Day: May 25, 2018

Another day of trading has passed and the cryptocurrency markets look worse for wear. Albeit it is evident there is still some room for improvements, most of the declines have been stemmed, for the time being. By the look of things, the Bitcoin price may be on its way to reaching $7,500 once again. Reaching that value may prove extremely difficult, though, as the bears remain in control of the market, for the time being.

What Comes Next for the Bitcoin Price?

In the world of cryptocurrency, things hardly ever go as people expect them to. Despite the lack of news warranting a massive drop in value, the Bitcoin price has seen its fair share of setbacks through most of 2018. It is evident this situation may not necessarily improve in the near future, although things are never set in stone in this industry.

With another 1.38% Bitcoin price decline over the past 24 hours, it is rather evident things are not looking overly impressive by any means. While that doesn’t necessarily mean this negative trend will continue for much longer, it seems there will be little improvement throughout the weekend. After all, Saturdays and Sundays are notorious for very unusual trading behavior, which usually results in pretty negative market pressure.

Whether or not the Bitcoin price can reach $7,50 again this weekend, remains one of the bigger questions waiting to be answered. Even so, reaching that value is only part of solving the problem. After all, there is still the question as to whether or not this value can be maintained for more than a few hours, as the bears will undoubtedly try to push the Bitcoin price well below this threshold sooner rather than later.

Thanks to $4.56bn in 24-hour trading volume, things are not looking all that bad for the Bitcoin price. Although one would assume this is decent volume, it has become apparent the overall interest in trading cryptocurrencies is on the decline. With less than $45bn in volume over the past 24 hours, things are simply not adding up to warrant any major increases in the next day or two.

As of right now, OKEx is the leading exchange when it comes to Bitcoin trading volume. That in itself is interesting, as it generates more volume than Binance and Bitfinex. Huobi and OKEx’s TRUE pair are also in the top five right now, but only one of these five trading platforms has a fiat currency pair. That means very little fresh capital is entering the Bitcoin market, and by extension, the rest of the cryptocurrency industry.

For the time being, it remains unclear what the future will bring for all cryptocurrencies. Unless the Bitcoin price recovers in a meaningful manner, none of the altcoins will see any real improvements either. This uneasy status quo should not be underestimated, as it may very well remain in place for quite some time to come. Eventually, things will pick up for all cryptocurrencies but now does not appear to be that time whatsoever.

Investigations are all about the crypto ecosystem, but a recent report regarding a US Department of Justice price manipulation crackdown was widely said to be the cause of market caps falling, and by a lot. Fundstrat, the ecosystem’s favorite financial professional crypto bull, is on record as welcoming government regulation, what it calls “adult supervision.”

Also read: Bitcoin Use Case: Limiting Government Growth

Fundstrat Welcomes Adult Supervision of Crypto

Legacy media, thanks to a Bloomberg article, ran wild with fear, uncertainty, and doubt (FUD) this week, regarding a supposed US Department of Justice investigation of price manipulation. Weaker hands in response effectively sent bitcoin core (BTC) well below $8K, heading for 7, and the entire crypto market cap slid accordingly.

Debate about regulation in the US and around the world has raged the entirety of cryptocurrency’s near decade-long life. Bitcoin licensing in New York, senate hearings, G20 central bankers urging global crypto laws, the requisite jockeying and lobbying for exclusive access to regulators, taken together, seems to be slouching toward something major coming down from financial minders. And well-publicized recent hacks haven’t helped confidence. There seems to be a new initial coin offering scam daily. 

Rumors the DOJ is teaming with US bitcoin futures regulator, the Commodity Futures Trading Commission (CFTC), and possibly patching-in the US Securities and Exchange Commission can spook animal spirits, of course. Anecdotal evidence abounds. Add to that six rather frightening words, when strung together by regulators, that make speculators’ ears perk, “neither confirm nor deny an investigation” becomes all the evidence anyone needs to dump positions. Even large exchange Bitfinex has been subpoenaed by the CFTC.

The ecosystem’s favorite bull, Thomas Lee of Fundstrat, in a client letter, put a finer point on happenings: “These stories have pressured the crypto market, as regulatory action (and related headline risk) reduces risk appetite and also is a further deterrent for near-term inflows from new investors. However, these actions signal that adult supervision is coming to crypto and adding such oversight incrementally improves the structural integrity and legitimacy for crypto-currency investor. In other words, in order for institutional investors to be more actively engaged in crypto markets, such adult supervision is a necessary precondition.”

Regulation is an Anathema to Bitcoin

Prior to welcoming crypto regulation, Mr. Lee ate a giant, warm slice of humble pie following his Consensus conference bump prediction of many thousands in BTC price increase. Just the reverse, of course, happened, and Mr. Lee, to his credit, reappeared on as many shows to take his medicine. He acknowledged getting it badly wrong, but ultimately attributed the decline due to unforeseen regulatory rumors and, ironically, saturation at the conference of hype.

In a slide presentation graphic, Fundstrat continued to use “welcome,” as in crackdowns being “welcome and also widely anticipated.” On price specific manipulation investigations, they urged “this probe is again, a very welcome development.”

To crypto enthusiasts, they are decidedly torn. On the one hand, nearly everyone will agree bitcoin was developed to essentially leave government regulatory environments. Government regulations are not issued out of benevolence toward the hoi polloi. No, rather they’re instead an effort to pick winners and losers in terms of which sector of businesses lobbied the hardest, greasing wheels of states in their direction. Regulations enforce burdens often on startups, insulating more established and connected businesses from too much competition. Corruption, then, can and does become institutional. Present day banking is proof enough. Bitcoin, in Satoshi’s vision, releases adopters from financial cartels, at least in theory. To invite regulators goes against everything crypto stands for.

On the other hand, regulation does seem to be inevitable. And if it is, shouldn’t the ecosystem get out in front? Seems rational enough, and that’s a generous reading of Mr. Lee and Fundstrat’s comments. Nevertheless, the company remains bullish on bitcoin core (BTC). They point to Coinbase in particular and its staggering growth to 20 million customers, and BTC related wallet downloads of more than 3.5 million. They do, however, hold to a degree of caution if headlines remain negative and mining rewards/price reach parity.

Do you think regulation of crypto is inevitable? Let us know what you think in the comments below.

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Images via Pixabay, Fundstrat.

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The post DOJ Crypto Investigation Tanks Prices, Fundstrat Welcomes Adult Supervision appeared first on Bitcoin News.

Niall Ferguson, author of ‘The Ascent of Money: A Financial History of the World’, has spoken out against initial coin offerings (ICO) because of the associated potential for fraud and scams. 

Rooting out Bad Actors in ICO Market

Ferguson’s comments were said at a seminar recently held by the Bank of England, where he shared his support for Bitcoin, but spoke out against the associated, often unregulated fundraising method of ICOs.

“I wish I had a Bitcoin for every phony white paper I’ve been shown the last six months, by people trying to raise money before the SEC clamps down,” Ferguson, a senior fellow of the Hoover Institution at Stanford University, said according to Quartz. “When there’s no regulation, then the rogues are very quickly on the scene.”

ICOs have been increasingly making headlines — especially following the astronomic rise in the value of cryptocurrencies that was seen toward the end of 2017. Just last week, the Wall Street Journal (WSJ) released an analysis of the fundraising method, but Ferguson believes the organization might just be scratching the surface.

ICO Red Flags

To research the industry, the WSJ combed the white papers — documents outlining the specifics of a company’s ICO — of 1,450 ICOs, finding 271 ‘red flags.’ These red flags include things like celebrity endorsements, promises of exceptionally high returns, and (false) claims of regulatory compliance. 

Of the projects that the WSJ singled out as suspicious, most were uncovered because of plagiarized texts, images of team members and/or investors taken from stock photography banks. In 111 cases, entire sections of company white papers were simply copied and pasted from competitors websites.

Even more scary is that, put together, the 271 ICOs identified as having red flags they have garnered a combined sum of over $1 billion from investors. This is according to a review of company statements and online transaction records performed by the WSJ.

Regulators Strike Back

While some of the projects are still raising money, others have shut down or have been frozen by the U.S. Securities Exchange Commission (SEC), the federal regulatory authority that has been tasked with investigating ICOs and other potentially fraudulent activities in the cryptocurrency space.

These moves by U.S. regulators come less than a week after the SEC created their own fake ICO website, which was developed in attempts to show potential investors the obvious signs of ICO scams.

On the site, HoweyCoin — which takes its name from the 1946 four-part Howey test, created to determine what qualifies as a security — is presented as a way to invest in the luxury travel market. But it’s all a ruse, created to show potential investors just how easy it can be to fall victim to such scams.

The WSJ is not alone in its scrutiny of ICOs. In fact, other reports signal even deeper problems in the market. For example, according to news organization Izvestia, who cited the Russian Association of Cryptocurrency and Blockchain, half of the $300 million raised by ICOs in Russia in 2017 were pyramid schemes.

Another source, Bloomberg’s Matt Levine, was asked what the percentage of ICO fraud is, to which he answered: ‘Somewhere north of 50?’

While the numbers here are clearly hard to properly grasp, and although they may vary, they’re still indicative of a large problem. Moving forward, if regulators want retail investors to stop being scammed by unregulated schemes, they have to demonstrate the value of oversight, promote fairness, and emphasize the common adage that if something seems too good to be true, then it probably is.

Featured image from Shutterstock.

The post Author Niall Ferguson: I Wish I Had a Bitcoin for Every ‘Phony’ ICO White Paper Received appeared first on NewsBTC.

De Beers has announced that the world’s largest diamond jewelry retailer has joined its blockchain initiative aimed at improving industry transparency

On May 7, Bill Gates proclaimed on CNBC’s Squawk Box’ that he “would short [bitcoin] if there was an easy way to do it,” as he considers bitcoin to be “kind of a pure ‘greater fool theory’ type of investment”. This statement is somewhat surprising as there are actually several ways bitcoin bears can short the digital currency.

Speaking on the future of central banking, Mark Carney says the primary role of banks is maintain trust in money. As for cryptocurrencies, a Bank of England-backed coin is, for now, not being seriously considered because the current volatility inherent in the coins prevent them from being a secure medium of exchange.

At the panel in Stockholm, the BoE governor said the ‘past, present, and the future’ of institutions comes down to maintaining public confidence.

Carney also reiterated that in order to keep money safe, the BoE has overhauled the financial system since the financial crisis, in attempts to make it more resilient to unexpected turns like 2016’s Brexit vote, according to Bloomberg.

The governor also said he was open-minded about the prospect of a central-bank-issued digital currency, but added such a move was not imminent, because, as Carney believes, digital currencies currently don’t perform the role of money.

Carney and the Bank of England

Speaking in March, Carney called for government regulation of cryptocurrencies, saying that ‘the time has come to hold the crypto-asset ecosystem to the same standards as the rest of the financial system.’

Carney, who also heads the Financial Stability Board, an international finance regulator, is part a growing number of industry insiders calling for greater oversight of the coins.

In his argument, Carney said that digital currencies have ‘extreme volatility,’ and noted that they reflected a lack of any intrinsic value, further stating that digital currencies themselves have failed as a form of money because of this volatility.

He also rejected the prospect of a central bank digital currency in the near future — but did say the BoE remains open-minded about the possibility.

BoE-Issued Digital Currency

Whilst the BoE are indeed studying the implications of central bank issued digital currency, a government minister has stated that there are no plans in the immediate future to launch their own.

The issue was raised by a Labour MP in early February, when Barry Sheerman asked ‘whether the government will introduce a fiat digital currency.’

John Glen, the Economic Secretary to the Treasury and City Minister, responded, saying:

“The Bank of England does not currently plan to issue a central bank-issued digital currency… However, the Bank is undertaking research to better understand the implications of a central bank issuing a digital currency.”

These moves actually seems contrary to public opinion in the U.K., according to a recent survey conducted by market research and polling company D-CYFOR. It found that 60% of those surveyed indicated that they would not be in favor of a BoE-backed digital currency.

Notably, though, the research also found that 93% of Britons have now heard of Bitcoin, likely a much higher percentage than it would have been a year ago since the value of the digital currency skyrocketed towards the end of 2017.

Featured image from Shutterstock.

The post Mark Carney: BoE Remains Open to Possibility of Central Bank Crypto appeared first on NewsBTC.

The Shenzhen municipal tax authority has partnered with Tencent to apply blockchain and AI technology to streamline tax management and fight tax fraud

According to regional publications in Russia, the alleged BTC-e mastermind and prisoner in Greece, Alexander Vinnik, has allegedly confessed to charges of fraud and money laundering on May 24, 2018. Reports reveal a signed document details that Vinnik admits to committing financial fraud between 2011-2017 through the BTC-e cryptocurrency exchange.

Also read: This Week in Bitcoin: Ghost Scares Markets, Facebook Mulls Coin

Russian Federation Receives an Admission of Guilt from the Alleged BTC-e Mastermind Alexander Vinnik

Russian media sources such as Interfax and Vinnik’s lawyer, Ilias Spirliadis, have reported that Alexander Vinnik has signed a paper that admits to wrongdoing, in regard to money laundering and other cyber crimes. The publication Crime Russia explains that the Russian Federation’s Prosecutor General’s Office received the admission document and passed it on to higher law enforcement officials in Moscow.

The document appears to be a “full confession” to financial fraud using the BTC-e exchange between 2011-2017. The fraudulent activities had caused Russian residents to lose upwards of 750 million rubles ($12.4Mn USD) the document details. Further regional media sources report that Vinnik also confessed to other crimes tethered to computer hacking. Sources say this document may give the Russian Federation the means to extradite Vinnik. The United States government had previously attempted to extradite Vinnik to the U.S. but the motion was challenged.

Vinnik’s Lawyer Ilias Spirliadis: The Russian Federation Will Likely Follow Up With Another Extradition Attempt

Last week officials from the Greek prison where Vinnik is locked up, uncovered a plot that aimed to kill Vinnik. The suspect now has “special security measures,” including not eating and drinking products given to him from unfamiliar individuals. It’s still uncertain at the moment what Greek court officials will do if Russia attempts to extradite Vinnik again after his admission. The document is now in the hands of officials from the police department in the Ostankino district of Moscow.

Vinnik’s lawyer Ilias Spirliadis confirmed the admission document was legitimate and also emphasized that the Russian Federation will likely submit another request for extradition.

What do you think about Alexander Vinnik Confessing to Money Laundering Crimes? Let us know your thoughts on this subject in the comments below.

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Images via Pixabay, Crime Russia, and AM 880 The Biz.

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The post Alleged BTC-e Mastermind Confesses to Russian Money Laundering Charges appeared first on Bitcoin News.

Fundamentals and development of Bitcoin Cash is not a problem. The issue we all have is the failure of price,-value-to reflect the effort of the community. Not only do we have a robust network that can scale and settle transactions faster, there is wide adoption of the coin from different payment providers and merchants. As it is, Bitcoin Cash is down 14 percent for the week and two percent in the last 24 hours but these metrics would widen should there be a dip past $930 or May 24 lows. Today’s price action is therefore important in my view.

From the News

A cryptocurrency would be useless if there it has no real user case encouraging retail or corporate adoption. This is why behemoths like Bitcoin, Ethereum and Ripple for example are driving hard selling their products to the masses. Bitcoin Cash is doing the same and few days after forking, Revolut is listing BCH as a tradable asset or investment to their customers. In essence, the London based payment provider is making it possible for customers to integrate their fiat banking details and link it directly to their Revolut card.

This way, their users would enjoy instant fiat-crypto transfer via Bitstamp who charges 1.5 percent transaction fees via a simple dash board. Going forward, Bitcoin Cash would be an option for buyers and it’s not a speculation or ifs because whenever a coin is available to the masses, market capitalization and liquidity follow suits. We expect the same to happen to Bitcoin Cash in the days to come.

Thousands of miles away, there is good news for Bitcoin Cash supporters in Colombia. Bitek might turn out to be their gate-away. As a payment provider, merchants spread throughout Colombia can now receive payment in Bitcoin Cash and convert them to Pesos should they want to liquidate. This is not the first such service as it is similar to what BitPay is doing. Services like these protect merchants from price volatility as they can sell their BCH stash anytime and get their Pesos in an instant. To facilitate this, Bitek will use BCH-Pesos approximates from local cryptocurrency exchanges and Bittrex.

It's official! We accept #Litecoin #BitcoinCash and #Dash and of course continue to take #Bitcoin! Help us spread the word #cryptocurrency fans! https://t.co/WJG9GdW1sq

— CheapAir (@CheapAir) May 22, 2018

On daily user case front, Cheap Air now accepts payment in Bitcoin Cash and a host of other currencies including Litecoin and Dogecoin.

Bitcoin Cash (BCH) Price Technical Analysis

Weekly Chart

Before this week, many enthusiasts thought Bitcoin Cash hard fork would jolt prices to higher levels as buy pressure flow back to the market. Disappointingly, that was not and hasn’t been the case considering price action this week. What we are seeing is sellers pushing prices and printing new lows as days pass.

In the last seven days for example, Bitcoin Cash was the third worst performer in the top 10 after Cardano and IOTA. The question in everybody’s mind is this: will this trend change or Bitcoin Cash liquidation continues despite better features in their new network update?

In my view, the general crypto sentiment is still bearish and any bear candlestick today reversing attempts of higher highs in the last two days might initiate another wave of sell pressure driving prices back to $850. On the same vein, any extension of that long lower wick this weekend could create a spring board effect propelling Bitcoin Cash back to $1500.

Daily Chart

After May 18 higher highs and fake bullish break out, prices broke below $1100 and now, we are trending at previous key support lines around $850. Our stops were obliterated and many more are likely to be hit if we maintain a bullish outlook in a yet to be confirmed bullish reversal.

The trend is down but market participants would be telling us a different story if we see higher highs building on May 24 bullish candlestick bouncing off from around main support at $850. Then again, on the back ground there is a divergence between prices and volumes. While the later increases, prices are going down. Regardless, we remain neutral at the moment and the only time I will recommend buys is when an up-thrust above $1300 happens. Otherwise, any drop below May 24 lows at $930 and BCH would likely test $850.

The post Bitcoin Cash (BCH) Price Technical Analysis (May 26, 2018) appeared first on NewsBTC.

Statistics show that alt coin prices are within range and oscillating within May 24 high low. That’s including Tron which had an important fundamental event yesterday. The TVM is but a non issue and whether this is a calculation and a soak of sells/buy, the chart will show. In the mean time though, most coins as IOTA and EOS are within strong support that can either make or break them today. Any convincing evidence of trend resumption would necessitate initiation of trades according to the direction of the break out. Otherwise, we remain on the sidelines.

EOS Price Analysis

Besides trading, it’s better to make sure that your EOS tokens would be safe before EOS migration. There are several ways of ensuring that your coins are safe in line with yesterday’s suggestion. Complementing security, ensure that your EOS coins are under EOS registry. There are several ways of ticking your EOS coin register. Do so before June 2 when distribution would be in a 1:1 model. In the meantime though, may 24, 2018 afternoon events could jolt price action. Notice that bulls were higher reversing losses and yesterday statistics shows that buyers are up eight percent. Could there be a follow through as the week caps?

Technically, buyers are building on March 24 double bar bull reversal pattern and could edge higher today. While volumes are below average, odds are sentiment could turn out to be the main price propellant and that’s what we are banking on. Therefore, our trade strategy would involve looking for buys opportunities in lower time frames with stops at $11 for aggressive traders and $10 for conservatives. The latter is a strong support line and just below May 24 lows and that’s where I propose fixing your stop loss.

Litecoin (LTC) Price Analysis

At first there seems to be resuscitation in Litecoin prices but after yesterday’s events, price action is oscillating within May 24 high low. Now, what’s happening here is important because after May 24 completion of a double bar bull reversal candlestick, buyers seems to be joining in and we can see that in our price action. Besides, after that accumulation in the first week of April and consequent, it’s only now prices are testing the same trade range.

In essence we now have a series of higher highs happening inside a $70 trade range whose limits stands at $180. Considering these developments, it’s safe to buy at every low because prices appear to be bouncing off the lower limit of this trade range. However, this shall only happen after there is sufficient evidence and push above $140.

Stellar Lumens (XLM) Price Analysis

As usual, there is nothing much developing on the news front on matters Stellar Lumens. However, what we are seeing is a reflection of the overall market mood. There is a breather for buyers after 28 days of incessant bear pressure in what seems to be an uptrend.

If we bring to play the past three candlesticks then we realize just maybe buyers are finding a footing following May 24 rejection of lower lows and the follow through we saw yesterday. As a matter of fact, this is happening at around the 61.8 percent Fibonacci retracement level. We can jump right in and buy Stellar Lumens at current prices. But because we want to remain cautious, loading at 35 cents is safer since then the market would have expressed itself better. In that case stops at 30 cents would do the job just right.

Tron (TRX) Price Analysis

As always, Tron and Justin Sun are skilled marketers. With less than a month before the World Cup starts, Tron is strategically positioning after partnering with vSports. This is a platform that would surely bring visibility to Tron and blockchain technology because the event draws global viewership at a ball park 4 billion viewers. That’s not all. ADDEX a decentralized exchange which moves 25 percent of DEX volumes via Ethereum shall now shift their workings to Tron.

TRON and vSport announced a partnership to co-develop the first World Cup prediction platform #2018fifaworldcuprossia #VSC @sneijder101010 @justinsuntron @Tronfoundation @Bai_Qiang2018 pic.twitter.com/QLyDvglGMC

— vSport (@vSport_io) May 25, 2018

In the meantime, price expansion was not as swift as we had anticipated. Yes, there are attempts of higher highs especially in the 4HR chart. So, unless there is a follow through and emergence of buyers, yesterday’s TVM launch is quickly turning out to be a non-event. Ideally, I need to see buyers bid Tron prices above 7.5 cents. From there we can be better placed to buy whenever buy opportunities presents themselves in lower time frames. Otherwise, this remains a sell.

IOTA (IOT) Price Analysis

At the moment, IOTA is trying hard to mold and compact its infrastructure. They are taking a two prong approach and one of them, IOTA ecosystem seeks to build a strong community where collaboration and communication is easy. This fosters development within IOTA. Secondly, Qubic which they claim is a big project with even bigger potential. David Sønstebø calls it the best thing to have ever happened to IOTA and what it is, is still shrouded in mystery. However, solid information claims that Project Q which IOTA is building is nothing more but a computational power market place and a platform for smart contract design and deployment.

Our previous assertion is still valid and we cannot rush to buy IOTA without seeing market participation. Even May 24 volumes were thin contrary to what usually happens in absorption. Unless there is a spike in volumes anytime today, I’m net bearish even if prices are above $1.5. Our perfect entry and rejection of lower prices should be accompanied by explosion in volumes pushing prices towards two. Conversely, if the same happens and it leads to a break below $1.1, then sell and trade with the trend.

The post Be Wary of Tron and EOS, Every Hyped Mainnet Launch is Followed by a Price Dump: EOS, Tron, IOTA, Litecoin and Stellar Lumens Price Analysis (May 26, 2018) appeared first on NewsBTC.

It’s rather like the effects of smoking, or slouching, or eating too much sugar. You know you shouldn’t do it. You know it’s bad for you. But there are so many other things that can kill you first, right? When you spend so much time chasing customers and crafting marketing campaigns to attract and retain them, what’s a little laxity with your data policy going to cost? Quite a lot, actually.

The GDPR (General Data Protection Regulation) is that deadly threat that most companies know about but somehow always seemed so far away. But today’s the day, and companies that do any kind of business with EU citizens had better get compliant – or get their checkbooks ready.

What Are the GDPR Changes Again?

There are volumes of information you can read on this, starting with its official site, but briefly, the GDPR aims to protect EU citizens from data breaches and safeguard their privacy. This theoretically means that no more incidents like Cambridge Analytica will happen again (or if they did, they would be heavily penalized).

Yet the purpose of the GDPR isn’t to cripple businesses; it’s to create a clear and consistent framework for them to work in.

Here are a few of the aims of the GDPR:

• Give citizens more control over their personal data
• Have clear data rules to provide a framework for companies in the EU
• Levy hefty penalties for non-compliance and data misuse

 Data Rights for Citizens

If you reside in the EU, you’re probably tired of the steady flow of emails from companies begging you to opt in to their newsletters, spam offers, and updates. It’s rather like poetic justice and a somehow delightful feeling to know that you finally have some power back in your hands. Especially when you never realized that you’d opted in to weekly mail blasts in the first place.

The GDPR ensures that consumers give their “clear and affirmative consent” when it comes to how their data is processed. They have the right to know how it will be used and why and who will receive it. They also have the right to be “forgotten”, meaning that their information can be deleted upon request, or transferred to another service provider. Companies must also inform consumers if their data has been hacked.

It’s a noble move on the part of the EU to protect its citizens. However, the likelihood is that, in the end, they’ll get so tired of clicking through acceptance policies that they’ll stop reading them anyway. Just as ICO investing should probably come with some sort of a disclosure, but you probably wouldn’t read it anyway – though you couldn’t say you weren’t warned.

In a statement released yesterday, Vĕra Jourová, the EU’s Commissioner for Justice, Consumers and Gender Equality, said that “personal data is the gold of the 21st century,” but we are too freely giving it away, particularly online:

When it comes to personal data today, people are naked in an aquarium. Data protection is a fundamental right in the EU. The new rules will put the Europeans back in control of their data.

If You’re Not in the EU, It Still Applies to You

You don’t have to be based in the EU for the GDPR to apply. Just think about Facebook, Twitter, or any tech company with far-reaching audiences. Any company doing business with the EU needs to get with the program – and fast.

Fail to produce the right information or treat your EU customers’ data with care, and you can expect a warning or a fine of up to 4 percent of yearly turnover. Writing up a new privacy policy page on your website isn’t enough to be considered GDPR compliant.

Moreover, with the GDPR, the EU is looking to set a global standard and ensure citizens’ fundamental rights. And if it proves successful, it may be considered by other countries, including the US. There is even a new set of rules for data processing when it comes to law enforcement.

It’s Not Too Late to Act

Until the EU really tightens the narrative and companies begin to catch up, you still have time to get your company GDPR compliant, but don’t waste another moment. There will be no mercy for the company that suffers a cyber attack compromising consumer data that they should never have had in the first place. That kind of happening could see companies go out of business fast.

Yet, despite the timetable of two years to get complaint (and years of preamble before it), many companies fail to understand the implications. And it seems that very few companies are actually 100 percent GDPR compliant today, especially smaller businesses which may assume that the GDPR doesn’t affect them.

In fact, according to a report by The Verge, virtually no one is fully GDPR compliant, including the regulators. Moreover, at least 60 percent of tech companies are not GDPR compliant.

Furthermore, many companies confuse GDPR compliance with security, yet cybercriminals are becoming more adept each day at stealing personal data.

The Takeaway

Even after getting GDPR compliant, companies will need to perform continued security and compliance assessments to ensure that the data they’re fighting so hard to protect doesn’t end up in the wrong hands.

Cointelegraph

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, TRON: Price Analysis, May 25 Cointelegraph Bitcoin is sliding towards its lower target objective of $7,000. The attempt by the bulls to pull back on May 24 could not find buyers at higher levels, and prices have turned down once again. Currently, the digital currency is trying to hold the ... and more »

The impact of cryptocurrencies is continuing to shape the modern world. Countless industries are being entirely revamped and improved thanks to blockchain technology. The crypto world is full of exchange platforms and more will come along in the future. Some will flourish and many will fade away. This is partly do to the void between the conventional and crypto spheres. Blockchain is undoubtedly revolutionary and the technology is certainly here to stay. However, mainstream adoption on a global scale is yet to be realised. CoinMetro look to change that, by bridging this gap with their all in one trading platform.

CoinMetro has elevated themselves as a leading exchange that is here to stay. A native of Estonia, CoinMetro is situated in a hotbed for cryptocurrencies. They are in a fortunate position to be based in one of the most crypto friendly countries in the world. Many decentralised platforms offering trading services are following suit by heading to Estonia to acquire licensing to help them accept and exchange both fiat and cryptocurrencies. With transparency as a focus, CoinMetro is leading the way forward by successfully acquiring a trading licence in Estonia.

The trading industry is set to change, with the CoinMetro exchange. Boasting a wealth of experience CoinMetro and the FXPIG brand erupted onto the scene in 2011 with an aim to disrupt the forex industry. They had a unique focus to push transparency and have their clients best interest in mind.

An Estonian License For CoinMetro

CoinMetro has successfully secured a groundbreaking trading license from the Estonian government. The approval has already allowed them to expand their operations in Estonia as they continue to thrive. In the wake of the soon to be launched exchange platform, the masses can hope to enjoy crypto services. Complete with fast transactions on a simple platform that all levels of traders can benefit from. The new platform will promote ease of use and convenience, by offering services such as exchanging fiat for crypto, crypto for fiat and crypto to crypto.  

The approved license serves as a milestone to bridge traditional forex trading with cryptocurrency. Indeed, users are now able to instantly wire money or use their credit card to buy cryptocurrencies on the platform. There is no more waiting with easy and fast transactions as users can also cash out their cryptocurrency to fiat as they please. With such a simple and unique concept users are now able to trade with proficiency, just as they would on a traditional forex platform.

Compliance at its Core

CoinMetro is designed to benefit the masses, by offering an all in one platform set to revamp the industry. Blockchain technology has massively impacted the banking sector and with such regulations, the most acceptable way of bringing cryptocurrencies to light is to comply with these laws and regulations. This is clearly paying off for CoinMetro, as the company is gaining major traction with their regulatory licenses. Their vision is becoming a reality and users will soon be able to enjoy a decentralised trading platform that is familiar and made for everyone.

What CoinMetro Have to Offer

CoinMetro has a lot to offer, their different cryptocurrency services suit the needs of people from all walks of life:

• The everyday user: When launched, the platform will not only offer an eWallet, but a crypto debit card which users will be able to use to spend their crypto balances, just like a regular debit card.

• The serious trader: From individuals to institutional investors, the platform will comprise ETCFs, Tokenized Asset Management (TAM) and an exchange to satisfy even the most experienced of traders.

• The Token sale visionary: By taking care of the whole token sale launch process, including KYC, distribution and listing on its own exchange, CoinMetro will release developers of the burden of coin offerings, allowing them to concentrate on their core objectives of providing blockchain based services.

CoinMetro has a goal to allow users to seamlessly transition between conventional and cryptocurrency trading. Users are provided with an e-wallet within the platform, that is encrypted and secure. The wallets and private keys are held by the users or stored on their behalf, to

optimise security and ease.

CoinMetro is on the verge of bringing the cryptocurrency world to the palm of users hands. With a vision to bring cryptocurrency to the masses, their platform is the key to doing so. To find out more, visit their Website. You can also read the Whitepaper here. CoinMetro also welcomes you to connect on Telegram.

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It does not happen all that often that blockchain and eSports come together in a meaningful manner. Play2Live is trying to shake things up by hosting a virtual Hearthstone tournament in the coming days. Eight players will participate in this event, which will be streamed to users all over the world. It is another indication that blockchain technology can make interesting things happen.

Hearthstone and Play2Live Come Together

It is pretty interesting to see how Play2Live is trying to make a name for itself in the gaming industry. For those readers who are unaware of what this platform does, it is a decentralized streaming platform for gamers and eSports fans. It employs blockchain technology to create a more immersive ecosystem for all participants. Interaction among viewers, players, and broadcasters is encouraged through a wide range of monetization options.

While such platforms may hold a lot of merit, it will be difficult for such ventures to gain any traction. Most people associate eSports and game streaming with household names such as Twitch. Additionally, there are plenty of live streaming options on Facebook, Twitter, YouTube, and so forth. It is a very difficult market to enter, but Play2Live is trying to make a positive impact.

Their first order of business is hosting an interactive Hearthstone tournament. In the world of gaming and eSports, Hearthstone has quickly become a major brand. These tournaments stand to attract a lot of viewers and interested parties who may wish to use the Play2Live platform in the future. Eight players will participate in the upcoming tournament. Although the participants have not been announced as of yet, the company claims that well-known players will take part.

It is not the first time Play2Live has hosted an eSports tournament. The previous tournament saw $100,000 worth of Level Up Coins distributed to participants. It is unclear how much money players can earn at the Hearthstone tournament, although a similar amount seems plausible. It is another way to raise awareness of Level Up Coins and how they can benefit both streamers and viewers on the Play2Live platform.

Whether or not the upcoming tournament will bring more positive attention to this blockchain-based venture remains to be seen. Organizing tournaments is the right way to go when trying to compete with the existing major players in this industry. It will all depend on who participates and how many viewers tune in. eSports is a booming business right now, and with so many platforms on the market, interesting things are bound to happen sooner or later.