Bitcoin hits all time high for it's 9th birthday today - here's why!


It's a big day for Bitcoin! 

Not only is this it's 9th birthday - it also set a new all time high record, briefly going over $6400 and hovering around $6350 at the time of this article's publishing.

The reason behind the rise in price is the announcement that CME Group said it would launch bitcoin futures before the end of 2017.

CME is an American financial market company operating the world's largest options and futures exchange, and signals yet another move from Wall Street into the cryptocurrency space.

The idea of futures may be new to some in the crypto scene, NerdWallet explains it like this:

An airline company may want to hedge its bets against an unexpected increase in jet fuel prices. Its traders will therefore seek to enter into a futures contract to lock in a purchase price closer to today’s prices for jet fuel. So they may buy a futures contract agreeing to buy 1 million gallons of JP-8 fuel, taking delivery 90 days in the future, at a price of 3 dollars per gallon.

Someone else naturally wants to ensure they have a steady market for fuel. They also want to protect themselves against an unexpected decline in fuel prices, so they will gladly enter into either a futures contract.

In this example, both parties are hedgers, rather than speculators. They are turning to the futures market as a way to manage their exposure to risk, rather than make money off of the deal directly.

These contracts aren’t just bought and sold over jet fuel, but over almost any asset that’s commonly traded. 

Now, the asset will be Bitcoin.

Bitcoin also celebrated it's 9th birthday today, which is worth giving some deeper thought.  Often cryptocurrency is talked about as if it's some untested, brand new technology. It's not.

Just months younger than the first iPhone, and one year away from being a decade old, perhaps it's time for people to accept that it's here to stay. I can't think of any other piece of 9 year old tech i'd still call "new".

Today's news seems to be a sign of exactly that, as the mainstream moving into the crypto market continues.

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Author: Ross Davis
San Francisco News Desk


Former Congressman Ron Paul: Bitcoin could go down in history as destroyer of the dollar...


At 82 years old, former congressman Ron Paul may not look like your typical cryptocurrency fan.

But to those who may have heard his views on currency and the Fed during his 2008 Presidential run, it's not much of a surprise.

In fact, Paul has been warning of the risks of governments freely printing cash for decades. Lately he's been a champion for the advantages of blockchain based currencies.

In February telling Fox News "Bitcoin could go down in history as the destroyer of the US dollar".


But this past weekend issued a warning to cryptocurrency lovers - the government is coming.

Speaking with "The Street" he said “If it is a really good deal, and a good process, rest assured the government will be looking at it very carefully…it makes me very nervous.”

You can watch a full video of the interview here.

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Author: Justin Derbek
New York News Desk


Ethereum creator Vitalik Buterin's bold idea: let people change their mind on ICO's and get their money back.


Ethereum creator Vitalik Buterin along with Jason Teutsch, creator of TrueBit published a whitepaper outlining a concept they're calling "interactive coin offerings".

It's purpose is to address the most complex issue in the world of cryptocurrency: price evaluations of a new coin.

This comes towards the end of a year when countless ICO's with completely worthless tokens sucked in millions of dollars with expensive marketing campaigns hyping up their new coin, simply to collapse weeks later.

The solution they propose comes in two parts.

First - no limits can be set on the amount of money an ICO raises. While at first that doesn't sound like a way to clamp down on someone using an ICO as a money-grab, it addresses a problem with human nature.  FOMA - fear of missing out.  One of the methods ICO's use to get lots of money fast is making people feel like their new coin is going to be huge, but once they've raised $50 million - the sale is going to be over - so you better act fast!

This concept addresses another issue as well, "Whales" (large investors) buying up a huge portion of the limited supply.

Second - the boldest idea - allowing people to pull out of an ICO and get their money back. “Potential buyers may enter and exit the crowd sale based on behaviors of other buyers, and in doing so tend the valuation towards a market equilibrium.”

This second step would require the first step to be implemented, as this would mean each ICO would have a date range to buy in, or pull out, instead of a market cap.  It's during this period people can buy in, or change their mind.

Obviously, once the new currency goes live you could no longer pull out.  This would not be a way to ditch a coin that's failing and get your original investment back.

You can read Buterin and Teutsch's full whitepaper here.

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Author: Ross Davis
San Francisco News Desk


USA undercover operation ends in arrest for selling Bitcoin without a license...

Today in Michigan a man named Bradley Anthony Stetkiw was charged with operating a "money transmitting business" without a license.

All because he sold bitcoins on Localbitcoins.com, a site that allows users to sell person to person without an exchange acting as a middle man.

After undercover agents arranged to buy $55,000 in Bitcoin, Bradley found himself under arrest.  The charges specifiy he violated Title 31 of United States Code, Section 5330 which requires "Registration of money transmitting businesses". You can read the full law here. 

It's the first charge of it's kind and still unclear if it will hold up in court.

This is the second story this month where Localbitcoins.com played a role in a Bitcoin trader finding themselves in a mess, last time, someone using the site ended up getting kidnapped.

We will be following new developments in the case as they arise.
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Author: Oliver Redding
Seattle News Desk


The biggest blockchain expo & conference is coming to North America!


3000+ blockchain and cryptocurrency enthusiasts and professionals are set to gather for what's expected to be the largest event of it's kind thus far!

The Blockchain Expo will take place November 29th and 30th in Silicon Valley at the Santa Clara convention center, and features over 120 guest speakers, dozens of exhibits, and 65 educational sessions.

I spoke with one of the organizers, Mark Boyle to learn more. I pointed out that currently there seems to be 3 types of people involved in the cryptocurrency scene, and asked - what could each one gain by attending the conference?

- The Hobby Investor (someone doing this for fun, in their spare time).

Blockchain Expo has been designed to ensure that there is something for everyone. Those new to blockchain can learn more about the technology at our Blockchain Technologies conference track. They can also explore the latest blockchain, AI and IoT technologies in our free-to-attend exhibition hall, where over 300 companies will be taking part. Our line-up of industry leading speakers will be discussing the applications of blockchain in a variety of sectors, such as financial services, energy, entertainment and not-for-profit.

- The Serious Investor (years of experience with a large portfolio).

In addition to our free exhibition hall and conference tracks, our paid delegates are invited to attend Blockchain for Enterprise and Transforming Financial Services conference tracks. Here, the likes of Wells Fargo, Pfizer, Toyota and IBM will be discussing the impact that blockchain is having in their respective industries – from development and integration issues through to its potential and future applications.

- The Expert (Developers, engineers, coders).

In a Blockchain Expo first, Santa Clara will see the debut of a conference track dedicated to ICOs, Tokens and Cryptofinance. Here, delegates are invited to explore the latest blockchain based start-ups, pitching their innovations as part of our conference track dedicated to ICOs, Tokens and Cryptofinance. In addition, the likes of W3Coin, FintechWorld, Spectiv and BitAngels will be exploring how to attract investors to your ICO. Paid delegates will also have access to our networking tools, enabling you to contact speakers, exhibitors and other delegates directly to arrange meetings and interviews.

We're also proud to announce Global Crypto Press is partnering with the event and will on the ground reporting from the expo!

Full event information can be found at www.Blockchain-Expo.com
Use code GlobalCrypto20 to get 20% off tickets!

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Author: Ross Davis
San Francisco News Desk


Fake Coinbase pages on facebook and linkedin are trying to steal cryptocurrency...

Fake pages pretending to be Coinbase have been popping up recently on Facebook, and while many are harmless Coinbase users simply sharing their referral code (Coinbase rewards people $10 for referring a friend) others are much more sinister.

One of our readers, who asked to only be identified as ‘V’ took it upon himself to see what they're up to, and allowed us to share these screen shots...







While this account has been reported and terminated, there's still several active pages claiming to be Coinbase - even the page at www.facebook.com/Coinbase with 96,978 likes has an "unverified" status.


Our investigation uncovered imposters on other networks as well.  This page on LinkedIn is giving out a toll free support number, that does not belong to the real CoinBase. We tried calling and received a voicemail message for someone named "Robert". 


Just a reminder of something everyone should know already, just like with online banking, make sure you get support only from resources you find after carefully typing in the official URL.

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Author: Ross Davis
San Francisco News Desk


Apple co-founder Steve Wozniak believes in Bitcoin!

Steve Wozniak, who co-founded Apple with Steve Jobs in 1976 has come out as a passionate supporter of Bitcoin!

Speaking in Las Vegas on Sunday, Steve said he's admired blockchain technology since it was first introduced, and now - he thinks it's even better than the US dollar, and even actual gold.

"While Bitcoin has a fixed future supply the same cannot be said about government-backed fiat currencies". 

When it comes to precious metals, he says similar points apply "Gold gets mined and mined and mined," Steve said. "Maybe there's a finite amount of gold in the world, but Bitcoin is even more mathematical and regulated and nobody can change mathematics."

Wozniak is also excited about the future applications of blockchain technology, mainly how it can be applied to tracking real-world materials, "Right now, there is conflict with minerals in the world, and you don't want to buy conflict minerals. Well, how do you avoid it?  With blockchain-based solutions, however, tracking where that gold comes from is now possible." 

He also believes we're just seeing the beginning of huge things to come, adding "There is a lot more to this cryptocurrency than just the Bitcoin".
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Author: Ross Davis
San Francisco News Desk


Zonto "Social Network on Blockchain" is giving away 625 tokens upon signup right now!


Will it become something? Who knows, but it's free tokens.

"Zonto" will be the cryptocurrency of the social network, but also an Ethereum ERC20 based token that'll be tradeable on exchanges.

Click here to check it out, and grab 625 free tokens by just confirming an e-mail address!

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Author: Oliver Redding
Seattle News Desk


Sit back, relax, and sip some Ethereum Vodka (seriously).


A Russian businessman, Dmitry Troitsky has filed for 3 trademarks to use the names Bitcoin, Ethereum and Ethereum Classic as vodka brands.

"I can not say yet how it will look and when it will be released the goods with the name of the crypto currency. But I'm sure that it can be useful, that's why I submitted an application for registration" says Troitsky.

The full trademark registration process lasts about a year, and if there's no interference or legislation to stop it, we could be seeing the vodka for sale late 2018.
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Author: Justin Derbek
New York News Desk


The first Bitcoin fork is hours away - and it's a mess!


Bitcoin gold is the first of two Bitcoin forks coming up since Bitcoin Cash last August - and complications keep popping up.

On Saturday Bittrex released a statement on Bitcoin Gold (BTG), warning against it's technical limitations:

"When considering adding tokens to Bittrex exchange we look at the risks involved. Bitcoin Gold does not satisfy our criteria for safety for our users."

They even firmly called out it's developers:

"...information and codebase presented by the Bitcoin Gold team is not in a functional state and Bittrex will not commit to opening a Bitcoin Gold trading market."

Bittrex says they are however still committed to making sure their users receive their BTG, but it's never a good sign when they end their statement asking for the BTG development team to contact them, saying:

"We'd also like to encourage the BTG development team to reach out to us." 

Then there's Trezor, makers of the popular hardware based wallet.  While users will receive their BTG, it'll be useless, without the ability to trade or receive more without opening major security risks.

"Bitcoin Gold’s codebase is, at the moment of the writing, incomplete. Most importantly, it lacks replay protection. For this reason, TREZOR Wallet will not support Bitcoin Gold yet, as it would endanger your bitcoins."

With the fork just hours away, buzz on twitter and reddit seems to predict an altcoin rally, as people quickly ditch their free BTG to put it into something that may have a brighter future.

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Author: Ross Davis
San Francisco News Desk


Kidnapped for Bitcoin!

Thrown into the back of an SUV and taken to an abandon flat, to be robbed blind.  That's the situation a businessman in Delhi recently found himself in - and it's was all over bitcoin.  So how did he end up here?

It's a site called localbitcoin, think craigslist for bitcoin.  Where people who miss the personal touch from anonymous exchanges can directly talk with and negotiate cryptocurrency trades with people using their real names, in their local area.

You can choose to exchange cash for crypto using your standard online payment methods, or, meet up in person, skip the fees, and maybe build a relationship with a new trading buddy in your home town. 

That's exactly how it went down. The businessman (who is requesting to remain unnamed) was contacted through the website.  Initially by a woman who said she had a client interested in his bitcoin.

He agreed to the sell, but when he asked to be paid via paypal before transferring the bitcoin - she made a better offer.  Meet her client in person and he'll pay extra for him accepting cash.

He took the offer, and arranged to meet her at a local metro station.

There, he found what appeared to be the beginnings of a legitimate deal. A lone woman was waiting for him, he approached and introduced himself.

That's when she began looking around, making sure he was alone - and signaled her gang waiting in the shadows. 

Thrown into an SUV and taken to an empty building in Vaishali, the businessman found himself surrounded by a gang of 6 thieves, forced him to empty his wallet, and fled.

Knowing the criminals who robbed him knew his identity, it took several days for the scared victim to come forward. Thankfully, he did.

If this sounds like an elaborate well thought-out heist, you'll be surprised to hear how easy it was to track down the criminals. 

They used their personal cell phones to arrange the meetup.

A simple look at the victims call logs lead directly to the kingpin - a former real estate broker who had recently gone bankrupt, by the name of Amandeep Singh.

Amandeep then lead authorities to 5 accomplices - all 6 now await trial, charged with robbery and kidnapping.

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Author: Ross Davis
San Francisco News Desk


Litecoin is having an impressive October so far, and more surges expected!

In a time when most of the attention given to "established" cryptocurrencies goes towards Bitcoin or Ethereum, and the "hype of the day" goes to whatever ICO is promising the moon, Litecoin often goes unmentioned. But it shouldn't.

This coin really offers the best of both words - it's established, the tech is sound, and it's still at a price accessible to smaller and newer investors with room to grow.

Surging to $60 yesterday and still hovering at $59.87 at the time of this articles publishing - Litecoin has an impressive $164 million trade volume in the last 24hrs.

While like any cryprocurrency, Litecoin has had it's ups and downs, but compare to the others it's been relatively steady lately with small but consistent gains.

Something else is worth noting - Bitcoin investors are using Litecoin as a method to hedge their bet in the case of a BTC price correction. As Bitcoin climbs higher, Litecoin's stability may provide a safety net.

With many speculating hitting $70 or even $90 in the near future, if it's not part of your portfolio now, do some research and strongly consider it.

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Author: Ross Davis
San Francisco News Desk


Kazakhstan aims to launch official national cryptocurrency...



Kazakhstan is starting a cryptocurrency, one backed by their national fiat cash. 

Working with investment company Exante, in a press release today said:

"Leading financial regulators have already commenced their work and are laying the foundation for Kazakhstan's fintech-ecosystem. We believe that the AIFC can become an international hub for blockchain operations and the development of the digital assets market is our key priority in the near future."

They are already running closed tests of the technology, with no date yet announced of it's official launch.
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Author: Justin Derbek
New York News Desk


This family sold their business, home and belongings - and put it all into bitcoin!

Meet the Taihuttu's - a Dutch family of five is betting the house on bitcoin, literally.

In an update posted to their website on Oct 11th, Didi Taihuttu (the father/husband of the family) said:

"We are still in the Netherlands but we are making progress and we love the steps we are taking to a minimalist life and cryptocurrency trading.  Our house is probably sold, most of our luxury products are sold and our chalet had some updates so it’s a bit more livable with 3 kids.  It’s a big adventure and we are enjoying this ride to the fullest."

Didi's bitcoin predictions are bold - he's betting on the price tripling within 5 years. Which is a fairly common prediction...but just about as common as people saying it won't.

“At first my wife doubted the decision, wondering if it was the right decision for our kids—as did my brother and sister. But they are now supportive of the plan." Didi told Newsweek.

In the meantime, they're living the miniminalist lifestyle. Camping, and staying at their small chalet during winters.

Didi says he's holding until 2020.

You can follow their journey on their website Yolofamilytravel.com and their Instagram page.

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Author: Oliver Redding
Seattle News Desk


Brace yourself: Wall Street (and government regulators) are coming...

Cathie Wood, CEO of ARK Investment Management appeared earlier today on Bloomberg to discuss how Wall Street is in a race to offer cryptocurrency options to their fund investors.

ARK has had a great year, with their holdings up nearly 75% investing in companies Tesla, NVidia, and Amazon.  But when looking for the next round of big returns - they're eyeing cryptocurrencies.

This news comes after a mixed month of feedback from Wall Street.

With doubters like JPMorgan CEO Jamie Dimon calling bitcoin a "fraud".

Along with new believers like former Goldman Sachs partner Michael Novogratz, who's putting together a massive $500 million dollar bet that Bitcoin's value will double yet again.

Cathie Wood responded to some of Jamie Dimon's negitive remarks “Jamie is talking about store of value, I actually think this has a lot over fiat currencies” Wood says.

But be warned: where the Wall Street crowd goes, government regulators follow.

2018 is starting to look like the year when both big money, and big government will dive in head first.

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Author: Oliver Redding
Seattle News Desk


New currency "Electroneum" launches with app allowing everyone access to "mobile mining"...



But will it work?

Electroneum aims to be the most "user friendly cryptocurrency" and comes with both a wallet, and a miner built into a mobile app.

Which leads to another huge plus, instant peer to peer transactions with other users of the currency (as long as they have the app too).

So far, in while other ICO's have struggled amid a few recent flops, Electroneum seems to have managed to gain momentum.  At the time of writing this article has raised 25821 ether and 2528 bitcoin.

Now back to the "will it work?" question I started with.  Well, looking into the development team, I do feel confident in saying - this one isn't a scam. 

However "not a scam" doesn't equal "this will be a success". 

The success of Electroneum will depend on people using the app, meaning it's going to take active users, not just people throwing money at it to make it work.  Does anyone really want their phone mining all day? Hard to say when there's nothing similar to do a case study on.

That is the part you'll be rolling the dice on.

The ICO is now live here

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Author: Justin Derbek
New York News Desk


Oops! How the US Government made Julian Assange and Wikileaks bitcoin millionares...

In December of 2010 the US Government enacted a financial blockade to stop Wikileaks supporters from donating to the organization, covering a number of US financial services giants including PayPal, Visa, MasterCard, Bank of America and Western Union.

At the time, it seemed like a successful move.   So much so it sparked war between Wikileaks and PayPal, as Wikileaks supporters teamed up to launch DDOS attacks against PayPal servers in protest.

The move forced Wikileaks to look towards other methods of funding, and they turned to bitcoin for a solution.

Now however, Julian Assange seems to have more than forgiven the US Government for blockade - he's thanking them!
It's also important to note - the Bitcoin and cryptocurrency community aren't necessarily as thrilled as he is about Wikileaks move to bitcoin.

When Wikileaks first announced they were accepting bitcoin as their primary donation method, it was met with some backlash as many see organizations like Wikileaks providing motive for future government meddling in cryptocurrencies.

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Author: Ross Davis
San Francisco News Desk


He made billions on Wall Street - now he's betting $500 Million that bitcoin will break $10,000...

Meet Michael Novogratz.  He's been a partner at Goldman Sachs, and principal at investment firm Fortress.

Now, he's dead set that cryptocurrencies will be the next market with huge returns.

He's such a believer, he's starting a $500 Million dollar investment fund - of which $150 million will be his own money. For the rest he plans on convincing other high profile and wealthy investors that blockchain is about to change the world.

"Blockchain will change the way we live" he said on CNBC. "This is not going away."

In fact, he's so excited about the future of cryptocurrency, he's come out of retirement just to claim his piece of the pie.  "I never thought I'd come out of retirement but the space is so exciting right now I decided to build a business".

While he may be the biggest, most well known to jump from Wall Street to crypto, he doesn't think he'll be the last.

"I can hear the herd coming" he says, and his involvement may be the tipping point for skeptical investors to follow him along.

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Author: Ross Davis
San Francisco News Desk


JP Morgan Chase CEO Jamie Dimon is back to trash talking bitcoin...


JP Morgan Chase CEO Jamie Dimon is back at it again.

“I could care less what bitcoin trades for, how it trades, why it trades, who trades it. If you’re stupid enough to buy it, you’ll pay the price for it one day,” Dimon said today at the Institute of International Finance conference.

“The only value of bitcoin is what the other guy will pay for it” he said, keeping with his long standing stance that it's all just hype.

Unphased by the fact he's the CEO of a company that needed $18 Billion (yes you're reading that right) in handouts from taxpayers because of their mismanaged investments in the 2008 financial collapse, Jamie keeps rambling away.

He has yet to explain how his ability to predict the future failed him when it comes to his own company.

But he insists, when it comes to bitcoin, this time, Jamie knows best.

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Author: Ross Davis
San Francisco News Desk


Bitcoin hits a new all time high!

Bitcoin believers around the world are celebrating today as BTC hit a new all time high, breaking the $5300 mark.

The previous record, $5013 was set in September earlier this year.

So, why the leap? Good news abounds! After a sharp dive a couple months ago as China's government started flexing their regulatory powers people began selling off their BTC.  However, all signs currently point to China returning to the market, with some new rules for Chinese investors.

This, along with two new bitcoin forks we mentioned earlier are sending bitcoin to the moon!

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Author: Adam Lee
Asia News Desk

Breaking: Russia moves to ban cryptocurrency exchanges...

Today, Russia's first deputy director of their central bank, Sergei Shvetsov stated "the government will block cryptocurrency exchanges".

However, no date has been announced yet, giving Russian investors a chance to dump in the meantime - which may be the reason for some recent downturns.

Russia based news site "RBC" reported that Shvetsov is currently working with the special prosecutor's office to implement the cryptocurrency exchange block.

It's also worth mentioning the first time the subject came up in September we learned Russia was working on "new legislation" to cover cryptocurrencies, so perhaps this shut down is temporary until regulations are passed.

However - Russia's central bank has consistently expressed their anti-crypto stance. So there's a chance these new regulations will be so strict, Russia will be left completely out of the market.

We are following this story closely and will keep you updated on new developments.

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Author: Ross Davis
San Francisco News Desk


Bitcoin skyrockets as alt coins get left behind...

Bitcoin just broke the $4800 mark today, and usually when this happens alt-coins (at least established ones) follow closely behind. But this time they aren't. Why?

Bitcoin's hard forks.
Two new forks, Bitcoin Gold and SegWit2x are coming soon, and owning bitcoin means you automatically get these. In other words, people who would normally be buying alt coins are basically viewing these new types of bitcoins as if they are new alt coins. But instead of participating in an ICO, all you need to do is buy some BTC now, before the fork.

Stability. 
It's been a roller coaster for alt coins lately, pump and dump schemes and ICO's promising the moon and delivering nothing abound.  Sure, it's a thrill ride for those investing for fun.  But for serious investors, waking up to being 40% up or down on any given day is a stressful ride, and bitcoin's stability relitive to alt coins is becoming more and more appealing.

As 2017 comes to an end, it's safe to say we'll have an exciting few months ahead.

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Author: Justin Derbek
New York News Desk


Chinese exchanges may come back! With some new rules...

Rumors are swirling after a statement from China's official press agency Xinhua News stating:

 "Virtual currencies have become the top choices of underground economies. We shall adopt ‘0-tolerance policies’ towards crimes hidden underneath and take measures such as record-keeping, licensing, AML processes, real-name, limiting large transactions."


Without reading too much into this short statement, it does seem likely that we could see the return of Chinese exchanges soon. However, specific requirements and whether exchanges will need to go through a licensing application/approval process is yet to be seen.

We'll be watching as this story develops.

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Author: Adam Lee
Asia News Desk


Wu-Tang-Coin? Ghostface Killah is starting a cryptocurrency...


Rapper Ghostface Killah of The Wu-Tang Clan is starting a cryptocurrency.

His company, named after the album is called "CREAM Capitol" - with a slight update, now meaning "Crypto Rules Everything Around Me".

Their ICO is set for Nov 11th and aims to raise $30 million.

Ghostface Killah's role however seems to be more about drawing attention to the project.  With no experience in cyrpto, he is one of four co-founders, and will serve as "Chief Branding Officer".

More information will be announced soon on their official website.

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Author: Ross Davis
San Francisco News Desk


Dubai to launch an "Official State Cryptocurrency"


The UAE announced today that Dubai will launch an official government sanctioned cryptocurrency, called "emCash".

Dubai has gone all out on adopoting blockchain based tech, and is already working with a UK company to develop blockchain a based passport system.

There is no date set yet for it's official launch, but the government has already said all 38 of Dubai's government agencies will accept the cryptocurrency for payment.

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Author: Ross Davis
San Francisco News Desk