Bitcoin exchange reaches deal with Barclays for UK transactions

Thursday, 15 March 2018

One of the biggest bitcoin exchanges has struck a rare deal which will allow it to open a bank account with Britain’s Barclays, making it easier for UK customers of the exchange to buy and sell cryptocurrencies, the UK boss of the exchange said on Wednesday. Large global banks have been reluctant to do business with companies that handle bitcoin and other digital coins because of concerns they are used by criminals to launder money and that regulators will soon crack down on them. San ...

Slovenia claims world’s first blockchain monument

Tuesday, 13 March 2018

The first monument to the blockchain technology that underpins crypto-currencies took center stage on Tuesday on a roundabout in Slovenia, authorities in the country’s fourth largest city said.Weighing three tons and with a diameter of about seven meters the circular metal sculpture was unveiled next to the courthouse in Kranj, about 30 kilometers north of the capital Ljubljana.The design, featuring the ‘B’ symbol crossed by two vertical lines that represents both blockchain ...

Thomson Reuters launches bitcoin sentiment gauge for crypto traders

Monday, 12 March 2018

Thomson Reuters Corp is to track and analyze chatter about bitcoin on hundreds of news and social media websites to help investors looking for an edge in trading the world’s biggest cryptocurrency, the company said on Monday. A new version of its MarketPsych Indices, which it runs in conjunction with MarketPsych Data LLC, a behavioral economics research firm, will scan over 400 websites, many specific to cryptocurrencies, to capture market-moving sentiment and themes, Thomson ...

Japan punishes crypto exchanges after hack

Thursday, 8 March 2018

The Japanese government is slapping penalties on several crypotocurrency exchanges in the country, after 58 billion yen ($530 million) of virtual coins were lost earlier this year from hacking.The Financial Services Agency (FSA) said in a statement it had ordered FSHO and Bit Station, exchanges based in Yokohama and Nagoya, to temporarily halt their operations for a month from Thursday.The agency alleged that FSHO “does not have a proper system to monitor trading and has not given training ...

Revealed: Bitcoin consumes more electricity than several Mideast countries

Sunday, 4 March 2018

The electricity consumption of the Bitcoin cryptocurrency is bigger than that of Syria, Jordan, Yemen, Oman and Bahrain, a report has revealed.The Bitcoin Energy Consumption Index (BECI) maintained by Digiconomist, found that every individual Bitcoin transaction eats up 275 kWh of electricity, and the latest estimate of Bitcoin's total annual energy consumption is in the vicinity of 29.05 TWh.That is the equivalent of 0.13% of the entire world's annual energy consumption, according to the Big ...

Bitcoin nearly doubles in value from year’s low hit in early February

Wednesday, 21 February 2018

Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its recovery continued after South Korea’s financial regulator eased its stance on cryptocurrencies, weeks after it considered shutting down digital currency exchanges. Analysts cited South Korean news agency Yonhap, which reported Choe Heung-sik, governor of the Financial Supervisory Service, as saying that the government will support cryptocurrency trading if “normal ...

Malaysian firm adds Islamic certification to cryptocurrency

Tuesday, 20 February 2018

Malaysia-based firm HelloGold has received a sharia-compliant certification for its gold-backed cryptocurrency and plans to launch its online gold platform in Thailand later this year, the company said. Its cryptocurrency product, dubbed GOLDX, was launched at the end of last year and has now received certification from Amanie Advisors, a Malaysia-based Islamic finance consultancy, said chief marketing officer Manuel Ho. Unlike other cryptocurrencies, GOLDX involves the issuance of a token ...

Police on the hunt for bitcoin users in Bangladesh

Tuesday, 20 February 2018

Officials of the central bank have warned all other commercial banks in the country to be wary of bitcoin users.The trading of the popular virtual cryptocurrency is illegal in Bangladesh, but the trading and usage of this currency is still rampant – a fact that has riled Bangladesh Bank.Officials of the central bank have warned all other commercial banks in the country to be wary of bitcoin users. The Foreign Exchange Police Department and some other departments are being considered to be ...

Successful investment gurus are made not born

Monday, 19 February 2018

In many coffee shops in the Gulf, discussion soon turns to how friends, lowly or otherwise, made millions in their investments, and to bragging about one’s own imaginary prowess in this field. The truth is often less glamorous with more stories of woes than riches. While there are very few globally recognized successful investors such as Warren Buffet, there are many smaller successful individual investors. What are the common factors that these smaller investors have in common and the ...

Dr. Mohamed A. Ramady

Dubai trader gets first cryptocurrency license in the Middle East

Tuesday, 13 February 2018

A precious metal trading company, Regal RA DMCC, has become the first to attain a license to trade in cryptocurrencies in the Middle East, according to the Dubai Multi Commodities Centre.The company said in a statement that they will offer storage for bitcoin, Ethereum and other cryptocurrencies in a vault in their headquarters in Dubai, Bloomberg reported.“We have developed what we believe is the number one most secure way of investing in Bitcoin, Ethereum and other ...

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