Bitcoin 

South Korea: Crypto Crimes Cost $2.28B Since July 2017

The South Korean Justice Ministry estimates that cryptocurrency-related crimes have caused 2.69 trillion won (about $2.28 billion) of financial damage between July 2017 and June 2019. According to a July 21 report by English-language local media The Korea Herald, the ministry claimed that 132 cryptocurrency-related criminals and fraudsters had been indicted and detained, with another 288 indicted without physical detention during the aforementioned time frame. The report states that, while Justice Minister Park Sang-kim has ordered stern measures against cryptocurrency criminals, a lack of clear regulations on cryptocurrency exchanges has…

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Bitcoin 

Cryptocurrency Grin Follows Through With Anticipated July 17 Mainnet Hardfork

Privacy-focused cryptocurrency Grin has completed the first hardfork so far on its mainnet. The fork occurred at block height 262,080 on July 17, as shown on the Grin block explorer Blockscan.   According to an official announcement from Grin core dev Quentin Le Sceller, the latest blockchain hardfork is designed to discourage Grin mining through dedicated application specific integrated circuits (ASICs) and also includes a new iteration of its “bulletproof rewind scheme” for Grin wallets. As previously discussed by Cuckoo Cycle author John Tromp, there is reportedly no sign of users…

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Ethereum 

Bitcoin Dips Below $10,000 for the Second Time in July

The Bitcoin (BTC) price has dipped below the $10,000 price mark on July 16, while all top 20 coins by market cap are seeing significant losses. Market visualization from Coin360 Bitcoin has dipped below $10,000 threshold for the second time this month after the biggest cryptocurrency broke a multi-month high above $13,700 on June 26. After Bitcoin attempted another recovery to reach nearly $11,000 yesterday, the major coin has dropped to $9,616 at press time, down 8.22% over the past 24 hours. The biggest cryptocurrency is down more than 22%…

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Ethereum 

Bitcoin Could See FOMO Fireworks For 4th of July: New Report

A new report from crypto analytics site SFOX suggests bitcoin (BTC) could see a price hike on American Independence Day — July 4th.  In a July 3 blog post, SFOX analyzes the apparent impact that holidays can have during a crypto bull market, arguing that they appear to spark fresh FOMO — or fear of missing out: “Thanksgiving of 2017 marked the beginning of bitcoin’s run-up from the low $8000’s to its peak of almost $20,000 on December 17th […] in February of 2019 during the two week Spring Festival…

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Ethereum 

Advocacy Groups Call on Congress to Stop Libra Development Until July Hearings Take Place

Over 30 advocacy groups have appeared as signatories on a request that Congress and regulators implement an official moratorium on Libra development, as per the letter published on July 2. The letter was also addressed to Facebook, with Mark Zuckerberg himself cc’d, and asked that the social media giant wait until Congress and regulators have scrutinized a detailed presentation of the proposed stablecoin-esque virtual currency. The letter includes a number of questions that the signatories say need answers before Libra can proceed, including the following: “The plan for Libra makes…

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Ethereum 

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16

The Banking Committee of the United States Senate will hear testimony on Facebook’s Libra cryptocurrency project on July 16, economic news site MarketWatch reports on June 19. The social media giant released the white paper for its Libra token yesterday.  The stablecoin, will operate on a native eponymous blockchain, and will be backed by a basket of reserve assets “designed to give it intrinsic value” and mitigate volatility fluctuations.   Following the release of the project, U.S. regulators expressed their concern about the project’s possible effects on financial stability. Rep.…

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Blockchain 

President of Uganda to Lead Blockchain Conference in Kampala in July

The President of Uganda, Yoweri Museveni, will officiate the 2019 Africa Blockchain Conference, according to a report by Kabuubi Media Africa on June 24 According to the report, The 2019 Africa Blockchain Conference — not to be confused with  The Blockchain Africa Conference 2019 which occurred in April — will be held from July 3 to July 4, and the theme is ’Africa 4.0:  Preparing Africa for the 4th Industrial Revolution.’ The conference topics will reportedly include fintech, payment systems, and the future of education. President Museveni reportedly supported the…

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Blockchain 

US House of Representatives to Hold Hearing on Facebook’s Libra in July

The United States House Financial Services Committee will be holding a hearing on the social media giant Facebook’s proposed virtual currency Libra on July 17, according to a press release on June 24. The announcement comes by way of committee chairwoman Rep. Maxine Waters, who previously had called on Facebook to cease work on Libra until Congress and regulators had a chance to scrutinize the proposal: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress…

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Ethereum 

Bitcoin Breaks $8,000 for First Time Since July 2018, Stocks and Oil Report Losses

Monday, May 13 —  Following a solid to break above the $7,400 mark earlier today, bitcoin (BTC) has broken $8,000, with all top-20 cryptocurrencies trading in the green. Market visualization from Coin360 BTC is trading around $8,013 at press time, up over 13% on the day.Bitcoin’s weekly gains are now at around 38.88%. Bitcoin 7-day chart. Source: CoinMarketCap Ethereum (ETH) has seen an increase of 7.57% in the last 24 hours. The second largest cryptocurrency is trading at $202.65 at press time. The altcoin’s weekly chart shows gains of over…

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Bitcoin 

Bakkt to Roll Out First Bitcoin Futures Testing in July 2019

Bakkt plans to roll out testing for bitcoin futures trading in early July 2019, Bakkt CEO Kelly Loeffler announced in a Medium post on May 13. First announced in August 2018, institutional crypto exchange Bakkt now announced that it will soon introduce bitcoin futures trading testing on a federally regulated futures exchange in collaboration with its parent company Intercontinental Exchange (ICE). Specifically, Bakkt is working with both ICE Futures U.S. exchange and ICE Clear U.S. clearinghouse to prepare the first testing of bitcoin futures trading and custody. Loeffler wrote: “In…

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