By pheonixdown-dee | Crypto 101 | 1 hour ago $0.45
Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article.All the article and images are taken from a news source that I like to use and an alternative to CoinTelegram called BeInCrypto .
BeInCrypto is a news website founded in August 2018 that specialises in cryptographic technology, privacy, fintech, and the Internet — among other related topics.The primary goal of the website is to inject transparency into an industry rife with disingenuous reporting, unlabelled sponsored articles, and paid news masquerading as honest journalism.You can visit their website by clicking here or join their new Telegram Trading channel by clicking here .I am also part of that group and like the content they are discussing.So let’s get started!
Bitcoin Is the Second Worst Performing Asset Over Last 24 Hours
In the last 24 hours, Bitcoin is the second worst-performing asset class, behind crude oil.It is currently down some -10.50 percent, at the time of writing.
Given Bitcoin’s drastic drop in the last 24 hours amid the oil price war, the leading cryptocurrency does not seem mature enough to be treated as a global hedge against uncertainty just yet.
To read the full article, you can click here .
Iranian Health Minister: Avoid Paper Money Due to Coronavirus
It’s currently up for debate on how long the coronavirus can survive on different surfaces, but the Iranian government is not taking any chances.Given that the situation continues to worsen, the best solution is to slow down commerce — by advising Iranian citizens not to use their own paper currency.
As of now, no appeal has been made for Iranian citizens to use ‘digital currencies’ instead.Rather, the government has left the question open to interpretation.To read the full article, click here .
France Says Bitcoin Is Money as Industry Cheers Bullish Week for Crypto
According to a report in a local news publication, the Commercial Court of Nanterre made the landmark decision at the end of last month.[Les Echos] The ruling relates to a case between French cryptocurrency exchange Paymium and UK-based alternative investments firm BitSpread.The former company loaned 1,000 BTC to BitSpread prior to the Bitcoin Cash hard fork in 2017.
Following the chain split, the two parties both claimed the Bitcoin Cash created belonged to them.
The issue forced the court to consider the legal nature of Bitcoin.After establishing that Bitcoin was a legitimate form of money, it ruled in favor of the borrower.The court reasoned that Bitcoin lending is the same as any other “consumer loan.” Therefore, ownership of the property borrowed during the loan contract transfers to the borrower.You can read the full article by clicking here .
Robinhood Suffers Persistent Outages, Reimburses Traders a Measly $15
Robinhood experienced massive outages for two days straight, which left traders unable to trade their stocks.Users are being offered just $15 for the inconvenience.Robinhood is among the most popular apps for trading stocks and is steadily expanding its presence in the cryptocurrency market.
However, the app suffered two outages recently due to “stress on infrastructure.” You can read the full story here .
Top UK Regulator Issues Warning About Cryptocurrency Exchange Kraken
Kraken has been warned by the Financial Conduct Authority (FCA) of the United Kingdom over its business dealings in the country.The regulatory agency claims they are unauthorized to operate in the United Kingdom.Kraken is one of the top exchanges and has been around since 2011.
However, the FCA has likened Kraken to “scammers” in its announcement.To read the full analysis click here .
Indian Supreme Court Says No to Central Bank’s Crypto Ban
After many months of uncertainty, Indian cryptocurrency investors can finally breathe a huge sigh of relief as the Indian Supreme Court has struck down the Reserve Bank of India’s banking ban for cryptocurrency entities in the country.Token prices of the exchange WazirX have shot up and investor sentiment has almost unanimously been positive.To read the full story click here.
Two Chinese Nationals Sanctioned in Crypto-Fueled Money Laundering Case
The U.S.Department of the Treasury has sanctioned a pair of Chinese nationals who participated in a money laundering scheme involving a cyberattack on a cryptocurrency exchange orchestrated by the infamous Lazarus Group.To read the full article, click here .
That is my weekly roundup of the interesting news coming from the crypto world.What do you think about the topics / news stories and what was your favourite article? If you liked the content, please consider following me and tipping the article.
Also are you a trader? If you are check out my favourite Telegram Trading chat , where you can discuss and find out more about crypto projects.Click here to start conversations with other crypto traders! .
