Tag: Crypto

Bitcoin IRA Is Letting Customers Lend Out Their Crypto Retirement Funds

Crypto Bit News Staff

Bitcoin IRA will soon allow customers to lend their retirement assets for interest.  The firm, which provides digital asset individual retirement accounts (IRAs) is partnering with digital currency trader and lender Genesis Trading to offer interest on cryptocurrency and cash holdings that customers want to lend out, including bitcoin, ether, XRP, litecoin, and zcash.  The program will be launched in November with a limited number of participants on a first-come, first-served basis, and annual interest rates will vary based on lending coin and term length.  Bitcoin IRA declined to define…

FCA Will Make Final Decision on Banning Crypto Derivatives

Crypto Bit News Staff

The government of the United Kingdom has stressed that is up to regulators, not the executive, to decide whether to press ahead with a proposed ban on certain crypto derivatives for retail investors. Finance Feeds reports that on Oct. 21, the Economic Secretary to the Treasury John Glen responded to a series of questions about developments in the U.K.’s approach to crypto-assets, including the U.K. Financial Conduct Authority’s ongoing consideration of the ban.  Glen refrained from giving a determinate answer, underscoring that: “The final decision […] is a matter for…

Crypto App Revolut Confirms MasterCard on Board for 2019 US Expansion

Crypto Bit News Staff

Cryptocurrency-friendly internet banking app Revolut plans to launch in the United States later this year, the company has confirmed. MasterCard joins Visa support for Revolut In a press release on Oct. 22, Revolut said its expanding partnership with MasterCard would allow it to enter the U.S. market by the end of 2019. United Kingdom-based Revolut has offered consumers both Visa and MasterCard spending since its launch in 2015.  In 2017, it began offering the exchange of three cryptocurrencies: Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). This later increased to five…

Crypto Market Cap And Bitcoin Climb Higher: BCH, BSV, BNB, ADA Analysis

Crypto Bit News Staff

The total crypto market cap is attempting to surpass a major resistance near the $216.0B level. Bitcoin price is correcting gains and is trading below the $8,200 level. BCH price is up more than 3% and is recently surpassed the $230 resistance. BSV price rallied more than 15% and it broke the key $110 resistance area. Binance Coin (BNB) is currently consolidating gains above the $18.00 support area. Cardano (ADA) price is up 3% and it surpassed the main $0.0400 resistance area. The crypto market cap and bitcoin could climb…

Michael Terpin Urges FCC to Curb Crypto Fraud That Cost Him $24 Million

Crypto Bit News Staff

Crypto investor Michael Terpin has written an open letter to Federal Communication Commission (FCC) chairman Ajit Pai requesting urgent action on SIM swapping fraud. Terpin, a victim of SIM swapping himself, asked the regulator to make mobile carriers hide customer passwords from employees and to provide a “no port” option, whereby customers would have to go through a company’s fraud department before transferring their SIM information to a new phone. In a SIM swap, criminals pose as the owners of a victim’s mobile phone number, convincing telecom providers to grant…

Anti-Money Laundering Laws Apply to Crypto Too, Says FinCEN Chief

Crypto Bit News Staff

The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco spoke at the University of Georgetown where he made it clear that Anti-Money Laundering (AML) laws apply to everyone. On Oct. 21, banking trade publication American Banker reported that Blanco said that fintech firms offering cryptocurrency users anonymity must comply with AML laws “just like everyone else.” Blanco highlights responsibilities and the Bank Secrecy Act Blanco seemed to direct his comments toward anonymous crypto payment systems that could conceal criminal activity and or enable users to anonymously engage in…

WATCH: UNICEF’s Crypto Fund Plans to Pay for Internet in Public Schools

Crypto Bit News Staff

Plans are in place to allow non-profit UNICEF to use cryptocurrencies donated by the Ethereum Foundation and other organizations to fund internet connectivity in public schools around the world. Announced at ethereum developer conference Devcon, UNICEF unveiled a cryptocurrency fund to receive, hold, and distribute bitcoin and ether donations . Making the first contributions to UNICEF’s Crypto Fund, the Ethereum Foundation donated 1 BTC and 100 ETH, collectively worth roughly $25,000 USD. According to UNICEF blockchain lead Christina Lomazzo and head of UNICEF Ventures, Chris Fabian, the funds will initially go…

Bitcoin IRA to Launch Interest-Earning Crypto Accounts Next Month

Crypto Bit News Staff

BitcoinIRA has partnered with digital asset lending firm Genesis Capital to offer investors the opportunity to earn interest on cryptocurrency and cash holdings.  As an Oct. 21 press release notes, Los Angeles-based Bitcoin IRA has provided digital asset individual retirement account (IRA) solutions since 2016 and processed over $350 million in investments, onboarding 4,000 clients.  Genesis Capital — a spin-off of over-the-counter (OTC) cryptocurrency broker Genesis Global Trading — has reportedly now lent in excess of $2.3 billion in cumulative originations and reported a 75% upturn in crypto and cash…

XRP Is Top Performing Major Crypto Behind Bitcoin, But Criticisms Remain

Crypto Bit News Staff

XRP continues a solid performance throughout October. This comes off the back of weeks of sideways action from Bitcoin. And while it’s too soon to call a start to altseason, XRP is still up 13% since the beginning of October, hovering around the $0.29 mark. However, critcisms of the relationship between Ripple and XRP, as well as Ripple itself, will not go away. XRP Since it began, the divisive token has faced a barrage of fire from all angles. Recently, this has come from reports of Ripple dumping XRP, and…

‘Is That Still Bitcoin?’ CoinShares CSO Questions Crypto Custody

Crypto Bit News Staff

Bitcoin (BTC) may not benefit from an influx of institutional traders, a senior executive at one of the industry’s best-known businesses warned. Wall Street and Unexchanged Bitcoins Speaking in an interview on financial news network RealVision on Oct. 18, Meltem Demirors, chief strategy officer at asset manager CoinShares, said Wall Street involvement in Bitcoin was not a straightforward win-win for adoption. Many commentators expect increased attention from big finance to transform Bitcoin’s image globally. The debut of products such as Bakkt’s regulated Bitcoin futures in September shows a desire to…