Cashaa Hopes to Bridge Crypto and Traditional Finance

Cashaa is on a mission to bank the unbanked and wants to leverage Bitcoin to accomplish it. Bitcoin has long been touted as a way that anyone can “be your own bank.” But such promises can be misleading: Although bitcoin itself provides some opportunities for individuals and businesses to manage their own money in ways that are not possible with fiat, it doesn’t provide access to the full suite of services that a traditional bank provides. Cashaa was launched in June 2016 and rolled out its full suite of banking…

China’s Proposed Mining Ban Could Be Detrimental to Bitmain

China’s state planning agency, the National Development and Reform Commission (NDRC), has indicated an interest in banning cryptocurrency mining in the country through a notice published online in Mandarin. The report stated that the NDRC will include cryptocurrency mining activities to a list of sectors that could be shut down based on their violation of local regulations, wastefulness, safety concerns or harmful contributions to the environment. The list includes more than 400 other industrial activities. The list is part of the NDRC’s Catalogue for Guiding Industry Restructuring. The catalogue was…

Bitcoin Price Could ‘Absolutely’ Crash Below $3,000: Crypto Pioneer

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Bitcoin’s April rally has captured the attention of observers both inside and outside crypto–land, with the price perched above $5,200 once again. Blockchain pioneers are confronting the pop, even if…

Bitfinex Drops Minimum Balance to Trade on Crypto Exchange

Bitfinex has removed its $10,000 minimum equity requirement to start trading on the cryptocurrency exchange, enabling a broader range of investors to participate. The company, based in the British Virgin Islands, cited “overwhelming demand from a wide variety of traders” for the change. “We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base,” Jean-Louis van der Velde, CEO at Bitfinex, wrote Tuesday on the company’s corporate blog. “For the last six months, we have been working hard to…

Bitstamp Granted BitLicense, Will Expand Crypto Services in US

Bitstamp, one of Europe’s largest cryptocurrency exchanges, is looking to expand its U.S. operations, having just been issued New York’s latest virtual currency license. The New York Department of Financial Services (NYDFS) awarded Bitstamp the 19th BitLicense Tuesday, allowing the exchange to offer bitcoin, litecoin, bitcoin cash, ether and XRP trading pairs to the state’s residents. Bitstamp first applied for the license in June 2015, when NYDFS created the state’s landmark law. The exchange was among the first set of 22 applicants for the license, CEO Nejc Kodrič told CoinDesk. While…

How China Banning Bitcoin Mining Can Positively Affect BTC Price

A bitcoin mining ban in China will more like drive the asset’s price higher, according to Mati Greenspan. The UK-based financial analyst said the Chinese were mining bitcoins at a much cheaper rate than the rest of the world. It prompted more prominent mining corporations to set up their base in the Chinese regions. As a result, the country at one point hosted more than 50-percent of all the bitcoin mining pools. It also enjoyed a monopoly in manufacturing bitcoin mining equipment. Such statistics led many skeptics to believe that…

Hold-It-Yourself Crypto Exchange LGO to Roll Out Hardware Wallet in Q2

LGO Markets, a new bitcoin exchange for institutional traders, has revealed more details about its unorthodox approach to custody, including a forthcoming optional hardware wallet. Launched in March, New York-based LGO bills itself as a one-of-a-kind exchange that will allow clients to control their coins instead of putting them in the exchange’s wallet. The idea is that clients open a multi-signature wallet with LGO that has three keys, two of which are needed to send a transaction: the client controls one key, LGO the second one and the clearing service provider…

Leading Advocate for Mt Gox Creditors Quits, Saying Bitcoin Payouts Could Take Years

The head of the largest organized creditor group representing the former users of failed bitcoin exchange Mt. Gox is stepping down amid what he described as a protracted legal quagmire that could take years to resolve completely. Andy Pag, the founder and coordinator of Mt. Gox Legal, told CoinDesk in an exclusive interview this week that he now believes ongoing legal issues – in particular, a single massive claim by startup incubator and former Mt. Gox partner Coinlab – may hold up the crypto exchange’s civil rehabilitation process for up to two more…