“Bitcoin is back,” writes Financial Intelligence Service, Bloomberg, “at least for a day”. On Thursday, the digital currency had gained a 16 percent value in less than an hour, breaking both the $ 7,000 and $ 8,000 thresholds. Observers explained the sudden price gains with various factors. Analysts and experts polled by Bloomberg frequently mentioned a “short squeeze”. Investors who had bet on a falling Bitcoin price had been forced to give up their holdings and buy back these positions as prices rose. These purchases would have pushed the price even higher. Especially on the platform Bitfinex, there...Read More
Author: Fintech Crypto News
The South Korean Financial Services Commission will check the banks connected with the crypto exchange
The South Korean Financial Services Commission (FSC) said it will check three domestic banks servicing crypto-exchange exchanges. The statement confirms that the banks will be audited from April 19th to 25th; the regulators want to make sure that the financial institutions comply with the new rules of anonymity introduced at the end of January this year. Under the law, Koreans using cryptocurrency exchanges for trading can have only one account and identification data that must correspond to a bank account. These requirements increase pressure on crypto- exchanges, as banks want to see guaranteed legal trade. Small crypto-exchange exchanges have to exert every possible effort to cope...Read More
What do people mean when they say, ‘The Internet Of Things’? Here is an introduction what that term means and how it has begun to integrate the everyday objects around us to form a network of interactivity between us and the world around us. The internet of things is a bridge to what was previously regarded as mere science fiction. Today, we are stepping more into the future than ever before. Here’s the 411: ...Read More
Did India’s RBI just kill the competition to pave the way for the success of their own digital currency?
The Reserve Bank of India finally released a statement about the government’s views on cryptocurrency and crypto assets. The RBI issued a directive on Friday morning giving all RBI regulated organizations three months to cut all ties with individuals and entities that deal in cryptocurrencies and other crypto related projects. After the statement, the price of Bitcoin listed on Indian crypto exchanges crashed, presumably due to large selling. The price crashed from about Rs 500,000 to about Rs 340,400. In the same breath, however, the RBI also announced its own digital currency “While many central banks are still engaged...Read More
As the ban on cryptocurrency ads continues to spread across most advertising giants like Google, Facebook and Twitter, industry leaders seem to believe that this move will actually help crypto markets. Since cryptocurrency ICOs are still largely unregulated, advertising helps even Ponzi schemes and scammers approach the general public, which gives the cryptocurrency industry a bad reputation. With the bans, these scammers will also not be allowed to dupe the public. In the bargain, though, even genuine crypto companies are not able to share their innovative products with the customer or market their ICO to interested crypto audiences. These...Read More
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