World’s central banks can’t ignore the Bitcoin boom, BIS says
Businessam Staff
September 18, 2017
The Bank for International Settlements (BIS) said the world’s central banks can’t sit back and ignore the growth in cryptocurrencies as it could pose a risk to the stability of the financial system. Central banks will need to figure out whether to issue a digital currency and what its attributes should be, though the decision […]
The summer of Bitcoin ends badly
Businessam StaffSeptember 17, 2017
Bitcoin’s meteoric summertime surge risks coming to a painful end as Chinese policy makers move to restrict trading amid growing warnings of a market bubble. The biggest cryptocurrency dropped as much as 40 percent since reaching a record high of $4,921 on Sept. 1, cutting about $20 billion in market value. The collapse extended to as much […]
Bitcoin crashes again, tumbles 28% amid China’s moves to halt exchange
Businessam StaffSeptember 15, 2017
Bitcoin tumbled, heading for its worst week since January 2015, after people familiar with the matter said China aims to stop exchange trading of cryptocurrencies by the end of September. Regional Chinese regulators were notified of the timeline by a central bank-led group overseeing Internet finance risks, said the people, who asked not to be […]
China reportedly ban Bitcoin exchanges while allowing OTC
Businessam StaffSeptember 12, 2017
China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week. The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked not to be named because […]
China moves against cryptocurrencies, bans companies from raising money through ICOs
Businessam StaffSeptember 5, 2017
Regulators are about to begin scrutinizing China’s initial coin offerings, an industry worth hundreds of millions of dollars. Local outlet Caixin reported that a notice, issued by a working committee that oversees risk in the country’s internet finance sector, said new projects raising cash or other virtual currencies through cryptocurrencies will be banned. It added that authorities will […]
Bitcoin falls as much as 11%, most since July as PBOC declares initial coin offerings illegal
Businessam StaffSeptember 5, 2017
Bitcoin tumbled the most since July after China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. The People’s Bank of China said on its website Monday that it had completed investigations into […]
Six big banks join blockchain digital cash settlement project
Businessam StaffAugust 31, 2017
Six new banks have joined a UBS-led (UBSG.S) effort to create a digital cash system that would allow financial markets to make payments and settle transactions quickly via blockchain technology. The group aims to launch the system late next year. Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street have joined […]
Litecoin hits a record high, up nearly 1,400% this year
Businessam StaffAugust 29, 2017
Litecoin, the fifth-largest cryptocurrency by value and rival to bitcoin, has rallied nearly 1,400 percent since the start of the year after hitting a record high price. Litecoin, Monday, nhit an all-time high of $64.2, marking a 1383 percent rise since January first where it traded at $4.33, data from industry website Coinmarketcap.com showed. The price […]
Bitcoin is literally soaring into space after rocket-like surge
Businessam StaffAugust 16, 2017
Space-like adjectives are often used to describe Bitcoin’s stratospheric price rise. Now there may be some truth in those analogies. Blockstream Inc. plans to make the digital ledger underpinning the cryptocurrency accessible via satellite signal so people without Internet access, or in places where bandwidth is expensive, can trade and mine bitcoin. The company also […]
Bitcoin surges past $4,000 on speed breakthrough
Businessam StaffAugust 14, 2017
Bitcoin soared past $4,000 for the first time on growing optimism faster transaction times will hasten the spread of the cryptocurrency. The largest digital tender jumped to a peak of $4,187 Monday, a gain of nearly 17 percent since Friday, after a plan to quicken trade execution by moving some data off the main network […]