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Japan STO Association Releases New Regulatory Guidelines
The Japan Security Token Offering Association (JSTOA) has just released self-regulatory guidelines on how to separate customer assets and electronic record transfer rights. Available on the JSTOA website on April 20, the association attributes the guidelines to the revisions of the country’s Financial Instruments and Exchange Act (FIEA), passed by the Japanese House of Representatives and set to be enforced starting May 1. At a meeting including employees and the Board of Directors, the association laid out the rules for electronic record transfer rights and management of customer assets, among others. The JSTOA will check the management of separately held customer assets once a month with certified public accountants and audits. Moreover, as part of their prevention against investment solicitation, the association is calling for a clearer definition of selling digital assets to elderly customers — those at risk for fraud — and to make the efforts to establish guidelines for solicitation. Crypto regulatory enforcement coming soon New laws for regulating cryptocurrencies in Japan are beginning to be enforced. The FIEA and Payment Services Act, both revisions to existing financial…
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Alphabet (GOOGL) Stock Rose 1% Yesterday, Fell 3% in Pre-market
Alphabet (GOOGL) stock price has been topsy-turvy. This, however, doesn’t change the company’s profit outlook as investors expect increased demand due to the COVID-19 situation. Alphabet Inc (NASDAQ: GOOGL) stock prices have been volatile in recent times. Sources say that the technology giant’s stock has had a rough time. This has been mostly due to the COVID-19 situation. This hasn’t slowed the demand for Google’s products. Google which is Alphabet’s child company, has seen an increase in the demand for its products across, the board. Google has experienced a huge rise in the demand for its cloud services. This is in response to a shift in business trends due to COVID-19. Other technology giants have had a similar price movement as well. Amazon.com Inc (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT) and Alibaba Group (NYSE: BABA) have also been competitors in this industry. More organizations are seeking to maintain their competitive edge. They have decided to use remote working tools to continue business activities. Lockdown restrictions remain in place. Many analysts at this time have chosen other competitors as choice stock ahead…
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S&P 500 Surge Is a Bear Market Rally Doomed to Collapse: Analyst
Market researcher James Bianco warns the market rally will fall apart. Stocks will crash as life won’t be getting back to normal when the economy reopens. Economic recovery will be long and painful. Bianco Research President James Bianco believes the stock surge won’t last despite the Fed’s aggressive policies to help the economy. He warns the market’s huge April run is a bear market rally that will collapse. The Stock Market Will Crash Again Bianco thinks investors are too bullish. He’s probably right. The market researcher told CNBC’s “Trading Nation” on Wednesday: I understand the market has been up a lot since the March low. But what I see in the market is a retracement rally that looks very similar to the first type of rallies that you get in protracted bear markets. Bianco warned in March that the coronavirus crisis would be worse than the financial crisis. In early March, when the market was crashing, he put all his money into cash. But after hitting bottom on March 23, the stock market started to rebound. The S&P 500 and…
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The Coronavirus Recession |
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte The National Bureau of Economic Research defines a recession as “a significant decline in economic activity spread across the economy, lasting more than a few months.” So, are we in a coronavirus recession? Know more about Russia than your friends: Get our free ebook on how the Soviet Union became Putin’s Russia. Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Q4 2019 hedge fund letters, conferences and more Are We Headed Towards A “Coronavirus Recession” If we’re not, then we surely will be by next month. It will most likely be labeled the Coronavirus Recession, or perhaps the CONVIR-19 Recession. In just the last couple of days we seen the cancelation of major sporting events, the closure of museums and large theaters and other major gathering places, the shutdown of college campuses, a travel ban on most European tourists, and the rapid decline of air travel. Soon, elementary school closures across the nation will not just put hundreds…
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Crypto Scams on the Rise and Can Still Affect Bitcoin’s Price
Bolstered by the new coronavirus pandemic, scams continue to be rampant in the cryptocurrency world. From malware to fake investment programs and even fake donations to health organizations, scammers are known for taking advantage of desperate times and desperate people. One of the most prominent scams in the industry, PlusToken, has come under the spotlight again after rumours emerged that the March crash was caused by its operators selling their stolen Bitcoin (BTC). According to research by Chainalysis, a blockchain analysis company, PlusToken did not cause the “Black Thursday” sell-off of March 12. In a recent webinar, Chainalysis sought to bring clarity to the impact of the COVID-19 pandemic on cryptocurrency markets by analyzing key points in on-chain data such as exchange inflow and more. During the presentation, Philip Gradwell, the chief economist at Chainalysis, addressed a somewhat common opinion that the crypto market crash that happened March 12 to March 13 was caused by PlusToken liquidating the Bitcoin acquired through its Ponzi scheme, which came to around $2.9 billion, according to Chainalysis. In the webinar, Gradwell stated: “We can…
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Why This EEA Development Could be the Key to Corporate Ethereum Adoption
The Enterprise Ethereum Alliance Mainnet Working Group has just announced the creation of a new task force. EMINENT will work on developing standards aimed at facilitating business integration with the Ethereum mainnet. The group will see ChainLink, Unibright, Anyblock Analytics, and other startups work together. They will explore how businesses can use the Ethereum public blockchain in a safe and effective way. EMINENT Working to Reduce Barriers to Corporate Ethereum Adoption According to a post on the Enterprise Ethereum Alliance’s (EEA) website, the EEA’s Mainnet Working Group formed the new task force. The working group itself is an initiative by the EEA and Ethereum Foundation. It is under the leadership of Consensys, EY, and Microsoft. Called EMINENT (Ethereum Mainnet Intergration for Enterprises), the latest task force will focus on integrating corporate systems of record with the Ethereum public blockchain. Press release @EntEthAlliance:EEA Mainnet Working Group forms Task Force “EMINENT” (#Ethereum Mainnet Integration for Enterprises)https://t.co/xc4mVXEQO5 — ethereum.network (@EthereumNetw) January 27, 2020 Although NewsBTC has reported several times before on corporate adoption of blockchain technology, it is usually within a private network….
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Ethereum Continues to Range at the Bottom as It Faces Price Rejection at $195
Nov 11, 2019 at 12:21 // News Yesterday, ETH moved up to $192 but pulled back. At other times, the price will reach the $195 resistance level and retrace back to the $180 support level. This has been the scenario in October. Ethereum is facing price rejection at a higher price level because of a lack of buying power. Nevertheless, if the $180 support level is breached, ETH will drop to the $160 support level. The 160 support level is the critical support level that had been holding since April. When price rebounds at the critical support level, Ethereum will resume its range-bound movement for a few more days. Ethereum Indicator Analysis In the last three months, the horizontal channel is yet to be broken as the coin continues to trade within it. The first attempt was in September, when the coin made a false breakout. In September, the price broke the resistance level but was resisted at $220. The price dropped to a low of $160 and rebounded. There are more sellers than buyers at the upper price levels…
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Horizen accuses cryptocurrency exchange Bitfare of fraud |
ZEN token developer Horizen has urged the users of the Wellington-based cryptocurrency exchange Bitfare to be wary of possible misconduct, according to its official website. Founded in 2019, Bitfare Exchange carved out a niche for itself by offering a myriad of cryptocurrency trading options, investment opportunities, and an extremely user-friendly trading platform for both beginners and professionals. Some of the notable cryptocurrencies against which the exchange offers trading pairs are Bitcoin, Bitcoin SV, Ether, Tether, USD Coin, and Tron. While on a listing spree, the exchange added support for Zen in December, a crypto that’s been attracting a lot of attention with its exclusive focus on privacy. It offered four trading pairs with for the Horizen blockchain-based token. Like any cryptocurrency creator, who would be overwhelmed by the news of securing a listing, Horizen also publicized the listing on its official website. Unfortunately, though, the happiness was short-lived. Horizen issues scam alert against cryptocurrency exchange Bitfare Horizen claims that as soon as the exchange added support for the coin, many of its users complained of wrongdoings. According to the announcement,…
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No More Bitcoin for Nordea Bank Employees, Experts Question the Motive
An act of paternalism or a case of generic Bitcoin (BTC) distrust? It is hard to make out the exact reasons for Nordea Bank’s ban on its 31,500 employees trading in Bitcoin or other cryptocurrencies — even on their own time — a prohibition that was upheld on Dec. 2 by a Danish court. In a press release posted by the court following its ruling, Nordea Bank noted that, “Employees are permitted to keep any existing [crypto] holdings,” though it added that they were encouraged to sell them. As reported by Cointelegraph, Denmark’s finance industry union, Finansforbundet, brought a class-action lawsuit against Nordea’s cryptocurrency prohibition in 2018 on the grounds that the ban interfered with employees’ personal lives. It appears that the bank, the largest financial group in the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden), was worried that its employees might unwittingly get mixed up with some unethical or even criminal activities. As a spokesperson for Nordea Bank told Cointelegraph after the Copenhagen labor court’s decision: “The market for crypto-currencies is unregulated and not transparent. It makes it…
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How an Ethereum Offshoot Became a Top 10 Cryptocurrency After an Abrupt 35% Rally
The top ten cryptocurrencies by market cap represent the crème de la crème of the cryptocurrency space, and the altcoins listed alongside Bitcoin and Ethereum there are often considered some of the best and safest investments in the space. However, one Ethereum offshoot just exploded into the top ten cryptocurrencies by market cap after a sudden, 35% rally, shaking up the crypto market and causing analysts to scratch their heads as to why the sudden surge. Ethereum Classic Enters the Top Ten Cryptocurrencies In Surprise Rally Visit CoinMarketCap and look at the historical snapshots of the top ten cryptocurrencies by market cap throughout the years and months of the past, and you’ll see many altcoins popping in and out of that list that you may not recognize. Related Reading | Ready for Liftoff: Altcoin Market Cap Breaks Out of Downtrend While the list has been regularly dominated by Ripple, Ethereum, and Litecoin, the rest of the top ten regularly fluctuates, depending on which coin is currently experiencing a lot of hype. But in the latest case of a new crypto…
