Bitcoin | - Part 12

Global Regulators Play Bitcoin Whack-a-Mole as Demand Explodes

LAGOS (Capital Markets in Africa) – Regulators worldwide are finding that it’s incredibly hard to control the explosive growth of money tied to no nation. Russian President Vladimir Putin is the latest to call for regulation of cryptocurrencies, saying there are “serious risks” they can be used for money laundering or tax evasion. Finance Minister Anton Siluanov has called for regulating digital money as securities, while central bank officials vowed to work with prosecutors to block websites…

Swiss Secrecy Redux? Medieval Zug Bets on a Cryptocurrency Future

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) In May a devastating computer virus called WannaCry locked up the systems of carmakers, train operators, and even hospitals. The hackers demanded users pay to get their data back with the digital currency bitcoin. Some did, and when the cyber extortionists needed to swap tens of thousands of dollars worth of bitcoin in August, they turned toShapeShift, a digital currency exchange based in the lakeside town of Zug, Switzerland. Only part of the money…

Putin Is Said to Hold First Meeting on Cryptocurrency Rules

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – President Vladimir Putin is holding his first meeting with his top finance officials on cryptocurrencies as a debate rages on regulation of the instruments, according to four people with knowledge of the plans. Bank of Russia Governor Elvira Nabiullina and Finance Minister Anton Siluanovare flying to Sochi to meet with the president and his economic aide, Andrey Belousov, Tuesday, the people said, asking not to be identified before the meeting. A firm decision on whether…

Bitcoin’s Rise Happened in Shadows of Finance. Now Banks Want In

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – At first, bitcoin was a way to make payments without banks. Now, with more than $100 billion stashed in digital currencies, banks are debating whether and how to get in on the action. Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein tweeted Tuesday that his firm is examining the cryptocurrency. Other global investment banks are looking into facilitating trades of bitcoin and other cryptocurrencies, according to industry consultants. Bitcoin has surged more than 300…

`Mind-Boggling’ Math Could Make Blockchain Work for Wall Street

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – A major breakthrough in cryptography may have solved one of the biggest obstacles to using blockchain technology on Wall Street: keeping transaction data private. Known as a “zero-knowledge proof,” the new code will be included in an October 17 upgrade to the ethereum blockchain, adding a level of encryption that lets trades remain private. Previously, users were able to remain anonymous but transactions were verified by allowing everyone on the network…

Matt Levine’s Money Stuff: Bitcoin Traders and Index Funds

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LAGOS (Capital Markets in Africa) – Goldman Sachs Group Inc. is weighing a new trading operation dedicated to bitcoin and other digital currencies, the first blue-chip Wall Street firm preparing to deal directly in this burgeoning yet controversial market, according to people familiar with the matter. Literally, why not? Banks — Goldman especially — trade things. If there is a thing that trades — and, particularly, if it is a purely financial asset that trades…

Hedge Funds Flip ICOs, Leaving Other Investors Holding the Bag

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Instead of speculating on bitcoin, the smart money has figured out that one of the surest way to get rich quickly with cryptocurrencies is to be in early on initial coin offerings. Hedge funds are proving to be first among equals when it comes to digital token sales by technology startups, receiving preferential discounts and terms and then often cashing out. While legal, the maneuver is drawing comparisons to some…

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