First up, Coinbase is hit with not one but two class action Lawsuits! They've been accused of insider Bitcoin Cash trading and when you look at it's price chart, it doesn't help their case whatsoever...in brighter news though it plans that Coinbase may be planning to start a Crypto fund as the unicorn eyes further expansion. Sticking with the shady side of the law, TechCrunch founder's Crypto fund, Arrington XRP Capital, was subpoenaed by the SEC....let's see where this one goes!
Moving on from busy lawyers to governmental crackdowns, Quebec throws cold water on Bitcoin miners seeking cheap power. A spokesperson said “If you want to come settle here, plug in your servers and do Bitcoin mining, we’re not really interested,” also stating that cheap power wouldn't be available for those not adding value to society. Next up, Bank Of England governor Mark Carney says Crypto exchanges face regulatory clampdown! He said "The time has come to hold the crypto-asset ecosystem to the same standards as the rest of the financial system". Staying in the UK, Shadow Secretary Diane Abbott has called Bitcoin a Ponzi scheme! She was quoted saying "If everyone took their bitcoin money and tried to buy a new car all at once the whole thing would collapse"...... well yes much like many financial markets but hey ho.
Moving on, US regional banks begin to cite crypto as a business risk...did somebody say disruption? On to Asia- Bitcoin's Kimchi premium has all but evaporated. During Bitcoin's run up to $20,000, South Korean traders were paying 10%+ premiums due to incredible demand...during the recent market correction that has all but diminished!
Finally, Credit Suisse and ING finalised the first live transaction using HQLAX securities lending app on R3's Corda blockchain platform......really interesting stuff!
- Coinbase Hit with 2 Class Action Lawsuits: Accused of Insider Bitcoin Cash Trading | Investopedia
- Subscribe to read
- TechCrunch Founder's Crypto Fund Subpoenaed By SEC - CoinDesk
- Quebec Throws Cold Water on Bitcoin Miners Seeking Cheap Power - Bloomberg Quint
- Cryptocurrency exchanges to face regulatory clampdown, says Bank of England's Mark Carney | The Independent
- Diane Abbott: Bitcoin is 'Ponzi scheme,' Labour would regulate it - Business Insider
- US Regional Banks Begin to Cite Crypto as Business Risk - CoinDesk
- Bitcoin's 'Kimchi Premium' Has All But Evaporated - CoinDesk
- Credit Suisse and ING execute first live transaction using HQLAx securities lending app on R3’s Corda blockchain platform – R3