Thursday, May 23Your Daily Bitcoin & Altcoin News Portal
Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer

Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer

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Please share if you find this article interesting. Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer Dutch, Luxembourg authorities and Europol have shut down one of the three largest cryptocurrency tumblers, Europol reported on May 22. A cryptocurrency tumbler, also known as a cryptocurrency mixing service, is an anonymity tool that claims to transform transactions of non-private coins to private ones by mixing crypto funds with others, which makes it difficult to track the funds’ original source. According to the report, the Dutch Fiscal Information and Investigation Service (FIOD) has now seized six servers of major crypto tumbler Bestmixer.io, which had a reported turnover of at least $200 million since its launch in May 2018. The service was purportedly one of t
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Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans

Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans

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Please share if you find this article interesting. Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans A group of four banks have successfully issued a promissory note — a type of legally binding loan agreement — through a new blockchain platform, a news release on May 21 announced. The financial institutions used finledger to complete the transaction. According to Helaba, one of the banks involved, the platform reduces the steps involved with issuing such a note by more than 50%. As well as eliminating the need for lenders to hold documents or for borrowers to send valuables, the banks claimed the technology helps cut the risks and costs associated with the process. DekaBank, dwpbank, DZ Bank and Helaba were involved in the pilot transaction
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Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts

Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts

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Please share if you find this article interesting. Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts An upcoming supply cut could help bitcoin (BTC) prices rise further in the coming months, crypto fund manager Brian Kelly told CNBC on May 21. Speaking to the Fast Money program, he explained that “the halvening,” next due to take place in 2020, will see mining rewards cut in half. With many miners now hoarding BTC, Kelly predicted that prices will rise as increased demand — tied to increasing industrial adoption and retail uses — competes with diminished supplies. Describing the four-year cycle that leads up to “the halvening,” Kelly added: “You generally have a rally a year into it, and a year out of it. And so we’re just at the beginning of that st
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Ripple Escrow Reporting: Creative Accounting or Much Ado About Nothing?

Ripple Escrow Reporting: Creative Accounting or Much Ado About Nothing?

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Please share if you find this article interesting. Ripple Escrow Reporting: Creative Accounting or Much Ado About Nothing? On May 16, 2019, Coin Metrics released a report detailing discrepancies in Ripple’s escrow reporting system. The Blockchain analysis firm described these discrepancies as contradictions that required some explanation. As per usual, any story concerning Ripple is going to come in for some polarizing viewpoints, with strong opinions on both sides of the matter. On the one hand, Ripple says the discrepancies aren’t so much a financial issue as they are a timeline adjustment. Critics of the company, on the other hand, see it as a further ground for criticism of Ripple’s operations. How Ripple escrow works Back in mid-December 2017, Ripple published a document det
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Collapsed Cryptopia Founder Wants You to Put Funds on His New Exchange

Collapsed Cryptopia Founder Wants You to Put Funds on His New Exchange

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Collapsed Cryptopia Founder Wants You to Put Funds on His New Exchange Because there are, apparently, second acts in crypto, the creator of the defunct Cryptopia exchange is trying again with a new exchange product called Assetylene. The exchange, which touts itself as “New Zealands most advanced crypto trading platform,” is run by Adam Clark, the former founder and programmer for Cryptopia. Cryptopia went into liquidation on May 15 after a major hack that drained an estimate $16 million-worth of crypto last year. Most recently the stolen funds are currently moving out of the hacker’s wallets and onto various exchanges. One would assume, then, that the founder of a hacked, shuttered exchange, wouldn’t try again so quickly. One wo
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Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019

Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019

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Please share if you find this article interesting. Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019 The central bank of Russia believes that the draft bill on crypto regulation is prepared enough to be adopted in the spring of 2019, local news agency TASS reports on May 22. Olga Skorobogatova, first deputy governor of the Russian central bank, has stated that the bank expects the crypto bill, “On Digital Financial Assets” (DFA), to be adopted during the spring session in 2019 in accordance with the order of the country’s president, Vladimir Putin. Speaking at a recent meeting of the Parliament, Skorobogatova argued that the DFA, as well as a draft law on crowdfunding and other crypto-related bills, are at a “sufficiently high degree of preparedness” t
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Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains

Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains

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Please share if you find this article interesting. Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains An Israeli judge has ruled that bitcoin (BTC) is an asset and not a currency, local news site Globes reported on May 21. The judgment is significant because it means profits made by selling the cryptocurrency will now be liable to capital gains tax, Globes notes. Noam Copel, who founded the blockchain startup DAV, had bought BTC in 2011 and sold two years later — making a profit of $2.9 million at today’s rates. During the court case, he had argued that bitcoin should be regarded as a foreign currency, as fluctuations in exchange rates are not taxed. But the Israel Tax Authority (ITA) argued differently, with the organization putting forward the i
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Bitcoin On the Defensive With Price Below $8k

Bitcoin On the Defensive With Price Below $8k

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin On the Defensive With Price Below $8k View BTC has traded in a narrowing price range over the last 48 hours, aborting the immediate bullish view put forward by Sunday’s double-digit gains. A range breakdown, if confirmed, would allow a price drop toward $7,200. That looks likely with multiple signs of bullish exhaustion on the daily chart. The outlook, however, would again turn bullish if the contracting triangle ends with a bullish breakout. In that case, the price could rise to $8,500. Bitcoin is teasing a downside break of its recent trading range, having again faced rejection above $8,000 earlier today. The cryptocurrency market leader jumped more than 12 percent on Friday, reviving the case for a potential break abov
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Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend

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Please share if you find this article interesting. Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend Wednesday, May 22 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark again. Market visualization courtesy of Coin360 Bitcoin is down over .5% on the day, trading at $7,850 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 1.83%. Bitcoin 7-day price chart. Source: CoinMarketCap This week, Cointelegraph reported that CME Group, the second global exchange to list bitcoin (BTC) futures, is about to record the biggest trading month for BTC futures trading. Ether (ETH) is holding onto its position as the largest altcoin by market cap, which
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May to Become Strongest Month for CME’s Bitcoin Futures Trading: Report

May to Become Strongest Month for CME’s Bitcoin Futures Trading: Report

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Please share if you find this article interesting. May to Become Strongest Month for CME’s Bitcoin Futures Trading: Report CME Group, the second global exchange to list bitcoin (BTC) futures, is about to record the biggest trading month for BTC futures trading, industry news outlet The Block reports May 21. The publication has reportedly cited data from an external email from CME. The Chicago Mercantile Exchange purportedly revealed that the average daily bitcoin futures trading volume hit a new high of 14,000 contracts solely in May 2019. To date, May 13 has reportedly become the biggest trading day for CME’s bitcoin futures, with the platform having registered 33,700 contracts worth $1.35 billion in bitcoin at the time. The exchange also revealed that the number of BTC futures