#CryptoCorner: BTC Still Dominant Over Altcoins, EU Antitrust Regulators Probe Libra, Austrian Telecom Giant A1 Accepting #Crypto Payments
#CryptoCorner: BTC Still Dominant Over
Altcoins, EU Antitrust Regulators Probe Libra, Austrian Telecom Giant A1
Accepting #Crypto Payments
Point Roberts, WA,
Delta BC, August 21, 2019 - Investorideas.com, a leader in crypto and
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Stocks discussed:
(NasdaqGS:FB)
The crypto market has once again slipped into the
red, with Bitcoin (BTC) and virtually every
altcoin dropping in price over last night, according to data from CoinMarketCap. Bitcoin, specifically, went from a peak
trading price of about $10,830 yesterday, to as low roughly $9,960 earlier this
morning. It has recovered slightly to a present trading price of $10,047. But
even as Bitcoin loses steam, altcoin trading prices are reflecting the same
downward trend. Consequently, Bitcoin still enjoys a market dominance of 69
percent. The total crypto market cap fell from $279 billion to $260 billion at
press time.
A report from Bloomberg indicates that
Facebook’s (NasdaqGS:FB) Libra project is
being probed by EU antitrust regulators. An excerpt from the report reads:
The European
Commission is "currently investigating potential anti-competitive
behavior" related to the Libra Association amid concerns the proposed
payment system would unfairly shut out rivals, the EU authority said in a questionnaire
sent out earlier this month.
Officials said
they’re concerned about how Libra may create "possible competition
restrictions" on the information that will be exchanged and the use of
consumer data, according to the document, which is a standard part of an
early-stage EU inquiry to gather information.
Austrian telecom giant A1 has announced that it will begin
accepting cryptocurrency payments in seven of its locations. Markus Schreiber,
Head of A1 Business Marketing, commented:
"Paying with
digital currencies is becoming more and more prevalent internationally, and
every industry is affected. Whether it's the coffee-to-go or the movie ticket,
cash is an obsolete model. With our pilot operation in the A1 shops we are
testing the demand and acceptance of digital currencies in Austria. As a
pioneer, A1 assumes a great responsibility with regard to the digitization of
our society. The safety of consumers and trade, as well as compliance with all
legal requirements and provisions have top priority. Before the A1 Payment
portfolio will be expanded by digital currencies and officially available to
business customers, a multi-stage trial will now be carried out, starting with
selected A1 shops.”
Business Korea reports that an
increasing amount of South Korean blockchain startups are listing their crypto
and blockchain projects on foreign exchanges. The article cites stricter
regulation on the domestic market as a possible reason for listing overseas.
Experts point out
that domestic blockchain projects are flocking to foreign exchanges largely due
to tougher domestic cryptocurrency exchange market conditions. Investors cannot
make or withdraw deposits in the Korean currency at Korean exchanges. Excluding
the nation’s four largest exchanges, some 200 smaller exchanges cannot open
real-name virtual accounts. This is one reason cryptocurrency investors cannot
benefit from investor protection.
The article also attributes low transaction volumes
as a key reason for doing business elsewhere.
Sam Mowers,
Investorideas
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