Bitcoin & Cryptocurrency

Bitcoin Drop Crashes Ethereum By 20%

Cryptocurrency Etherium plunges Monday despite efforts to increase user confidence by declaring credit for customers who lost money on last week’s flash crash. Bitcoin rival Etherium, also known as ether briefly dropped in a flash crash last week from more than $300 to 10 cents on Coinbase’s GDAX exchange. According to Coin Desk, Ether traded 20.9 percent lower at $239.63 on Monday afternoon. Source: CNBC

Barclay Discusses Bringing Bitcoin “Into Play” with Regulators

Barclay is in talks with regulators and financial technology firms about bringing bitcoin and other cryptocurrencies “into play”, Ashok Vashani, the bank’s U.K chief executive tells CNBC this Monday. Banking giant Barclay reveals meeting with Britain’s Financial Conduct Authority (FCA) discussing how to make Bitcoin safe. “We have been talking to a couple of fintechs and have actually gone with the fintechs to the FCA to talk about how we could bring, the equivalent of bitcoin, not necessarily bitcoin, but cryptocurrencies into play.” says Vashani at the Money 20/20 fintech conference in Copenhagen, Denmark. Source: CNBC

Phishing Email Pretends to be BitPay

A recent phishing email claiming to be from bitpay.org has been going around, seeking to scam virtual currency owners. The company BitPay, released an announcement through Reddit to warn users after receiving a number of reports from users. The announcement indicates that “This is not a legitimate BitPay email and is a clear phishing attempt. If you receive this email do not open its contents and certainly do not click on any link, button, or attachment.” Users receiving similar emails are encouraged to report these attempts to email providers. Source: Coin Telegraph

Google to Stop Scanning Gmail to Create Personalized Ads

In a recent post on Google’s blog, the company’s cloud computing chief Diane Greene outlines the company’s decision to stop scanning Gmail content for targeted ads. The tremendous growth of the company’s G Suite, a product for enterprises, prompted Google to align G Suite’s Gmail and consumer gmail, enabling consumer users to opt out of being shown personalized ads.  Privacy concerns have risen from Google’s practice of analyzing incoming and outgoing emails from its free consumer Gmail users. Source: Reuters

BSP Releases Guidelines Regulating Virtual Currencies Exchanges

BSP Releases Guidelines Regulating Virtual Currencies Exchanges

In its resolution dated 19 January 2017, the Monetary Board approved a new set of rules and regulations that would govern the operations of virtual currency exchanges in the country. The guidelines are to be incorporated in §4512N of the Manual of Regulations for Non-Bank Financial Institutions. The guidelines were made in recognition of the potential of virtual currencies in revolutionising the delivery of financial services and the risks that accompany it including consumer protection and the susceptibility to be used in illegal activities. The guidelines define the term a virtual currency, such as BitCoin, as any type of digital […]