A bill has been circulated for discussion by the Democratic majority which leads the House Financial Services Committee to propose barring big technology companies from offering financial services. If it ends up becoming law, major tech companies would not be able to act as financial institutions or issue their own digital currencies.
Facebook’s launch of its Libra cryptocurrency was never going to go through without scrutiny from lawmakers. Not long after the ambitious project was revealed by Facebook CEO Mark Zuckerberg, House Democrats are now calling on the company to put the development of its Libra cryptocurrency and its Calibra digital wallet on hold.
Some of the largest cryptocurrency mining operations are understandably located in China but this isn’t something that the country feels is worth doing. Regulators in China appear to be even considering a ban on cryptocurrency mining altogether as they have classified it as an “undesirable” economic activity.
QuadrigaCX, a Canadian cryptocurrency exchange, finds itself in a pickle after the death of its 30 year old founder Gerald Cotten. The founder was the only person who had the passwords to the exchange’s cold storage. This means that most of the $190 million in client holdings that the exchange has are now stuck in limbo.
Razer today announced the launch of a new desktop app called the Razer SoftMiner. The app makes use of idle GPU processing power of gamers’ powerful machines to mine for cryptocurrencies in the background. The mining process involves solving complex puzzles on the blockchain. Those who use this app will be rewarded with Razer Silver virtual credits depending on how long they have SoftMiner running.
It was common to see social media influencers and even some celebrities promote ICOs or cryptocurrency offerings over the past year as the digital currency market was in a frenzy. The U.S. Securities and Exchange Commission has been looking into these promotions and is now handing penalties to those who promoted ICOs without disclosing their investments in the coin.
Bitcoin has had a rough couple of weeks as its value continues to nosedive. However, support for the virtual currency continues to grow. Ohio has become the first state to allow businesses to pay their taxes with Bitcoin. It has opened a new cryptocurrency portal for this purpose. The Wall Street Journal reports that Ohio seems to be the first state to allow businesses to pay their taxes with a […]
Gone are the days when it felt like the value of bitcoin and other cryptocurrencies would just keep on climbing. The values have tanked pretty hard over the past year and continue to do so. The bitcoin value has now hit a new low for the year 2018, hitting its lowest point since September 2017. It’s down a staggering 30 percent for the week.
Mining for cryptocurrencies such as Bitcoin and Ethereum requires a lot of mining machines which obviously require a lot of power. A school headmaster thought he had found a way to continue mining for Ethereum without racking up his power bill. He just hooked up the machines to his school’s electricity supply which was obviously not allowed. He was fired once the machines were discovered.
To prevent people from falling victim to cryptocurrency scams that were reaching a fever pitch during the heights of the cryptocurrency boom just a few months ago, Google decided to ban all sorts of cryptocurrency-related ads on its network. The internet search giant has now decided to relax the ban on cryptocurrency ads as it’s going to allow regulated exchanges to advertise on Google in select markets.
Line, the Japanese messaging app that’s quite popular in Asia, has announced the launch of its own cryptocurrency called Link. The idea is to bring in more users and retain them. The Link token will be given away for free to users when they complete certain activities. This lets Line get its token out to users without conducting an initial coin offering and asking them for money upfront for the […]
Line is a messaging service that’s particularly popular in Asia. The messaging app has more than 200 million users largely focused in markets like Thailand, Japan, and Taiwan. It has been making significant moves recently into the cryptocurrency space. The company launched its BitBox crypto exchange last month but it’s not available in the United States or Japan due to regulatory challenges. It has now announced the launch of a […]
IBM has decided to experiment with a digital currency that’s pegged to the United States dollar. The cryptocurrency stablecoin is tied to the government-backed currency that is the USD. The idea behind tying up the cryptocurrency with an existing currency is to reduce the volatility that’s often seen with digital currencies.
A FIFA World Cup gambling ring has been busted by officials in China which had reportedly took in bets worth more than 10 billion yuan or $1.5 billion in cryptocurrency bets. The authorities are said to have arrested six individuals linked to a web-based crime syndicate that’s connected to the dark web. Cryptocurrencies worth more than 10 million yuan were found in their possession and seized.