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Crypto Industry Reacts to US Senate Hearing Remarks

“Bullish.” “A sigh of relief.” These were just some of the comments that came from industry observers in the wake of a hearing held Tuesday by the U.S. Senate Committee on Banking, Housing and Urban Affairs, one that addressed the question of how lawmakers should consider cryptocurrency regulation. Widely anticipated …

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Cryptocurrency Market Drops to Lowest Value Since November

In another gloomy day for the crypto markets, the total value of all cryptocurrencies fell to $276 billion today – the lowest level since Nov. 26. The sell-off looks even bigger if we take into account the fact that the total market capitalization is down 66 percent from the all-time …

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Singapore Lawmakers Question Prime Minister Over Crypto Regulation

Members of Singapore’s parliament have expressed interest in developing regulations to oversee the country’s cryptocurrency sector. According to an order paper dated on Feb. 5, which outlines the agenda of the day’s parliamentary session, three lawmakers sought comment from the country’s prime minister, Lee Hsien Loong, as to the government’s …

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Bitcoin’s Price Has Nearly Unwound Its Futures Boost

Bitcoin’s drop to 3-month lows below $6,000 could be seen as the completion of a round trip. On Nov. 1, bitcoin (BTC) prices received a shot in the arm on news that derivatives marketplace operators CME Group, Cboe and Cantor Fitzgerald were considering launching futures for the market in December. …

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Taiwan Official: Government Should Prepare for Crypto Collapse

A senior Taiwanese official is urging the government to prepare policies to tackle the potential impact of cryptocurrencies on the island’s financial stability. Speaking at a seminar, hosted on Feb. 2 by Taiwan Academy of Banking and Finance, Shih Jun-ji, vice president of Taiwan’s executive branch of government, addressed issues …

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Warren Buffet’s Railroad Firm Joins Blockchain Alliance

BNSF Railway, a major U.S. freight railroad network owned by Warren Buffet’s Berkshire Hathaway, has become the latest member of the Blockchain in Transport Alliance (BiTA). Announcing the news on Feb. 5, BNSF said in a statement that it joins the alliance in an effort to work with other members …

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BIS Chief Slams Bitcoin As Ponzi Scheme and Threat to Central Banks

The head of the Bank for International Settlements (BIS) has blasted bitcoin as “a combination of a bubble, a Ponzi scheme” and, due to the energy consumption required for mining it, an “environmental disaster” Calling for more regulation in a speech today, Agustin Carstens, general manager of the BIS, warned …

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New Regulation for Crypto? US Senate Hearing Rekindles Debate

“We may be back with our friends from the U.S. Treasury and the Fed to ask for additional legislation.” So said Jay Clayton, the chairman of the U.S. Securities and Exchange Commission, at a U.S. Senate hearing on cryptocurrencies today, responding to one of several questions about whether his agency …

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Venezuela’s Cryptocurrency Plans Draw Ire at US Senate Hearing

Venezuela’s controversial plan to create an oil-backed cryptocurrency ignited debate and discussion at a U.S. Senate hearing Tuesday. Held by the Senate Committee on Banking, Housing and Urban Affairs, which kicked off at 10 a.m. EST, the event notably saw CFTC chairman J. Christopher Giancarlo and SEC chair Jay Clayton …

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Economist Roubini: ‘Crypto Crazies’ Are ‘Cyber Terrorists’

Nouriel Roubini, the former Clinton administration economist nicknamed “Dr. Doom” due to his prediction of the 2008 financial collapse, resumed his criticism of cryptocurrencies on Twitter Tuesday. Just prior to a Senate Committee hearing on cryptocurrencies, he wrote, “Cryptocrazies are also criminal Cyber-Terrorists,” and alleged that his consulting firm, Roubini …

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SEC Chief Clayton: ‘Every ICO I’ve Seen Is a Security’

Concerns about initial coin offerings among U.S. regulators and lawmakers were on full display during a U.S. Senate hearing on Tuesday. “I believe every ICO I’ve seen is a security,” Securities and Exchange Commission chairman Jay Clayton declared early on, perhaps setting the tone on a topic that would be …

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Enterprise Blockchain May Be Ready for Its Breakout

It turns out, last year’s mantra “make blockchain real” was little more than wishful thinking. Instead of the increased efficiency, enterprises have encountered impractically slow transaction volumes; instead of a transparent world with ultimate accountability, companies holding sensitive customer data faced regulatory concerns. Still, there’s reason to believe the same …

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What to Expect When CFTC, SEC Chiefs Talk Crypto With Congress

Congress is set to hold what may be the most consequential hearing in years on the subject of cryptocurrency, with the heads of the two main U.S. financial market regulators in the hot seat. J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, and Jay Clayton, his counterpart at …

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Augur Ahead? One of the Oldest ICOs Is Almost Live

In what could be one of the year’s most talked-about launches, a cryptocurrency project called Augur may soon invite its community to bet against its success. Created by the Forecast Foundation in 2015, the crowdsourced prediction protocol raised $5.5 million by selling REP tokens long before the term initial coin …

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Bitcoin Slumps to 3-Month Low Below $6K

Bitcoin prices plunged to a 12-week low below $6,000 this morning, reporting double-digit percentage losses amid a continued crypto market sell-off. Prices on CoinDesk’s Bitcoin Price Index (BPI) fell as low as $5,967.34 at 07:59 UTC – the lowest level since Nov. 13. As of writing, the world’s largest cryptocurrency …

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ICOs Are Already Changing Tech Startups You Know

It wasn’t so long ago that scraping a flat fee off of a user’s transaction was a reliable revenue model. But with the advent of cryptocurrencies, a new wave of startups is beginning to set its sights on something different, with mainstream brands like Telegram and Kik pivoting to embrace …

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