• Protestors in Hong Kong (Photo by Oscar Chan from Pexels).
    Asia & Australia,  Bitcoin

    Hong Kong’s Bitcoin spike: Foresight or fluke?

    A tremendous jump in trade volume on a small Hong Kong P2P exchange was touted as proof that Bitcoin is the new gold. But it may have just been a whale’s splash

    Bitcoin trades in Hong Kong saw a massive spike at the end of September—blowing past even the volumes seen at the height of the 2017 bubble—simultaneous to political unrest in the Chinese territory.     With nearly $12.3 million HKD (equivalent to $1.5 million in USD) traded in the week ending September 28 according to charts on peer-to-peer trading site Coin.dance’s LocalBitcoins, it was hard not to see a connection with escalating protests, anti-Chinese bank sentiment, and vandalism that recently caused ATMs to run dry, and panic-buying reported at supermarkets on October 7. It’s especially interesting considering the same Bitcoin (BTC) volume jump was seen, on a smaller scale, during the last…

  • Europe's fiat money (via Pixabay).
    Europe

    EU banks must get speed up blockchain investment, warn Lagarde, Bain

    The consulting giant and likely European Central Bank president say blockchain FinTech is coming fast

    European banks must speed up their investments in blockchain technology in order to recapture their own capital markets from American financial institutions, global consulting firm Bain & Company warned in a report released on September 3. A day later, International Monetary Fund (IMF) chief Christine Lagarde told the European Parliament’s Economic and Monetary Affairs Committee that with bank profits low and FinTech firms gobbling up investments, EU central banks must welcome new technologies—including digital currencies—in order to remain competitive.

  • This image came up when we searched "SEC" and "crypto" so we're going with it (via Shutterstock).
    United States

    SEC finally approves cryptocurrency offering, green-lighting Blockstack token offering

    The distributed web platform developer can sell up to $50 million worth of tokens to the public

    The U.S. Securities and Exchange Commission has finally given a blockchain company the O.K. to sell tokens directly to investors—sort of. The SEC on Wednesday approved blockchain startup Blockstack’s application to raise money  via a token offering, the first time it has allowed this type of fundraising in the cryptocurrency industry, according to the Wall Street Journal. The SEC has sued and fined several companies for initial coin offerings (ICO) that the agency said violated securities law. The action “is a massive step towards the much-needed clarity for the US crypto space,” according to social trading platform eToro’s senior market analyst, Mati Greenspan. “This could be considered the first regulated…

  • Christine Lagarde, when she was head of the IMF and before she became the ECB chief (via IMF.org)
    Europe,  Libra

    Christine Lagarde’s nomination to head the ECB is good news for Facebook’s Libra, says eToro’s Mati Greenspan

    The European Central Bank’s incoming leader will bring a positive outlook on digital assets

    Facebook’s new Libra stablecoin got a break in Europe last week with the announcement that Christine Lagarde has been nominated to be the new head of the European Central Bank, says eToro’s senior market analyst, Mati Greenspan.