#CryptoCorner: BTC Loses $10K Support for Monthly-Low Trading Price, China Not Launching CBDC in Coming Months, BitTorrent Testing Live Streaming Platform
#CryptoCorner: BTC Loses $10K Support for Monthly-Low
Trading Price, China Not Launching CBDC in Coming Months, BitTorrent Testing
Live Streaming Platform
Point Roberts, WA, Delta BC, August 29,
2019 - Investorideas.com, a leader in
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The crypto market
has suffered a considerable drop in the last 24 hours, with Bitcoin (BTC) losing around
$500 alone in less than an hour yesterday, according to data from CoinMarketCap. Bitcoin is
currently trading for $9,490, its lowest trading price in a month, after
failing to reclaim support around $10,000. Altcoins were hit harder still, with
Ether (ETH) and Litecoin (LTC) falling roughly
10 percent in the same period. At press time, the total crypto market
capitalization is $246 billion, which is $20 billion less than this time yesterday.
Chinese state-run
English-language news outlet the Global Times tweeted that recent news
of the People’s Republic of China issuing a central bank digital currency
(CBDC) is wrong.
Refuting media reports of launching a state-backed
cryptocurrency in the coming months, #China's central bank termed them as
"inaccurate speculation."
This is at odds
with a report from China
Internet Information Center, itself an authorized government source, which claimed
that such a currency was soon to launch.
The nominee for the
chairmanship of South Korea’s top financial regulator expressed a cautious
approach to cryptocurrencies, according to local outlet Chosun
Ilbo.
A loose translation reads:
"Incorporating virtual currency into institutional
finance may cause side effects such as recurring speculative fever and money
laundering issues. There needs to be a legal basis for this first.”
"Currently, the virtual currency exchange is
established and operated autonomously in the market, but I know there is a
movement to strengthen regulations such as the introduction of the declaration
system to protect investors internationally. There is a need for an early
revision of the Act on Specific Financial Information Act, which is mainly
focused on strengthening the duty of anti-money laundering in the handling
business."
Cointelegraph reports that
Portugal’s Tax Authority will not tax cryptocurrency trading or payments made
in crypto. The country’s Tax and Customs Authority confirmed that crypto
transactions or payments are exempt from Value Added Tax (VAT), citing a 2015
ruling by the European Court of Justice which argued for Bitcoin’s status as a
form of payment and thus not taxable.
Peer-to-peer file
sharing protocol BitTorrent, which is a subsidiary of blockchain firm TRON,
will begin testing a live streaming platform, according to a blog post yesterday. Called BitTorrent
Live, or BLive, the new service will allow tipping in cryptocurrency, among
other features. Justin Sun, founder of TRON and CEO of BitTorrent, explained:
“With the continuous growth of telecommunication
technology and social media, livestreams have gained a tremendous edge and have
become the dark horse of online communication. It gives rise to outstanding
content creators who have thousands of followers but don’t get their fair share
of advertisements and virtual gifts.”
Sam Mowers,
Investorideas
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