South Korea’s parliament has officially recognized crypto trading as legal in the country. The move comes after two years of deliberations into how to develop concrete guidelines for cryptocurrencies. South Korea Legalizes Crypto Trading According to The News Asia, South Korea’s National Assembly passed an amendment to its Reporting and Use of Specific Financial Information Act, legalizing cryptocurrency trading. Local South Korea media outlet Maeil Kyungjae revealed that the motion to amend the bill received […]
Square’s Cash app reported record Bitcoin revenue once again, in its Q1 2019 earnings report. If growth continues at this rate, there could soon be 2 BTC bought on Square Cash for each one mined. Record Quarterly Bitcoin Sales On Cash App Jack Dorsey’s financial services provider, Square, posted another quarter of record BTC sales through its Cash app. In its Q1 2019 earnings report, it announced $65.5 million in bitcoin revenue for the quarter; up
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Cryptocurrency asset management firm, Bitwise, has submitted another Bitcoin ETF filing to the United States Securities and Exchange Commission (SEC). The firm’s previous BTC ETF filing was among the ones rejected by the SEC in 2018 Physically-backed Bitcoin ETF If at first, you don’t succeed, try again. The famous maxim seems contextual for Bitwise as the firm prepares for another go at obtaining SEC approval for a Bitcoin ETF. According to a press release published on
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Bakkt on Monday announced the completion of its first funding round, to the tune of $182.5 million. The platform which aims to offer the first-ever Bitcoin-settled futures contracts in the coming year says it is going ahead with its plans irrespective of the current market conditions. $182.5 Million in Funding From High Profile Investors In a Medium post published on Monday (Dec. 31, 2018) by the Bakkt CEO, Kelly Loeffler, the company announced that it had
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BlackRock CEO Larry Fink poured cold water on reports that the company was looking to get involved in the cryptocurrency market. BlackRock Clients Have Zero Interest in Cryptocurrencies Earlier today, the news broke that BlackRock Inc., the world’s largest ETF provider was looking to get into the cryptocurrency market. However, speaking to Bloomberg, Fink walked back those reports, saying: I don’t believe any client has sought out crypto exposure. I’ve not heard from one client
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The Tokyo District Court has approved the commencement of civil rehabilitation in the ongoing Mt. Gox bankruptcy — with the process to expected to start early next year. Mt. Gox Trustee Won’t Dump Any More Bitcoin Mt. Gox creditors are one step closer to receive more than $450 per bitcoin lost. The Tokyo District Court ordered to stop the bankruptcy process and start the civil rehabilitation process. The document published on Mt. Gox website today
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Bitcoin transaction fees have soared over the past 24 hours — likely due to Bithumb cleaning out its hot wallet in an effort to secure its remaining funds after hackers allegedly stole $31.5 million from the exchange. Bitcoin Average Transaction Fees Up 315 Percent According to Bitcoinfees.info, the current average Bitcoin transaction fee is $2.53 per transaction. This value represents a 315 percent increase from the previous day’s transaction fee. Bitrefill CEO, Sergej Kotliar, claims that
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Bitcoin, the number one cryptocurrency, is currently in freefall as it continues its losing streak for the third consecutive day. However, the decline recorded today, June 10, 2018, has seen Bitcoin reach a three-month low. 10 Percent Slide in 24 hours Takes Bitcoin Below $7,000 Bitcoin began the day trading at about $7,600 according to CoinMarketCap. At the time of writing this article, BTC price has fallen to $6,700, losing almost $1,000 in less than
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Reports have emerged that the Mt. Gox bankruptcy trustee, Nobuaki Kobayashi is gearing up for another round of bitcoin selling. According to Blockchain.info, 8,200 BTC was moved from the fund’s cold wallet. In response, the price of bitcoin has dropped below $9,000 over fears the coins may be sold on the online exchange market and not on OTC platforms. Bitcoin Falls Below $9,000 in the Wake of Latest Mt. Gox Selloff Bitcoin has been on
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