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Cryptocurrency and Blockchain News
Russia’s stance on cryptocurrency remains unclear after the Minister of Justice this week announced that there is still no need to formalize crypto-related legislation. This is because digital assets cannot be used as a means of payment, it asserts because the constitution forbids it.
Bitcoin price corrected lower recently below the $3,640 and $3,580 supports against the US Dollar. There is a contracting triangle forming with resistance near $3,625 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either climb above the $3,625 resistance or extend the correction below $3,560
IBM has released its blockchain main net out of its data center located in Melbourne, Australia. This will purportedly allow their customers to run their applications on the company's cloud, according to an article published on news outlet ZDNet on Feb 11.
Platforms providing traders with the opportunity to exchange cryptocurrencies have increasingly started to apply registration requirements. In many cases, these are justified on the basis of newly introduced KYC and AML regulations. Thankfully, there are still exchanges that allow users to swap digital coins without requiring a verified account.
The Australian Transaction Reports and Analysis Centre (Austrac) has now officially registered 246 cryptocurrency exchanges. Pro-regulation industry participants have described the move as a key step towards legitimizing crypto assets. The registration process includes performing background checks and other anti-money laundering procedures on the entities involved.
Independent Reserve, an Australian-based cryptocurrency exchange, has announced the addition of insurance coverage, which is aimed at protecting its clients. This makes it the first exchange of its kind to offer this coverage in Australia.