Author: Crypto Breaking News

There have not been many times in the cryptocurrency market where an extended period has seen negative growth; however, the first three months of 2018 have been the exception. In fact, this first quarter of 2018 has broken records and registers as the worst first quarter in the history of Bitcoin, and the second-worst quarter ever. A week into Q2 crypto analysts and experts are approaching the next few months with optimism despite what has gone before. There are a couple of reasons for this, and if history is to be followed and noted, then Q2 holds a lot more…

The wider cryptocurrency markets have largely traded sideways in the first week of April, but a few notable exceptions did manage to buck the trend. As of writing, the total market capitalization of cryptocurrencies is seen at $248 billion – only slightly down from the $251 billion seen on March 30. Bitcoin was showing signs of bullishness in the first half of the week, rising as high as $7,500, according to CoinDesk’s Bitcoin Price Index. However, the relief rally was short-lived and prices fell back below the $7,000 mark on April 4. Currently, the cryptocurrency is trading around $6,620 -…

Monex Group’s CEO said he plans to relaunch Japanese cryptocurrency exchange Coincheck in “two months”, subject to regulatory approval, in a press conference in Tokyo today, April 6, attended by Cointelegraph. Answering questions following confirmation the online broker had purchased Coincheck for 3.6 bln yen (about $33.5 mln), Oki Matsumoto said the roadmap for the new Monex-controlled Coincheck would include an initial public offering (IPO). “In the future, I’d like to strengthen Coincheck by making initial public offerings,” he told reporters, adding: “The crypto exchange business will end up being similar to a banking business, so I think we will…

Japan’s Financial Services Agency (FSA) has ordered the suspension of two more cryptocurrency exchanges and sent a business improvement notice to another, following a series of inspections after the January hack of around $534 mln in NEM from Japanese crypto exchange Coincheck, local news outlet Nikkei Asian Review reports today, April 6. As a result of the FSA’s on-site inspections of Japan’s 15 as-of-yet unregistered crypto exchanges, the regulator has already halted operations at two exchanges and sent business improvement notices to seven, including Coincheck. The Nikkei Asian Review notes that crypto exchange Last Roots received the latest business improvement…

Three months since the peak of bitcoin’s meteoric multi-year bull trend, many analysts are predicting a bearish outlook for the BTC markets. Prominent Chinese trader, Zhao Dong, has described bitcoin as exhibiting four-year market cycles that resemble the seasons in a year, forecasting that the “winter” of cryptocurrency will set-in during 2019. Harvard professor, Kenneth Rogoff, recently predicted that bitcoin’s price will be a “tiny fraction” of its current value in “10 years.” Finder.com.au’s most recent survey has seen its end of year BTC price forecast by revised by over 25% – now estimating that bitcoin will be approximately $21,500…

The U.K.’s financial watchdog has warned that companies offering services around cryptocurrency derivatives “likely” need to be authorized by the agency. In a statement posted to its website Friday, the Financial Conduct Authority (FCA), said that although it doesn’t consider cryptocurrencies to be currencies or commodities for regulatory purposes, cryptocurrency derivatives may be financial instruments under current directives. The statement said: “Firms conducting regulated activities in cryptocurrency derivatives must, therefore, comply with all applicable rules in the FCA’s Handbook and any relevant provisions in directly applicable European Union regulations.” The FCA continued to explain that it’s “likely” that companies seeking to offer derivatives linked…

The team behind the troubled Japanese cryptocurrency exchange Coincheck has decided to sell the company to one of the largest securities trading companies in the country. Monex will provide much needed capital but will decapitate the exchange and replace its head with a more trusted figure from among its own.   Also Read: Japanese Police Arrest Chinese Man for Selling Cryptocurrency Exchange Accounts Coincecheck Shakeup The leadership of Coincheck exchange has reportedly accepted on Thursday the acquisition bid by Japanese financial services firm Monex Group (Tokyo Stock Exchange: 8698). The final details are still being worked out between the two…

Phil Karter, a former Justice Department Tax Division trial lawyer, is currently a partner in the Philadelphia Office of Chamberlain Hrdlicka. Kevin F. Sweeney, a former federal tax prosecutor, is a senior counsel in the same office. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. On February 23, Coinbase, a popular U.S.-based digital currency exchange, notified 13,000 of its customers that it would be turning over their account information to the IRS. The notice was precipitated by a U.S. District Court ruling in a protracted John Doe Summons battle between the company and the…

Japanese online brokerage Monex Group has confirmed a deal is in place to acquire cryptocurrency exchange Coincheck, which suffered a major breach early this year. According to Japanese daily The Mainichi, the deal will cost Monex 3.6 billion yen (around $33.5 million). Later this month, the broker will acquire 45.2 percent of Coincheck’s shares from its founder and CEO Koichiro Wada, another 5.5 percent from board member Yusuke Otsuka and 49.3 percent from six other stakeholders, the report adds. In an announcement Monex said: “The cryptocurrency exchange business plays a core part in a vision of “MONEX’s new beginning”. Therefore, the…

Bitcoin (BTC) risks falling to $6,000 in the next 24 hours, but there is limited room for a drop below that level, the technical studies indicate. BTC’s retreat from the weekly high of $7,509 to $6,600 not only marks a failure on the bulls’ part to hold prices above the key resistance of $7,240 (March 8 low), but also signals continuation of the bearish “lower” highs pattern (marked by hand signs) as seen on the chart below. As of writing, the cryptocurrency is changing hands at $6,565 on Bitfinex – down 3.9 percent from Thursday’s close (as per UTC) of…