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Regulatory News Have Biggest Impact On Crypto Prices: Report

When media outlets report regulatory news such as bans on crypto (think China, Venezuela and South Korea) and treatment of initial coin offerings (ICOs) under securities laws (think U.S.), these have the greatest negative effect on valuations, according to Sept. 23 report by Bank for International Settlements (BIS) titled "Regulating cryptocurrencies: assessing market reactions." Other news that have adverse consequences on crypto prices (but not as impactful) pertain to money laundering, terrorist financing and restrictions in regulated markets. However, there are news coverage that lead to strong, positive gains. These include establishment of legal frameworks and ICOs. These findings reflect...

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Supreme Court Of India Set To Finalise Bitcoin Verdict

We are edging ever closer to a final decision being made on the status of cryptocurrencies within India. As it stands, the Reserve Bank of India (RBI) have essentially banned cryptocurrency. As a result of this, the community have led a charge for the decision to be overturned, which in turn has led to a case being brought into the Supreme Court of India. Now, the Supreme Court are set to hear a final plea from both the RBI and the Mobile Association of India (IMAI) who are leading the defence case. After this, we expect that a final decision...

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The Bank For International Settlements On Why Regulation Is Good News For Bitcoin

We always discuss Bitcoin regulation as a good thing. Generally, like many others within the community, Bitcoin regulation is seen as the next step towards adoption. Whilst many would like Bitcoin to remain as a channel for investment and as a product that can offer huge returns, many more do believe that the future for Bitcoin is within adoption and that adoption can only come through regulation. What could regulation mean? Regulation means that authorities will be able to establish rules and laws against Bitcoin, in order to allow for some government and bank level control. Whilst this does damage...

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$300M Bitcoin Ponzi Scheme: Indian Scammers Face Justice

Money attracts thieves and masterminds of what could be the largest Bitcoin Ponzi scheme in history are facing justice. Vivek Bhardwaj, a software developer and brother of Gain Bitcoin founder and CEO Amit Bhardwaj, was brought to Delhi, India on Sept. 20 to face questioning and likely criminal prosecution. One estimate puts the stolen amount at $300 million USD that affected more than 2,000 victims, although the exact figure is unknown because Indian police have been unable to gather electronic records after the suspects destroyed at least three databases. The brothers stole bitcoins (BTC) through Gain Bitcoin, a website that...

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Can Bitcoin (BTC) Fall Below $6,000 Again?

Bitcoin (BTC) has been in a steady decline since the beginning of the year. The first wave of this decline, from January to February was a very steep one. However, when Bitcoin (BTC) broke the first downtrend and entered another phase of decline, the fall was not as steep. Similarly, this second downtrend was broken in August and now Bitcoin (BTC) is struggling to break past the third downtrend resistance. As we can see on the above chart for BTC/USD, this decline has become less steep with time as the correction comes to an end. This means that finding a...

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