BitMEX Launches New Fork Monitoring Website to Keep Track of Bitcoin Forks

BitMEX just launched a website to make it easier to keep tabs on hard and soft forks on the Bitcoin blockchain. According to a recent blog post, the research arm of BitMEX is sponsoring a new website, ForkMonitor.info, which is connected to 13 nodes of Bitcoin and its hard forks, most notably Bitcoin Cash. The website will monitor many different aspects of the networks and their associated blockchains, with the ultimate goal of keeping track of these variables during forks to be “potentially useful in helping to detect unintentional consensus…

China’s Central Bank Wants to Put the Damper Airdrops: Report

The People’s Bank of China (PBoC), China’s central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of “disguised” Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities. Based on the report, the bank states that the companies running token giveaways are evading China’s…

Coinbase Is Officially Adding Support for Basic Attention Token (BAT)

On November 2, 2018, Coinbase announced that it would be integrating support for Basic Attention Token (BAT), an ERC-20 token that is designed to work out-of-the-box with the privacy-centric Brave Browser, on CoinbasePro. BAT will initially trade against USD Coin (USDC), a stablecoin that Coinbase developed with Circle Ltd. and recently added to its platforms. The new offering is not available on Coinbase’s primary platform, and the company said it would make a separate announcement when this occurs. The offering is being integrated on Coinbase Pro in the following order…

SEC’s End-of-Fiscal-Year Report Reveals Heavy Action Against …

The U.S. Securities and Exchange Commission (SEC) has released a report detailing actions taken against fraudulent ICOs and financial ventures, and, indeed, the year has been wrought with cases. The report details actions for 2018’s fiscal year, which ended on September 30, and offers insight into the ICO-related fraud that has seemingly come to light over the past several months. Misconduct actions against ICOs and similar cryptocurrency ventures are led by the organization’s Cyber Unit, which became fully operational this year. The SEC explains in the report, “We believe our…

Winklevoss Twins Sue Charlie Shrem For Allegedly Stealing 5,000 Bitcoin

The Winklevoss twins have filed a lawsuit against bitcoin investor Charlie Shrem, alleging that Shrem “stole” 5,000 bitcoins from them in 2012. According to a recent report released by the New York Times, Charlie Shrem has made several large purchases over the past year, including multiple real estate properties, luxury cars, powerboats and a $2 million house. Cameron and Tyler Winklevoss have since filed a civil suit against Shrem, alleging that these recent purchases were made using bitcoins Shrem stole from the pair in 2012. When Shrem was arrested in…

Hong Kong Securities Regulator Promises to Regulate Crypto Investment Funds

The Securities and Futures Commission (SFC) of Hong Kong has claimed that it will include crypto funds under its regulatory umbrella. The SFC issued a statement on November 1, 2018, laying out its new approach for regulating virtual assets in the future. The SFC granted that there are many inherent risks in investing in a new space like cryptoassets and set out to address these risks through new regulatory action. The statement showed a willingness to adapt the existing regulations around investing to conveniently and decisively affect crypto as well,…

Bitcoin Price Analysis: Weekly Consolidation Hints Toward Sustained …

Another week has passed as bitcoin continues to coil in a tighter and tighter consolidation. Both price and volume continue to consolidate as bitcoin decides where the next major move will be. A trend of higher lows and lower highs shows a balance of both supply and demand, but ultimately one will win out: Figure 1: BTC-USD, Daily Candles, Macro Consolidation To gain a perspective of *just* how tightly wound the market is, a great tool analysts often use are Bollinger Bands (bbands). Bbands are a visual representation of forecasted…

IRS Advisory Committee Requests Clearer Guidance for Crypto Tax Code

On October 24, 2018, an advisory committee to the Internal Revenue Service (IRS) published a report calling for clarity on the IRS’s position toward cryptocurrency taxation. The Information Reporting Program Advisory Committee (IRPAC) recently released its annual report advising the IRS on possible areas to improve the tax code, specifically referring to data gathered throughout the fiscal year of 2018. In this 95-page report, multiple sections are dedicated to the issue of cryptocurrency taxation, with the IRPAC specifically recommending “that the IRS issue further guidance on the information reporting and…

Crypto is Property: Chinese Court Upholds Citizens Rights to Own Bitcoin

The Shenzhen Court of International Arbitration (SCIA) has recently affirmed that cryptocurrencies, specifically bitcoin and several of its hard forks, are considered legal property and Chinese citizens have a right to own and transfer them. The SCIA recently published an analysis of a contract dispute over WeChat, describing the legal proceedings of a case in which one individual managed nearly $500,000 worth of crypto assets on behalf of another private individual. The manager then refused to return these assets after their client dealt with a third party. The defendant in…

Bitfury May Be Mulling Over an IPO

Bitfury, a leading mining firm and blockchain software company, is reportedly in talks with global investment banks in Europe and Hong Kong as it mulls an Initial Public Offering (IPO), according to Bloomberg sources close to the matter. The source also indicated that Bitfury is mulling other strategic options alongside the IPO, including debt financing or selling a partial stake in the company. If the mining giant does hold an offering, it’ll reach for an estimated $3 to $5 billion valuation. The offering, which could begin trading as early as…