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The Bank of Thailand’s governor says that developing countries will take some time to switch to using digital currency. The governor of the Bank of Thailand (BoT) has said that it will take three to five years for countries to switch from using cash to using digital currencies. The bank governor’s comments were reported by the Thai News Agency (TNA), a subsidiary of the Thai state-owned public broadcaster, Nov. 17. The central bank’s governor, Dr. Veerathai Santiprabhob, stated that digital currency would not replace fiat currency right away “because of complication[s], a readiness of people and an efficiency of technology.” Although the BoT has not issued a central bank-backed digital currency (CBDC) yet, the Thai central bank is “now testing the use of digital currency for settling payment among financial institutions,” according to the TNA. The article also states: “The BoT hopes that full implementation of using digital currency among financial institutions would take place durin..
As you already know, CoinMarketCap keeps tabs of the performance of important cryptocurrencies. It provides reliable information about the total market capitalization of these coins as well as the trading volume and daily performance of cryptocurrencies. Since the creation of cryptocurrencies, Bitcoin has always been number one. Giving a wide margin, ETH has held the second place for a long time now. Unfortunately, things seem to have fallen in favor of XRP. Thanks to the recent dip in the market capitalization of ETH and the rise in the market capitalization of XRP, ETH is now third place in CoinMarketCapital’s list of top cryptocurrencies. XRP Is Reaching For The Moon On Thursday, XRP, for the third time in history, claimed the second spot from ETH. While it has done this twice before, this is the first time it is holding this position for such a long time with a high margin. At first, XRP took over by more than $600 million. Yesterday the market capitalization increased again and t..
A wobble in Bitcoin has spelled increased volatility for the majority of big-name cryptocurrencies. Cryptocurrency markets are showing red across the board Nov. 14, as a steep drop in Bitcoin (BTC) ricocheted across major assets. Data from Cointelegraph’s price tracker, Coin360, and Bitcointicker confirms BTC/USD bouncing off support around $6,150 on exchanges, at press time hovering above $6,200 again. Market visualization. Source: Coin360 The dip to $6,150 marks a fresh test of the stability seen in Bitcoin for the past several weeks, the largest cryptocurrency not testing the barrier since mid August. No major events appeared to contribute to the latest declines, with some analysts nonetheless predicting the ongoing bear market would continue into 2019 — longer than many had previously assumed. “Putting together the blockchain view, I suspect the timing for a bottom may be around Q2 2019,” technical analyst Willy Woo, creator of data site Woobull, commented on social media Nov. 13..
In the last of Cointelegraph’s three part series on the history of crypto in China, we look at the apparent anomalies that govern crypto’s use, ownership, and legal status in the country. Next month marks the fifth-anniversary of the People Bank of China (PBoC)’s very first crypto regulatory intervention, with the issuance of its ‘Notice on Precautions Against the Risks of Bitcoin’ in Dec. 2013. Over the years, the Chinese authorities have cemented an increasingly hardline stance, as their perception of the financial risks posed by crypto has hardened. Their action has spanned the notorious criminalization of initial coin offerings (ICOs) in Sept. 2017, followed by a series of stark measures that target crypto trading platforms, third-party crypto payment channels, social media networks, and offline crypto-promotional events. Just this month, the PBoC announced it had widened its regulatory scrutiny to include token airdrops, which it characterized as “disguised” ICOs in its latest an..
Investment bank J.P. Morgan Chase has named three companies whose stock could benefit from their deployments of blockchain technology. Investment bank and financial services firm J.P. Morgan Chase has identified three public companies whose stock it believes will benefit from their applications of blockchain technology, CNBC reported Nov. 8. In a note to clients, J.P. Morgan reportedly forecast that IT companies will deploy blockchain in the same way that many firms claim to benefit from machine learning and artificial intelligence (AI). As Cointelegraph reported yesterday, some companies have started to drop using the term “blockchain,” as they believe the word is overhyped and too often used as a marketing ploy. However, J.P. Morgan outlined three companies that will purportedly create “material incremental growth opportunities” from the technology. Per J.P. Morgan, those beneficiaries are American content delivery network and cloud service provider Akamai Technologies Inc., San Fra..
Three Thai siblings accused of swindling $24 million worth of Bitcoin from a Finnish investor have recently pleaded “not guilty” in a Bangkok court. Three Thai citizens who are currently being prosecuted for allegedly swindling $24 million worth of Bitcoin (BTC) have pleaded “not guilty” in the Criminal Court of Bangkok, major Thai newspaper Bangkok Post reports Wednesday, Nov. 7. During the hearings, Thai prosecutors accused the three defendants and six accomplices of defrauding 21-year-old Finnish investor Aamai Otava Saarimaa back in 2017. According to the investigation, he was persuaded to buy shares in Expay Software Co, invest in a gambling-focused crypto token Dragon Coin (DRG), and buy 500 million shares in DNA (2002) Co, which he consequently did by transferring crypto to the siblings’ wallets. The prosecutors claim that after receiving the money, the Jaravijit family bought several blocks of land in Thailand. Saarimaa, in his turn, received no profit and later complained to ..
Trading platform eToro’s new proprietary crypto wallet will see a phased rollout, the company says, with additional assets appearing in future. U.K. cryptocurrency and fiat trading platform eToro announced the release of its own cryptocurrency wallet today, Nov. 6, with initial support for four cryptoassets. EToro, which last month became the first platform to offer fiat trading of cryptocurrency exchange Binance’s in-house token Binance Coin (BNB), promises to add additional functionality to the product following the initial release. “The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more,” CEO Yoni Assia commented in the press release. The wallet will at first provide support for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). EToro currently supports fourteen total..
The Financial Markets Authority of New Zealand claims a local crypto platform is a scam because of its use of a certified company’s name and identity. The Financial Markets Authority (FMA) of New Zealand has added three new crypto-related websites to its list of online scams, an announcement by the FMA reveals Thursday, Nov. 1. On Nov. 1, the FMA listed three companies — Crypto Gain, Russ Horn, and Zend Trade — on its “scam” list, where citizens are warned about the potential risk of dealing with certain websites. In regards to Crypto Gain, the FMA states that the company is posing as a New Zealand company with the same name without permission to do so, noting: “The website www.cryptogainlimited.com is not associated with, nor a representative of, the New Zealand registered company Cryptogain Limited.” Crypto Gain Limited (not to be confused with the other Crypto Gain — a desktop app to track one’s crypto assets) claims on its website that it has a certificate of incorporation granted..
The North Dakota Securities Commissioner issued cease and desist against three crypto promoters for misleading representation and violating securities law. North Dakota Securities Commissioner Karen Tyler has issued cease and desist orders against three firms for allegedly offering unregistered and fraudulent securities in the form of Initial Coin Offerings (ICOs), according to an announcement published Oct. 11. The companies at the center of the orders are Crystal Token, Advertiza Holdings (Pty) Ltd., and Life Cross Coin a/k/a LifecrosscoinGmbH. Per the statement, Crystal Token (CYL) is an “evolutionary multi-utility” ERC-20 token, that promises earnings up to two percent per day. The token’s website allegedly contains fraudulent claims of “excessive unsubstantiated” rates of return on investment. CYL is not authorized to sell securities in North Dakota. Advertiza Holdings offers cryptocurrency called “Tizacoin,” or “TIZA,” and claims that holders “can expect to make a profit from th..