CryptoCurrency News: RAND Report: Timing Essential for Blockchain Standards

The European wing of the RAND Corporation, a US think tank, has argued for a slow-and-steady process for developing possible blockchain standards.

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CryptoCurrency News: China Renaissance CEO: Blockchain More Important Than Bitcoin

The head of a Chinese investment bank says he believes bitcoin's underlying technology is more important than the cryptocurrency itself.

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CryptoCurrency News: AMD Sees Long-Term 'Leveling Off' in Cryptocurrency Mining Demand

Cryptocurrency mining continues to push AMD's revenue higher, but the graphics card manufacturer's CEO believes that could level off soon.

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[FOREX NEWS] USD/CAD at the highest in 3 months – levels to watch

The Bank of Canada giveth, and the Bank of Canada taketh away. After raising rates in two consecutive decisions, the tightening cycle screeched to a halt, or perhaps even a full stop. USD/CAD was already on the rise since it traded at the 1.20 handle after the second rate rise in September but the move [...]

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SoKor Central Bank Chief: Bitcoin Is a Commodity Not a Currency

The head of South Korea's central bank has ruled out classifying bitcoin as a currency, arguing that cryptocurrencies are a form of commodity instead.

According to Seoul-Yonhap News, Bank of Korea governor Lee Ju-yeol rejected the idea when asked on Monday whether it's possible to accept cryptocurrencies as legal fiat. The declaration is the latest official assessment on the tech following a ban on initial coin offerings.

"Regulation (for virtual currencies) is appropriate because it is regarded as a commodity, not at the level of legal currency," Lee said during an audit of the government by the National Assembly, the country's legislative body.

"It is not a situation for the Bank of Korea to take such an action at the present," he added.

That Lee would throw his weight behind legislative solutions to regulating the space is notable, given that work in this area has already advanced in some form.

Back in August, some lawmakers argued for tightened regulations to apply to cryptocurrency exchanges in South Korea in light of the spiking trading volume since earlier this year. Last month, the country's financial regulator also took a notable move in cracking down on activities around the ICO funding model.

During the legislative session, Lee also acknowledged that the central bank could do more on research around both cryptocurrencies as well as blockchain more generally.

"We also refer to a lot of virtual currency research conducted in countries like Sweden. The Bank of Korea will also put more emphasis on virtual currency research," he was quoted as saying.

[FOREX NEWS] CAD: A Move To A More Dovish Stance By BoC – CIBC

The Bank of Canada sent Dollar/CAD to 1.28, the highest level since July on its cautious approach. What’s next? Here is the view from CIBC: Here is their view, courtesy of eFXnews: CIBC Research comments on today’s BoC October policy decision: “The Bank of Canada is highlighting that a stronger Canadian dollar is already weighing [...]

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CryptoCurrency News: City of Tokyo Announces Blockchain Startup Accelerator

The government of Tokyo is organizing a new blockchain-focused startup along with Japanese think tank NRI.

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CryptoCurrency News: Room for More? Bitcoin Cash Defends Price Amid Competition

The markets appear to be showing appetite for multiple forked versions of bitcoin, or so the bitcoin cash price would suggest.

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South Korean Firmtech Dunamu Launching a Cryptocurrency Exchange

South Korean fintech firm Dunamu, operator of the securities trading app Kakao Stock, is gearing up to launch a new cryptocurrency exchange.

Set up in partnership with the U.S.-based exchange Bittrex and currently in open beta testing mode, Upbit will support the trading of over 110 tokens from 171 different markets. Anticipated by Dunamu to be the largest cryptocurrency exchange in the country when fully launched, Upbit is set grow the number of cryptocurrencies that can be directly traded for Korean won, and will "gradually" add new digital currencies to the platform.

The open beta period, which kicked off yesterday, will enable users to access Upbit's services via Android and iOS platforms, as well as on desktop computers, according to BusinessKorea.

According to Song Chi-hyung, CEO of Dunamu, Upbit is aiming to offer services optimized to the domestic trading environment.

He said:

"With the partnership with Bittrex, we are not only able to support the largest number of digital currency trading services but also have addressed problems such as inconveniences of existing altcoin investment, time delays and complicated account management."

Open beta access is initially being provided to users who pre-registered via invitations sent out over the KakaoTalk app, BusinessKorea indicates. Other users will have to wait until the invitation period is over.

[FOREX NEWS] Canadian dollar falls on BOC rate decision – USD/CAD hits high resistance

The Bank of Canada decided to leave the interest rate unchanged at 1% as expected and seems to be in no rush to raise rates anytime soon. They talk about “caution” regarding further hikes even though other statements are relatively upbeat about the economy. The BOC sees the economy as running close to its potential [...]

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CryptoCurrency News: Hong Kong, Singapore to Collaborate on DLT Trade Finance Platform

Hong Kong's banking authority has announced a new collaboration with Singapore aimed to digitize trade finance with distributed ledger technology.

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CryptoCurrency News: Back Above $5,500: Bitcoin Shrugs Off Fork with Price Rebound

The price of bitcoin is trending up after a fork yesterday – but where is it headed?

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[FOREX NEWS] US durable goods orders beat with 2.2% – USD up

US durable goods orders were expected to rise by 1% in September after 2% in August (before revisions). Core orders were predicted to advance by 0.5%, exactly as in the previous month. The US dollar was quite mixed ahead of the publication. The greenback gained against the yen and also countered commodity currencies, especially the [...]

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CryptoCurrency News: SPECTRE Creators Seek Millions to Launch Blockchain-Free Cryptocurrency

A veteran researcher behind two influential papers in the emerging field of crypto-economics is gearing up to launch a new cryptocurrency.

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[FOREX NEWS] ECB Taper time, but of what type? 3 scenarios

The European Central Bank is set to announce a reduction in its bond-buying scheme which currently stands at 60€ billion / month through 2017. The big question is: to how much and for how long? Speculation is rife and tension is building towards the event that should unleash some volatility in the sleepy euro. Here [...]

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CryptoCurrency News: NYU's 'Dean of Valuations' Says Bitcoin Is a Currency, Not an Asset

Aswath Damodaran, a professor of finance at the NYU's Stern School of Business, has spelled out why he believes bitcoin is a currency, not an asset.

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CryptoCurrency News: Making 'Boring' Bonds Sexy: NSD Attracts Interest with Hyperledger Test

Russia's National Security Depository is seeing an unexpected benefit of blockchain that could turn into a new source of revenue: publicity.

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CryptoCurrency News: Fraudsters Post Fake Poloniex Crypto Trading Apps to Google Store

Security researchers have discovered several fraudulent apps on the Google Play store purportedly tied to the Poloniex cryptocurrency exchange.

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[FOREX NEWS] UK Q3 GDP beats with 0.4% q/q – GBP rises

Some good news from the UK: the economy grew at a quarterly pace of 0.4% in the third quarter, beating expectations and the slow growth rate seen in the first half of the year. Year over year, the economy grew by 1.5%, also above forecasts. Will this cement the rate hike in next week’s all-important [...]

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CryptoCurrency News: Ontario Securities Regulator Approves TokenFunder ICO

The Ontario Securities Commission is allowing startup Token Funder to launch a regulated initial coin offering (ICO) next month.

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[FOREX NEWS] German IFO business climate beats with 116.7 – EUR/USD rises

Germany’s No. 1 Think-Tank, IFO, was expected to show no change in the headline business climate measure: 115.2 in October, identical to September. Business Expectations carried expectations for a drop from 107.4 to 107.3 points. The Current Assessment was predicted to slip from 123.6 to 123.5. Yesterday’s  German manufacturing PMI beat expectations, showing robust growth. [...]

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CryptoCurrency News: The 'Wolf of Wall Street' Thinks ICOs Are a Scam

Initial coin offerings (ICOs) are the "biggest scam ever," according to Jordan Belfort, better known as the "Wolf of Wall Street."

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CryptoCurrency News: DEA Report: Bitcoin Used for Trade-Based Money Laundering

The Drug Enforcement Agency said bitcoin is helping criminal organizations launder money to China in its latest threat assessment report.

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CryptoCurrency News: Tezos Founders on ICO Controversy: 'This Will Blow Over'

In their first public appearance since Tezos' governance issues made headlines, Kathleen and Arthur Breitman projected confidence in the ICO project.

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[FOREX NEWS] AUD/USD falls to the lowest in 3 months on poor inflation

Inflation is absent in almost all developed economies and Australia is not an exception. The headline Consumer Price Index advanced by 0.6% in Q3, lower than 0.8% expected. The Trimmed Mean CPI (known as core CPI in other places) also failed to impress with an increase of 0.4% q/q against 0.5% projected. Year over year, [...]

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