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From yesterday’s upside action were seeing sideways price action today. The sellers and bots are active, expecting more downside, but their’s is a losing game: decline has a floor below, even if price pulls lower it must eventually go up according to chart dynamics. This analysis is provided by xbt.social with a 3 hour delay. […]

The post Bitcoin Price Correction Bounces Sideways appeared first on CryptoCoinsNews.

Dubai-based startup BitOasis has announced the launch of a bitcoin buying platform aimed at underbanked consumers in the Middle East.

 The twin Harvard graduates of Facebook fame Cameron and Tyler Winklevoss just took the stage at Disrupt NY 2015 to update everyone on their recent bitcoin projects. As a reminder, the twins have recently launched an exchange traded fund (ETF) under the symbol ‘COIN’ so that old school traders can trade bitcoins on the NASDAQ OMX. The two brothers also recently announced a new… Read More

Mark Hergott started out as an engineer and moved into the financial services industry by working for more traditional financial services providers. He traded through the Global Financial Crisis and describes it, in the below interview, as a very exciting time to be a trader. Also read: Bitcoin Trading Platform Coinarch Expands To Growing Chinese […]

The post Mark Hergott Talks to CCN About CoinCompetition and Coinarch appeared first on CryptoCoinsNews.

Bitcoin startup Bitseed is open-sourcing the creation of its new plug-in bitcoin node on Assembly, a collaborative platform.

European Bitcoin payment processor Coinzone officially announced in a recent blog post that the company will be launching a Bitcoin wallet for its European customers. The announcement follows the recent launch of the company’s Bitcoin processing platform in the Czech Republic. Like many others, Coinzone’s Bitcoin wallet will allow users to send, receive, buy and sell bitcoin on both mobile platforms and web browsers. Currently, the company is focusing on building country-specific features to allow users to withdraw and deposit through local banks. CEO Manuel Heilmann stated, “We’ve developed Coinzone Wallet in response to an overwhelming demand from users seeking a wallet that stores their sensitive information locally in Europe.” Heilmann added that there is a growing European demand for […]

The post Coinzone to Launch a European Bitcoin Service with Banking Relationships appeared first on Bitcoin Magazine.

The Spanish Bitcoin startup Coinffeine has launched a technical preview of its peer-to-peer (P2P) Bitcoin exchange. For the first time in a P2P exchange, users can experience an automatic and secure exchange similar to that offered by traditional exchanges, but with all the advantages of the P2P. This version is intended to enable independent users and banks to try the application at an early stage, integrate it into their services and operate as Bitcoin exchanges. Anyone interested can download the application and, once it is installed, can begin to buy and sell bitcoin with other Coinffeine users. Although the Coinffeine Technical Preview is fully functional, they decided to go step-by-step in this early stage and distribute a version that is configured […]

The post Coinffeine Launches Technical Preview of Peer-to-peer Bitcoin Exchange appeared first on Bitcoin Magazine.

BitGold Inc. has announced the public launch of the BitGold platform, a software service that connects gold storage with payment networks, resulting in a banking-like platform for gold. The announcement refers to the BitGold platform as a “new global operating system for gold.” In fact, BitGold is a digital payments platform that connects gold stored in real-world vaults with online payments. Though the BitGold press release emphasizes that BitGold is not a cryptocurrency like bitcoin, there are similarities. In particular, the BitGold platform allows for the quick settlement of gold trades so that a users’ gold is easily acquired and accessible across various payment networks such as SWIFT, Visa, MasterCard, Interac, SEPA, UnionPay, Discover, American Express and others – including […]

The post BitGold Announces a Bitcoin-like System for Gold Storage and Payments appeared first on Bitcoin Magazine.

Bitcoin is a wonderful technology and is probably a few years ahead of its time. One of its greatest strengths is it is built within the Internet, where it is safe, theoretically, from nefarious third-party takeovers from private interests or governments. One question that has never been posed is what happens to Bitcoin if we […]

The post The Internet Heading for Collapse in 2023 say Industry Experts appeared first on CryptoCoinsNews.

Overhyped cryptocurrencies like Bitcoin may grab the attention, but Visa CEO Charlie Scharf has quietly put a $6.8 trillion stranglehold on the world's commercial transactions. Surprise! It's already here.

Very few things in this world that we use every day have unlimited growth potential. The Internet, as we now know it, has limits of which we need to be mindful. Your smartphone’s data plan certainly has limitations. The Bitcoin network itself also has limitations, and these limitations may be holding Bitcoin’s development back, so […]

The post Bitcoin Network Capacity is Reaching a Critical State: Mike Hearn appeared first on CryptoCoinsNews.

Ever since the poker boom several years ago, the game has become one of the most popular online card games all over the globe. People no longer need to travel to a casino in order to play a few hands. Instead, they can enjoy the game from their couch. The only drawback to this luxury is […]

The post Bitcoin Poker Sites Tells You All About Bitcoin Poker and More appeared first on CryptoCoinsNews.

FinCEN announced on Monday that it is fining Ripple Labs, Inc., the creator of XRP, for selling XRP without first registering as a money services business and failing to implement and maintain adequate anti-money laundering provisions. These violations fall under the Bank Secrecy Act of 1970. In a press release from FinCEN, this move was […]

The post Ripple Labs Fined $700,000 by FinCEN for Non-Compliance appeared first on CryptoCoinsNews.

Owning Bitcoin might give your inner crypto-anarchist a bit of a rush, but the currency lacks the tactile fat-cat feels of physical notes in your wallet. Plus, only dealing with currency in the ether can make Bitcoin insecure and difficult to use. Case, a Bitcoin wallet that fits in your jeans, hopes to solve those problems.

Read more...

In its first civil enforcement action against a virtual currency exchange, the Financial Crimes Enforcement Network (FinCEN) levied a $700,000 fine on San Francisco-based Ripple Labs for violating the Bank Secrecy Act.

Bitcoin startup LazyPay has a chance to win a share of the £1,000,000 in prize money for the winner of Virgin Mobile’s Pitch To Rich competition. The London-based Bitcoin wallet, exchange and payment processor is the only digital currency startup competing in the event. The annual competition tries to find the brightest and best entrepreneurs in all of Britain. Startups can compete in three different categories: New Things, Start-Up and Grow. Competing startups can receive up to £250,000 in marketing support, 12 months of business support and advice from billionaire and Virgin Group CEO, Richard Branson. “With the support of Sir Richard (who has been a high-profile advocate for bitcoin), we hope to grow the number of merchants who accept […]

The post Bitcoin Startup LazyPay Competes In Virgin Mobile’s Pitch To Rich Competition appeared first on Bitcoin Magazine.

FinCEN, the Financial Crimes Enforcement Network, has levied its first fine on a virtual currency exchange.

Ripple Labs, which distributes and exchanges its own cryptocurrency, XRP, is being fined $700,000 by FinCEN, a division of the Treasury Department, for "acting as a money services business (MSB), and selling its virtual currency... without registering with FinCEN," as well as for "failing to implement and maintain an adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist financiers," according to FinCEN.

Ripple and FinCEN have agreed on a "remedial framework" in order to bring Ripple into compliance. 

From now on, Ripple has agreed to: 

...only transact XRP and “Ripple Trade” activity through a registered MSB; to implement and maintain an effective AML program; to comply with the Funds Transfer and Funds Travel Rules; to conduct a three-year “look-back” to require suspicious activity reporting for prior suspicious transactions; and a requirement for the companies to retain external independent auditors to review their compliance with the BSA every two years up to and including 2020. Pursuant to the agreement, Ripple Labs will also undertake certain enhancements to the Ripple Protocol to appropriately monitor all future transactions.

The statement of facts from FinCEN is here.

SEE ALSO: There's a new cryptocurrency coming, and it's backed by gold

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Earlier today, Ripple Labs Inc. was fined $700,000 for “willfully violating several requirements of the Bank Secrecy Act (BSA).” The Financial Crimes Enforcement Network (FinCEN) stated that the company issued its own currency (XRP) and failed to implement adequate anti-money laundering measures, in addition to operating as a money services business without the proper authorization from the federal regulatory body. FinCEN worked with the US Attorney’s Office for the Northern District of California to coordinate the civil money penalty against Ripple Labs Inc and XRP II, LLC, which is owned by Ripple Labs. Sale of XRP to Roger Ver A statement of facts included in FinCEN’s assessment of the violations describes multiple situations where XPR II “failed to file, or […]

The post Ripple Labs Fined $700,000 by FinCEN, Will Institute Transaction Monitoring Across Ripple Protocol appeared first on Bitcoin Magazine.

Earlier today, Ripple Labs Inc. was fined $700,000 for “willfully violating several requirements of the Bank Secrecy Act (BSA).” The Financial Crimes Enforcement Network (FinCEN) stated that the company issued its own currency (XRP) and failed to implement adequate anti-money laundering measures, in addition to operating as a money services business without the proper authorization from the federal regulatory body. FinCEN worked with the US Attorney’s Office for the Northern District of California to coordinate the civil money penalty against Ripple Labs Inc and XRP II, LLC, which is owned by Ripple Labs. Sale of XRP to Roger Ver A statement of facts included in FinCEN’s assessment of the violations describes multiple situations where XPR II “failed to file, or […]

The post Ripple Labs Fined $700,000 by FinCEN, Will Institute Transaction Monitoring Across Ripple Protocol appeared first on Bitcoin Magazine.