Trump’s tweets do bitcoin and Facebook a favour July 23, 2019 Donald Trump’s recent tweet about bitcoin and that Facebook’s new quasi-crypto the “libra” would get the full force of the US regulators if they “want to become a bank” has put the crypto kitty amongst the pigeons. Why now? Surely Trump doesn’t care about bitcoin? Well, it was timed just before Facebook had to testify [...]
FCA boss Andrew Bailey heckled by victims of financial scandals July 17, 2019 The head of Britain’s financial watchdog was heckled by aggrieved small-scale investors at a public meeting this afternoon, following a spate of corporate controversies that have cast a cloud over the body’s reputation in recent months. Andrew Bailey, the chief executive of the UK’s Financial Conduct Authority, faced a grilling from victims of several high-profile [...]
EU targets Amazon in e-commerce antitrust probe July 17, 2019 Amazon is the subject of the EU’s latest antitrust probe, with the European Commission accusing the tech giant of abusing its dominance in e-commerce. The investigation, which began today, could see CEO Jeff Bezos’ retail behemoth lumped with a multi-billion dollar fine similar to other penalties issued to tech giant Google. Commissioner Margrethe Vestager said: “European consumers [...]
Facebook’s libra could solve the gig economy’s payment problem July 17, 2019 Ordering your evening meal or weekly groceries online has never been easier. In most cities, you can now book a car from your phone to get you from A to B in minutes. All of this is made possible by two things: the marketplace technology that facilitates instant transactions, and the gig economy that delivers [...]
Bitcoin continues to tumble after central banks attack Facebook’s Libra coin plans July 15, 2019 Bitcoin fell over 10 per cent over the weekend following criticism of Facebook’s proposed digital currency from powerful figures including US President Donald Trump and chair of the Federal Reserve Jay Powell. Read more: Trump dismisses bitcoin, saying cryptocurrencies aren’t money The world’s largest cryptocurrency had rebounded slightly to $10,344 shortly after 11am UK time [...]
Economist gets in squabble over bitcoin tape July 3, 2019 A top economist has hit out at Bitcoin, saying it will be confined to museums in five years, and sparking a backlash from the crypto community. Nouriel Roubini, famed for predicting the 2008 financial crisis, said that cryptocurrencies bitcoin, ethereum and monero will be consigned to the Museum of Failed Coins, according to reports. Read [...]
Watchdog threatens retail ban on crypto trades July 3, 2019 The Financial Conduct Authority this morning proposed a ban on selling derivatives based on bitcoin to retail customers. The watchdog said that crypto assets, including bitcoin, have extremely volatile prices. Read more: UK regulator warns tech companies over cryptocurrency projects It thinks such products are “ill suited to retail consumers who cannot reliably assess the [...]
Facebook’s cryptocurrency Libra could run into tax trouble say lawyers July 1, 2019 Facebook’s new cryptocurrency Libra could face serious tax issues that could hamper its widespread takeup, according to City lawyers. Earlier this month, the social media giant confirmed plans to launch Libra which is intended to be a new global currency that can improve access to the financial system. Tax lawyers from Magic Circle law firm [...]
Bitcoin crashes from libra high after Coinbase outage June 27, 2019 Bitcoin sank almost $2,000 to give up gains last night as volatility returned after the cryptocurrency approached $14,000. Read more: Bitcoin surges towards $13,000 thanks to Facebook libra Facebook libra’s launch had buoyed bitcoin, pushing the price up until it was just shy of $14,000 last night, its highest level since January 2018. But over [...]