Wednesday, November 15, 2017

CryptoCurrency News: 'Big Four' Firm KPMG Joins Blockchain Advocacy Group

'Big four' consulting firm KPMG has announced it is joining the industry trade group, the Wall Street Blockchain Alliance.

via CoinDesk

India's Supreme Court Calls on Government to Regulate Bitcoin

The court asked India's central bank and several government agencies to respond to a petition that expressed concern about tax dodges and ransomware.

The Indian Supreme Court has asked the government to respond to calls to regulate bitcoin.

Three justices issued a notice to the central bank, the market regulator, the tax department, and several other agencies, asking them to answer a petition on the matter, the Hindu, an Indian newspaper, reported Tuesday.

The original petition to the court expressed concern that bitcoin can be used to conduct transactions across borders without a trace, making it an attractive tool for ransomware attackers and tax cheats.

According to the petition:
"The lack of any concrete [control] mechanism pending the regulatory framework in said regard has left a lot of vacuum and which has resulted in total unaccountability and unregulated Bitcoin (crypto money) trading and transactions."

The petition goes on to state that bitcoin exchanges in India add 2,500 users per day, and that some 500,000 residents now hold bitcoin. As of 3:00 p.m. Eastern on Wednesday, the exchange rate between Indian rupees and bitcoin was more than 470,000.

As a result of its adoption, bitcoin usage may affect "the market value of other commodities," according to the petition, which pleaded with the court for an "urgent direction" for the government to intervene.

The petition noted that some countries are beginning to either regulate or ban bitcoin, citing China's crackdown on exchanges and Russia's attempts to block bitcoin websites.

India has typically adopted a "wait-and-see" stance on cryptocurrencies, discussing their role in the world's largest democracy but not taking concrete steps to regulate or prohibit them.

In April, the government formed a committee to study cryptocurrencies and propose new regulations.

Source: CoinDesk

CryptoCurrency News: Tezos Founders Hit With Second Class Action Suit

A second class action lawsuit has been filed against the founders of blockchain startup Tezos, alleging violation of U.S. securities law.

via CoinDesk

CryptoCurrency News: Brokerage Chief: Bitcoin Futures Must Be Quarantined

A well-known electronic brokerage firm is issuing dire warnings against the CME Group's plan to launch a bitcoin futures contract next month.

via CoinDesk

CryptoCurrency News: Fujitsu Eyes Cryptocurrency Trading With Cross-Blockchain Payments Tech

Japanese IT firm has unveiled a new payments technology designed to facilitate transactions between blockchains.

via CoinDesk

CryptoCurrency News: Alleged Bitcoin Launderer Faces Extradition Hearing Next Month

An alleged money laundered tied to the BTC-e bitcoin exchange and wanted by both Russia and the U.S. will attend an extradition hearing next month.

via CoinDesk

CryptoCurrency News: Wealth Manager Canaccord: ICOs Could Become Commonplace

Initial coin offerings (ICOs) could one day come to be seen as similar to inital public offerings (IPOs), according to a new report.

via CoinDesk

CryptoCurrency News: Parity Team Publishes Postmortem on $160 Million Ether Freeze

Parity has released new details on how a critical code flaw resulted in the freezing of $160 million worth of ether.

via CoinDesk

CryptoCurrency News: Prudential, StarHub to Launch Blockchain Trade Platform In Singapore

Insurance giant Prudential has partnered with Singapore telco StarHub to launch a new blockchain-based digital trade platform for enterprises.

via CoinDesk

[FOREX NEWS] USD: Stalled; Most Of Good News On US Tax Cuts Look Already Incorporated – Barclays

The US dollar is on the back foot due to some safe-haven flows. But what about the main driver of the greenback? The team at Barclays examines the tax cuts issues. Here is their view, courtesy of eFXnews: Barclays Capital FX Strategy Research discusses the USD near-term outlook, noticing that its momentum has stalled after [...]

The post USD: Stalled; Most Of Good News On US Tax Cuts Look Already Incorporated – Barclays appeared first on Forex Crunch.

via Forex Crunch

CryptoCurrency News: You Want Democracy? Try a Hard Fork

The mere option of forking not only empowers cryptocurrency users when they leave a project, but also when they stay, writes Taylor Pearson.

via CoinDesk

CryptoCurrency News: Code Name Babylon: Cobalt Is Spinning Off a New Blockchain Subsidiary

Distributed ledger startup Cobalt is seeking to spin off part of its technology in a bid to win ground in a wider variety of enterprise use cases.

via CoinDesk

[FOREX NEWS] US core CPI rises to 1.8%, retail sales mixed – USD wobbles

Mixed data from the US: core CPI is up to 1.8% y/y, better than expected. On the other hand, the control group of the retail sales misses with 0.3%, below expectations. The retail sales numbers are accompanied by upward revisions while most inflation numbers are bang on expectations. The USD slightly stronger in the immediate [...]

The post US core CPI rises to 1.8%, retail sales mixed – USD wobbles appeared first on Forex Crunch.

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[FOREX NEWS] GBP/USD weakness exposed – cannot rise on good data

The level of unemployment remains at record low levels: a jobless rate of 4.3% in September. What about wages? These rose by 2.2%, better than had been expected. In addition, the previous figure for August was revised up to 2.3%. In addition, the Claimant Count Change for October showed a very modest rise: 1.1K, better [...]

The post GBP/USD weakness exposed – cannot rise on good data appeared first on Forex Crunch.

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CryptoCurrency News: Turning Tide? Bitcoin Tests $7,000 As Price Pushes Higher

Analysis of the bitcoin price charts suggests the tide is slowly turning in favor of the bulls, although $7,000 could be a stumbling block.

via CoinDesk

CryptoCurrency News: Square's Cash App Pilots Bitcoin Buying and Selling

Some users of Square's Cash App have quietly been given the option to buy or sell bitcoin within their accounts, according to reports.

via CoinDesk

[FOREX NEWS] EUR/USD conquers one resistance level at a time

EUR/USD is trading around 1.1840, just under the 1.1850 resistance line. It had earlier conquered the 1.1780 level and settled there for a while before moving forward. And before that, euro/dollar was struggling with 1.1670 before making the clear break. All in all, EUR/USD is not only making a big move to the upside, but [...]

The post EUR/USD conquers one resistance level at a time appeared first on Forex Crunch.

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CryptoCurrency News: SecureKey Taps IBM Blockchain for Digital Identity System Launch

Canadian startup SecureKey has revealed it will soon launch an ID verification system built with IBM Blockchain.

via CoinDesk

CryptoCurrency News: Shitshow or Success? Bitcoin Gold's Launch Has Been Anything But Smooth

Following user confusion and controversy, many in the bitcoin gold community, including developers, think the new cryptocurrency is running smoothly.

via CoinDesk

CryptoCurrency News: Blockchain Advocacy Group Launched in Wyoming

The Wyoming Blockchain Coalition launched on Tuesday, and aims to encourage companies to use the technology in the Equality State.

via CoinDesk

CryptoCurrency News: UK Hedge Fund Eyes Cryptocurrencies On Heels of CME Futures Plan

British hedge fund Man Group's CEO Luke Ellis told Reuters Tuesday that the company would add bitcoin to its investment portfolio.

via CoinDesk

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