Facebook finished up its second round of Congressional hearings yesterday, marking the end of the beginning for what some U.S. Congressional members consider the social media platform’s ill-advised venture into the monetary realm. The House of Representatives Financial Services Committee hearing, following in the footsteps of the Senate Banking Committee’s own earlier this week, went…
Mohammad Javad Azari Jahromi, the Iranian minister for information and communications technology, called the nation a “heaven for miners,” according to AP News. He said that Iranians have turned to crypto mining as a countermeasure against looming hyperinflation and economic collapse following economic sanctions from Washington, D.C. However, he also noted that, while Bitcoin mining…
Big Brother, in its governmental and corporate forms, has been watching us for many years. One of its most aggressive ongoing forms started with the USA PATRIOT Act of October 2001, which laid the foundation for an unprecedented mass surveillance apparatus which extends beyond American borders. Meanwhile, companies like Google and Facebook have built multi-billion…
BRD, one of the most secure cryptocurrency mobile wallets, trusted by over 2 million users in 170 countries, now enables Canadian customers to purchase bitcoin, ether and bitcoin cash for some of the lowest fees in the industry. Through its partnership with the fast-growing Canadian crypto trading platform Coinberry, BRD’s Canadian customers will be able…
The Hangzhou Internet Court, litigating a lawsuit dating to 2013 between a cryptocurrency exchange and one of its clients, ruled this week that bitcoin is considered legal property under Chinese law. While the court ruled that the client’s lawsuit against the cryptocurrency exchange was insufficient, the court deemed bitcoin to be property under the specifics…
Autorite des Marches Financiers (AMF), France’s financial watchdog, will approve the first group of cryptocurrency firms under a new set of digital currency regulations to be adopted later in July 2019. In order to gain approval from the regulator, crypto firms must act in accordance with capital requirements and consumer protection standards, as well as…
This article was originally published by 8btc and written by Vincent He. A ransomware virus named Ryuk has spread to China, asking the users of infected devices for a hefty bitcoin ransom. Tencent Security reported on July 17, 2019, that it has monitored Ryuk and found that it encrypts data on an infected device and…
One of the key challenges in blockchain projects is dealing with the “trilemma” challenge: how to develop technology that is scalable, decentralized and secure, without any element being diminished. For example, Bitcoin is both decentralized and secure, but critics have historically argued that it is not scalable. Luckily, Layer Two solutions are currently working to…
The New York State Department of Financial Services (DFS) awarded two subsidiaries of Seed CX, a Chicago-based cryptocurrency exchange, with virtual currency licenses. In a press release, DFS superintendent Linda Lacewell announced the approval of virtual currency license applications from Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC. Zero Hash has also been…
Summary: Over the last week, the bitcoin price has dropped 30 percent, from its high of $13,200 to its current local low of $9,050. As of this morning, the market is enjoying a strong rally on high spread and volume that pushed the price back above major support at $9,600. If the market manages to…