Crypto news, Latest news, news and events about cryptocurrencies.
Crypto news, Latest news, news and events about cryptocurrencies.
In this post we can appreciate some of the news, innovations, most outstanding innovations of the week related to the world of cryptocurrencies, bitcoin, Ether and others.
Today we can find:
-Drop in the price of Bitcoin could start to fall below US $ 6000
-Swiss bank will open accounts to companies focused on cryptocurrencies and blockchain-
-Coinbase acquires broker agency-
-Twitch streamers can receive tips in up to four cryptocurrencies-
-New York considers creating a supervision group for the cryptocurrency market-
-NEWS
Drop in the price of Bitcoin could start to fall below US $ 6000
Again the bears come out triumphant in the Bitcoin market, after a drop of around 10% of the value of the king of cryptocurrencies over the last 36 hours, threatening to touch funds under US $ 6000 per unit.
The price of Bitcoin depreciated close to 10% on Sunday, reaching its lowest point in the last two months at US $ 6619 per token in Bitfinex after a couple of weeks trading in the range of US $ 7000 and US $ 7800 .
Apparently, this steep decline in its price was due to the attack that received the important South Korean exchange Coinrail, again raising serious concerns about the vulnerability and lack of regulations of the cryptocurrency markets.
However, this aggressive movement of the market was to be expected, since this is what usually happens after an extended period of consolidation or low volatility, although it is impossible to predict in which direction such a movement will take place.
Also, this sharp drop would represent a serious problem for the Bitcoin according to technical analysis, being a major break from the low price volatility of the last 4 months that could even mean a fall below US $ 6000 per unit.
As we can see in the graph, the prices closed well below the previous flag, which would imply a bearish break of the pattern of pennants that had been presented, in addition to showing a bearish pattern in the moving averages of 5 and 10 weeks, and a RSI below 50%; all signs of a downward movement in the near future.
In this sense, Bitcoin apparently will continue its decline in the coming weeks, with critical supports at the levels of US $ 6000, US $ 4496 and US $ 3300, although minor rallies towards the high are to be expected in the near future .
NEWS-
-Swiss bank will open accounts to companies focused on cryptocurrencies and blockchain-
The banking institution 'Hypothekarbank Lenzburg' became the first in Switzerland to enable the opening of bank accounts to companies specializing in cryptocurrencies and Blockchain technology.
The CEO of the entity, CEO Marianne Wildi, pointed out that:
"As a bank that is technologically established in today's market and pursues a cooperative strategy in the field of Fintech, it is also a matter of credibility to work together with the growing sector of cryptocurrency companies and blockchain technology in Switzerland."
Regarding the crimes of money laundering and other crimes associated with the launch of ICOs (Initial Offers in Cryptocurrencies), Wildi commented that the bank has been evaluating the big picture, as well as establishing precise measures to prevent these cases that are in compliance. with the regulations established by the Supervisory Authority of the Financial Market in Switzerland (FINMA).
In this regard, it should be noted that the Hypothekarbank is very select when it comes to choosing and accepting new clients or business partners. In fact, the entity requires an arduous list of requirements before proceeding with the opening of any account. So far, he has only welcomed two companies in the digital coin industry.
The Canton of Zug of the Swiss Confederation has become one of the most sought-after tax havens by investors in the decentralized digital market; However, despite the influence of trade, banking policies have forced many cryptocurrency companies to look for other territories that offer more flexible banking services.
Other regions in Europe, such as the Principality of Liechtenstein, have also fulfilled their role as financial haven for companies wishing to develop Fintech initiatives. Also, during the first quarter of the year, the government of the region established beneficial measures for the Blockchain technology sector, as well as cryptocurrencies.
-NEWS
Coinbase acquires broker agency
The Coinbase cryptocurrency service announced today that it has recently acquired Keystone Capital Corp, a financial firm based in California, in a move that will clear the way for it to operate as a stockbroker.
The acquisition places the San Francisco company on a firmer regulatory footing with the Securities and Exchange Commission and, in turn, positions it to offer traditional shares and a wider range of values based on Blockchain.
Although Coinbase is the largest cryptocurrency exchange in the United States, it currently only offers four types of cryptocurrencies, including Bitcoin and Ethereum. The limited selection reflects the company's cautious approach at a time when the SEC had indicated that it considered most of the cryptoactives to be securities to be recorded.
Coinbase described the reasons for the acquisition in a blog post released today:
"Ultimately, we can imagine a world in which we can even work with regulators to integrate existing types of securities, bringing to this space the benefits of cryptocurrency-based markets, such as 24/7 trading, settlement in real time and the chain of titles. We believe that this will democratize access to capital markets, both for companies and for investors, reducing costs for all participants and providing additional transparency and inclusion to the ecosystem."
The measure in question is important because it puts Coinbase in a position to sell any cryptocurrency registered as collateral in the future; and also to offer traditional financial products, such as stocks, to its millions of customers. The acquisition also coincides with a boost from the company to expand its professional trading platform, which recently changed its name to Coinbase Prime.
Under federal law, companies that buy and sell securities must register as a national exchange or be covered by an exemption. One of the most common is that companies qualify as an Alternative Trading System (ATS), which usually requires registering as a stockbroker.
In carrying out the acquisition, Coinbase is prepared to enjoy the same regulatory status as Keystone Capital. For this to occur, the regulatory authority FINRA must grant its approval.
It should be noted that Coinbase would not be the first cryptocurrency service that would enjoy the status of broker agent. Genesis Global Trading, a subsidiary of the Digital Currency Group, has had this status since 2015.
-NEWS-
Twitch streamers can receive tips in up to four cryptocurrencies
The popular video game transmission website Twitch has seen its popularity increase, receiving millions of visitors every month. Now, with the avant-garde and to be aware of the technology, it has enabled an option that allows users of the platform to pay each other tips with four cryptocurrencies that include the following: Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Bitcoin (BTC). To do this, Twitch visitors can link a Streamlabs account to their Coinbase account, which allows them to obtain cryptocurrency flows without additional charges.
The integration was revealed by Tom Maneri, Streamlabs representative, Tom Maneri, last Sunday:
" It's time to wash one of your Lambos, because everyone who uses Streamlabs can now accept payments in cryptocurrencies."
It should be noted that, as mentioned above, to tip Twitch users, it is necessary that they have a Coinbase and Streamlabs account.
To integrate cryptocurrency tips, Twitch users should go to the Streamlabs donations configuration page to select the Coinbase option. From there, you must log in and link your Coinbase account to the Streamlabs platform. After that, a page of suggestions for visitors will be displayed and, like the recommendations, the cryptocurrency suggestions also work with alerts so that they can receive a notification when they receive a tip. On the other hand, there are no fees involved in the process, less the network rate associated with the specific cryptocurrency chosen for the tip.
"Streamlabs does not charge a fee, but some charges may apply for network transaction, depending on the currency used," explains Maneri.
Cryptocurrency advocates are quite satisfied with the integration of tips, as Twitch is an extremely popular gaming site that has millions of unique users and is currently one of the 50 most visited websites in the world.
-NEWS-
New York considers creating a supervision group for the cryptocurrency market
The Legislative Court of New York intends to launch a bill to set up a group to monitor and evaluate trade with cryptocurrencies.
The news came after the banking committee voted in favor of advancing the project to the Ways and Means Committee.
If approved, the authorities will proceed to create a group of nine members, who must submit a report to both the governor and both legislative chambers by December 2019.
According to the spokespersons of the court, the operative group will be mainly in charge of evaluating the effects of the digital currencies on the fiscal income of the state, as well as the possible cases of criminal actions in the market and the index of energy consumption required to mine cryptocurrencies.
It should be noted that this seems to be one of the few attempts of government agencies to acquire an approach closer to the commercial scenario of digital currencies. Another case, for example, highlights the creation of the "BitLincense" project proposed by the Attorney General of New York, in order to grant validations or licenses to operate in the state.
Although many believe that regulatory frameworks, such as the case of BitLincense, have been unsuccessful, as not many cryptocurrency or Blockchain development companies are willing to invest capital or comply with a list of requirements to obtain validity in the state market.
Among the companies that closed operations in New York after the law are Bitfinex, BitQuick, BTCGuild, Eobot, Genesis Mining, GoCoin, Kraken, LocalBitcoins, Paxful, and Poloniex.
Added to the above, the massive wave of criticism prompted some state legislators to consider issuing new less restrictive regulations, to be discussed even before December 2019. In this regard, Senator David Carlucci added as a final note that, in the In short, the authorities could put into action the necessary reforms to amend the previous laws to stabilize the current digital scenario.
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