Welcome to my Cryptocurrencies Market Overview for Tuesday, February 06, 2018.
Today in the news:
- The price of bitcoin is back above $7,000 after a low of below $6,000.
- The chairman of the U.S. Commodity Futures Trading Commission (CFTC) takes a 'Do No Harm' approach on crypto regulation.
- Singapore’s deputy prime minister has stressed there is no reason to ban cryptocurrency trading.
- Coinbase announced on Twitter they will launch SegWit for Bitcoin in the next few weeks.
- And more crypto news below...
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Latest Crypto News - February 06, 2018
Bitcoin's Price Has Nearly Unwound Its Futures Boost
Futures may have boosted bitcoin above $10k, but it appears that rally has all but unwound. Bitcoin's drop to 3-month lows below $6,000 could be seen as the completion of a round trip.
Read more: www.coindesk.com
Other sources:
CFTC to Take 'Do No Harm' Approach on Crypto Regulation
The chairman of the U.S. Commodity Futures Trading Commission (CFTC) has spoken of the need for balance and a "do no harm" approach when regulating cryptocurrencies.
Read more: www.coindesk.com
Other sources:
- US: SEC, CFTC Cryptocurrency Meeting Continues Existing Regulatory Narrative (Cointelegraph)
- U.S. Regulators Calls For Balance Rules on Cryptocurrencies, Suggests ‘Do No Harm’ Policy (Cryptovest)
Coinbase Confirms 4 Banks Blocking Bitcoin Credit Card Purchases
Credit card holders from four U.S. banks have been barred from purchasing cryptocurrencies using credit cards at Coinbase, the exchange has confirmed.
Read more: www.coindesk.com
Indian Government Leans Toward Calling Bitcoin an Asset
There seems to be a fair amount of uncertainty and misinformation regarding India’s stance on Bitcoin and cryptocurrencies. More specifically, a few news outlets have reported that the country would ban Bitcoin altogether. There’s no evidence to back up such claims right now. Moreover, the secretary of the country’s Department of Economic Affairs claims there will not be any regulation for at least another two months. The general outlook is rather positive, rather than negative.
Read more: themerkle.com
No Strong Reason to Ban Cryptocurrency Trading: Singapore Deputy PM
Following a keen study on cryptocurrencies and their trading by the country’s central bank, Singapore’s deputy prime minister has stressed there is no reason to ban cryptocurrency trading among residents.
Read more: www.ccn.com
Other sources:
- Singapore Lawmakers Question Prime Minister Over Crypto Regulation (Coindesk)
- Singapore Confirms It Will Not ‘Ban’ Cryptocurrency, Has No ‘Risk Concerns’ (Cointelegraph)
China's Ban on Crypto Trading: What was Really Restricted?
Some believe the news of China restricting access to ICO sites and possibly trading platforms may be exaggerated worrying news. So what did China really ban or restrict?
Read more: cryptovest.com
New Zealand Cryptocurrency Exchange Forced into Bank Account Closure
Cryptocurrency exchange Cryptopia has announced that its bank is to close its New Zealand dollar-tethered (NZDT) trading accounts.
Read more: www.ccn.com
Australia’s ‘Big Four’ Banks Will Not Prohibit Bitcoin Buy Transactions
Australia’s biggest banks have ruled out any notion of barring customers from buying cryptocurrencies like bitcoin.
Read more: www.ccn.com
Coinbase Will Launch SegWit for Bitcoin in the Next Few Weeks
In a few weeks, Coinbase will offer their customers an update on Bitcoin SegWit which is expected to improve transaction capacity of the Bitcoin network.
Read more: www.coinspeaker.com
Taiwan Official: Government Should Prepare for Crypto Collapse
A senior Taiwanese official is urging the government to prepare policies to tackle the potential impact of cryptocurrencies on the island's financial stability.
Read more: www.coindesk.com
Think Crypto Loses Money? See the Dow Wipe Out Wealth
Cryptocurrencies sand a siren song in December, taking newcomers on board, and leading to some steep losses. But how is traditional investment faring?
Read more: cryptovest.com
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