No final Decision - India might ban Cryptocurrency and give its users Jail Time

A government panel’s recommendation is only the latest in a series of developments suggesting that India will not be a friendly place for the technology—at least private versions of it.  The news: This week, a panel the government created to study cryptocurrency released its report, which expressed “serious concern” over the “mushrooming of cryptocurrencies almost invariably issued abroad and numerous people in India investing in...

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Fundstrat’s Tom Lee: Bitcoin Is Easily Going to Reach New Highs

Fundstrat Global Advisors co-founder Tom Lee said that bitcoin (BTC) could easily reach new highs during an interview with CNBC published on June 18. In his comments, Lee said that bitcoin is becoming the reserve currency of the cryptocurrency space, and noted that it has been worth over the $9,000 price level in only 4% of its history. Then, he declared: “I think bitcoin is easily going to take out its all-time highs.” Before...

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Big banks are launching a blockchain trade platform powered by ‘Bitcoin-like’ Token

The banking industry is hell-bent on taking over the nascent blockchain and cryptocurrency market. A group of financial firms led by UBS Group AG is eyeing blockchain technology for settling cross-border trades worldwide with its own “Bitcoin-like” token. The 14 firms – including Barclays, Nasdaq, Credit Suisse Group, Banco Santander, ING, and Lloyds Banking Group – have registered a new entity to control the devleopment of the token, dubbed ‘utility settlement coin’ (or USC for short), The Wall Street Journal reports. The financial giants...

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Facebook Reportedly Launching "Project Libra" GlobalCoin Cryptocurrency in 2020

Facebook reportedly aims to release its GlobalCoin cryptocurrency in 2020 under its “Project Libra” scheme. The news follows on from information that Mark Zuckerberg had met with the Bank of England’s governor Mark Carney in April to discuss the risks involved with launching a cryptocurrency. The social media platform is aiming to test its GlobalCoin system by the end of 2019 and expects to roll out its digital payments system in approximately 12 countries worldwide by Q1 2020. Facebook has reportedly sought input from the US Treasury in regards...

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