitled “Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.” Watch the interview below: Pundits and investing professionals have called Bitcoin a bubble, since the price has increased an unbelievable 700% over the past year. While many wonder if such growth is is sustainable, Tapscott explains that the technology that powers Bitcoin is
Price Analysis Many experts have called the stupendous rally in the cryptocurrencies as a bubble. Notwithstanding, the digital currencies have continued their uptrend. However, as we know, nothing can go up for ever. Gravity will catch up and there are bound to be corrections in between, which will offer a good entry point again. However, sometimes the corrections can be unnerving and can cause a large dent to the portfolio. So, has the time come to cash in some profits and be ready for a downturn or is this another of those consolidations that will breakout on the upside? Let’s see the charts and try to forecast. BTC/USD Buyers continue to support Bitcoin close to the trendline support of the ascending channel. However, bears are attempting to defend the $4695 level, w
The Isle of Man is opening its doors to entrepreneurs looking to launch initial coin offerings (ICO). In an interview today, Brian Donegan, head of operations for fintech and digital development at the Isle of Man's Department of Economic Development, told CoinDesk that the British Crown dependency has created a regulatory framework it believes will allow for token sales that are compliant with anti-money laundering and know-your-customer regulations. The Isle of Man's government has yet to formally announce the development, though it's been moving in this direction for some time. The framework itself is based on anti-money laundering rules put in place in 2014 and 2015, Donegan said. While regulators in places like Canada have offered some on-ramps for...
Bitcoin Price Drops to $4,300, What’s Next: Factors and Trends 42859 Total views 436 Total shares when moon Subsequent to achieving a new all-time high at $4,975 merely two days ago, Bitcoin price has decreased to around $4,350. Many analysts including Welt financial desk senior editor Holger Zschaepitz attributed the decline in Bitcoin price to China’s recent crackdown on initial coin offerings (ICOs). SegWit working its magic yet? Over the past week, prominent financial analysts such as RT’s Max Keiser predicted Bitcoin price to increase at an exponential rate in consideration of the successful integration of the Bitcoin Core development team’s transaction malleability and scaling solution Segregated Witness (SegWit). Through SegWit, the Bitcoin
The cryptocurrency market is a sea of red today, a development skeptics will no doubt quickly use to make the case against bitcoin as a 21st century gold. In times of economic or political stress, investors prefer to hold safe haven assets, and while many experts believe bitcoin is the new safe haven, today's dismal performance contradicts such claims. The cryptocurrency dropped 5 percent over the last 24 hours, even while North Korea's nuclear test and heightened geopolitical tensions pushed up traditional safe haven assets like gold, Japanese Yen. Overall, bitcoin (BTC) clocked an intraday low of $4,253 earlier today, and was trading around $4,335 levels on news China has banned initial coin offerings, one of the main trends powering this year's boom. Still, the price declin...
A US Homeland Security official has said Bitcoin is “a lot more legitimate” as dark web users move away from the virtual currency. Speaking in an interview with CNBC, the unnamed official said criminals were shying away from Bitcoin as law enforcement was “getting a lot better” at tracking them. "I think [Bitcoin]'s a lot more legitimate than people give it credit for," the official added. The issue of Bitcoin’s anonymity has long been a sticking point for illegitimate actors operating via the dark web, with more stealthy cryptocurrencies such as Monero seeing increasing numbers of Bitcoin refugees from the internet underworld. Teaming Bitcoin with “legitimacy,” however, marks a turning point in official rhetoric from US state organs, which have overwhelmingly sided with tho
A UK-based startup has announced an ethereum-powered platform aimed to reward users for sharing their transport data. DOVU, which reportedly already has notable investors on board, plans to create a secure environment for individuals and companies to share any data relating to mobility – such as location, distance traveled and weather conditions. ADVERTISEMENT According to TechCrunch, the startup has already received an undisclosed amount of funding from InMotion Ventures, an investment arm of automaker Jaguar Land Rover, and Creative England, a fund backed by the U.K. government for the support of creative industries. The data collected will be used to create more efficient services, such as combining "car data with insurance data to calculate smarter policies" or "geo