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US Treasury Secretary Shares Trump’s Concerns on Crypto, Stresses Compliance

[ad_1] United States Treasury Secretary Steven Mnuchin shares President Donald Trump’s concerns on the use of cryptocurrency to finance illicit activity, and stresses the role of enforcing FinCEN regulations with respect to crypto-dealing organizations. Mnuchin made his remarks at a press conference on July 15.Mnuchin called the use of cryptocurrencies to fund illicit activity a national security issue, saying that billions of dollars have been used for this purpose:“Cryptocurrencies such
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Spam Attack? Bitcoin Average Block Size Suddenly Spikes to Over 3MB

[ad_1] Blockchain validation platform VeriBlock produced almost 25% of on-chain Bitcoin (BTC) transactions in 24 hours July 14, the company confirmed on social media.VeriBlock, which uses its own ‘Proof-of-Proof’ protocol to validate blockchains using Bitcoin’s computing power, launched its mainnet implementation in March. The service allows miners to compete for block rewards on altcoin blockchains, while tapping into Bitcoin’s superior levels of security due to the computing power sustaining its Proof-of-Work
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Bitcoin Falls Under $10,400 as Major Altcoins See Double-Digit Losses

[ad_1] Sunday, July 14 — Most of the top 20 cryptocurrencies are reporting losses on the day by press time, as Bitcoin (BTC) fell below the $10,400 mark.Market visualization courtesy of Coin360Bitcoin is currently down by over 9% on the day, trading at around $10,392 at press time, according to Coin360. Looking at its weekly chart, the coin is down by 7.23%.Bitcoin 7-day price chart. Source: Coin360Ether (ETH) is holding
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Bitcoin Mining Industry is Booming as Difficulty Soars 14% to New High

[ad_1] Mining difficulty on the Bitcoin (BTC) network has taken its steepest upturn in almost a year, data from major Chinese mining pool BTC.com reveals.On July 9, difficulty surged by over 14% to hit 9.06 trillion (9.06 T), at an average hash rate of 64.85 EH/s — a new all-time-high in the network’s history.The last time the network posted such a sharp increase in block producing difficulty was back in
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Brazilian Coffee Farming Cooperative to Issue a Coffee-Backed Token

[ad_1] Brazilian coffee farming cooperative Minasul plans to issue a coffee-backed token, Bloomberg reported on July 11.According to Bloomberg, Minasul’s president Jose Marcos Magalhaes declared at the Global Coffee Forum in Campinas that Minasul intends to launch the token this month. Farmers will reportedly be able to use the coin to buy fertilizer, machinery and other non-farm products — including cars and food — in a digital marketplace.Per the report,
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BTC Peer-to-Peer Trading Rises Amid Ban on USD in Zimbabwe: Report

[ad_1] Bitcoin (BTC) trading in Zimbabwe has continued to surge after the government banned the use of foreign currencies on June 24, business news agency Quartz Africa reported on July 10.The country is reportedly seeing a rise in peer-to-peer (P2P) crypto trading as there are no local exchanges offering cryptocurrency transactions due to the existing ban on providing such services enacted by Zimbabwe’s central bank in May 2018.Since Zimbabwe recently
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Bitcoin is Gold’s ‘Digital Imitation’ Says a Bit-Curious Peter Schiff

[ad_1] Veteran gold bug Peter Schiff will debate the precious metal’s utility against Bitcoin (BTC) in a dedicated event with Anthony Pompliano, the latter confirmed on Twitter July 10.Pompliano, the co-founder and partner at Morgan Creek Digital known in the industry as Pomp, said he hoped to convince Schiff that Bitcoin was a worthwhile investment.“Peter should get a lot of credit for agreeing to this. Hopefully he walks away a
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‘Not Very Practical’ — Critics Say Political Crypto Donations a Marketing Ploy

[ad_1] As one of only two crypto-accepting Democratic primary hopefuls withdraws his candidacy, political commentators have seized the moment to probe the crypto campaign donation trend.A report published by business media site Fast Company on July 10 has weighed in on presidential hopeful Eric Swalwell’s withdrawal with a focus on his role as one of two U.S. Democratic trailblazers to have opened his campaign to crypto donations.As distinct from fiat
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Bitcoin Price Slips 10% in 24 hrs as Fed Raises Facebook Libra Concerns

[ad_1] Bitcoin price (BTC) shed more than 10% on July 11 as markets appeared to react to criticism of Facebook’s Libra from a senior U.S. lawmaker.Market visualization courtesy of Coin360Data from Coin360 sees the majority of cryptocurrencies firmly in the red Thursday, hours after Federal Reserve Chairman Jerome Powell said Facebook’s offering should not continue development.Libra, which aims to act firstly as a cross-border payment method, allegedly buoyed Bitcoin throughout
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The Provident Bank Now Offers Deposit Services for Crypto-Related Entities

[ad_1] American community bank The Provident Bank has begun offering deposit services to digital currency-related customers, according to an announcement published on July 9.The Provident Bank now offers deposit and other banking services to cryptocurrency issuers, exchangers and investors. The bank deploys Bitfury’s blockchain analytics tool Crystal that maps cryptocurrency transactions and related entities to reveal suspicious funds and parties. Crystal will purportedly ensure that the bank’s new clients are