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UK Watchdog Reports $34 Million Lost in Crypto and Forex Scams Last Year

[ad_1] The primary financial regulator of the United Kingdom, the Financial Conduct Authority (FCA), reports that crypto investors in the country lost over $34 million due to cryptocurrency and forex scams from 2018–2019 the Financial Times reports on May 20.According to the data, which the FCA gathered from the U.K. national fraud and cybercrime reporting center, Action Fraud, individual loss due to scams decreased from $76,000 to $18,500 while total
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Zimbabwe Stock Exchange Eyes Blockchain-Based Products, Needs Regulatory Clarity

[ad_1] Zimbabwe Stock Exchange (ZSE) chief executive Justin Bgoni says ZSE is interested in adopting blockchain technology if regulatory certainty can be achieved, according to a report by local news daily The Chronicle on May 20Bgoni, while in favor of blockchain technology, is waiting to apply blockchain technology at ZSE until regulatory certainty issues have been resolved:“Then there is the money side to blockchain technology. This is a bit difficult,
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SEC Still In Information-Gathering Mode Regarding Bitcoin ETF

[ad_1] The United States Securities and Exchange Commission (SEC) is "still in information-gathering mode" regarding a bitcoin (BTC) exchange-traded fund (ETF), the managing director of ETF.com told CNBC on May 20.Dave Nadig, managing director of а leading authority on ETFs, delivered his comments on the issue during an interview with the ETF Edge show. Nadig said:“It is clear the SEC is still in information gathering mode. [...] Technically, there are
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Low Turnout Hinders MakerDAO Vote to Decrease Stablecoin Stability Fee by 2%

[ad_1] The vote to decrease stability fee for MakerDAO’s Ethereum blockchain-based decentralized stablecoin Dai has failed, according to the voting results published on May 20.The vote about whether to decrease the fee by 2% to 17.5% per year started yesterday, May 19. MakerDAO is looking to change the yearly stability fee in an attempt to improve the token’s peg to the U.S. dollar after its exchange price has been hovering
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US Tax Authority Prioritizes Issuing Guidance on Cryptocurrencies

[ad_1] The United States Internal Revenue Service (IRS) has prioritized issuing tax guidance on cryptocurrencies, according to a May 16 letter.The letter from the IRS comes in response to a request from 21 representatives in Congress, including Rep. Tom Emmer, to provide clarity on reporting taxes on cryptocurrency holdings. In the letter to the tax authority, the representatives then claimed that there is still “substantial ambiguity on a number of
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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 20

[ad_1] The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.Market data is provided by the HitBTC exchange.Bitcoin rallied about 101.55% between April 2 and May 14. This sharp rally after a long bear phase surprised many, including us. Analysts at JPMorgan
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US SEC Postpones Verdict on VanEck and Bitwise ETF Application, Again

[ad_1] The United States Securities and Exchange Commission (SEC) has delayed its decision on the VanEck and Bitwise bitcoin (BTC) exchange-traded fund (ETF) proposal, according to an official SEC filing on May 20.The SEC has added a 35 day period for gathering more information and opinions on the proposal, which was initially filed by the Chicago Board Options Exchange (CBOE) last year.In January, CBOE withdrew its request for a rule
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Senior Official in Russian Parliament Says That Cryptos Can Ruin Governments

[ad_1] A senior official in Russia's parliament, the State Duma, has argued that cryptocurrencies have the potential to ruin governments, Russian financial media agency Rambler reported on May 20.Nikolai Arefiev, a member of the Communist Party of the Russian Federation and vice-chairman of the Duma’s committee on economic policy, innovative development and entrepreneurship, claimed that cryptocurrencies were created in order to hide large offshore assets from the government.If cryptos such
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Bitcoin Falls Below the $7,900 Mark as US Stock Market Sees a Minor Downturn

[ad_1] Monday, May 20 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) has fallen below the $7.900 mark again.Market visualization courtesy of Coin360Bitcoin is down over 1.7% on the day, trading at $7,883 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 10%.Bitcoin 7-day price chart. Source: CoinMarketCapAs Cointelegraph reported earlier today,
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Dutch Bank ABN AMRO Abandons Wallie Custodial Bitcoin Wallet Citing Risk Concerns

[ad_1] Dutch bank ABN AMRO abandoned its plans to launch a custodial bitcoin (BTC) wallet dubbed “Wallie” because of risk concerns, according to a report published on May 20 by tech news outlet The Next Web.Per the report, the bank’s senior press officer, Jarco de Swart, said in an email to the outlet that the bank decided not to continue its plans after it “concluded that cryptocurrencies because of their