Cryptocoin Exchange Bitfinex, Tether has been subpoenaed by U.S. Regulators

The crypto exchange Bitfinex is being investigated over questions  about its digital token Tether  which is linked to its backers. The tether is supposed to be pegged to the US dollar which means for every Tether token there should be a dollar held in reserve which is meant to stop it from volatility fluctuation like Bitcoin experiences.

Tether’s coins have become popular with people using then in exchange for the US dollar,  there is  an estimated 2.3 billion dollars of outstanding tokens. People have been questioning whether the Us dollars have been held in reserve for the tokens.The U.S. Commodity Futures Trading Commission has said they have sent a subpoenas on Dec 6th 2017.

When asked for comments about the investigation, Bitfinex and Tether have said they “routinely receive legal process from law enforcement agents and regulators conducting investigations and it is their policy not to comment on any such requests”

 

A major Bitcoin conference held in North American  is due to start in  Miami next week, but anyone hoping to purchase tickets using Bitcoin  will be disappointed to find they are only accepting credit cards or paypal.

The tickets cost $1000 each and due to high transaction fees and a very slow network confirming payments the conference had no choice but to stop Bitcoin payments and only accept traditional payment methods. 

 

Paul

The South Korean government are considering banning  Bitcoin and other cryptocurrency trading on local trading platforms. Justice Minister Park Sang-ki said virtual currencies are of great concern and that the ministry were preparing a bill to  ban cryptocurrency trading.

Several Trading platforms were raided this week due to  alleged tax evasion, including South Koreas second biggest trading platform called Bithumb. This  will come as a huge blow to cryptocurrencys as around 20% of trading is done in South Korea.

 

Paul

Worldwide Bitcoin shopping service for everything from everywhere 

All4btc lets you order from practically anywhere on the web.

Microsoft has decided to stop all Bitcoin payments due to high transaction prices, lack of interest and long delays with confirmations. It is a sad day for Bitcoin as yet another high profile company pulls its support for Bitcoin due to the ongoing problems which have still to be fixed.

Although Microsoft was only “testing”  Bitcoin as a payment option because it was only available to a very small number of  digital products and mainly to US customers.  The quicker Bitcoin sort out the new lighting network the better it will be for merchants how are trying to use Bitcoin as a payment option.

 

Paul

BitcoinKiez is a place to find all shops which accept Bitcoins 

“Kiez” (pronounced “keets” or /ˈkiːts/, like the name of English poet John Keats) is Berliner slang for “neighbourhood”. The Bitcoinkiez in Berlin is the area around Graefestrasse  — the place with the highest density of Bitcoin-accepting businesses worldwide.

Would you like to spend some Bitcoins?

You’ll find all available options for doing so in the Bitcoinkiez here.

Do you accept Bitcoin at your retail shop, restaurant, bar or any other business?

Register here at BitcoinKiez free of charge  or send an email  to  info at bitcoinkiez dot de

Ripple has passed Ethereum  and has  become the world’s second most valuable crypto token  by market capitalisation. The coin rose up by 50% in just 24 hours Its value now around $2.00. Over the last month is has had a 700% rise from around $0.25. Last weeks announcement  of 3 of Japans credit card companies also triggered a rise in the currency.

Ripplecoins market capitalisation is now at  $76bn which is still far behind Bitcoin but catching up fast. Ripple has also attracted investors who are looking for a major return similar to what Bitcoin has done. Looks like Ripplecoin meant for every day use might become another traders coin just like Bitcoin.

 

 

 

 

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