By CCN Markets: Self-proclaimed bitcoin inventor Craig Wright had his fondest wish come true when the capital city of Colombia formally recognized him as Satoshi Nakamoto. Bogota Grants Craig Wright’s ‘Satoshi’ Wish Officials in Bogota presented Wright with a fancy certificate affirming him as the creator of bitcoin. The events unfolded at the 2019 Expo-Bitcoin International in Bogota, a week-long crypto conference. Wright, the chief scientist at nChain, and Jimmy Nguyen, nChain’s CEO, both attended the conference, where they discussed how Latin Americans could use cryptocurrencies to improve their economies. Notably, Wright discussed “bitcoin and the law.” Certificate: Wright Is
Based on findings from the International Monetary Fund (IMF), the annual inflation rate for Venezuela could reach as high as 1.37 million percent by the end of 2018. Inflation estimates for the country have risen several times this year as Venezuela struggles with policies and production — and prepares to launch its Petro cryptocurrency No
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A French court has reportedly rejected a request by the largest Swiss bank to drop money laundering charge against it. UBS Group and a number of its executives are accused of tax fraud and money laundering. If found guilty, the bank could be fined up to 5 billion euros or $ 5.8 billion. Its executives could also face jail time.
UBS Wants Money Laundering Charge Dropped
The tax fraud and money laundering trial in France of UBS Group AG and its executives began last week after seven years of investigation.
Vietnamese businesses and individuals have stopped importing bitcoin mining equipment into the country since the beginning of July, according to the Ho Chi Minh City Customs Department. This follows the government’s efforts to pass a law banning the import of bitcoin mining rigs into Vietnam.
Mining Rig Imports Stop
Business and individuals in Vietnam used to import a large number of crypto mining rigs into the country. Last year, the Customs Department of Ho Chi Minh City (HCMC) cleared more than 7,000 bitcoin and litecoin miners. Meanwhile, the Customs Department of Hanoi imported 190 bitcoin miners and 350 litecoin miners, Vietnam Biz reported Wednesday.
Most of the positive momentum forming across different cryptocurrency markets earlier today has completely evaporated. The coming week will be another tough nut to crack for Bitcoin and the thousands of alternative cryptocurrencies. The EOS price is already feeling the pressure, as it is on the verge of dipping below $ 5.
EOS Price Comes Under Pressure
Given the current cryptocurrency market conditions, it is not all that surprising to see the altcoins suffer from more bearish pressure. The EOS price is already feeling this unwelcome pressure, as its value will seemingly drop below $ 5 fairly soon. If that happens, it would cap off a week of steep setbacks, and potentially trigger an even bigger panic selling spree in the process.
Popular p2p Bitcoin trading platform Localbitcoins has announced users will only be able to hold one account from May 26 as new EU privacy laws come into place.
P2P: Regulatory Net Tightens
As part of its adherence to the General Data Protection Regulation (GDPR), a new data privacy push from Brussels, the platform will also change how it handles trade disputes and identification requirements among other aspects of its operations.
The move comes around one month after a previous announcement over obligatory identification caused controversy among Localbitcoins traders.
South Korean cryptocurrency exchange Bithumb is reportedly re-evaluating its strategy to launch its own coins through a corporation in Singapore, following news of fraud that could have serious side effects to both companies. Under the current laws, Bithumb coins will still be subject to Korean regulation whether launched abroad or not.
One of South Korea’s largest cryptocurrency exchanges, Bithumb, had a plan to launch its own coins for institutional investors through a corporation in Singapore.
Quite a few cryptocurrencies are trying to recover some of their lost value as of right now. Unfortunately, very few of them can effectively do so, as the market is poised to turn sour pretty soon. The Dash price still enjoys some positive momentum, as it has regained 11.42% of its lost value in the past 24 hours. As such, we are now looking at a Dash price of $ 446 once again.
The bearish pressure across all cryptocurrency markets is not relenting by any means. Although the first few days of this week seemed rather promising, things have not improved by any means. Instead, we see all currencies suffering from losses yet again, which is never a good sign heading into the weekend. The NEO price is dipping below $ 67 gain and could go a bit lower before the week is over.