Some Small Movement in Regulatory Challenges This Week

Some Small Movement in Regulatory Challenges This Week

Theo Chino, a bitcoin advocate who has been fighting regulations in the U.S. for over two years, requested the withdrawal of the proposed “Uniform Regulation of Virtual Currency Businesses Act.” Only July 7, 2017, Chino asked the Uniform Law Commission (ULC) to withdraw the proposed regulation on cryptocurrencies in the United States. The bitcoin advocate submitted a letter to the ULC asking to abandon the proposed statute. Chino argued that many of the states have “significant disagreements and approaches as to how to classify or regulate bitcoin.” In addition, there is a high level of....


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World Bank forum weighs pros, cons of virtual currencies

A roundtable discussion at the World Bank on Friday brought together a small group of officials for a closed-to-the-public,"frank discussion" about virtual currencies. "Virtual Currencies: The Legal and Regulatory Challenges," was organized by the Global Forum on Law, Justice and Development and was held at the World Bank's headquarters in Washington, DC. "A stocktaking roundtable will discuss legal and regulatory challenges associated to this new phenomenon. Virtual currencies are among the myriads of options for receiving payments and paying online. For example, Bit-Coin (sic) - one of....

Bitcoin Investment Trust Becomes the First Publicly Traded Bitcoin Fund

The Wall Street Journal reports that Barry Silbert's Bitcoin Investment Trust (BIT) is about to become the first publicly traded Bitcoin fund. The BIT will be an interesting option for traditional investors looking for exposure to Bitcoin who prefer not to trade Bitcoin as currency. The BIT is sponsored by Grayscale Investments, a part of Silbert's Digital Currency Group. Currently, the BIT, launched in 2013, is a private, open-ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin. It enables accredited investors, with annual incomes....

Ethereum (ETH and ETC) Price Trends (Week of November 7th)

The upward movement of Ethereum’s price can be a correction. The graph is approaching a key technical, where volatility is highly likely to increase. ETH/USD. Low volatility, together with a decline in volume, indicates the fact that Ethereum’s price is currently in an area which isn’t really profitable for both bulls and bears. With regards to the movement of the past two weeks, the ETHUSD price is still too low to sell and too high to buy for short-term traders. However, the full-scale rebound towards the $14.5 - $9.5 downward trend is not over yet. In order to form....

Last Week's Poll: Bitcoin Exchanges and Regulatory Oversight

Last week's poll looked into a topic that has had the bitcoin community pulling in either direction. The question we asked: Do you think bitcoin exchanges require regulatory oversight? In total, the poll received 157 votes (which is better than the week prior, but we'd love to get more participation in the coming weeks). When all was said and done, 92 of the 157 voters (or about 58.6 percent) of respondents say that they think bitcoin exchanges should not be overseen by regulatory agencies. As you can imagine, the other 41.4 percent (or 65 respondents) said that they do think that bitcoin....

Bitcoin Price Analysis (Week of March 20th)

The plateaued movement of Bitcoin’s price can’t keep up for long. What outcome is to be expected for BTC/USD this week, and how should one go about catching the trend? The BTC/USD price has been staying between the two weekly resistance lines for the past week. This indicates an almost even distribution of power between the Bears and Bulls. However, at the end of the week, the sellers had the advantage. The buyers didn’t even have enough strength to break through the level of $422.

Quotes

There are more people in the world who need a currency they can trust than there are people in the world who can trust their currency.

Wences Cesares (Xapo CEO)