Bitcoin Rises as Biggest Asset Manager Studies Crypto Technology

Bitcoin headed for its largest increase in two weeks on Monday, as BlackRock Inc. became the latest big name to signal an interest in the technology underpinning digital currencies.The biggest crypto-coin advanced 5.5 percent to $6,525 as of 6:51 a.m. in New York, according to composite prices on Bloomberg. Rival coins Ripple, Ethereum and Litecoin all climbed at least 5 percent. Bitcoin hasn’t notched a one-day gain of more than 2 percent since July 2.

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Bitcoin and cryptocurrency is ‘the next natural step for the global economy’, Imperial academics claim

Cryptocurrencies are the “next natural step” for the global economy, academics from Imperial College London have claimed in a new report that suggests people could be paying for their weekly shop in Bitcoin within a decade.The study, commissioned by cryptocurrency exchange eToro, presents research from Professor William Knottenbelt and Dr Zeynup Gurguc, who claim that digital coins like Bitcoin or Ethereum have already passed one of the three fundamental tests to become a bona fide currency: acting as a store of value. They suggest that it is possible that digital coins like Bitcoin could soon fulfil the two remaining roles necessary to become a legitimate currency,  such as becoming a medium of exchange by making it easy for people to exchange goods and services and also prove it can be used as a unit of account, acting as a measure of value in the economic system. 

‘Slo-Mo Credit Crunch’ Has Already Taken Hold, Bond Guru Says

Stock market selloffs, volatility blow-ups, collapsing crypto currencies. They’re all the symptoms of an unfolding global credit squeeze, according to famed HSBC Holdings Plc bond guru Steven Major. It just happens to be developing at a snail’s pace.Major and his team see what they call a “long list” of selloffs in risk market across the world as evidence of the disruption wrought by tighter dollar liquidity. In response they’ve slashed their forecast for bund yields, turned more bearish on credit and become even more cautious on emerging-market debt.“Market participants are typically looking for validation of a forecast from cyclical data or one-off events but the reality can be different,” the bank’s global head of fixed-income research wrote in a note on Wednesday. “We appear to be in the midst of a slow-motion credit crunch.”

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Maltese Parliament Passes Laws That Set Regulatory Framework For Blockchain, Cryptocurrency And DLT

Maltese Parliament has officially passed 3 bills into law, establishing the first regulatory framework for blockchain, cryptocurrency and DLT (Distributed Ledger Technology). This makes Malta the first country in the world to provide an official set of regulations for operators in the blockchain, cryptocurrency and DLT space.“I think that blockchain technology, DLT and cryptocurrency is where innovation is happening right now and we are very glad that Malta can offer the first jurisdiction in the world to regulate this sector. We are excited about what this will lead to in the future,” Joseph Muscat, Malta’s Prime Minister, told me.Just last week, the Maltese Parliament voted unanimously to approve 3 cryptocurrency and blockchain bills, which were designed to make Malta one of the most desirable locations to set up shop in the blockchain space. As these bills have now been passed into laws, Malta is sure to become an early pioneer in economic innovation. In turn, this will strengthen the country’s economy with the creation of a new economic niche.

CipherTrace Takes Aim at Cryptocurrency Money Laundering

Fraudsters are increasingly using cryptocurrency in money laundering activities around the world. In an effort to help combat that activity, cyber-security startup CipherTrace announced its Cryptocurrency Anti-Money Laundering (AML) Compliance Solution on July 3.CipherTrace is led by CEO Dave Jevans, who is well-known in the cyber-security industry as the chair of the Anti-Phishing Working Group (APWG) and was formerly the founder of USB hardware security vendor Ironkey, which was acquired by Imation in 2011. With CipherTrace, Jevans has built a platform that makes use of advanced analytics and fraud detection techniques to help financial institutions and cryptocurrency exchanges combat money laundering.”We have seen a dramatic increase in cryptocurrency money laundering in 2018 so far,” Jevans said. “We’ve already tripled 2017, and we’re only halfway through the year.”

Bitcoin ATMs: Why do Detroit gas stations, party stores have them?

ETROIT — Walk into the Shell gas station on the corner of Nine Mile and Greenfield roads in Oak Park, Michigan, head toward the back of store, and there, next to the Better Made potato chips selling for $1, sits an ATM selling bitcoin.“The fastest and most secure way to turn your bitcoin to cash and your cash into bitcoin,” reads the screen for the Slon BTM. Nothing is all that secure about bitcoin, a cryptocurrency that had one incredible boom in 2017 and what’s looking like one lingering bust in 2018. Bitcoin’s price traded as high as nearly $20,000 in late 2017 — up from just $1,000 in early that year. But it’s down nearly 70 percent in the past six months. Bitcoin’s price was around $7,700 in trading June 5. And it was down to around $6,154 by June 22.

The Bitcoin Price Leapt Twice In Four Days — These Are The Things Pushing It Up

The bitcoin price has leapt twice in the last four days, taking it up more than 10 percent at one point to just over $6,600 after the price wallowed under $6,000 for most of last week.While some on forums Bitcoin Talk and Reddit’s r/Bitcoin are celebrating a return to a bull market, others are more sceptical — and expect the bears to come out again soon after months of sinking prices for bitcoin and other cryptocurrencies.Here are a few things that are potentially moving the price, and why it might not mean the bitcoin price holds above the psychological $6,000 mark for long.