#CryptoCorner: BTC Drops below $10K, North Korea Developing #Crypto, Zuckerberg in DC as Libra Faces Scrutiny, Arab Bank Switzerland Announces Digital Assets Suite and 7-Elevens in Philippines to Sell #Bitcoin
#CryptoCorner: BTC Drops below $10K, North Korea
Developing #Crypto, Zuckerberg in DC as Libra Faces Scrutiny, Arab Bank
Switzerland Announces Digital Assets Suite and 7-Elevens in Philippines to Sell
#Bitcoin
Point Roberts, WA, Delta BC September 19,
2019 - Investorideas.com, a leader in crypto and blockchain investing news
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what’s driving the cryptocurrency market.
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September
19 Crypto Corner
Stocks discussed: (NasdaqGS:FB)
There was some
movement in the crypto market in the last 12 hours or so, with a sudden drop in
market cap of about $8 billion USD, according to data from CoinMarketCap.
This plunged Bitcoin (BTC) below its established $10K support level,
with a drop from about $10,200 to roughly $9, 850. At press time, Bitcoin is
trading for $9,900.
VICE News reports that North Korea is in the
process of creating its own cryptocurrency, similar to Bitcoin. A government
representative told the outlet that the crypto was being designed as a way to
avoid sanctions on the country and to “circumvent the U.S.-dominated global
financial system”. Alejandro Cao de Benos, the official in charge of North
Korea’s cryptocurrency conferences, and a special delegate for the Committee
for Cultural Relations for the Democratic People's Republic of Korea (DPRK),
told VICE:
“We are still in the very early stages in the creation
of the token. Now we are in the phase of studying the goods that will give
value to it.”
He added that there
are:
“no plans to digitize the [North Korean] won for now.”
Mark Zuckerberg,
CEO of Facebook (NasdaqGS:FB), is meeting with policymakers and
regulators in Washington D.C. to discuss the company’s cryptocurrency project
Libra, according to a report from Bloomberg. An excerpt from the article reads:
The company is trying to win over lawmakers threatening
to stymie its launch of a new digital currency called Libra that its executives
say can lower costs and expand access to the banking system in developing
countries. The project faced bipartisan scorn during congressional hearings in
July, even leading to legislative proposals that would kill it.
Arab Bank
Switzerland has announced the launch of a full suite of
digital asset services, which will include custody and brokerage of Bitcoin and
Ethereum (ETH). The press release indicates that the
move into the crypto space was influenced by increasing demand by younger
clients who want digital assets in their diversified portfolios. Serge Robin,
CEO of Arab Bank (Switzerland) Ltd., commented:
“We firmly believe that blockchain will disrupt the
financial industry as we know it and we intend to be amongst the first banks to
offer digital asset services to our clients in a secure and regulated
environment.”
Crypto investment app
Abra has announced that all 7-Eleven stores in
the Philippines would begin selling Bitcoin. Through a new partnership with payments
processor ECPay, Abra users will be able to add crypto to their Abra wallet at
any of ECPay’s 6,000 retail locations in the country, which include all
7-Eleven stores.
Sam Mowers,
Investorideas
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