Cryptocurrencies Market Overview - September 11, 2017

Bloomberg and the Wall Street Journal have both published an article today on China possibly halting trading on the main Bitcoin exchanges in the country. Both articles declare that there is no official word from the People Bank of China or any other government organization on the ban. This seems like coordinated FUD (Fear, Uncertainty and Doubt) to me. There is no official statement, but only a few Chinese news sites spreading fake news in my opinion. Perhaps they are managed by people who sold their Bitcoins for about $5000 each and now want to buy back their coins for a lower price. We'll see how this turns out...

China’s central bank said it couldn’t immediately comment.
https://www.bloomberg.com/news/articles/2017-09-11/china-is-said-to-ban-bitcoin-exchanges-while-allowing-otc-trades-j7fofh20

The People’s Bank of China didn’t respond to a request for comment. A Huobi spokeswoman declined to comment beyond the firm’s press release. Another domestic exchange, OKCoin, didn’t respond to request for comment.
https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862

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Latest Crypto News - September 11, 2017

China's bitcoin exchanges await clarification, markets subdued for now

China’s largest bitcoin exchanges are awaiting clarification from the government following more media reports that Beijing is planning to ban trading of virtual currencies on domestic exchanges, but markets were largely subdued on Monday.
Read more: reuters.com

Another ICO Conference Cancels in Wake of China Ban

A conference expected to focus on token sales has been cancelled following news that regulators in China have formally outlawed the use case.
Read more: coindesk.com

South Korean Court Declares Bitcoin Confiscation Illegal

After Police seized 216 Bitcoins from an individual that was suspected to be involved in illegal activities with the digital currency, it was ruled by a South Korean court that the seizure was illegitimate.
Read more: cointelegraph.com

MASTer Plan: Better Bitcoin Smart Contracts Could Go Live This Year

The wait for more advanced bitcoin smart contracts might soon be over. Spurred by last month's SegWit activation, bitcoin developers are reviving a plan that would see the world's most popular blockchain retooled with functionality long synonymous with ethereum and its more expressive code executions.
Read more: coindesk.com

WSJ, Bloomberg Latest to Claim Bitcoin Exchange Crackdown in China

Bloomberg and the Wall Street Journal are reporting that China will move to shut down bitcoin exchanges, citing unnamed "informed sources."
Read more: coindesk.com

Russian Finance Minister: 'No Point in Prohibiting' Cryptocurrencies

Russian Finance Minister Anton Siluanov said his department will regulate the use of cryptocurrencies in the country by the end of 2017.
Read more: coindesk.com

China Returns To Bitcoin Platform Localbitcoins As ‘FUD’ Excites Markets

Bitcoin trading platform Localbitcoins has posted new all-time highs as China’s looming trading ban leads traders to seek alternatives. Data from Coin Dance shows a new weekly high for global volumes on Localbitcoins, with $53.4 mln dollars changing hands in the week ending Sept. 9.
Read more: cointelegraph.com

Chiasso, Switzerland Municipality to Allow Citizens to Pay Taxes in Bitcoin

The Swiss municipality of Chiasso has announced that it will accept tax payments in bitcoin from January 2018 onwards. The announcement signifies a further gathering of momentum for Switzerland’s bid to become a global leader in the bitcoin and cryptocurrency industries, with Chiasso seeking to rival Zug’s Crypto Valley as a major global hub for bitcoin adoption and innovation.
Read more: bitcoin.com

Central Banks Love Blockchain And What That Means For Investors And Bitcoin Speculators

Governments are uncertain about Bitcoin as a currency, but Central Banks have made it clear that blockchain technology is a huge opportunity. The empirical truth is that Central Banks love blockchain.
Read more: seekingalpha.com

The EU Has Now Invested Over €5 Million in Blockchain Startups

The European Union has invested more than €5 million (around $6 million) in startups that are working on various projects involving blockchain.
Read more: coindesk.com


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