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Tag Archives: Reuters

Bitcoin extends losses, drops to lowest in more than a year

NEW YORK (Reuters) – Bitcoin fell to a more than one-year low on Wednesday, falling below a key support level of $6,000, with traders and analysts unclear on what caused the sudden drop in price. “The market had been entering a wedge, with the volatility so low,” said Charlie Hayter, …

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French lawmakers back plans to ease taxes on bitcoin gains

PARIS (Reuters) – The finance commission in France's lower house of parliament backed plans on Wednesday to ease tax on bitcoin sales, bringing it in line with other capital gains tax. Currently bitcoin gains are taxed at a rate of 36.2 percent while other forms of capital gains on other …

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Bitcoin volatility sinks to lowest in nearly two years

By Tom Wilson LONDON (Reuters) – Bitcoin has experienced one of its worst annual price performances of its short 10-year-old life but also appears to have become more stable in the process. Volatility of the original and biggest cryptocurrency has sunk to its lowest for nearly two years, with price …

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China to strengthen supervision on blockchain-related financing, investment

BEIJING (Reuters) – China's central bank said bubbles in blockchain financing are apparent, and that the government should strengthen supervision to fend off financial risks. Speculation, market manipulation and other irregularities in blockchain-related investment and financing are common in the country, the central bank said in a working paper released …

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New York regulator grants virtual license to bitcoin ATM operator

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – New York state's Department of Financial Services said on Thursday it has approved the virtual currency license of bitcoin teller machines operator Coinsource Inc. Coinsource, based in Fort Worth, Texas, operates 40 bitcoin kiosks in New York state, located in New York City …

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Birthday blues for bitcoin as investors face year-on-year loss

By Tom Wilson LONDON (Reuters) – Bitcoin was heading toward a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year's bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying. By 1300 GMT, bitcoin (BTC=BTSP) was …

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HSBC, StanChart, others launch HK blockchain trade finance platform

By Alun John HONG KONG (Reuters) – A new blockchain-based trade finance platform, developed by HSBC (L:HSBA), Standard Chartered (L:STAN) and 10 other banks, was launched in Hong Kong on Wednesday to boost efficiency in the multi-trillion-dollar funding of international trade. HSBC said on Wednesday the platform, eTrade Connect, had …

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Early bitcoin investors count winnings after volatile decade

By Gertrude Chavez-Dreyfuss and Tom Wilson NEW YORK/LONDON (Reuters) – Seven years ago, Marshall Hayner gave his grandfather one bitcoin, worth about $30. On the paper wallet he fashioned to commemorate the gift, the U.S. entrepreneur and software developer wrote: “Do not open until $100,000.” It made Hayner's grandparents laugh, …

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Coinbase valued at $8 billion in latest fundraising round

(Reuters) – Coinbase, one of the top U.S. cryptocurrency exchanges, said on Tuesday it raised another $300 million in a funding round led by Tiger Global Management, valuing the firm at more than $8 billion. San Francisco-based Coinbase was one of the top beneficiaries of the bitcoin boom last year …

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Britain says it may ban some cryptoasset consumer products

By Huw Jones LONDON (Reuters) – Britain may ban some retail financial products based on bitcoin and other cryptoassets and widen its regulatory net to capture potentially “illicit activity” that could harm consumers and markets, a government-backed taskforce reported on Tuesday. The report from the finance ministry, Bank of England …

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Blockchain startup hires away Google’s messaging tech leader

By Paresh Dave SAN FRANCISCO (Reuters) – Blockchain technology startup Ripple Labs Inc confirmed to Reuters on Friday that it hired Amir Sarhangi, who had been leading Google's rollout of a new wireless messaging system, as vice president of products. San Francisco-based Ripple, which is among the most well known …

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Temasek-backed Vertex invests in cryptocurrency exchange Binance

SINGAPORE (Reuters) – Vertex Ventures, backed by Singapore state fund Temasek (TEM.UL), has invested in Binance, one of the world's biggest cryptocurrency exchanges, as it prepares to expand operations into the city-state, the firms said on Tuesday. In a joint statement, the firms said the investment – the amount of …

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Wooing investors, Rwanda hosts first tantalum-tracking blockchain

By Clement Uwiringiyimana and Barbara Lewis KIGALI/LONDON (Reuters) – Rwanda's mining boss announced on Tuesday the world's first blockchain project to track tantalum from the pit-face to the refinery, part of a push to woo investors seeking a conflict-free source of minerals. The project is the work of Circulor, a …

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Crypto exchange Coinbase opens Dublin office as Brexit looms

By Tom Wilson LONDON (Reuters) – Cryptocurrency exchange Coinbase has opened an office in Dublin, it said on Tuesday, joining the growing ranks of banks and financial firms with major British businesses developing European Union outposts as Britain's exit from the bloc looms. San Francisco-based Coinbase, one of the biggest …

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