Central banks should not shy away from cryptocurrencies, says ECB director Mersch, but also calls for stricter regulation.
Although criminals have a preference for cyber means of payment, even reputable investors are keenly interested in Bitcoin , Ripple or Ethereum. Recent developments in the news blog.
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ECB Director calls for stricter regulation of virtual currencies
From the point of view of ECB director Yves Mersch, central banks should not shy away from technological innovations such as cryptocurrencies. The society continues to develop and central banks would have to be prepared to change in the face of demand for virtual currencies, said the Luxembourger on Thursday in London.
Considerations, central banks should spend themselves digital money, however, met Mersch skeptical. That was associated with dangers - for example, in times of crisis. Because then possibly digital central bank money for people more attractive than bank balances. "There could be an industry-wide rush to bank balances, which would increase the impact of the crisis."
Mersch also called for a stricter regulation: "Every business of banks with virtual currency must be rigorously monitored." Dangers stemming from such transactions would have to be contained. So far, the market for cryptocurrencies is still largely unregulated. On Tuesday, the Bank for International Settlements (BIS) had warned against Bitcoin risks.
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Central Bank in Qatar prohibits trading in cryptocurrencies
The central bank in Qatar has banned banks from trading Bitcoin and other cryptocurrencies. Financial institutions and stockbrokers in the country have been "kindly asked" not to trade in cyber-visas, exchange them for other currencies, or open accounts for Bitcoin & Co, Insider told Reuters. The central bank will impose penalties in case of circumvention of the ban, it was also said in a letter from the regulator.
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Bitcoin recovers $ 8,000 mark
For the second day in a row, the most important cryptocurrency bitcoin has increased significantly. At noon, a Bitcoin is worth about $ 8,150. Statements from US financial regulators may have contributed to the price recovery. The supervisors do want harder rules for digital currencies. But do not plan perfect bans.
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Goldman Sachs predicts the demise of most digital currencies
Much of the current 1,500 crypto currencies will not last long, according to US investment bank Goldman Sachs. Rather, only a small number of competitive species are likely to survive, writes Steve Strongin, head of Investment Research at Goldman Sachs, in a recent study. The strong price fluctuations of Bitcoin and Co. speak according to Strongin for a price bubble, thus an unsustainable course level. Currently, virtually all digital currencies are under considerable pressure. Decisive in the first place are regulatory efforts in many industrialized and emerging countries. "The high correlation between the different cryptocurrencies worries me," writes Strongin in view of frequently synchronous price fluctuations. Because digital currency has no intrinsic value, such as precious metals, most of them are likely to fall to zero. (Reuters)
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Cryptocurrencies on the uptrend
The upward trend on the stock markets also arrives in the crypto empire. On Wednesday morning, all important virtual coins are clearly in positive territory. This is shown by figures from the analysis house Coinmarketcap, which compares the prices of numerous crypto exchanges. Top dog Bitcoin is therefore at $ 7,631, an increase of over 23 percent. Ethereum is up 30 percent to $ 767, and ripple is up 21 percent to $ 0.74.
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US Senate deals with crypto regulation
The bosses of two major financial supervisors stepped in to sweep claims on the Senate on Tuesday: they want the power to regulate America's crypto exchanges, SEC chiefs and derivatives supervisor CFTC, Jay Clayton and Christopher Giancarlo demanded. Even Initial Coin Offerings (ICOs), with which companies can procure fresh capital by issuing digital tokens, should no longer take place behind the back of the SEC, writes Handelsblatt correspondent Astrid Dörner .
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Central Banks umbrella organization warns of Bitcoin & Co
The Bank for International Settlements (BIS) has called on authorities around the world to focus more on cryptocurrencies such as Bitcoin. What was originally conceived as an alternative payment system without state participation has now become a mixture of financial bubble, pyramid scheme and environmental catastrophe, "warns its director-general Agustin Carstens.
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South Korea suspects North behind hacker attack on crypto exchange
Behind the hacker attack on the Japanese crypto-exchange Coincheck in January, according to the assessment of the South Korean intelligence North Korea stuck. They then captured $ 534 million of cyber-currency Nem coins. He believes that the crypto market may remain a potential target for North Korean hackers due to its size and lax regulation.
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Share price slide does not trigger escape in cryptocurrencies
For the sixth consecutive day, the prices of most cryptocurrencies fall. Of more than $ 800 billion in market capitalization in December 2017, about $ 280 billion is left on Monday morning. Bitcoin, the most significant representative of the genus, is quoted at around $ 6,200 this morning and has scratched the 6,000 mark at some venues during the night.
Even if the crypto currencies are seen as an alternative to the previous payment system, it turns out that they can not break away from the price slide on the stock markets. As a "safe haven" they have not been in the past few days.
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Bitcoin has been down more than two-thirds since highs
Bitcoin has continued its fall. The cyber motto cost $ 6375, 7.25 percent less than on Monday and was as cheap as in a quarter of a year. Thus, the cyber currency has lost more than two-thirds of its value since its high in December at just over $ 20,000. (HB)
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Bitcoin under $ 7,000
Bitcoin continued to give in on Monday, slipping below $ 7,000. In the evening, the price of the oldest and most well-known digital currency on the major trading platform Bitstamp fell to 6890 US dollars. That was about 15 percent less than on Sunday. Other virtual currencies, of which there are now around 1,500, came under some pressure even more. (HB)
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British Lloyds Bank bans Bitcoin purchase by credit card
The British banking group Lloyds Banking Group will no longer allow its customers to buy credit cards from Bitcoins and other cryptocurrencies. This was announced on Monday by the group, which includes Lloyds, Halifax and Bank of Scotland, among others.
This should protect customers from accumulating debts as a result of the sharp price fluctuations, said a spokeswoman for the German Press Agency. However, the digital currencies could still be purchased via debit card.
The Bitcoin price had recently fallen below $ 8,000. Thus, the cryptocurrency is far from its record high in mid-December of about $ 20,000. Other digital currencies have also lost much of their value. (Reuters)
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South Korea accuses the North of stealing cryptocurrency
South Korea accuses North Korea of stealing cryptocurrency. In hacker attacks, in 2017, several million won worth of Internet currency has been stolen, said Kim Byung-Kee of the South Korean Parliament's intelligence committee on Monday. The order of magnitude corresponds to several hundred thousand euros. "North Korea has sent e-mails that have been used to hack cryptocurrency trading sites and customer data." The South Korean intelligence agencies believed the attacks would continue. Kim left open which stock exchanges should be affected. It was not until the end of January that Coincheck, one of the most important trading venues for cryptocurrencies in Tokyo, had been the victim of a hacker attack. (Reuters)
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Bitcoin drops back below $ 8,000
The high price fluctuations in cryptocurrencies continue to dominate trading. Bitcoin battled over $ 9,000 this weekend. But at the beginning of the week, the digital currency is again under great pressure. At the Bitstamp trading center, the currency slid below $ 8,000 on Monday morning.
Compared to Sunday, other significant cryptocurrencies are in the double-digit percentage range. Ethererum is quoted at around $ 825, ripple at $ 0.80.
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Shutterstock founder Jon Oringer - Conservative in crypto questions
Oringer has made a lot of money with the digital photo exchange Shutterstock. However, he does not think much of the concept of using cryptocurrencies to raise his own share price, writes Handelsblatt correspondent Katharina Kort .
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How authorities could destroy Bitcoin
Even skeptics fascinate the technology behind the cryptocurrencies. The main advantage of the blockchain is its falsifiability, you often read. But that's exactly what's wrong. Why investors need to know the "51 percent attack".
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Bitcoin on zig-zag course
After the drastic drop in prices until Friday noon, the value of the most well-known cryptocurrency has recovered. A bitcoin was worth a little over $ 8,800 this afternoon. At noon, the digital currency had fallen below $ 8,000. The crash in other cryptocurrencies recovered. The daily decline for Ripple shrank from over 30 percent to about ten percent. (HB)
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UBS checks crypto currency rules for its own employees
The Swiss bank UBS is considering making its own employees rules for the private handling of cryptocurrencies. So far, there are no requirements for the private investment and an indication to the employer or prior approval is not necessary, the bank said in a memo to the workforce, the news agency Bloomberg has viewed. But the institute is considering "additional specifications and prerequisites". This could include employees having to seek approval in the future to be able to trade cryptocurrencies. (Bloomberg)
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Bitcoin now worth less than $ 8,000
The price decline continues. For the first time since November 2017, Bitcoin at key venues like Bitstamp is worth less than $ 8,000.
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Bitcoin on its way to $ 8,000
On the Bitstamp trading platform, the Bitcoin price on Friday morning slid to $ 8,094. Over the past 24 hours, the digital currency had been worth up to $ 9,572 there.
Last fall, the Bitcoin had set to a high-altitude flight. In mid-December, the price had risen to a record high at about $ 20,000. In the current week, the Bitcoin has lost about 30 percent in value. Also in other digital currencies such as Ripple it came shortly before the weekend to a massive price slump. (HB / dpa)
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Bitcoin rate drops again
The price gains of Thursday evening has now lost the Bitcoin again and even undercut the low on Thursday again. At the moment, according to Coinmarketcap, he stands at 8,290 dollars.
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Ripple price drops by 30 percent
Also on Friday morning the most important crypto currencies are deep in the red area. According to the platform Coinmarketcap 15 virtual currencies with the highest market capitalization note between 15 and 30 per cent in the minus. Particularly high were the losses at Ripple: The price fell by 30 percent to 0.78 dollars.
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Bitcoin unwanted in business
Only seven percent of entrepreneurs can imagine accepting cryptocurrency customer payments within the next two years. 80 percent wave off. This has resulted in a survey of the business associations The Family Entrepreneurs and The Young Entrepreneurs exclusively for WirtschaftsWoche .
The almost 600 interviewed company bosses are also skeptical whether Bitcoin and co. Can prevail in the long term on the market. Only 19 percent believe this. Almost twice as many consider cyber money to be a monetary episode. Another 46 percent of respondents are unsure.
"Many cryptocurrencies and their possible use cases are very interesting. But the application needs to become much more user-friendly before cryptocurrencies can prevail across the board, "says Reinhold von Eben-Worlée, president of the Family Entrepreneurs Association. Above all, the strong price fluctuations made its use in everyday operations difficult. However, the head of the association does not like writing off Bitcoin in operation. The development was "far from completed". (Business Week)
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Bitcoin drops to its lowest level since November
Bitcoin has continued to decline throughout the day. In the meantime, it even dropped to its lowest level since November 2017: to $ 8,449. Later, he made some of the losses but again and climbed, according to Coinmarketcap to 9,144.82 dollars. According to the Bloomberg news agency, the cryptocurrency reached a record high of $ 19,511 in mid-December and has since lost more than half of its value.
Bitcoin died 154 times in the last 19 hours
Bitcoin at its lowest level since the beginning of the year
The Kurstalfahrt at the world's most important cryptocurrency continues: On Thursday, the Bitcoin sagged, according to analysis house Coinmarketcap, which evaluates numerous stock market data, to about 9,416 dollars. The price falls below the previous year's low of $ 9,529 on 17 January. Already on the night of Wednesday he had broken into $ 9,777, but then again climbed above the psychologically important $ 10,000 threshold. The other major crypto currencies, including Ripple and Bitcoin Cash, are down significantly on Thursday. The only exception: As in previous days, Ethereum is decoupling itself from the downtrend and is trading close to two percent plus.
The Bitcoin dinosaur formation is breaking down pic.twitter.com/XUkIIYfkiL
Enel does not want to make money with Bitcoin miners
The largest European energy company Enel has let down the bitcoin-miner greedy for cheap electricity. Enel has no interest in supplying electricity for the production of cryptocurrencies , the Italian company said on Thursday .
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India has something against cryptocurrencies
The Indian government does not consider cryptocurrencies like Bitcoin a legal tender and wants to take steps to stop payments with digital currencies. Finance Minister Arun Jaitley issued a statement on Thursday to Indian parliamentarians. However, the rejection does not apply to the crypto-currency underlying technology. "The government will actively investigate the use of blockchain technology to drive the digital economy," Jaitley continued. (Bloomberg)
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According to the Coinmarketcap platform, the cryptocurrency has fallen below $ 10,000. Currently, it is listed at $ 9,880, a daily drop of more than three percent.
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The reasons for the worst Bitcoin month since 2013
The most important crypto currencies are clearly in negative territory. The Bitcoin recorded in January even the largest price decline since 2013. The global intervention of the supervisors works, writes Felix Holtermann .
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Bitcoin fluctuates around $ 10,000
The Bitcoin continues to struggle with the $ 10,000 mark. On Wednesday afternoon, he is listed at $ 9921. (HB)
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Facebook prohibits advertising for cryptocurrencies
Facebook prohibits advertising for digital currencies like Bitcoin. There are too many providers who fraudulently wanted to jump on the current interest in Krypto money, Facebook said in support of a blog entry. Therefore, they deliberately opted for a broad ban, while working for the future to better detect fraudulent and misleading advertising in the field. The stop applies to both the Facebook platform and the photo service Instagram. At the same time, Facebook acknowledged that not all ads may be filtered out and encouraged users to report slipping questionable ads. (AP)
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The car will soon have its own account - thanks to Blockchain
In his Handelsblatt column , Volkswagen Chief Executive Officer Johann Jungwirth writes :
"Cars will not only drive independently in the future, but also pay for the fuel bill and parking fees. The Internet of Things makes it possible. Crucial here: An advancement of the blockchain technology. "
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South Korea is considering no trade ban for cryptocurrencies
A possible ban on trading Bitcoin & Co. in South Korea is apparently off the table. "We have no intention of banning or suppressing the cryptocurrency market," South Korean Finance Minister Kim Dong-yeon said Wednesday. "The regulation of the stock exchanges is the urgent task of the government." So far, there are hardly any legal frameworks for the business with cyber foreign exchange. In recent weeks, speculation surrounding the closure of all South Korean crypto exchanges has been causing a stir, sending the course of the oldest and most important Internet currency, Bitcoin, plummeting. (Reuters)
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Venezuela is pushing forward its own cryptocurrency plan
The plans of the crisis-ridden Venezuela for its own cryptocurrency are becoming more concrete. President Nicolas Maduro said on Tuesday that the presale for Petro's Cyberdevise should start on February 20. The left-leaning government aims to capitalize on the boom in Bitcoin and other online currencies to alleviate their financial woes and circumvent US sanctions, which largely shun the South American Opec country from the financial market. Maduro had announced the digital currency in December surprisingly. It should be secured with the mineral deposits. Recently, the issue of 100 million petro and thus a volume of about six billion dollars was mentioned. (Reuters)
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US Securities and Exchange Commission stops new Cyberdevise for suspected fraud
The US Securities and Exchange Commission (SEC) has stopped the $ 1 billion issue of a new cryptocurrency by a Texas money house for fraud allegations. The AriseBank from Dallas have for their plan to investors with the false evidence that they have bought a bank, which is covered by the American deposit insurance FDIC, the authority said on Tuesday
