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Blow To Bitcoin As Top Accountants Make Serious Facebook Warning

bitcoin, bitcoin price, Facebook, libra, image

Bitcoin and cryptocurrencies have been largely ignored by the world’s regulators over the last ten years, with only some small attempts to protect investors from wild bitcoin price swings and dodgy crypto exchanges.

The bitcoin price, up some 200% so far this year, has somewhat recovered after a terrible 2018 largely due to interest in bitcoin and cryptocurrencies from some of the world’s biggest tech companies, including social media giant Facebook which unveiled its planned libra cryptocurrency project last month and is scheduled for release some time in 2020—if the sandal-hit company can convince regulators of its merits.

Now, forensic accountancy firm BTVK has warned the bitcoin and crypto “wild west” could be coming to an end, with global regulators closing in on bitcoin and cryptocurrency exchanges as a result of the spotlight brought by Facebook’s libra project.

“Laws are in development as we speak,” Alex Hodgson, senior consultant at BTVK, told the Telegraph newspaper following the release of its report into bitcoin and cryptocurrencies. “Facebook has well-publicized issues in the past, and in response to that [regulators] are going above and beyond.”

“If cryptocurrency markets were like the ‘wild west’ in their early years, that period may be coming to a close as lawmakers look to toughen up the way in which markets are policed,” the report authors wrote. “In the meantime, it would be wrong to assume that investigators are powerless in the world of virtual currencies. They have many tools, old and new, at their disposal which mean that cryptocurrency markets should not be seen as a safe hiding place.”

Facebook is still reeling from a data-sharing scandal that saw many of its most senior executives hauled before governments around the world to answer questions on Facebook’s use of data and its work with third parties, such as Cambridge Analytica.

Earlier this month, U.S. president Donald Trump sent the bitcoin and cryptocurrency industry for a loop when he tweeted his opposition to bitcoin, cryptocurrencies, and Facebook’s libra, suggesting they are all “unregulated crypto assets” that can “facilitate unlawful behavior, including drug trade and other illegal activity.”

Following his comments, other senior U.S. officials echoed his comments, while U.S. senators called Facebook’s libra plans “unacceptable.”

Elsewhere, former International Monetary Fund managing director Christine Lagarde, who is set to replace Mario Draghi as president of the European Central Bank (ECB), earlier this year warned that bitcoin and cryptocurrencies are “shaking the system”—something that could signal a change in the ECB’s approach to bitcoin and crypto.

bitcoin, bitcoin price, Facebook, libra, chart

The bitcoin price has rallied hard this year but global regulators are “closing in.”

In the U.K. bitcoin and cryptocurrencies were placed under the oversight of the country’s banking regulator in January with it expected to issue final guidance sometime over the next couple of months.

Meanwhile, a government panel in India has recommended a ban on all “cryptocurrencies created by non-sovereigns” due to “serious concern [there is a] mushrooming of cryptocurrencies almost invariably issued abroad and numerous people in India investing in these cryptocurrencies.”

The report out of India does support the possibility of a state-issued digital currency in India, however.

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I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk

Source: Blow To Bitcoin As Top Accountants Make Serious Facebook Warning

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You Can Now Buy Crypto With Visa and Mastercard via Binance App for Android – Siamak Masnavi

On Thursday (April 25), Binance announced that its mobile app for Android now lets you buy with Mastercard or Visa some of the most popular cryptocurrencies that are listed on Binance.com.

According to Binance, this support for cryptocurrency purchases via debit/credit cards, which is possible as a result of the partnership with Fintech startup Simplex that was announced on January 31, is available in version 1.5.8.0 or higher of the “Binance – Cryptocurrency Exchange” app for Android.

Since January 31, it is has been possible to buy on the main Binance website (Binance.com) Bitcoin (BTC), Bitcoin Cash (BCHABC), Ether (ETH), Litecoin (LTC), and XRP using debit/credit cards (Mastercard and Visa). Then, on March 12, it became possible to do the same on Trust Wallet (Binance’s official non-custodial wallet app). And now, the Binance app for Android joins the party by offering the same feature.

Here is what you need to do to buy crypto via debit/credit cards on the Binance app for Android:

  • Tap on the “Credit Card” button, which is the last button on the toolbar you see in the middle of the “Home” screen. This takes you to the “Buy Bitcoin” screen.

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  • On the “Buy Bitcoin” screen, you can choose from a dropdown list the cryptocurrency you want to buy (BTC, XRP, ETH, LTC, or BCHABC), specify the quantity of a particular cryptocurrency that you want to buy, and choose the fiat currency (USD or EUR) you want to pay with.

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  • You will then be shown the total amount (including the fee) that you will get charged if you go ahead with the purchase.

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  • Once you tap on the “Buy Now” button on this screen, you will be shown a “Confirm Your Order” screen.

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  • If you then tap on the “Accept, go to payment” button on the confirmation screen, you will be taken to the checkout screen on Simplex.com, where you will be asked to enter into a form your personal details (email, phone number, date of birth) and your card details.

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Source: CryptoGlobe

Twitter CEO believes internet will have its native currency, possibly Bitcoin

In an interview with Joe Rogan, Twitter’s CEO, Jack Dorsey answers the question on whether or not he will create his own cryptocurrency. He said that he has no plans for that at the moment, however, he expressed his personal view towards cryptocurrency and the internet. Dorsey believes that the internet will have its native currency one day, although he doesn’t know what that would be………

Source: Twitter CEO believes internet will have its native currency, possibly Bitcoin

Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019

Crypto entrepreneur and regular contributor to CNBC, Brian Kelly, claimed that there is no chance for a Bitcoin (BTC) exchange-traded fund (ETF) approval in 2019. Kelly made his remarks in an interview with Cointelegraph at the Crypto Finance Conference, Switzerland, Jan. 18. Discussing the overall state of the cryptocurrency market, Kelly predicted that 2019 will turn out better than 2018. The analyst argued that “we are somewhere close to the end of [the bear market]………

Source: Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019

Bitcoin Price Approaching $4,100, but Don’t Get Excited Yet, Analyst Warns

The new year has kicked off on the right foot for Bitcoin investors. The currency has continued with its rally, gaining $375 since the year turned. In the past 24 hours, the currency has gained 6.5 percent, finally hitting the $4,000 level again. The last time Bitcoin hit this level was December 25, after which it went down all the way to $3,650. The fightback is certainly noteworthy, but according to some analysts, it’s not yet time to pop the champagne.

Source: Bitcoin Price Approaching $4,100, but Don’t Get Excited Yet, Analyst Warns – NullTX

Chinese Analysts Say Bitcoin Bear Market Likely to Continue In 2019

Chinese analysts expect the current bitcoin bear market to continue in 2019, contradicting the bullish projections of crypto bulls like Mike Novogratz, who predicts that the bitcoin price will hit record highs this year. “In 2018, bitcoin became an investment black hole,” according to the state-run Beijing News. “Entering 2019, bitcoin prices are still showing signs of decline, and there is no obvious rebound……

For bitcoin’s trend in the new year, pessimism is more dominant.

Source: Chinese Analysts Say Bitcoin Bear Market Likely to Continue In 2019

Bitcoin Can’t Seem to Stay Above $4,000. Will This Change in 2019? – NullTX

Every time it has been dealt a blow, Bitcoin has bounced back. However, the blows have continuously driven the expectations lower. As the year began, many believed that the currency couldn’t go below $10,000. Then it breached this resistance level and the expectations were forced to be lowered. Then came $8,000 and the narrative was similar. In came $6,500 and even the Bitcoin bull Mike Novogratz said this was the bottom. He was wrong, and the market has since then halved and currently stands at $3,950……

Source: Bitcoin Can’t Seem to Stay Above $4,000. Will This Change in 2019? – NullTX

Bitcoin Hashpower Difficulty Continues To Drop Amid New 2018 Price Lows – Colin Muller

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Along with the sliding price of bitcoin – currently in the process of achieving new lows for the year near $5,000 – both the hashpower and mining difficulty on the Bitcoin network seem to have peaked. Both are now falling at rates which have become unusual for Bitcoin in 2018, even as prices have continued to shake out the rest of the market. Looking at bitinfocharts’ yearly hashrate chart tells a story of a broad and powerful uptrend stopped in its tracks………

Read more: https://www.cryptoglobe.com/latest/2018/11/bitcoin-hashpower-difficulty-continues-to-drop-amid-new-2018-price-lows/

 

 

 

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