It’s been just revealed that the largest crypto exchange Coinbase faces a lawsuit over the sale of the crypto XRP. In a lawsuit that has been filed in a federal court in San Francisco, California, plaintiff Thomas Sandoval said that Coinbase sold XRP despite knowing that it’s a security and not a commodity. The Daily Hodl cites info from Bloomberg and notes that he is seeking damages for the commissions that the exchange collected from him and other Coinbase customers. more
Jan-3-2021 01:17:30 PM
The world’s largest cryptocurrency must pass the January test before making a significant upside move. Bitcoin is set to end 2020 with more than 300% gain. The cryptocurrency is entering 2021 with bullish momentum after breaching the $29,000 price level. Despite the positive market sentiment, Bitcoin investors are worried about high volatility and an uncertain regulatory environment. The world’s largest cryptocurrency has seen consistent growth in the last 6 months without a major correction. Institutional money fueled the demand for Bitcoin, and the price jumped from $9,000 in July to $29,000 in December this year. more
Jan-2-2021 05:02:18 AM
Now, the Federal Reserve Board of Governors have partnered with some Federal Reserve Banks to develop basic policies and assess possible issues of risks. The Board has established a technology lab to test various platforms and solutions compatible with development and launch of a CBDC. The same has been done by the Federal Reserve Bank of Massachusetts which has collaborated with the Massachusetts Institute of Technology (MIT) for that purpose. The Federal Reserve Bank of New York is engaged in defining trends relevant for central banks and their digital currencies. more
Oct-3-2020 12:56:18 PM
The government of a Russian province has lifted a two-year ban on cryptocurrency mining. The ban came into effect when mining farms brought the region to the brink of an energy crisis. The Republic of Abkhazia, a province in the Russian Federation, has rebooted its crypto mining glory. According to the region’s official cabinet website, the new system will include regulation by the finance ministry and a two-month restriction on the importation of mining equipment. During this period, the Ministry of Economics plans to develop a system regulating cryptocurrency mining, including an office to collect and analyze statistics and provide licenses. Likewise, the state power authority “Chernomoenergo” will set rules as to the amount of electricity used by these businesses. more
Oct-3-2020 12:55:28 PM
The U.S. Securities and Exchange Commission (SEC) has halted trading in the securities of Vortex Blockchain Technologies. The firm has reportedly not been filing certain periodic reports with the regulator. In its statement, the watchdog revealed that it was temporarily suspending trading in the securities of the firm from September 23 to October 6. “The Commission temporarily suspended trading in the securities of the foregoing company due to a lack of current and accurate information about the company because it has not filed certain periodic reports with the Commission,” the regulator said. more
Oct-3-2020 12:53:10 PM
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