CryptoUK Trade Association Calls On MPs To Regulate Cryptocurrency Sector In UK

CryptoUK, a self-regulatory trade association for the UK cryptocurrency industry, addressed several Members of Parliament (MPs) to advocate for favorable regulations in the sector, news outlet City A.M. reported May 1. The association set out its proposals in writing to the Treasury Select Committee’s inquiry into cryptocurrencies today. The inquiry intends to examine the role of digital currencies in the UK, including risks connected to their usage by consumers, businesses, and the government. While regulators around the world have claimed that cryptocurrencies are instruments for criminal activity, CryptoUK said that…

Crypto And Blockchain To Provide Cash-Free Society

South Korea’s central bank, the Bank of Korea (BOK), has recently announced it is considering cryptocurrencies and blockchain applications for its project for a “cashless society,” local news TokenPost reports May 1. South Korea’s central bank says cryptocurrency and blockchain will allow societies to become coinless. The South Korean gov’t has been trying to get rid of coins for a long time, many methods have been suggested but it wants to go with cryptocurrency.https://t.co/k8DNdinbl9 — Joseph Young (@iamjosephyoung) May 1, 2018 According to TokenPost, BOK announced the official launch of…

Crypto Exchange Coinsecure Says Theft Probe Is Holding Up Refunds

Coinsecure is still unable to repay its customers following a debilitating theft last month, the India-based cryptocurrency exchange said over the weekend. The exchange – which lost nearly 440 bitcoins in mid-April in an incident that has been publicly blamed on a “rogue” employee –  announced on April 29 that while it previously hoped to begin returning customer funds by this point, it remains unable to do so because of a police investigation. The statement continued: “When investigations are underway, we don’t have much of a say and do need…

Crypto in April | EOS and Tether (USDT) Saw Best and Worst Movement

Crypto in April: April was a good month for crypto. Don’t believe us? Check out the numbers. We’ve broken down how well each coin performed for the month of April and every coin in the top 30 grew. EOS and Tether (USDT) saw the best and worst movement for the month. Can you guess which coin moved the most? Coins included in this breakdown are only those currently listed within the top 30 cryptocurrencies. All prices are taken from the historical data provided by CoinMarketCap, from the ‘opening’ price on April…

Top Crypto News This Week

It is the first week of May, the crypto space is buzzing and there is a lot happening. Despite all of the top coins being in the red today, the crypto sector has seen numerous announcements made this week. And it’s only Tuesday. Here are six of the top announcements.  This Week’s Top Crypto News 1. SBI Holdings Launching Crypto Exchange: The first announcement to come this week involves a Japanese finance behemoth. News has broken that SBI Holdings is planning to roll out a crypto exchange this summer. The president of the financial…

IMF Report Says Crypto Does Not ‘Pose Risks’ To Global Finance

Cryptocurrencies “do not appear to pose risks to financial stability,” the International Monetary Fund (IMF) said in a report published the second week of April. In comments on crypto assets as part of its Global Financial Stability Report, the organization continued its recent stance in promoting international agreements on regulation. The report continues, “…they could [pose a risk] should their use become more widespread without the appropriate safeguards.” The tone is bullish against the titular theme of “a bumpy road ahead” for world finance, and does not discount the potential…

ETH Now In A ‘Gray Zone’, But 2014 ICO Was Likely An ‘Illegal Securities Sale’

Ethereum (ETH), the world’s second largest cryptocurrency, is coming under particular scrutiny from U.S. federal regulators, the Wall Street Journal (WSJ) reports today, May 1. According to the WSJ, regulators are debating whether or not to classify it as a security under U.S. law. The WSJ cites source familiar with the matter, who report that regulators have declared that ETH, the world’s largest altcoin, is in a regulatory “gray zone”. A major concern reportedly being raised is how ETH was first distributed – in a sale of ETH starting in…

Banks And Cryptocurrencies Global Evaluation: Americas

The US Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo said he doesn’t see comprehensive crypto legislation coming from the federal level in the near future, CNBC reported April 30. Earlier this day, the US Securities and Exchange Commission (SEC) Commissioner Robert Jackson called the initial coin offerings (ICO) market a prime example of an unregulated securities market vis-a-vis the issue of consumer protection in ICOs. These statements can be read as another sign of the inevitable future regulation of cryptocurrencies. A common trend seems to show that there’s no…

Up 33%: Bitcoin’s Price Just Had Its Best Month of 2018

Bitcoin’s price rose 33% against the U.S. dollar in April, making it the best month of 2018 for the world’s largest cryptocurrency. Data from CoinDesk’s Bitcoin Price Index (BPI) shows that May began with bitcoin’s price at the $9,244.32 mark – a 33% jump from its April 1 start of $6,926.02. This marks the greatest rise in bitcoin’s price this year, and one of only two months where it rose at all within the period.   Source: BPI Bitcoin’s price fell overall in January and March, and only rose 1.4%…

Some Crypto Exchanges Will Be Required To Hand Over Customer Data, Report Says

A crypto-related decree in Belarus will be updated to require certain crypto exchanges to provide customer data to authorities, local news outlet Forklog reports today, May 1. Belarus’ Decree on the Development of Digital Economy is being revised to include a requirement for crypto exchanges based in the country’s High-Tech Park (HTP) to provide identifying data on their customers. According to sources at RIA Novosti, cited by Forklog, in order to open a crypto exchange in the HTP,  a company must provide information on its management structure, clients’ names and…