Liechtenstein’s Parliament Unanimously Approves New Blockchain Act

Liechtenstein’s Parliament has unanimously passed the Act on Tokens and Entities Providing Services Based on Trusted Technologies (TVTG), also known as the Blockchain Act. Pioneer in comprehensive regulation On Oct. 3, the Parliament of Liechtenstein approved the Blockchain Act, which aims to improve investor protection, combat money laundering and establish clarity. The new law will enter into force on Jan. 1, 2020. The parliament’s announcement claims that this act will make Liechtenstein the first country to have comprehensive regulation of the token economy. The newly approved law will regulate civil…

Algo Capital Loses Crypto Funds After CTO’s Phone Is Hacked

Algo Capital, an investment firm focused  on the Algorand blockchain, lost a few million dollars in USDT and ALGO tokens after its chief technology officer’s phone was breached, CoinDesk has learned. According to a source familiar with the matter, Algo Capital reported to its limited partners Friday that Pablo Yabo, its CTO, had his mobile compromised which allowed attackers to seize control of an Algo hot wallet administered by Yabo. As a result of the breach, roughly $1 million to $2 million in the cryptocurrencies were taken, according to an…

What’s Next for the Industry as ‘Crypto Winter’ Thaws?

It’s hard to tell who was the first to coin — if you’ll forgive the pun — the name for the dramatic price drop of Bitcoin (BTC) and altcoins as the “crypto winter.” But the name accurately captures the simultaneous collapse of around 2,000 global cryptocurrencies that lost a total of 80% of their aggregate market cap.  The term “crypto winter” probably came into more widespread use after BTC’s price drifted south to around $3,000 per Bitcoin in December of 2018, it’s lowest price in more than a year. For…

Former US Army Interpreter Gets 30 Years for Dark Web Fentanyl Trade

A former interpreter for the United States military forces was sentenced to 30 years in jail for dealing fentanyl, which led to the death of a U.S. Marine. Drugs paid for with cryptocurrencies According to a Reuters report from Oct. 3, a former Iraqi U.S interpreter was sentenced to 30 years in federal prison without the possibility of parole for using the darknet to sell fentanyl.  Alaa Mohammed Allawi pleaded guilty to the drug charges and acknowledged using the now-defunct online darknet market Alpha Bay to sell a variety of…

Tether and Bitfinex Expect a Market Manipulation Lawsuit: Official

Stablecoin firm Tether and its affiliate exchange Bitfinex anticipate a lawsuit alleging that Tether token (USDT) is involved in market manipulation as the result of an unpublished paper. Tether and Bitfinex to defend its position On Oct. 5, both Tether and Bitfinex published statements claiming that they had become aware of an unreleased paper “falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market.”  Both firms argued that findings and conclusions claimed by that unpublished source relies on “flawed assumptions, incomplete and cherry-picked data, and faulty methodology.” Both…

Tom Lee: Bitcoin’s Price Moves in Tandem With S&P 500

Fundstrat Global Advisors co-founder Tom Lee has stated that Bitcoin (BTC) is positively correlated with the S&P 500 market index and is not a hedge against macro turmoil. Lee voiced his opinion during an interview with industry news outlet The Block published on Oct. 1. Bitcoin moves according to macro factors During the interview, Lee admitted that his opinion is unpopular given that many believe Bitcoin to be a hedge against macroeconomic turmoil. That being said, while he agrees that some crises can have a positive influence on Bitcoin’s price…

Crypto Insurance a Promising Sector Despite Caution of Major Players

The growth in popularity of cryptocurrencies has, in many ways, outpaced the infrastructure built to support it. In terms of security, cryptocurrency exchanges that serve both as a marketplace and a store of the digital assets have become a hacker’s favorite target. Now that the cryptocurrency market has grown to its current capitalization of more than $200 billion, demand for crypto insurance is gaining traction. Already, big-time insurers are emerging as major players in the market: Lloyd’s of London, a centuries-old insurer with a net worth of $45 billion, partnered…

Most Top-20 Coins See Slight Red as Bitcoin Price Slips Below $8.1K

Saturday, Oct. 5 — crypto markets are trading sideways today, with most of the top 20 coins by market cap seeing losses and Bitcoin (BTC) dipping below $8,100. Only three coins out of the top 20 cryptos are up over the past 24 hours at press time, with Iota (MIOTA) seeing the largest gains of over 2.3%. In contrast, Algorand (ALGO), the 17th crypto by market cap, is down the most, sliding nearly 2.7%. Market visualization. Source: Coin360 Despite volatility, Bitcoin is almost flat over the past week After hovering…

Ethereum and Altcoins to Turn Bullish as Bitcoin Price Wavers?

The most recent Bitcoin price drop caused many altcoins to drop heavily, but can one say that they are doing poorly or is it only their USD pairs which are affected? Since a temporary bottom was found at the start of September, altcoins have steadily gained value in their BTC pairings. Take the following, for example: ETH/BTC is up +32%, XRP/BTC +27% and XLM/BTC has gained +29% during this time.  Crypto market data. Source: Coin360 Let’s take a closer look at altcoins to investigate what is happening. Altcoins total market…

WATCH: Dash CEO Looks Forward to Stability and Adoption

Dash, one of the top-20 cryptos by market cap, has picked up momentum over the past month with five new exchange listings. Coinbase, Coinbase Pro, and local exchanges in Mexico, Brazil and Switzerland have bucked the trend against delisting so-called privacy coins and added Dash to their listings. Dash Core Group CEO Ryan Taylor recently sat down with CoinDesk to discuss the recent spate of announcements and take the temperature of Dash’s decentralized network. “There’s kind of a natural equilibrium that occurs over time and we’re kind of there right…