Bitcoin |

Cryptocurrency’s Popularity Fuels Global Tax Crackdown

LAGOS (Capital Markets in Africa) — Financial transactions involving virtual money are on the rise, and tax authorities in the U.S., EU, and Asia are stepping up efforts to grab their share of potentially billions of dollars in lost tax revenue from unreported gains. Tracking anonymous virtual currency trades remains a major challenge—especially as cryptocurrency becomes more mainstream. Central banks, global services like PayPal Holdings Inc., and financial firms like Fidelity Investments are among the…

Hottest Crypto Coin’s Massive Rally Echoes Bitcoin’s Glory Days

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The cryptocurrency boom appears to be alive and well for Binance, the world’s largest digital-asset exchange by trading volume. One of the hottest coins right now is the Malta-based exchange’s eponymous token, Binance Coin, which has more than tripled in value in the last three months to around $15. The surge comes as the broader digital-asset market is little changed in the wake of last year’s collapse that saw the prices…

Going Private, Bitcoin ETF , Price Fixing Allegations

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LAGOS (Capital Markets in Africa) – Senate Banking Committee Chairman Mike Crapo released a plan for housing-finance legislation that would end U.S. control of Fannie Mae and Freddie Mac, the latest sign that Congress will try again to complete the last outstanding business of the 2008 credit crisis. Under the plan outlined in a statement Friday, Fannie and Freddie would survive as private mortgage guarantors, while facing new competitors and strict limits on capital and business lines….

Having Lost $15,000, Bitcoin Has $2,000 More to Go; Here’s Why

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) — The Bitcoin price has fallen by about $15,000 since its Dec. 18, 2017 peak, hovering around $3,400, and key indicators give us reason to believe it has another $2,000 or so to slide. There’s little to stop it from revisiting the $1,000 range, about where the 2017 frenzy began. Highly correlated to Bitcoin (BTC), estimated dollar-transaction value has declined to levels last when the cryptocurrency’s price was about $2,400….

Bitcoin Pushes Past $4,000 as Technical Gauge Turns Positive

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Bitcoin climbed above $4,000 for the first time this year, helping to push the volatile cryptocurrency into positive territory after a brutal 2017 that saw investor post losses of more than 70 percent. The biggest digital currency gained as much 6.4 percent to $4,077 in New York. Other tokens were One technical measure that traders follow indicates more gains may be in store. The Directional Movement Index crossed into positive territory for…

Bitcoin’s Deepening Crash Now Approaches Its Worst Bear Markets

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LAGOS (Capital Markets in Africa) – Bitcoin broke below $4,000 and extended its 2018 crash to within striking distance of the biggest cryptocurrency’s worst bear markets. The virtual currency conceived just over a decade ago slid as much as 14 percent to $3,675 on Monday, bringing its decline from last December’s record high of almost $20,000 to about 80 percent. All nine of its largest peers tracked in real time by Bloomberg fell, with drops ranging as high as 21…

SEC Settles First Unregistered Crypto Securities Exchange Case

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The founder of cryptocurrency trading platform EtherDelta settled with the SEC for operating an unregistered national securities exchange in the agency’s first case of this kind. Zachary Coburn will pay $313,000 in disgorgement and interest and a civil fine of $75,000 to settle Securities and Exchange Commission allegations his crypto site acted as an unregistered securities exchange, the agency said Nov. 8. Coburn created his platform, EtherDelta, in 2016, the SEC…

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