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cryptocurrencies

Federal Regulators Look for Closer Cryptocurrency Cooperation

As many cryptocurrency enthusiasts and investors know, the major issue looming over cryptocurrencies is the prospect of future regulation. In most jurisdictions, regulators have taken a relatively light touch so far. Aside from registering with government authorities and complying with money services business regulations, know your customer (KYC) laws, and anti-money laundering (AML) regulations, cryptocurrency exchanges and businesses haven’t had to do too much additional work to comply with government agencies. But that could change if regulators decide that [...]

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Buffett, Munger, Gates Come Out Swinging Against Bitcoin

The Berkshire Hathaway annual shareholder’s meeting was held this past weekend, and it featured a number of high-profile comments about Bitcoin. As was perhaps to be expected by those who have benefited greatly from speculative activity in the stock market, all of them were bearish on Bitcoin and bullish on stocks. Three billionaires, Warren Buffet, Charlie Munger, and Bill Gates all teamed up against Bitcoin, helping to keep a surging Bitcoin from breaking the $10,000 threshold over the weekend. Buffett’s [...]

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bitcoin mining

More Than 80 Percent of Bitcoin’s Total Supply Has Been Mined

Bitcoin’s 17 millionth coin was just mined recently, meaning that over 80 percent of all bitcoins that will eventually be created are now in existence. Bitcoin’s cap of 21 million coins is expected to be reached in 2140. Many of the bitcoins currently in existence are not being or cannot be used. That includes the one million or more bitcoins believed to be held by Bitcoin founder Satoshi Nakamoto, as well as bitcoins that have been lost over the years [...]

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Federal Trade Comission

FTC to Host Cryptocurrency Workshop for Investors

Adding to the list of alphabet soup agencies nudging into the cryptocurrency arena, the Federal Trade Commission (FTC) plans to host an informational workshop devoted to examining cryptocurrency scams. The workshop is scheduled to take place in Chicago on June 25, and will also be broadcast live on the internet. The FTC workshop is entitled “Decrypting Cryptocurrency Scams,” and will feature law enforcement officials, consumer groups, and researchers who will discuss how scammers are targeting investors and how investors [...]

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ethereum

Is Ether a Currency or a Security?

The price of ether, the cryptocurrency component of Ethereum, took a hit yesterday after reports that it has fallen under the watch of federal securities regulators. Whether ether is a security or a currency is under debate. Since there is no single federal financial regulator, competing agencies may try to expand their clout and bring new markets under their regulatory control. That may be the case with cryptocurrencies, as the Commodity Futures Trading Commission (CFTC) has labeled cryptocurrencies as [...]

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warren buffet

Warren Buffett Doesn’t Think Bitcoin Is an Investment

In the days leading up to Berkshire Hathaway’s annual shareholder meeting, Warren Buffett is in the news once again, as the “Oracle of Omaha” becomes the focus of much of the financial media’s attention. This time around he has made headlines for his comments on Bitcoin, claiming that those who invest in Bitcoin are actually engaged in gambling, not investing. According to Buffett, if you “buy something like Bitcoin or some cryptocurrency, you don’t really have anything that has [...]

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amazon

Amazon Filed a Patent to Remove Bitcoin’s Anonymity

With the increasing popularity of Bitcoin and the blockchain, more and more companies are pushing new blockchain ventures. But while many of those companies are trying to do their best to appeal to consumers and meet consumer needs, others are trying to anticipate the desires of government agencies and provide products for them. Enter Amazon. In a recently approved patent that Amazon first filed in 2014, the company created a method for removing the anonymity inherent in cryptocurrency transactions and [...]

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litecoin founder

Litecoin Founder Has Regrets About Selling His Coins

Litecoin founder Charlie Lee famously sold his entire holdings of Litecoin back in December. Now, he’s expressing some regret that he sold those coins. At the time, Lee stated that he wanted to ensure that Litecoin remained decentralized and that there would be no appearance of a conflict of interest, since as the currency’s founder he had retained a significant amount of Litecoin. Lee sold his Litecoin when it had reached a price of about $322 per coin. Now Litecoin [...]

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huobi

Huobi Enters Europe Through London

Top cryptocurrency exchange Huobi, currently the world’s 4th-largest exchange, has followed the lead of many of its competitors by expanding its operations to Europe. Unlike most of its competitors, however, Huobi has decided to start up its European operations in London. As Huobi Group Vice President Peng Hu stated: “Not Malta, not Switzerland. Absolutely London, more precisely Britain, is the entry point for the European market for us. Soon we will have an office here.” According to Huobi, London was [...]

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european parliament

EU Parliament Adopts Stronger Cryptocurrency Regulation

The European Parliament has recently voted to enact stronger regulation of cryptocurrency companies, including exchanges and wallet providers. The move comes in the wake of a December 2017 agreement with the European Council to enact new measures to combat the potential use of cryptocurrencies in money laundering, tax evasion, and other criminal activity. Once the EU Parliament’s new directives go into effect, EU member states will have 18 months to enact the new provisions into their own country’s national [...]

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