China Ruling Bitcoin Is Property Again Is ‘Major Milestone,’ Says Investor

China Ruling Bitcoin Is Property Again Is ‘Major Milestone,’ Says Investor

A court dispute between an exchange and a user reinforced China’s willingness to recognize the cryptocurrency. Bitcoin (BTC) has gained legal recognition by a second Chinese court in a further boost for the cryptocurrency in one of its harshest environments.A watershed for Bitcoin in ChinaAccording to investor Dovey Wan, who linked to local media coverage, the Hangzhou Internet Court formally described Bitcoin as virtual property on July 18. The second such court to attribute property…

Share:
Read more

Breaking: US Regulator Investigating Crypto Exchange BitMEX — Report

Breaking: US Regulator Investigating Crypto Exchange BitMEX — Report

Suspicions are reportedly focusing on U.S. users circumventing a ban on trading. United States regulator the Commodity Futures Trading Commission (CFTC) is reportedly investigating derivatives giant BitMEX.CFTC wants to know if Americans using BitMEXAccording to Bloomberg sources citing people familiar with the matter speaking on July 19, the CFTC suspects that BitMEX allowed U.S. residents to use its platform to trade.Under current law, the U.S. is one of the countries excluded from using BitMEX,…

Share:
Read more

Bitcoin an ‘Unstoppable Force,’ US Congressman Tells Crypto Hearing

Bitcoin an ‘Unstoppable Force,’ US Congressman Tells Crypto Hearing

Patrick McHenry warned lawmakers that they would ultimately fail if they attempted to control decentralized cryptocurrencies. Bitcoin’s (BTC) plight in Congress has seen attention focus mainly on naysayers, but this week’s hearing also saw United States politicians accept it was always beyond their control.‘Governments cannot stop this innovation’During testimony on July 17, U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, told lawmakers directly that attempts to stop Bitcoin were futile.“The world that…

Share:
Read more