Bitcoin for payments a distant dream as usage dries up
The use of bitcoin for commercial payments has dropped dramatically this year, even as the original digital coin starts to fulfill one of the basic features of any payment currency: stability.
The use of bitcoin for commercial payments has dropped dramatically this year, even as the original digital coin starts to fulfill one of the basic features of any payment currency: stability.
Bitcoin fell below $5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered momentum.
The U.S. Securities and Exchange Commission settled charges on Friday with two technology companies for improperly offering digital tokens, mandating that they register their offerings as securities and reimburse investors.
The risk of a "flash crash" in markets is rising, strategists at Bank of America Merrill Lynch said on Friday, after a week in which previously-booming cryptocurrency Bitcoin tumbled, oil sank, and investors piled into stocks perceived as safer.
With hundreds of cryptocurrencies being issued every month, countries face a choice: ban them, leave them unregulated, or come up with rules to tame them.
Central banks are unlikely to issue digital currencies within the next decade, even in places where the use of cash is declining rapidly, European Central Bank board member Benoit Coeure said on Thursday.
Bitcoin fell to a more than one-year low on Wednesday, breaching a key support level of $6,000 and causing a wave of selling in the digital currency and other crypto assets in what has been a prolonged market slump that began early this year.
Swiss exchange SIX expects its traditional trading platform to be overtaken within a decade by an alternative it is launching that will be based on blockchain technology.
Bitcoin has found a support at $4,795. It may hover above this level or bounce toward a resistance at $5,151.
Bitcoin slumped to a new 13-month low on Monday, with the biggest cryptocurrency touching $5173.23 on the Bitstamp platform <BTC=BTSP>.
The U.S. Securities and Exchange Commission (SEC) said on Thursday it settled charges against Zachary Coburn, the founder of cryptocurrency token trading platform EtherDelta, over operating an unregistered securities exchange.
Bitcoin has experienced one of its worst annual price performances of its short 10-year-old life but also appears to have become more stable in the process.
China's central bank said bubbles in blockchain financing are apparent, and that the government should strengthen supervision to fend off financial risks.
New Yorkers will be able to use their mobile phones to obtain bitcoin or sell it for cash at kiosks similar to ATMs in and around New York City after the state Department of Financial Services said on Thursday it has approved the virtual currency license of Coinsource Inc.
Hong Kong's Securities and Futures Commission (SFC) will propose a regulatory regime known as a "sandbox" for crypto exchanges in the Asian financial hub, its Chief Executive Ashley Alder said on Thursday.
Bitcoin was heading towards a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year's bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying.
A new blockchain-based trade finance platform, developed by HSBC , Standard Chartered and 10 other banks, was launched in Hong Kong on Wednesday to boost efficiency in the multi-trillion-dollar funding of international trade.
Coinbase, one of the top U.S. cryptocurrency exchanges, said on Tuesday it raised another $300 million in a funding round led by Tiger Global Management, valuing the firm at more than $8 billion.