Are Stiffer Bitcoin Regulations Brexit’s Surprising Side-Effect

brexit UK bitcoin regulation
When Brexit finally arrives, it could have a surprising side-effect for the UK's crypto industry: stiffer regulations on bitcoin. | Source: Shutterstock

By CCN: The prolonged process for withdrawing from the European Union may have resulted in great uncertainty, but the UK’s financial watchdog is sure about what it wants post-Brexit – more muscle to oversee bitcoin and the crypto industry at large.

According to the Financial Conduct Authority’s business plan for 2019/2020, the regulator will urge Her Majesty’s Treasury to boost its enforcement powers in the crypto sector ahead of Brexit. Per FCA’s chief executive, Andrew Bailey, UK’s EU withdrawal is the body’s most pressing and urgent challenge.

Andrew Bailey on our Business Plan 2019/20 https://t.co/4Juptx0QcY pic.twitter.com/d5guGsyJtV

— FCA (@TheFCA) April 17, 2019

The financial watchdog intends to first hold public consultation first, though, before its enforcement powers can be increased:

“Following our consultation on cryptoassets we will publish a Feedback Statement and finalised Perimeter Guidance. We will also provide technical advice to the Treasury on extending the perimeter for utility and exchange tokens and on extending our financial crime provisions to certain activities related to cryptoassets.”

Is FCA Too Eager to...


Winklevoss Reach Settlement With Charlie Shrem

 Winklevoss Twins Reach Settlement With Charlie Shrem
Winklevoss Twins Reach Settlement With Charlie Shrem

The Winklevoss twins reached a settlement with Charlie Shrem on April 16, 2019, declaring that their case against him has been dismissed with prejudice and will not be reopened.

The twins, who founded the Gemini cryptocurrency exchange, originally sued Shrem, the founder of early bitcoin company BitInstant, in November 2018, alleging that Shrem stole 5,000 bitcoin from the pair in 2012. They asserted that Shrem agreed to build a stockpile of cryptocurrency for them at their expense but then came up short by nearly $60,000 in bitcoin at the contemporary market rate, keeping this portion of the hoard secret until its worth grew to the tens of millions of dollars.

As the...


Crypto Analysis - Litecoin Price Running Out of Gas After Rally

litecoin price cryptocurrency
The litecoin price has boomed in 2019. One crypto analyst says it can't keep this pace up much longer. | Source: Shutterstock

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By CCN: The litecoin price has been one of the cryptocurrency market’s top performers in 2019, climbing a ridiculous 162 percent since the new year.

Among large-cap cryptoassets, only binance coin has performed better, and litecoin’s year-to-date rally leaves the bitcoin price’s 40 percent advance in the dust. However, one team of crypto analysts says the sixth-largest cryptocurrency looks poised for a sell-off.

Litecoin Price Likely to Crash Through Support – And That’s OK!

litecoin price crypto analysis
The sixth-largest cryptocurrency has climbed more than 150 percent in 2019. It might be running out of gas. | Source: CoinMarketCap

Writing in a note to clients on Wednesday, crypto brokerage BitOoda said that a downward wedge has begun to form on the litecoin chart, suggesting that the cryptocurrency could be on the verge of a short-term breakdown. That sell-off would likely cause the litecoin price – which currently holds near...


Ripple Confirms Crypto-Powered xRapid ‘Global Expansion’ Plans

XRP, Ripple
San Francisco-based Fintech Ripple has big plans for crypto-token XRP as a remittance product. | Source: Shutterstock

By CCN.com: Asheesh Birla, the senior vice-president of product at San Francisco-based Ripple, recently revealed that the company has aggressive expansion plans for xRapid, its XRP-powered crypto remittance platform.

Ripple’s vision of changing the payments landscape

During an ask-me-anything session hosted by Ripple’s Ginger Baker, Birla said that the company is in the process of expanding its cross-border payments platform to more countries across the globe. He said:

On demand liquidity is available today in Mexico and the Philippines. So far, the positive responses from our customers in those two countries has (sic) been overwhelming. But we are working on the next set of destinations, which we will be announcing in hopefully short order here.

I know our product teams and marketing and engineering teams are working hard to light up those next set of destinations so that we can provide our customers with increased choice in terms of global expansion.

Ripple can partner with cryptocurrency exchanges across the globe that are capable of accepting fiat currency from banks. It then converts fiat money into XRP and transmits it to the destination, where it is instantly converted back into fiat.

Chris Larsen Ripple
Ripple co-founder...

Quick and Easy Way to Multiply Your Portfolio (and Protect it) with Crypto Lending

The moment the crypto community has been waiting for has finally arrived, (for now). Out of nowhere, Bitcoin has demolished resistance levels and the crypto market is showing bullish signals. In times like these, your portfolio will multiply by itself, but if you really want the most out of this bull run, let’s see how crypto lending can help. Alternatively, we’ll show you a few tips to hedge your portfolio in case this “pump” becomes a “dump.”

HOW TO BUY MORE CRYPTO FAST IN A BULL MARKET: YOUHODLER

In both bullish and bearish markets, time is an important factor. Depositing fiat money from a bank to crypto exchange can take too long. To really capitalize on market movements, you need cash and you need it quick. YouHodler’s FinTech platform offers a lightning-fast solution for crypto lending users. After signing up and passing a quick KYC procedure, users can put up their crypto as collateral (BTC, BCH, BSV, ETH, LTC, XRP, and XLM) and receive a cash loan in minutes.

HOW TO MULTIPLY YOUR CRYPTO IN A BULL MARKET

Let’s use an example. You have 100 LTC and you want to use that as collateral for a cash loan. In exchange, you get around $5,000 without having to sell your LTC assets. If the market is bullish like it is now, you can use this loan to buy more LTC, effectively multiplying your holdings. If the market keeps growing, the gains...


Coinbase Confirms Extent of $255 Million Crypto Insurance Coverage

Coinbase has revealed the details of its insurance arrangements for cryptocurrency held on customers’ behalf, a rare move in an opaque market.

In a blog post published Tuesday, Philip Martin the exchange’s vice president of security, confirmed that it is covered for up to $255 million for coins held in so-called hot wallets – in other words, assets which are essentially online and open to potential hacks. CoinDesk first reported in November that Coinbase’s coverage was in this ballpark.

San Francisco-based Coinbase holds less than 2 percent of customers’ assets in hot wallets, with the remaining 98 percent at arm’s length from third-party attacks in cold storage, where the private keys are offline, the company told CoinDesk. (At its height during the crypto bull market, the company stored $25 billion worth of assets on customers’ behalf, but the company would not provide a recent figure.)

This policy was placed by Lloyd’s registered broker Aon and sourced from a global group of US and UK insurance companies, including certain Lloyd’s of London syndicates, Martin’s blog post said. He did not name the individual underwriters.

Lloyd’s, which gathers under one roof a range of specialist insurance markets dealing with everything from crime and cyber attacks to natural disasters, is viewed as a seal of approval when it comes to underwriting potential losses of crypto assets.

Previously secretive about publicizing anything about insurance of digital assets, Lloyd’s is steadily becoming more visible, for a certain class of crypto customer at least.

For instance, last month security specialists BitGo trumpeted $100 million of cover for crypto held in cold storage and went as far as naming the lead Lloyd’s underwriter of the policy.

In fact, much of Martin’s post could be read as a veiled dig at BitGo, since he talks about “recent news and announcements” around crypto insurance, suggesting a lot of “confusion” still exists. He then advises firms to focus on hot wallet cover as opposed to cold storage, where value is “at rest” and therefore not so much at risk.

Regarding Coinbase’s blog post, Clarissa Horowitz, VP marketing, BitGo, told CoinDesk via email:

“We’re glad to see that Coinbase is following our lead in bringing more transparency to the discussion of insurance for digital assets. Insurance is complex and transparency is essential for building...


A16z Placing Bigger Bets on High-Risk Assets – Including Digital Currencies

Andreessen Horowitz can now back crypto startups with potentially up to $1 billion, after reportedly making some recent internal changes.

The company’s founders – Marc Andreessen and Ben Horowitz – told Forbes that they had registered all of its 150 employees as financial advisors, so as to allow them to place larger bets and invest more heavily into high-risk asset classes, such as cryptocurrencies.

As such, A16z is shifting away from being a traditional venture capital firm, with its 150 employees each becoming a financial advisor.

According to Forbes, the company can now put as much as $1 billion in these riskier bets, such as cryptocurrency or other digital assets. The firm can also “buy unlimited shares in public companies or from...


Brian Kelly Reveals Just How High This Bitcoin Rally Will Go

brian kelly, bitcoin price
Hedge funder Brian Kelly says the bitcoin price could break as high as $6,500 during the present run. | Source: CNBC/YouTube

The crypto bulls are out in full force, and price predictions are back. Crypto trader Brian Kelly has consistently stuck up for bitcoin, even during the market downturn. Now BTC is returning the favor with today’s double-digit percentage rally. Kelly has taken his cue, telling CNBC that the $6,000 to $6,500 range is the new resistance and that’s exactly where the bitcoin price is headed:

“Probably a reasonable target is close to $6,000 for this move.”

Based on fundamentals, bitcoin could rise as high as the $6,500 to $6,800 range before there’s even a hint of it being overvalued in the current cycle. Kelly believes that at the very least, the market has begun to put in a bottom based on historical patterns. He points to a shift in sentiment, one that includes institutions and one that is being fueled by a trifecta across fundamentals, technical signals, and quantitative analysis that his firm BKCM performs.

Bitcoin is blossoming this spring! @BKBrianKelly weighs in on what’s behind today’s 15% move pic.twitter.com/t7sWLycc7r

— CNBC Futures Now (@CNBCFuturesNow) April 2, 2019

Bitcoin ETF Rumors Percolate

It’s important to note that much of the gains in the bitcoin price appear to be being fueled by the technical signals, both...


Bitcoin’s Rally Caused This Nasdaq Stock to Surge 20%

bitcoin, nasdaq, riot blockchain
Bitcoin's mammoth Tuesday rally was mirrored by a Nasdaq-listed blockchain stock. | Source: Shutterstock

As Bitcoin’s sudden rally higher captures the world’s attention, it is not only the cryptocurrency investment that is racing back into the light. Any company associated with BTC is experiencing a green day, and naturally, Riot Blockchain (RIOT) is no exception. Despite fading a lot of its daily gains, the crypto mining outfit is still up more than 20%, outperforming most cryptocurrencies.

Riot Blockchain Lives and Dies With the Bitcoin Price

riot blockchain, bitcoin price
Riot Blockchain popped more than 20% in response to the crypto market’s similar surge. | Source: Yahoo Finance

Most articles in the mainstream financial media are pushing the “no-one knows” line about the rally in the Bitcoin Price. Anyone who read this article on CCN yesterday knows that BTC/USD was on the verge of breaking a significant technical level. In an illiquid market where everyone is watching momentum and price action way more than they look at fundamentals, a mass of trend following orders would naturally spike the market aggressively.

Understanding what would cause appetite for Riot Blockchain to surge higher is even more straightforward. They...


Overstock’s tZERO Exchange to Launch Bitcoin Trading App This June

Overstock’s security token platform tZERO is going full crypto.

Until now, security tokens had been the startup’s priority, but this summer, tZERO plans to launch its own mobile trading app for buying and selling bitcoin and, possibly, ether, CEO Saum Noursalehi told CoinDesk Thursday.

The app for IOS and Android devices is scheduled to launch in June and is being developed by Bitsy — a crypto startup in the portfolio of Overstock’s venture arm Medici Ventures.

“That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app,” Noursalehi told CoinDesk, adding:

“They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login.”

The app, he added, will allow users to hold custody of their crypto without relying on a third party, and will plug into a network of exchanges through tZERO’s partner, institutional trading platform SFox.

tZERO’s app will connect to SFox’s network of exchanges via its...