Crypto Currency News You Can’t Miss

If you want to stay up-to-date on all the latest crypto currency news, then this is the blog for you. We’ll make sure you never miss a beat on what’s going on in the world of digital currency.

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Bitcoin on the Rise

Bitcoin is on the rise again after a few months of relative stability in the cryptocurrency markets. The world’s largest digital currency by market capitalisation has surged more than 10% in the last 24 hours, and is now trading at around $11,500.

This latest price rally comes after a sharp sell-off in Bitcoin and other digital currencies in March, which was sparked by concerns over tighter regulation in key markets such as China and South Korea. However, it appears that those fears have now abated, at least for the time being.

Bitcoin isn’t the only cryptocurrency on the up at the moment. Ethereum, the second largest digital currency by market cap, is also up around 10% over the last 24 hours. Ripple, the third largest cryptocurrency, is up 5%.

One of the key drivers of this latest price rally appears to be increasing demand from institutional investors. The Chicago Mercantile Exchange (CME) launched Bitcoin futures trading back in December, and investment firm BlackRock is reportedly considering launching a range of cryptocurrency-related products.

With more institutional money starting to flow into the cryptocurrency markets, it’s likely that we’ll see further price increases in Bitcoin and other digital currencies in the months ahead.

New Regulations in the US

In the United States, regulation of cryptocurrencies has been a mixed bag. The SEC has taken action against several ICOs, declaring some to be outright frauds while others have been allowed to move forward after making adjustments to their business model. The CFTC has also taken action against ICOs and exchanges, but their focus has been on those who have been violating existing commodities regulations rather than creating new regulations specifically for cryptocurrencies.

The IRS has been the most active regulator in the space, issuing guidance on how cryptocurrencies will be taxed and recently filing charges against several individuals and companies for tax evasion and money laundering.

At the state level, there have been a few notable developments. New York’s BitLicense, which was first proposed in 2014, finally went into effect in 2015 and has since been used to shut down several cryptocurrency businesses that were unable to comply with its stringent requirements. In 2018, Wyoming passed a number of laws that are friendly to cryptocurrencies and blockchain businesses, including exempting crypto assets from property taxes and recognizing digital signatures as legal documents.

China’s Stance on Crypto

Cryptocurrencies are not legal tender in China and are not backed by the government. The country has however, been increasingly receptive to blockchain technology. In May, China’s President Xi Jinping endorsed blockchain as a “breakthrough” technology.

China has been cracking down on cryptocurrency trading since September 2017, when it first banned initial coin offerings (ICOs), a type of crowdfunding using cryptocurrencies, and then shuttered cryptocurrency exchanges. The country’s central bank also began inspecting major cryptocurrency exchanges in January 2018.

Despite the crackdown, a 2019 survey conducted by Circle Research found that eight percent of Chinese investors have purchased cryptocurrencies. The survey also found that 34 percent of respondents were interested in buying cryptocurrencies in the future.

One reason for the continued interest in cryptocurrencies in China may be the fact that they offer an alternative to investing in the volatile Chinese stock market. Cryptocurrencies may also be attractive to Chinese investors because they provide a way to circumvent strict capital controls imposed by the government.

The Chinese government’s latest move was to ban crypto mining, which it deems an “undoubtedly waste[ful] of resources.” The ban is part of a wider crackdown on cryptocurrency trading and mining that began in September 2017.

The Future of Crypto

Cryptocurrencies have been in the news a lot lately, with prices fluctuating wildly and new varieties popping up all the time. It can be tough to keep up with the latest developments, but it’s important to understand where the crypto world is headed if you want to make informed investment decisions.

Here’s a look at some of the most important trends that are shaping the future of cryptocurrency:

1. Increased regulation
Government agencies around the world are starting to pay closer attention to cryptocurrencies and how they’re being used. While this regulatory scrutiny may put some short-term constraints on the market, it could ultimately make cryptocurrencies more mainstream and increase their adoption rate.

2. The rise of stablecoins
Stablecoins are a type of cryptocurrency that is pegged to another asset, such as gold or the US dollar, in order to stabilize its price. These coins are becoming increasingly popular as a way to store value and avoid volatility.

3. Growing interest from institutional investors
Institutional investors, such as hedge funds and investment banks, have traditionally been wary of investing in cryptocurrencies due to their volatility. However, this is starting to change as more institutions begin to explore ways to enter the market.

4. Advances in blockchain technology
Blockchain is the underlying technology that powers cryptocurrencies. This distributed ledger system is constantly evolving, with new applications and uses being discovered all the time. As blockchain technology continues to mature, it could have a major impact on how we use cryptocurrencies in the future.

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