After Year of Hype, Bakkt Soft Launches With Closed Beta

The $182 million effort to bring physically delivered bitcoin futures to Wall Street has officially entered testing. Bakkt, an affiliate of the New York Stock Exchange (NYSE) parent company Intercontinental Exchange (ICE), soft launched today, July 22, 2019, to give select clients a chance to test its forthcoming bitcoin futures contracts. The first of its kind in regulated bitcoin markets, the derivatives will settle in-kind, paying out traders in bitcoin as opposed to in cash like the CME and Cboe’s own futures. As its primary investor, ICE’s futures exchange will…

Read More

Bitcoin Magazine’s Week in Review

Bitcoin Magazine’s Week in Review brings you the most critical, interesting and popular news stories affecting Bitcoin this week. Regulation Libra in Congress: A Chance to Define What Bitcoin Is and What Libra Isn’t This week, Facebook’s project head for Libra, David Marcus, answered concerns raised by both the U.S. House and Senate on a variety of topics. At the end of Representative Tom Emmer’s testimony in the House, the discussion transitioned into somewhat of a Bitcoin and blockchain 101 session.  The main issue with defining libra as a cryptocurrency…

Read More

John McAfee Reportedly Released Following Detainment in The Dominican Republic

John McAfee appears to have been released following arrest and detainment in the Dominican Republic, where police seized high-calibre weapons from his yacht. Cryptocurrency enthusiast and antivirus software namesake John McAfee appears to have been released by authorities in the Dominican Republic today. McAfee posted a picture on his official Twitter account with the caption: “Leaving detention (don’t judge my looks – four days of confinement). I was well treated. My superiors were friendly and helpful. In spite of the helpful circumstances, we’ve decided to move on. More later.” On…

Read More

No Companies Have Officially Joined Libra Association Says Visa CEO

The CEO of Visa said that the listed members of the Libra Association have only signed a nonbinding letter of intent and have not officially joined. Alfred F. Kelly Jr., the CEO of Visa, said that no companies have officially joined Libra. At this stage, the 20-some companies involved with the foundation have reportedly only declared interest via a nonbinding letter of intent. According to an apparent transcript of a Q3 2019 earnings call for Visa dated July 23, Kelly said: “We have signed a nonbinding letter of intent to…

Read More

Indian Government Unveils Draft Crypto Bill

The Indian government has officially released the report by the interministerial committee tasked with proposing crypto measures. The announcement came one day before the country’s supreme court was scheduled to hear the writ petitions against the crypto banking restriction. The report contains the draft bill which proposes a ban on cryptocurrency. Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments Draft Bill Now Public, Supreme Court Hearing Delayed The Indian supreme court was scheduled to hear the crypto case on July 23. It was…

Read More

Sorry, I Don’t Want to Pay for More Bombs: Bitcoin as a Hedge Against Funding War

After nearly two decades of U.S.-led coalition bombs falling on the Middle East, peace in the region still has not been achieved. Now the United States is once again bolstering military forces, this time in Saudi Arabia. Meanwhile, taxpayers in multiple countries are being forced to pay for these ill-fated and unethical campaigns, with little to no say in the matter. Bitcoin and cryptocurrency provide a means, however, to store and move value in peaceful ways, in lieu of donating to the murder of strangers overseas. Also Read: Privacy Is…

Read More

India Crypto Regulations Report Calls for Ban

The Indian Inter-Ministerial Committee (IMC) on Virtual Currencies has completed its report on the crypto asset space and its implications for India, and it’s prepared to go before the Supreme Court with its findings tomorrow, Bitcoin Magazine has learned. Among other recommendations, the report calls for the ban of “private cryptocurrencies.” On July 18, 2019, Indian MP Anurag Singh Thakur claimed in a hearing that the IMC had finished its report and was prepared to go forward. Nevertheless, local media indicated that this report had not been submitted to any…

Read More

Survey: U.K. Crypto Companies Must Bank Abroad

Nearly three-quarters of U.K.-based crypto businesses have been forced to bank abroad due to the difficulty in opening a bank account locally, according to a survey conducted by CryptoUK, a self-regulatory trade body representing the domestic crypto asset industry. The organization, which carried out a survey of more than 40 leading companies in the crypto assets sector in May and June 2019, found that banks are frequently refusing to open accounts for crypto businesses, pushing these companies to look for more lenient jurisdictions. Forced to Bank Overseas Fifty-five percent of…

Read More

Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years

Pantera Capital founder Dan Morehead says Bitcoin could likely reach $42,000 by the end of 2019 and even $356,000 by 2022 on the Unchained podcast. Pantera Capital founder Dan Morehead discussed how Bitcoin (BTC) could hit $42,000 by the end of 2019, and even has the potential to reach $356,000 within a couple years. Morehead delivered his comments on an episode of the Unchained podcast on July 23. Morehead specifically said that he predicts BTC will hit $42,000 by the end of the year, and climb to $356,000 by 2022.…

Read More

Kleiman v. Wright Case Update: Man From Belgium Tells Judge He Is Satoshi

A Belgian man has submitted a letter to the judge in the Kleiman v Wright case claiming he is Bitcoin creator Satoshi Nakamoto. A new person has stepped forward and claimed to be Satoshi Nakomoto, the pseudonymous creator of Bitcoin (BTC). Debo Jurgen Etienne Guido made his claim in a letter filed with a federal courthouse in Florida on July 22.  Guido addressed his letter to Judge Bruce Reinhart — the judge overseeing the ongoing Kleiman v. Wright case. Guido wrote: “I hereby testify, by written letter — I am…

Read More