Bitcoin, Ethereum Prices Drop 3% in Sluggish Crypto Market: Factors and Trends

Over the past 24 hours, the valuation of the cryptocurrency market has dropped from $390 to $373 billion, by more than $17 billion. The bitcoin price dipped below $8,300 and the value of Ether, the native cryptocurrency of the Ethereum network, dropped to $690. Main Factors Behind the Cryptocurrency Market …

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Australia Plans Blockchain Prototype to Deliver Welfare Payments in 2019

The Australian government’s digitization agency has revealed plans to explore the implementation of blockchain technology in delivering social security welfare payments to citizens. Speaking at a conference in Sydney last week, Digital Transformation Agency (DTA) chief executive Randall Brugeaud underlined welfare payment delivery as an early use case for its …

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Chinese Watchdog Identifies 421 Cryptocurrencies as Outright Scams

Of late, the digital assets space has without a doubt drawn extensive media coverage, with reports, for the most part, focused on two factors: the price rise of cryptocurrencies, and the scams involving cryptocurrencies. Notwithstanding, investors are fleeced to the tune of millions with the bait of high returns, or …

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The UK’s Cryptoassets Taskforce Agrees on Key Objectives in First Meeting

The British government’s newly-established cryptocurrency task force has held its first meeting ahead of assessing what, if any, regulation is required for broad crypto and blockchain sector. The UK government’s ‘Cryptoassets Task Force’ – comprised of Her Majesty’s Treasury alongside the Bank of England and the Financial Conduct Authority (the …

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Japan’s Biggest Bank to Carry Large-Scale Trial of Cryptocurrency ‘MUFG Coin’

The banking arm of the Mitsubishi UFJ Financial Group’s (MUFG), the Bank of Tokyo-Mitsubishi UFJ, is reportedly planning to trial its in-house cryptocurrency in 2019 following years of development. As Japan’s largest bank, MUFG could become the world’s first major financial institution to deploy its own cryptocurrency after a local …

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