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WASHINGTON, United States (AFP) — Dominant digital currency bitcoin should not be allowed to become the Swiss bank account of the modern era used to hide illicit activity, Treasury Secretary Steven Mnuchin said Friday. Mnuchin pledged to work with other governments, including within the Group of 20, which includes the world’s major economies, to monitor the activity of those who invest heavily in the cryptocurrency. “One of the things we will be working with the G20 on is […]
SEOUL, South Korea (AFP) — South Korea is preparing to shut down cryptocurrency exchanges in the country, its justice minister warned Thursday, sending prices of bitcoin and other virtual units into a tailspin. A series of measures have failed to curb overheated virtual currency speculation in the country and Justice Minister Park Sang-Ki said it would be “devastating if the bubble bursts.” “The ministry is preparing legislation that basically bans any transactions based on a […]
TOKYO, Japan (AFP) — Move over AKB48: Japan has a new all-girl “idol” band — the Virtual Currency Girls — on a mission to educate the public about bitcoin and other cryptocurrencies. Each of the eight girls in the band, known in Japanese as “Kasotsuka Shojo,” plays a character representing a virtual currency such as bitcoin, ethereum or ripple. Promotional material shows the performers wearing character masks, frilly mini-skirts and “maid” aprons complete with knee-high […]
TOKYO, Japan (AFP) — From clampdowns to a warm embrace, regulators in Asia have taken very different approaches to dealing with the bitcoin phenomenon. Here are the developments in a few key markets: Chinese clampdown In mid-September, China’s central bank, the People’s Bank of China (PBOC), told virtual currency trading platforms based in Beijing and Shanghai to cease market operations. Authorities also clamped down on ethereum and any other electronic units that are exchanged online […]
TOKYO, Japan (AFP) — From clampdowns to a warm embrace, regulators in Asia have taken very different approaches to dealing with the bitcoin phenomenon. Here are the developments in a few key markets: Chinese clampdown In mid-September, China’s central bank, the People’s Bank of China (PBOC), told virtual currency trading platforms based in Beijing and Shanghai to cease market operations. Authorities also clamped down on ethereum and any other electronic units that are exchanged online without being […]
SINGAPORE, Singapore (AFP) — A Singapore bar that bills itself as the world’s highest cryptocurrency club is offering a New Year’s Eve package that includes a limousine pick-up and butler service — but it’ll cost you a whole bitcoin. Skyline, on the 45th floor of a skyscraper overlooking the city-state’s glittering waterfront, is promising partygoers a luxury-filled night out, with champagne and oysters and caviar. But it won’t come cheap, with the price of bitcoin […]
by John BIERS Agence France Presse NEW YORK, United States (AFP) — The Dow drifted to a fresh record Thursday in sleepy holiday trading, while bitcoin prices tumbled after South Korea announced new restrictions on cryptocurrencies. Most of the 30 companies in the Dow Jones Industrial Average advanced in a quiet session, the latest record on the heels of dozens of earlier all-time highs in US equities this year. US stocks have been boosted all […]
by Chris Wright Agence France Presse PARIS, France (AFP) — As the poster child for the growing ranks of computer-generated currencies, bitcoin’s recent stratospheric price rises have propelled it from the chat forum-hosted depths of nerddom into the global consciousness. As it rose from under $1,000 to over $19,500 at one point this year, hordes of tech-savvy punters have rushed in to buy, while any investors can now do the same on the US […]
TOKYO, Japan (AFP) — Bitcoin prices suffered a dramatic plunge on Friday, dropping 20 percent at one point towards the $13,000-mark in volatile Asian trading. The cryptocurrency kicked the week off with a bang, almost hitting $20,000 as it extended its astonishing rise but it has suffered a significant correction this week, losing a third of its value. Bitcoin dropped to $13,048 briefly from around $16,500 in late trading on Thursday, according to data compiled […]
WASHINGTON, United States (AFP) — Shares in a New York beverage company nearly tripled by midafternoon Thursday after it announced it was shifting into cryptocurrency-related investments. Long Island Iced Tea Corp of Farmingdale, New York — which says it currently produces the soft drink with a proprietary recipe — announced Thursday it was changing its name to “Long Blockchain Corp” and would explore investments in the technology underlying cryptocurrencies like bitcoin. Shares in the company were up […]
BRUSSELS, Belgium (AFP) — The EU’s top official for the euro single currency on Wednesday pressed European regulators to urgently update financial rules in order to face bitcoin’s dizzying volatility. Crypto-currency bitcoin has soared almost 20-fold since the start of the year and this month saw it move into the mainstream as two major US exchanges began trading futures in the unit. “The developments relating to bitcoin and crypto-currencies in recent weeks require our heightened […]
HONG KONG, China (AFP) — Asian markets moved narrowly on Wednesday as investors take a breather from recent gains while keeping an eye on Capitol Hill as US lawmakers close in on a massive tax overhaul. Equities have been on a broad upswing since last week when holdout Republican senators said they would back Donald Trump’s headline legislation, which dealers are betting will fire up the world’s number one economy. The House of Representatives passed […]
