bitcoin Bitcoin Regulation Cryptocurrency News Federal Reserve Bank of St. Louis 

St. Louis Fed Chief James Bullard Agrees Crypto Is Disrupting Economy

Central bankers have a lot to say about bitcoin. Federal Reserve Bank of St. Louis President and CEO James Bullard acknowledges that cryptocurrencies are a disruptive force to the economy. Like his boss, Fed Chairman Jerome Powell, Bullard also appears to worry that cryptocurrencies are a menace to the financial system for a couple of reasons. He believes that crypto paves the way for crime, and he is focused on the fact that bitcoin is accompanied by high volatility. Bullard stated: “Cryptocurrencies may unwittingly be pushing in the wrong direction…

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bitcoin Bitcoin Price News Bitcoin Regulation Cryptocurrency News Libra Steven Mnuchin 

Mnuchin Warns Bitcoin Users of ‘Very, Very Strong’ Regulations

US Treasury Secretary Steven Mnuchin again turned his attention to bitcoin this week, warning that the Trump administration would pursue “very, very strong” enforcement of existing financial regulations to stop bad actors from using the cryptocurrency to bankroll criminal activities. Treasury secretary: crypto could become a financial system risk Mnuchin elaborated on the White House’s crypto stance during a Thursday morning interview with CNBC, warning that bitcoin could become a “risk to the financial system” if it becomes the equivalent of a Swiss bank account. “We’re going to make sure…

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bitcoin Bitcoin Price News Bitcoin Regulation Cryptocurrency News Libra tom lee 

Bitcoin Still ‘Wildly Bullish’ Despite Sharp Recent Retreat, Experts Say

Despite the recent fall of Bitcoin, experts have not yet abandoned their bullish sentiment. In fact, it seems that current events have only served to reinforce this perception. While it is true that bitcoin experienced a sharp drop, breaking essential supports for swing and day traders, in a long term vision it is possible that this is only an exception or even a shadow in long-term candles, which could serve to provide further stability to trends. Tom Lee Remains as The Eternal Bullish Expert of the Crypto-verse One of the…

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Bitcoin Regulation Cryptocurrency News sec 

SEC Launches Search for Blockchain Data Service to Help ‘Monitor Risk’

The U.S. SEC has taken some steps to provide clarity to blockchain companies, but it’s widely believed that the agency has not been active enough with respect to providing regulation. Now the securities regulator is apparently interested in engaging an “enterprise-wide data subscription for blockchain ledger data.”  According to the notice on FedBizOpps.gov: “The United States Securities and Exchange Commission…intends to procure a commercially available off-the-shelf (COTS) enterprise-wide data subscription for blockchain ledger data to support its efforts to monitor risk, improve compliance, and inform Commission policy with respect to…

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Bitcoin Regulation Cryptocurrency News IMF 

IMF Says Central Bank-Backed Crypto ‘Could Become Reality’

In its latest report entitled “Five Facts on Fintech,” the International Monetary Fund (IMF) said that based on its research, countries generally foresee the emergence of crypto assets backed by central banks. The study, which surveyed central banks, finance ministries, and other government agencies in 189 countries, explicitly stated that central bank-backed crypto assets are likely to emerge due to lowering costs and increasing efficiency. The IMF | Source: Shutterstock Could it threaten bitcoin and the rest of the crypto market? The IMF cited “countering competition from cryptocurrencies” as one…

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Bitcoin Regulation Cryptocurrency News Steve Mnuchin 

Treasury Secretary Won’t Let Crypto Become Next Swiss Bank Accounts

By CCN Markets: U.S. Treasury Secretary Steven Mnuchin said that the G7’s Financial Action Task Force (FATF) organization will never let crypto assets “become the equivalent of secret numbered accounts.” Mnuchin was addressing a plenary session of the G7 initiative aimed at combating money laundering and terrorism financing. The U.S. Treasury Secretary was referring to secretive bank accounts commonly offered in Switzerland as well as other offshore financial hubs where the identity of the account holder is kept secret and a client is only identified by a code word. Mnuchin…

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Australia bitcoin Bitcoin Regulation Craig Wright Cryptocurrency News 

It’s ‘Difficult’ to Imagine Mass Adoption of Bitcoin

By CCN Markets: After ten years, the Reserve Bank of Australia has decided that Bitcoin and other cryptocurrencies don’t pose a threat to Aussie dollars or other forms of fiat payment. The RBA concludes, after reviewing everything it knows about cryptocurrency, that it’s “difficult to envisage” an outbreak of Bitcoin users in the down under. Bitcoin Carries The Burden of Disruption It’s on cryptocurrency to be more attractive and useful than traditional payment methods. People will prefer the easier, more familiar world of debt-based currency until this is the case….

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CCN is Shutting Down after Google’s June 2019 Core Update

Dear readers, Let’s get straight to it. Google’s June 2019 Core Update rolled out on June 3th 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight. Our traffic has experienced a massive impact by Google’s June 2019 Core Update. Image from Sistrix.com.   CCN’s visibility index on Sistrix.com shows how our site was affected by Google’s Core Update. As data from SEO analyzer Sistrix shows, our visibility on Google dropped from 1.2 to less than 0.6. You might say we ought not to face any…

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bitcoin Bitcoin Regulation Crypto Reserve Bank of India 

India’s Insane Anti-Bitcoin Bill Proposes 10-Yr Prison Sentence for Adopters

By CCN: Lawmakers in India have proposed a bill which would see Bitcoin and crypto ownership made completely illegal, with as much as a 10-year prison sentence for anyone caught holding. This coincides directly with India’s plans to launch its own state-backed cryptocurrency – the Digital Rupee. 10 Year Jail Sentence for Bag Holders? As per the Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, anyone involved in the Bitcoin or crypto ecosystem would face criminal punishment. The bill proposes a 10-year prison sentence for persons who “mine,…

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bitcoin Bitcoin Regulation Crypto John Reed Stark Securities and Exchange Commission 

Bitcoin ‘Crypto-Casino’ is a Terrorist Playground: Ex-SEC Crime Czar

By CCN: Bitcoin is a worthless sham that’s only useful for facilitating crime, and the public must be warned about the full spectrum of the crypto-sphere’s sleaziness. That’s the opinion of attorney John Reed Stark, a cybersecurity expert who worked for 20 years at the SEC’s enforcement division. In a damning Law 360 column, Stark says the Securities and Exchange Commission will soon crack down on initial exchange offerings (IEO), which he called an “unregulated crypto-casino fundraising mutation.” Moreover, Stark underscored that bitcoin is a con, and he advised investors…

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