Brazil Moves to Probe Banks After Crypto Exchanges Denied Services

Brazil’s antitrust watchdog is investigating whether the major banks in the country worked together to close off access to cryptocurrency services. The Administrative Council for Economic Defense (CADE), an official wing of the Brazilian government, announced it was looking into the Banco do Brasil, Banco Bradesco, Itau Unibanco Holding, Banco Santander Brasil, Banco Inter and Sicredi, according to a report from Reuters. These banks allegedly shut down accounts belonging to cryptocurrency traders and brokerages. The investigation comes some months after the Brazilian Association for Cryptocurrency and Blockchain called for such a probe, with the…

Read More

How On-Chain Voting Protocols Operate and Vary

Since Bitcoin’s introduction in 2009, there have been several attempts to include a decision-making process as part of the rules of a blockchain. This is called on-chain governance, a formalized way in which a group of people can make changes by voting through the protocol. The purpose behind it is to provide a clear-cut path to consensus. What are some examples of people using on-chain governance? It can include — but is not limited to — the following three topics: Changes in the existing protocol and parameters of a blockchain.…

Read More

Bitcoin Price Sees High-Volume Recovery From Five-Week Lows

Bitcoin’s (BTC) high volume recovery from five-week lows may have left the bears disappointed, although a bullish reversal is still not confirmed, technical studies indicate. The leading cryptocurrency fell to $6,100 on Bitfinex at 18:00 UTC yesterday – the lowest level since Aug. 14 – signaling a downside break of the trendline connecting the June low and Aug. 11 low (lower end of the pennant). However, the moment of triumph for the bears was short-lived, as the cryptocurrency picked up a strong bid the very next hour and jumped to…

Read More

UK Lawmakers Call For Greater Oversight of Crypto Industry

A group of U.K. lawmakers has called for more oversight and regulation of the cryptocurrency industry in a new report published Wednesday. Arguing that “crypto-assets have no inherent value,” are “especially risky” for retail investors and are “particularly vulnerable to manipulation,” the report states that “the introduction of regulation [to the cryptocurrency space] should be treated as a matter of urgency.” The report comes roughly seven months after the U.K. Treasury Committee first announced it would look into the benefits and risks of cryptocurrencies. The group wants to give the…

Read More

Swiss Crypto Startup Eidoo Announces Token Tied to the Price of Gold

Eidoo has become the latest cryptocurrency startup to seek to create a more stable token by tying it to the price of gold. The Switzerland-based startup says the ERC-20-compatible token, dubbed the ekon, will sit alongside its multicurrency wallet and decentralized exchange. But perhaps more notably, each token will be redeemable for one gram of 99.9 percent fine gold, which the startup says will be stored in its vaults and audited every 90 days. “People will be able to see the gold stored in the security vaults through a video…

Read More

Bitcoin Price Watch: BTC/USD Preparing for Next Upside Wave

Key Points Bitcoin price recently dipped and then rallied above the $6,400 level against the US Dollar. There was a break above two bearish trend lines with resistance at $6,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting lower, but it remains supported near the $6,320-00 zone. Bitcoin price is positioned in the positive zone above $6,300 against the US Dollar. BTC/USD could move back higher towards $6,500 in the near term. Bitcoin Price Analysis There were a couple of nasty…

Read More

Ripple Price Analysis: XRP/USD Signaling Upside Extension

Key Highlights Ripple price surged higher recently and broke the $0.3200 resistance level against the US dollar. There is a major contracting triangle in place with resistance at $0.3300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct a few points, but it remains supported above the $0.3100 level. Ripple price is trading with a bullish bias against the US Dollar and Bitcoin. XRP/USD needs to gain above $0.3350 for a push towards the $0.3500 level. Ripple Price Rise Yesterday, we saw a…

Read More

Coinbase Disputes Claims in New York Attorney General’s Exchange Report

A recent report published by the New York Office of the Attorney General (OAG), which claimed several cryptocurrency exchanges it investigated are vulnerable to market manipulation, has drawn backlash from industry players. In a blog post published Thursday, Coinbase’s chief policy officer, Mike Lempres, wrote that the OAG’s assertions in the report have led to misrepresentation of the exchange’s business in the media. The OAG wrote in its original report: “Coinbase disclosed that almost 20 percent of executed volume on its platform was attributable to its own trading.” In response, Lempres clarified…

Read More

Coinbase Refutes Claims in New York Attorney General’s Exchange Report

A recent report published by the New York Office of the Attorney General (OAG), which claimed several cryptocurrency exchanges it investigated are vulnerable to market manipulation, has drawn backlash from industry players. In a blog post published Thursday, Coinbase’s chief policy officer, Mike Lempres, wrote that the OAG’s assertions in the report have led to misrepresentation of the exchange’s business in the media. The OAG wrote in its original report: “Coinbase disclosed that almost 20 percent of executed volume on its platform was attributable to its own trading.” In response, Lempres clarified…

Read More

Cardano Price Analysis: ADA/USD Eyes Upside Break above $0.075

Key Highlights ADA price is trading nicely above the $0.0650 support area against the US Dollar (tethered). There is a key bullish trend line in place with support at $0.0700 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to move higher above the $0.0740 and $0.0750 resistance levels in the near term. Cardano price is positioned in the bullish zone against the US Dollar and Bitcoin. ADA/USD could move above the $0.0750 resistance to test $0.0800. Cardano Price Analysis After forming a…

Read More